EXHIBIT 10.1

ELEVENTH AMENDMENT TO AMENDED AND RESTATED
PRIVATE LABEL CONSUMER CREDIT CARD PROGRAM AGREEMENT

This ELEVENTH AMENDMENT TO AMENDED AND RESTATED PRIVATE LABEL CONSUMER CREDIT
CARD PROGRAM AGREEMENT (this “Amendment”) is made and entered into June 18,
2012, by and between GE Capital Retail Bank, formerly GE Money Bank (“Bank”),
Select Comfort Corporation (“Select Comfort”) and Select Comfort Retail
Corporation (“SCRC” and collectively with Select Comfort “Retailer”) to amend
that certain Amended and Restated Private Label Consumer Credit Card Program
Agreement dated as of December 14, 2005 (as amended, modified and supplemented
from time to time, the “Agreement”), among such parties.  Capitalized terms used
herein and not otherwise defined have the meanings given them in the Agreement.
 
WHEREAS, Bank and Retailer are parties to the Agreement, and it is their mutual
desire that the Agreement be amended in accordance with the terms and conditions
set forth herein, including, without limitation, to modify certain existing
Program Fee Percentages (as defined in the Agreement).
 
NOW, THEREFORE, in consideration of the mutual promises and subject to the terms
and conditions hereinafter set forth, the parties hereby agree as follows:
 
I.            AMENDMENTS TO AGREEMENT
 
1.1 Amendment to Preamble Paragraph and References to GE Money Bank.  Bank’s
address in the preamble paragraph to the Agreement is hereby deleted and
replaced with the following:  “170 Election Road, Suite 125, Draper, UT,
84020”.  In addition, each and every reference to “GE Money Bank” in the
Agreement is hereby deleted and replaced with “GE Capital Retail Bank”.
 
1.2 Addition of Subsection 2.2(l).  A new subsection 2.2(l) is hereby added to
the Agreement as follows:
 
“(l)           Give due consideration to Bank’s recommendations for improved
positioning of financing promotional offers on the Retailer Website.  Bank
acknowledges and agrees that Retailer retains sole discretion and control with
respect to the content of the Retailer Website.”
 
1.3 Amendment to Section 13.10.  Bank’s address for notice and contact
information set forth in Section 13.10 is hereby deleted in its entirety and
replaced with the following:
 
“if to Bank:

GE Capital Retail Bank
170 Election Road, Suite 125
Draper, Utah 84020

With copies to

GE Capital -- Payment Solutions
 
 
 

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950 Forrer Boulevard
Kettering, Ohio 45420
 
Attn:  Counsel / Risk Group
 
and
 
GE Capital -- Payment Solutions
777 Long Ridge Road
Stamford, Connecticut 06902
Attn: General Counsel”.

1.4 Addition of Section 13.18.  A new Section 13.18 is hereby added to the
Agreement as follows:
 
“13.18           Prohibition on Illegal Gambling.  Retailer certifies that it
does not engage in an Internet gambling business (as defined in 12 CFR 233.2(r))
and covenants that it shall not accept a Credit Card with respect to any
transaction through any Retailer sales channel in furtherance of any such
gambling enterprise.”
 
1.5 Addition of Section 13.19.  A new Section 13.19 is hereby added to the
Agreement as follows:
 
“13.19           Obligations Subject to Law.  All obligations of either party
hereunder shall be subject to all applicable laws, including any changes or
amendments thereto and either party may take any actions that it in good faith
believes are required by then applicable law or the direction of any regulatory
authority or, in Bank’s case, to prevent the occurrence of an “unsafe or
unsound” banking practice (as defined in 12 U.S.C. § 1818); provided, that
Section 9.2(k) will continue to be applicable with respect to any such action
taken as hereinabove authorized, if such action constitutes or gives rise to a
Force Majeure Event.”
 
1.6 Amendment to Appendix A.  The definition of “Credit Review Point” in
Appendix A to the Agreement is hereby deleted in its entirety and replaced with
the following:
 
““Credit Review Point” means Three Hundred Fifty Million Dollars ($350,000,000)
or such other higher amount as Bank, in its sole discretion, may from time to
time specify to Retailer in writing.”
 
1.7 Amendment to Schedule 3.5.  Schedule 3.5 to the Agreement is hereby deleted
in its entirety and replaced with revised Schedule 3.5 attached hereto as
Exhibit A.
 
1.8 Amendment to Schedule 3.6.  Schedule 3.6 to the Agreement is hereby deleted
in its entirety and replaced with revised Schedule 3.6 attached hereto as
Exhibit B.
 
 
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II.            GENERAL
 
2.1           Authority for Amendment.  The execution, delivery and performance
of this Amendment has been duly authorized by all requisite corporate action on
the part of Retailer and Bank and upon execution by all parties will constitute
a legal, binding obligation thereof.
 
2.2           Effect of Amendment.  Except as specifically amended hereby, the
Agreement, and all terms contained therein, remains in full force and
effect.  The Agreement, as amended by this Amendment, constitutes the entire
understanding of the parties with respect to the subject matter hereof.
 
2.3           Binding Effect; Severability.  Each reference herein to a party
hereto shall be deemed to include its successors and assigns, all of whom shall
be bound by this Amendment and in whose favor the provisions of this Amendment
shall inure.  In case any one or more of the provisions contained in this
Amendment shall be invalid, illegal or unenforceable in any respect, the
validity, legality and enforceability of the remaining provisions contained
herein shall not in any way be affected or impaired thereby.
 
2.4           Further Assurances.  The parties hereto agree to execute such
other documents and instruments and to do such other and further things as may
be necessary or desirable for the execution and implementation of this Amendment
and the consummation of the transactions contemplated hereby and thereby.
 
2.5           Governing Law.  This Amendment shall be governed by and construed
in accordance with the laws of the State of Utah.
 
2.6           Counterparts.  This Amendment may be executed in counterparts,
each of which shall constitute an original, but all of which, when taken
together, shall constitute but one agreement.
 
[Signature page follows]
 

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    IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their duly authorized officers, all as of the day and year first
above written.
 
SELECT COMFORT CORPORATION
 
 
By:                      /s/ Mark A. Kimball 
Name:                      Mark A.
Kimball                                           
Title:                         SVP & General
Counsel                                           
GE CAPITAL RETAIL BANK
 
 
By:                      /s/ Glenn P. Marino                                
Name:                       Glenn P. Marino                                
Title:                         EVP                                

 
SELECT COMFORT RETAIL CORPORATION

By:                      /s/ Mark A.
Kimball                                                      
Name:                      Mark A. Kimball
Title:                         SVP & General
Counsel                                           

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EXHIBIT A
 
SCHEDULE 3.5
To
Credit Card Program Agreement

Program Fee Percentages

Retail Purchases:

Promotion
Program Fee Percentage
With Pay/Deferred Interest
 
6 Month
[***]
12 Month
[***]
18 Month
[***]
24 Month
[***]
Equal Payments/No Interest
 
18 Month
[***]
24 Month
[***]
36 Month
[***]
48 Month
[***]

Direct Purchases; ECOM Purchases:

Promotion
Program Fee Percentage
With Pay/Deferred Interest
 
6 Month
[***]
12 Month
[***]
18 Month
[***]
24 Month
[***]
Equal Payments/No Interest
 
18 Month
[***]
24 Month
[***]
36 Month
[***]
48 Month
[***]

[***Confidential portion has been omitted pursuant to a request for confidential
treatment and has been filed separately with the Commission.]

 
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EXHIBIT B

SCHEDULE 3.6
To
Credit Card Program Agreement
Interest Rate Adjustor Calculations
 
Discount Rate Adjustments based on changes in 12 Month Libor (Current Active
Promotional offers)
       
Base Twelve Month LIBOR: 1.00%
 
Promotion  Type
Adjustor Formula
Adjustor per 25 bps (1 click) change in
Base Twelve
Month LIBOR
LIBOR RANGES - Cost of Funds Pricing Schedule
0.26% through 0.50%
0.51% through 0.75%
.76% through 1.24%
1.25% through 1.49%
1.5% through 1.74%
1.75% through 1.99%
2.00% through 2.24%
With Pay/ Deferred Interest
                 
Retail 6 Months
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
Direct/ECOM
6 Months
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
Retail 12 Months
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
Direct/ECOM
12 Months
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
Retail 18 Months
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
Direct/ECOM
18 Months
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
Retail 24 Months
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
Direct/ECOM
24 Months
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
Equal Payments/
No Interest
                 
Retail 18 Months
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
Direct/ECOM
18 Months
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
Retail 24 Months
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
Direct/ECOM
24 Months
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
Retail 36 Months
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
Direct/ECOM
36 Months
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
Retail 48 Months
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
Direct/ECOM
48 Months
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]
[***]

 
[***Confidential portion has been omitted pursuant to a request for confidential
treatment and has been filed separately with the Commission.]
 
 
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For purposes of clarification only, the following is an example of how the
interest rate adjustor will be calculated:
 
1.  As of the Eleventh Amendment Effective Date, the Program Fee Percentages
shall be as set forth on Schedule 3.5 and such Program Fee Percentages were
established based on the Base Twelve Month LIBOR of 1.00%.
 
2. If at the end of the calendar quarter ending on June 30, 2012 the Twelve
Month LIBOR is 0.74% (a movement of 26 basis points from the Base Twelve Month
LIBOR), then the Program Fee Percentages will be adjusted in accordance with
Section 3.6 of this Agreement to the rates set forth above in this Schedule 3.6
under the >.51% and <0.75% LIBOR increment.  Such adjusted Program Fee
Percentages will be effective as of the first day of the second month of the
calendar quarter beginning on July 1, 2012 (i.e., such rates will be implemented
on August 1, 2012) and will remain in effect until the Program Fee Percentages
for the next quarterly adjustment become effective (as described below).
 
3.  At the end of the calendar quarter ending on September 30, 2012, adjustments
to the then current Program Fee Percentages will made as follows:  (1) the
adjustments made to the Program Fee Percentages described in Item 2 above will
be eliminated, (2) the Program Fee Percentages will revert to those set forth
above in this Schedule 3.6 under the >.76% and <1.25 LIBOR increment, (3) any
adjustments to the Program Fee Percentages for the calendar quarter beginning on
October 1, 2012 will be determined in accordance with Section 3.6 of the
Agreement based on the movement of the Twelve Month LIBOR as compared to the
Base Twelve Month LIBOR of 1.00%, (4) any adjusted Program Fee Percentages will
become effective as of the first day of the second month of the calendar quarter
beginning on October 1, 2012 (i.e. such rates will be implemented on November 1,
2012), and (5) the Program Fee Percentages in effect prior to the foregoing
adjustment will remain in effect until the first day of the second month of
the  calendar quarter that begins on October 1, 2012 (i.e. such rates will
remain in effect until November 1, 2012).
 
4.  If at the end of the calendar quarter ending on September 30, 2012, the
Twelve Month LIBOR is 0.99% (a movement of 1 basis point from the Base Twelve
Month LIBOR of 1.00%), then (1) effective as of November 1, 2012, the Program
Fee Percentages for the calendar quarter beginning on October 1, 2012 will be
those set forth above in this Schedule 3.6 under the >.76% and <1.25 LIBOR
increment because the movement of 1 basis point does not exceed the 25 basis
points movement necessary for an additional adjustment, and (2) the Program Fee
Percentages in effect pursuant to Item 2 above will remain in effect until
November 1, 2012.
 
5.  For the avoidance of doubt the foregoing example does not account for any
pricing adjustments (other than for cost of funds) that may be made pursuant to
the Agreement.
 
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