April 9, 2008Employment Agreement • April 15th, 2008 • Compucredit Corp • Personal credit institutions • Georgia
In accordance with Section 18 of your Employment Agreement (the “Employment Agreement”), dated January 3, 2007, with CompuCredit Corporation (the “Company”), this letter amends the provisions governing your target bonus for the 2008 fiscal year (the “2008 Target Bonus”) contained in Section 3(b) of the Employment Agreement. In lieu of the 2008 Target Bonus, the Company will grant you the stock option award provided in Exhibit A hereto (the “Stock Option”). In addition, in the event that the Company pays any cash dividends prior to the expiration or earlier exercise of the Stock Option, you will be entitled to receive a cash bonus in an amount equal to the product of the number of shares subject to the Stock Option at the time of such dividend payment multiplied by the per share amount of such dividend.
