Advance America, Cash Advance Centers (AEA) 8-K Departure of Directors or Certain Officers

Exhibit 10.1

Description of 2009 Cash Bonus Arrangements for Named Executive Officers

· Each named executive will be entitled to receive a cash bonus for 2009 equal to a target percentage of that executive’s base salary.

· The maximum bonus for our chief executive officer will be 120% of his base salary.

· The maximum bonus for our chief financial officer will be 100% of his base salary.

· One half of the bonus will be based upon the Company’s overall financial performance, as measured by the Company’s fully diluted earnings per share for fiscal year 2009.

· One half of the bonus will be based upon each executive’s individual performance, as measured by factors the Compensation Committee may deem appropriate.

· The overall maximum bonus percentages also may be increased or reduced based on the Company’s financial performance.