Document:

Exhibit 10.5

 

AMENDMENT

TO THE

1997 EQUITY PARTICIPATION PLAN

OF

GUITAR CENTER, INC.

 

Pursuant to the authority
reserved to the Board of Directors (the “Board”) of Guitar Center, Inc.
(the “Company”), a corporation organized under the laws of State of Delaware,
under Section 10.2 of the 1997 Equity Participation Plan of Guitar Center,
Inc. (as amended to date, the “Plan”), the Board hereby further amends
the Plan as follows.

 

1.                                       Section 3.4(d)
of the Plan is hereby deleted in its entirety.

 

2.                                       Article IIIA
of the Plan is hereby deleted in its entirety. 
For the avoidance of doubt, no stock option grant has been or shall be
made to any of Messrs Gorog, Jones or Rossi under Article IIIA, rather
such directors are to participate solely in the Company’s 2004 Guitar Center
Incentive Stock Award Plan.

 

3.                                       The
foregoing amendments shall be deemed effective immediately prior to the Guitar
Center, Inc. 2004 Annual Meeting of Stockholders.

 

* * * * * * * * *
*

 

I hereby certify that the
foregoing amendment to the Plan was duly adopted by the Board of Directors of
Guitar Center, Inc. on April 29, 2004.

 

	
   

  	
  /s/ Bruce L. Ross

  	
   

  
	
   

  	
  Bruce L. Ross

  SecretaryExhibit 10.16(a)

ASSET
PURCHASE AGREEMENT

by and among

VALUED SERVICES
ACQUISITIONS COMPANY, LLC

and

FIRST AMERICAN
HOLDING, LLC,

FIRST AMERICAN CASH
ADVANCE OF ALABAMA, LLC,

FACA OF ARKANSAS,
LLC,

FIRST AMERICAN CASH
ADVANCE OF COLORADO, LLC,

FIRST AMERICAN CASH
ADVANCE OF FLORIDA, LLC,

FIRST AMERICAN CASH
ADVANCE OF GEORGIA, LLC,

FACA OF KENTUCKY,
LLC,

FORESIGHT
MANAGEMENT COMPANY, LLC,

UNION MANAGEMENT
COMPANY, LLC,

FIRST AMERICAN CASH
ADVANCE OF TENNESSEE, LLC,

FIRST AMERICAN CASH
ADVANCE OF SOUTH CAROLINA, LLC,

FIRST AMERICAN
FINANCIAL SERVICES, LLC,

FIRST AMERICAN
FRANCHISING, LLC,

UNITED SERVICES,
INC.,

FIRST AMERICAN CASH
ADVANCE OF OKLAHOMA, LLC

AND

THE
MEMBER GUARANTORS A PARTY HERETO

As of April 9, 2004

 

  

TABLE
OF CONTENTS

	
  

  	
   

  	
   

  
	
  ARTICLE 1 PURCHASE AND SALE
  OF ASSETS

  	
   

  	
  2

  
	
  1.1

  	
   

  	
  Purchase of Assets

  	
   

  	
  2

  
	
  1.2

  	
   

  	
  Excluded
  Assets

  	
   

  	
  3

  
	
  1.3

  	
   

  	
  Assumed
  Liabilities

  	
   

  	
  3

  
	
  1.4

  	
   

  	
  Excluded
  Liabilities

  	
   

  	
  4

  
	
  1.5

  	
   

  	
  Closing

  	
   

  	
  5

  
	
  1.6

  	
   

  	
  Purchase
  Price

  	
   

  	
  5

  
	
  1.7

  	
   

  	
  Adjustments
  to Purchase Price

  	
   

  	
  6

  
	
  1.8

  	
   

  	
  Payment of
  Purchase Price

  	
   

  	
  7

  
	
  1.9

  	
   

  	
  Contracts
  Not Transferable

  	
   

  	
  8

  
	
  ARTICLE 2 INDIVIDUAL
  REPRESENTATIONS AND WARRANTIES OF THE MEMBER GUARANTORS

  	
   

  	
  8

  
	
  2.1

  	
   

  	
  Organization
  and Good Standing

  	
   

  	
  8

  
	
  2.2

  	
   

  	
  Power and
  Authority

  	
   

  	
  8

  
	
  2.3

  	
   

  	
  Due
  Execution; Binding Effect

  	
   

  	
  8

  
	
  2.4

  	
   

  	
  No
  Violation; Consents

  	
   

  	
  9

  
	
  2.5

  	
   

  	
  No Amounts
  Owed to Member Guarantors

  	
   

  	
  9

  
	
  ARTICLE 3 REPRESENTATIONS
  AND WARRANTIES OF THE SELLERS

  	
   

  	
  9

  
	
  3.1

  	
   

  	
  Organization
  and Good Standing

  	
   

  	
  9

  
	
  3.2

  	
   

  	
  Power and
  Authority

  	
   

  	
  9

  
	
  3.3

  	
   

  	
  Due
  Execution; Binding Effect

  	
   

  	
  10

  
	
  3.4

  	
   

  	
  No
  Violation; Consents

  	
   

  	
  10

  
	
  3.5

  	
   

  	
  Subsidiaries

  	
   

  	
  10

  
	
  3.6

  	
   

  	
  Financial
  Statements

  	
   

  	
  10

  
	
  3.7

  	
   

  	
  No
  Undisclosed Liabilities

  	
   

  	
  11

  
	
  3.8

  	
   

  	
  Real
  Property

  	
   

  	
  11

  
	
  3.9

  	
   

  	
  Title to
  Assets

  	
   

  	
  11

  
	
  3.10

  	
   

  	
  Intellectual
  Property

  	
   

  	
  12

  
	
  3.11

  	
   

  	
  Notes and
  Receivables

  	
   

  	
  14

  
	
  3.12

  	
   

  	
  Contracts
  and Commitments

  	
   

  	
  15

  
	
  3.13

  	
   

  	
  Ordinary
  Course of Business

  	
   

  	
  16

  
	
  3.14

  	
   

  	
  Litigation

  	
   

  	
  16

  
	
  3.15

  	
   

  	
  Compliance
  with Laws; Federal Regulations

  	
   

  	
  17

  
	
  3.16

  	
   

  	
  Permits and
  Licenses

  	
   

  	
  17

  
	
  3.17

  	
   

  	
  Taxes

  	
   

  	
  18

  
	
  3.18

  	
   

  	
  Insurance

  	
   

  	
  19

  
	
  3.19

  	
   

  	
  Environmental

  	
   

  	
  19

  
	
  3.20

  	
   

  	
  Employee
  Benefits

  	
   

  	
  20

  
	
  3.21

  	
   

  	
  Labor
  Matters

  	
   

  	
  22

  
	
  3.22

  	
   

  	
  Insolvency
  Proceedings

  	
   

  	
  23

  
	
  3.23

  	
   

  	
  Practices

  	
   

  	
  23

  
	
  3.24

  	
   

  	
  Related
  Party Transactions

  	
   

  	
  23

  
	
  3.25

  	
   

  	
  Accuracy of
  Information

  	
   

  	
  23

  
	
  3.26

  	
   

  	
  No
  Additional Representations and Warranties

  	
   

  	
  24

  

 i
 

 

	
  ARTICLE 4 REPRESENTATIONS AND WARRANTIES OF PURCHASER

  	
   

  	
  25

  
	
  4.1

  	
   

  	
  Organization and Good Standing

  	
   

  	
  25

  
	
  4.2

  	
   

  	
  Power and
  Authority

  	
   

  	
  25

  
	
  4.3

  	
   

  	
  Due
  Execution; Binding Effect

  	
   

  	
  25

  
	
  4.4

  	
   

  	
  No
  Violation; Consents

  	
   

  	
  25

  
	
  4.5

  	
   

  	
  Litigation

  	
   

  	
  26

  
	
  4.6

  	
   

  	
  Financing

  	
   

  	
  26

  
	
  ARTICLE 5 COVENANTS OF THE
  SELLERS

  	
   

  	
  26

  
	
  5.1

  	
   

  	
  Conduct of
  the Business Pending Closing

  	
   

  	
  26

  
	
  5.2

  	
   

  	
  Access to
  Sellers

  	
   

  	
  27

  
	
  5.3

  	
   

  	
  Reasonable
  Efforts; Regulatory Applications

  	
   

  	
  28

  
	
  5.4

  	
   

  	
  Notice of
  Changes

  	
   

  	
  28

  
	
  5.5

  	
   

  	
  No
  Solicitation of Transactions

  	
   

  	
  29

  
	
  5.6

  	
   

  	
  Final
  Financial Statements

  	
   

  	
  29

  
	
  5.7

  	
   

  	
  Liens on Acquired Assets

  	
   

  	
  29

  
	
  5.8

  	
   

  	
  Notice of
  Adverse Occurrences

  	
   

  	
  29

  
	
  5.9

  	
   

  	
  Notice of
  Continued Employment

  	
   

  	
  30

  
	
  ARTICLE
  6 CONDITIONS TO OBLIGATIONS OF PURCHASER

  	
   

  	
  30

  
	
  6.1

  	
   

  	
  Representations
  and Warranties

  	
   

  	
  30

  
	
  6.2

  	
   

  	
  Performance
  of Agreements

  	
   

  	
  30

  
	
  6.3

  	
   

  	
  No Injunctions

  	
   

  	
  30

  
	
  6.4

  	
   

  	
  Governmental
  Consents and Approvals

  	
   

  	
  30

  
	
  6.5

  	
   

  	
  Third Party
  Consents and Approvals

  	
   

  	
  30

  
	
  6.6

  	
   

  	
  No Material
  Adverse Effect

  	
   

  	
  31

  
	
  6.7

  	
   

  	
  Financing

  	
   

  	
  31

  
	
  6.8

  	
   

  	
  Due
  Diligence

  	
   

  	
  31

  
	
  6.9

  	
   

  	
  Deliveries
  of Sellers

  	
   

  	
  31

  
	
  6.10

  	
   

  	
  Escrow
  Agreement

  	
   

  	
  32

  
	
  6.11

  	
   

  	
  Employment
  Agreement

  	
   

  	
  32

  
	
  6.12

  	
   

  	
  Transferred Employees

  	
   

  	
  32

  
	
  6.13

  	
   

  	
  Bank
  Accounts and Bank Agreement

  	
   

  	
  32

  
	
  6.14

  	
   

  	
  Related
  Agreements

  	
   

  	
  32

  
	
  ARTICLE
  7 CONDITIONS TO OBLIGATIONS OF THE SELLERS

  	
   

  	
  32

  
	
  7.1

  	
   

  	
  Representations
  and Warranties

  	
   

  	
  32

  
	
  7.2

  	
   

  	
  Performance
  of Agreements

  	
   

  	
  32

  
	
  7.3

  	
   

  	
  No
  Injunctions

  	
   

  	
  32

  
	
  7.4

  	
   

  	
  Governmental
  Consents and Approvals

  	
   

  	
  32

  
	
  7.5

  	
   

  	
  Deliveries
  of Purchaser

  	
   

  	
  33

  
	
  7.6

  	
   

  	
  Escrow
  Agreement

  	
   

  	
  33

  
	
  7.7

  	
   

  	
  Trademark
  License

  	
   

  	
  33

  
	
  7.8

  	
   

  	
  Third Party
  Consents and Approvals

  	
   

  	
  33

  
	
  7.9

  	
   

  	
  Related
  Agreements

  	
   

  	
  33

  
	
  ARTICLE 8
  TERMINATION

  	
   

  	
  33

  
	
  8.1

  	
   

  	
  Termination

  	
   

  	
  34

  
	
  8.2

  	
   

  	
  Effect of
  Termination

  	
   

  	
  34

  
	
  8.3

  	
   

  	
  Survival of
  Certain Provisions

  	
   

  	
  35

  

 ii
 

 

	
  ARTICLE 9 OTHER AGREEMENTS OF THE
  PARTIES

  	
   

  	
  35

  
	
  9.1

  	
   

  	
  Reasonable
  Efforts

  	
   

  	
  35

  
	
  9.2

  	
   

  	
  Brokers;
  Expenses

  	
   

  	
  35

  
	
  9.3

  	
   

  	
  Publicity

  	
   

  	
  35

  
	
  9.4

  	
   

  	
  Special Tax
  Provisions

  	
   

  	
  35

  
	
  9.5

  	
   

  	
  Employee
  Matters

  	
   

  	
  36

  
	
  9.6

  	
   

  	
  Seller
  Representative

  	
   

  	
  37

  
	
  9.7

  	
   

  	
  Non-Competition
  and Non-Solicitation

  	
   

  	
  38

  
	
  9.8

  	
   

  	
  WARN Act

  	
   

  	
  40

  
	
  9.9

  	
   

  	
  Access to
  Information

  	
   

  	
  40

  
	
  9.10

  	
   

  	
  Trademark
  License

  	
   

  	
  41

  
	
  9.11

  	
   

  	
  Purchaser

  	
   

  	
  41

  
	
  9.12

  	
   

  	
  Renewal or
  Extension of Lease

  	
   

  	
  41

  
	
  ARTICLE 10
  INDEMNIFICATION

  	
   

  	
  41

  
	
  10.1

  	
   

  	
  Indemnification
  by Sellers and Member Guarantors

  	
   

  	
  41

  
	
  10.2

  	
   

  	
  Indemnification
  by Purchaser

  	
   

  	
  41

  
	
  10.3

  	
   

  	
  Administration
  of Third Party Claims

  	
   

  	
  42

  
	
  10.4

  	
   

  	
  Limitations

  	
   

  	
  43

  
	
  10.5

  	
   

  	
  Rights
  Under Escrow Agreement

  	
   

  	
  45

  
	
  10.6

  	
   

  	
  Payments

  	
   

  	
  45

  
	
  10.7

  	
   

  	
  Exclusive
  Remedy

  	
   

  	
  45

  
	
  10.8

  	
   

  	
  Books and
  Records

  	
   

  	
  46

  
	
  10.9

  	
   

  	
  Tax and
  Insurance Benefit

  	
   

  	
  46

  
	
  10.10

  	
   

  	
  Limitation
  on Purchaser’s Liability

  	
   

  	
  46

  
	
  10.11

  	
   

  	
  Losses

  	
   

  	
  47

  
	
  ARTICLE 11
  MISCELLANEOUS

  	
   

  	
  47

  
	
  11.1

  	
   

  	
  Notices

  	
   

  	
  47

  
	
  11.2

  	
   

  	
  Entire
  Agreement

  	
   

  	
  48

  
	
  11.3

  	
   

  	
  Waiver;
  Amendment

  	
   

  	
  48

  
	
  11.4

  	
   

  	
  Severability

  	
   

  	
  48

  
	
  11.5

  	
   

  	
  Governing
  Law

  	
   

  	
  48

  
	
  11.6

  	
   

  	
  Assignment

  	
   

  	
  48

  
	
  11.7

  	
   

  	
  Binding
  Effect

  	
   

  	
  49

  
	
  11.8

  	
   

  	
  Headings

  	
   

  	
  49

  
	
  11.9

  	
   

  	
  References
  within Agreement

  	
   

  	
  49

  
	
  11.10

  	
   

  	
  Interpretation

  	
   

  	
  49

  
	
  11.11

  	
   

  	
  Further
  Assurances

  	
   

  	
  49

  
	
  11.12

  	
   

  	
  Counterparts;
  Fax Signatures

  	
   

  	
  49

  
	
  11.13

  	
   

  	
  Knowledge

  	
   

  	
  49

  
	
  11.14

  	
   

  	
  Trusts

  	
   

  	
  49

  
	
  11.15

  	
   

  	
  Pattco,
  LLC

  	
   

  	
  50

  

 

 iii
 

DEFINITIONS

	
   TERM

   	
    

   	
    

   	
    

   	
   PAGES

   
	
  Acquired Assets

  	
   

  	
   

  	
  2

  	
   

  
	
  Actual Closing
  Working Capital Statement

  	
   

  	
   

  	
  6

  	
   

  
	
  Actual Working Capital

  	
   

  	
   

  	
  6

  	
   

  
	
  Adjusted
  Purchase Price

  	
   

  	
   

  	
  6

  	
   

  
	
  Adverse
  Occurrences

  	
   

  	
   

  	
  24

  	
   

  
	
  Agreement

  	
   

  	
   

  	
  1

  	
   

  
	
  Allocation
  Statement

  	
   

  	
   

  	
  36

  	
   

  
	
  Assumed
  Contracts

  	
   

  	
   

  	
  2

  	
   

  
	
  Assumed
  Liabilities

  	
   

  	
   

  	
  3

  	
   

  
	
  Audit Firm

  	
   

  	
   

  	
  7

  	
   

  
	
  Bank Agreements

  	
   

  	
   

  	
  14

  	
   

  
	
  Bank Model

  	
   

  	
   

  	
  14

  	
   

  
	
  Business

  	
   

  	
   

  	
  1

  	
   

  
	
  Business
  Employee Plans

  	
   

  	
   

  	
  21

  	
   

  
	
  Business
  ERISA Plan

  	
   

  	
   

  	
  21

  	
   

  
	
  Business
  Receivables

  	
   

  	
   

  	
  14

  	
   

  
	
  Closing

  	
   

  	
   

  	
  5

  	
   

  
	
  Closing Date

  	
   

  	
   

  	
  5

  	
   

  
	
  COBRA

  	
   

  	
   

  	
  22

  	
   

  
	
  Code

  	
   

  	
   

  	
  21

  	
   

  
	
  Current Assets

  	
   

  	
   

  	
  6

  	
   

  
	
  Current
  Liabilities

  	
   

  	
   

  	
  6

  	
   

  
	
  Disclosure Schedule Updates

  	
   

  	
   

  	
  28

  	
   

  
	
  Due
  Diligence Date

  	
   

  	
   

  	
  31

  	
   

  
	
  Employees

  	
   

  	
   

  	
  22

  	
   

  
	
  Employment
  Agreement

  	
   

  	
   

  	
  32

  	
   

  
	
  Environmental
  Action

  	
   

  	
   

  	
  20

  	
   

  
	
  Environmental
  Laws

  	
   

  	
   

  	
  20

  	
   

  
	
  ERISA

  	
   

  	
   

  	
  21

  	
   

  
	
  ERISA Affiliate

  	
   

  	
   

  	
  20

  	
   

  
	
  Escrow Agent

  	
   

  	
   

  	
  7

  	
   

  
	
  Escrow
  Agreement

  	
   

  	
   

  	
  7

  	
   

  
	
  Estimated
  Closing Working Capital Statement

  	
   

  	
   

  	
  6

  	
   

  
	
  Estimated Working Capital

  	
   

  	
   

  	
  6

  	
   

  
	
  Excluded Assets

  	
   

  	
   

  	
  3

  	
   

  
	
  Excluded
  Businesses

  	
   

  	
   

  	
  3

  	
   

  
	
  Excluded
  Employees

  	
   

  	
   

  	
  36

  	
   

  
	
  Excluded
  Liabilities

  	
   

  	
   

  	
  4

  	
   

  
	
  FACA-KY

  	
   

  	
   

  	
  1

  	
   

  
	
  Final Financial Statements

  	
   

  	
   

  	
  29

  	
   

  
	
  Final Working Capital
  Statement

  	
   

  	
   

  	
  7

  	
   

  
	
  Financing

  	
   

  	
   

  	
  26

  	
   

  
	
  First
  American Alabama

  	
   

  	
   

  	
  1

  	
   

  
	
  First
  American Arkansas

  	
   

  	
   

  	
  1

  	
   

  
	
  First
  American Colorado

  	
   

  	
   

  	
  1

  	
   

  
	
  First
  American Financial

  	
   

  	
   

  	
  1

  	
   

  
	
  First
  American Florida

  	
   

  	
   

  	
  1

  	
   

  

 iv
 

 

	
  First American Franchising

  	
   

  	
   

  	
  1

  	
   

  
	
  First
  American Georgia

  	
   

  	
   

  	
  1

  	
   

  
	
  First
  American Holding

  	
   

  	
   

  	
  1

  	
   

  
	
  First
  American Oklahoma

  	
   

  	
   

  	
  1

  	
   

  
	
  First American South
  Carolina

  	
   

  	
   

  	
  1

  	
   

  
	
  Foresight
  Management

  	
   

  	
   

  	
  1

  	
   

  
	
  GAAP

  	
   

  	
   

  	
  6

  	
   

  
	
  Georgia
  Business

  	
   

  	
   

  	
  3

  	
   

  
	
  Georgia
  Lawsuits

  	
   

  	
   

  	
  4

  	
   

  
	
  Hazardous
  Substances

  	
   

  	
   

  	
  20

  	
   

  
	
  HSR Act

  	
   

  	
   

  	
  10

  	
   

  
	
  Indemnified
  Party

  	
   

  	
   

  	
  42

  	
   

  
	
  Indemnifying
  Party

  	
   

  	
   

  	
  42

  	
   

  
	
  Industry

  	
   

  	
   

  	
  11

  	
   

  
	
  Initial Financial
  Statements

  	
   

  	
   

  	
  10

  	
   

  
	
  Intellectual
  Property

  	
   

  	
   

  	
  13

  	
   

  
	
  Knowledge

  	
   

  	
   

  	
  49

  	
   

  
	
  Kugler

  	
   

  	
   

  	
  1

  	
   

  
	
  Latest Balance
  Sheet

  	
   

  	
   

  	
  4

  	
   

  
	
  Leased
  Personal Property

  	
   

  	
   

  	
  11

  	
   

  
	
  Leased
  Real Property

  	
   

  	
   

  	
  11

  	
   

  
	
  Leases

  	
   

  	
   

  	
  11

  	
   

  
	
  Licenses

  	
   

  	
   

  	
  2

  	
   

  
	
  Lien

  	
   

  	
   

  	
  2

  	
   

  
	
  Losses

  	
   

  	
   

  	
  41

  	
   

  
	
  Material
  Adverse Effect

  	
   

  	
   

  	
  31

  	
   

  
	
  Member
  Guarantors

  	
   

  	
   

  	
  1

  	
   

  
	
  Net
  Working Capital

  	
   

  	
   

  	
  6

  	
   

  
	
  Non-Competition Agreement

  	
   

  	
   

  	
  31

  	
   

  
	
  Objection

  	
   

  	
   

  	
  6

  	
   

  
	
  Parties

  	
   

  	
   

  	
  1

  	
   

  
	
  Party

  	
   

  	
   

  	
  1

  	
   

  
	
  Pattco

  	
   

  	
   

  	
  50

  	
   

  
	
  Pattco
  Distribution

  	
   

  	
   

  	
  50

  	
   

  
	
  Pattco Member

  	
   

  	
   

  	
  50

  	
   

  
	
  Proposed
  Georgia Law

  	
   

  	
   

  	
  11

  	
   

  
	
  Protective
  Covenants

  	
   

  	
   

  	
  39

  	
   

  
	
  Purchase Price

  	
   

  	
   

  	
  5

  	
   

  
	
  Purchaser

  	
   

  	
   

  	
  1

  	
   

  
	
  Purchaser Indemnified
  Parties

  	
   

  	
   

  	
  41

  	
   

  
	
  Real
  Property Leases

  	
   

  	
   

  	
  11

  	
   

  
	
  Records

  	
   

  	
   

  	
  2

  	
   

  
	
  Registered
  Intellectual Property

  	
   

  	
   

  	
  13

  	
   

  
	
  Release

  	
   

  	
   

  	
  20

  	
   

  
	
  Restricted
  Territory

  	
   

  	
   

  	
  38

  	
   

  
	
  Sale Proceeds

  	
   

  	
   

  	
  49

  	
   

  
	
  Seller

  	
   

  	
   

  	
  1

  	
   

  
	
  Seller Indemnified Parties

  	
   

  	
   

  	
  41

  	
   

  
	
  Seller
  Representative

  	
   

  	
   

  	
  37

  	
   

  

 v
 

 

	
  Sellers

  	
   

  	
   

  	
  1

  	
   

  
	
  Separate Purchase Agreement

  	
   

  	
   

  	
  2

  	
   

  
	
  Services
  Agreement

  	
   

  	
   

  	
  39

  	
   

  
	
  Target Working Capital

  	
   

  	
   

  	
  6

  	
   

  
	
  Tax

  	
   

  	
   

  	
  19

  	
   

  
	
  Tax Return

  	
   

  	
   

  	
  19

  	
   

  
	
  Taxes

  	
   

  	
   

  	
  19

  	
   

  
	
  Termination
  Date

  	
   

  	
   

  	
  34

  	
   

  
	
  Transferred
  Employees

  	
   

  	
   

  	
  36

  	
   

  
	
  Union
  Management

  	
   

  	
   

  	
  1

  	
   

  
	
  United Services

  	
   

  	
   

  	
  1

  	
   

  
	
  Utility
  Contracts

  	
   

  	
   

  	
  15

  	
   

  
	
  WARN

  	
   

  	
   

  	
  23

  	
   

  

 

 

 vi

ASSET PURCHASE AGREEMENT

THIS ASSET
PURCHASE AGREEMENT (the “Agreement”)
is made and entered into as of the 9th day of April, 2004, by and
among (i) VALUED SERVICES ACQUISITIONS COMPANY, LLC, a Georgia limited
liability company (“Purchaser”),
and (ii) FIRST AMERICAN HOLDING, LLC, a Kentucky limited liability company
(“First American Holding”),
FIRST AMERICAN CASH ADVANCE OF ALABAMA, LLC, a Tennessee limited liability
company (“First American Alabama”),
FACA OF ARKANSAS, LLC, a Tennessee limited liability company (“First American Arkansas”),
FIRST AMERICAN CASH ADVANCE OF COLORADO, LLC, a Tennessee limited liability
company (“First American Colorado”),
FIRST AMERICAN CASH ADVANCE OF FLORIDA, LLC, a Tennessee limited liability
company (“First American Florida”),
FIRST AMERICAN CASH ADVANCE OF GEORGIA, LLC, a Tennessee limited liability
company (“First American Georgia”),
FACA OF KY, LLC, a Kentucky limited liability company (“FACA-KY”), FORESIGHT MANAGEMENT COMPANY, LLC, a
Tennessee limited liability company (“Foresight Management”), UNION MANAGEMENT COMPANY, LLC, a
Tennessee limited liability company (“Union Management”), FIRST AMERICAN CASH ADVANCE OF
TENNESSEE, LLC, a Tennessee limited liability company (“Kugler”), FIRST AMERICAN CASH ADVANCE OF SOUTH CAROLINA,
LLC, a Tennessee limited liability company (“First American South
Carolina”), FIRST AMERICAN FINANCIAL SERVICES, LLC, a Tennessee
limited liability company (“First
American Financial”), FIRST AMERICAN FRANCHISING, LLC, a
Kentucky limited liability company (“First American Franchising”), UNITED SERVICES, INC., a
Tennessee corporation (“United
Services”), and FIRST AMERICAN CASH ADVANCE OF OKLAHOMA, LLC, a
Tennessee limited liability company (“First American Oklahoma”), and (iii) each of the
persons listed on Schedule 2 (the “Member Guarantors”).
Each of First American Holding, First American Alabama, First American
Arkansas, First American Colorado, First American Florida, First American
Georgia, First American Kentucky, FACA-KY, Foresight Management, Union
Management, Kugler, First American South Carolina, First American Financial,
First American Franchising, United Services and First American Oklahoma are
sometimes hereinafter referred to collectively as “Sellers” and individually as “Seller,” and Purchaser, Sellers and Member Guarantors
are sometimes hereinafter referred to collectively as the “Parties” and individually as a “Party.”

BACKGROUND:

A.    Sellers, including the sellers pursuant to the “Separate Purchase
Agreement” (as defined below), are engaged in the business of making short-term
consumer loans having a duration of less than two months and/or the marketing
and servicing of short-term consumer loans having a duration of less than two
months on behalf of a bank lender (collectively, the “Business”), in the states of Alabama, Arkansas,
Colorado, Florida, Georgia, Kentucky, North Carolina, Ohio, Oklahoma,
Tennessee, South Carolina and West Virginia.

B.     Subject to
the terms and conditions set forth in this Agreement, Sellers desire to sell to
Purchaser, and Purchaser desires to purchase from Sellers, substantially all of
the assets owned or used by Sellers in connection with the operation of the
Business.

C.     The
respective board of directors, board of managers or other applicable governing
body of each of the Sellers and Purchaser have approved this Agreement and the
transactions contemplated hereby.

D.    By the
required vote of all members or shareholders, as applicable, each Seller has
approved and voted in favor of this Agreement and the transactions contemplated
hereby in accordance with the respective Seller’s governing law.

E.     Contemporaneously with the execution of this Agreement,
Purchaser has entered into that certain Asset Purchase Agreement with First
American Services of West Virginia, LLC, First American 

 1
 

Services
of Kentucky, LLC and the member guarantors a party thereto (the “Separate Purchase
Agreement”).

NOW, THEREFORE, FOR AND IN
CONSIDERATION of the premises, the mutual promises, covenants and agreements
contained herein, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Parties hereby agree as
follows:

ARTICLE
1

PURCHASE AND SALE OF ASSETS

1.1   Purchase of Assets.   Upon the terms and subject to the conditions set
forth in this Agreement, at the “Closing” (as defined in Section 1.5) and
for the consideration specified in this Article 1, each Seller shall sell,
convey, transfer, assign and deliver to Purchaser, and Purchaser shall purchase
from each such Seller, all of the “Acquired Assets” (as hereinafter defined),
free and clear of any and all liens, charges, security interests, mortgages,
hypothecations, pledges, claims and encumbrances of any kind (each, a “Lien”), other than (i) Liens
for Taxes not yet due or in default and payable without penalty and interest;
and (ii) Liens fully reflected or reserved against in the Final Working
Capital Statement (as defined in Section 1.7(e)). For purposes of this
Agreement, “Acquired Assets”
shall mean all of the assets, properties and rights owned or used by Sellers as
of the “Closing Date” (as defined in Section 1.5) in connection with the
operation of the Business, other than the “Excluded Assets” (as defined in Section 1.2),
including, without limitation, the following:

(a)    cash in an
amount of approximately $259,620 in
the aggregate plus $1,500 for each open
store as of the Closing located in Oklahoma, with a range of $150 to $10,000 as to each open store
location of Seller;

(b)   (i) the “Net
Working Capital” (as defined in Section 1.7) of the open stores located in
Oklahoma; and (ii) all accounts receivable, notes receivable, refunds,
deposits, prepaid expenses, held checks and all claims against the payors of
such checks and prepaid security deposits;

(c)    all
machinery, equipment, office and computer equipment, modems, furniture,
fixtures and other tangible personal property;

(d)   to the extent assignable, all rights under all contracts, “Leases”
(as defined in Section 3.8), agreements, covenants, options, guaranties
and other similar arrangements related to the Business to which any Seller is a
party or to which any of its assets are subject, whether oral or written,
express or implied, including, without limitation, all non-solicitation and
non-disclosure covenants in favor of Sellers (notwithstanding anything to the
contrary herein, no representation or warranty regarding such non-solicitation,
non-disclosure covenants, employment agreements or other matters referenced in
this clause is given in this Section 1.1(d)), but specifically excluding
the agreements set forth in Schedule 1.2(b) (all
of the foregoing being referred to collectively as the “Assumed Contracts”);

(e)    to the extent assignable (but Purchaser is aware that most, and
perhaps all of the following are not assignable), all licenses, approvals,
permits, registrations and other similar rights obtained from governmental
agencies or authorities (and all applications therefore) (collectively, the “Licenses”), but each Seller
and Member Guarantor shall have no liability of any nature whatsoever to
Purchaser or its assignees for the non-assignment of such Licenses or the
inability of the Purchaser or its affiliates to obtain comparable licenses;

(f)    all “Intellectual
Property” (as defined in Section 3.10(a));

(g)    all records, files, correspondence, data, plans, training
materials, marketing materials, recorded knowledge and information used in the
Business or required to continue the Business as it is currently being
conducted (collectively, the “Records”);

 2
 

(h)   all claims,
refunds, causes of action, chooses-in-action, rights or recovery, rights of
set-off, charge-offs, and rights of recoupment related to the Business, whether
arising before or after the Closing Date;

(i)    all
goodwill associated with the Business; and

(j)     all other
tangible and intangible assets of any kind or description, wherever located,
that are owned or used by Sellers in connection with the operation of the
Business as of the Closing Date other than the Excluded Assets.

1.2   Excluded Assets.   Only the following assets as of the Closing Date of
Sellers (the “Excluded Assets”)
are being retained by Sellers and not sold to Purchaser, and are and shall be
free of any interest of Purchaser (other than with respect to claims made by
Purchaser pursuant to Article 10), pursuant to this Agreement:

(a)    any rights
relating to the “Excluded Liabilities” (as defined in Section 1.4);

(b)   all of
Sellers’ rights under the contracts, agreements, covenants, options, guaranties
and similar arrangements listed on Schedule 1.2(b),
including all non-competition and employment agreements between a Seller and
any employee of Sellers;

(c)    any
employee benefit plans and all assets, amendments, documents and financial
matters relating thereto or associated trusts maintained by Sellers;

(d)   all assets used exclusively by (i) the small-loan business of
FAS
Financial, LLC, an affiliate of First American Holding, and (ii) the
tax preparation and tax refund business of First American Tax Services, LLC, an
affiliate of First American Holding (collectively, the “Excluded Businesses”),
or used by the Excluded Businesses and set forth on Schedule 1.2(d) (even
though they are listed as assets of the Sellers on their financial statements),
including the computers and printers used by the Excluded Businesses; provided, however that
each store of Sellers shall have sufficient computers and printers to carry on
the Business after the Closing as conducted prior to the Closing;

(e)    all cash
and cash equivalents in excess of the amounts set forth in Section 1.1(a);

(f)    all equity
interests in each of the Sellers, each Seller entity and the Adjusted Purchase
Price (as defined in Section 1.7(c)) and other consideration or items to
be received by the Sellers and Member Guarantors in connection with this
Agreement;

(g)    to the extent not purchased by Purchaser pursuant to Section 1.6(b),
the assets used exclusively by First American Georgia (the “Georgia Business”);

(h)   those
assets and properties listed on Schedule 1.2(h);
and

(i)    the
insurance policies of Sellers and the prepaid premiums under such policies.

1.3   Assumed Liabilities.   It is understood and agreed that Purchaser shall not
assume or become liable for the payment of any debts, liabilities, losses,
charge-backs, accounts payable, bank indebtedness, mortgages, leases or other
obligations of Sellers, whether the same are known or unknown, now existing or
hereafter arising, of whatever nature or character, whether absolute or
contingent, liquidated or disputed, except for the following obligations set
forth in Section 1.3(a) and Section 1.3(b) (the “Assumed Liabilities”),
and Purchaser agrees that, at Closing, it shall assume, pay, perform and
discharge pursuant to the “Assumption Agreement” referred to in Section 7.5(c) the
Assumed Liabilities in accordance with their respective terms:

(a)    all “Current Liabilities” (as defined in Section 1.7(a)) of
Sellers relating to the Business (including all accounts payable but excluding
all Current Liabilities associated with the Excluded Assets), and incurred on
or prior to the Closing Date but (i) only to the extent that such
liabilities are 

 3
 

reflected
on such Seller’s consolidated balance sheet dated as of February 29, 2004 and delivered to Purchaser prior to the
date of this Agreement (the “Latest
Balance Sheet”); or (ii) if such liabilities are incurred
after the date of the Latest Balance Sheet, only to the extent such liabilities
are either (A) reflected on the Final Working Capital Statement, (B) incurred
as a result of the conduct of the Business in the ordinary course and consistent
with Sellers’ past practice, (C) consistent with amounts historically
incurred by such Seller, and (D) incurred in compliance with the terms of this
Agreement or (X) not to the Knowledge of the Sellers known in time to be
included in the Final Working Capital Statement, (Y) incurred as a result of
the conduct of the Business in the ordinary course and consistent with Sellers’
past practice, and (Z) incurred in compliance with the terms of this Agreement;
and

(b)   all
liabilities and obligations arising on or after the Closing Date (but excluding
any liabilities or obligations arising from any acts or omissions of Sellers,
including, without limitation, any breach of contract, breach of warranty or
violation of laws, occurring prior to the Closing Date) under or pursuant to
Assumed Contracts, including but not limited to, all Leases and Licenses.

1.4   Excluded Liabilities.   Notwithstanding anything else contained herein to the
contrary, all liabilities and obligations of Sellers (whether known or unknown,
liquidated or unliquidated, contingent or fixed) other than the Assumed
Liabilities (the “Excluded
Liabilities”), shall remain the liabilities and obligations of
Sellers, and shall not be assumed by Purchaser pursuant hereto (regardless of
whether any such liabilities or obligations are disclosed in this Agreement). Each
Seller hereby agrees that it shall fully and timely pay, perform and discharge
all of the Excluded Liabilities in accordance with their respective terms. Without
limiting the generality of the foregoing, Excluded Liabilities of Sellers
include the following:

(a)    any
liability or obligation of any Seller arising under any Assumed Contract,
Lease, License or other agreement as a result of any act or omission occurring
prior to the Closing Date;

(b)   any
liability or obligation related to the Excluded Assets;

(c)    any
liability or obligation for any Taxes owed by any Seller or arising in
connection with the consummation of this Agreement and the transactions
contemplated hereby, unless otherwise provided in this Agreement;

(d)   any
liability or obligation of Sellers for costs and expenses incurred in
connection with this Agreement and the transactions contemplated hereby;

(e)    any
liability or obligation of Sellers under or in connection with any action,
suit, proceeding or investigation arising out of acts, omissions or events
occurring prior to the Closing Date, including, but not limited to, claims or
actions pursuant to any statutes and regulations with respect to short-term
loans, usury statutes, the Equal Credit Opportunity Act and Regulation B
promulgated thereunder, the federal Truth-in-Lending Act and Regulation Z
promulgated thereunder, the federal Fair Credit Reporting Act, the Federal
Trade Commission’s Rule on Credit Practices, and any other federal,
foreign, state or local statute, law, ruling, or ordinance; provided, however, that
all such actions, proceedings, suits, and investigations arising out of any
acts, omissions or events occurring on or after the Closing Date relating to
the Acquired Assets or the Business or any activity, form or aspect thereof
shall be the sole obligations of the Purchaser, except as set forth in Section 3.11(a)(ii);

(f)    all costs, fees and other amounts of Sellers in connection with
the existing lawsuits filed against First American Georgia and as more
particularly described on Schedule 1.4(f) (the
“Georgia Lawsuits”);

 4
 

(g)    any
liability or obligation of Sellers relating to any breach of contract, breach
of warranty, tort, infringement or violation of law arising out of acts,
omissions or events occurring prior to the Closing Date, except as set forth in
Schedule 1.4(g);

(h)   any
liability or obligation of Sellers to any employee as a result of this
transaction and any liability or obligation under or in connection with any
employee benefit plan, policy or practice, or any employment agreement,
collective bargaining agreement or severance agreement except as set forth in Schedule 1.4(h);

(i)    any
liability or obligation of Sellers to indemnify any person by reason of the
fact that such person was an employee, officer, director, manager or agent of
Sellers (or such person was serving in any such capacity of any other entity at
the request of any Seller) prior to the Closing Date; and

(j)     any
liability or obligation relating to any loan, line of credit, guaranty or other
indebtedness of Sellers not assumed by Purchaser pursuant to Section 1.3.

1.5   Closing.   The
transactions contemplated by this Agreement shall be consummated at a closing
(the “Closing”)
to be held at the offices of Greenebaum Doll & McDonald, PLLC, located
at 101 South Fifth Street, 3500 National City Tower, Louisville, Kentucky, at
10:00 a.m., local time, on (a) the second business day following the
last to be fulfilled or waived of the conditions set forth in Articles 6 and 7,
or (b) such other time, date or place as Purchaser and the “Seller
Representative” (as defined in Section 9.6) shall mutually agree to in
writing, but not later than the “Termination Date” (as defined in Section 8.1(e)).
The date on which the Closing occurs is hereinafter referred to as the “Closing Date.”

1.6   Purchase Price.

(a)    Upon the terms and subject to the conditions set forth in this
Agreement, Purchaser shall pay a total purchase price for the Acquired Assets
(the “Purchase Price”)
equal to $108,105,000, subject
to adjustment as set forth in Section 1.7 below and payable as set forth
in Section 1.8 below, plus the assumption of the Assumed Liabilities.

(b)   Upon (i) written
notice delivered by Purchaser to the Seller Representative on or prior to April 16,
2004, or (ii) fifteen (15) days after written notice is delivered by
Sellers to Purchaser stating its good faith belief that the Proposed Georgia
Law (as defined in Section 3.6(b)) is likely to be signed by the Governor
of the State of Georgia, this Agreement shall terminate solely with respect to
the Acquired Assets, Assumed Liabilities, Assumed Contracts and employees
relating to the Georgia Business, and in such event the assets relating to the
Georgia Business and all provisions in this Agreement relating to First
American Georgia and the Georgia Business shall become Excluded Assets, the
Purchase Price shall be reduced by $14,000,000 to $94,105,000, the dollar
escrow amounts set forth in Section 1.8(a), the capitalization of
Purchaser referenced in Schedule 9.11
and the limitations set forth in Article 10 shall be reduced
proportionately, and there shall be a Trademark License Agreement for First
American Holding and Services Agreement for First American Georgia (as
referenced in Section 7.7), and the Parties hereto shall agree in good
faith on the adjustments that are appropriate with respect to Net Working
Capital and Target Working Capital so that Current Working Capital and Current
Liabilities pertaining to the Georgia Business are excluded. Notwithstanding
anything to the contrary, to the extent the assets and liabilities of the
Georgia Business are excluded pursuant to this Section 1.6(b), neither
Sellers, Member Guarantors nor First American Georgia shall be liable to the
Purchaser for anything pertaining to this Agreement with respect to such assets
or liabilities of the Georgia Business (except for those items referenced in Section 9.10)
and the term “Business” shall exclude any operations in the State of Georgia. To
the extent the assets and liabilities of First American Georgia are not purchased
pursuant to this Agreement, First American Georgia shall not be a Seller and
all references in this Agreement to the 

 5
 

Georgia Business, and all
representations, warranties and covenants relating to the Georgia Business,
shall be deemed to be modified to reflect the intent of this Section 1.6(b).

1.7   Adjustments to Purchase Price.

(a)    For
purposes of this Section 1.7,

(i)          the term “Net Working Capital” means (A) the aggregate amount
of the “Current Assets” (as hereinafter defined) of Sellers (excluding the
Current Assets of First American Oklahoma) less (B) the “Current
Liabilities” (as hereinafter defined) of Sellers (excluding the Current
Liabilities of First American Oklahoma), both determined as of 11:59 p.m.,
Atlanta, Georgia time, on the Closing Date in accordance with United States of
America’s generally accepted accounting principles consistently applied (“GAAP”) and without giving effect to
the transactions contemplated by this Agreement;

(ii)        the term “Current Assets” means those assets of the type listed on
Part I of Schedule 1.7;

(iii)       the term “Current Liabilities” means those liabilities of the type
list on Part II of Schedule 1.7
hereto; and

(iv)        the term “Target Working Capital” means the Net
Working Capital of the Sellers (excluding First American Oklahoma) in an amount
equal to $11,055,000.

(b)   No more than ten days prior to the Closing Date, the “Seller
Representative,” as defined in Section 9.6, and the Purchaser shall
jointly prepare, or cause to be prepared, a statement (the “Estimated Closing Working
Capital Statement”), which shall set forth a good faith and
reasonable itemized calculation of the estimated Current Assets, Current
Liabilities and Net Working Capital (the “Estimated Working Capital”). At the Closing, if the
Estimated Working Capital is less than the Target Working Capital, then the
Purchase Price shall be decreased by the difference between the Estimated
Working Capital and the Target Working Capital. At the Closing, if the
Estimated Working Capital as reflected on the Estimated Closing Working Capital
Statement is greater than the Target Working Capital, then the Purchase Price
shall be increased by the difference between the Estimated Working Capital and
the Target Working Capital.

(c)    The Purchase Price, after giving effect to the adjustments
provided for in Section 1.7(b) shall be referred to herein as the “Adjusted Purchase Price.”

(d)   Within 60 days after the Closing Date, Purchaser shall prepare, or
cause to be prepared, and deliver to the Seller Representative a statement (the
“Actual
Closing Working Capital Statement”) which shall set forth an
itemized calculation of the Current Assets, the Current Liabilities and the
actual Net Working Capital (the “Actual Closing Working Capital”). The Actual Closing
Working Capital Statement shall be prepared in accordance with GAAP.

(e)    The Seller Representative and its accountants shall have 30 days
after its delivery to review the Actual Closing Working Capital Statement. The
Seller Representative shall have access to the work papers of Purchaser and its
accountants used in preparing the Actual Closing Working Capital Statement. If
Seller Representative determines that the Actual Closing Working Capital has
not been calculated in accordance with Section 1.7(a) above, the
Seller Representative shall inform Purchaser in writing (an “Objection”), setting forth a specific description of the
basis of the Objection and an Actual Closing Working Capital Statement
reflecting the adjustments to the amount of the Actual Closing Working Capital
which the Seller Representative believes should be made, which Objection must
be delivered to Purchaser on or before the last day of such 30 day period. Purchaser
and the Seller Representative shall then have 30 days to attempt in good faith
to reach an agreement with respect to any disputed matters in respect of the
Actual Closing Working Capital. In reviewing any 

 6
 

Objection,
Purchaser and its accountants shall have reasonable access to the work papers
of the Seller Representative and its accountants. If Purchaser and the Seller
Representative are unable to resolve all of their disagreements with respect to
the determination of the foregoing items within said 30-day period, they shall
submit their respective prepared Actual Closing Working Capital Statement to
one of the “Big Four” accounting firms, or such other accounting firm, as the
Purchaser and Seller Representative shall agree, provided, that such accounting
firm has not provided any services to Sellers or Purchaser within the last
twenty-four months and does not anticipate providing such services to Sellers
or Purchaser in the next twelve months (the “Audit Firm”). The Audit Firm shall, acting as an expert
and not as an arbitrator, determine in accordance with this Agreement, and only
with respect to the remaining differences so submitted, whether and to what
extent, if any, the Actual Closing Working Capital Statement requires
adjustment. The Parties shall direct the Audit Firm to use all reasonable
efforts to render its determination within 30 days after such submission. The
Audit Firm’s determination regarding any such adjustment shall be conclusive
and binding upon Purchaser and the Sellers. The Party with the greatest
difference between its calculated amount and the adjusted amount finally
determined by the Audit Firm shall solely bear the fees and disbursements of
the Audit Firm in rendering its determination. Purchaser and the Seller
Representative shall make readily available to the Audit Firm all relevant
books and records and any work papers (including those of the Parties’
respective accountants) relating to the Actual Closing Working Capital
Statement and all other items reasonably requested by the Audit Firm. The “Final Working Capital
Statement” shall be deemed to be (i) the Actual Closing
Working Capital Statement if no Objection is delivered by during the 30 day
period specified above, or (ii) if an Objection is delivered by the Seller
Representative, the Actual Closing Working Capital Statement, as adjusted by
either (A) the agreement of the Parties or (B) the Audit Firm.

(f)    If the
Actual Closing Working Capital as reflected on the Final Working Capital
Statement is less than the Estimated Working Capital, then the difference
between such Actual Working Capital and the Estimated Working Capital, plus
interest at the prime rate (as set forth in the “Money Rates” section of The Wall Street Journal) on such amount from the Closing
Date through the date of payment, shall be paid by Sellers to Purchaser within
ten (10) days after the final determination of the Final Working Capital
Statement. If the Actual Working Capital as reflected on the Final Working
Capital Statement is greater than the Estimated Working Capital, then the
difference between such Actual Working Capital and the Estimated Working
Capital, plus interest at the prime rate (as set forth in the “Money Rates”
section of The Wall Street Journal) on such amount
from the Closing Date through the date of payment, shall be paid by Purchaser
to the Seller Representative, on behalf of each Seller, within ten (10) days
after the final determination of the Final Working Capital Statement. Purchaser
and Sellers hereby agree that any payment made pursuant to this paragraph (f) shall
be treated for “Tax” (as defined in Section 3.17(g)(i) purposes as a
decrease or increase, as the case may be, of the Adjusted Purchase Price.

(g)    Notwithstanding
Section 10.4(b), if it is determined that the Final Working Capital
Statement should have, in accordance with the terms of this Agreement, included
or excluded an amount(s) in such Final Working Capital Statement within two (2) years
following the Closing Date, then if the aggregate sum of such amounts is
greater than $50,000 then the full amount shall be paid to the appropriate
party.

1.8   Payment of Purchase Price.   At
the Closing, Purchaser shall pay the Adjusted Purchase Price in the following
manner:

(a)    deposit in escrow with the Escrow Agent (“Escrow Agent”), which shall be either SunTrust Bank,
National City Bank, NA or BankOne, NA and as identified in the form of Escrow
Agreement to be mutually agreed to by the Parties (the “Escrow Agreement”),
$9,652,232,
with an amount to be disbursed to the Seller Representative 135 days after the
Closing Date such that $3,860,894 shall 

 7
 

remain in
escrow and disbursed to the Seller Representative twenty-four months after the
Closing Date, and in each instance such disbursements shall be made in
accordance with the terms and conditions of the Escrow Agreement; provided, however, that
to the extent a written claim which is permitted by this Agreement has been
made by Purchaser prior to such 135-day period, the amount in question and set
forth in such written claim shall not be disbursed to the Seller Representative
until finally resolved pursuant to the terms of this Agreement;

(b)   pay or
cause to be paid to the Seller Representative, on behalf of each Seller (in
accordance with the amounts and percentages set forth on Schedule 2),
the aggregate amount of the Adjusted Purchase Price remaining after giving
effect to paragraph (a) of this Section 1.8.

All amounts paid pursuant to this Section 1.8
shall be via wire transfer of immediately available Federal Reserve funds to an
account to be designated in writing by the Seller Representative.

1.9   Contracts Not Transferable.

Notwithstanding any
provision of this Agreement to the contrary, nothing in this Agreement shall be
deemed to constitute an agreement to transfer or assign any Assumed Contract if
an attempted transfer or assignment, without the consent of any person, entity
or governmental or regulatory authority, would constitute a breach thereof or
in any way adversely affect the rights of Purchaser or the Sellers thereunder. Each
Seller and Purchaser shall use its commercially reasonable efforts to obtain
any consents or waivers required to assign to Purchaser all rights, benefits
and interests under each Assumed Contract without any conditions to such
transfer or changes or modifications of the terms thereunder (including pricing
terms), or make available to Purchaser the practical benefit of any such
Assumed Contract) as permitted by the terms thereof, in a manner to permit the
Business to be conducted in all material respects as currently conducted
following the Closing; provided, however, that the assignment of any agreement may (but is
not required to) include a full or partial release of all obligations of the
Sellers from any such agreement.

ARTICLE
2

INDIVIDUAL REPRESENTATIONS AND WARRANTIES

OF THE MEMBER GUARANTORS

Each Member
Guarantor hereby severally as to itself only (based on and limited to such Member
Guarantor’s percentage listed in Schedule 2)
and not jointly,represents and
warrants to Purchaser that, as of the date of this Agreement and as of the
Closing Date:

2.1   Organization and Good Standing.   If such
Member Guarantor is a corporation or limited liability company, as the case may
be, that it is duly incorporated, formed or organized, validly existing and in
good standing under the laws of the state of its incorporation, formation or
organization, as the case may be. Each such Member Guarantor which is a
corporation or limited liability company, as the case may be, has the necessary
corporate or limited liability company power and authority to carry on its
business as it is now being conducted.

2.2   Power and Authority.   Such Member Guarantor has the requisite power and
authority to enter into this Agreement, to perform its obligations hereunder
and to consummate the transactions contemplated hereby.

2.3   Due Execution; Binding Effect.   This Agreement, and each other certificate,
agreement, document or instrument to be executed and delivered by such Member
Guarantor in connection with the transactions contemplated by this Agreement,
has been or will be, as applicable, duly and validly executed and delivered by
such Member Guarantor and, assuming the due authorization, execution and
delivery hereof and thereof by the other parties thereto, constitutes or will
constitute, as applicable, a legal, valid and binding obligation of such Member
Guarantor, enforceable against such Member Guarantor in accordance with its
terms.

 8
 

2.4   No Violation; Consents.   Except for consents of, notices to, or filings with,
the Federal Trade Commission and the Department of Justice pursuant to the HSR
Act (as defined herein) and except as set forth in Schedule 3.4,
the execution, delivery and performance by such Member Guarantor of this
Agreement, and each other certificate, agreement, document or instrument to be
executed and delivered by such Member Guarantor in connection with the
transactions contemplated by this Agreement, the consummation of the
transactions contemplated hereby and thereby, and the fulfillment of and
compliance with the terms and conditions hereof and thereof, do not and will
not, with or without the passing of time or the giving of notice, or both:

(a)    violate or
conflict with any provision of the organizational documents of such Member
Guarantor, as applicable;

(b)   breach or
otherwise constitute or give rise to a default under, result in the loss of any
benefit under or permit the acceleration of any obligation under any contract,
commitment or other obligation to or by which such Member Guarantor is a party
or is bound;

(c)    violate
any statute, ordinance, law, rule, regulation, judgment, order or decree of any
court or other governmental or regulatory authority to which such Member
Guarantor is subject; or

(d)   require any
consent, approval, order or authorization of, notice to, or filing, recording,
registration or qualification with any person, entity, court or governmental or
regulatory authority.

2.5   No Amounts Owed to Member Guarantors.   No Seller owes or is obligated to pay such Member
Guarantor any amount, and such Member Guarantor has no claim of any kind
against any Seller or any affiliate, employee, officer, director or manager of
any Seller, in either case, for which Purchaser shall become liable or for
which the Acquired Assets will be subject to any Lien.

ARTICLE
3

REPRESENTATIONS AND WARRANTIES OF THE SELLERS

Each of the
Sellers, jointly and severally, hereby represents and warrants to Purchaser
that as of the date of this Agreement and as of the Closing Date:

3.1   Organization and Good Standing.   Each Seller is a corporation or limited liability
company, as the case may be, duly incorporated, formed or organized, validly
existing and in good standing under the laws of the state of its incorporation,
formation or organization, as the case may be. Seller has the necessary
corporate or limited liability company power and authority to carry on its
Business as it is now being conducted and to own and lease the properties and
assets it now owns and leases. Schedule 3.1
sets forth a true, correct and complete list of all jurisdictions in which each
Seller is operating its Business, and each Seller is duly qualified or licensed
to transact Business and is in good standing as a foreign company in each
jurisdiction where the character of its activities requires such qualification.

3.2   Power and Authority.   Each Seller has the requisite power and authority to
enter into this Agreement and each other certificate, agreement, document or
instrument to be executed and delivered by it in connection with the
transactions contemplated by this Agreement, to perform its obligations
hereunder and thereunder and to consummate the transactions contemplated hereby
and thereby. The execution, delivery and performance by each Seller of this
Agreement and each other certificate, agreement, document or instrument to be
executed and delivered by it in connection with the transactions contemplated
by this Agreement, and the consummation of the transactions contemplated hereby
and thereby, have been duly authorized by all necessary corporate or other
action, and no other corporate or other proceedings on the part of any Seller
are necessary to authorize the execution, delivery and performance of this
Agreement and each other certificate, agreement, document or instrument to be
executed and delivered by it in connection with the transactions contemplated
by this Agreement.

 9
 

3.3   Due Execution; Binding Effect.   This Agreement and each other certificate, agreement,
document or instrument to be executed and delivered by each Seller in
connection with the transactions contemplated by this Agreement, have been or
will be, as applicable, duly and validly executed and delivered by each Seller
and, assuming the due authorization, execution and delivery hereof and thereof
by each other party hereto and thereto, each constitutes or will constitute, as
applicable, a legal, valid and binding obligation of each Seller, enforceable
against each Seller in accordance with its terms.

3.4   No Violation; Consents.   Except for consents of, notices to, or filings with,
the Federal Trade Commission and the Department of Justice pursuant to the
Hart-Scott-Rodino Antitrust and Improvement Act of 1976, as amended (the “HSR Act”), and except as set forth
on Schedule 3.4, the execution, delivery
and performance by Sellers of this Agreement, and each other certificate,
agreement, document or instrument to be executed and delivered by it in
connection with the transactions contemplated by this Agreement, the
consummation of the transactions contemplated hereby and thereby, and the
fulfillment of and compliance with the terms and conditions hereof and thereof
do not and will not, with or without the passing of time or the giving of
notice, or both:

(a)    violate or
conflict with any provision of the Certificate of Formation, the Operating
Agreement or other organizational document, as the case may be, of any Seller;

(b)   breach or
otherwise constitute or give rise to a default under, result in the loss of any
benefit under or permit the acceleration of any obligation under any contract,
commitment or other obligation to or by which any Seller is a party or is
bound;

(c)    violate
any statute, ordinance, law, rule, regulation, judgment, order or decree of any
court or other governmental or regulatory authority to which any Seller is
subject; or

(d)   require any
consent, approval, order or authorization of, notice to, or filing, recording,
registration or qualification with any person, entity, court or governmental or
regulatory authority, other than “Leases” pursuant to the “Leased Real Property”
(as defined in Section 3.8) which require consent to assign.

3.5   Subsidiaries.

No Seller has any subsidiaries other than the
subsidiaries listed on Schedule 3.5. Except
for such subsidiaries listed on Schedule 3.5,
Seller (i) does not own or control any securities or own other investments
in any person or entity; and (ii) is not a participant in any joint
venture, partnership or similar arrangement.

3.6   Financial Statements.

(a)    Schedule 3.6(a) sets forth (i) the
audited financial statements of First American Holding for the years ended December 31,
2000, 2001, and 2002, (ii) the unaudited financial statements of First
American Holding for the year ended December 31, 2003, and (iii) the
unaudited financial statements of First American Holding for the two month
period ended February 29, 2004(collectively,
the “Initial Financial
Statements”). Except as set forth in Schedule
3.6(b), the Initial Financial Statements were prepared in accordance
with GAAP, may be reconciled with the books and records of First American
Holding, and fairly present in all material respects the financial condition of
First American Holding as of the dates indicated therein and the results of
operations of First American Holding for the periods covered thereby, subject
to the lack of footnote disclosure and changes resulting from normal year-end adjustments
for the unaudited financial statements, none of which, in the aggregate, would reasonably
be likely to have a Material Adverse Effect. When delivered to Purchaser
pursuant to Section 5.6, the “Final Financial Statements” (as defined in Section 5.6)
will have been prepared in accordance with GAAP, will be reconcilable with the
books and records of First American Holding and will fairly present in all
material respects the financial condition of First American Holding as of 

 10
 

the dates
indicated therein and the results of operations of First American Holding for
the period covered thereby.

(b)   Notwithstanding anything to the
contrary, Sellers and Member Guarantors shall not be liable to the Purchaser or
any other person, and Purchaser and its assignees shall have absolutely no
claims against Sellers or the Member Guarantors, for a breach of this Section 3.6
whether through Article 10 or otherwise, for the manner or year in which
Sellers have booked (or not booked, as the case may be) or reserved (or not reserved,
as the case may be) any liabilities or expenses relating to changes in or new
laws or interpretations of such laws (including, but not limited to, statutes,
ordinances, regulations, administrative proceedings, lawsuits, interpretations
by any regulatory agency or any similar actions causing such changes in laws,
new laws or changes in interpretations), judicial or administrative judgments
(including, but not limited to, the Georgia Lawsuits and Georgia House
Substitute to Senate Bill 157 or any related or similar bill which prohibits
the Bank Model (as defined herein) in Georgia (the “Proposed Georgia Law”),
arbitration decisions, rulings, orders, any changes affecting the industry of
the Business in general (the “Industry”),
and the like, regardless whether pending as of the date of this Agreement or
arising after the date of this Agreement; provided, however, that this Section 3.6(b) shall not
relieve Sellers from disclosing to Purchaser the matters described in this Section 3.6(b) to
the extent required pursuant to Section 5.8.

3.7   No Undisclosed Liabilities.   Except as set forth in Schedule 3.7,
Sellers do not have any indebtedness, liability, or obligation of any nature
that is required by GAAP to be reflected on a balance sheet except (a) those
reflected in the Latest Balance Sheet of First American Holding, or (b) liabilities
incurred since the date of the Latest Balance Sheet in the ordinary course of
Business consistent with such Sellers’ past practices. Sellers do not have any
obligations (absolute or contingent) to provide funds on behalf of, or to
guarantee or assume any debt, liability or obligation of, any person or entity
that will be an Assumed Liability or result in a Lien on the Acquired Assets.

3.8   Real Property.   Seller does not own any real property. Schedule 3.8(a) sets forth a correct and complete list
of the real property leased by each Seller (the “Leased Real Property”), and Seller has previously
delivered (or will have delivered within 20 days after the date of this
Agreement) to Purchaser a true and complete copy of all its real property
leases and agreements in respect of the Leased Real Property (collectively, the
“Real Property Leases,”
and together with the leased personal property, the “Leases”). Except as set forth on Schedule
3.8(b), Seller holds an unencumbered interest in the leasehold
estate of all such Leased Real Property and is not a party to any oral leases
in respect thereof. None of such Leased Real Property is carried as an asset on
the books of Seller other than as leasehold improvements. None of such Leased
Real Property is subject to any easement, right of way, grant, building or use
restriction, exception, reservation, limitation or other impediment, except as
would not reasonably be likely, in the aggregate, to have a Material Adverse
Effect on the Business, and the Sellers currently enjoy peaceful and
undisturbed physical possession of all such Leased Real Property. Seller does
not use or have any interest in any real property, other than the Leased Real
Property. Seller is not in material violation of any zoning, building or safety
ordinance, regulation or requirement or other law or regulation applicable to
the operation of the Leased Real Property.

3.9   Title to Assets.

(a)    Except for the Leased Real Property, the leased tangible property
set forth on Schedule 3.9(a)(1) (the
“Leased Personal Property”),
and any licensed Intellectual Property, Seller owns all of the Acquired Assets,
free and clear of any and all Liens other than (i) Liens for Taxes not yet
due or in default and payable without penalty and interest; (ii) Liens
fully reflected or reserved against in the Latest Balance Sheet; and (iii) Liens
to be discharged by Seller on or prior to Closing (which are set forth on Schedule 3.9(a)(2)). There are no existing or proposed
agreements, options, commitments or rights with, of or to any person or
governmental authority to acquire or to condemn, 

 11
 

expropriate
or otherwise take without payment any of the Acquired Assets or any interest
therein, and all of the tangible personal property included in the Acquired
Assets are in good repair and operating condition in all material respects
(normal wear and tear excepted). Seller has heretofore delivered (or will have
delivered within 20 days after the date of this Agreement) to Purchaser a true
and complete copy of all Leases and agreements in respect of the Leased
Personal Property, and, except as set forth on Schedule
3.9(a)(3), Seller holds an unencumbered interest in the leasehold
estate of all such Leased Personal Property and is not a party to any oral
leases in respect thereof. None of such Leased Personal Property is carried as
an asset on the books of Seller. None of the Acquired Assets are subject to any
sublease, license or grant of any rights thereto to any third party, other than
as set forth in Schedule 3.9(a)(4).

(b)   Except as
set forth on Schedule 3.9(b)(1), the Acquired
Assets constitute all assets and properties necessary to permit Sellers to
conduct the Business in accordance with such Seller’s past practices. Schedule 3.9(b)(2) sets forth a complete list of all
assets that are shared by Seller and any of the Excluded Businesses.

3.10   Intellectual Property.

(a)    Schedule 3.10(a) contains a correct and complete
description of all “Registered Intellectual Property” (as defined herein).

(b)   Schedule 3.10(b) contains a correct and complete
description of all “Intellectual Property” licensed to any Seller from a third
party or licensed by any Seller to a third party.

(c)    Except as
set forth on Schedule 3.10(c):

(i)          Seller owns good, valid, legal and beneficial title to, or,
with respect to Intellectual Property licensed to Seller, a valid right to use,
all of the Intellectual Property, free and clear of any and all Liens;

(ii)        No royalty, payment or other fee is
required to be paid by Seller to any individual, entity or governmental
authority in respect of the use of any of the Intellectual Property;

(iii)       Sellers have the exclusive right to their
use of all of the Intellectual Property owned by Sellers and have not granted
any license or other rights to any person or entity in respect of the
Intellectual Property;

(iv)        There are no restrictions on the ability
of Sellers (or any successor to or assignee from Seller) to use and exploit any
or all of Seller’s rights in the Intellectual Property owned by Seller;

(v)         To the Knowledge of Sellers, all statements contained in all
applications prepared by Seller for the registration of any Intellectual
Property were, are and will be, as the case may be, true, correct and complete;

(vi)        The current and past conduct of the
Business of Sellers and the use by Sellers of the Intellectual Property do not
infringe, and Sellers have not received, and, to Sellers’ Knowledge, no fact or
circumstance exists which could give rise to, any notice, demand, action,
proceeding, complaint, threat or claim alleging infringement of, any patent,
trademark, trade name, trade secret, obligation of confidence or other
proprietary, contract or intellectual property right of any individual, entity
or governmental authority;

(vii)      There is no claim or demand of any person
or entity pertaining to, or any proceeding which is pending or, to the
Knowledge of Sellers, threatened that challenges the rights of Sellers in
respect of any Intellectual Property and none of the Intellectual Property is
subject to any 

 12
 

outstanding order,
ruling, decree, judgment or stipulation by or with any court, tribunal,
arbitrator or governmental or regulatory authority;

(viii)     To Sellers’ Knowledge, none of the owned
Intellectual Property of such Sellers is being infringed by any other person or
entity; and

(ix)        Sellers are not in breach of any
agreement under which they acquire or have acquired any claim in any
Intellectual Property, and, to Sellers’ Knowledge, no party with whom Sellers
have an agreement relating to any Intellectual Property is in breach of such
agreement.

(d)   For
purposes of this Agreement, the following terms shall have the following
meanings:

(i)          “Intellectual Property” means all intellectual property
(other than off-the-shelf software that can be transferred without the consent
of any party), whether in existence or under development, owned, held or used
by Seller in the Business, including, without limitation: (i) all
inventions, improvements and discoveries, whether or not reduced to practice
and whether or not made the subject of a pending patent application or
applications; (ii) national, regional and multinational statutory
invention registrations, patents, patent registrations and patent applications
(including all reissues, division, continuations, continuations in part,
extensions, reexaminations and all foreign counterparts) and all rights therein
provided by international treaties or conventions and any and all improvements
or enhancements to the inventions disclosed in each such registration, patent
or application; (iii) all trademarks, service marks, trade dress, get-up,
logos, trade names, domain names and corporate names, and all associated
goodwill, whether or not registered, including all rights under all trademark
applications and all trademarks registered in the trademark offices or
authorities of all nations throughout the world, and all rights therein
provided by international treaties and conventions; (iv) all copyrights
(registered or otherwise) and all rights under any registrations and
applications for registration thereof, and all rights therein provided by
international treaties or conventions; (v) all computer hardware and
computer software, including source codes, interfaces, operating systems, file
and data models, specifications, data, databases, files, documentation and any
and all other materials related thereto, and all intellectual property rights
in and to any of the foregoing, including any copyrights; (vi) all
confidential information and trade secrets, including formulas, compositions
inventions and conceptions of inventions, whether patentable or unpatentable
and whether or not reduced to practice; (vii) all rights to obtain any
rights to apply for patents, and to register trademarks, industrial design and
copyrights or other intellectual property rights; (viii) all rights and
benefits under any license arrangements or agreements with any third parties
whether express, implied or by reason of conduct or nature of trade in respect
of any of the foregoing; and (ix) all rights whether arising at law, in
equity or by course of conduct, under any agreements under which Seller may
make any claim to any right, title or interest in any of the foregoing or
related possessory or other proprietary right of any individual, entity or
governmental authority.

(ii)        “Registered Intellectual Property” means all United
States, international and foreign (i) patents and patent applications
(including provisional applications); (ii) registered trademarks and
service marks, applications to register trademarks or service marks,
intent-to-use applications, other registrations or applications to trademarks
or service marks; (iii) registered copyrights and applications for
copyright registration; (iv) any mask work registrations and applications
to register mask works; and (v) any other Intellectual Property that is
the subject of an application, certificate, filing, registration or other
document issued by, filed with, or recorded by, any state, government or other
public legal authority to protect or perfect Seller’s rights in such
Intellectual Property other than filings to perfect Liens or other security
interests in such Intellectual Property.

 13
 

3.11   Notes and Receivables.

(a)    (i)          Each
Seller has delivered to Purchaser complete and accurate information in all
material respects (either on computer disk or hard copy format) of all receivables
of Seller, including, without limitation, information with respect to aging
dated within ten (10) days of the date of the execution of this Agreement.
None of Sellers’ receivables have been written off by Sellers since the Latest
Balance Sheet, have been factored, pledged, turned over for collection or
assigned to any person or third party, other than in the ordinary course of
Sellers’ business consistent with past practices, and pledges of receivables to
Bank One, which shall be discharged by Sellers on or prior to the Closing Date.
Provided, however, all the promissory notes receivables created under the bank
model (the “Bank Model”)
created pursuant to the agreements described on Schedule
3.11(a) (the “Bank
Agreements”), are owned by Community State Bank, and not by
Sellers; provided, however,
that any receivables that may have been assigned by Community State Bank to the
Sellers in accordance with the Bank Agreements will be assigned to the
Purchaser at the Closing.

(ii)        All receivables of Sellers resulting
from indebtedness of customers of Sellers (but not including the receivables
created under the Bank Model) included in the Acquired Assets (the “Business Receivables”)
are valid and at the time of their creation complied in all material respects
with all laws and regulations applicable thereto and pursuant to an agreement
that complied in all material respects with all laws and regulations. All
receivables created under the Bank Model have been created in accordance with
the Bank Agreements insofar as the acts of Sellers are concerned. None of
Seller’s Business Receivables are subject to any valid defenses, counterclaims
or rights of setoff (including defenses arising out of violations of usury
laws), other than (x) defenses arising out of applicable bankruptcy,
insolvency, reorganization, moratorium or other similar laws affecting the
enforcement of creditors’ rights in general, and (y) the right of a customer to
rescind an agreement under applicable law. All Business Receivables of Seller
were originated in the ordinary course of business and were made pursuant to
such Seller’s standard customer agreement (other than the employee loans which
have been disclosed to the Purchaser), which agreements are legal, valid and
binding and enforceable against the account payor in accordance with their
terms. Provided, however, all of the provisions of this Section 3.11(a)(ii) shall
be deemed null and void ab initio with
respect to such Business Receivable on the earliest to occur of the date that
such Business Receivable is redeemed, paid off, renewed, rolled-over, replaced
or resolved pursuant to collection efforts or written off no later than ninety
(90) days after the due date of the particular Business Receivable; provided, further, that
any liability of Sellers to any account debtor or governmental agency or body
in connection with any Business Receivable shall remain the sole responsibility
of Sellers (or Community State Bank as to the business receivables at the date
of Closing it owns) unless such liability arises as a result of an action,
omission or event by the Purchaser after the Closing. All of the Business
Receivables will be assigned by Sellers to Purchaser at Closing without any
warranty of collectibility, but nevertheless such Business Receivables will be
subject to this Section 3.11(a)(ii).

(b)   Schedule 3.11(b) hereto sets forth a correct and
complete list of each note receivable, account receivable and other receivable
owned by or due to Seller, including any reserves associated therewith, that
individually is (i) over $15,000; or (ii) entered outside of the
ordinary course of such Seller’s Business consistent with its past practices.

 14

3.12   Contracts and
Commitments.   Schedule 3.12(a) sets forth a correct and complete list
of all material contracts, agreements and commitments that remain in effect or
which the parties thereto continue to operate under, including, without
limitation, all of the following:

(a)    all
indentures, security agreements, and other agreements and instruments relating
to the borrowing of money by Seller or the creation of any Lien on the Acquired
Assets;

(b)   all form
agreements and form customer contracts that are currently in effect for
short-term consumer loans and all other customer agreements and contracts that
are currently in effect for short-term consumer loans not in accordance with
any such form that are still open and not charged off;

(c)    all management agreements, consulting
agreements, arrangements or agreements related to temporary services of any
kind that require payments, individually, greater than $25,000 annually, and
employment agreements;

(d)   all union
and other collective bargaining agreements;

(e)    all
agreements and licenses in respect of the Intellectual Property;

(f)    all
current contracts or outstanding commitments relating to the sale by Seller of
any asset other than in the ordinary course of Business consistent with such
Seller’s past practices;

(g)    all
agreements for capital expenditures in excess of $25,000 for any single
project;

(h)   all joint
venture agreements;

(i)    all
agreements requiring the consent of any party thereto to the consummation of
the transactions contemplated by this Agreement;

(j)     all
Leases in respect of the Leased Real Property and the Leased Personal Property;

(k)   all
agreements prohibiting, partially restricting, or otherwise limiting the
ability of Sellers to compete, solicit customers or otherwise conduct any
business anywhere in the world; and

(l)    other than as addressed above and other than utility contracts (“Utility Contracts”),
all other agreements, contracts and commitments that involve payments of more
than $25,000 in any single year, or that are otherwise material to such Seller.

Except as set forth on Schedule
3.12(b), each contract, agreement or commitment listed on Schedule 3.12(a) was entered into in the ordinary
course of business consistent with such Seller’s past practices, is in full
force and effect, is valid and enforceable in accordance with its terms, and
constitutes a legal and binding obligation of Seller, and, to Seller’s
Knowledge, each other party thereto. Seller has neither given nor received, and
no fact or circumstance exists which could give rise to, any notice of default,
termination or partial termination under any contract or agreement listed on Schedule 3.12(a) and included in the Acquired Assets,
and there is no existing or continuing default by Seller or, to the Knowledge
of Seller, any other party in the performance or payment of any obligation
under any such contract or agreement, other than defaults by customers of a
Seller (and of Community State Bank) in the ordinary course of business, and
Sellers are in compliance in all material respects with the provisions of each
such contract or agreement. Sellers have previously delivered (or will have
delivered within 20 days after the date of this Agreement) to Purchaser a
correct and complete copy of each contract or agreement required to be listed
on Schedule 3.12(a).

 15
 

3.13   Ordinary Course of Business.   Except as set forth on Schedule
3.13, or as relates to the Georgia Lawsuits or to the Proposed
Georgia Law, since December 31, 2003, each Seller has conducted its
Business in the ordinary course consistent with such Seller’s past practices,
and, without limiting the generality of the foregoing, since such date:

(a)    each
Seller has not suffered any Material Adverse Effect;

(b)   there has
been no destruction or loss of or to any of the Acquired Assets, whether or not
covered by insurance, or any deterioration in the condition of the Acquired
Assets, except in each case, as would not reasonably be likely, in the
aggregate, to have a Material Adverse Effect on Sellers other than charge-offs
of receivables in the ordinary course of business;

(c)    there has
been no sale, transfer or other disposition of any material assets, other than
in the ordinary course of Business consistent with such Seller’s past
practices;

(d)   the books,
accounts and records of Seller have been maintained in the usual, regular and
ordinary manner in accordance with GAAP;

(e)    there has
been no labor dispute, organizational effort by any union, unfair labor
practice charge or employment discrimination charge, nor institution or threatened
institution of any effort, complaint or other proceeding in connection
therewith, involving such Seller;

(f)    there has
been no amendment, termination or waiver of any right of Seller under any
contract or agreement material to Sellers or under any governmental license,
permit or authorization, other than in the ordinary course of Business
consistent with such Seller’s past practices;

(g)    there has
been no: (i) increase in the compensation, distribution or in the rate of
compensation, distribution or commissions payable or to become payable by
Sellers to any “Employees” (as defined in Section 3.21(a)), salesman,
independent contractors or agents of Sellers, other than in the ordinary course
of Business consistent with such Seller’s past practices; (ii) increase in
any payment of or commitment to pay any distribution, bonus, profit sharing or
other extraordinary compensation to any Employee, salesman, independent
contractor or agent of Seller, other than in the ordinary course of Business
consistent with such Seller’s past practices; or (iii) grant or commitment
to grant any increase in or right to severance or termination pay or any other
compensation, distribution or benefits payable to any Employee upon a change of
control of any Seller; provided, however, this provision does not apply to any “Excluded
Employees” (as defined in Section 9.5(a));

(h)   as of the
date of this Agreement, there has been no change in any law or regulation
applicable to Seller in any jurisdiction in which any Seller conducts its Business,
except as would not, in the aggregate, have a Material Adverse Effect;

(i)    there has
been no Lien created on or in any of the Acquired Assets or assumed by Seller
with respect to any of the Acquired Assets, other than in the ordinary course
of Business consistent with such Seller’s past practices;

(j)     there has
been no creation of, amendment to or contributions, grants, payments or
accruals for or to the credit of any employee of Sellers with respect to any
bonus, incentive compensation, deferred compensation, profit sharing,
retirement, pension, group insurance or other benefit plan, or any union,
employment or consulting agreement or arrangement, other than in the ordinary
course of business consistent with such Seller’s past practices; and

(k)   Sellers
have neither made nor committed to make any capital expenditures, other than in
the ordinary course of business or as contemplated by this Agreement.

3.14   Litigation.   Except as set forth on Schedule
3.14, there is no litigation, action, suit, arbitration, mediation,
hearing or governmental investigation pending or, to the Knowledge of Seller,
threatened 

 16
 

against Seller (i) which
affects the legality, validity or enforceability of this Agreement or the
transactions contemplated hereby or which seeks to obtain damages or obtain
relief as a result of the transactions contemplated by this Agreement, or (ii) which
would reasonably be likely to have a Material Adverse Effect on Sellers or the
Acquired Assets. No judgment, award, order or decree has been rendered against
Sellers which is still outstanding. Except as set forth in Schedule
3.14, there is no action or suit by Sellers pending or threatened
against any other party, including, without limitation, any action brought by
Sellers to enforce any non-competition agreement, other than collection actions
by Sellers to collect their (and Community State Bank’s) receivables in
accordance with past practices.

3.15   Compliance with Laws; Federal Regulations.

(a)    Except as
set forth on Schedule 3.15(a), Sellers are in
compliance with, and have in the past three years (except for the settled
Arkansas lawsuits identified on Schedule 3.14)
complied, in all material respects, with all statutes, laws, rules,
regulations, orders, decrees and ordinances applicable to it or the operation
of its Business, including, without limitation, applicable local, state and
federal statutes and regulations with respect to short-term loans, usury
statutes, the Equal Credit Opportunity Act and Regulation B promulgated
thereunder, the federal Truth-in-Lending Act and Regulation Z promulgated
thereunder, the federal Fair Credit Reporting Act, the Federal Trade Commission’s
Rule on Credit Practices, and any statutes or regulations with respect to
the collection of debts, and Sellers have not received written notice of any
such violation; provided, however,
that other than as specifically provided in Section 3.11(a)(ii), the
Sellers and the Member Guarantors are not and shall not be responsible or
liable to Purchaser or its assignees (i) for the Purchaser’s or its
assignees’ operations of the Business on and after the Closing Date or (ii) for
a breach of this Section 3.15(a) as a result of changes in laws or
interpretations of such laws (including, but not limited to, statutes,
ordinances, regulations, administrative proceedings, lawsuits, interpretations
by any regulatory agency or any similar actions causing such changes in laws,
new laws or changes in interpretations), judicial or administrative judgments
(including, but not limited to, the Georgia Lawsuits, Proposed Georgia Law or
threatened lawsuits against other persons in the Industry), arbitration
decisions, or rulings or orders affecting the Industry in general, and the
like, regardless whether pending as of the date of this Agreement or arising
after the date of this Agreement; provided, however, that this Section 3.15(a) shall not
relieve the Sellers from disclosing to the Purchaser those items which are
required to be disclosed by the Sellers to the Purchaser pursuant to Section 5.8.
Except as set forth on Schedule 3.14 or Schedule
3.15(a), no Seller has been presently charged with nor has received,
any written notice of any adverse proceeding material to Sellers or the
Business that remains unresolved as of the date of this Agreement. Provided,
however, that all provisions of this Section 3.15(a), insofar as is
applicable to Business Receivables, shall be deemed null and void ab  initio with respect
to each and every Business Receivable on the earliest to occur of the date that
such Business Receivable is redeemed, paid off, renewed, rolled-over, replaced
or resolved pursuant to collection efforts or written off no later than ninety
(90) days after the due date of the particular Business Receivable; provided, further, that
any liability to any account debtor or governmental agency or body in
connection with a Business Receivable remain the sole responsibility of Sellers
(or as to the receivables of Community State Bank at the Closing shall be
governed by the Bank Agreements).

(b)   Neither
Sellers nor any of their subsidiaries nor any person or entity controlling,
controlled by or under common control with Sellers or any of its subsidiaries
is an “investment company” within the meaning of the Investment Company Act of
1940, as amended. Neither Sellers nor any of their subsidiaries is an “affiliated
person” of, or “promoter” or “principal underwriter” for, an “investment
company,” as such terms are defined under the Investment Company Act of 1940,
as amended.

3.16   Permits and Licenses.   Except as set forth on Schedule
3.16(a) or as a result of changes in laws or
interpretations of such laws (including, but not limited to, statutes,
ordinances, regulations, administrative proceedings, lawsuits, interpretations
by any regulatory agency or any similar actions 

 17
 

causing such changes in
laws, new laws or changes in interpretations), judicial or administrative
judgments (including, but not limited to, the Georgia Lawsuits and the Proposed
Georgia Law), arbitration decisions, rulings, orders, any changes affecting the
Industry in general, and the like regardless whether pending as of the date of
this Agreement or arising after the date of this Agreement, each Seller (i) has all material
licenses, permits, approvals and authorizations required by federal, state and
local governmental or regulatory authorities which are necessary to conduct the
Business in a manner consistent with Seller’s past practices, to own or hold
under lease the Acquired Assets it owns or holds under lease and to perform all
of its obligations under the agreements to which it is a party, including
without limitation, all licenses and regulatory approvals relating to deferred
presentment, deferred deposit, and short-term and other loan transactions; and (ii) is
in compliance with all such licenses, permits, approvals and authorizations,
except, in each case as would not reasonably be likely to have, in the
aggregate, a Material Adverse Effect on any Seller or the Acquired Assets. Schedule 3.16(b) sets forth a correct and complete list
of all such licenses, permits, licenses, approvals and authorizations and,
except as set forth on Schedule 3.16(b)(1),
to Sellers’ Knowledge, no suspension, cancellation or imposition of limitations
of any of them is threatened.

3.17   Taxes.   Except
as set forth on Schedule 3.17(a):

(a)    Sellers
have timely filed all “Tax Returns” (as hereinafter defined) that it was
required to file, all such Tax Returns were correct and complete in all
material respects, and all Taxes owed by Seller (whether or not shown on any
Tax Return) have been paid. Sellers are not currently the beneficiary of any
extension of time within which to file any Tax Return. To Sellers’ Knowledge,
no claim has ever been made by an authority in a jurisdiction where Sellers do
not file Tax Returns that they are or may be subject to taxation by that
jurisdiction. There are no Liens on any of the Acquired Assets of Sellers that
arose in connection with any failure (or alleged failure) to pay any Tax.

(b)   Sellers
have accrued, withheld or paid to the applicable tax authority all Taxes
required to have been withheld and paid in connection with amounts paid or
owing to any employee, independent contractor, creditor, owner or other third
party, and all Form W-2 and 1099 required with respect thereto have been
properly completed and timely filed.

(c)    No officer
(or employee responsible for Tax matters) of Sellers expects any authority to
assess any additional Taxes for any period for which Tax Returns have been
filed. There is no ongoing audit or examination or, to the Sellers’ Knowledge,
other investigation by any governmental or regulatory authority of the Tax
liability of Seller, and there is no dispute or claim concerning any Tax
liability of Seller either (i) claimed or raised by any authority in
writing or (ii) as to which Sellers have Knowledge (or owners or employees
of Sellers responsible for Tax matters has knowledge) based upon personal
contact with any agent of such authority. Schedule 3.17(b) lists
all federal, state, local, and foreign income Tax Returns filed with respect to
Sellers for taxable periods ended on or after December 31, 2000, indicates
any Tax Returns since Seller’s formation that have been audited and indicates
any Tax Returns of Seller that currently are the subject of audit. Sellers have
delivered (or will have delivered within 20 days after the date of this
Agreement) to Purchaser correct and complete copies of all income Tax Returns
(specifically excluding any lost property Tax Returns), examination reports,
and statements of deficiency assessed against or agreed to by such Sellers
since December 31, 2000.

(d)   Sellers
have not waived any statute of limitations in respect of Taxes or agreed to any
extension of time with respect to a Tax assessment or deficiency.

(e)    The unpaid
Taxes of Sellers (A) did not, as of the most recent fiscal month end,
exceed the reserve for Tax liability (rather than any reserve for deferred
Taxes established to reflect timing differences between book and Tax income)
set forth on the face of the Latest Balance Sheet (rather than in any notes
thereto) and (B) do not exceed that reserve as adjusted for the passage of
time 

 18
 

through the Closing Date
in accordance with the past custom and practice of Seller in filing its Tax
Returns.

(f)    None of
the Assumed Liabilities is an obligation to make a payment that is not
deductible under Code Section 280G. Seller (i) has not been a member
of an affiliated group filing a consolidated federal income Tax Return or a
member of any group of entities filing a combined or consolidated Tax Return,
other than consolidated Tennessee franchise Tax Returns; (ii) has never
elected to be (or been) taxed as corporation for federal, state, local or
foreign tax purposes; and (iii) has no liability for the Taxes of any
individual or entity under Regulation § 1.1502-6 promulgated under the
Code (or any similar provision of state, local or foreign law), as a transferee
or successor, by contract, or otherwise.

(g)    For purposes of this Agreement, the following terms shall have
the following meanings:

(i)          “Tax”
or “Taxes” means any federal,
state, local, or foreign income, gross receipts, license, payroll, employment,
excise, severance, stamp, occupation, premium, windfall profits, environmental
(including Taxes under Code Section 59A), customs duties, capital stock,
franchise, profits, withholding, social security (or similar), unemployment,
disability, real property, personal property, sales, use, transfer,
registration, value added, alternative or add-on minimum, estimated, or other
tax of any kind whatsoever, whether computed on a separate or consolidated,
unitary or combined basis or in any other manner, including any interest,
penalty, or addition thereto, whether disputed or not and including any
obligation to indemnify or otherwise assume or succeed to the Tax liability of
any other person or entity.

(ii)        “Tax Return”
means any return, declaration, report, claim for refund, or information return
or statement relating to Taxes, including any schedule or attachment thereto,
and including any amendment thereof.

3.18   Insurance.   Schedule 3.18 hereto contains a complete list and
description (including the expiration date, premium amount and coverage thereunder)
of all policies of insurance and bonds presently maintained by, or providing
coverage for Sellers or any of its officers, directors, managers or employees
in their capacities as such, together with a complete list of all material
claims made within the last two (2) years and all pending claims under any
such policies or bonds, other than claims with respect to health, medical and
other similar insurance. Sellers have complied in all material respects with
all terms, obligations and provisions of each of such policies and bonds and
have paid all premiums due thereon, and no notice of cancellation with respect
thereto has been received by Sellers. To the Knowledge of Sellers, no state of
facts exists with respect to which Sellers would file in the ordinary course of
its Business consistent with such Seller’s past practices, but has not filed,
any material insurance claim.

3.19   Environmental.

(a)    Each of
Seller and each Seller’s leasehold interest in the Leased Real Property are and
have been in compliance in all material respects with all “Environmental Laws”
(as hereinafter defined);

(b)   To the
Knowledge of Sellers, there has been no “Release” (as hereinafter defined) by
any Seller at any of the Leased Real Property, or, to the Knowledge of Sellers,
at any disposal or treatment facility which received “Hazardous Substances” (as
hereinafter defined) generated by or from such Seller and/or the Leased Real
Property;

(c)    No “Environmental
Action” (as hereinafter defined) is pending, has been asserted against or, to
the Knowledge of Sellers, is threatened against any Seller;

(d)   To the
knowledge of Sellers, the Leased Real Property has not been used as a treatment
or disposal site for any Hazardous Substances during the period of Seller’s
operation thereof;

 19
 

(e)    Each
Seller holds all licenses, permits and approvals required by that Seller by any
regulatory authority under any Environmental Laws in connection with the
operation of the Business;

(f)    With
respect to Sellers and the Leased Real Property, Sellers are not aware of and
have not received any written notification pursuant to any Environmental Laws
that (i) any work, repairs, corrective or remedial action, construction or
capital expenditures are required to be made as a condition of continued
compliance with any Environmental Laws or any license, permit or approval
issued pursuant thereto; (ii) any material license, permit or approval
under any Environmental Laws is about to be reviewed, made subject to
limitations or conditions, revoked, withdrawn or terminated; or (iii) any
events, conditions, circumstances, activities, practices, incidents, actions or
omissions may interfere with or prevent compliance or continued compliance with
any Environmental Law; and

(g)    Sellers
have previously delivered (or will have delivered within 20 days after the date
of this Agreement) to Purchaser a copy of all reports, assessments,
investigations, permits, correspondence and other documents and information
whatsoever which relate to the compliance status of such Seller or the Leased
Real Property under any Environmental Laws.

(h)   For the
purposes of this Section 3.19, the following terms shall have the
following meanings:

(i)          “Environmental Action” means any complaint, summons,
action, citation, notice, directive, order, claim, litigation, investigation,
request for information, judicial or administrative proceeding or action,
judgment, letter or other communication from any person or regulatory authority
involving or alleging violations of Environmental Laws or Releases or
threatened Releases of Hazardous Substances.

(ii)        “Environmental Laws” means all applicable federal, state
or local laws, statutes, ordinances, rules, regulations, orders, principles of
common law, judgments, decrees, permits, licenses or other binding
determinations of any regulatory authority, now or hereafter in effect,
imposing liability, establishing standards of conduct or otherwise relating to
pollution or protection of the environment (including, without limitation,
natural resources, surface water, groundwater, soils, and ambient air), human
health and safety, land use matters or the presence, use, generation,
treatment, storage, disposal, Release or threatened Release, transport or
handling of Hazardous Substances.

(iii)       “Hazardous Substances” means (a) any substance,
material, element, compound, waste or chemical, whether solid, liquid or
gaseous which is defined, listed or otherwise classified or regulated in any
way as a “contaminant,” “pollutant,” “toxic pollutant,” “toxic substance,” “hazardous
substance,” “hazardous waste,” “special waste,” or “solid waste” under any
Environmental Laws; (b) petroleum and its refined products; (c) polychlorinated
biphenyls; (d) radon; and (e) any raw materials, building components
(including, without limitation, asbestos-containing materials) and manufactured
products containing hazardous substances listed or classified as such under Environmental
Laws.

(iv)  “Release”
means any spilling, leaking, pumping, pouring, emitting, emptying, discharging,
injecting, escaping, leaching, seeping, migrating, dumping or disposing of any
Hazardous Substances (including the abandonment or discarding of barrels,
containers and other closed receptacles containing any Hazardous Substances)
into the indoor or outdoor environment.

3.20   Employee Benefits.

(a)    Schedule 3.20(a) lists, with
respect to each Seller and any trade or business (whether or not incorporated)
which is treated as a single employer with Seller (an “ERISA Affiliate”) within the meaning of Section 414(b),
(c), (m) or (o) of the Internal Revenue Code of 1986, as amended (the 

 20
 

“Code”), all employee benefit plans
(as defined in Section 3(3) of the Employee Retirement Income
Security Act of 1974, as amended (“ERISA”)
with respect to which Seller is a plan sponsor, participating employer, or with
respect to which Employees are participants or eligible to participate, or
which is required to be aggregated with a Business ERISA Plan for purposes of
nondiscrimination testing under Code Section 410 or 401(k) (each a “Business ERISA Plan”).
Schedule 3.20(a) also separately
lists, with respect to Seller, any plan, benefit, program or arrangement not
otherwise a Business ERISA Plan that provides for (i) any supplemental
retirement, severance, sabbatical, medical, dental, vision care, disability,
employee relocation, cafeteria benefit (Code Section 125) or dependent
care (Code Section 129), life insurance or accident insurance plans,
programs or arrangements for the benefit of Employees, (ii) any bonus,
pension, profit sharing, savings, deferred compensation or incentive plans,
programs or arrangements for the benefit of Employees, and (iii) any other
fringe or employee benefit plans, programs or arrangements that apply to
Employees (all of which, together with the Business ERISA Plans, are referred
to herein as the “Business
Employee Plans”).

(b)   Each Seller
has previously delivered (or will have delivered within 20 days after the date
of this Agreement) to Purchaser a copy of each of the Business Employee Plans
and related plan documents (including trust documents, insurance policies or
contract, employee booklets, summary plan descriptions and other authorizing
documents, and, to the extent still in its possession, any material employee
communications relating thereto) and has, with respect to each Business ERISA
Plan which is subject to ERISA reporting requirements, provided a copy of the
most recent Form 5500 reports filed for the plan.

(c)    Any
Business ERISA Plan intended to be qualified under Section 401(a) of
the Code is qualified, and has either obtained from the Internal Revenue
Service a favorable determination letter as to its qualified status under the
Code, or has applied to the Internal Revenue Service for such a determination
letter. Sellers have also furnished Purchaser with the most recent Internal
Revenue Service determination letter issued with respect to each such Business
ERISA Plan, and nothing has occurred since the issuance of each such letter
which could reasonably be expected to cause the loss of the tax-qualified
status of any Business ERISA Plan subject to Code Section 401(a).

(d)   No Business
ERISA Plan is a “defined benefit plan” (as defined in Section 3(35) of
ERISA), and each Seller has no actual or potential liability with respect to
any defined benefit plan. Seller is not a party to, has not made a contribution
to, and has no liability or potential liability (including, but not limited to,
actual or potential withdrawal liability) with respect to any multi-employer
plans within the meaning of ERISA Section 4001(a)(3) or any Business
ERISA Plan of the type described in ERISA Section 4063 and 4064 or in Code
Section 413(c). Neither any Seller nor any affiliate of Seller, is subject
to any liability or penalty under Sections 4975 through 4980 of the Code or
Title I of ERISA with respect to any of the Business ERISA Plans. With respect
to the Business Employee Plans, all contributions attributable to plan years
ending on or prior to the Closing Date and all employer and salary reduction
employee contributions for the period prior to the Closing Date have been made
on or prior to the Closing Date.

(e)    No
Business Employee Plan promises or provides any health, life or other welfare
benefits to retired or former employees of each Seller, other than as required
by Code Section 4980B.

(f)    Each
Business Employee Plan, and any related trust, insurance contract or fund (as
applicable), has been administered in accordance with its terms and in
compliance with the requirements prescribed by any and all statutes, rules and
regulations (including ERISA and the Code), and each Seller has performed, or
caused to be performed by its responsible affiliate, all material obligations
required to be performed under the Business Employee Plans. With respect to
each Business ERISA Plan, each Seller has prepared (or has caused to be
prepared) in good faith and 

 21
 

timely filed all requisite
governmental reports (which were true and correct as of the date filed) and has
properly and timely filed and distributed or posted all notices and reports to
Employees required to be filed, distributed or posted with respect to each such
Business ERISA Plan. No suit, administrative proceeding, action or other
litigation has been brought, or to Seller’s Knowledge is threatened, against or
with respect to any Business Employee Plan, including any audit or inquiry by
the IRS or United States Department of Labor.

(g)    With respect to each Business Employee Plan, each Seller has
complied with (i) the applicable health care continuation and notice
provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) and the proposed regulations
thereunder, (ii) the application requirements of the Family and Medical
Leave Act of 1993, as amended, and the regulations thereunder, and (iii) the
applicable requirements of the Health Insurance Portability and Accountability
Act of 1996 and the regulations thereunder.

3.21   Labor Matters.

(a)    Schedule 3.21(a)(1) contains
a materially true and complete list of the names, positions and salaries or
rates of pay, including bonus plans, of all persons presently employed (whether
full- or part-time) by Seller in connection with the Business (the “Employees”) and all persons
performing contract services for Seller in connection with the Business. Schedule 3.21(a)(2) lists all currently effective
written or legally binding employment agreements and other material agreements
with individual Employees that are not terminable at will, and all material
consulting, independent contractor and other agreements with independent
contractors or consultants to Sellers as of the date hereof, and Sellers will
provide to Purchaser an updated list of such information prior to the Closing. Sellers
have previously provided (or will provide within 20 days after the date of this
Agreement) to Purchaser true and correct copies of all such written agreements.
All independent contractors of Sellers have been properly classified as
independent contractors for the purposes of Tax laws, laws applicable to
employee benefits and other applicable law. All salaries and wages paid with
respect to Employees are in compliance in all material respects with applicable
Tax laws, laws applicable to employee benefits and other applicable law. Schedule 3.21(a)(3) contains a list of all Employees
who are currently on a leave of absence (whether paid or unpaid), the reasons
therefor, the expected return date, and whether reemployment of such Employee
is guaranteed by contract or statute, and a list of all Employees who have
requested a leave of absence to commence at any time after the date hereof, the
reason therefor, the expected length of such leave, and whether reemployment of
such Employee is guaranteed by contract or statute. As of the date of this
Agreement, to the knowledge of Frank Keener, Michael M. Fleishman, Thomas A.
Dieruf, Thomas H. Lowe or any Vice President of the Sellers, no regional
director or divisional manager, or officer or any other key employee of any
Seller, other than the Excluded Employees, has informed or advised Seller that
such person does not intend to continue his or her employment or relationship
with Seller or with Purchaser after the date hereof or as a result of the
transactions contemplated hereby, unless otherwise stated herein or set forth
in Schedule 3.21(a)(4).

(b)   The
transactions contemplated by this Agreement will not result in any additional
payments to, or increase the vested interest of, any Employee under any
Business Employee Plan. All salaries and bonuses, deferred compensation and any
other payments pursuant to any Business Employee Plan that are due and payable
as of the Closing Date have been paid by Sellers (other than accrued vacation
pay that has accrued during 2004 and bonuses for 2004 which are reflected on
the Final Working Capital Statement but are based on the results of Sellers
through the date of the Closing and only include amounts based on such results
through the Closing Date), and all year-end and/or merit bonuses to Employees
with respect to performance for the fiscal year ended December 31, 2003
shall have been paid by Sellers prior to the Closing Date.

 22
 

(c)    (i) Neither
Seller nor any Employee is engaged in any unfair labor practice, and neither is
in material violation of any applicable laws respecting employment and
employment practices, terms and conditions of employment, and wages and hours; (ii) there
is no unfair labor practice complaint against any Seller actually pending or,
to Seller’s Knowledge, threatened before the National Labor Relations Board; (iii) there
is no strike, labor dispute, slowdown, or stoppage actually pending or, to
Seller’s Knowledge, threatened against Seller; (iv) no union organizing
activities are taking place with respect to Seller or any Employee; (v) no
grievance nor any arbitration proceeding arising out of or under any collective
bargaining agreement is pending against Seller or any Employee and no claims
therefor exist; (vi) no collective bargaining agreement that is binding on
any Seller or any Employee restricts it, him or her from relocating or closing
any of its operations; and (vii) Seller has not experienced any material
work stoppage or other material labor difficulty.

(d)   Except as
set forth on Schedule 3.21(d), and excluding
workman’s compensation, no claim currently exists or is pending or, to Seller’s
Knowledge, threatened against Seller or any Employees based on actual or
alleged race, age, sex, disability or other harassment or discrimination, or
similar tortious conduct, or based on actual or alleged breach of contract with
respect to any person’s employment with Seller, nor, to Sellers’ Knowledge, is
there any basis for any such claim.

(e)    Except as set forth on Schedule 3.21(e),
there are no pending or, to Seller’s Knowledge, threatened claims against
Seller under any workers compensation plan or policy or for long term
disability, and Seller has no obligations under COBRA with respect to any of
its former employees or qualifying beneficiaries thereunder, and Seller has not
incurred any material liability under and has complied at all times with the
Worker Adjustment Retraining Notification Act (“WARN”), and no fact or event exists that could give rise
to liability thereunder.

3.22   Insolvency Proceedings.   No
insolvency proceedings of any kind or nature, including, without limitation,
bankruptcy, receivership, reorganization, or other arrangements with creditors,
whether voluntary or involuntary, against Sellers are pending or, to Sellers’
Knowledge, threatened, except with respect to certain of Sellers’ account
debtors.

3.23   Practices.   Neither Seller nor any representative of Seller has,
other than in full compliance with all applicable laws and regulations, offered
or given, and to Seller’s Knowledge, no individual or entity has offered or
given on Seller’s behalf, anything of value to: (i) any official of a
governmental authority, any political party or official thereof or any
candidate for political office; (ii) any member of any governmental
authority; or (iii) any other individual or entity, in any such case while
knowing or having reason to know that all or a portion of such money or thing
of value may be offered, given or promised, directly or indirectly, to any
member of any governmental authority or any candidate for political office for
the purpose of the following: (x) influencing any action or decision of such
individual or entity, in its, his or her official capacity, including a
decision to fail to perform an official function; (y) inducing such individual
or entity to use its, his or her influence with any governmental authority to
affect or influence any act or decision of such governmental authority to
assist Seller or any of its subsidiaries in obtaining or retaining business
for, with, or directing business to, any individual or entity; or
(z) where such payment would constitute an illegal bribe, kickback or
payment to assist Seller or any of its subsidiaries in obtaining or retaining
business for, with, or directing business to, any individual or entity.

3.24   Related Party Transactions.   There are no transactions or agreements between any
Seller and any member of Sellers or any other current or past officer,
director, employee or shareholder of Sellers (or any affiliate of any such
person), other than for current employment services in accordance with the
customary pay and benefit practices of Seller and other than those which will
not be assumed by Purchaser and which will not result in a Lien on the Acquired
Assets.

3.25   Accuracy of Information.   All information furnished by the Sellers, the Sellers’
accountants or Sellers’ attorneys to the Purchaser relating to the Sellers (but
not including general Industry information or 

 23
 

Industry reports of
any nature) for purposes of or in connection with this Agreement is true,
accurate and complete in all material respects and the representations and
warranties made by Sellers in this Agreement do not contain any untrue
statement of a material fact or omit to state any material fact necessary in
order to make any statement contained herein, in light of the circumstances in
which they are being made, not misleading that are applicable specifically to
the Sellers, as opposed to those that are applicable to companies in the
Industry generally, other than as a result of “Adverse Occurrences” (as defined
below). There is no fact known to Sellers which such Sellers have not disclosed
to the Purchaser in writing which has had or would reasonably be likely, in the
aggregate, to have a Material Adverse Effect on the Sellers, other than Adverse
Occurrences that are applicable to some members of the Industry or legislation
passed with respect to the Industry. Provided, however, that the Purchaser
acknowledges that the Business is a highly risky business and is subject to
numerous risk factors including, but not limited to, changes after the date of
this Agreement in economic conditions, increases in competition, increases in
insurance costs, other risks typically applicable to other companies in the
Industry, changes in laws or interpretations of such laws (including, but not
limited to, statutes, ordinances, regulations, administrative proceedings,
lawsuits, interpretations by any regulatory agency or any similar actions
causing such changes in laws, new laws or changes in interpretations), judicial
or administrative judgments (including, but not limited to, the Georgia
Lawsuits, the Proposed Georgia Law or threatened lawsuits against other persons
in the Industry), arbitration decisions, rulings, orders, any changes affecting
the Industry in general, and the like regardless whether pending as of the date
of this Agreement or arising after the date of this Agreement, and negative
publicity regarding the Business or the Industry. The Sellers disclaim any
responsibility, obligations or liability regarding any projections or
predictions regarding the future performance of the Business, and Purchaser
acknowledges it is not relying on any of the same other than as expressly set
forth in Section 3.11(a)(ii). All of the foregoing risk factors and statements
referred to in this Section 3.25 are collectively referred to as “Adverse Occurrences”
or “Adverse Occurrence”). The Purchaser
shall not have any claims against Sellers or the Member Guarantors as a result
of the effect Adverse Occurrences may have on the Business before or after the
Closing Date other than as expressly set forth in Section 3.11(a)(ii). The
Purchaser acknowledges that it shall be responsible for its own evaluation of
the Adverse Occurrences and the Industry. If, as a result of an Adverse
Occurrence, any of the Sellers’ or the Member Guarantors’ representations and
warranties are or become untrue or if any of Sellers’ covenants set forth in Section 5
hereof are violated or not complied with as a result of an Adverse Occurrence,
the same shall not be deemed a breach of this Agreement for purposes of Section 6.1
or Section 10.1, but Section 6.6 shall apply thereto.

3.26   No Additional Representations and Warranties.   EXCEPT AS SPECIFICALLY PROVIDED IN SECTIONS 2.1
THROUGH 3.26 HEREOF OR ANYWHERE ELSE IN THIS AGREEMENT, NO SELLER OR MEMBER
GUARANTOR IS MAKING ANY REPRESENTATION, WARRANTY OR COVENANT OF ANY KIND,
EXPRESS, IMPLIED OR STATUTORY, INCLUDING BUT NOT LIMITED TO THE IMPLIED
WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, AND THE
PARTIES HERETO AGREE AND ACKNOWLEDGE THAT ALL SUCH IMPLIED WARRANTIES OF
MERCHANTABILITY AND FITNESS ARE HEREBY EXCLUDED AND DISCLAIMED. THE ACQUIRED
ASSETS AND BUSINESS ARE BEING SOLD “AS IS,
WHERE IS, WITH ALL FAULTS”, EXCEPT AS SPECIFICALLY PROVIDED TO THE
CONTRARY IN THIS AGREEMENT. THE SELLERS AND MEMBER GUARANTORS DO NOT WARRANT
THE FUTURE OPERATIONS, PROJECTIONS OF ANY NATURE, FINANCIAL REQUIREMENTS OR
PERFORMANCE OF THE BUSINESS. NOTWITHSTANDING ANYTHING TO THE CONTRARY HEREIN,
THE SELLERS AND MEMBER GUARANTORS ARE NOT, AND SHALL NOT BE, LIABLE FOR ANY
LOSSES, ACTIONS, ADVERSE OCCURRENCES, AND THE LIKE, OF ANY NATURE WHATSOEVER
WHICH ARISE OUT OF ANY ACTS, OMISSIONS OR EVENTS OCCURRING AFTER THE CLOSING
DATE OR WHICH ARISE OUT OF THE LOSS OF ANY LICENSE(S) OR THE ABILITY TO OPERATE
THE BUSINESS WHICH IS INCURRED OR 

 24
 

ARISES ON OR AFTER
THE CLOSING DATE (OTHER THAN AS A RESULT OF AN ACT, OMISSION OR EVENT BY THE
SELLERS BEFORE THE CLOSING), OR ANY ACTIVITY, FORM OR ASPECT THEREOF,
EXCEPT AS EXPRESSLY SET FORTH IN SECTION 3.11(a)(ii).

ARTICLE
4

REPRESENTATIONS AND WARRANTIES OF PURCHASER

Purchaser hereby
represents and warrants to Sellers that as of the date of this Agreement and as
of the Closing Date:

4.1   Organization and Good Standing.   Purchaser is a limited liability company duly
organized, validly existing and in good standing under the laws of the State of
Georgia. Purchaser has the necessary power and authority to carry on its
business as it is now being conducted and to own and lease the properties and
assets it now owns and leases.

4.2   Power and Authority.   Purchaser has the requisite power and authority to
enter into this Agreement and each other certificate, agreement, document or
instrument to be executed and delivered by it in connection with the
transactions contemplated by this Agreement, to perform its obligations
hereunder and thereunder and to consummate the transactions contemplated hereby
and thereby. The execution, delivery and performance by Purchaser of this
Agreement and each other certificate, agreement, document or instrument to be
executed and delivered by it in connection with the transactions contemplated
by this Agreement, and the consummation of the transactions contemplated hereby
and thereby, have been duly authorized by all necessary corporate or other
action, and no other corporate or other proceedings on the part of Purchaser
are necessary to authorize the execution, delivery and performance of this
Agreement and each other certificate, agreement, document or instrument to be
executed and delivered by it in connection with the transactions contemplated
by this Agreement.

4.3   Due Execution; Binding Effect.   This Agreement, and each other certificate,
agreement, document or instrument to be executed and delivered by Purchaser in
connection with the transactions contemplated by this Agreement, has been or
will be, as applicable, duly and validly executed and delivered by Purchaser
and, assuming the due authorization, execution and delivery hereof and thereof
by each other party hereto and thereto, each constitutes or will constitute, as
applicable, a legal, valid and binding obligation of Purchaser, enforceable
against Purchaser in accordance with its terms.

4.4   No Violation; Consents.   Except for consents of, notices to, or filings with,
the Federal Trade Commission and the Department of Justice pursuant to the HSR
Act, and any licenses, approvals, permits and registrations from governmental
agencies or authorities required in connection with the Business, the
execution, delivery and performance by Purchaser of this Agreement, and each
other certificate, agreement, document or instrument to be executed and
delivered by it in connection with the transactions contemplated by this
Agreement, the consummation of the transactions contemplated hereby and
thereby, and the fulfillment of and compliance with the terms and conditions
hereof and thereof do not and will not, with or without the passing of time or
the giving of notice, or both:

(a)    violate or
conflict with any provision of the Certificate of Formation, the Operating
Agreement, or other organizational document of Purchaser;

(b)   breach or
otherwise constitute or give rise to a default under, result in the loss of any
benefit under or permit the acceleration of any obligation under any contract,
commitment or other obligation to or by which Purchaser is a party or is bound;

(c)    violate
any statute, ordinance, law, rule, regulation, judgment, order or decree of any
court or other governmental or regulatory authority to which Purchaser is
subject; or

 25
 

(d)   require any
consent, approval or authorization of, notice to, or filing, recording,
registration or qualification with any third party, court or governmental or
regulatory authority.

4.5   Litigation.   There is no litigation, action, suit, arbitration,
mediation, hearing or governmental investigation pending or, to the knowledge
of the Purchaser, threatened against Purchaser or any of its affiliates, which
affects the legality, validity or enforceability of this Agreement or the
transactions contemplated hereby or which seeks to obtain damages or obtain
relief as a result of the transactions contemplated by this Agreement, or which
would imperil Purchaser’s ability to obtain the “Financing” (as defined in Section 4.6).

4.6   Financing.   As of the date hereof, Purchaser believes in good
faith that it will be able to obtain the required financing substantially in
accordance with the various proposals set forth in Schedule 4.6
to close the purchase contemplated by this Agreement by the Termination Date. Purchaser
will use its commercially reasonable efforts to obtain such financing promptly
(the “Financing”).

ARTICLE
5

COVENANTS OF THE SELLERS AND PURCHASER

5.1   Conduct of the Business Pending Closing.   From the date hereof until the Closing, each Seller
shall:

(a)    conduct
its Business in the usual, regular and ordinary course consistent with such
Seller’s past practices; use its commercially reasonable efforts to preserve
intact the present organization of such Seller; and use its commercially
reasonable efforts (with no obligation to increase such persons’ compensation
or benefits) to keep available the services of the present officers and
Employees of such Seller and to preserve such Seller’s goodwill, consistent
with past practices;

(b)   maintain
the Acquired Assets in their present operating condition (ordinary wear and
tear excepted);

(c)    observe
and remain in compliance in all material respects with all statutes, laws,
rules, regulations, orders, decrees and ordinances applicable to Seller or the
operation of the Business (unless stayed pending appeal of such law or
decision), subject to changes in laws or interpretations of such laws
(including but not limited to statutes, ordinances, regulations, administrative
proceedings, orders or any similar actions), judicial, administrative or
arbitration judgments, rulings, orders and the like that occur after the date
of this Agreement;

(d)   maintain
and keep in full force and effect all of the insurance currently maintained by
Seller, unless replaced by substantially similar policies that do not reduce
the amount of coverage compared to those policies currently in effect;

(e)    not sell,
mortgage, pledge, lease, or otherwise transfer, or dispose of or distribute any
of its assets used in connection with the Business or enter into any agreement
with respect to the foregoing, other than in the ordinary course of Business
consistent with such Seller’s past practices;

(f)    pay all
liabilities and obligations as and when due, including all Taxes, other than
such liabilities or obligations Seller is contesting in good faith by
appropriate proceedings and has set aside on its books adequate reserves with
respect thereto;

(g)    not alter,
modify or accelerate its existing collection levels of accounts receivables,
or, other than in its ordinary course of its Business and consistent with past
practice, write-off as uncollectible any accounts or receivables, other than as
a result of changes in laws or interpretations of such laws after the date of
this Agreement (including but not limited to statutes, ordinances, regulations,
administrative proceedings, orders or any similar actions), judicial,
administrative or arbitration judgments, rulings, orders and the like that
occur after the date of this Agreement;

 26
 

(h)   except with
respect to Excluded Employees, not declare or increase the benefits or
compensation payable or to become payable to any of Seller’s Employees or any
bonus, profit sharing or other extraordinary compensation to any Employee of
Seller, or enter into any agreement with respect to the foregoing for any such
Employee, except in the ordinary course of business and consistent with past
practices;

(i)    not make
or enter into any agreement to make any capital expenditure on behalf of
Sellers in excess of $50,000 individually or $200,000 in the aggregate, other
than pursuant to existing contracts and other than with respect to that certain
dispute with the Business Software Alliance;

(j)     not amend
or terminate any contract or agreement required to be listed on Schedule 3.12(a) and, except in the ordinary
course of Business on a basis consistent with such Seller’s past practices, not
enter into any material contract or agreement with any other individual, entity
or governmental authority, including, without limitation, any employment
agreement not terminable at will by Sellers;

(k)   maintain
its books, records and accounts, and maintain a system of accounting, as may be
required or as may be necessary to permit the preparation of audited financial
statements in accordance with GAAP and in compliance with the regulations of
any governmental or regulatory authority having jurisdiction over it or any of
its properties, other than as a result of changes in laws or interpretations of
such laws after the date of this Agreement (including but not limited to
statutes, ordinances, regulations, administrative proceedings, orders or any
similar actions), judicial, arbitration, or administrative judgments, rulings,
orders and the like that occur after the date of this Agreement;

(l)    continue
reasonably to protect all confidential information and trade secrets of, each
Seller, in accordance with such Seller’s past practices;

(m)  not incur
any indebtedness or any liabilities other than in the ordinary course of
Business consistent with such Seller’s past practices;

(n)   not make or
change any election, change an annual accounting period, adopt or change any
accounting method, file any amended Tax Return, enter into any closing
agreement, settle any Tax claim or assessment relating to the Seller, surrender
any right to claim a refund of Taxes, consent to any extension or waiver of the
limitation period applicable to any Tax claim or assessment relating to Seller,
or take any other similar action relating to the filing of any Tax Return or
the payment of any Tax, except as consistent with past practice, that would
result in a Lien on the Acquired Assets;

(o)   be allowed
to make cash distributions to its members and owners;

(p)   notwithstanding
anything to the contrary herein, the Sellers may materially modify the way it
does business in Georgia, including, but not limited to, modifying or canceling
any Assumed Contracts relating to its business in Georgia.

5.2   Access to Sellers.

(a)    From the
date hereof until the Closing, Sellers and their officers, directors, managers,
employees, agents and representatives shall permit Purchaser and Purchaser’s
representatives, agents, counsel and accountants to have reasonable access,
with prior advance notice, at all reasonable times to the premises, Business,
properties, assets, financial statements, contracts, books, records and working
papers of, and other relevant information pertaining to, each Seller and to
furnish to Purchaser and Purchaser’s representatives, agents, counsel and
accountants such financial and operating data and other information with
respect to each Seller as Purchaser may reasonably request.

 27
 

(b)   If
Purchaser believes that Sellers’ practices or methods of doing business are not
legal or prudent, it may terminate this Agreement prior to the Closing by
giving written notice to the Seller Representative, in which event neither
Purchaser on the one hand nor Sellers and Member Guarantors on the other, shall
have any liability to the other in connection with this Agreement or the
transactions contemplated hereby.

5.3   Reasonable Efforts; Regulatory Applications.

(a)    Each of
the Parties will use its reasonable efforts to take, or cause to be taken, all
actions and to do, or cause to be done, all things necessary, proper, desirable
or advisable under applicable law so as to permit consummation of the
transactions contemplated by this Agreement as promptly as reasonably
practicable and will use reasonable efforts to cooperate with the other Parties
hereto to that end.

(b)   Each Party
shall cooperate and use its reasonable efforts to prepare all documentation, to
effect all filings (including, without limitation, filings under the HSR Act to
the extent required) and to obtain all permits, consents, approvals and
authorizations of all third parties and governmental or regulatory authorities
necessary to consummate the transactions contemplated by this Agreement. Each
Party shall respond as promptly as practicable to any inquiries or requests
received from the Federal Trade Commission or the Department of Justice for
additional information or documentation. Each Party shall (i) give the
other Parties hereto prompt notice of the commencement of any claim, action,
litigation or other proceeding by any governmental or regulatory authority in
connection with the transactions contemplated hereby; (ii) keep the other
Parties informed as to the status of any such claim, action, litigation or
other proceeding; and (iii) promptly inform the other Party of any
communication to or from the Federal Trade Commission or the Department of
Justice regarding the transactions contemplated hereby. The Purchaser shall use
its reasonable efforts to obtain in a timely manner all licenses, approvals,
permits and registrations from governmental authorities required in connection
with the Business.

(c)    Notwithstanding
anything herein to the contrary, Purchaser shall have no obligation under this
Agreement to do any of the following: (i) dispose or cause any of its
affiliates to dispose of any assets; (ii) to discontinue or cause any of
its affiliates to discontinue offering any product or services; (iii) to
license or otherwise make available, or cause any of its affiliates to license
or otherwise make available, to any person or entity, any technology, software
or other proprietary asset; (iv) to hold separate or cause any of its
affiliates to hold separate any assets or operations (either before or after
the Closing Date); or (v) to make or cause any of its affiliates to make
any commitment (to any governmental or regulatory authority or otherwise)
regarding its future operations.

(d)   Purchaser
shall use its reasonable efforts to obtain the Financing prior to the
Termination Date and if Purchaser determines that it will not be able to obtain
the Financing prior to the Termination Date, the Purchaser shall promptly give
written notice to the Seller Representative.

(e)    Purchaser
and Sellers shall each use their reasonable efforts to obtain consents to
assignments of the Assumed Contracts other than Utility Contracts; provided, however, that
the Utility Contracts shall be deemed part of the Assumed Contracts, and the
Purchaser shall (i) be responsible for dealing with the utility companies
after the Closing, (ii) hold harmless the Sellers and Member Guarantors
for all such utility bills, and (iii) pay and be liable for all such
Utility Contracts.

5.4   Notice of Changes.   Each
Seller and Member Guarantor (but only as to his own individual representations
and warranties) shall promptly, but only up to the second business day
preceding the Closing Date, deliver to the Purchaser updates (collectively the “Disclosure Schedule
Updates”) of any matters occurring after the date hereof which,
if existing or occurring on the date hereof, would have been required to be set
forth on a schedule to this Agreement or which would render inaccurate any of
the 

 28
 

representations or
warranties made by any Seller or Member Guarantor in this Agreement, and such
notice shall be deemed to be a modification of any representation or warranty; provided, however, that
no Disclosure Schedule Update shall be deemed to supplement or amend a
disclosure schedule of Sellers or Member Guarantors for the purpose of
determining the accuracy of any of the representations and warranties made by
the Sellers or Member Guarantors as of the date of this Agreement (except with
respect to an Adverse Occurrence); provided, further, that Purchaser shall have the right to terminate
this Agreement and have all rights and remedies set forth in Section 8.2.

5.5   No Solicitation of Transactions.   During the period commencing on the date hereof and
ending on the earlier to occur of the Closing Date or the Termination Date, no
Seller nor its respective members or affiliates shall, directly or indirectly,
through any officer, director, manager or agent of any of them or otherwise,
initiate, solicit or encourage (including by way of furnishing non-public
information or assistance), or enter into negotiations of any type, directly or
indirectly, or enter into a confidentiality agreement, letter of intent or
purchase agreement, merger agreement or other similar agreement with any person
or entity other than Purchaser or Purchaser’s assignee (as referenced in Section 11.6)
with respect to a sale of all or any substantial portion of the assets of any
Seller, or a merger, consolidation, business combination, sale of all or any
portion of the units or other equity interests of any Seller, or the
liquidation or similar extraordinary transaction with respect to any Seller. Sellers
shall notify Purchaser as promptly as practicable of all relevant terms of any
inquiry or proposal by a third party to do any of the foregoing that any Seller
or any of its respective members or affiliates or any of its respective
officers, directors, partners, managers, employees, investment bankers,
financial advisors, attorneys, accountants or other representatives may receive
relating to any of the foregoing. In the event such inquiry or proposal is in
writing, Sellers shall deliver to Purchaser a copy of such inquiry or proposal
together with such written notice.

5.6   Final Financial Statements.   As soon as reasonably practicable following the date
hereof, but in no event no later than the Closing Date (except that the Closing
Date shall be postponed at Purchaser’s election if the audit is not final),
First American Holding shall deliver to Purchaser (i) the audited
financial statements of First American Holding for the year ended December 31,
2003, and (ii) the unaudited financial statements for the monthly period
ended as of the end of the month which is more than thirty days prior to the
Closing Date (collectively, the “Final Financial Statements”).

5.7   Liens on Acquired Assets.   All Liens on the Acquired Assets, other than (i) Liens
for Taxes not yet due or in default and payable without penalty and interest;
and (ii) Liens fully reflected or reserved against in the Final Working
Capital Statement, shall be discharged on or before the Closing Date.

5.8   Notice of Adverse Occurrences.   If any of Thomas H. Lowe, Thomas A.
Dieruf, Michael M. Fleishman or Frank O. Keener learns of an Adverse
Occurrence that relates to the Sellers in particular (including, but not
limited to, a material charge, court, arbitration or administrative proceeding
or judgment that is made, filed or rendered, as applicable, against any of the
Sellers) and such person understands the significance of such items as it
relates to this Agreement, the Sellers shall give written notice of the same to
Purchaser. Provided, however, Sellers shall have no obligation to inform
Purchaser of an Adverse Occurrence that affects the Industry generally or other
companies in the Industry (as opposed to the Sellers in particular) unless
Sellers shall have received written notice from a regulatory or governmental
authority of such Industry-wide Adverse Occurrence even though it affects the
Industry generally. Except as set forth herein, the Purchaser shall be
responsible for monitoring such industry-wide Adverse Occurrences for itself.

 29

5.9   Notice of Continued Employment.   If any of Frank Keener, Michael M.
Fleishman, Thomas A. Dieruf, Thomas H. Lowe, or any Vice President of the
Sellers becomes aware of any regional director or divisional manager, or
officer or any other key employee of any Seller, other than the Excluded
Employees, that such person does not intend to continue his or her employment
or relationship with Seller or with Purchaser after the date of this Agreement
or as a result of the transactions contemplated hereby, the Sellers shall give
written notice of the same to Purchaser.

ARTICLE 6

CONDITIONS TO OBLIGATIONS OF PURCHASER

All of the
obligations of Purchaser under this Agreement are subject to the fulfillment
prior to or at the Closing of each of the following conditions, any of which
may be waived in writing by Purchaser in its sole discretion:

6.1   Representations and Warranties.   All representations and warranties of the Member
Guarantors and the Sellers contained in this Agreement (which, for the purposes
of this Section 6.1 shall be read as though each of them contained only
one Material Adverse Effect or materiality qualifier) shall be true and correct
in all material respects as of the date hereof, and such representations and
warranties shall be true and correct in all material respects as of the Closing
as if made at and as of such time (except for those that state they are true as
of the date of this Agreement or some other specified date).

6.2   Performance of Agreements.   Each Seller shall have fully performed and complied
in all material respects with all agreements and conditions required by this
Agreement to be performed or complied with by it prior to or at the Closing.

6.3   No Injunctions.   No preliminary or permanent injunction or other order
by any federal, state or local court or any governmental or regulatory
authority which prevents or restrains the consummation of the transactions
contemplated by this Agreement shall have been issued and remain in effect, and
no action to obtain any such injunction or order shall have been filed and
remain pending.

6.4   Governmental Consents and Approvals.   Any and all governmental authorities, bodies or
agencies having jurisdiction over the transactions contemplated by this
Agreement or any document ancillary hereto that is required to consent to these
transactions shall have granted such consents, authorizations and approvals as
are necessary for the consummation thereof (including, without limitation,
receipt by Purchaser of all licenses necessary to conduct the Business
following Closing), and all applicable waiting or similar periods required by
applicable law shall have expired, and all such consents, authorizations and
approvals shall be in form and substance reasonably satisfactory to Purchaser
and shall not subject Purchaser to any penalty or, in Purchaser’s reasonable
judgment, other adverse condition under or pursuant to any applicable law or
regulation.

6.5   Third Party Consents and Approvals.   All consents, authorizations and approvals to the
transactions contemplated by this Agreement that are required from any third
party pursuant to the terms of any Assumed Contract, the Leases, the software
licenses, or the CMAX software licenses or otherwise shall have been duly
obtained, and all such consents, authorizations and approvals shall be in form
and substance reasonably satisfactory to Purchaser; provided,
however, that solely with respect to the
Real Property Leases, the software licenses, or the CMAX software licenses, if
the Sellers obtain less than 100% of the consents or approvals with respect to
the Real Property Leases, the software licenses, or the CMAX software licenses,
the Purchaser shall not be obligated to (but may, at its option) close the
purchase contemplated hereby and in the event that the Purchaser elects to
close the purchase contemplated hereby then any losses or liability of any
nature relating to such consents or approvals for the Real Property Leases, the
software licenses, or the CMAX software licenses that have not been obtained
shall be the sole and exclusive obligations of the Purchaser, and Purchaser
shall have no claims against Sellers and/or 

 30
 

Member Guarantors as a
result of not obtaining such consents, authorizations or approvals relating to
such Real Property Leases, software licenses or CMAX software licenses.

6.6   No Material Adverse Effect.   Since the date hereof, there shall not have occurred
any event, circumstance or development that, in the aggregate, (a) has had
or is reasonably likely to have a material adverse effect upon the business,
assets, operation, condition (financial or otherwise), or results of operations
of Sellers, including as a result of Adverse Occurrences, other than any change
attributable to the announcement or pendency of this Agreement, or (b) would
materially impair the ability of Sellers or Member Guarantors to perform their
obligations under this Agreement (collectively, a “Material Adverse Effect”).

6.7   Financing.   Purchaser shall have obtained the Financing necessary
for Purchaser to pay the Adjusted Purchase Price in accordance with Article 1.

6.8   Due Diligence.   Purchaser shall have completed its legal, business
and accounting due diligence investigation of each Seller in scope and with
results satisfactory to Purchaser. Unless Purchaser notifies the Seller
Representative on or prior to the date that is sixty (60) days after the date
of this Agreement (the “Due
Diligence Date”) of its dissatisfaction with the due diligence
investigation of the Business and each Seller specifying such reasons, the
condition of this Section 6.8 will be deemed to have been satisfied; provided, however, that
additional due diligence for purposes of the Financing may continue beyond such
date that is sixty (60) days after the date of this Agreement as reasonably
necessary; provided, further,
that to the extent any Seller or Member Guarantor delivers a Disclosure
Schedule Update, such Due Diligence Date shall not apply with respect to the
items referenced (or items materially affected by such reference) in the
Disclosure Schedule Update and Purchaser will not be required to deliver
written notice of its satisfaction with the due diligence with respect to such
items, provided, that if the Closing occurs the Purchaser shall be deemed
conclusively to have satisfied or waived such due diligence and shall be deemed
to have accepted the Disclosure Schedule Update. If the Purchaser does give
such written notice on or prior to the Due Diligence Date of its
dissatisfaction, the Sellers shall have twenty (20) days after Seller
Representative’s receipt thereof within which to cure such issues to the
reasonable satisfaction of the Purchaser.

6.9   Deliveries of Sellers.   At the Closing, Sellers shall have delivered or
caused to be delivered to Purchaser each of the following, in form and
substance reasonably satisfactory to Purchaser:

(a)    The Escrow
Agreement duly executed by the Seller Representative as of the Closing Date;

(b)   A Bill of
Sale and an Assumption and Assignment Agreement between each Seller and
Purchaser, and such other reasonable assumption, assignments and other
instruments of transfer and conveyance necessary or appropriate to transfer and
assign the Acquired Assets to Purchaser, including, without limitation,
assignments of all Intellectual Property, in recordable form to the extent
necessary or desirable to assign such rights, obligations under the Leases, and
for Purchaser to assume all the Assumed Contracts, the Leases and software
licenses, if any, and delivery of all title documents and tag receipts with
respect to any vehicles or other titled equipment, duly endorsed for transfer
to Purchaser;

(c)    A Non-Competition Agreement, substantially in the form of Exhibit A attached hereto (each, a “Non-Competition Agreement”),
duly executed by the individuals listed on Schedule 6.9(c);

(d)   A release
by Sellers from any confidentiality or non-competition restrictions contained
in any agreement between Sellers and any Employee who commences employment with
Purchaser;

(e)    To the extent that
the Georgia Business is excluded from this Agreement pursuant to Section 1.6(b),
the “Service Agreement” (as defined in Section 9.7(b)) in
accordance with Section 9.7(b) duly executed by First American
Holding as of the Closing Date;

 31
 

(f)    A
certificate of each Seller, dated as of the Closing Date, certifying to the
fulfillment of the conditions set forth in Sections 6.1 and 6.2 hereof;

(g)    All
records, client lists, files and other documents of Sellers related to the
Business;

(h)   An opinion
of counsel to the Sellers, dated the Closing Date, substantially in the form
attached hereto as Exhibit B;
and

(i)    Any other
information, documents or certificates reasonably requested by Purchaser to
effect the transactions contemplated herein.

6.10   Escrow Agreement.   The Escrow Agent shall have delivered to Purchaser
the Escrow Agreement duly executed by the Escrow Agent as of the Closing Date.

6.11   Employment Agreement.   Mr. Thomas H. Lowe shall have delivered to
Purchaser an Employment Agreement with Purchaser, substantially in the form
attached hereto as Exhibit C
(the “Employment Agreement”),
duly executed by Mr. Lowe as of the Closing Date.

6.12   Transferred Employees.   Substantially all of the Employees of Sellers (other
than the Excluded Employees) who are offered employment by Purchaser shall have
accepted such offer of employment in accordance with the terms of this
Agreement, with no substantial change in compensation, benefits or other terms
and conditions of employment.

6.13   Bank Accounts and Bank Agreement.   Purchaser shall have opened the bank accounts
necessary for the operation of the Business and shall have entered into
appropriate bank agreements with respect to the states in which the Business is
operated pursuant to the Bank Model.

6.14   Related Agreements.   The contemporaneous closing of the Separate Purchase
Agreement between Purchaser, First American Services of Kentucky, LLC
and First American Services of West Virginia, LLC.

ARTICLE 7

CONDITIONS TO OBLIGATIONS OF THE SELLERS

All of the obligations
of Sellers under this Agreement are subject to the fulfillment prior to or at
the Closing of each of the following conditions, any of which may be waived in
writing by the Seller Representative in its sole discretion:

7.1   Representations and Warranties.   All representations and warranties of Purchaser
contained in this Agreement shall be true and correct as of the date hereof,
and such representations and warranties shall be true and correct in all
material respects as of the Closing as if made at and as of such time (except
for those that state they are true as of the date of this Agreement or some
other specified date).

7.2   Performance of Agreements.   Purchaser shall have fully performed and complied in
all material respects with all agreements and conditions required by this
Agreement to be performed or complied with by it prior to or at the Closing.
Section 6.9(c) shall have been satisfied as of the Closing Date or
waived as a condition to Closing by the Purchaser.

7.3   No Injunctions.   No preliminary or permanent injunction or other order
by any federal, state or local court or any other governmental or regulatory
authority which prevents or restrains the consummation of the transactions
contemplated by this Agreement shall have been issued and remain in effect, and
no action to obtain any such injunction or order shall have been filed and
remain pending.

7.4   Governmental Consents and Approvals.   Any and all governmental authorities, bodies or
agencies having jurisdiction over the transactions contemplated by this
Agreement or any document ancillary hereto that is required to consent to these
transactions shall have granted such consents, authorizations and 

 32
 

approvals as are necessary
for the consummation thereof, and all applicable waiting or similar periods
required by applicable law shall have expired, and all such consents,
authorizations and approvals shall be in form and substance reasonably
satisfactory to the Seller Representative and shall not subject Seller to any
penalty or, in the Seller’s reasonable judgment, other adverse condition under
or pursuant to any applicable law or regulation.

7.5   Deliveries of Purchaser.   At the Closing, Purchaser shall deliver to the Seller
Representative each of the following, in form and substance reasonably
satisfactory to Seller Representative:

(a)    The
Adjusted Purchase Price in accordance with Article 1 hereof;

(b)   The Escrow
Agreement duly executed by Purchaser as of the Closing Date;

(c)    An
Assumption Agreement duly executed by Purchaser with each Seller pursuant to
which Purchaser assumes all obligations under the Assumed Liabilities;

(d)   A
certificate of an officer of Purchaser, dated as of the Closing Date,
certifying to the fulfillment of the conditions set forth in Sections 7.1 and
7.2 hereof;

(e)    The
Employment Agreement duly executed by Purchaser as of the Closing Date;

(f)    The
Non-Competition Agreements duly executed by Purchaser as of the Closing Date;

(g)    To the extent that
the Georgia Business is excluded from this Agreement pursuant to Section 1.6(b),
the Service Agreement in accordance with Section 9.7(b) duly
executed by Purchaser as of the Closing Date;

(h)   An opinion
of counsel to Purchaser, dated as of the Closing Date, substantially in the
form attached hereto as Exhibit D;
and

(i)    Any other
information, documents or certificates reasonably requested by the Seller
Representative to effect the transactions completed herein.

7.6   Escrow Agreement.   The Escrow Agent shall have delivered to the Seller
Representative the Escrow Agreement duly executed by the Escrow Agent as of the
Closing Date.

7.7   Trademark License.   To the extent that the Georgia Business is excluded from this Agreement
pursuant to Section 1.6(b), Purchaser and First American Georgia
shall have entered into a Trademark License Agreement, substantially in the
form attached hereto as Exhibit E
as of the Closing Date.

7.8   Third Party Consents and Approval.   All consents,
authorizations and approvals to the transactions contemplated by this Agreement
that are required from any third party pursuant to the terms of any Assumed
Contracts, the Leases, the licenses, the CMAX software licenses or otherwise
shall have been duly obtained, and all such consents, authorizations and
approvals shall be in form and substance reasonably satisfactory to the
Sellers; provided, however,
obtaining consents to the assignment of the Real Property Leases, the software
licenses and the CMAX software licenses shall not be a condition to the Closing
for the Sellers or Member Guarantors if the Purchaser assumes the obligation to
obtain such consents or waives such obligations in accordance with Section 6.5.

7.9   Related Agreements.   The contemporaneous closing of the Separate Purchase
Agreement between Purchaser, First American Services of Kentucky, LLC
and First American Services of West Virginia, LLC.

 33
 

ARTICLE
8

TERMINATION

8.1   Termination.   This Agreement may be terminated at any time prior to
the Closing as follows:

(a)    by the
mutual written consent of the Parties;

(b)   by written
notice from Purchaser to the Seller Representative in the event any Seller or
Member Guarantor fails to cure any material breach by it of this Agreement
within fifteen (15) days after receiving written notice thereof;

(c)    by written
notice from the Seller Representative to Purchaser in the event Purchaser fails
to cure any material breach of this Agreement by Purchaser within fifteen (15)
days after receiving written notice thereof;

(d)   by written
notice from Purchaser to the Seller Representative in the event a Material
Adverse Effect occurs prior to the Closing as contemplated by Section 6.6;

(e)    by written notice from Purchaser to the Seller Representative, or
from the Seller Representative to Purchaser, in the event the Closing shall not
have occurred on or before July 1,
2004 (the “Termination Date)”, for any reason, other than the delay, breach of this
Agreement or nonperformance of the Party seeking such termination (or by any
Sellers in the event the Seller Representative is seeking such termination);

(f)    by written
notice from Purchaser in accordance with Section 6.8;

(g)    if a
governmental authority shall have issued an order, decree or ruling or taken
any other action, in each case permanently restraining, enjoining or otherwise
prohibiting the transactions contemplated by this Agreement and such order,
decree, ruling or other action shall have become final or non-appealable;

(h)   by the
Seller Representative on behalf of the Sellers and Member Guarantors upon
receipt of written notice from Purchaser that the Purchaser is likely to be
unable to obtain the Financing in accordance with Section 4.6; or

(i)    by
Purchaser in accordance with Section 5.2(b).

8.2   Effect of Termination.

(a)    Subject to
Section 8.3, in the event this Agreement is terminated pursuant to
Sections 8.1(a), 8.1(d), 8.1(e), 8.1(f), 8.1(g), 8.1(h) or 8.1(i), no
Party shall have any further liability or obligation hereunder to any other
Party, even if the other Party claims a breach of this Agreement.

(b)   In the
event this Agreement is terminated pursuant to Sections 8.1(b) or 8.1(c),
then the terminating Party shall be entitled to pursue any and all rights and
remedies available to it hereunder, at law or in equity against the other
Party, if any; provided, however,
such claims may not exceed $50,000
in the aggregate; provided, further,
however, that:

(i)          the Purchaser may not seek any indemnification or any other
damages against any Seller or Member Guarantor if this Agreement is terminated
prior to the date (A) the Purchaser has provided to the Seller
Representative written notice that Purchaser has received a term sheet that the
Purchaser has certified in writing to Sellers that Purchaser is willing to
accept with respect to the Financing, and (B) the requirement set forth in
Section 6.8 shall have been satisfied or waived by the Purchaser other
than with respect to any items referenced in any Disclosure Schedule Update and
any item materially affected by such Disclosure Schedule Update; and

 34
 

(ii)        Sellers and Member Guarantors may not
seek any indemnification or any other damages against Purchaser if this
Agreement is terminated prior to the date that Purchaser is satisfied with its
due diligence review pursuant to Section 6.8.

(c)    In the
event that the Purchaser terminates this Agreement pursuant to Sections 6.1
(but only as a result of an Adverse Occurrence), 6.2 (but only as a result of
an Adverse Occurrence), 6.3, 6.4, 6.5, 6.6, 6.10, 6.12 or 6.14 (unless
Purchaser has established that it has terminated such Separate Purchase
Agreement under provisions thereof entitling Purchaser to recover damages
against the Sellers thereunder pursuant to Section 8.2(b) thereof)
not being satisfied as of the Closing Date, the Purchaser shall not have any
claims whatsoever against Sellers or the Member Guarantors in connection with
this Agreement or the transactions contemplated hereby. In the event that the
Sellers or Member Guarantors terminate this Agreement for any item relating to
or arising out of Sections 6.9(c) (unless waived by the Purchaser), 7.1
(but only as a result of an Adverse Occurrence), 7.2 (but only as a result of
an Adverse Occurrence), 7.3, 7.4, 7.6, 7.8 or 7.9 (unless Sellers or the Member
Guarantors have established that they have terminated such Separate Purchase
Agreement under provisions thereof entitling Sellers or the Member Guarantors
to recover damages against the Purchaser thereunder pursuant to Section 8.2(b) thereof)
not being satisfied as of the Closing Date, the Sellers and Member Guarantors
shall not have any claim whatsoever against Purchaser in connection with this
Agreement or the transactions contemplated hereby.

8.3   Survival of Certain Provisions.   Notwithstanding any provision contained in this
Agreement to the contrary, the terms of the Confidentiality Agreement dated October 13,
2003 between the Parties, Section 8.2, this Section 8.3, Section 9.2
(Brokers; Expenses), Section 9.3 (Publicity) and Article 11
(Miscellaneous) shall survive any termination or expiration of this Agreement.

ARTICLE 9

OTHER AGREEMENTS OF THE PARTIES

9.1   Reasonable Efforts.   From and after the Closing Date, upon the terms and
subject to the conditions set forth in this Agreement, each Party shall use all
commercially reasonable efforts to take or cause to be taken all actions and to
do or cause to be done all things necessary, proper or advisable under
applicable laws and regulations to consummate and make effective the
transactions contemplated by this Agreement.

9.2   Brokers; Expenses.   Except for fees payable to Stephens Inc. by
Purchaser, each Party hereto hereby represents and warrants to the other Party
that it has not incurred any liability for brokerage fees, finder’s fees, agent’s
commissions or other similar forms of compensation in connection with or in any
way related to the transactions contemplated by this Agreement; provided, however, that
all filing fees with respect to the HSR Act shall be borne by Purchaser. Each
Party hereto shall pay its own fees and expenses (including the fees and
expenses of its attorneys, accountants, investment bankers, brokers, financial
advisors and other professionals) incurred in connection with this Agreement
and all transactions contemplated hereby.

9.3   Publicity.   No Party
shall issue any press release, written public statement or announcement
relating to this Agreement or the transactions contemplated hereby without the
written prior approval of the other Party in each instance, except to the
extent such disclosure is required by law (in which case such Party shall use
all reasonable efforts to give the other Party prior written notice thereof).

9.4   Special Tax Provisions.

(a)    Each
Seller shall file all Tax Returns required to be filed by it following the
Closing Date in a timely manner (unless granted an extension by the appropriate
taxing authority, and then in 

 35
 

accordance with the terms
of such extension), and shall timely pay all Taxes shown to be due thereon with
respect to the period ending on the Closing Date.

(b)   Each Seller
shall cooperate fully, as and to the extent reasonably requested by Purchaser,
in connection with any audit, litigation or other proceeding with respect to
Taxes, to the extent it affects the Acquired Assets. Such cooperation shall
include the retention and provision of records and information which are
reasonably relevant to any such audit, litigation or other proceeding and
making employees available on a mutually convenient basis to provide additional
information and explanation of any material provided hereunder. Each Seller
agrees (A) to retain all books and records with respect to Tax matters
pertinent to it relating to any taxable period beginning before the Closing
Date until the expiration of the statute of limitations (and, to the extent
notified by Purchaser, any extensions thereof) of the respective taxable
periods, and to abide by all record retention agreements entered into with any
taxing authority, and (B) to give Purchaser reasonable written notice
prior to transferring, destroying or discarding any such books and records, and
the Sellers shall allow the Purchaser to copy such books and records.

(c)    All
transfer, documentary, sales, use, stamp, registration and other such Taxes,
and all conveyance fees, recording charges and other fees and charges
(including any penalties and interest) incurred in connection with consummation
of the transactions contemplated by this Agreement shall be paid solely by the
Sellers when due, and each of the Sellers will, at its own expense, file all
necessary Tax Returns and other documentation with respect to all such Taxes,
fees and charges; provided, however,
that all license fees of Purchaser in order to be duly licensed by the
applicable states and other governmental authorities shall be paid solely by
Purchaser.

(d)   Purchaser and Sellers shall negotiate in good faith to agree upon
an “Allocation Statement” (as defined herein). The Parties shall agree on an
Allocation Statement by the Closing Date; provided, however, that if the Parties are unable to agree on the
Allocation Statement prior to the Closing Date, they shall jointly retain an
Audit Firm to resolve any disputed items, and the Allocation Statement shall
reflect such resolution. The costs, fees and expenses of the accounting firm
shall be borne equally by Purchaser, on the one hand, and Sellers, on the other
hand. Purchaser and Sellers shall also negotiate in good faith to agree upon
any revisions to the Allocation Statement to reflect any adjustments to the
consideration for Tax purposes. Purchaser and Sellers shall report the Tax
consequences of the transactions contemplated by this Agreement in a manner
consistent with the Allocation Statement as it may be revised from time to
time, and shall not take any position inconsistent therewith in any examination
of any Tax Return, in any refund claim, in any litigation or investigation or
before any Taxing authority, except as required by applicable law. “Allocation Statement”
means a written document which allocates the Adjusted Purchase Price and the
Assumed Liabilities among the Acquired Assets.

9.5   Employee Matters.

(a)    Each Seller shall use all reasonable business efforts consistent
with the provisions of this Agreement to retain the services of all Employees
(as defined in Section 3.21(a) hereof) through the Closing Date. On
or immediately prior to the Closing Date, Purchaser will offer employment, on
an at will basis, to substantially all Employees who are classified by Seller
as regional or divisional employees, and to such other Employees at its sole
discretion. Such offers of employment shall be for such compensation and other
terms and conditions of employment as determined by Purchaser in its sole
discretion. Each Seller will use good faith efforts to cause each Employee to
accept employment with Purchaser (but no cash payments or other remunerations
are required to be paid by such Seller in such efforts) and will not take any
actions to retain the services of any Employee offered employment by Purchaser.
Employees who accept such offer are, as of the time they first perform services
for Purchaser, referred to herein as the “Transferred Employees,” but such term specifically does
not 

 36
 

include
James A. Patterson II, J. Douglas Kannapell, Thomas Dieruf, Patricia Grimes or
Marcie Bean (collectively, the “Excluded
Employees)”.

(b)   Seller
shall be solely responsible for offering and providing any COBRA coverage (as
required pursuant to Section 4980B of the Code) with respect to any “qualified
beneficiary” who is covered by a Business Employee Plan (as defined in Section 3.20
hereof) that is a “group health plan” (as defined under COBRA) and who
experiences a qualifying event on or prior to the Closing Date. Purchaser shall
be solely responsible for offering and providing any COBRA coverage required
with respect to any Transferred Employees (or other “qualified beneficiaries”)
who become covered by a group health plan sponsored or contributed to by the
Purchaser and who experience a “qualifying event” after the Closing Date. “Qualified
beneficiary,” “group health plan” and “qualifying event” are as defined in Section 4980B
of the Code.

(c)    To the
extent not prohibited by applicable law, Seller shall provide Purchaser all
information relating to each Transferred Employee as Purchaser may reasonably
require in connection with its employment of such persons, including, without
limitation, initial employment dates, termination dates, reemployment dates,
hours of service, compensation and tax withholding history in a form that will
be usable by Purchaser and such information shall be true and correct in all
respects.

9.6   Seller Representative.

(a)    Each Seller and Member Guarantor hereby irrevocably constitutes
and appoints Thomas A. Dieruf, or his successor as determined by Sellers with
prompt written notice to the Purchaser, as the true and lawful agent and
attorney-in-fact (the “Seller
Representative”) of such Seller and Member Guarantor, with full
powers of substitution to act in the name, place and stead of such Seller and
Member Guarantor with respect to the performance on behalf of such Seller and
Member Guarantor under the terms and provisions hereof and to do or refrain
from doing all such further acts and things, and to execute all such documents,
as the Seller Representative shall deem necessary or appropriate in connection
with any transaction contemplated hereunder, including the power to:

(i)          act for such Seller and Member Guarantor with respect to
all indemnification matters referred to herein, including the right to
compromise or settle any such claim on behalf of such Seller and Member
Guarantor relating only to monetary payments which are held under the Escrow
Agreement;

(ii)        amend or waive any non-material
provision hereof (including any condition to the Closing) in any manner that
does not differentiate among any Seller;

(iii)       employ, obtain and rely upon the advice
of legal counsel, accountants and other professional advisors as the Seller
Representative, in the sole discretion thereof, deems necessary or advisable in
the performance of the duties of the Seller Representative;

(iv)        receive any portion of the Purchase
Price or any other payment due from the Purchaser to such Seller pursuant to
this Agreement;

(v)         act for each Seller with respect to all Purchase Price
matters and all Purchase Price adjustments matters referred to herein;

(vi)        act for each Seller with respect to the
Escrow Agreement;

(vii)      incur any expenses, liquidate and withhold
assets received on behalf of such Seller prior to their distribution to such
Seller to the extent of any amount that the Seller Representative deems
necessary for payment of or as a reserve against expenses, and pay such
expenses or deposit the same in an interest-bearing bank account established
for such purpose;

 37
 

(viii)     receive all notices, communications and
deliveries hereunder on behalf of such Seller and Member Guarantor; and

(ix)        do or refrain from doing any further act
or deed on behalf of such Seller and Member Guarantor that the Seller
Representative deems necessary or appropriate, in the sole discretion of the
Seller Representative, relating to the subject matter hereof as fully and
completely as such Seller and Member Guarantor could do if personally present
and acting and as though any reference to such Seller and Member Guarantor
herein was a reference to the Seller Representative.

(b)   The
appointment of the Seller Representative shall be deemed coupled with an
interest and shall be irrevocable, and any other individual or entity may
conclusively and absolutely rely, without inquiry, upon any action of the
Seller Representative as the act of each Seller and Member Guarantor, as
applicable, in all matters referred to herein. Each Seller and Member Guarantor
hereby ratifies and confirms that the Seller Representative shall do or cause
to be done by virtue of the Seller Representative’s appointment as Seller Representative
of such Seller and Member Guarantor. The Seller Representative shall act for
each Seller and Member Guarantor, as applicable, on all of the matters set
forth herein in the manner the Seller Representative believes to be in the
reasonable best interest of such Seller and Member Guarantor, but the Seller
Representative shall not be responsible to any Seller or Member Guarantor for
any loss or damage such Seller may suffer by reason of the performance by the
Seller Representative of the Seller Representative’s duties hereunder, other
than any loss or damage arising from the Seller Representative’s willful
misconduct or gross negligence in the performance of the Seller Representative’s
duties hereunder.

(c)    Each
Seller and Member Guarantor hereby expressly acknowledges and agrees, that the
Seller Representative is authorized to act on behalf of such Seller and Member
Guarantor notwithstanding any dispute or disagreement, and that any individual
or entity shall be entitled to rely on any and all actions taken by the Seller
Representative hereunder without liability to, or obligation to inquire of, any
Seller and Member Guarantor, as applicable. In the event the Seller
Representative resigns or ceases to function in such capacity for any reason
whatsoever, then the successor Seller Representative shall be Michael M.
Fleishman; provided, however,
that in the event for any reason Michael M. Fleishman is removed, unable or
unwilling to perform as the successor Seller Representative, then one of James
A. Patterson, Michael M. Fleishman and Frank O. Keener, in that order, shall
appoint a successor; provided, further, however, that such Seller Representative may be
removed by a majority vote of the Member Guarantors’ interest as set forth in Schedule 2. The Sellers (jointly and severally) and each
Member Guarantors (severally only based on and limited to such Member Guarantor’s
percentage listed in Schedule 2 of
the Purchase Price) shall indemnify and hold the Seller Representative harmless
from and against any and all liabilities, losses, costs, damages and expenses
(including attorneys’ fees) reasonably incurred or suffered as a result of the
performance of the Seller Representative’s duties hereunder, except to the
extent arising from the willful misconduct or gross negligence of the Seller
Representative.

(d)   Notwithstanding
anything to the contrary herein, the Seller Representative shall not be
authorized to modify, amend or waive any material term of this Agreement.

9.7   Non-Competition and Non-Solicitation.

(a)    Each
Seller (jointly and severally), each Member Guarantor in regards to actions or
inactions by each Seller (severally only based on and limited to such Member
Guarantor’s percentage listed in Schedule 2),
and each Member Guarantor as to its own actions or inactions only, covenants
and agrees that, in consideration of the consummation of the transactions by
Purchaser hereunder, neither it nor any of its affiliates which such person
controls, is controlled by or is under common 

 38
 

control with, directly or
indirectly, whether individually, in partnership, jointly or in conjunction
with, or on behalf of, any person or entity, shall for a period of three (3) years
from the Closing Date:

(i)          engage, whether wholly or partly, in
the Business in the following states (the “Restricted Territory”): Alabama, Ohio, Oklahoma, South
Carolina, Kentucky, Colorado, North Carolina, Arkansas, Georgia (unless Georgia
is excluded pursuant to Section 1.6(b)), West Virginia, Florida and Tennessee
(except with respect to those certain eight stores owned by Advance Cash, Inc.
and its affiliates located in cities in Tennessee where Sellers do not
currently conduct business, provided that no new stores may be opened and no
store may be re-located to a city different from its current location);

(ii)        serve as a director, officer, employee,
consultant, lender (except with respect to an existing loan to someone in the
Industry made by Frank O. Kenner in the amount of $100,000), advisor,
independent contractor or joint venturer with respect to an entity that wholly
or partly, directly or indirectly, engages in the Business in the Restricted
Territory;

(iii)       directly or indirectly own any equity
interest in (excluding ownership of less than two percent (2%) of the
outstanding common stock of any publicly held corporation), or control any
portion of a business that wholly or partly, directly or indirectly, engages in
the Business in the Restricted Territory other than the Purchaser and its
affiliates; and

(iv)        take any action that is designed or
intended to have the effect of discouraging any customer, supplier, lessor,
licensor or other business associate of any Seller from maintaining the same
business relationship with Purchaser after the Closing Date as it maintained
with such Seller prior to the Closing Date.

(b)   Notwithstanding anything herein to the contrary, the Parties
acknowledge and agree that First American Holding shall have the right to
continue to operate FAS Financial, LLC, a Tennessee limited liability company,
and First American Tax Services, LLC, a Kentucky limited liability company, in
the existing Sellers’ store locations following the Closing Date for a period
of sixty (60) days after the Closing Date. In connection therewith, Purchaser
agrees to cause its employees to promptly remit to First American Holding any
checks due to First American Holding, FAS Financial LLC, or First American Tax
Services, LLC and received by such employees and First American Holding shall
reimburse Purchaser for its direct costs in connection therewith. To the extent that
the Georgia Business is excluded from this Agreement pursuant to Section 1.6(b),
the Purchaser and First American Holding shall enter into a Services Agreement,
in substantially the form attached hereto as Exhibit F
(the “Services Agreement”), providing in
part for the management of the back office of the operations of First American
Holding and the price per month for such services in an amount set forth in the
Services Agreement.

(c)    Each Seller
(jointly and severally), and each Member Guarantor in regards to actions or
inactions by each Seller (severally only based on and limited to such Member
Guarantor’s percentage listed in Schedule 2),
and each Member Guarantor as to its own actions or inactions only, covenants
and agrees that, in consideration of the consummation of the transactions by
Purchaser hereunder, neither it nor any of its affiliates which such person
controls, is controlled by or is under common control with, directly or indirectly,
whether individually, in partnership, jointly or in conjunction with, or on
behalf of, any person or entity, shall for a period of two (2) years from
the Closing Date (a) solicit, persuade, encourage or induce any
Transferred Employee to cease employment with or retention by the Purchaser or
its subsidiaries; or (b) hire any Transferred Employee, provided, however, that
this Section 9.7 shall not apply to (i) general solicitations of
employment not specifically directed toward an employee; (ii) any solicitation
or hiring of Mr. Thomas H. Lowe following the expiration of the first six
months of his employment with Purchaser or earlier if Mr. Lowe and
Purchaser mutually agree to an earlier termination; or (iii) any
solicitation or hiring of any 

 39
 

Transferred Employee whose
employment with Purchaser or its subsidiaries has been terminated for at least
six (6) months.

(d)   Each Seller and Member Guarantor hereby acknowledges and agrees
that the covenants contained in this Section 9.7 (the “Protective Covenants”)
are reasonable as to time, scope and territory given Purchaser’s need to
protect trade secrets and confidential information, and each Seller and Member
Guarantor acknowledges and agrees that Purchaser and its affiliates and
assignees would be irreparably damaged if any Seller or Member Guarantor were
to provide services to or otherwise participate in the Business in the
Restricted Territory and that any such competition by any Seller or Member
Guarantor would result in a significant loss of goodwill by Purchaser and its
affiliates and assignees. In the event any Protective Covenant in this
Agreement shall be determined by any court of competent jurisdiction to be
unenforceable by reason of its extending for too great a period of time or over
too great a geographical area or by reason of its being too extensive in any
other respect, it shall be interpreted to extend only over the maximum period
of time for which it may be enforceable and/or over the maximum geographical
area as to which it may be enforceable and/or to the maximum extent in all
other respects as to which it may be enforceable, all as determined by such
court in such action.

(e)    Each
Seller and each Member Guarantor hereby acknowledges and agrees that any breach
of a Protective Covenant by it will cause irreparable damage to Purchaser, the
exact amount of which will be difficult to determine, and that the remedies at
law for any such breach will be inadequate. Accordingly, each Seller and each
Member Guarantor hereby agrees that, in addition to any other remedy that may
be available at law, in equity, or hereunder, the Purchaser shall be entitled
to specific performance and injunctive relief, without posting bond or other
security, to enforce or prevent any violation of any of the Protective Covenants
by it.

(f)    Notwithstanding
anything to the contrary in this Section 9.7, no Member Guarantor shall be
liable to Purchaser for the other Member Guarantors’ actions or inactions
(including each of their affiliates which such person controls, is controlled
by or is under common control with, directly or indirectly, whether
individually, in partnership, jointly or in conjunction with, or on behalf of,
any person or entity) relating to such other Member Guarantors’ breach of any
Protective Covenant or any other representation, warranty or covenant.

(g)    The
Parties acknowledge and agree that solely for purposes of this Section 9.7,
“Business” shall mean the deferred deposit business where the loan or advance
was in an amount of $500 or less and where the post-dated check is taken as
collateral for such loan or advance.

9.8   WARN Act.   Each
Seller has or will comply with its obligations pursuant to WARN and all other
notification and bargaining obligations arising under any collective bargaining
agreement, statute or otherwise, in each case to the extent affecting in whole
or in part of any site of employment, facility, operating unit, or employee of
a Seller. No Seller shall affect a “plant closing” or “mass layoff” (as those
terms are defined under WARN) at any time between the date of this Agreement
and the Closing Date, affecting in whole or in part any site of employment,
facility, operating unit or employee of a Seller without complying with all
provisions of WARN. Sellers shall be responsible for providing any notice of
layoff or plant closing, if required pursuant to WARN or any applicable state
or local plant closing notification statute, with respect to any Employees who
are not employed by Purchaser or its affiliates as of the Closing Date and
shall maintain such employees on Seller’s payroll for any period of notice required
by WARN and any applicable state or local plant closing notification statute.

9.9   Access to Information.   After the Closing Date, the Member Guarantors, the
Sellers and their representatives, affiliates, managers, members and employees
shall have reasonable access to all of the books and records of Sellers, to the
extent that such access may reasonably be required in connection with matters
relating to events on or prior to the Closing Date, including but not limited
to, the preparation of 

 40
 

Tax Returns, and the right
to copy all of the same and the use of all originals as required. Such access
shall be afforded by the Purchaser upon receipt of reasonable advance notice
and during normal business hours. If the Purchaser shall desire to dispose of
any of such books and records within seven years after the Closing Date, the
Purchaser shall, prior to such disposition, give the Seller Representative a
reasonable opportunity, at the Sellers’ expense, to segregate and remove such
books and records as Sellers may select.

9.10   Trademark License.   If the Purchaser or Sellers have
terminated the acquisition of the Georgia Business in accordance with Section 1.6(b) then
for a period of five (5) years beginning on the Closing Date, Purchaser
shall give Sellers and their affiliates an irrevocable, royalty-free right and
license, substantially the form of Exhibit E,
to use the Trademarks (the “Trademark Agreement”),
in Georgia.

9.11   Purchaser.   The Purchaser shall represent and
warrant at the Closing to the Sellers and Member Guarantors that it has been
adequately capitalized as provided in Schedule 9.11.

9.12   Renewal or Extension of Lease.   After the Closing Date, no option to
extend or renew a Real Property Lease shall occur unless the Sellers are fully
released from all obligations and duties under such Real Property Lease.

ARTICLE 10

INDEMNIFICATION

10.1   Indemnification by Sellers and Member
Guarantors.   Subject
to Sections 10.4 hereof, each of the Sellers, jointly and severally, and the
Member Guarantors severally only and based on and limited to such Member
Guarantor’s percentage listed in Schedule 2
(provided that Member Guarantors’ indemnification liability under this Article 10
as it relates to the items set forth in Section 9.7 shall be limited in
accordance with Section 9.7 and 10.7(b)), shall indemnify, promptly defend
and hold harmless Purchaser and its affiliates and subsidiaries, and their
respective partners, members, employees, officers, directors, agents and
representatives (collectively, the “Seller Indemnified Parties”), from and against any and
all claims, costs, expenses (including costs of investigation, attorneys’ fees,
accounting fees and court costs), judgments, actions, suits, proceedings,
penalties, fines, damages, losses and liabilities of any kind or nature
incurred by such party, other than as set forth in Section 10.11
(collectively, “Losses,”),
which term shall be deemed to have the same meaning regardless whether
applicable to Purchaser, Sellers or Member Guarantors) relating to, resulting
from or arising out of:

(a)    any breach
of any representation or warranty made by Sellers in Article 3 in this
Agreement or any breach of any representation or warranty made by a Member
Guarantor in Article 2 of this Agreement, but only as to such Member
Guarantor’s own breach;

(b)   any breach
of any covenant or agreement of a Member Guarantor contained in this Agreement,
but each Member Guarantor’s liability hereunder shall apply only as to such
Member Guarantor’s own breach, or any breach of any covenant or agreement of
Sellers contained in this Agreement;

(c)    the
Excluded Liabilities; and

(d)   any
obligation or liability of the Sellers to third parties or governmental
agencies which arose from an act or omission of Sellers that occurred prior to
the Closing Date.

10.2   Indemnification by Purchaser.   Subject to Section 10.10, Purchaser shall
indemnify, promptly defend and hold harmless the Sellers and Member Guarantors
and their respective affiliates and subsidiaries, and their respective
partners, members, employees, officers, directors, agents and representatives
(collectively, the “Purchaser
Indemnified Parties”), from and against any and all Losses
relating to, resulting from or arising out of:

(a)    any breach
of any representation or warranty made by Purchaser in this Agreement;

 41
 

(b)   any breach
of any covenant or agreement of Purchaser contained in this Agreement;

(c)    the
Assumed Liabilities, the Assumed Contracts and Leases; and

(d)   any
liability, loss, action, cause of action, claim, lawsuit, investigation and the
like relating to, resulting from or arising out of the Acquired Assets or the
Business that arise out of acts, omissions or other matters that occur on or
after the Closing Date, except as provided in the last sentence of Section 3.11(a)(ii).

10.3   Administration of Third Party Claims.

(a)    Promptly following receipt by any of the Seller Indemnified
Parties and/or the Purchaser Indemnified Parties (each, an “Indemnified Party”)
of written notice by a third party (including any governmental authority) of
any complaint or the commencement of any audit, investigation, action or
proceeding with respect to which such Indemnified Party may be entitled to
receive payment from the other Party for any Purchaser Losses or Seller Losses,
as the case may be, such Indemnified Party shall notify the Purchaser or the
Sellers and Member Guarantors, as the case may be (the “Indemnifying Party”),
promptly following the Indemnified Party’s receipt of such complaint or of
notice of the commencement of such audit, investigation, action or proceeding; provided, however, that
the failure to so notify the Indemnifying Party shall relieve the Indemnifying
Party from liability hereunder with respect to such claim only if, and only to
the extent that, such failure to so notify the Indemnifying Party results in
the forfeiture by the Indemnifying Party of (or otherwise actually prejudices
any) rights and defenses otherwise available to the Indemnifying Party with
respect to such claim. The Indemnifying Party shall have the right, within twenty
(20) days after such notice from the Indemnified Party, to assume the defense
of such audit, investigation, action or proceeding, including the employment of
counsel, and the Indemnifying Party shall pay the fees and disbursements of
counsel for the Indemnifying Party as incurred; provided,
however, that the Indemnified Party (at
its expense) shall have the right to jointly defend such defense or action of
any nature with the Indemnifying Party. In assuming the defense (subject to
such joint defense with the Indemnified Party as set forth herein) of such
audit, investigation, action or proceeding, the Indemnifying Party shall use
all reasonable efforts to mitigate against any unnecessary costs or expenses of
the Indemnified Party (and vice versa). In the event, however, that the
Indemnified Party declines or fails to join in the defense of the audit,
investigation, action or proceeding on the terms provided above in either case
within such twenty (20) day period, then the Indemnifying Party shall have the right
to conduct the defense of such audit, investigation, action or proceeding as it
solely determines, including the employment of counsel and the payment of the
fees and disbursements of such counsel. In any audit, investigation, action or
proceeding for which indemnification is being sought hereunder the Indemnified
Party or the Indemnifying Party, whichever is not assuming the defense of such
action, shall have the right to participate in such matter (joint defense) and
to retain its own counsel at such Party’s own expense. The Indemnifying Party
or the Indemnified Party (as the case may be) shall at all times use reasonable
efforts to keep the Indemnifying Party or Indemnified Party, as the case may
be, reasonably apprised of the status of the defense of any matter the defense
of which it is maintaining and to cooperate in good faith with each other with
respect to the defense of any such matter.

(b)   No Indemnified Party may settle or compromise any claim or consent
to the entry of any judgment with respect to which indemnification is being
sought hereunder without the prior written consent of the Indemnifying Party
unless such settlement, compromise or consent includes an unconditional release
of the Indemnifying Party and its officers, directors, employees, members,
agents, representatives and affiliates from all liability (including any
liability as a result of a claim by the Indemnified Party against the
Indemnifying Party) arising out of such claim and does not require any payment
or obligation from the Indemnifying Party. No Indemnifying Party may settle or

 42

compromise any claim or
consent to the entry of any judgment with respect to which indemnification is
being sought hereunder without the prior written consent of the Indemnified
Party unless such settlement, compromise or consent (i) includes an
unconditional release of the Indemnified Party and its officers, directors,
employees, members, agents, representatives and affiliates from all liability
(including any liability as a result of a claim by the Indemnifying Party
against the Indemnified Party) arising out of such claim, (ii) does not
contain any admission or statement suggesting any wrongdoing or liability on
behalf of the Indemnified Party, (iii) does not contain any equitable
order, judgment or term that in any manner would affect, restrain or interfere
with the Business in the Purchaser’s hands and (iv) does not require any
payment or obligation from the Indemnified Party.

(c)    In the event an Indemnified Party claims a right to payment
pursuant hereto, such Indemnified Party shall send written notice of such claim
to the appropriate Indemnifying Party. Such notice shall specify the basis for
such claim. The failure by any Indemnified Party so to notify the Indemnifying
Party shall not relieve the Indemnifying Party from any liability that it may
have to such Indemnified Party with respect to any claim made pursuant to this Section 10.3(c),
except that the failure to so notify the Indemnifying Party shall relieve the
Indemnifying Party from liability hereunder with respect to such claim if such
failure to so notify the Indemnifying Party results in the forfeiture by the
Indemnifying Party of (or otherwise actually prejudices any) rights and
defenses otherwise available to the Indemnifying Party with respect to such
claim. It is understood that notices for claims in respect of a breach of a
representation or warranty must be delivered prior to the expiration of the
survival period for such representation or warranty under Section 10.4(a),
otherwise such claim shall not be deemed valid. In the event the Indemnifying
Party does not notify the Indemnified Party within thirty (30) days following
its receipt of such notice that the Indemnifying Party disputes its liability
to the Indemnified Party under this Article or the amount thereof, the
claim specified by the Indemnified Party in such notice shall be conclusively
deemed a liability of the Indemnifying Party under this Article 10
(subject to Section 10.4), and the Indemnifying Party shall pay the amount
of such liability to the Indemnified Party on demand when such liability or
portion of the claim becomes finally determined. In the event the Indemnifying
Party has timely disputed its liability with respect to such claim as provided
above, then as promptly as possible, such Indemnified Party and the appropriate
Indemnifying Party shall establish the merits and amount of such claim (by
mutual agreement, litigation, arbitration or otherwise) and, within ten (10) business
days following the final determination (and after expiration of all appeals or
the expiration of all appeal periods being taken) of the merits and amount of
such claim, if it is determined that the Indemnifying Party owes any amounts to
the Indemnified Party, then the Indemnifying Party shall pay (subject to Section 10.4)
to the Indemnified Party in immediately available funds in an amount equal to
such claim as determined hereunder.

10.4   Limitations.

(a)    (i) Subject
to Sections 10.4(d) and 10.7, the representations, warranties and
covenants, made by the Member Guarantors and Sellers shall survive the Closing
only for a period of two (2) years following the Closing Date and then
shall be deemed null and void ab  initio; provided, that any claim made in writing pursuant to this Article 10
in respect of the alleged breach or violation of such representations,
warranties and covenants prior to the expiration of such two (2) year
period shall survive until finally resolved; provided,
further, that the following
representations, warranties and covenants shall survive the Closing and shall
not be subject to the time limitation set forth in this Section 10.4(a)(i):
regarding the obligations of Sellers with respect to Excluded Liabilities, to
discharge the Excluded Liabilities, and the obligations under Section 3.9
(Title to Assets), Section 9.1 (Reasonable Efforts), Section 9.2
(Brokers; Expenses), Section 9.4 (Special Tax Provisions), Section 9.7
(Non-Competition and Non-Solicitation), Section 9.9 (Access to
Information), 

 43
 

Section 9.12 (Renewal
or Extension of Lease), this Article 10 (Indemnification) and Article 11
(Miscellaneous).

(ii)        Subject to Sections 10.7 and 10.10, the
representations, warranties and covenants, made by the Purchaser shall survive
the Closing only for a period of two (2) years following the Closing Date
and then shall be deemed null and void ab  initio; provided, that any claim made in writing pursuant to this Article 10
in respect of the alleged breach or violation of such representations,
warranties and covenants prior to the expiration of such two (2) year
period shall survive until finally resolved; provided,
further, that the following covenants
shall survive the Closing and shall not be subject to the time limitation set
forth in this Section 10.4(a)(ii) regarding the obligations of the
Purchaser with respect to Assumed Liabilities, to discharge the Assumed
Liabilities, and the obligations under Section 9.1 (Reasonable Efforts), Section 9.2
(Brokers; Expenses), Section 9.4 (Special Tax Provisions), Section 9.7
(Non-Competition and Non-Solicitation), Section 9.9 (Access to
Information), Section 9.12 (Renewal or Extension of Lease), this Article 10
(Indemnification) and Article 11 (Miscellaneous).

(b)   None of the
Sellers or Member Guarantors shall have any liability for Purchaser Losses
arising under Section 10.1(a) unless and until the aggregate amount
of such Purchaser Losses exceed $300,000 (in the determination of such amount,
materiality standards shall not be taken into account), in which event
Purchaser may claim indemnification for the full amount of all Purchaser Losses
from the Sellers and the Member Guarantors (as applicable), over and above such
$300,000 amount but specifically subject to the limitations set forth in this
Agreement; provided, however,
that the $300,000 as referenced in this Section 10.4(b) shall not
apply as to violations of Sections 2.2 and 3.2 (Power and Authority), Section 3.9
(Title to Assets), Section 1.1 (Purchase of Assets), Section 1.7
(Adjustments to Purchase Price) and Section 9.7 (Non-Competition and
Non-Solicitation).

(c)    Subject to Section 10.4(d), in no event
shall the aggregate liability of the Sellers and Member Guarantors for
Purchaser Losses arising under Section 10.1(a) exceed (i) $9,652,232 for the one year period
following the Closing Date, and (ii) $4,826,116with respect to claims made by Purchaser in writing on Sellers
and Member Guarantors thereafter during the second year after the Closing Date
and thereafter there shall be no liability by the Sellers or Member Guarantors
to the Purchaser unless otherwise explicitly provided herein; provided,however, in no event shall the aggregate liability of the
Sellers and Member Guarantors for Purchaser Losses arising under Section 10.1(a) exceed
$9,652,232, except as provided in Section 10.4(d) and
Section 10.7. Any amount paid to Purchaser pursuant to the Escrow
Agreement as a result of a breach of representation, warranty or covenant, as described
in Section 10.1(a) or (b), shall reduce the amount that may be
recovered against the Sellers and Member Guarantors under this Section 10.4(c).
Except as contemplated in Section 10.7, any amount paid by Sellers and/or
the Member Guarantors as a result of a breach of representation, warranty or
covenant, as described in Section 10.1(a) or (b), or pursuant to the
Escrow Agreement as a result of a breach of representation, warranty or
covenant, as described in Section 10.1(a) or (b), shall reduce the amount
that may be recovered against them under Section 10.4(d).

(d)   Notwithstanding
any provision contained in this Agreement to the contrary, the limitations
contained in Sections 10.4(a)(i) and 10.4(c) hereof shall not apply
with respect to any breach by any Seller or Member Guarantor of:

(i)          Sections 2.2 and 3.2 (Power and Authority);

(ii)        Section 3.6 (Financial Statements—other
than as contemplated by Section 3.6(b) but subject to Section 3.11(a)(ii) and
the last sentence of 3.15(a));

(iii)       Section 3.9 (Title to Assets);

 44
 

(iv)        Section 3.11 (Notes and Receivables—other
than as contemplated by Section 3.11(a)(ii), but subject to the last
sentence of 3.15(a));

(v)         Section 3.14 (Litigation—but only to the extent of
judgments against Purchaser by third parties or governmental agencies with
respect to acts or omissions of Sellers that occurred prior to the Closing
Date);

(vi)        Section 3.15(a) (Compliance
with Laws—other than as contemplated therein, but subject to Section 3.11(a)(ii));

(vii)      Section 3.16 (Permits and Licenses—other
than as contemplated therein);

(viii)     Section 3.17 (Taxes); and

(ix)        Discharging the Excluded Liabilities;

provided,
however, that for purposes of this Section 10.4(d) such
provisions shall be read as though none of them contained more than one
Material Adverse Effect, materiality or knowledge qualifier; provided, further, that
any liability of the Sellers and Member Guarantors, in the aggregate, and
subject to each Member Guarantor’s percentage limitation set forth in Schedule 2, under this Section 10.4(d) or
otherwise under this Agreement (but in all events subject to Sections 9.7,
10.4(a)(i), (b) and (c), and 10.7) shall not exceed the Purchase Price
minus the $300,000 as referenced in Section 10.4(b).

10.5   Rights Under Escrow Agreement.   In the event any Seller or Member Guarantor has any
liability to Purchaser pursuant to Section 10.1 hereof for any Purchaser
Losses, in addition to any other rights and remedies Purchaser may have,
Purchaser shall be entitled to payment thereof under the Escrow Agreement (but
there shall be no duplicate payments to Purchaser) and all indemnity claims
relating to a breach of a representation, warranty or covenant of the Sellers
and Member Guarantors (other than pursuant to Section 1.1 (Purchase of
Assets), Section 1.7 (Adjustments to Purchase Price) and Section 9.7
(Non-Competition and Non-Solicitation)) shall be first paid from the escrow
pursuant to the Escrow Agreement to the extent of any funds therein.

10.6   Payments.   All
payments made under this Article 10 shall be deemed adjustments to the
Purchase Price.

10.7   Exclusive Remedy.

(a)    Notwithstanding
anything to the contrary contained in this Agreement, the sole and exclusive
remedy available to the Parties against the other Parties hereto from and after
the date hereof for any and all claims arising under this Agreement, whether a
remedy otherwise could have been sought on the basis of contract,
quasi-contract, negligence, tort, strict liability or absolute liability
(whether statutory or common law) or otherwise and regardless of whether or to
what extent any statue or common law may provide, shall be indemnification
pursuant to this Article 10; provided, however, that this Section 10.7 shall not preclude or otherwise
limit the assertion of any right or remedy for specific performance or other
equitable relief, including specific performance, of the Protective Covenants; provided, further, that
Purchaser may pursue any right or remedy for a claim of fraud against Sellers
or Member Guarantors (jointly, not severally, and in any event each such Member
Guarantor shall be liable for only its own fraud and not for any other fraud of
another party to this Agreement) and recover all amounts due therefor without
any limitations imposed on such amounts (including, without limitation, the
limitations imposed by Section 10.4 or Section 10.11) to the extent
Purchaser can establish by the appropriate standard in a court of competent
jurisdiction that Sellers, jointly and severally, and each Member Guarantor,
severally and in any event each such Member Guarantor shall be liable for only
its own fraud and not for any other fraud of another party to this Agreement,
have committed fraud against the Purchaser with respect to this Agreement and
the transactions contemplated hereby; provided, further, that Sellers or the Member Guarantors may 

 45
 

pursue any right or remedy
for a claim of fraud against the Purchaser and recover all amounts due therefor
without any limitations imposed on such amounts (including, without limitation,
the limitations imposed by Section 10.10) to the extent the Sellers or
Member Guarantors can establish by the appropriate standard in a court of
competent jurisdiction that the Purchaser has committed fraud against the
Sellers or the Member Guarantors with respect to this Agreement and the
transactions contemplated hereby.

(b)   Notwithstanding
anything to the contrary contained in this Agreement, Purchaser may pursue any
right or remedy for a claim of a breach of the Protective Covenants set forth
in Section 9.7, jointly and severally against Sellers, against each Member
Guarantor severally and only based on and limited to such Member Guarantor’s
percentage listed in Schedule 2 for actions of the Sellers, and against each
Member Guarantor as to its own actions or inactions only but without regard to
such Member Guarantor’s percentage listed in Schedule 2,
and recover all amounts due therefore without any limitations imposed on such
amounts (including, without limitation, the limitations imposed by Section 10.4
or Section 10.11) other than as set forth in this Section 10.7(b). Notwithstanding
anything to the contrary herein except as set forth in Sections 9.7 and 10.7,
all Parties hereto acknowledge that the total liability of a Member Guarantor
under this Agreement for any cause of action whatsoever, shall in the
aggregate, in all events be limited to such Member Guarantor’s percentage of
the Purchase Price set forth in Schedule 2.

10.8   Books and Records.   The Indemnified
Party shall make available to the Indemnifying Party and its counsel and
accountants at reasonable times and for reasonable periods, during normal
business hours, all books and records of the Indemnified Party relating to any
such possible claim for indemnification, and each Party hereunder shall render
to the other such assistance as it may reasonably require of the other in order
to insure prompt and adequate defense of any suit, claim or proceeding based
upon a state of facts which may give rise to a right of indemnification
hereunder.

10.9   Tax and Insurance Benefit.   The amount of any Loss for which indemnification is
provided under this Article 10 shall be (i) net of any amounts
actually recovered, if any, by the Indemnified Party under any insurance policies
with respect to such Loss and taking into account any premium adjustments
(retrospective or otherwise for the appropriate period of time as determined by
the Parties or a court) proximately caused by the making of such claim under
any insurance policies; and (ii) reduced or increased to take account of
any net Tax benefit or Tax cost realized by the Indemnified Party proximately
caused by the incurrence or payment of any such Loss, in each case when and as
such Tax cost or Tax benefit is actually realized through an increase or
reduction of Taxes otherwise due; provided, however,
that any amounts actually recovered pursuant to any insurance policies and any
reduction as a result of any net Tax benefit realized by the Indemnified Party
shall not be counted for purposes of calculating the limit on indemnification
set forth in Sections 10.4(c) and 10.4(d) (which means that it shall
not reduce the amount of Losses on which Sellers shall be obligated to make
payments pursuant to such Sections).

10.10   Limitation on Purchaser’s Liability.

(a)    Except as
provided in Section 10.4(a)(ii), Section 10.7 or Section 10.10(b),
the liability of the Purchaser to the Sellers and the Member Guarantors for any
breaches of its representations, warranties and covenants made by the Purchaser
in connection with this Agreement shall be limited to $9,652,232 for the one year period following the Closing Date, and (ii) $4,826,116with respect to claims made by
Sellers or Member Guarantors in writing on Purchaser thereafter during the
second year after the Closing Date and thereafter there shall be no liability
by the Purchaser to the Sellers or Member Guarantors unless otherwise
explicitly stated herein.

(b)   Notwithstanding
any provision contained in this Agreement to the contrary, the dollar
limitations contained in Section 10.10(a) shall not apply with
respect to any breach by the Purchaser of (i) Section 4.2 (Power and
Authority), (ii) Section 4.5 (Litigation), and (iii) discharging
the Assumed 

 46
 

Liabilities; provided, further, that
any liability of the Purchaser to the Sellers or the Member Guarantors, in the
aggregate, under this Section 10.10 or otherwise under this Agreement,
except for a cause of action relating to fraud as set forth in Section 10.7,
shall not exceed the Purchase Price.

10.11   Losses.   Notwithstanding
anything to the contrary herein and subject to Section 10.7, Losses (as
defined in Section 10.1) shall not include claims, costs, expenses
(including costs of investigation, attorneys’ fees, accounting fees and court
costs), judgments, actions, suits, proceedings, penalties, fines, damages,
losses and liabilities of any kind or nature resulting from (i) any
Adverse Occurrence, (ii) any change or decrease in CompuCredit Corporation’s
or the Purchaser’s or affiliates’ equity price, (iii) any adverse
publicity with respect to the Industry, (iv) punitive damages, (v) exemplary
damages, (vi) speculative damages, (vii) consequential damages, (viii) or
any other damages other than actual damages or (ix) special damages,
except as specifically provided in the following sentence. Provided,
however, subject to all of the other
limitations set forth in this Section 10, the Purchaser shall be entitled
to bring a lawsuit to recover from the Sellers and Member Guarantors (based on
and limited to such Member Guarantor’s percentage listed in Schedule 2), the greater of (i) actual damages or (ii) special
damages resulting from a breach of warranty, representation or covenant of the
Sellers contained in this Agreement, but only to the extent such breach causes
a permanent loss of earnings in the Business in Purchaser’s hands, but such
special damages shall be strictly limited to the (x) actual loss of that
portion of the one year’s worth of Earnings Before Interest Taxes Depreciation
and Amortization, as reflected on the Initial Financial Statements for the
period ending December 31, 2003, that directly result from such breach by
the Sellers, multiplied by (y) five and two tenths (5.2); further,
provided, however,
the Purchaser shall use its commercially reasonable efforts to mitigate all
Losses.

ARTICLE 11

MISCELLANEOUS

11.1   Notices.

(a)    All notices, consents, requests and other
communications hereunder shall be in writing and shall be sent by hand
delivery, by certified or registered mail (return-receipt requested), by a
recognized national overnight courier service or telecopied as set forth below:

	
  If to Purchaser:

  	
  Valued Services Acquisitions Company, LLC

  
	
   

  	
  245 Perimeter Center Parkway

  
	
   

  	
  Suite 600

  
	
   

  	
  Atlanta, Georgia 30346

  
	
   

  	
  Attention: President

  
	
   

  	
  Fax: (770) 206-6187

  
	
  with a copy to:

  	
  Valued Services
  Acquisitions Company, LLC

  
	
   

  	
  245 Perimeter Center Parkway

  
	
   

  	
  Suite 600

  
	
   

  	
  Atlanta, Georgia 30346

  
	
   

  	
  Attention: General Counsel

  
	
   

  	
  Fax: (770) 206-6183

  
	
  and a copy to:

  	
  Troutman Sanders LLP

  
	
   

  	
  600 Peachtree Street, N.E., Suite 5200

  
	
   

  	
  Atlanta, Georgia 30308

  
	
   

  	
  Attention: Andrea M. Farley

  
	
   

  	
  Fax: (404) 962-6555

  

 47
 

 

	
  If to any Seller or

  	
   

  
	
  Member Guarantor:

  	
  Seller Representative

  
	
   

  	
  Thomas A. Dieruf

  
	
   

  	
  10000 Shelbyville Road

  
	
   

  	
  Louisville, Kentucky 40223

  
	
   

  	
  Fax: (502) 245-4792

  
	
  with a copy to:

  	
  Michael M. Fleishman

  
	
   

  	
  Greenebaum Doll & McDonald PLLC

  
	
   

  	
  101 South Fifth Street

  
	
   

  	
  3500 National City Tower

  
	
   

  	
  Louisville, KY 40202

  
	
   

  	
  Fax: (502) 540-2131

  
	
  with a copy to:

  	
  Sharon L. McBrayer

  
	
   

  	
  Womble Carlyle Sandridge & Rice, PLLC

  
	
   

  	
  One Atlantic Center

  
	
   

  	
  1201 West Peachtree Street, Suite 3500

  
	
   

  	
  Atlanta, GA 30309

  
	
   

  	
  Fax: (404) 888-7490

  

 

(b)   Notices
delivered pursuant to Section 11.1(a) shall be deemed given: (i) on
the date delivered, if personally delivered or telecopied (with confirmation); (ii) at
the time received, if mailed; and (iii) two (2) business day after
timely delivery to the courier, if by overnight courier service.

(c)    Any Party
hereto may change the address to which notice is to be sent by written notice
to the other Party in accordance with this Section 11.1.

11.2   Entire Agreement.   This
Agreement, including all schedules and exhibits hereto (all of which are
incorporated herein by this reference into this Agreement), contains the entire
agreement and understanding concerning the subject matter hereof among the
Parties and specifically supersedes any other agreement or understanding among
the Parties related to the subject matter hereof, including that certain Letter
of Intent dated as of December 29, 2003; provided,
that the provisions of that certain
Confidentiality Agreement between Purchaser and First American Holding, dated October 13,
2003, shall remain in full force and effect.

11.3   Waiver; Amendment.   No waiver, termination or discharge of this
Agreement, or any of the terms or provisions hereof, shall be binding upon any
Party unless confirmed in writing. No waiver by any Party of any term or
provision of this Agreement or of any default hereunder shall affect such Party’s
rights thereafter to enforce such term or provision or to exercise any right or
remedy in the event of any other default, whether or not similar. This
Agreement may not be modified or amended except by a writing executed by all
Parties.

11.4   Severability.   If any
provision of this Agreement shall be held void, voidable, invalid or
inoperative, no other provision of this Agreement shall be affected as a result
thereof, and, accordingly, the remaining provisions of this Agreement shall
remain in full force and effect as though such void, voidable, invalid or
inoperative provision had not been contained herein.

11.5   Governing Law.   This Agreement shall be governed by and construed in
accordance with the laws of the Commonwealth of Kentucky, without regard to the
principles of conflicts of laws.

11.6   Assignment.   No Party may assign this
Agreement, in whole or in part, without the prior written consent of the other
Party, and any attempted assignment not in accordance herewith shall be null
and 

 48
 

void and of no force or
effect; provided, that
Purchaser may assign its rights under this Agreement to any subsidiary or
affiliate, but no such assignment shall relieve Purchaser of its obligations
hereunder.

11.7   Binding Effect.   This Agreement shall be binding upon and shall inure
to the benefit of the Parties and their respective heirs, representatives,
successors and permitted assigns.

11.8   Headings.   The
titles, captions and headings contained in this Agreement are inserted for
convenience of reference only and are not intended to be a part of or to affect
in any way the meaning or interpretation of this Agreement.

11.9   References within Agreement.   Numbered or lettered articles, sections, paragraphs,
subsections and schedules herein contained refer to articles, sections,
paragraphs, subsections, and schedules and exhibits of this Agreement unless
otherwise expressly stated. The words “herein,” “hereof,” “hereunder,” “hereby,”
“this Agreement” and other similar references shall be construed to mean and
include this Agreement and all amendments to this Agreement unless the context
shall clearly indicate or require otherwise. The word “including” (and all
derivations thereof) shall be construed to mean “including, without limitation.”

11.10   Interpretation.   This
Agreement shall not be construed more strictly against any Party hereto
regardless of which Party is responsible for its preparation.

11.11   Further Assurances.   Upon the reasonable request of the any Party, each
Party agrees to take any and all actions, necessary or appropriate to give
effect to the terms and conditions set forth in this Agreement.

11.12   Counterparts; Fax Signatures.   This Agreement may be executed in one or more
counterparts, each of which shall be deemed to be an original, but all of which
together shall constitute the same Agreement. Any signature page of any
such counterpart, or any electronic facsimile thereof, may be attached or
appended to any other counterpart to complete a fully executed counterpart of
this Agreement, and any telecopy or other facsimile transmission of any
signature shall be deemed an original and shall bind such Party.

11.13   Knowledge.   Sellers shall be deemed to have “Knowledge” of a particular fact or other matter if (i) Frank
Keener, Michael M. Fleishman, Thomas A. Dieruf, Thomas H. Lowe, Robert Manning,
or any officer, divisional manager or regional director of any Seller, or (ii) solely
relating to Tax matters, any employee responsible for Tax matters, (A) is
actually aware of such fact or other matter, or (B) a prudent individual
would be expected to discover or otherwise become aware of such fact or other
matter in the course of conducting their duties in a reasonable and customary
manner in the ordinary course of business within his or her function and
responsibility.

11.14   Trusts.   It
is distinctly understood that each trustee which joins herein as a Member
Guarantor does so strictly in the fiduciary capacity as trustee of a Member
Guarantor trust. Any Member Guarantor trust which, within two (2) years
after the Closing or while a claim by Purchaser is pending against the Sellers
and/or Member Guarantors under this Agreement of which the Purchaser has given
written notice in accordance with this Agreement, makes any distributions of
funds that have been co-mingled with any Sale Proceeds (as defined herein) from
such Member Guarantor trust to its trust beneficiaries, including a
distribution of any of the proceeds from the sale of the Acquired Assets
hereunder and the avails and reinvestments thereof (the “Sale Proceeds”) received by such Member Guarantor trust,
but only up to the liability imposed under this Agreement, shall require each
trust beneficiary receiving such distribution to expressly assume in writing,
and shall be obligated jointly and severally with each trust beneficiary
receiving such distribution to fulfill, such Member Guarantor trust’s
indemnification liability under ARTICLE 10 hereof existing at the time such
distribution is made to its trust beneficiaries, but only to the extent of such
distribution. In the event of any such distribution by the trustee of any
Member Guarantor within two (2) years after the Closing or while a claim
by Purchaser is 

 49
 

pending against the
Sellers and/or Member Guarantors under the Agreement of which the Purchaser has
given written notice in accordance with this Agreement, the trustee of such
Member Guarantor shall require each trust beneficiary to make an express
assumption of liability in accordance with the preceding sentence prior to the
making of such distribution to such trust beneficiaries, in a form reasonably
acceptable to Purchaser and the Member Guarantor trust’s legal counsel, and the
trustee of the Member Guarantor shall furnish to the Purchaser with such
assumption liability agreement from each trust beneficiary receiving such
distribution. Except to the extent of any trust distribution that the trustee
of a Member Guarantor trust makes which fails to meet the foregoing obligations
in this Section 11.14, the trustee of a Member Guarantor trust shall only
be liable for any breach hereof or indemnification hereunder to the extent of
that Member Guarantor trust’s assets on hand at the time written notice of such
breach or demand for such indemnification is made by Purchaser on such trustee
(but not to exceed such Member Guarantor’s total liability imposed under this
Agreement).

11.15   Pattco, LLC.   If, within two (2) years after the Closing or
while a claim by Purchaser is pending against the Sellers and/or Member
Guarantors under this Agreement of which the Purchaser has given written notice
in accordance with this Agreement, Member Guarantor Pattco, LLC (“Pattco”) makes any distribution to
its members of funds that have been co-mingled with any Sale Proceeds,
including a distribution to its members of any Sale Proceeds received by Pattco
(each a “Pattco Distribution”),
but only up to the liability imposed under this Agreement, then Pattco shall be
obligated to require each Pattco member receiving such Pattco Distribution to
expressly assume in writing, and Pattco shall be obligated jointly and
severally with each Pattco member receiving such Pattco Distribution to
fulfill, Pattco’s indemnification liability under ARTICLE 10 hereof existing at
the time such distribution is made to its members, but only to the extent of
such distribution. In the event of any such distribution by Pattco within two (2) years
after the Closing or while a claim by Purchaser is pending against the Sellers
and/or Member Guarantors under the Agreement of which the Purchaser has given
written notice in accordance with this Agreement, Pattco shall require its
Members to make an express assumption of liability in accordance with the
preceding sentence prior to the making of such distribution to such Pattco
Members, in a form reasonably acceptable to Purchaser and Pattco’s legal
counsel, and Pattco shall furnish the Purchaser with such assumption liability
agreement from each Pattco member receiving such distribution. Without limiting
the foregoing, each of James A. Patterson, II, Sharon Hagan and Deborah P.
Comley (each a “Pattco Member”)
hereby acknowledges and agrees that, in the event any Pattco Distribution is
made to one or more of the Pattco Members within two (2) years after the
Closing or while a claim by Purchaser is pending against the Sellers and/or
Member Guarantors under this Agreement of which the Purchaser has given written
notice in accordance with this Agreement, each Pattco Member who receives such
Pattco Distribution shall be obligated severally but not jointly under this Section 11.15
to execute the written documents and agreements contemplated by this Section 11.15.

* * * * * * *

 50

IN
WITNESS WHEREOF, the undersigned have executed, or have caused their respective
duly authorized representatives to execute, this Agreement as of the date first
written above.

	
  

  	
  “Purchaser”

  
	
   

  	
  Valued Services Acquisitions
  Company, LLC

  
	
   

  	
  By:

  	
  /s/ Jerry L. Robinson

  	
   

  
	
   

  	
  Name:

  	
  Jerry L. Robinson

  	
   

  
	
   

  	
  Title:

  	
  President

  	
   

  
	
   

  	
  “Sellers”

  
	
   

  	
  First American Holding, LLC

  
	
   

  	
   

  	
  By:

  	
  First American
  Management, Inc.

  
	
   

  	
   

  	
  Its Manager

  
	
   

  	
   

  	
  By:

  	
  /s/ Thomas H. Lowe

  	
   

  
	
   

  	
   

  	
   

  	
  Thomas H. Lowe, President

  
	
   

  	
  First American Cash Advance of
  Alabama, LLC

  
	
   

  	
   

  	
  By:

  	
  First American Holding,
  LLC

  
	
   

  	
   

  	
  Its sole member

  
	
   

  	
   

  	
  By:

  	
  First American
  Management, Inc.

  
	
   

  	
   

  	
   

  	
  Its Manager

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Thomas H. Lowe

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Thomas H. Lowe, President

  
	
   

  	
  FACA of Arkansas, LLC

  
	
   

  	
   

  	
  By:

  	
  First American Holding,
  LLC

  
	
   

  	
   

  	
  Its sole member

  
	
   

  	
   

  	
  By:

  	
  First American
  Management, Inc.

  
	
   

  	
   

  	
   

  	
  Its Manager

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Thomas H. Lowe

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Thomas H. Lowe, President

  
													

 

 

	
  

  	
  First American Cash Advance of Colorado, LLC

  
	
   

  	
   

  	
  By:

  	
  First American Holding,
  LLC

  
	
   

  	
   

  	
  Its sole member

  
	
   

  	
   

  	
  By:

  	
  First American
  Management, Inc.

  
	
   

  	
   

  	
   

  	
  Its Manager

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Thomas H. Lowe

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Thomas H. Lowe, President

  
	
   

  	
  First American Cash Advance of
  Florida, LLC

  
	
   

  	
   

  	
  By:

  	
  First American Holding,
  LLC

  
	
   

  	
   

  	
  Its sole member

  
	
   

  	
   

  	
  By:

  	
  First American
  Management, Inc.

  
	
   

  	
   

  	
   

  	
  Its Manager

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Thomas H. Lowe

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Thomas H. Lowe, President

  
	
   

  	
  First American Cash Advance of
  Georgia, LLC

  
	
   

  	
   

  	
  By:

  	
  First American Holding,
  LLC

  
	
   

  	
   

  	
  Its sole member

  
	
   

  	
   

  	
  By:

  	
  First American
  Management, Inc.

  
	
   

  	
   

  	
   

  	
  Its Manager

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Thomas H. Lowe

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Thomas H. Lowe, President

  
	
   

  	
  FACA of Kentucky, LLC

  
	
   

  	
   

  	
  By:

  	
  First American Holding,
  LLC

  
	
   

  	
   

  	
  Its sole member

  
	
   

  	
   

  	
  By:

  	
  First American
  Management, Inc.

  
	
   

  	
   

  	
   

  	
  Its Manager

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Thomas H. Lowe

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Thomas H. Lowe, President

  
									

 

 

	
  

  	
  Foresight Management Company, LLC

  
	
   

  	
   

  	
  By:

  	
  First American Holding,
  LLC

  
	
   

  	
   

  	
  Its sole member

  
	
   

  	
   

  	
  By:

  	
  First American
  Management, Inc.

  
	
   

  	
   

  	
   

  	
  Its Manager

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Thomas H. Lowe

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Thomas H. Lowe, President

  
	
   

  	
  Union Management Company, LLC

  
	
   

  	
   

  	
  By:

  	
  First American Holding,
  LLC

  
	
   

  	
   

  	
  Its sole member

  
	
   

  	
   

  	
  By:

  	
  First American
  Management, Inc.

  
	
   

  	
   

  	
   

  	
  Its Manager

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Thomas H. Lowe

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Thomas H. Lowe, President

  
	
   

  	
  First American Cash Advance of
  Tennessee, LLC

  
	
   

  	
   

  	
  By:

  	
  First American Holding,
  LLC

  
	
   

  	
   

  	
  Its sole member

  
	
   

  	
   

  	
  By:

  	
  First American
  Management, Inc.

  
	
   

  	
   

  	
   

  	
  Its Manager

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Thomas H. Lowe

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Thomas H. Lowe, President

  
	
   

  	
  First American Cash Advance of
  South Carolina, LLC

  
	
   

  	
   

  	
  By:

  	
  First American Holding,
  LLC

  
	
   

  	
   

  	
  Its sole member

  
	
   

  	
   

  	
  By:

  	
  First American
  Management, Inc.

  
	
   

  	
   

  	
   

  	
  Its Manager

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Thomas H. Lowe

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Thomas H. Lowe, President

  
									

 

 

	
  

  	
  First American Financial Services, LLC

  
	
   

  	
   

  	
  By:

  	
  First American Holding,
  LLC

  
	
   

  	
   

  	
  Its sole member

  
	
   

  	
   

  	
  By:

  	
  First American
  Management, Inc.

  
	
   

  	
   

  	
   

  	
  Its Manager

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Thomas H. Lowe

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Thomas H. Lowe, President

  
	
   

  	
  First American Franchising, LLC

  
	
   

  	
   

  	
  By:

  	
  First American Holding,
  LLC

  
	
   

  	
   

  	
  Its sole member

  
	
   

  	
   

  	
  By:

  	
  First American
  Management, Inc.

  
	
   

  	
   

  	
   

  	
  Its Manager

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Thomas H. Lowe

  
	
   

  	
   

  	
   

  	
   

  	
  Thomas H. Lowe, President

  
	
   

  	
  United Services, Inc.

  
	
   

  	
  By:

  	
  /s/ Thomas H. Lowe

  	
   

  
	
   

  	
  Name:

  	
  Thomas H. Lowe

  	
   

  
	
   

  	
  Title:

  	
  President

  	
   

  
	
   

  	
  First American Cash Advance of
  Oklahoma, LLC

  
	
   

  	
   

  	
  By:

  	
  First American Holding,
  LLC

  
	
   

  	
   

  	
  Its sole member

  
	
   

  	
   

  	
  By:

  	
  First American
  Management, Inc.

  
	
   

  	
   

  	
   

  	
  Its Manager

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Thomas H. Lowe

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Thomas H. Lowe, President

  
												

 

 

	
  

  	
  “Member Guarantor”

  
	
   

  	
  Pattco, LLC

  
	
   

  	
  By:

  	
  /s/ James A. Patterson

  	
   

  
	
   

  	
  Name:  James
  A. Patterson, President

  

 

 

	
  

  	
  “Member Guarantor”

  
	
   

  	
  DC Investments Trust

  
	
   

  	
  By:

  	
  /s/ James A. Patterson

  	
   

  
	
   

  	
  Name:  James
  A. Patterson, Co-Trustee

  
	
   

  	
  By:

  	
  /s/ Thomas A. Dieruf

  	
   

  
	
   

  	
  Name:  Thomas
  A. Dieruf, Co-Trustee

  
	
   

  	
  By:

  	
  /s/ Charlotte Elam

  	
   

  
	
   

  	
  Name:  Charlotte
  Elam, Co-Trustee

  

 

 

	
  

  	
  “Member Guarantor”

  
	
   

  	
  JP Investments Trust

  
	
   

  	
  By:

  	
  /s/ James A. Patterson

  	
   

  
	
   

  	
  Name:  James
  A. Patterson, Co-Trustee

  
	
   

  	
  By:

  	
  /s/ Thomas A. Dieruf

  	
   

  
	
   

  	
  Name:  Thomas
  A. Dieruf, Co-Trustee

  
	
   

  	
  By:

  	
  /s/ Charlotte Elam

  	
   

  
	
   

  	
  Name:  Charlotte
  Elam, Co-Trustee

  

 

 

	
  

  	
  “Member Guarantor”

  
	
   

  	
  SH Investments Trust

  
	
   

  	
  By:

  	
  /s/ James A. Patterson

  	
   

  
	
   

  	
  Name:  James
  A. Patterson, Co-Trustee

  
	
   

  	
  By:

  	
  /s/ Thomas A. Dieruf

  	
   

  
	
   

  	
  Name:  Thomas
  A. Dieruf, Co-Trustee

  
	
   

  	
  By:

  	
  /s/ Charlotte Elam

  	
   

  
	
   

  	
  Name:  Charlotte
  Elam, Co-Trustee

  

 

 

	
  

  	
  “Member Guarantor”

  
	
   

  	
  /s/ Laurence H. Powell

  	
   

  
	
   

  	
  Laurence H. Powell

  

 

 

	
  

  	
  “Member Guarantor”

  
	
   

  	
  /s/ Frank O. Keener

  	
   

  
	
   

  	
  Frank O. Keener

  

 

 

	
  

  	
  “Member Guarantor”

  
	
   

  	
  /s/ Michael M. Fleishman

  	
   

  
	
   

  	
  Michael M. Fleishman

  

 

 

	
  

  	
  “Member Guarantor”

  
	
   

  	
  /s/ C. Edward Glasscock

  	
   

  
	
   

  	
  C. Edward Glasscock

  

 

 

	
  

  	
  “Member Guarantor”

  
	
   

  	
  /s/ Thomas H. Lowe

  	
   

  
	
   

  	
  Thomas H. Lowe

  

 

 

	
  

  	
  “Member Guarantor”

  
	
   

  	
  /s/ Douglas S. Stephens

  	
   

  
	
   

  	
  Douglas S. Stephens

  

 

 

	
  

  	
  “Member Guarantor”

  
	
   

  	
  /s/ Neil A. Huffman

  	
   

  
	
   

  	
  Neil A. Huffman

  

 

 

	
  

  	
  “Member Guarantor”

  
	
   

  	
  P.A.J. Irrevocable Trust

  
	
   

  	
  By:

  	
  /s/ Terrell Black

  	
   

  
	
   

  	
  Name:

  	
  Terrell Black

  	
   

  
	
   

  	
  Title:

  	
  Trustee

  	
   

  
						

 

 

	
  

  	
  “Member Guarantor”

  
	
   

  	
  /s/ Thomas A. Dieruf

  	
   

  
	
   

  	
  Thomas A. Dieruf

  

 

 

	
  

  	
  “Member Guarantor”

  
	
   

  	
  /s/ John S. Dowds

  	
   

  
	
   

  	
  John S. Dowds

  

 

 

	
  

  	
  “Member Guarantor”

  
	
   

  	
  /s/ Donald D. Buchanan

  	
   

  
	
   

  	
  Donald D. Buchanan

  

 

 

	
  

  	
  “Member Guarantor”

  
	
   

  	
  /s/ Charlotte Elam

  	
   

  
	
   

  	
  Charlotte Elam

  

 

 

	
  

  	
  “Member Guarantor”

  
	
   

  	
  /s/ J. Douglas Kannapell

  	
   

  
	
   

  	
  J. Douglas Kannapell

  

 

 

	
  

  	
  “Member Guarantor”

  
	
   

  	
  /s/ Karen S. Kramer

  	
   

  
	
   

  	
  Karen S. Kramer

  

 

IN
WITNESS WHEREOF, for the limited purpose of acknowledging and agreeing to the
obligations of each Pattco Member set forth in Section 11.15 hereof, the
undersigned has executed this Agreement as of the date first written above.

	
  

  	
  “Pattco Member”

  
	
   

  	
  /s/ James A. Patterson, II

  	
   

  
	
   

  	
  James A. Patterson, II

  

 

IN
WITNESS WHEREOF, for the limited purpose of acknowledging and agreeing to the
obligations of each Pattco Member set forth in Section 11.15 hereof, the
undersigned has executed this Agreement as of the date first written above.

	
  

  	
  “Pattco Member”

  
	
   

  	
  /s/ Sharon Hagan

  	
   

  
	
   

  	
  Sharon Hagan

  

 

IN WITNESS WHEREOF, for the limited purpose of
acknowledging and agreeing to the obligations of each Pattco Member set forth
in Section 11.15 hereof, the undersigned has executed this Agreement as of
the date first written above.

	
  

  	
  “Pattco Member”

  
	
   

  	
  /s/ Deborah P. Comley

  	
   

  
	
   

  	
  Deborah P. Comley

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