<SUBMISSION>
<ACCESSION-NUMBER>0000950134-05-021720
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20051111
<ITEMS>1.01
<ITEMS>9.01
<FILING-DATE>20051116
<DATE-OF-FILING-DATE-CHANGE>20051116
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>ACE CASH EXPRESS INC/TX
<CIK>0000849116
<ASSIGNED-SIC>6099
<IRS-NUMBER>752142963
<STATE-OF-INCORPORATION>TX
<FISCAL-YEAR-END>0630
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-20774
<FILM-NUMBER>051208746
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<BUSINESS-ADDRESS>
<STREET1>1231 GREENWAY DR STE 800
<CITY>IRVING
<STATE>TX
<ZIP>75038
<PHONE>2145505000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>1231 GREENWAY DR #800
<CITY>IRVING
<STATE>TX
<ZIP>75038
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<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>ACE CASH EXPRESS INC
<DATE-CHANGED>19921016
</FORMER-COMPANY>
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<TYPE>8-K
<SEQUENCE>1
<FILENAME>d30525e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
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</HEAD>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>CURRENT REPORT</B></DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 0pt"><B>Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>November&nbsp;11, 2005</B><BR>
<B>(Date of earliest event reported)</B></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>ACE CASH EXPRESS, INC.</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">(Exact name of registrant as specified in its charter)</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Texas</B><BR>
(State or other jurisdiction of<BR>
incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>0-20774</B><BR>
(Commission File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>75-2142963</B><BR>
(IRS Employer Identification<BR>
No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="27%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
    <TD width="27%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD nowrap align="center" valign="top"><B>1231 Greenway Drive, Suite&nbsp;600<BR>
Irving, Texas</B><BR>
(Address of principal executive<BR>
offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>75038</B><BR>
(Zip Code)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>(972)&nbsp;550-5000</B><BR>
(Registrant&#146;s telephone number,<BR>
including area code)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Not Applicable</B><BR>
(Former Name or Former Address,<BR>
if Changed Since Last Report)</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">








<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
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	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
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	<TD width="76%"></TD>
</TR>
<TR><TD></TD><TD colspan="8"><A HREF="#000">Item&nbsp;1.01. Entry into a Material Definitive Agreement</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;9.01. Financial Statements and Exhibits</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">Exhibit&nbsp;Index</A></TD></TR>
<TR><TD colspan="9"><A HREF="d30525exv10w1.htm">Non-Employee Directors Stock Incentive Plan</A></TD></TR>
</TABLE>
</CENTER>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>




<!-- link2 "Item&nbsp;1.01. Entry into a Material Definitive Agreement " -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;1.01. Entry into a Material Definitive Agreement</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Approval and Adoption of Non-Employee Directors Stock Incentive Plan</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">At the annual shareholders&#146; meeting held on November&nbsp;11, 2005, ACE&#146;s shareholders approved the Ace
Cash Express, Inc. Non-Employee Directors Stock Incentive Plan (the &#147;Plan&#148;). ACE&#146;s Board of
Directors (the &#147;Board&#148;) had adopted the Plan on August&nbsp;23, 2005, subject to shareholder approval.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A total of 200,000 shares of ACE Common Stock have been reserved for grant or issuance as incentive
compensation to ACE&#146;s non-employee directors under the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Plan provides for discretionary grants of awards only to non-employee directors. The
Compensation Committee of the Board will have the sole authority to grant, from time to time at its
discretion, options to purchase shares of Common Stock or shares of Common Stock as restricted
stock to non-employee directors. The terms of any discretionary option grants authorized by the
Compensation Committee will be subject to provisions as to exercise price, time and manner of
vesting and exercise, term, and payment that are set forth in a stock option agreement entered into
with the grantee. Under the Plan, the exercise price of a stock option must be at least the fair
market value of the Common Stock on the date of grant, and that value will generally be the closing
price of the Common Stock on The Nasdaq Stock Market on that date. The terms of any discretionary
grants of restricted stock will have the provisions set forth in a restricted stock agreement
entered into with the grantee subject to the terms of the Plan. Each restricted stock agreement
will set forth the circumstances under which the granted Common Stock will either vest or be
forfeited by the grantee. Those circumstances will typically be the grantee&#146;s continued service as
a director for specified time periods, but the Compensation Committee may impose performance
conditions in addition or instead. Pending that vesting or forfeiture, the grantee will be the
record holder of the restricted stock, with all rights regarding that Common Stock other than the
right to transfer or dispose of it. Restricted stock may be granted under the Plan for no, or only
nominal, payment by the grantee, as determined by the Compensation Committee. ACE expects,
however, that shares will typically be so granted or issued for payment by the grantee of at least
the par value ($0.01) of each share of Common Stock.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Plan will be administered by the Compensation Committee. The grants of stock options and
restricted stock by the Compensation Committee will be subjective and may be dependent upon, among
other things, the Compensation Committee&#146;s assessment of a non-employee director&#146;s individual
performance. No determination has been made as to the benefits that any of the non-employee
directors may receive under the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Unless sooner terminated by the Board, the Plan will terminate on August&nbsp;23, 2015. The Board or the
Compensation Committee may amend or discontinue the Plan without shareholder approval, except that
neither the Board nor the Compensation Committee may materially increase the benefits accruing to
participants under the Plan, materially increase the number of shares that may be issued under the
Plan, or materially modify the requirements of eligibility for participation in the Plan. The
Board or the Compensation Committee may make appropriate adjustments in the number of shares the
Plan covers, as well as in the number of outstanding options and in the option exercise prices, to
reflect any stock dividend, stock split, share combination or other recapitalization and, with
respect to outstanding options and option prices, to reflect any merger, consolidation,
reorganization, liquidation or similar transaction involving ACE.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A more complete description of the Plan is set forth in ACE&#146;s proxy statement for the annual
shareholders&#146; meeting, which was filed with the Securities and Exchange Commission on October&nbsp;13,
2005. A copy of the Plan is filed as Exhibit&nbsp;10.1 to this Report.
</DIV>


<P align="center" style="font-size: 10pt">1
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U>Forward-looking Statements</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This Report contains certain &#147;forward-looking statements&#148; within the meaning of Section&nbsp;27A of the
Securities Act of 1933, as amended, and Section&nbsp;21E of the Securities Exchange Act of 1934, as
amended. These statements are generally identified by the use of words such as &#147;expect,&#148;
&#147;anticipate,&#148; &#147;estimate,&#148; &#147;believe,&#148; &#147;intend,&#148; &#147;plan,&#148; &#147;target,&#148; &#147;goal,&#148; &#147;should,&#148; &#147;would,&#148; and
terms with similar meanings.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Although ACE believes that the current views and expectations reflected in these forward-looking
statements are reasonable, these views and expectations, and the related statements, are inherently
subject to risks, uncertainties, and other factors, many of which are not under ACE&#146;s control and
may not even be predictable. Any inaccuracy in the assumptions, as well as those risks,
uncertainties and other factors, could cause the actual results to differ materially from these in
the forward-looking statements. These risks, uncertainties, and factors include, but are not
limited to, matters described in this Report and ACE&#146;s other reports filed with the Securities and
Exchange Commission, such as:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>ACE&#146;s relationships with Republic Bank &#038; Trust Company, with Travelers
Express Company, Inc. and its affiliates, with First Bank of Delaware, and
with ACE&#146;s lenders;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>ACE&#146;s relationships with providers of services or products offered by ACE or
property used in its operations;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>federal and state governmental regulation of check cashing, short-term
consumer lending and related financial services businesses;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any impact to ACE&#146;s earnings derived from the loans offered by each of
Republic Bank &#038; Trust Company and First Bank of Delaware at ACE&#146;s stores in
Texas, Pennsylvania and Arkansas from the implementation of the revised
Guidelines for Payday Lending announced on March&nbsp;1, 2005 by the Federal
Deposit Insurance Corporation, which revised Guidelines provide guidance to
banks that engage in payday lending, and include a requirement that such
banks develop procedures to ensure that a payday loan is not provided to any
customer with payday loans outstanding from any lender for more than 3&nbsp;months
in the previous 12&nbsp;months;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any litigation regarding ACE&#146;s short-term consumer lending activities;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>theft and employee errors;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the availability of adequate financing, suitable locations, acquisition
opportunities and experienced management employees to implement ACE&#146;s growth
strategy;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>increases in interest rates, which would increase ACE&#146;s borrowing costs;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the fragmentation of the check cashing industry and competition from various
other sources, such as banks, savings and loans, short-term consumer lenders,
and other similar financial services entities, as well as retail businesses
that offer services offered by ACE;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the terms and performance of third-party services offered at ACE&#146;s stores; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>customer demand and response to services offered at ACE&#146;s stores.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">ACE expressly disclaims any obligation to update or revise any of these forward-looking statements,
whether because of future events, new information, a change in ACE&#146;s views or
expectations, or otherwise. ACE makes no prediction or statement about the performance of
ACE&#146;s Common Stock.
</DIV>


<P align="center" style="font-size: 10pt">2
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link2 "Item&nbsp;9.01. Financial Statements and Exhibits" -->
<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9.01. Financial Statements and Exhibits</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Exhibits</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">10.1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ace Cash Express, Inc. Non-Employee Directors Stock Incentive Plan
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>&#091;Signature Page Follows&#093;</B>
</DIV>


<P align="center" style="font-size: 10pt">3
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>ACE CASH EXPRESS, INC.</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Dated: November 16, 2005&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ WALTER E. EVANS
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Walter E. Evans&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Senior Vice President and
General Counsel&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">4
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>
<!-- link1 "Exhibit&nbsp;Index" -->
<DIV align="left"><A NAME="003"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Exhibit&nbsp;Index</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="91%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Ace Cash Express, Inc. Non-Employee Directors Stock Incentive Plan</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">5
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d30525exv10w1.htm
<DESCRIPTION>NON-EMPLOYEE DIRECTORS STOCK INCENTIVE PLAN
<TEXT>
<HTML>
<HEAD>
<TITLE>exv10w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>Exhibit&nbsp;10.1</B></U>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ACE CASH EXPRESS, INC.</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>NON-EMPLOYEE DIRECTORS STOCK INCENTIVE PLAN</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>AUGUST 23, 2005</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On August&nbsp;23, 2005 (the &#147;Effective Date&#148;), the Board of Directors of Ace Cash Express, Inc.
(the &#147;Company&#148;) adopted the following Non-Employee Directors Stock Incentive Option Plan:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;PURPOSE. The purpose of the Plan is to provide non-employee directors with a
proprietary interest in the Company through the granting of Options and Restricted Stock Awards
which will
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) increase the interest of the non-employee directors in the Company&#146;s
welfare;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) furnish an incentive to the non-employee directors to continue their
services for the Company; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) provide a means through which the Company may attract able persons to
serve on the Board.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;ADMINISTRATION. The Plan will be administered by the Committee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;PARTICIPANTS. The Committee shall, from time to time, select the particular
non-employee directors of the Company to whom Options and Restricted Stock Awards are to be granted
under the Plan and who will, upon such grant, become participants in the Plan (or Grantees).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;SHARES SUBJECT TO PLAN. The Committee may not grant Options and Restricted Stock
Awards under the Plan in the aggregate for more than 200,000 shares of Common Stock of the Company,
but this number may be adjusted to reflect, as deemed appropriate by the Committee, any stock
dividend, stock split, share combination, recapitalization, or the like of or by the Company.
Shares to be optioned and sold or to be granted as Restricted Stock Awards may be made available or
granted from either authorized but unissued Common Stock or Common Stock held by the Company in its
treasury. Shares that by reason of the expiration, forfeiture or cancellation of an Option or
Restricted Stock Award or otherwise are no longer subject to purchase pursuant to an Option, or are
no longer outstanding as a Restricted Stock Award, granted under the Plan may be re-offered or
re-granted under the Plan.
</DIV>

<P align="center" style="font-size: 10pt">6
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;ALLOTMENT OF SHARES. The Committee shall determine the number of shares of
Common Stock to be offered, sold or delivered from time to time by grant of Options and Restricted
Stock Awards to particular non-employee directors of the Company. The grant of an Option or a
Restricted Stock Award to a non-employee director shall not be deemed to entitle the non-employee
director to, or to disqualify the non-employee director from, participation in any other grant of
Options or Restricted Stock Awards under the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;TERMS AND CONDITIONS OF OPTIONS. Subject to any other specific provisions or
limitations of the Plan, the Committee shall determine the provisions, terms and conditions of each
Option, including (but not limited to) the vesting schedule, the number of shares of Common Stock
subject to the Option, the period during which the Option may be exercised, forfeiture provisions,
methods of payment, and all other terms and conditions of the Option.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <U>Option Agreements and Grant Date</U>. Each Option granted under the
Plan shall be evidenced by an Option Agreement in such form (which need not be the same for
each Grantee) as the Committee from time to time approves, but which is not inconsistent
with the Plan. The Company shall execute Option Agreements upon instructions from the
Committee. The date of grant of an Option will be the date on which the Committee makes
the determination to grant such Option unless otherwise specified by the Committee. The
Option Agreement evidencing the Option will be delivered to the Grantee with a copy of the
Plan and other relevant Option documents, within a reasonable time after the date of grant.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <U>Exercise Price</U>. The Committee shall determine the exercise
price of each Option at the time a grant is made; provided, that the exercise price shall
not be less than the Fair Market Value of the shares of Common Stock covered by the Option
on the date of grant.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <U>Option Period</U>. Options shall be exercisable within the time or
times or upon the event or events determined by the Committee and set forth in the Option
Agreement; provided, however, that no Option shall be exercisable later than the tenth
anniversary of the grant date of the Option.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <U>Transferability of Options</U>. Options granted under the Plan, and
any interest therein, shall not be transferable or assignable by the Grantee, and may not
be made subject to execution, attachment or similar process, other than by will or by the
laws of descent and distribution and shall be exercisable during the lifetime of the
Grantee only by the Grantee; provided, that the Grantee may designate any person or
persons who may exercise his Options following his death.
</DIV>

<P align="center" style="font-size: 10pt">7
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <U>Exercise of Options; Notice</U>. Options may be exercised only by
delivery to the Company of a written exercise notice approved by the Committee (which need
not be the same for each Grantee), stating the number of shares of Common Stock being
purchased, the method of payment, and such other matters as may be deemed appropriate by
the Company in connection with the issuance of shares of Common Stock upon exercise of the
Option, together with payment in full of the exercise price for the number of shares of
Common Stock being purchased. The form of such exercise notice may be set forth as part of
an Option Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <U>Rights in Event of Death or Disability</U>. If a Grantee dies or
becomes disabled before termination of his right to exercise an Option under his Option
Agreement without having totally exercised the Option, the Option may be exercised, to the
extent of the shares with respect to which the Option could have been exercised by the
Grantee on the date of his death or disability, by (i)&nbsp;the Grantee&#146;s estate or by the
person or persons who acquired the right to exercise the Option by bequest or inheritance
or by reason of the death of the Grantee, or (ii)&nbsp;the Grantee or his personal
representative in the event of the Grantee&#146;s disability; provided, that the Option may be
exercised only before the date of its expiration or not more than 180&nbsp;days after the date
of the Grantee&#146;s death or disability, whichever first occurs. The disability and the date
of disability of a Grantee shall be determined by the Committee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <U>Payment</U>. Full payment for shares purchased upon exercising an
Option shall be made in cash or by check at the time of exercise, or on such other terms as
are set forth in the applicable Option Agreement. No shares of Common Stock may be issued
until full payment of the purchase price therefor has been made, and a Grantee will have
none of the rights of a shareholder until shares are issued to him.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;TERMS AND CONDITIONS OF RESTRICTED STOCK AWARDS. Each Restricted Stock Agreement
shall be in such form and shall contain such terms and conditions as the Committee shall deem
appropriate. The terms and conditions of such Restricted Stock Agreements may change from time to
time, and the terms and conditions of separate Restricted Stock Agreements need not be identical,
but each such Restricted Stock Agreement shall be subject to the terms and conditions of this
Section&nbsp;7.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <U>Forfeiture Restrictions</U>. Shares of Common Stock that are the
subject of a Restricted Stock Award shall be subject to restrictions on disposition by the
Grantee and to an obligation of the Grantee to forfeit and surrender the shares to the
Company under certain circumstances (&#147;<U>Forfeiture Restrictions</U>&#148;). The Forfeiture
Restrictions shall be determined by the Committee in its sole discretion, and the Committee
may provide that the Forfeiture Restrictions shall lapse on the passage of time, the
attainment of one or more performance targets established by the Committee, or the
occurrence of such other event or events determined to be appropriate by the Committee. The
Forfeiture Restrictions applicable to a particular Restricted Stock Award
</DIV>

<P align="center" style="font-size: 10pt">8
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">(which may differ from any other such Restricted Stock Award) shall be stated in the
Restricted Stock Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <U>Restricted Stock Awards</U>. At the time any Restricted Stock Award
is granted under the Plan, the Company and the Grantee shall enter into a Restricted Stock
Agreement setting forth each of the matters addressed in this Section&nbsp;7 and such other
matters as the Committee may determine to be appropriate. Shares of Common Stock granted
pursuant to a Restricted Stock Award shall be represented by one or more stock certificates
registered in the name of the Grantee of such Restricted Stock Award. The Grantee shall
have the right to receive dividends with respect to the shares of Common Stock subject to a
Restricted Stock Award, to vote the shares of Common Stock subject thereto and to enjoy all
other shareholder rights with respect to the shares of Common Stock subject thereto, except
that, unless provided otherwise in the Restricted Stock Agreement or agreed to or approved
by the Committee, (i)&nbsp;the Grantee shall not be entitled to delivery of the shares of Common
Stock or any certificate representing them until the Forfeiture Restrictions have expired,
(ii)&nbsp;the Company or an escrow agent shall retain custody of shares of Common Stock and the
certificate or certificates representing them until the Forfeiture Restrictions have
expired, (iii)&nbsp;the Grantee may not sell, transfer, pledge, exchange, hypothecate or
otherwise dispose of the shares of Common Stock until the Forfeiture Restrictions subject
thereto have expired, and (iv)&nbsp;a breach of the terms and conditions established by the
Committee pursuant to the Restricted Stock Agreement shall cause a forfeiture of the
Restricted Stock Award. At the time of any Restricted Stock Award, the Committee may, in
its sole discretion, prescribe additional terms, conditions or restrictions relating to the
Restricted Stock Award, including (without limitation) rules pertaining to the termination
of the Grantee&#146;s service as a director of the Company (by retirement, disability, death or
otherwise) before expiration of the Forfeiture Restrictions. Such additional terms,
conditions or restrictions shall also be set forth in a Restricted Stock Agreement made in
connection with the Restricted Stock Award.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <U>Rights and Obligations of Grantee</U>. One or more stock
certificates representing shares of Common Stock, free of Forfeiture Restrictions, shall be
delivered to the Grantee as soon as administratively practicable after, and only after, the
Forfeiture Restrictions with respect to such shares have expired and any other conditions
set forth in the Restricted Stock Agreement have been satisfied. Each Restricted Stock
Agreement shall require that (i)&nbsp;the Grantee, by acceptance of the Restricted Stock Award,
shall irrevocably grant to the Company a power of attorney to transfer any shares so
forfeited to the Company and agrees to execute any documents requested by the Company in
connection with such forfeiture and transfer, and (ii)&nbsp;such provisions regarding transfers
of forfeited shares of Common Stock shall be specifically performable by the Company in a
court of equity or law.
</DIV>

<P align="center" style="font-size: 10pt">9
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <U>Restriction Period</U>. The Restriction Period for a Restricted
Stock Award shall commence on the date of grant of the Restricted Stock Award and, unless
otherwise established by the Committee and stated in the corresponding Restricted Stock
Agreement, shall expire upon satisfaction of the conditions set forth in the Restricted
Stock Agreement pursuant to which the Forfeiture Restrictions will lapse.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <U>Securities Restrictions</U>. The Committee may impose other
conditions on any shares of Common Stock subject to a Restricted Stock Award as it may deem
advisable, including, without limitation, (i)&nbsp;restrictions under applicable state or
federal securities laws, and (ii)&nbsp;the requirements of any stock exchange or market
quotation system upon which shares of Common Stock are then listed or quoted.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <U>Payment for Restricted Stock</U>. The Committee shall determine the
amount and form of any payment required to be made for shares of Common Stock subject to a
Restricted Stock Award. In the absence of such a determination, the Grantee shall not be
required to make any payment for shares of Common Stock subject to a Restricted Stock
Award, except to the extent otherwise required by law.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <U>Forfeiture of Restricted Stock</U>. Subject to the provisions of
the particular Restricted Stock Agreement, on termination of the Grantee&#146;s service as a
director of the Company during the Restriction Period, the shares of Common Stock subject
to the Restricted Stock Award shall be forfeited by the Grantee. Upon any forfeiture, all
rights of the Grantee with respect to the forfeited shares of Common Stock subject to the
Restricted Stock Award shall cease and terminate, without any further obligation on the
part of the Company, except that if so provided in the Restricted Stock Agreement
applicable to the Restricted Stock Award, the Company shall repurchase each of the shares
of Common Stock forfeited for the purchase price per share paid by the Grantee. The
Committee will have discretion to determine whether the service as a director by Grantee
has terminated and the date on which such service terminated.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <U>Lapse of Forfeiture Restrictions in Certain Events; Committee&#146;s
Discretion</U>. Notwithstanding the provisions of Section 7(g) or any other provision in
the Plan to the contrary, the Committee may, in its discretion and as of a date determined
by the Committee, fully vest any or all Common Stock awarded to the Grantee pursuant to a
Restricted Stock Award, and upon such vesting, all Forfeiture Restrictions applicable to
such Restricted Stock Award shall lapse or terminate. Any action by the Committee pursuant
to this Section 7(h) may vary among individual Grantees and may vary among the Restricted
Stock Awards held by any individual Grantee. Notwithstanding the preceding provisions of
this Section&nbsp;7(h), the Committee may not take any action described in this Section 7(h) if
such action would cause the Restricted Stock Award or the Plan to become subject to Section
409A of the Internal Revenue Code of 1986, as amended.
</DIV>

<P align="center" style="font-size: 10pt">10
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;CAPITAL ADJUSTMENTS AND REORGANIZATIONS. The number of shares of Common Stock
covered by each outstanding Option and each outstanding Restricted Stock Award granted under the
Plan and the Option exercise or purchase price may be adjusted to reflect, as deemed appropriate by
the Committee, any stock dividend, stock split, share combination, exchange of shares, sale of all
or substantially all outstanding capital stock, recapitalization, merger, consolidation,
separation, reorganization, sale of all or substantially all assets, liquidation, or the like of or
by the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the event of a merger, consolidation, share exchange, sale of all or substantially all
outstanding capital stock, reorganization, sale of all or substantially all assets, liquidation,
recapitalization, separation, or the like of or by the Company, (a)&nbsp;the Company (acting by or
through the Board or the Committee) may make such arrangements as it deems advisable with respect
to outstanding Options granted under the Plan, and those arrangements shall be binding upon each
Grantee who holds an outstanding Option granted under the Plan, including (without limitation)
arrangements for the substitution of new Options for any Options then outstanding (by conversion or
otherwise), the assumption of any such outstanding Options, or the payment for any such outstanding
Options, and (b)&nbsp;unless the terms of the applicable Restricted Stock Agreement otherwise provide,
the Forfeiture Restrictions applicable to each outstanding Restricted Stock Award shall lapse and
shares of Common Stock subject to such Restricted Stock Award shall be released from escrow, if
applicable, and delivered to the Grantee free of any Forfeiture Restriction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.&nbsp;INTERPRETATION. The Committee shall interpret the Plan and shall prescribe such
rules and regulations in connection with the operation of the Plan as it determines to be advisable
for the administration of the Plan. The Committee may rescind and amend its rules and regulations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.&nbsp;AMENDMENT OR DISCONTINUANCE. The Plan may be amended or discontinued by the
Board without the approval of the shareholders of the Company, except that any amendment that would
(a)&nbsp;materially increase the benefits accruing to participants under the Plan, (b)&nbsp;materially
increase the number of securities that may be issued under the Plan, or (c)&nbsp;materially modify the
requirements of eligibility for participation in the Plan, must be approved by the shareholders of
the Company. In addition, to the extent necessary to comply with applicable laws or the applicable
requirements of any stock exchange or national market-quotation system, the Company shall obtain
shareholder approval of any Plan amendment in such manner and to such decree as required.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.&nbsp;EFFECT OF PLAN. Neither the adoption of the Plan nor any action of the
Committee shall be deemed to give any non-employee director any rights other than as may be
evidenced by the Plan, each Option Agreement or each Restricted Stock Agreement, or any amendment
thereto, duly authorized by the Committee and executed on behalf of the Company in accordance with
the Plan, and then only to the extent and on the terms and conditions expressly set forth herein
and therein.
</DIV>

<P align="center" style="font-size: 10pt">11
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.&nbsp;TERM. Unless sooner terminated by action of the Board, the Plan will terminate
on the earlier of August&nbsp;23, 2015 or the date on which no shares of Common Stock subject to the
Plan remain available to be granted under the Plan according to its provisions. No Options or
Restricted Stock Awards will be granted under the Plan after that date, but Options and Restricted
Stock Awards granted before that date will continue to be effective in accordance with their terms.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.&nbsp;GOVERNING LAW. The Plan shall be governed by, and construed and interpreted in
accordance with, the laws of the State of Texas.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.&nbsp;DEFINITIONS. For the purposes of the Plan, unless the context requires
otherwise, the following terms shall have the meanings indicated:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) &#147;<U>Board</U>&#148; means the Board of Directors of the Company.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) &#147;<U>Committee</U>&#148; means the Compensation Committee, as constituted
from time to time, of the Board or, if determined by the Board in its sole discretion, the
Board.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) &#147;<U>Common Stock</U>&#148; means the Common Stock, $0.01 par value per
share, of the Company or the common stock that the Company may in the future be authorized
to issue (as long as the common stock varies from that currently authorized, if at all,
only in amount of par value).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) &#147;<U>Fair Market Value</U>&#148; means, as of any date, the value of the
Common Stock determined as follows:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) If the Common Stock is listed on any established stock exchange
or quoted on any market-quotation system (such as the NASDAQ National Market
System), the Fair Market Value of a share of Common Stock shall be the closing
sales price for such a share of Common Stock (or the closing bid, if no sales were
reported) as quoted on such exchange or market (or, if more than one, the exchange
or market with the greatest volume of trading in the Common Stock) either, as
determined by the Committee, on the day of determination or on last market trading
day before the day of determination.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) In the absence of any such established markets for the Common
Stock, the Fair Market Value shall be determined in good faith by the Committee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) &#147;<U>Grantee</U>&#148; means a non-employee director to whom an Option or a
Restricted Stock Award has been granted under the Plan.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) &#147;<U>Option</U>&#148; means a stock option granted pursuant to the Plan to
purchase a specified number of shares of Common Stock.
</DIV>

<P align="center" style="font-size: 10pt">12
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) &#147;<U>Option Agreement</U>&#148; means the written agreement evidencing the
grant of an Option executed by the Company and the Grantee, including (without limitation)
any amendments or supplements thereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) &#147;<U>Option Period</U>&#148; means the period during which an Option may be
exercised.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) &#147;<U>Plan</U>&#148; means this Ace Cash Express, Inc. Non-Employee Directors
Stock Option Plan, as may be amended or supplemented from time to time.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) &#147;<U>Restriction Period</U>&#148; means the period during which the Common
Stock under a Restricted Stock Award is nontransferable and subject to Forfeiture
Restrictions, as defined in Section 7(a) of the Plan, set forth in the related Restricted
Stock Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) &#147;<U>Restricted Stock Agreement</U>&#148; means the written agreement
evidencing the grant of a Restricted Stock Award executed by the Company and the Grantee,
including (without limitation) any amendments or supplements thereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) &#147;<U>Restricted Stock Award</U>&#148; means an award, granted under the Plan,
of shares of Common Stock issued to the Grantee for such consideration, if any, and subject
to such restrictions on transfer, rights of first refusal, repurchase provisions,
forfeiture provisions and other terms and conditions as are established by the Committee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) &#147;<U>Section</U>&#148; means a section of the Plan unless otherwise stated or
the context otherwise requires.
</DIV>


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</DIV>

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