Document:

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                                  EXHIBIT 10.1

                  HISPANIC EXPRESS, INC. 2000 STOCK OPTION PLAN

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                             2000 STOCK OPTION PLAN

                                       OF

                             HISPANIC EXPRESS, INC.

1.      Purpose. The purpose of this Stock Option Plan is to advance the
        interests of the Corporation by encouraging and enabling the acquisition
        of a larger personal proprietary interest in the Corporation by key
        employees and directors of and consultants to, the Corporation, its
        Parent and its Subsidiaries upon whose judgment and keen interest the
        Corporation is largely dependent for the successful conduct of its
        operations and by providing such key employees, directors and
        consultants with incentives to put forth maximum efforts for the success
        of the Corporation's business. It is anticipated that the acquisition of
        such proprietary interest in the Corporation and such incentives will
        stimulate the efforts of such key employees, directors and consultants
        on behalf of the Corporation, its Parent and its Subsidiaries and
        strengthen their desire to remain with the Corporation and its
        Subsidiaries. It is also expected that such incentives and the
        opportunity to acquire such proprietary interest will enable the
        Corporation, its Parent and its Subsidiaries to attract desirable
        personnel.

2.      Definitions. When used in this Plan, unless the context otherwise
        requires:

        (a)    "Board of Directors" or "Board" shall mean the Board of Directors
               of the Corporation, as constituted at any time.

        (b)    "Chairman of the Board" shall mean the person who at the time
               shall be Chairman of the Board of Directors.

        (c)    "Code" shall mean the Internal Revenue Code of 1986, as amended.

        (d)    "Committee" shall mean the Committee hereinafter described in
               Section 3.

        (e)    "Consummation Date" shall mean the date of the consummation of
               the distribution of the Corporation's stock in the liquidation
               and dissolution of Central Financial Acceptance Corporation, a
               Delaware corporation.

        (f)    "Corporation" shall mean Hispanic Express, Inc., a Delaware
               corporation.

        (g)    "Eligible Persons" shall mean those persons described in Section
               4 who are potential recipients of Options.

        (h)    "Fair Market Value" on a specified date shall mean (i) the
               average of the high and low sales prices at which a Share is
               traded on the stock exchange, if any, on which Shares are
               primarily traded on such specified date or, (ii) if the Shares
               are not then traded on a stock exchange, the average of the high
               and low sales prices of a Share as reported on Nasdaq Stock
               Market's National Market on such specified date or, (iii) if the
               Shares are not then traded on an exchange or the Nasdaq Stock
               Market's National Market, the average of the high and low sales
               prices at which a

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               Share is traded on the over-the-counter market on such specified
               date, but in the case of each of subparagraphs (i), (ii) and
               (iii) if no Shares were traded on such date, then on the last
               previous date on which a Share was so traded, or, if none of the
               above are applicable, the value of a Share as established by the
               Committee for such date using any reasonable method of valuation.

        (i)    "Listing Date" shall mean the first date upon which any security
               of the Corporation listed (or approved for listing) upon notice
               of issuance of any securities exchange or designated (or approved
               for designation) upon notice of issuance as a national market
               security on an interdealer quotation system if such securities
               exchange or interdealer quotation system has been certified in
               accordance with the provisions of Section 25100(o) of the
               California Corporate Securities Law of 1968.

        (j)    "Options" shall mean the Stock Options granted pursuant to this
               Plan.

        (k)    "Parent" shall mean a corporation (other than the Corporation)
               owning 50% or more of stock having general voting power of the
               Corporation.

        (l)    "Plan" shall mean this 2000 Stock Option Plan of Hispanic
               Express, Inc., as adopted by the Board of Directors as of
               September 6, 2000, and approved by stockholders as of September
               29, 2000, as such Plan from time to time may be amended.

        (m)    "President" shall mean the person who at the time shall be the
               President of the Corporation.

        (n)    "Share" shall mean a share of common stock of the Corporation

        (o)    "Subsidiary" shall mean any corporation 50% or more of whose
               stock having general voting power is owned by the Corporation, or
               by another Subsidiary, or by the Parent, as herein defined, of
               the Corporation.

        (p)    "Ten Percent Stockholder" shall mean the meaning ascribed in
               Section 9.

3.      Committee. The Plan shall be administered by the Board of Directors or a
        Committee appointed by the Board of Directors; provided, however, that
        the Plan or a portion thereof shall be administered by a Committee which
        shall consist of two or more directors of the Corporation, each of whom
        shall be a "nonemployee director" within the meaning of Rule 16b-3(c)(2)
        under the Securities Exchange Act of 1932, as amended from time to time
        (the "Exchange Act"), and an "outside director" within the meaning of
        Section 162(m) of the Code and the regulations promulgated thereunder.
        During such time as the Plan or any portion thereof is administered by
        the Board of Directors, all references herein to the Committee shall be
        deemed to refer to the Board of Directors.

4.      Participants. All key employees and directors of, and consultants to,
        the Corporation, the Parent or a Subsidiary, as determined by the
        Committee, shall be eligible to receive Options under the Plan. The
        parties to whom Options are granted under this Plan, and the

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        number of Shares subject to each such Option, shall be determined by the
        Committee in its sole discretion, subject, however, to the terms and
        conditions of this Plan. Except for key employees, parties to whom
        Options are granted shall receive financial statements of the
        Corporation at least annually.

5.      Shares. Subject to the provisions of Section 15 hereof, the Committee
        may grant Options with respect to an aggregate of up to 1,100,000
        Shares, all of which Shares may be either Shares held in treasury or
        authorized but unissued Shares. The maximum number of Shares which may
        be the subject of Options granted to any individual in any calendar year
        during the duration of the Plan shall not exceed 550,000 Shares. If the
        Shares that would be issued or transferred pursuant to any Option are
        not issued or transferred and cease to be issuable or transferable for
        any reason, the number of Shares subject to such Option will no longer
        be charged against the limitation provided for herein and may again be
        made subject to Options; provided, that the counting of Shares subject
        to Options granted under the Plan against the number of Shares available
        for further Options shall in all cases conform to the requirements of
        Rule 16b-3 under the Exchange Act; and provided, further, that with
        respect to any Option granted to any Eligible Person who is a "covered
        employee" as defined in Section 162(m) of the Code and the regulations
        promulgated thereunder that is canceled or repriced, the number of
        Shares subject to such Option shall continue to count against the
        maximum number of Shares which may be the subject of Options granted to
        such Eligible Person and such maximum number of Shares shall be
        determined in accordance with Section 162(m) of the Code and the
        regulations promulgated.

6.      Grant of Options. The number of any Options to be granted to any
        Eligible Person shall be determined by the Committee in its sole
        discretion. At the time an Option is granted, the Committee may, in its
        sole discretion, designate whether such Option (a) is to be considered
        as an incentive stock option within the meaning of Section 422 of the
        Code, or (b) is not to be treated as an incentive stock option for
        purposes of this Plan and the Code. No Option which is intended to
        qualify as an incentive stock option shall be granted under this Plan to
        any individual who, at the time of such grant, is not an employee of the
        Corporation, the Parent, or a Subsidiary.

        Notwithstanding any other provision of this Plan to the contrary, to the
        extent that the aggregate Fair Market Value (determined as of the date
        an Option is granted) of the Shares with respect to which Options which
        are designated as (or deemed to be) incentive stock options granted to
        an employee (and any incentive stock options granted to such employee
        under any other incentive stock option plan maintained by the
        Corporation, the Parent or any Subsidiary that meets the requirements of
        Section 422 of the Code) first become exercisable in any calendar year
        exceeds $100,000, such Options shall be treated as Options which are not
        incentive stock options. Options with respect to which no designation is
        made by the Committee shall be deemed to be incentive stock options to
        the extent that the $100,000 limitation described in the preceding
        sentence is met. This paragraph shall be applied by taking Options into
        account in the order in which they are granted. An employee may
        designate in writing to the Committee whether the employee is exercising
        an incentive stock option or a nonqualified stock option and, in the
        absence

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        of such written designation, the employee shall be deemed to exercise
        the incentive stock options first to the extent thereof.

        Nothing herein contained shall be construed to prohibit the issuance of
        Options at different times to the same person.

        The form of an Option shall be determined from time to time by the
        Committee.

7.      Purchase Price. The purchase price per Share for the Shares purchased
        pursuant to the exercise of an Option shall be fixed by the Committee at
        the time of grant of the Option; provided, however, that the purchase
        price per Share for the Shares to be purchased pursuant to the exercise
        of an incentive stock option shall not in any event be less than 100% of
        the Fair Market Value of a Share on the date of grant of the Option. For
        purposes of Treasury Regulations Section 1.162-27(e)(vi), the amount of
        compensation an optionee can receive as a result of a grant of an option
        is based solely on an increase in the value of Shares after the date of
        the option grant. Notwithstanding the foregoing, an Option may be
        granted with an exercise price lower than that set forth in the
        preceding sentence if such Option is granted pursuant to an assumption
        or substitution for another option in a manner satisfying the provisions
        of Section 424(a) of the Code.

8.      Duration of Options. The duration of each Option shall be determined by
        the Committee at the time of grant; provided, however, that the duration
        of any Option shall not be more than ten (10) years from the date upon
        which the Option is granted.

9.      Ten Percent Stockholders. Notwithstanding any other provision of this
        Plan to the contrary, no incentive stock option may be granted under
        this Plan to an Eligible Person who, at the time the Option is granted,
        owns stock possessing more than 10 percent of the total combined voting
        power or value of all classes of stock of the Corporation or a Parent or
        Subsidiary (a "Ten Percent Stockholder"), unless the exercise price
        under such Option is at least 110% of the Fair Market Value of a Share
        on the date such Option is granted and, if the Option is intended to
        qualify as an incentive option, the duration of such Option is no more
        than five years. Prior to the Listing Date, no Ten Percent Stockholder
        shall be eligible for the grant of a nonqualified stock option unless
        the exercise price of such option is at least one hundred ten percent
        (110%) of the Fair Market Value of a Share at the date of grant.

10.     Exercise of Options. Except as otherwise provided herein, Options, after
        the grant thereof, shall be exercisable by the holder at such rate,
        times and subject to such conditions as may be fixed by the Committee at
        the time of grant, provided, however, that Options granted prior to the
        Listing Date shall provide that the rate of exercise shall be at least
        twenty percent (20%) per year over five (5) years from the date the
        Options are granted, subject to reasonable conditions such as continued
        employment. Notwithstanding the foregoing, all or any part of any
        remaining unexercised Options granted to any person may be exercised in
        the following circumstances (but in no event during the six-month period
        commencing on the date granted): (a) subject to the provisions of
        Section 13 hereof, immediately upon (but prior to the expiration of the
        term of the Option) the holder's retirement from the Corporation, the
        Parent and all

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        Subsidiaries on or after his 65th birthday, (b) subject to the
        provisions of Section 13 hereof, upon the disability (to the extent and
        in a manner as shall be determined by the Committee in its sole
        discretion) or death of the holder, (c) upon a Change of Control (as
        hereinafter defined) while the holder is in the employ or service of the
        Corporation, the Parent or Subsidiary or (d) upon the occurrence of such
        special circumstance or event as in the opinion of the Committee merits
        special consideration; provided, however, that the estate of the
        deceased holder of an Option may exercise it prior to the expiration of
        the six-month period described above.

        For purposes of the Plan, a "Change of Control" shall be deemed to occur
        if (x) both (i) any "person" or group of "persons" (as the term "person"
        is used in Sections 13(d) and 14(d) of the Exchange Act) ("Persons"),
        acquires (or has acquired during the twelve-month period ending on the
        date of the most recent acquisition by such Person) direct or indirect
        beneficial ownership of securities of the Corporation representing 40%
        or more of the combined voting power of the then outstanding securities
        of the Corporation and (ii) on the date of the most recent acquisition
        by any Person referred to in the preceding clause (i), the direct and
        indirect beneficial ownership by West Coast Private Equity Partners,
        L.P. of the securities of the Corporation represents in the aggregate
        less than 40% of the combined voting power of the then outstanding
        securities of the Corporation or (y) a Person acquires (or has acquired
        during the twelve-month period ending on the date of the most recent
        acquisition by such Person) assets from the Corporation that have a
        total fair market value equal to or more than one-third of the total
        fair market value of all of the assets of the Corporation immediately
        prior to such acquisition; provided, however, that in the case of both
        subparagraphs (x) and (y) if any transaction or event or series of
        transactions or events resulting in a Change in Control is approved by a
        majority of the members of the Board of Directors holding office prior
        to the transaction or event or series of transactions or events, then
        the transaction or event or series of transactions or events shall not
        be deemed to be a Change in Control.

        Notwithstanding the foregoing, for purposes of subsection (x), a Change
        of Control will not be deemed to have occurred if the power to control
        (directly or indirectly) the management and policies of the Corporation
        is not transferred from a Person to another Person; and, for purposes of
        subsection (y), a Change in Control will not be deemed to occur if the
        assets of the Corporation are transferred: (i) to a shareholder in
        exchange for his stock (ii) to an entity in which the Corporation has
        (directly or indirectly) 50% ownership, or (iii) to a Person that has
        (directly or indirectly) at least 50% ownership of the Corporation with
        respect to its stock outstanding, or to any entity in which such Person
        possesses (directly or indirectly) 50% ownership.

        An Option shall be exercised by the delivery of a written notice duly
        signed by the holder thereof to such effect ("Exercise Notice"),
        together with the Option certificate and the full purchase price of the
        Shares purchased pursuant to the exercise of the Option, to the Chairman
        of the Board or an officer of the Corporation appointed by the Chairman
        of the Board for the purpose of receiving the same. At the discretion of
        the Committee, payment of the full purchase price shall be made as
        follows: in cash or by check payable to the order of the Corporation; by
        delivery to the Corporation of Shares which shall be valued at their
        Fair Market Value on the date of exercise of the Option (provided, that
        a

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        holder may not use any Shares acquired pursuant to this Plan or any
        other plan maintained by the Company or a Subsidiary unless the holder
        has beneficially owned such Shares for at least six months); by a
        combination of the methods of payment previously described; or by such
        other method of payment as the Committee in its discretion may permit.

        Within a reasonable time after the exercise of an Option, the
        Corporation shall cause to be delivered to the person entitled thereto,
        a certificate for the Shares purchased pursuant to the exercise of the
        Option. If the Option shall have been exercised with respect to less
        than all of the Shares subject to the Option, the Corporation shall also
        cause to be delivered to the person entitled thereto a new Option
        certificate in replacement of the certificate surrendered at the time of
        the exercise of the Option, indicating the number of Shares with respect
        to which the Option remains available for exercise, or the original
        Option certificate shall be endorsed to give effect to the partial
        exercise thereof.

        Notwithstanding any other provision of the Plan or of any Option, no
        Option granted pursuant to the Plan may be exercised at any time when
        the Option or the granting or exercise thereof violates any law or
        governmental order or regulation.

11.     Consideration for Options. The Corporation shall obtain such
        consideration for the grant of an Option as the Committee in its
        discretion may determine.

12.     Non-transferability of Options. Options and all other rights thereunder
        shall be non-transferable or non-assignable by the holder thereof except
        by will, the laws of descent and distribution, by instrument to an inter
        vivos or testamentary trust in which the Options are to be passed to
        beneficiaries upon the death of the trustor (settlor), or by gift to
        "immediate family" as defined in 17 C.F.R 240.16a-1(e). Options may be
        exercised or surrendered during the holder's lifetime only by the holder
        thereof.

13.     Termination of Employment or Service. All or any part of any Option, to
        the extent unexercised, shall terminate immediately, upon the cessation
        or termination for any reason of the holder's employment by, or service
        with, the Corporation, the Parent or any Subsidiary, except that the
        holder shall have until the end of the thirtieth day following the
        cessation of his employment or service with the Corporation, the Parent
        or its Subsidiaries, and no longer, to exercise any unexercised Option
        that he could have exercised on the day on which such employment or
        service terminated; provided, that such exercise must be accomplished
        prior to expiration of the term of such Option. Notwithstanding the
        foregoing, if the cessation of employment or service is due to
        retirement on or after attaining the age of sixty-five (65) years, or to
        disability within the meaning of Section 22(e)(3) of the Code (as shall
        be determined in each case by the Committee in its sole discretion,
        which determination shall be conclusive) or to death, the holder, a
        permitted transferee or the representative of the estate of a deceased
        holder shall have the privilege of exercising the Options which are
        unexercised at the time of such retirement, or of such disability or
        death; provided, however, that such exercise must be accomplished prior
        to the expiration of the term of such Option and (a) within three months
        of the holder's retirement or (b) within one year of the holder's
        disability or death, as the case may be. If the employment or service of
        any holder of an Option with

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        the Corporation, the Parent or a Subsidiary shall be terminated because
        of the holder's violation of the duties of such employment or service
        with the Corporation, the Parent or a Subsidiary as he may from time to
        time have, the existence of which violation shall be determined by the
        Committee in its sole discretion (which determination by the Committee
        shall be conclusive) all unexercised Options of such holder shall
        terminate immediately upon such termination of the holder's employment
        or service with the Corporation, the Parent and all Subsidiaries, and a
        holder of Options whose employment or service with the Corporation, the
        Parent and any Subsidiaries is so terminated, shall have no right after
        such termination to exercise any unexercised Option he might have
        exercised prior to the termination his employment or service with the
        Corporation, the Parent and Subsidiaries.

14.     Adjustment Provision. If prior to the complete exercise of any Option
        there shall be declared and paid a stock dividend upon the Shares or if
        the Shares shall be split up, combined, converted, exchanged,
        reclassified, or in any way substituted for, then the Option, to the
        extent that it has not been exercised, shall entitle the holder thereof
        upon the future exercise of the Option to such number and kind of
        securities or cash or other property subject to the terms of the Option
        to which he would have been entitled had he actually owned the Shares
        subject to the unexercised portion of the Option at the time of the
        occurrence of such stock dividend, split up, combination, conversion,
        exchange, reclassification or substitution and the aggregate purchase
        price upon the future exercise of the Option shall be the same as if the
        originally optioned Shares were being purchased thereunder.

        Any fractional shares or securities issuable upon the exercise of the
        Option as a result of such adjustment shall be payable in cash based
        upon the Fair Market Value of such shares or securities at the time of
        such exercise. If any such event should occur, the number of Shares with
        respect to which Options remain to be issued, or with respect to which
        Options may be reissued, shall be adjusted in a similar manner.

        Notwithstanding any other provision of the Plan, in the event of a
        recapitalization, merger, consolidation, rights offering, separation,
        reorganization or liquidation, or any other change in the corporate
        structure or outstanding shares, the Committee may make such equitable
        adjustments to the number of Shares and the class of shares available
        hereunder or to any outstanding Options as it shall deem appropriate to
        prevent dilution or enlargement of rights.

15.     Issuance of Shares and Compliance with Securities Act. The Corporation
        may postpone the issuance and delivery of Shares pursuant to the grant
        or exercise of any Option until (a) the admission of such Shares to
        listing on any stock exchange on which Shares of the Corporation of the
        same class are then listed, and (b) the completion of such registration
        or other qualification of such Shares under any State or Federal law,
        rule or regulation as the Corporation shall determine to be necessary or
        advisable. Any holder of an Option shall make such representations and
        furnish such information as may, in the opinion of counsel for the
        Corporation, be appropriate to permit the Corporation, in the light of
        the then existence or non-existence with respect to such Shares of an
        effective Registration Statement under the Securities Act of 1933, as
        from time to time amended (the

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        "Securities Act"), to issue the Shares in compliance with the provisions
        of the Securities Act or any comparable act. The Corporation shall have
        the right, in its sole discretion, to legend any Shares which may be
        issued pursuant to the grant or exercise of any Option, or may issue
        stop transfer orders in respect thereof.

16.     Income Tax Withholding. If the Corporation, the Parent or a Subsidiary
        shall be required to withhold any amounts by reason of any federal,
        State or local tax rules or regulations in respect of the issuance of
        Shares pursuant to the exercise of any Option, the Corporation, the
        Parent or the Subsidiary shall be entitled to deduct and withhold such
        amounts from any cash payments to be made to the holder of such Option.
        In any event, the holder shall make available to the Corporation, the
        Parent or Subsidiary, promptly when requested by the Corporation, the
        Parent or such Subsidiary, sufficient funds to meet the requirements of
        such withholding; and the Corporation, the Parent or Subsidiary shall be
        entitled to take and authorize such steps as it may deem advisable in
        order to have such funds made available to the Corporation, the Parent
        or Subsidiary out of any funds or property due or to become due to the
        holder of such Option.

17.     Administration and Amendment of the Plan. Subject to any stockholder
        approval required by law, the Board of Directors or the Committee may at
        any time withdraw or from time to time amend the Plan as it relates to,
        and the terms and conditions of, any Option not theretofore granted, and
        the Board of Directors or the Committee, with the consent of the
        affected holder of an Option, may at any time withdraw or from time to
        time amend the Plan as it relates to, and the terms and conditions of,
        any outstanding Option.

        Determination of the Committee as to any question which may arise with
        respect to the interpretation of the provisions of the Plan and Options
        shall be final. The Committee may authorize and establish such rules,
        regulations and revisions thereof not inconsistent with the provisions
        of the Plan, as it may deem advisable to make the Plan and Options
        effective or provide for their administration, and may take such other
        action with regard to the Plan and Options as it shall deem desirable to
        effectuate their purpose.

        The Plan is intended to comply with Rule 16b-3 under the Exchange Act.
        Any provision inconsistent with such Rule shall be inoperative and shall
        not affect the validity of the Plan.

18.     No Right of Employment or Service. Nothing contained herein or in an
        Option shall be construed to confer on any employee, consultant or
        director any right to be continued in the employ or service of the
        Corporation, the Parent or any Subsidiary or derogate from any right of
        the Corporation, the Parent and any Subsidiary to retire, request the
        resignation of or discharge or otherwise cease its service arrangement
        with any employee, consultant or director (without or with pay), at any
        time, with or without cause.

19.     Final Issuance Date. No Option shall be granted under the Plan, and this
        Plan shall terminate, on the earlier of ten years after the date of
        adoption of the Plan by the Board or approval of the Plan by the
        stockholders of the Corporation.<PAGE>   1

                                  EXHIBIT 10.2

                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

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                    CENTRAL FINANCIAL ACCEPTANCE CORPORATION

                  SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP)

1.      PURPOSE: The purpose of this Plan is to provide key executives with an
        incentive to become or remain long-term employees of the Company. This
        Plan is intended to be a "top-hat" plan within the meaning of Sections
        201(2), 301(a)(3), 401(a)(1) and 4021(b)(6) of the Employee Retirement
        Income Security Act of 1974, as amended.

2.      DEFINITIONS: As used in this Plan, the following terms shall have the
        meanings set forth below, unless the context require otherwise:

        (a)    "ACCRUED BENEFIT" shall mean a Participant's Target Benefit Level
               adjusted by: (I) multiplying it by a fraction not to exceed one,
               the numerator of which is the Participant's active Years of
               Service and the denominator of which is the Years of Service the
               Participant would have had at his Normal Retirement Date if he
               continued in employment with the Company until such date; and,
               (ii) reducing it by the annuity value (as determined by an
               actuary who is elected by the Board of Directors) of the
               Participant's Profit Sharing Plan Account.

        (b)    "ACTUARIAL EQUIVALENT" shall mean equality in value of the
               aggregate sums expected to be received under the form of payment
               under the Plan, or equality in value of the same form of payment
               under the Plan if payments begin as of a different date, or both,
               determined in each case by actuarial assumptions determined by an
               actuary who is selected by the Board of Directors.

        (c)    "AFFILIATE" shall mean (i) the Company; (ii) any corporation of
               which the Company or any other Affiliate owns more than 50% of
               the outstanding shares; or, (iii) any corporation which owns more
               than 50% of the outstanding shares of the Company or any other
               Affiliate.

        (d)    "ADJUSTMENT OF NORMAL RETIREMENT BENEFITS" shall mean the amount
               of Normal Retirement Benefits of a Participant defined under
               Section (5) shall, subsequent to the commencement of payment
               thereof, be increased as of January 1, of each calendar year
               beginning January 1, 1997 by an amount equal to the change in the
               cost of living index, as previously determined by the Board of
               Directors, but in no event can exceed 6%.

        (e)    "BOARD OF DIRECTORS" shall mean the Board of Directors of the
               Company.

        (f)    "COMPANY" shall mean Central Financial Acceptance Corporation, a
               Delaware corporation, and any successor thereto.

        (g)    "COMPENSATION" shall mean the Participant's fixed salary or base
               pay which is to the Participant in consideration for his personal
               services actually rendered to the Company, including any amount
               contributed by the Company pursuant to a salary reduction
               agreement which is not includible in the gross income of the
               Participant under Section 125 or 402(e)(3) of the Internal
               Revenue Code of 1986, as

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               amended, and any bonuses accrued or paid by the Company with
               respect to such Participant.

        (h)    "EFFECTIVE DATE" shall mean June 24, 1996.

        (i)    "EMPLOYEE" shall mean any key employee on the payroll of the
               Company whose wages are subject to withholding for Federal income
               tax purposes.

        (j)    "FINAL AVERAGE COMPENSATION" shall mean the average monthly
               Compensation earned by a Participant during those 36 consecutive
               calendar months out of the last 60 calendar months preceding the
               Participant's termination of employment with the Company which
               produces the highest monthly average.

        (k)    "NORMAL RETIREMENT DATE" shall mean the first day of the month
               following the date the Participant attains his 60th birthday.

        (l)    "PARTICIPANT" shall mean each Employee who is eligible to
               participate in the Plan in accordance with the provisions of
               Section 3.

        (m)    "PLAN" shall mean the Central Financial Acceptance Corporation
               Supplemental Executive Retirement Plan (SERP), as embodied herein
               and as amended from time to time.

        (n)    "POST-EFFECTIVE DATE YEAR OF SERVICE" shall mean each Year of
               Service completed after the Effective Date.

        (o)    "PROFIT SHARING PLAN ACCOUNT" shall mean a Participant's Company
               contribution account, including earnings thereon, under the
               Banner's, a California corporation, dba Central Electric Profit
               Sharing Plan and any successor plan thereto.

        (p)    "SURVIVING SPOUSE" shall mean the person determined in accordance
               with Section 8.

        (q)    "TARGET BENEFIT LEVEL" shall mean a monthly benefit beginning at
               the Participant's Normal Retirement Date, equal to a percentage
               designated by the Board of Directors of a Participant's final
               Average Compensation, but in no event more than 60% of the
               Participant's Final Average Compensation.

        (r)    "YEAR OF SERVICE" shall mean each twelve consecutive month period
               or fraction thereof (to the nearest whole month) beginning with
               the date the Participant is hired by the Company or its
               Affiliates (whether competed before or after the Effective Date
               and before or after the Employee becomes a Participant in this
               Plan).

3.      ELIGIBILITY: The Board of Directors shall designate, from time to time,
        the Employees who are eligible to participate in the Plan. An Employee
        shall cease to be a Participant in the Plan upon his termination of
        employment.

<PAGE>   4

4.      BENEFIT AGREEMENT: Upon his designation, each Participant shall enter
        into a written agreement (the "Agreement") with the Company, which shall
        be executed for the Company by the Chairman of the Board of Directors or
        the President, and which shall include the Target Benefit Level and such
        other terms as the Board of Directors my amend the Agreement to provide
        for an increase or decrease of the Target Benefit Level for an eligible
        Employee; provided that any decrease shall apply only to Years of
        Service after the date of such decrease.

5.      NORMAL RETIREMENT BENEFIT: If a Participant terminates his employment
        with the Company on or after his Normal Retirement Date and after having
        completed at least ten Years of Service (at least five of which are
        Post-Effective Date Years of Service), he shall be entitled to receive a
        benefit in a monthly amount equal to his Accrued Benefit, or the
        Actuarial Equivalent of such Accrued Benefit if the Participant's
        termination of employment occurs after his Normal Retirement Date or the
        first day of the month following the Participant's termination of
        employment.

6.      DEATH BENEFITS: In the event a Participant dies after completing at
        least ten Years of Service (at least five of which are Post-effective
        Date Years of Service), while either an Employee or after having retired
        under Section 5 or having terminated employment under Section 7, but
        before having received any payment of his Accrued Benefit and he is
        survived by a Surviving Spouse, the Company shall pay a death benefit to
        his Surviving Souse, in an amount equal to the Actuarial Equivalent of
        the Participant's accrued Benefit as of the date of his death determined
        on the basis of his Final Average Compensation and Years of Service as
        of such date. Such amount shall be paid monthly for the life of the
        Participant's Surviving Souse, commencing as of the first day of the
        month following the Participant's death.

7.      TERMINATION OF EMPLOYMENT: If a Participant's employment with the
        company and its Affiliates is involuntarily terminated (other than by
        reason of death) prior to his Normal Retirement Date, he will receive a
        benefit under the Plan, provided he completed at least ten years of
        Service (at least five of which are Post-effective Date Years of
        Service). The benefit payable pursuant to this Section 7 shall be a
        monthly amount equal to the Participant's Accrued Benefit determined on
        the basis of his Final Average Compensation and Years of Service as of
        the date of his termination of employment and shall be paid monthly in
        the form of a straight life annuity for the Participant's life,
        commencing on the Participant's Normal Retirement Date. Notwithstanding
        the preceding, a Participant shall not be entitled to any benefits under
        the Plan if his employment with the Company and its Affiliates is
        terminated for "cause". For purposes of this Plan, a Participant shall
        be terminated for "cause" if his employment is terminated because the
        Participant is convicted of (i) fraud, misappropriation of funds or
        property of the Company or its Affiliates for his own use; or, (ii)
        embezzlement of the property of the Company or its Affiliates or a
        material and intentional breach by the Participant of the provisions of
        his employment.

8.      SURVIVING SPOUSE: Any amount payable pursuant to this Plan upon the
        death of a Participant shall be payable to the spouse, if any, to whom
        the Participant was married at the time of his death.

<PAGE>   5

9.      FUNDING: Benefits under this Plan shall be unfunded, shall be payable
        out of the general assets of the Company, and no special or separate
        fund shall be established to assure payment of such amounts. No
        Participant or Surviving Souse shall have any rights under the terms of
        the Plan or a Benefit Agreement greater than the rights of an unsecured
        general creditor of the Company.

10.     OTHER RETIREMENT BENEFITS: The benefits and payments provided under this
        Plan are independent of any and all retirement benefits provided to the
        participant from any other source, except that in determining the amount
        of the Participant's Accrued Benefit pursuant to Section 2(a), the value
        of the Participant's Profit Sharing Plan Account shall be taken into
        account as provided in Section 2(a).

11.     INCAPACITY: In the event that the Board of Directors determines that the
        Participant or his Surviving Spouse is unable to care for his affairs
        due to any physical or mental condition, any payment due the Participant
        or Surviving Spouse under this Plan may be made to his duly appointed
        legal representative. The Board of Directors may, in its discretion,
        make such payment to a child, parent or spouse of such Participant or
        Surviving Spouse or to any other person with whom he resides or who is
        charged with his care. Any such payment so made shall be in complete
        discharge of the liability of the Company under this Plan to each every
        person with respect to the amount so paid.

12.     ASSIGNMENT: The interest in this Plan of a Participant or Surviving
        Spouse shall not be subject to assignment or transfer or otherwise be
        alienable either by voluntary or involuntary acts of such person, or by
        operation of law, nor shall it be subject to attachment, execution,
        garnishment, sequestration or other seizure under any legal, equitable
        or other process. If any Participant or Surviving Spouse shall attempt
        to or shall alienate, sell, transfer, pledge or otherwise encumber any
        amount to which he is or might become entitled, or if by reason of the
        bankruptcy or insolvency of any such person or the issuance of any
        garnishment, writ of execution or other court process, or other event
        happening at any time, any amount otherwise payable hereunder to such
        person should devolve upon anyone other than him or would not be enjoyed
        by him, the Board of Directors, in its absolute discretion, may
        terminate such interest and may hold or apply it to or for the benefit
        of such Participant, or Surviving Spouse, as the case may be, or the
        spouse, children or other dependents of such person, in such manner as
        the Board of Directors may deem proper.

13.     NO EMPLOYMENT CONTRACT: This Plan shall not be construed as creating any
        contract of employment between the Company and the Participant nor shall
        it change any rights or obligations under any existing employment
        contract between the Company and the Participant nor shall it change any
        rights or obligations under any existing employment contract between the
        Company and the Participant. The Company shall have the same right with
        respect to, and control over, its Employees as though this Plan had
        never been executed. Without limitation of the foregoing, any provision
        of an employment agreement with Gary M. Cypres that relates to any
        provision of this Plan shall be deemed to have precedence and amend any
        such provision of this Plan.

14.     COVENANT NOT TO COMPETE: If a Participant shall, during the 12 month
        period immediately following his voluntary termination of employment
        with the Company, engage in "Competition" with the Company (as
        hereinafter defined), within the territories

<PAGE>   6

        in which the Company is actively engaged in the conduct of business
        during the term of employment hereunder including, without limitation,
        the territories in which customers are then being solicited, his benefit
        payments shall be suspended, and he shall be required to return the
        amount of any previous benefits paid to him under this Plan plus any
        interest thereon, as liquidated damages, or if no such payments have
        been made, his benefit under the Plan shall be forfeited.

        (a)    The word "Competition" for purposes of this Section 14 or any
               other provision of this Plan shall mean:

               (i) Engaging in or carrying on, directly or indirectly, either
               for himself or as a member of a partnership or as a stockholder,
               investor, lender, officer or director of a corporation (other
               than the Company), or as an employee or agent of, or consultant
               or advisor to, any person, partnership, corporation, joint
               venture or enterprise (other than the Company), or in any
               capacity on behalf of any trust or other organization or entity,
               any business in competition with (as defined below) any business
               then carried on by the Company as long as any like business is
               carried on by the Company or by any person, corporation,
               partnership, trust or other organization or entity deriving title
               to the good will of such business, directly or indirectly, from
               the Company; provided, however, that nothing herein contained
               shall prevent the Participant from purchasing securities of any
               publicly owned company, the securities of which are listed on
               national securities exchange or registered pursuant to Section
               12(g) of the Securities Exchange Act of 1934, (the "1934 Act")
               but the total holding of such security so listed or registered
               shall be limited to 10% of the amount of any such security
               outstanding. The Participant may make investments, without
               restriction on amount, in non-competitive private businesses. For
               the purpose of this Section 14(b)(i) the term "any business in
               competition with" shall mean any business engaged principally or
               in part in the business of the Company as described in its
               Registration Statement on Form S-1 (Registration No. 333-3790)
               relating to the registration of shares of common stock of the
               Company (the "Registration Statement") and in any other filing
               made after the Effective Date by the Company with the Securities
               and Exchange Commission pursuant to the Securities Act of 1933,
               as amended, or the 1934 Act ("Subsequent Filings"); or

               (ii) soliciting, raiding, enticing, inducing or attempting to
               persuade any person that presently is or is at any time during
               the term of the Participant's employment as an Employee (or, in
               the case of termination, is at the time of termination or within
               the 24-month period thereafter) an employee of the Company to
               become employed by any person, firm, partnership, corporation or
               other enterprise or entity, and the Participant shall not
               approach any such employee for such purposes or authorize the
               taking of such actions by any other person, firm, partnership,
               corporation or other enterprise or entity in taking such action;
               or

               (iii) divulging, furnishing or making accessible to any person,
               corporation, partnership, trust or other organization or entity,
               any information, trade secrets, technical data or know-how
               relating to the business, business practices, methods,

<PAGE>   7

               attorney-client communications, pending or contemplated
               acquisitions or other transactions, products, processes,
               equipment or any confidential or secret aspect of the business of
               the Company without the prior written consent of the Company,
               unless such information shall have become public knowledge or
               shall have become known generally to competitor of the Company
               through sources other than the Participant.

15.     AMENDMENT AND TERMINATION: The Company may amend, terminate or suspend
        this Plan at any time or from time to time by a resolution by the Board
        of Directors; provided, however, that no amendment or termination of the
        plan shall reduce the Accrued Benefit to which any Participant or
        Surviving Spouse is entitled under this Plan by reason of the
        Participant's prior Years of Service or the Participant's death, or
        other termination of employment.

16.     ADMINISTRATION: This Plan shall be administered by the Board of
        Directors. The Board of Directors shall be charged with the operation
        and administration of the Plan. The Board of Directors shall have
        discretionary authority to interpret and construe this Plan and to
        determine all questions arising under this Plan, and to adopt and amend
        from time to time such by-laws and rules and regulations necessary for
        the administration of this plan which are not inconsistent with the
        terms and provisions of this Plan.

17.     BINDING EFFECT: This Plan shall inure to the benefit of and be binding
        upon the Company, its successors and assigns, including without
        limitation any corporation which may acquire all its assets or into
        which the Company may be consolidated or merged, and any Participant,
        his heirs, executors, administrators and legal representatives, provided
        that the obligations of the Participant hereunder may not be delegated.

18.     GOVERNING LAW: This Plan shall be governed by and construed in
        accordance with the laws of the State of California governing contracts
        to be made and performed therein without giving effect to principles of
        conflicts of law, except to the extent such laws have been superseded by
        Federal law.

19.     GENDER AND NUMBER: The masculine pronoun whenever used herein shall
        include the feminine pronoun and the singular number shall include the
        plural number and vice versa unless the context of the Plan requires
        otherwise.

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