0000950133-02-003553 Sample Contracts

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EXHIBIT 4.2 FORM OF WARRANT Effective as of the date of this Agreement (the "Grant Date"), Portfolio Recovery Associates, Inc. (the "Company") hereby grants to [_________] ("Warrantholder") warrants (the "Warrants") to acquire [_______] shares of the...
Warrant Agreement • October 30th, 2002 • Portfolio Recovery Associates Inc • Services-consumer credit reporting, collection agencies

This Warrant is issued to Warrantholder under and pursuant to the Equity Exchange Agreement between Portfolio Recovery Associates, L.L.C., the Company and the additional parties named therein. The grant of the Warrants has been approved by the sole non-employee director of the Company and by the stockholders of the Company. [Vesting provisions of Warrants to be added.] The Warrants shall cease to be exercisable and shall terminate on [_________] (the "Expiration Date"). The Warrants may be exercised in whole or in part, but not in fractional Shares.

ARTICLE II. REPRESENTATIONS AND WARRANTIES
Equity Exchange Agreement • October 30th, 2002 • Portfolio Recovery Associates Inc • Services-consumer credit reporting, collection agencies • Delaware
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