Document:

Exhibit 10(w)(x)  

WESTINGHOUSE EXECUTIVE PENSION PLAN

(Amended and Restated as of December 31, 2005)  

        WHEREAS, former CBS Corporation (previously Westinghouse Electric Corporation), established the Westinghouse Executive Pension Plan (the "Plan") in order to
provide supplemental pension benefits for its eligible employees and their beneficiaries; and 

        WHEREAS,
pursuant to the Agreement of Merger dated September 6, 1999, former CBS Corporation merged into Viacom Inc. on May 4, 2000 (the "Effective Time"); and 

        WHEREAS,
Viacom, Inc. separated into two publicly-traded companies on December 31, 2005, CBS Corporation (the "Company") and New Viacom, and the Company continues to
maintain the Plan for eligible employees of the Company and/or its subsidiaries and their beneficiaries; and 

        WHEREAS,
the Plan has been established and is maintained by the Company primarily for the purpose of providing deferred compensation for a select group of management or highly
compensated employees; and 

        WHEREAS,
the Plan was amended and restated, effective as of the Effective Time (except as otherwise provided); and 

        NOW,
THEREFORE, the Plan is hereby amended and restated, effective as of December 31, 2005, as follows: 

Section 1.    Definitions.  

                (a)
"Administrative Managers" means the persons or entities identified by the Chief Operating Officer of the Company to serve as administrative managers for employee
benefit plans. The Administrative Managers may delegate any and all of their duties, authority, and discretion under this Plan. 

                (b)
"Affiliated Entity" means a subsidiary company that is at least fifty percent (50%) owned by the Company or a partnership or a joint venture in which the Company is at
least a fifty percent (50%) owner. The term Affiliated Entity shall also include all entities in the Controlled Group of each Employer. 

                (c)
"Average Annual Compensation" means the amount equal to the sum of (x) plus (y), as defined below. For purposes of this paragraph, (x) equals 12 times the
average of the five highest monthly base salaries of Executive on the ten consecutive December 1sts which immediately precede the earliest of (i) the Executive's date of death,
(ii) the Executive's actual retirement date, or (iii) the Executive's Normal Retirement Date. For purposes of this paragraph, (y) equals the average of the five highest annual
incentive compensation awards, if any, paid to the Executive under the Westinghouse Annual Incentive Programs or equivalent annual program or programs during the ten consecutive years ending with the
earliest of (i) the year of the Executive's death, (ii) the year of the Executive's actual retirement date, or (iii) the year of the Executive's Normal Retirement Date. In the
case of an Eligible Affected Employee, the Executive's Effective Termination Date will be substituted for "actual retirement date" in determining Average Annual Compensation. 

                (d)
"Board" means the Board of Directors of the Company. The Board and any committee of the Board may delegate any and all of its duties, authority, and discretion under
this Plan. 

                (e)
"Cash Balance Plan" means the CBS Cash Balance Plan Document component of the CCPP. 

                (f)
"CCPP" means the CBS Combined Pension Plan. 

                (g)
"Code" means the Internal Revenue Code of 1986, as amended. 

                (h)
"Company" means CBS Corporation and its subsidiaries and any successor to CBS Corporation by merger or the sale of substantially all of the assets of CBS Corporation.
For periods prior to the Effective Time, the Company was the former CBS Corporation (previously Westinghouse Electric Corporation). 

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                (i)
"Controlled Group" means, with respect to the Company: (a) any corporation which is a member of a controlled group of corporations, within the meaning of
Section 1563(a) of the Code, determined without regard to Sections 1563(a)(4) and (e)(3)(C) of the Code, including such Employer; (b) any trade or business under common control with the
Company, within the meaning of Section 414(c) of the Code; (c) any employer which is included with such Company in an affiliated service group, within the meaning of
Section 414(m) of the Code; or (d) any other entity required to be aggregated with such Company pursuant to regulations under Section 414(o) of the Code. 

                (j)
"Credited Service" has the meaning defined in (i) for an individual who participates in the Group W Plan, the Group W Plan, (ii) for an individual who
participates in the Cash Balance Plan, either of the Group W Plan or the WPP, depending upon whether the individual was most recently a participant in the Group W Plan or the WPP prior to becoming a
participant in the Cash Balance Plan, and (iii) for an individual who is not described in (i) or (ii) above, the WPP; provided that, for purposes of the Plan it shall also include
such service with a Designated Entity or Designated Group; but it shall not include any "deemed" service which may be awarded under a special retirement window or similar arrangements. 

                (k)
"Designated Entity" means an Affiliated Entity or other entity that is designated by the Managers as participating in the Plan. 

                (l)
"Designated Group" means a group of employees that is designated by the Managers as participating in the Plan. 

                (m)
"Early Retirement Date" means: (i) for an Executive who is a participant in the WPP accruing Eligibility Service (and for any Executive not described in
(ii) below), the earlier of (1) attainment of age 60 with at least 10 years of Eligibility Service, or (2) attainment of age 58 with at least 30 years of Eligibility
Service, or (ii) for an Executive who is a participant in the Group W Plan or Cash Balance Plan accruing Eligibility Service, attainment of age 55 with at least 10 years of Eligibility
Service. 

                (n)
"Effective Termination Date" means the date an Eligible Affected Employee terminates service with the Employer. 

                (o)
"Eligibility Service" has the meaning defined in (i) for an individual who participates in the Group W Plan, the Group W Plan, (ii) for an individual who
participates in the Cash Balance Plan, the definition of "years of service" in the Cash Balance Plan, and (iii) for an individual who is not described in (i) or (ii) above, the
WPP. 

                (p)
"Eligible Affected Employee" means an Employee who qualified for restructuring benefits under Section 22 of the WPP. 

                (q)
"Employee" has the meaning defined in (i) for an individual who participates in the Group W Plan, the Group W Plan, (ii) for an individual who
participates in the Cash Balance Plan, the definition of "eligible employee" in the Cash Balance Plan, and (iii) for an individual who is not described in (i) or (ii) above, the
WPP. 

                (r)
"Employer" has the meaning defined in (i) for an individual who participates in the Group W Plan, the Group W Plan, (ii) for an individual who
participates in the Cash Balance Plan, the Cash Balance Plan, and (iii) for an individual who is not described in (i) or (ii) above, the WPP. 

                (s)
"Equivalent Actuarial Value" means an amount having equal value when computed on the basis of (i) an annual interest rate of 7%, and (ii) mortality rates
per the "applicable mortality table" published in Revenue Ruling 95-6. 

                (t)
"Executive" means any Employee who is employed in a corporate grade 40 or above position or a comparable position with an Employer, a Designated Entity or a Designated
Group, or in a position with an Employer, a Designated Entity or a Designated Group that is otherwise determined by the chief executive officer of the Company or the Managers to be eligible as an
Executive position under the Plan based upon the duties and responsibilities of the position, and the Employee has been notified in writing. 

                By
participating in the Plan, an Executive is also deemed to be a "bona fide executive" and/or "high policymaking employee," as defined under the federal Age Discrimination
in Employment Act, as amended. 

                (u)
"Executive Benefit Service" means the Executive's total years of Eligibility Service if: (i) the Executive was making the Maximum Contribution during each of
those years; or (ii) the Executive (1) was making 

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the
Maximum Contribution during each of those years after the date he or she first became an Executive, and (2) has complied with the provisions of the Executive Buy Back process (as set forth
in Appendix A of the Plan) as to those years prior to his or her first becoming an Executive. The Executive Benefit Service of an Executive who did not make the Maximum Contribution during
those years prior to the date he or she first became an Executive and has not complied with the Executive Buy Back process will be based solely on the period(s) of Eligibility Service during which he
or she made the Maximum Contribution. An Executive will not be credited with any additional Executive Benefit Service on or after the date his or her Executive Pension Supplement is frozen pursuant to
Section 2(a). 

                (v)
"Executive Pension Base" means the amount determined by multiplying 1.47 percent times Average Annual Compensation times the number of years of Executive Benefit
Service accrued to the earliest of the Executive's actual retirement date, the Executive's Normal Retirement Date or the date of the Executive's death; or, in the case of an Eligible Affected
Employee, the Executive's Effective Termination Date. Also, in
the case of an Eligible Affected Employee, in the event that benefits commence under this Plan prior to age 65, then the Executive Pension Base will be actuarially reduced by the same percentage that
the Executive's benefit under the WPP would be actuarially reduced for life annuity benefits commencing at the time. An Executive's Executive Pension Base will be frozen on the date his or her
Executive Pension Supplement is frozen pursuant to Section 2(a). 

                (w)
"Executive Pension Supplement" means the pension calculated pursuant to Sections 3 and 4 of this Plan. There will be no Executive Pension Supplement payable if the
Executive's Qualified Plan Benefit equals or exceeds his or her Executive Pension Base. Section 2(a) sets out rules under which certain Executives' Executive Pension Supplements are frozen. 

                (x)
"Financial Managers" means the persons or entities identified by the Chief Operating Officer of the Company to serve as financial managers for employee benefit plans.
The Financial Managers may delegate any and all of their duties, authority, and discretion under this Plan. 

                (y)
"Group W Plan" means the Group W Plan Document component of the CCPP. 

                (z)
"Managers" means all of the Financial Managers and the Administrative Managers. 

                (aa)
"Maximum Contribution" means: (i) during such time as the Employee was eligible to participate in the WPP or the Group W Plan, the maximum amount the Employee
was permitted to contribute to such plan, and (ii) during such time as the Employee was employed by a Designated Entity or as part of a Designated Group, the maximum amount the Employee was
permitted to contribute, if any, to that Designated Entity's or Designated Group's defined benefit pension or Money Purchase Pension Plan, if any, or to such defined benefit pension or Money Purchase
Pension Plan, as was made available to employees of said Designated Entity or Designated Group, if any. In addition, in order to be deemed to have made the Maximum Contribution during the period
described in (ii) above, the Employee must have paid the Company an amount of each of his or her annual incentive compensation awards based on the maximum WPP or Group W Plan contribution
formula applied to 50% of said awards. 

                (bb)
"Money Purchase Pension Plan" means a defined contribution plan, as defined in Section 3(34) of the Employee Retirement Income Security Act of 1974, as amended,
that is subject to the minimum funding requirements of Section 412 of the Code. 

                (cc)
"Normal Retirement Date" means, with respect to an Executive, the later of (i) the first day of the month following his 65th birthday, or
(ii) the first day of the month following his completion of 5 years of Eligibility Service. 

                (dd)
"Permanent Job Separation" has the meaning defined in (i) for an individual who participates in the WPP, the WPP, and (ii) for an individual who
participates in the Group W Plan, the Group W Plan. An individual who never participated in the WPP or the Group W Plan cannot have a Permanent Job Separation. 

                (ee)
"Plan" means this Westinghouse Executive Pension Plan. 

                (ff)
"Qualified Plan Benefit" means (i) the annual amount of pension the Executive has accrued under the WPP, the Group W Plan, the Cash Balance Plan, and any
applicable defined benefit pension plan of, or made available to employees of, a Designated Entity or Designated Group based on Credited Service accumulated up to 

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the
earlier of the Executive's actual retirement date or death, (ii) the amount the Executive is entitled to receive on a life annuity basis for retirement under any Money Purchase Pension Plan
of, or made available to employees of, a Designated Entity or Designated Group, and (iii) in any case where service included in the Executive's Eligibility Service also entitles that Executive
to benefits under one or more retirement plans (whether a defined benefit or Money Purchase Pension Plan or both) of another company, the amount the Executive is entitled to receive on a life annuity
basis for retirement from those plans. In the case of (ii) and (iii) above, the benefits will be computed and compared according to procedures determined by the Administrative Managers
on a plan-by-plan basis. The Qualified Plan Benefit does not include any early pension retirement supplement. In the case of an Eligible Affected Employee, the Executive's
Effective Termination Date will be substituted for "actual retirement date" in determining his or her Qualified Plan Benefit. An Executive's Qualified Plan Benefit will not include any benefit accrued
on account of Credited Service on or after the Executive's Executive Pension supplement is frozen pursuant to Section 2(a). 

                (gg)
"Retirement Eligible" means that the Executive is accruing Eligibility Service and (i) has attained age 65 and completed five or more years of Eligibility
Service, (ii) has attained age 60 and completed 10 or more years of Eligibility Service, (iii) has attained age 58 and completed 30 or more years of Eligibility Service,
(iv) after March 31, 1999, for Executives who are participants in the Group W Plan or the Cash Balance Plan on or after such date, has attained age 55 and completed 10 or more years of
Eligibility Service, or (v) has satisfied the requirements for an immediate pension under the Special Retirement Pension provisions of the WPP or Group W Plan. 

                (hh)
"Special Retirement Date" means the first day of the month following the month in which an Employee's employment is terminated as a result of a Permanent Job
Separation. 

                (ii)
"Westinghouse Annual Incentive Programs" means the Westinghouse Annual Performance Plan, the Westinghouse Annual Incentive Plan, and the former Westinghouse
By-law XVI Incentive Compensation Program. 

                (jj)
"WPP" means the Westinghouse Pension Plan Document component of the CCPP (or, for periods prior to the merger of the Westinghouse Pension Plan into the CCPP, the
Westinghouse Pension Plan). 

Section 2.    Eligibility for Benefits: Mandatory Retirement.  

                (a)    No New Participants: Benefit Freeze.    No employee will be eligible to accrue any Executive
Pension Supplement after March 31, 1999 unless such Employee had accrued an Executive Pension Supplement as of March 31, 1999, and no Employee rehired after March 31, 1999 will be
eligible to accrue any Executive Pension Supplement after such rehire. In addition, no Executive who is a participant in the Group W Plan or Cash Balance Plan on or after March 31, 1999 (or on
a later date that immediately precedes participation in the Group W Plan or Cash Balance Plan) shall be eligible to accrue any additional Executive Pension Supplement after March 31, 1999 (or
such later date described above), unless such Executive: (i) is age 55 or older on March 31, 1999, or (ii) has 70 or more "points" (as defined in the CBS Cash Balance Plan
Document component of the CBS Combined Pension Plan) on March 31, 1999. 

                (b)    General.    Subject to Section 7 and all other provisions of this Plan, each Executive
will be entitled to the benefits of this Plan on separation of service from the Company, an Employer, a Designated Entity or a Designated Group, provided that such Executive: (i) has been
employed in a position that meets the definition of Executive for five or more continuous years immediately preceding the earlier of the Executive's actual retirement date or the Executive's Normal
Retirement Date; (ii) has made the Maximum Contribution during each year of Eligibility Service from the date he or she first became an Executive until the earliest of his or her date of death,
actual retirement date or Normal Retirement Date; (iii) is a participant in the WPP, Group W Plan, or Cash Balance Plan, or in the defined benefit or Money Purchase Pension Plan of, or made
available to employees of, a Designated Entity or Designated Group, if any; and (iv) is Retirement Eligible on the date of voluntary or involuntary separation of service from the Company, an
Employer, a Designated Entity or a Designated Group or, in the case of a Surviving Spouse benefit, satisfies the requirements for benefits under Section 4 of the Plan. 

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                Notwithstanding
the preceding paragraph, any Executive who (I) was a participant in the Group W Plan or Cash Balance Plan on March 31, 1999, and
(II) on March 31, 1999, had satisfied the eligibility requirements under (ii) above (by treating March 31, 1999 as the actual retirement date), need not thereafter satisfy
the qualification requirements under (i), (iii), and (iv) above to receive an Executive Pension Supplement. Similarly, any Executive who (I) was a participant in the Group W Plan or Cash
Balance Plan after March 31, 1999, and (II) on the date immediately preceding such participation date, satisfied the eligibility requirements under (ii) above (by treating the
date immediately preceding the participation date as the actual retirement date), need not thereafter satisfy the qualification requirements under (i), (iii), and (iv) above to receive an
Executive Pension Supplement. 

                (c)    Mandatory Retirement.    Pursuant to this Plan, the Company, an Employer, or any Affiliated
Entity shall be entitled, at its option, to retire any Executive who has attained sixty-five years of age and who, for the two-year period immediately before his or her
retirement, has participated in this Plan, if such Executive is entitled to an immediate non-forfeitable annual retirement benefit
from a pension, profit-sharing, savings or deferred compensation plan, or any combination of such plans, of the Company, an Employer, or any Affiliated Entity which equals, in the aggregate, at least
$44,000. The calculation of such $44,000 (or greater) amount shall be performed in a manner consistent with 29 U.S.C.A. Section 631(c)(2). 

Section 3.    Calculation of Executive Pension Supplement.  

                (a)    Amount of Supplement for Executives Who Retire On or After an Early, Normal, or Special Retirement
Date.    The Executive Pension Supplement for an Executive who satisfies the eligibility rules of Section 2 of the Plan and who retires on or after an Early,
Normal or Special Retirement Date shall be calculated as follows: 

                        (i)    If
the Executive (1) has attained age 60 and completed 10 or more years of Eligibility Service, (2) has attained age 65, or (3) has
satisfied the eligibility requirements for an immediate pension under the Special Retirement Pension provisions of the WPP or Group W Plan, the Executive Pension Supplement is determined by
subtracting the Executive's Qualified Plan Benefit that would be payable if he or she elected a life annuity option (after any reduction for early retirement, if applicable) from his or her Executive
Pension Base. 

                        (ii)    If
the Executive has not met the requirements of Section 3(a)(i) above but has attained age 58 and completed 30 or more years of
Eligibility Service, the Executive Pension Supplement is determined by subtracting the Executive's Qualified Plan Benefit that would be payable if he or she elected a life annuity option (before any
reduction for retirement prior to age 60) from his or her Executive Pension Base. 

                        (iii)    If
the Executive has not met the requirements of Section 3(a)(i) or Section 3(a)(ii) above, but is a participant in the
Group W Plan or Cash Balance Plan on or after March 31, 1999, has attained age 55, and has completed 10 or more years of Eligibility Service (but not as many as 30 years of Eligibility
Service), the Executive Pension Supplement is a benefit having the Equivalent Actuarial Value as the benefit that would have been determined under Section 3(a)(i) above if the Executive
had qualified for an Executive Pension Supplement commencing at age 60 under such Section. 

                        (iv)    If
the Executive has not met the requirements of Section 3(a)(i), Section 3(a)(ii), or Section 3(a)(iii) above, but is an
Executive who is a participant in the Group W Plan or Cash Balance Plan on or after March 31, 1999, has attained age 55, and has completed 30 or more years of Eligibility Service, the Executive
Pension Supplement is the benefit having the Equivalent Actuarial Value as the benefit that would have been determined under Section 3(a)(ii) above if the Executive had qualified for an
Executive Pension Supplement commencing at age 58 under such Section. 

                (b)    Amount of Supplement for Executives Who Retire Before Early, Normal, or Special Retirement
Date.    The Executive Pension Supplement payable at or after age 65 for an Executive who satisfies the eligibility rules of Section 2 of the Plan who
terminates from employment before his or her Early, Normal or Special Retirement Date shall be calculated as follows: the Executive Pension Supplement is determined by subtracting the Executive's
Qualified Plan Benefit that would be payable (determined without regard to
whether the Executive is vested in his or her Qualified Plan Benefit) if he or she elected a life annuity option (before any reductions for retirement prior 

5

 

to
age 65) from his or her Executive Pension Base. For a benefit commencing prior to age 65, the benefit shall have the Equivalent Actuarial Value as the benefit determined in the preceding
sentence commencing at age 65. 

Section 4. Death in Active Service.  

                (a)    Eligibility For an Immediate Benefit.    If an Executive dies in active service and, on his or
her date of death, satisfies the requirements of the Surviving Spouse Benefit for Death Before Retirement provisions of the WPP (or, for participants in the Group W Plan or the Cash Balance Plan, of
the Group W Plan) and satisfies the requirements of Section 2(b)(ii) and (iii) at the time of death, a Surviving Spouse benefit shall also be payable under this Plan if his or her
Executive Pension Base exceeds his or her Qualified Plan Benefit. The duration portion of the requirement of Section 2(b)(i) of the Plan that the Executive be employed in a position that
meets the definition of Executive for five or more continuous years is waived in this case. 

                The
Surviving Spouse Benefit under this Section 4(a) shall be the Executive Pension Supplement reduced in the same manner as under Section 8.C of the WPP (or,
for participants in the Group W Plan or Cash Balance Plan, Section 8.C of the Group W Plan). For purposes of this paragraph, the Executive Pension Supplement shall be calculated as follows: 

                        (i)    If
the Executive had attained age 60 or if the Executive had completed 30 years of Eligibility Service, the Executive Pension Supplement would be
calculated as described in Section 3(a)(i) or (ii); and 

                        (ii)    If
the Executive did not meet either of the requirements set forth in subparagraph (i) above, the Executive Pension Supplement would be 80% of the
difference between the Executive Pension Base and the unreduced Qualified Plan Benefit. 

                (b)    Eligibility for a Deferred Benefit.    If an Executive dies in active service who does not
satisfy the requirements of Section 4(a) above but who satisfies the requirements of the Surviving Spouse Benefit for Certain Vested Employees provisions of the WPP and satisfies the
requirements of Section 2(b)(ii) and (iii) at the time of death, a Surviving Spouse benefit shall also be payable under this Plan if his or her Executive Pension Base exceeds his
or her Qualified Plan Benefit. The duration portion of the requirement of Section 2(b)(i) of the
Plan that the Executive be employed in a position that meets the definition of Executive for five or more continuous years is waived in this case. 

                The
Surviving Spouse benefit under this Section 4(b) shall be the Executive Pension Supplement reduced in the same manner as under Section 9.C of the WPP (or,
for participants in the Group W Plan or Cash Balance Plan, Section 9.C of the Group W Plan). For purposes of this paragraph, the Executive Pension Supplement shall be calculated by subtracting
the Executive's Qualified Plan Benefit (before any reductions) from his or her Executive Pension Base. 

Section 5.    Payment of Benefits.  

                To
receive payment of an Executive Pension Supplement, an Executive must satisfy eligibility requirements set out in Section 2. The Executive Pension Supplement will
be paid in monthly installments, each equal to 1/12th of the annual amount determined in Section 3 or 4, whichever is applicable. If the Executive is Retirement Eligible and the
Executive or surviving spouse is eligible for WPP, Group W Plan, or Cash Balance Plan benefits, payments under the Plan will commence at the same time as payments under the WPP, Group W Plan, or Cash
Balance Plan, as applicable. If the Executive is not Retirement Eligible and the Executive or surviving spouse is eligible for WPP, Group W Plan, or Cash Balance Plan benefits, payments under this
Plan will commence at the later of (i) the time payments under the WPP, Group W Plan, or Cash Balance Plan, as applicable, commence, or (ii) attainment of age 55. 

                If
the Executive or Surviving Spouse is eligible for Plan benefits and is receiving payments from a defined benefit or Money Purchase Plan of, or made available to
employees of, a Designated Entity or Designated 

6

 

Group
and not from the WPP, Group W Plan or Cash Balance Plan payments shall commence at the same time as payments under such Designated Entity or Designated Group plan provided the requirements of
Section 2(b)(iv) have been met. 

                The
payments shall be payable for the life of the Executive or the Executive's Surviving Spouse, as the case may be. Unless the Financial Managers determine otherwise, the
Executive may elect that the Executive Pension Supplement determined in Section 3 be paid in accordance with any of the optional forms of payment, other than as a lump sum, then available under
the WPP (or, for participants in the Group W Plan, or Cash Balance Plan on or after March 31, 1999, under such plans), subject to the same reductions or other provisions that apply to the
elected form of payment under the WPP (or, for participants in the Group W Plan, or Cash Balance Plan on or after March 31, 1999, under such plans). Any election hereunder as to optional forms
of payment may be revoked prior to the effective date of such election, but may not be revoked on or after the earlier of the Executive's actual retirement date or commencement date for any
reason. All elections hereunder become effective on the earlier of the Executive's actual retirement date or commencement date. 

                Regardless
of the form of payment elected by the Executive, after the Executive retires and begins receiving an Executive Pension Supplement a minimum of 60 times the
monthly payment he or she would have received on a life annuity basis is guaranteed hereunder. 

                Surviving
Spouse benefits under this Plan will be paid in accordance with the form of payment made for Surviving Spouse Benefits under the WPP, Group W Plan, or Cash
Balance Plan, as applicable. Once a Surviving Spouse Benefit determined under Section 4(a) has commenced, a minimum of 60 times the monthly benefit payable to the Surviving Spouse is guaranteed
hereunder. In the event that an Executive retires or otherwise ceases to be an Employee of the Company, an Employer, a Designated Entity or a Designated Group and is later rehired by one of those
entities, the additional provisions set forth in Appendix B to the Plan will apply. 

Section 6.    Plan Costs.  

                Benefits
payable under the Plan and any expenses in connection therewith will be paid by the Company to the extent they are not available to be paid from any trust fund
established by the Company to help defray the costs of providing Plan benefits. Any trust fund so established will be owned by the Company and subject to the claims of creditors of the Company. 

Section 7.    Conditions to Receipt of Executive Pension Supplement.  

                Payments
of benefits under this Plan to Executives are subject to the condition that the recipient shall not engage directly or indirectly in any business which is at the
time competitive with any business or part thereof, or activity then conducted by, the Company, any of its subsidiaries or any other corporation, partnership, joint venture or other entity of which
the Company directly or indirectly holds a 10% or greater interest (together, the "Extended Company") in the area in which such business, or part thereof, or activity is then being conducted by the
Extended Company, unless such condition is specifically waived with respect to such recipient by the Company Board of Directors. Breach of the condition contained in the preceding sentence shall be
deemed to occur immediately upon an Executive's engaging in competitive activity. Payments suspended for breach of the condition shall not thereafter be resumed whether or not the Executive terminates
the competitive activity. A recipient shall be deemed to be engaged in such a business indirectly if he or she is an employee, officer, director, trustee, agent or partner of, or a consultant or
advisor to or for, a person, firm, corporation, association, trust or other entity which is engaged in such a business or if he or she owns, directly or indirectly, in excess of five percent of any
such firm, corporation, association, trust or other entity. The ongoing condition of this Section 7 shall not apply to an Executive age 65 or older. 

7

   Section 8.    Administration.  

                (a)    Administrative Managers.    This Plan shall be administered by the Administrative Managers. The
Administrative Managers shall have the right to make reasonable rules from time to time regarding the Plan; such rules shall be consistent with the policy provided herein. The Administrative Managers
shall have full and absolute discretion and authority to control and manage the operation and administration of the Plan, and to interpret and apply the terms of the Plan. 

                (b)    Appointment of Trustee.    The Board may authorize the establishment of one or more trusts and
the appointment of a trustee or trustees ("Trustee") to hold any and all assets of the Plan in trust. 

                (c)    Claims Procedures. 

                        (i)    Claims for Benefits.    Each person (including any Executive or Surviving Spouse) may
file a claim with the Administrative Managers for any benefit to which that person believes he is entitled under this Plan, in accordance with procedures established by the Administrative
Managers. 

                Generally,
the Administrative Managers are required to decide each claim within ninety (90) days of the date on which the claim is filed. If special circumstances
require a longer period for adjudication, the Administrative Managers must notify the claimant in writing of the reasons for an extension of time, and the date by which the Administrative Managers
will decide the claim, before the ninety (90) day period expires. Extensions beyond ninety (90) days after the expiration of the initial ninety (90) day period are not permitted.
If the Administrative Managers do not notify the claimant of their decision to grant or deny a claim within the time specified by this Section, the claim will be deemed to have been denied and the
appeal procedure described in paragraph (c)(iii) below will become available to the claimant. 

                        (ii)    Notice of Denial.    If the Administrative Managers deny a claim for benefits under the Plan,
the claimant will receive a written notice that explains: (A) the specific reason for the denial, including specific reference to pertinent Plan provisions on which the denial is based;
(B) any additional information or material necessary to perfect a claim, with an explanation of why such material is necessary, if any information would
be helpful or appropriate to further consideration of the claim; and (C) the steps to be taken if the claimant wishes to appeal, including the time available for appeal. 

                        (iii)    Appeal of Denied Claims for Benefits.    Claimants must submit a written request appealing the
denial of a claim within sixty (60) days after receipt of notice described by paragraph (c)(ii). Claimants may review all pertinent documents, and submit issues and comments in writing.
The Administrative Managers will provide a full and fair review of all appeals from denial of a claim for benefits, and their decision will be final and binding. 

                The
decision of the Administrative Managers ordinarily will be given within sixty (60) days after receipt of a written request for appeal, unless special
circumstances require an extension (such as for a hearing). If an extension of time for appeal is necessary, the claimant will receive written notice of the extension before the sixty (60) day
period expires. The decision may not be delayed beyond one-hundred twenty (120) days after receipt of the written request for appeal. Notice of the decision on appeal will be
provided in writing, and will explain the basis for the decision, including reference to applicable provisions of the Plan, in a manner calculated to be understood by the person who appealed the
denial of a claim. 

                        (iv)    Exhaustion of Remedies.    No legal action for benefits under the Plan may be brought unless
and until the following steps have occurred: (A) the claimant has submitted a written application for benefits in accordance with paragraph (c)(i); (B) the claimant has been
notified that the claim has been denied, as provided by paragraph (c)(ii); (C) the claimant has filed a written request appealing the denial in accordance with paragraph (c)(iii);
and (D) the claimant has been notified in writing that the Administrative Managers have denied the claimant's appeal, or the Administrative Managers have failed to act on the appeal within the
time prescribed by paragraph (c)(iii). 

                        (v)    Legal Action for Benefits.    No legal action for benefits under the Plan may be brought more
than one year after the time described in paragraph (c)(iv) above. 

8

 

Section 9.    Modification or Termination.  

                (a)    Right to Amend, Suspend, or Terminate.    The Company reserves the right, at any time and from
time to time, without notice, to suspend or terminate the Plan or to amend, in whole or in part, any and all provisions of the Plan, acting as follows: 

                        (i)    The
Board may suspend the Plan, terminate the Plan, or adopt Plan amendments that amend any and all provisions of the Plan in whole or in part; 

                        (ii)    The
Compensation Committee of the Board may adopt Plan amendments that amend any and all provisions of the Plan in whole or in part; 

                        (iii)    The
Managers may adopt Plan amendments that amend any and all provisions of the Plan in whole or in part, provided that no amendments may be adopted by
the Managers that would materially change any Plan benefits or materially increase the costs of the Plan; and 

                        (iv)    The
Administrative Managers may adopt Plan amendments that relate solely to the administration of the Plan and do not materially change any Plan benefits
or materially increase the costs of the Plan. 

                Any
such change, termination or suspension shall be effective at such time as is specified by the Board, the Compensation Committee, the Managers, or the Administrative
Managers, as applicable, or, if no such time is so specified, upon the adoption thereof. 

                (b)    Limitations on Amendment or Termination.    Notwithstanding the above, no such change or
termination may adversely affect (i) the benefits of any Executive who retires prior to such change or termination or (ii) the right of any then current Executive to receive upon
retirement (or to have a Surviving Spouse or beneficiary receive upon the Executive's death), an Executive Pension Supplement, calculated as of the effective date of such change or termination, under
the Plan provided that the Executive meets the following two conditions: (1) at the time of such change or termination the Executive has vested pension benefits under the WPP, the Group W Plan,
the Cash Balance Plan, or any applicable defined benefit or Money Purchase Pension Plan of a Designated Entity or Designated Group, and (2) at the date of such change or termination and at the
date of actual retirement or death the Executive has occupied, for the then required period next preceding such dates, a position that meets the definition of Executive in Section 1(t) of this
Plan as in effect at the date of such change or termination. 

Section 10.    Miscellaneous.  

                (a)    Limitations on Alienation.    No Executive, former Executive or Surviving Spouse shall have the
right to anticipate, alienate, sell, transfer, assign, pledge, encumber, or otherwise subject to lien any of the benefits provided under this Plan. Such rights may not be subject to the debts,
contracts, liabilities, engagements or torts of the Executive, former Executive or Surviving Spouse of an Executive. 

                Notwithstanding
the preceding paragraph, the Plan shall honor a qualified domestic relations order (within the meaning of Section 414(p) of the Code). 

                (b)    Incompetent Beneficiaries.    If, in the opinion of the Company, a person to whom a benefit is
payable is unable to care for his or her affairs because of illness, accident or any other reason, any payment due the person, unless prior claim therefore shall have been made by a duly qualified
guardian or other duly appointed and 

9

 

qualified
representative of such person, may be paid to some member of the person's family, or to some other party who, in the opinion of the Company, has incurred expense for such person. Any such
payment shall be a payment for the account of such person and shall be a complete discharge of the Company's liability under this Plan. 

                (c)    No Additional Rights Created.    The Company, in adopting and maintaining this Plan, shall not be
held to create or vest in any Executive or any other person any interest, pension or benefits other than the benefits specifically provided herein, or to confer upon any Executive the right to remain
in the service of the Company or any Affiliated Entity. 

Section 11.    Creditors' Claims.  

                Any
assets purchased by the Company to provide benefits under this Plan shall at all times remain subject to the claims of general creditors of the Company and any
Executive, former Executive or Surviving Spouse of an Executive participating in the Plan has only an unsecured promise to pay benefits from the Company. 

Section 12.    Governing Law.  

                To
the extent not preempted by federal law, the laws of the State of New York shall govern the construction and administration of the Plan. 

Section 13.    Severability.  

                If
any provision of this Plan or the application thereof to any circumstance or person is held to be invalid by a court of competent jurisdiction, the remainder of the Plan
and the application of such provision to other circumstances or persons shall not be affected thereby. 

Section 14.    Authority to Expand Benefits.  

                The
Board or the Compensation Committee of the Board may, from time to time and without notice, by resolution of the Board or of the Compensation Committee of the Board,
authorize the payment of benefits or expand the benefits otherwise payable or to be payable hereunder to any one or more individuals. The Board and the Compensation Committee shall each have the right
to delegate authority to take any action that they may take under this Section 14 of the Plan within such limits as they each may approve from time to time. 

10

 
APPENDIX A  

EXECUTIVE BUY BACK  

                The
Executive Buy Back process permits newly eligible Executives to "buy back" past years of Executive Benefit Service under the Plan for periods of time during which they
did not make the Maximum Contribution. 

                If
an Employee did not make the Maximum Contribution during each of the years of his or her Eligibility Service prior to the time he or she first became an Executive, the
Employee will be permitted to pay an amount equal to the Maximum Contributions that would have been payable during the ten years prior to the date he or she first became an Executive (or such lesser
period from the later of January 1, 1985 or the date the Employee was employed by the Company, an Employer, a Designated Entity or a Designated Group) plus compounded interest on that amount in
order to "buy back" his or her non-contributory years of service. 

                Upon
qualifying as an Executive, an Executive will be offered an Executive Buy Back opportunity at the time he or she first becomes an Executive. The actual terms of the
Executive Buy Back will be determined from time to time by the Administrative Managers. This election will be offered one time to the Executive and his or her decision whether or not to "buy back"
will be irrevocable. 

                Executive
Buy Back payments will be made to the Company and will not be deposited into the trust for the CCPP, including the WPP. Any Executive Buy Back payments made by
the Executive will not increase the Executive's Qualified Plan Benefit. 

                If,
at some point, an Employee is no longer an Executive or otherwise becomes ineligible to receive an Executive Pension Supplement, any Executive Buy Back payments the
Employee has made (including any interest the Employee paid) plus any other amount as defined in the last sentence of Section 1(aa) (the definition of Maximum Contribution) paid by the Employee
to the Company will be refunded, with interest, at such time as the Employee meets one of the following criteria: termination or retirement from the Company, an Employer, a Designated Entity or a
Designated Group; or death; provided however, no refund shall be made if the Employee is an eligible Executive, whether or not the amount of his or her Executive Pension Supplement exceeds zero. All
interest rates will be determined at the discretion of the Company. 

11

 
APPENDIX B  

REHIRED EXECUTIVES  

                This
Appendix B shall not apply with respect to any Executive who is rehired after March 31, 1999. 

Section 1.    Retired Executives Rehired as Executives.  

                If
an Executive who retired from the Company, an Employer, a Designated Entity or a Designated Group and who received or is receiving an Executive Pension Supplement as a
lump sum or on a monthly basis is rehired in an Executive position by the Company, an Employer, a Designated Entity or a Designated Group, the following provisions apply: 

                (a)    For
an Executive who elected a monthly Executive Pension Supplement, the Plan will: 

                        (i)    suspend
all Executive Pension Supplement payments; and 

                        (ii)    if,
but only if, the Executive is Retirement Eligible at the time of subsequent actual retirement: 

                                (1)    restore
previous years of Eligibility Service and Executive Benefit Service accrued prior to the Executive's retirement; and 

                                (2)    recalculate
the Executive's Executive Pension Supplement in accordance with the Plan at his or her subsequent actual retirement date as long as the
Executive then meets all Plan benefit qualification requirements. 

                The
Executive, having previously met the five years of continuous service as an Executive requirement prior to his or her first retirement, need not again meet that
requirement. The Executive's Average Annual Compensation will be computed without regard to the break in service, using zero for any periods during which the Executive was a retiree. 

                In
addition, if the Executive elected to take a lump sum Qualified Plan Benefit with respect to his or her initial retirement, then in any subsequent calculation of the
Executive's Executive Pension Supplement, the Executive's Executive Pension Base will be reduced by both the Executive's Qualified Plan Benefit received at the time of the initial retirement and the
Executive's Qualified Plan Benefit accrued from the date of rehire through the date of his or her subsequent retirement. 

                (b)    For
an Executive who elected a lump sum Executive Pension Supplement and who is Retirement Eligible at the time of subsequent actual retirement, the Plan
will: 

                        (i)    restore
previous years of Eligibility Service but not previous years of Executive Benefit Service; and 

                        (ii)    calculate
the Executive's additional Executive Pension Supplement at his or her subsequent actual retirement date on the basis of years of service after
the rehire in accordance with the Plan as long as the Executive then meets all Plan benefit qualification requirements. 

                As
under Section 1(a) of this Appendix B, the Executive, having previously met the five years of continuous service as an Executive requirement prior to his
or her first retirement, need not again meet that requirement. The Executive's Average Annual Compensation will be computed without regard to the break in service, using zero for any periods during
which the Executive was a retiree. 

                In
addition, if the Executive elected a monthly Qualified Plan Benefit with respect to his or her initial retirement, then the Executive's Qualified Plan Benefit accrued
from the date of rehire through the subsequent date 

12

 

of
actual retirement will be subtracted from the Executive's Executive Pension Base in calculating the Executive's additional Executive Pension Supplement at his or her subsequent retirement. 

                This
Section 1 shall apply regardless of whether the individual was an Executive at the time of the prior termination of employment, if such individual was an
Executive at the time of rehire. 

Section 2.    Former Executives with Vested Pensions Rehired as Executives.  

                If
the employment of an Executive of the Company, an Employer, a Designated Entity or a Designated Group who was eligible only for a vested pension under the relevant
qualified defined benefit or Money Purchase Plan, if any, was terminated and the Executive is rehired by the Company, an Employer, a Designated Entity or a Designated Group, the following provisions
apply: 

                        (i)    restore
previous years of Eligibility Service and Executive Benefit Service accrued prior to the Executive's termination of employment; 

                        (ii)    the
Executive must meet the five years of continuous service as an Executive requirement prior to a subsequent actual retirement counting only years of
service after the rehire; and 

                        (iii)    only
base salary and incentive awards earned after the rehire will be used in computing Average Annual Compensation. 

                In
addition, if the Executive elected to take his or her Vested Pension as a lump sum, in any calculation of an Executive Pension Supplement at actual retirement the
Executive's Executive Pension Base will be reduced by both the Executive's Qualified Plan Benefit at the time of the initial termination of employment and the Executive's Qualified Plan Benefit
accrued from the date of rehire through the date of actual retirement. 

                This
Section 2 shall apply regardless of whether the individual was an Executive at the time of the prior termination of employment, if such individual was an
Executive at the time of rehire. 

Section 3.    Retired Executives Rehired in Non-Executive Positions.  

                If
an Executive who retired from the Company, an Employer, a Designated Entity or a Designated Group and who received or is receiving an Executive Pension Supplement as a
lump sum or on a monthly basis is rehired by the Company, an Employer, a Designated Entity or a Designated Group in a non-Executive position, the following provisions apply: 

                (a)    For
a former Executive who elected a monthly Executive Pension Supplement, the Plan will: 

                        (i)    suspend
all Executive Pension Supplement payments; and 

                        (ii)    if,
but only if, the former Executive is still Retirement Eligible at time of subsequent actual retirement, recommence Executive Pension Supplement
payments at the time of the Executive's subsequent actual retirement without recalculation of amount. 

                At
subsequent actual retirement, the former Executive may re-select any form of payment of his or her Executive Pension Supplement then permitted under the
Plan. 

                (b)    For
a former Executive who elected to take his or her Executive Pension Supplement as a lump sum, no further benefits will be paid by the Plan. 

13

 
APPENDIX C  

AMENDMENT TO THE WESTINGHOUSE EXECUTIVE

PENSION PLAN FOR THE SALE OF PGBU  

                Effective
as of the Closing Date of the sale by former CBS Corporation (previously Westinghouse Electric Corporation) of its Power Generation Business ("PGBU" or
"Business") to Siemens Power Generation Corporation (the "Purchaser"), the Westinghouse Executive Pension Plan (the "Plan") retains liability, if any, for benefits earned to the Closing Date with
respect to employees of PGBU who transfer to the Purchaser and are described as "Business Employees" in Section 5.5(a)(i) of the Asset Purchase Agreement between former CBS Corporation
and the Purchaser dated November 14, 1997, as amended (the "Agreement") and are, pursuant to the Agreement, deemed to be employees of the Purchaser as of the Closing Date (hereinafter known as
"PGBU Employees") subject to the following conditions: 

                (1)    The
Plan shall recognize and credit the period of employment with the Purchaser or its Affiliates on and after the Closing Date solely for purposes of
calculating eligibility for the payment of benefits; provided that the Plan shall not recognize and credit any period of employment with the Business after the Purchaser and its Affiliates have sold
or divested the Business, or a portion thereof (whether by asset or stock sale, merger or spin-off (each a "Disposition")) with respect to the PGBU Employees who are transferred or
terminated in connection with such Disposition. 

                (2)    The
executive pension plan established by the Purchaser pursuant to Section 5.5(h)(i) of the Agreement (the "Purchaser Executive Plan") shall
be solely responsible for (and the Plan shall not provide for): 

                        (a)    any
benefit that becomes payable with respect to PGBU Employees retiring after the Closing Date that is the result of any reduction in force, mass layoff,
or plant closing by the Purchaser or its Affiliates (that is, if the benefit would not be payable absent such an event); or 

                        (b)    any
other early retirement subsidy or supplement that is not described in (1) above. 

                (3)    Average
Annual Compensation and Executive Benefit Service under the Plan with respect to PGBU Employees will be determined and frozen as of
August 31, 1998, and service by PGBU Employees for Siemens Power Generation Corporation from August 19, 1998 through August 31, 1998 shall be treated as Executive Benefit Service
for purposes of the Plan. 

                (4)    The
Purchaser and its Affiliates (but not any successor to the Purchaser and its Affiliates as owner of the Business or any part thereof) will be
considered a Designated Entity solely for purposes of determining eligibility for payment (including suspension of payment) of benefits. 

14

 
APPENDIX D  

AMENDMENT TO THE WESTINGHOUSE EXECUTIVE

PENSION PLAN FOR THE SALE OF ESBU  

                Effective
April 1, 1999, as a result of the sale of former CBS Corporation's Energy Systems Business ("ESBU") to WGNH Acquisition, LLC (the "Purchaser"), the
Westinghouse Executive Pension Plan (the "Plan") retains liability, if any, for benefits earned to April 1, 1999 with respect to employees of ESBU who transfer to the Purchaser and are
described as "Business Employees" in Section 5.5(a)(i) of the Asset Purchase Agreement between former CBS Corporation and the Purchaser Dated as of June 25, 1998, as amended (the
"Agreement") and are, pursuant to the Agreement, deemed to be employees of the Purchaser as of April 1, 1999 (hereinafter known as "ESBU Employees") subject to the following conditions: 

                (1)    The
Plan shall recognize and credit the period of employment with the Purchaser or its Affiliates on and after April 1, 1999 solely for purposes of
calculating eligibility for the payment of benefits; provided that the Plan shall not recognize and credit any period of employment with the Business after the Purchaser and its Affiliates have sold
or divested the Business, or a portion thereof (whether by asset or stock sale, merger or spin-off (each a "Disposition")) with respect to the ESBU Employees who are transferred or
terminated in connection with such Disposition. 

                (2)    The
executive pension plan established by the Purchaser (or, if none, Purchaser) pursuant to Section 5.5(h)(i) of the Agreement (the
"Purchaser Executive Plan") shall be solely responsible for (and the Plan shall not provide for): 

                        (a)    any
benefit that becomes payable with respect to ESBU Employees retiring after April 1, 1999 that is the result of any reduction in force, mass
layoff, or plant closing by the Purchaser or its Affiliates (that is, if the benefit would not be payable absent such an event); or 

                        (b)    any
other early retirement subsidy or supplement that is not described in (1) above. 

                (3)    Average
Annual Compensation and Executive Benefit Service under the Plan with respect to ESBU Employees will be determined and frozen as of April 1,
1999. 

                (4)    The
Purchaser and its Affiliates (but not any successor to the Purchaser and its Affiliates as owner of the Business or any part thereof) will be
considered a Designated Entity solely for purposes of determining eligibility for payment (including suspension of payment) of benefits. 

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Exhibit 10.1(b)    
    

 
 

FIRST AMENDMENT    
    

        THIS FIRST AMENDMENT (this "Amendment") dated as of November 29, 2004 is among Advance America, Cash
Advance Centers, Inc., a Delaware corporation (the "Borrower"), the Guarantors identified on the signature pages hereto (the
"Guarantors"), the Lenders identified on the signature pages hereto and Bank of America, N.A., as Administrative Agent. 

W I T N E S S E T H 

        WHEREAS,
a $265 million revolving credit facility has been extended to the Borrower pursuant that Amended and Restated Credit Agreement (as amended, modified and supplemented from
time to time, the "Credit Agreement") dated as of July 16, 2004 among the Borrower, the Guarantors, the Lenders identified therein and Bank of
America, N.A., as Administrative Agent; and 

        WHEREAS,
the Borrower has requested certain modifications to the Credit Agreement and the Required Lenders have agreed to the requested modifications on the terms set forth herein. 

        NOW,
THEREFORE, IN CONSIDERATION of the premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as
follows: 

        1.    Defined Terms.    Capitalized terms used herein but not otherwise defined herein shall have the meanings
provided to such terms in the Credit Agreement. 

        2.    Amendments.    

        (a)   The
following definitions are added to Section 1.1 of the Credit Agreement: 

"Special Purpose Subsidiary" means any Subsidiary which is acquired and/or formed solely for the purpose of holding the Specified Real Property,
provided that if at any time any such Subsidiary engages in any business activity other than holding the Specified Real Property and activities incidental thereto, or owns any property other than the
Specified Real Property and property related thereto, such Subsidiary shall no longer be deemed a "Special Purpose Subsidiary". 

"Specified Aircraft" means the 1985 Challenger 601 (Serial No. 3042) Aircraft and 1994 Lear 31-A (Serial No. 099)
Aircraft. 

"Specified Real Property" means the real property located at 135 N. Church Street, Spartanburg, South Carolina 29306. 

        (b)   The
proviso in the definition of "Consolidated Capital Expenditures" in Section 1.1 of the Credit Agreement is amended to read as follows: 

provided, that Consolidated Capital Expenditures shall not include, for purposes hereof, (a) expenditures of proceeds of Divestitures in
accordance with Section 3.3(b)(ii), (b) expenditures of proceeds of insurance settlements, condemnation awards and other settlements in respect of lost, destroyed, damaged or condemned
assets, equipment or other property to the extent such expenditures are made to replace or repair such lost, destroyed, damaged or condemned assets, equipment or other property or otherwise to acquire
assets or properties useful in the business of the members of the Consolidated Group within six (6) months of receipt of such proceeds, (c) Capital Lease Obligations relating to the
Borrower's headquarters in Spartanburg, South Carolina, (d) the purchase by the Borrower or any Subsidiary of the Capital Stock of Church & Commerce, LLC, and (e) the purchase by
the Borrower or any Subsidiary of the Specified Aircraft or the Capital Stock of any Person that owns the Specified Aircraft. 

        (c)   Clause (h)
of the definition of "Permitted Liens" in Section 1.1 of the Credit Agreement is amended to read as follows: 

(h)    Liens
securing mortgage Indebtedness permitted under Section 8.1(i), provided that such Liens attach only to the Specified Real
Property; and Liens securing purchase money and sale/leaseback Indebtedness (including Capital Leases) permitted under Sections 8.1(b), 8.1(c) and 8.1(i);  provided that
such Liens attach only to the Property financed or leased and such Liens attach thereto concurrently with or within 90 days after the acquisition or construction thereof in connection with the
purchase money transactions and within 30 days after the closing of any sale/leaseback transaction; 

        (d)   In
Section 2.2(a)(ii), the proviso in the last sentence that read ", provided that the maturity date shall not be
later than the date thirty (30) days after the date of the borrowing thereof" is deleted. 

        (e)   In
Section 2.4(b), the parenthetical "(such maturity date shall not be later than the date thirty (30) days after the date of the borrowing thereof)" is
deleted. 

        (f)    The
following sentence is added to the end of clause (a) of Section 7.11: 

Notwithstanding
the foregoing, any Subsidiary that is a Special Purpose Subsidiary shall not be required to comply with clauses (i) and (ii) of this Section 7.11(a),  provided that (A) the Credit
Parties shall, within thirty (30) days after the acquisition and/or formation of such Subsidiary, deliver
certificates representing the Capital Stock of such Subsidiary and related pledge agreements or pledge joinder agreements evidencing the pledge of all of the Capital Stock of such Subsidiary, together
with undated transfer powers executed in blank, and (B) if at any time such Subsidiary is not deemed a Special Purpose Subsidiary, shall within thirty (30) days thereof become a
Guarantor by complying with clauses (i) and (ii) of this Section 7.11(a). 

        (g)   In
Section 8.1, clauses (i) and (j) are renumbered as clauses (j) and (k) and a new clause (i) is added thereto to read as
follows: 

	(i)
	mortgage
Indebtedness of Church & Commerce, LLC incurred to purchase the Specified Real Property in an aggregate principal not to exceed $6,600,000 and renewals,
refinancings and extensions thereof, provided that any such renewal, refinancing or extension shall not increase the principal amount of such
Indebtedness outstanding at the time of such renewal, refinancing or extension; 

        (h)   The
following sentence is added at the end of Section 8.1 of the Credit Agreement: 

Notwithstanding
anything to the contrary in this Section 8.1 or otherwise, no Special Purpose Subsidiary shall contract, create, incur, assume or permit to exist any Indebtedness other than the
mortgage Indebtedness permitted under Section 8.1(i). 

        3.    Consents.    The Required Lenders agree that for purposes of calculating the cash consideration payable in
respect of Acquisitions for purposes of Section 8.4(a), the cash consideration paid by the Borrower (and Indebtedness assumed) in connection with the acquisition of Church & Commerce,
LLC and the acquisition of the Specified Aircraft shall be excluded from such calculation. 

        4.    Covenant of the Borrower.    The Loan Parties covenant and agree that within sixty (60) days of the
Borrower or any Subsidiary acquiring the Specified Aircraft or the Capital Stock of a Person that owns one or more of the Specified Aircraft, the Loan Parties shall (a) cause the Specified
Aircraft to be subject to first priority, perfected Liens in favor of the Administrative Agent to secure the Obligations pursuant to security documents in form and substance reasonably acceptable to
the Administrative Agent, subject in any case to Permitted Liens, and (b) deliver such other documentation as the Administrative Agent may reasonably request in connection with the foregoing,
including, without limitation, appropriate Lien filings, certified resolutions and other organizational and 

authorizing
documents, favorable opinions of counsel, all in form, content and scope reasonably satisfactory to the Administrative Agent. 

        5.    Conditions Precedent.    This Amendment shall be effective as of the date hereof upon execution of this
Amendment by the Credit Parties and the Required Lenders. 

        6.    Reaffirmation of Representations and Warranties.    The Borrower and each Guarantor represents and warrants that
the representations and warranties set forth in the Credit Agreement and the other Credit Documents are true and correct in all material respects as of the date hereof (except those that expressly
relate to an earlier period). 

        7.    Reaffirmation of Guaranty.    Each Guarantor (a) acknowledges and consents to all of the terms and
conditions of this Amendment, (b) affirms all of its obligations under the Credit Documents and (c) agrees that this Amendment and all documents executed in connection herewith do not
operate to reduce or discharge such Guarantor's obligations under the Credit Documents. 

        8.    No Other Changes.    Except as modified hereby, all of the terms and provisions of the Credit Documents
(including schedules and exhibits thereto) shall remain in full force and effect. 

        9.    Counterparts.    This Amendment may be executed in any number of counterparts, each of which when so executed
and delivered shall be deemed an original and it shall not be necessary in making proof of this Amendment to produce or account for more than one such counterpart. 

        10.    Governing Law.    This Amendment shall be deemed to be a contract made under, and for all purposes shall be
construed in accordance with, the laws of the State of North Carolina. 

 
 

[Signature Pages Follow]    

        IN
WITNESS WHEREOF, each of the parties hereto has caused a counterpart of this Amendment to be duly executed and delivered as of the date first above written. 

	
BORROWER:	
 	

ADVANCE AMERICA, CASH ADVANCE CENTERS, INC.,

a Delaware corporation
	

 	
 	

By:	
 	

	 	 	Name:	 	John T. Egeland
	 	 	Title:	 	President
	
GUARANTORS:	
 	

AARC, INC.,

a Delaware corporation
	

 	
 	

By:	
 	

	 	 	Name:	 	Dan C. Breeden, Jr.
	 	 	Title:	 	President
	

 	
 	

ADVANCE AMERICA SERVICING OF ARKANSAS, INC.,

a Delaware corporation

ADVANCE AMERICA SERVICING OF INDIANA, INC.,

a Delaware corporation

ADVANCE AMERICA LEASING SERVICES, INC.,

a Delaware corporation
	

 	
 	

By:	
 	

	 	 	Name:	 	John T. Egeland
	 	 	Title:	 	President of each of the foregoing
	

 	
 	

AAIC, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF ALABAMA, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF ALASKA, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF ARIZONA, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF ARKANSAS, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF CALIFORNIA, LLC,

a Delaware limited liability company

ADVANCE AMERICA, CASH ADVANCE CENTERS OF COLORADO, LLC,

a Delaware limited liability company

ADVANCE AMERICA, CASH ADVANCE CENTERS OF CONNECTICUT, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF DELAWARE, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF DISTRICT OF

COLUMBIA, INC., a Delaware corporation
	

 	
 	

By:	
 	

	 	 	Name:	 	William M. Webster IV
	 	 	Title:	 	President of each of the foregoing

[Signature Pages Continue] 

	

 	
 	

ADVANCE AMERICA, CASH ADVANCE CENTERS OF FLORIDA, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF GEORGIA, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF HAWAII, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF IDAHO, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF ILLINOIS, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF INDIANA, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF IOWA, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF KANSAS, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF KENTUCKY, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF LOUISIANA, LLC,

a Delaware limited liability company

ADVANCE AMERICA, CASH ADVANCE CENTERS OF MAINE, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF MARYLAND, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF MASSACHUSETTS, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF MICHIGAN, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF MINNESOTA, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF MISSISSIPPI, LLC,

a Delaware limited liability company

ADVANCE AMERICA, CASH ADVANCE CENTERS OF MISSOURI, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF MONTANA, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF NEBRASKA, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF NEVADA, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF NEW HAMPSHIRE, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF NEW JERSEY, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF NEW MEXICO, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF NEW YORK, INC.,

a Delaware corporation
	

 	
 	

By:	
 	

	 	 	Name:	 	William M. Webster IV
	 	 	Title:	 	President of each of the foregoing

[Signature Pages Continue] 

	

 	
 	

ADVANCE AMERICA, CASH ADVANCE CENTERS OF NORTH CAROLINA, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF NORTH DAKOTA, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF OHIO, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF OKLAHOMA, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF OREGON, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF PENNSYLVANIA, LLC,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF RHODE ISLAND, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF SOUTH CAROLINA, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF SOUTH DAKOTA, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF TENNESSEE, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF TEXAS, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF UTAH, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF VERMONT, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF VIRGINIA, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF WASHINGTON, LLC,

a Delaware limited liability company

ADVANCE AMERICA, CASH ADVANCE CENTERS OF WEST VIRGINIA, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF WISCONSIN, INC.,

a Delaware corporation

ADVANCE AMERICA, CASH ADVANCE CENTERS OF WYOMING, INC.,

a Delaware corporation

ADVANCE AMERICA SERVICING OF GEORGIA, INC.,

a Delaware corporation

MCKENZIE CHECK ADVANCE OF ALABAMA, L.L.C.,

a Tennessee limited liability company

MCKENZIE CHECK ADVANCE OF ARKANSAS, LLC,

a Tennessee limited liability company

MCKENZIE CHECK ADVANCE OF COLORADO, LLC,

a Tennessee limited liability company

MCKENZIE CHECK ADVANCE OF INDIANA, LLC,

a Tennessee limited liability company
	

 	
 	

By:	
 	

	 	 	Name:	 	William M. Webster IV
	 	 	Title:	 	President of each of the foregoing

[Signature Pages Continue] 

	

 	
 	

MCKENZIE CHECK ADVANCE OF IOWA, L.L.C.,

a Tennessee limited liability company

MCKENZIE CHECK ADVANCE OF KANSAS, LLC,

a Tennessee limited liability company

MCKENZIE CHECK ADVANCE OF MISSISSIPPI, LLC,

a Tennessee limited liability company

MCKENZIE CHECK ADVANCE OF MISSOURI, L.L.C.,

a Tennessee limited liability company

MCKENZIE CHECK ADVANCE OF NEBRASKA, LLC,

a Tennessee limited liability company

MCKENZIE CHECK ADVANCE OF NEW JERSEY, L.L.C.,

a Tennessee limited liability company

MCKENZIE CHECK ADVANCE OF OHIO, LLC,

a Tennessee limited liability company

MCKENZIE CHECK ADVANCE OF OREGON, LLC,

a Tennessee limited liability company

MCKENZIE CHECK ADVANCE OF WASHINGTON, L.L.C.,

a Tennessee limited liability company

MCKENZIE CHECK ADVANCE OF WISCONSIN, LLC,

a Tennessee limited liability company

NCAS OF DELAWARE, LLC,

a Delaware limited liability company

NCAS OF NEW JERSEY, LLC,

a Delaware limited liability company
	

 	
 	

By:	
 	

	 	 	Name:	 	William M. Webster IV
	 	 	Title:	 	President of each of the foregoing
	

 	
 	

ADVANCE AMERICA MONEY.COM, INC.,

a Delaware corporation
	

 	
 	

By:	
 	

	 	 	Name:	 	 
	 	 	Title:	 	 

[Signature Pages Continue] 

	

 	
 	

ADVANCE AMERICA SERVICING OF TEXAS, L.P.,

a Texas limited partnership
	

 	
 	

By:	
 	

ADVANCE AMERICA, CASH ADVANCE CENTERS OF TEXAS, INC.,

a Delaware corporation and its general partner
	

 	
 	

 	
 	

By:	
 	

	 	 	 	 	Name:	 	William M. Webster IV
	 	 	 	 	Title:	 	President

[Signature Pages Continue] 

	ADMINISTRATIVE AGENT:	 	BANK OF AMERICA, N.A., as Administrative Agent
	

 	
 	

By:	
 	

	 	 	Name:	 	 
	 	 	Title:	 	 
	
LENDERS:	
 	

BANK OF AMERICA, N.A., as a Lender
	

 	
 	

By:	
 	

	 	 	Name:	 	Scott K. Mitchell
	 	 	Title:	 	Senior Vice President
	

 	
 	

WACHOVIA BANK, NATIONAL ASSOCIATION
	

 	
 	

By:	
 	

	 	 	Name:	 	 
	 	 	Title:	 	 
	

 	
 	

US BANK NATIONAL ASSOCIATION
	

 	
 	

By:	
 	

	 	 	Name:	 	 
	 	 	Title:	 	 
	

 	
 	

WELLS FARGO BANK, N.A.
	

 	
 	

By:	
 	

	 	 	Name:	 	 
	 	 	Title:	 	 
	

 	
 	

NATIONAL CITY BANK OF PENNSYLVANIA
	

 	
 	

By:	
 	

	 	 	Name:	 	 
	 	 	Title:	 	 
	

 	
 	

NATIONAL BANK OF SOUTH CAROLINA
	

 	
 	

By:	
 	

	 	 	Name:	 	 
	 	 	Title:	 	 
	

 	
 	

CAROLINA FIRST BANK
	

 	
 	

By:	
 	

	 	 	Name:	 	 
	 	 	Title:	 	 

[Signature Pages Continue] 

	 	 	FIRST TENNESSEE BANK NATIONAL ASSOCIATION
	

 	
 	

By:	
 	

	 	 	Name:	 	 
	 	 	Title:	 	 
	

 	
 	

BRANCH BANKING AND TRUST COMPANY
	

 	
 	

By:	
 	

	 	 	Name:	 	 
	 	 	Title:	 	 
	

 	
 	

TEXAS CAPITAL BANK, NA
	

 	
 	

By:	
 	

	 	 	Name:	 	 
	 	 	Title:	 	 

QuickLinks

Exhibit 10.1(b)

FIRST AMENDMENT

[Signature Pages Follow]

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