First Amendment to Auto Loan Purchase and Sale Agreement between E-LOAN, Inc. and AmeriCredit Financial Services, Inc.

Summary

This amendment updates the original Auto Loan Purchase and Sale Agreement between E-LOAN, Inc. and AmeriCredit Financial Services, Inc. Effective January 1, 2001, AmeriCredit will pay E-LOAN a flat fee per booked loan until June 30, 2001, instead of a variable fee based on loan closure rates. After June 30, 2001, the original closure-based fee schedule will resume. All other terms of the original agreement remain unchanged.

EX-10.1 2 c20960_ex10-1.txt AMENDMENT TO AUTO LOAN Exhibit 10.1 AMENDMENT TO AUTO LOAN PURCHASE AND SALE AGREEMENT THIS FIRST AMENDMENT ("Amendment') to the AUTO LOAN PURCHASE AND SALE AGREEMENT ("Agreement") dated and effective June 5, 2000 by and between E-LOAN, Inc. ("E-LOAN") and AmeriCredit Financial Services, Inc. ("AmeriCredit") is entered into and effective this 1st of January, 2001: FOR GOOD AND VALUABLE CONSIDERATION the receipt and sufficiency of which is expressly acknowledged by the parties hereto, E-LOAN and AmeriCredit agree as follows: 1. Section 1.5 and Exhibit E of the Agreement provide for payment of an Origination or Referral Fee ("fee") to E-LOAN by AmeriCredit per booked loan in an amount based on loan closure rate (see schedule below). ------------------------------- ---------------------------- Closure Rate Referral Fee ------------------------------- ---------------------------- [*] [*] ------------------------------- ---------------------------- [*] [*] ------------------------------- ---------------------------- [*] [*] ------------------------------- ---------------------------- [*] [*] ------------------------------- ---------------------------- [*] [*] ------------------------------- ---------------------------- 2. From the date of this Amendment until June 30, 2001, AmeriCredit agrees to pay E-LOAN a flat fee of [*] per booked loan with no additional origination or referral fee payment. Beginning July 1, 2001, these flat fee payments shall cease and the closure based pricing scheme outlined above shall resume. The Agreement is hereby modified and amended to incorporate the terms and conditions set forth herein, which shall supersede and prevail over any conflicting terms of the Agreement. Except for this change to provisions related to payment of fees, all of the terms and conditions of the Agreement remain in full force and effect. AMERICREDIT FINANCIAL SERVICES, INC. E-LOAN, Inc. By: /s/ Michael T. Miller By: /s/ Joseph J. Kennedy ---------------------------- ---------------------------- Authorized Signature - Title Authorized Signature - Title Name: Michael T. Miller Name: Joe Kennedy Title: Executive Vice President - Title: President and COO e-Services By: /s/ Matt Roberts ---------------------------- Authorized Signature - Title Name: Matt Roberts Title: Chief Financial Officer