Common use of Relationship Established Clause in Contracts

Relationship Established. Upon the terms and subject to the conditions of this Agreement, CompuCredit hereby employs Employee to serve as the President of CompuCredit, and, as such, Employee shall perform the executive level services (the "Services") for CompuCredit as delegated to him from time to time by CompuCredit's Chief Executive Officer (or his designee). Employee hereby agrees to devote 100% of his business time, attention, energy and skill exclusively to performing his obligations and duties hereunder and to engage in no business activities other than the performance of his obligations and duties hereunder, except for those specific activities as the CEO of CompuCredit shall approve in advance in writing. Employee shall perform his obligations and duties hereunder diligently, faithfully and to the best of his abilities and, in doing so, shall comply with applicable CompuCredit policies and procedures. During the "Term" (as defined below) Employee shall not, directly or indirectly, make any advance, loan, extension of credit or capital contribution to, or purchase any stocks, bonds or other securities of, or make any investment in, any individual, partnership, corporation, limited liability company, trust, trustee, joint stock company, unincorporated organization, joint venture, association, governmental authority or other entity (each, an "Entity") other than CompuCredit without the prior written consent of the CEO of CompuCredit; PROVIDED, HOWEVER, that Employee shall be permitted to have a direct or indirect equity ownership of no greater than 2% of the equity of an Entity listed on a major U.S. exchange or traded on a NASDAQ over-the-counter market.

Relationship Established. Upon the terms and subject to the conditions of this Agreement, CompuCredit hereby employs Employee to serve as the President Chief Financial Officer of CompuCredit, and, as such, Employee shall perform direct and manage the financial affairs of CompuCredit and shall have such other executive level services (the "Services") for CompuCredit powers and duties as delegated to shall be otherwise conferred on him from time to time by CompuCredit's ’s Board of Directors or Chief Executive Officer consistent with those generally associated with that position (or his designeecollectively, the “Services”). Employee shall perform the Services at the direction of CompuCredit’s Chief Executive Officer. Employee hereby agrees to devote 100% of his business time, attention, energy and skill exclusively to performing his obligations and duties hereunder and to engage in no business activities other than the performance of his obligations and duties hereunder, except for those specific activities as the CEO Chief Executive Officer or Board of Directors of CompuCredit shall approve in advance in writing; provided, however, that nothing herein contained shall restrict or prevent Employee from personally and for his own account owning and dealing in stocks, bonds, securities, real estate, commodities, or other investment properties for his own benefit or the benefit of his family. Further, nothing herein contained shall restrict or prevent Employee from serving on the Board of Directors of a non-profit entity or any entity that the Chief Executive Officer approves of in writing. Employee shall perform his obligations and duties hereunder diligently, faithfully and to the best of his abilities and, in doing so, shall comply with applicable CompuCredit policies and procedures. During the "Term" (as defined below) Employee If there is any conflict between such policies and procedures and this Agreement, this Agreement shall not, directly or indirectly, make any advance, loan, extension of credit or capital contribution to, or purchase any stocks, bonds or other securities of, or make any investment in, any individual, partnership, corporation, limited liability company, trust, trustee, joint stock company, unincorporated organization, joint venture, association, governmental authority or other entity (each, an "Entity") other than CompuCredit without the prior written consent of the CEO of CompuCredit; PROVIDED, HOWEVER, that Employee shall be permitted to have a direct or indirect equity ownership of no greater than 2% of the equity of an Entity listed on a major U.S. exchange or traded on a NASDAQ over-the-counter marketcontrol.