Common Contracts

JPMorgan Chase Bank, National Association London EC4Y 0JP England

Call Option Transaction • October 6th, 2005 • Encore Capital Group Inc • Short-term business credit institutions

• Contract Type
  Call Option Transaction
• Filed
  October 6th, 2005
• Company
  Encore Capital Group Inc
• Industry
  Short-term business credit institutions

The definitions and provisions contained in the 1996 ISDA Equity Derivatives Definitions (the “Equity Definitions”), as published by the International Swaps and Derivatives Association, Inc., are incorporated into this Confirmation. In the event of any inconsistency between the Equity Definitions and this Confirmation, this Confirmation shall govern. Certain defined terms used herein have the meanings assigned to them in the Offering Memorandum dated September 13, 2005 (the “Offering Memorandum”) relating to the USD 90,000,000 principal amount of Senior Convertible Notes due September 19, 2010, (the “Initial Convertible Notes” and each USD 1,000 principal amount of Initial Convertible Notes, an “Initial Convertible Note”) and additional USD 10,000,000 principal amount of Senior Convertible Notes due September 19, 2010 issued pursuant an over-allotment option granted by the Counterparty to the Initial Purchasers of the Initial Convertible Notes (“Additional Convertible Notes” and each U

To: Encore Capital Group, Inc. San Diego, CA 92123 Attention: Paul Grinberg Telephone No.: (858) 309-6957 Facsimile No.: (858) 309-6977

Call Option Transaction • September 22nd, 2005 • Encore Capital Group Inc • Short-term business credit institutions • New York

• Contract Type
  Call Option Transaction
• Filed
  September 22nd, 2005
• Company
  Encore Capital Group Inc
• Industry
  Short-term business credit institutions
• Jurisdiction
  New York

The purpose of this letter agreement is to confirm the terms and conditions of the Transaction entered into between JPMorgan Chase Bank, National Association, London Branch, and Encore Capital Group, Inc., a Delaware corporation (“Counterparty”), on the Trade Date specified below (the “Transaction”). This letter agreement constitutes a “Confirmation” as referred to in the ISDA Master Agreement specified below. This Confirmation shall replace any previous letter and serve as the final documentation for this Transaction.