Exhibit 10.8

Confidential Treatment Requested. Confidential treatment has been requested for
portions of this exhibit. The copy filed herewith omits the information subject
to the confidentiality request. Omissions are designated as “[Redacted].” A
complete version of this exhibit has been filed separately with the Securities
and Exchange Commission.

SECOND AMENDMENT TO

CREDIT CARD PROGRAM AGREEMENT

This SECOND AMENDMENT TO CREDIT CARD PROGRAM AGREEMENT, dated as of June 1,
2005, (this “Amendment”) is made and entered into as of May 19, 2006, by and
among Federated Department Stores, Inc., a Delaware corporation, (“FDS”), FDS
Bank, a federally-chartered stock savings bank (“FDS Bank”), FACS Group, Inc.,
an Ohio corporation (“FACS”), Macy’s Department Stores, Inc., an Ohio
corporation (“Macy’s”), Bloomingdale’s, Inc., an Ohio corporation
(“Bloomingdale’s”; and together with FDS, FDS Bank, FACS and Macy’s, the “FDS
Companies”), and Department Stores National Bank, a national banking association
(as assignee of Citibank, N.A., a national banking association) (“Bank”).

WHEREAS, the FDS Companies and Bank are parties to that certain Credit Card
Program Agreement dated, as of June 1, 2005, as amended by the First Amendment
to Credit Card Program Agreement and the letter agreement, each dated as of
October 24, 2005 (the “Program Agreement”);

WHEREAS, the parties hereto have agreed to permit the sale, pursuant to the
Purchase Agreement, of those May Assets (as defined in the Purchase Agreement)
and May Liabilities (as defined in the Purchase Agreement) relating to May
Accounts (as defined in the Purchase Agreement) that have been converted from
May Co. credit Systems to FACS Group, Inc. credit Systems prior to the Third
Closing Date (as defined in the Purchase Agreement); and

WHEREAS, the parties hereto desire to amend the Program Agreement in accordance
with Section 18.5 of the Program Agreement.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto, intending to be legally
bound, agree as follows:

1. Defined Terms. Capitalized terms used without definition in this Amendment
have the meanings assigned to them in the Program Agreement.

2. References to May Accounts. All provisions of the Program Agreement
(including the Schedules thereto) referring to the “May Accounts,” the “May
Purchase Price,” the “Third Closing,” the “Third Closing Date” and the “Final
Third Closing Statement” shall apply mutatis mutandis to the “Converted May
Accounts,” the “CM Purchase Price,” the “CM Closing,” the “CM Closing Date” and
the “Final CM Closing Statement” (in each case, as defined in the Purchase
Agreement), respectively; provided, however,

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that references to the “Third Closing” in the definition of “Adverse Sales
Development” and Section 16.2(d)(iv) of the Program Agreement shall apply solely
to such closing and not to the CM Closing. All provisions of the Program
Agreement referring to the “May Accounts,” the “May Purchase Price”, the “Third
Closing,” the “Third Closing Date” and the “Final Third Closing Statement” shall
continue to apply thereto as set forth in the Program Agreement, but references
to the “May Accounts” shall be deemed to exclude “Converted May Accounts.”

3. Amendment of Section 2.2(b). Section 2.2(b) of the Program Agreement is
hereby amended by adding the following text at the end of such Section:

“For the avoidance of doubt, from the CM Closing Date until the Third Closing
Date, Bank shall not have the right to issue, offer or market a Credit Card
bearing the following names of FDS retail divisions or have any other rights
hereunder with respect to the offering of any products or services with respect
to such FDS retail divisions: (a) Robinson’s-May, (b) Meier & Frank,
(c) Foley’s, (d) Marshall Fields, (e) Lord & Taylor and (f) David’s Bridal.”

4. Amendment of Section 9.3(a). Section 9.3(a) of the Program Agreement is
hereby amended by adding the following text at the end of such Section:

“Except to the extent paid pursuant to the previous sentence, not later than 10
A.M. (Eastern time) on each Business Day, Bank shall pay to FDS Bank an amount
determined in accordance with Schedule 9.3(a)(i).”

5. Amendment of Section 17.1. Section 17.1(f) of the Program Agreement is hereby
amended by replacing such section in its entirety with the following text:

“(f) any Solicitation Materials distributed by an FDS Company and not
(i) approved by the Operating Committee or (ii) provided by Bank;”.

6. Amendment of Section 17.2.

(a) Section 17.2 of the Program Agreement is hereby amended by adding “(direct
or indirect)” after the word “damages” in the portion of the sentence that is
before clause (a) of Section 17.2.

(b) Section 17.2(g) of the Program Agreement is hereby amended by replacing the
words “any third party” with the words “any Governmental Authority or other
third party”.

7. Amendment of Schedule 1.1(e). Schedule 1.1(e) of the Program Agreement is
hereby amended by replacing such Schedule in its entirety with Schedule 1.1(e)
attached hereto.

 

2

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8. Amendment of Schedule 1.1(f). Schedule 1.1(f) of the Program Agreement is
hereby amended by replacing such Schedule in its entirety with Schedule 1.1(f)
attached hereto.

9. Amendment of Schedule 1.1(k). Schedule 1.1(k) of the Program Agreement is
hereby amended by replacing such Schedule in its entirety with Schedule 1.1(k)
attached hereto.

10. Amendment of Schedule 1.1(l). Schedule 1.1(l) of the Program Agreement is
hereby amended by replacing such Schedule in its entirety with Schedule 1.1(l)
attached hereto.

11. Amendment of Schedule 4.8(b)(ii). Schedule 4.8(b)(ii) of the Program
Agreement is hereby amended by replacing such Schedule in its entirety with
Schedule 4.8(b)(ii) attached hereto.

12. Amendment of Schedule 9.3(a). Section (a) of Schedule 9.3(a) of the Program
Agreement is hereby amended by replacing such section in its entirety with the
following text:

 

  “(a) Monthly Net Credit Sale Share: The compensation payable to FDS on a
monthly basis shall be reduced by an amount equal to the product of the
aggregate Net Credit Sale Share paid to FDS Bank pursuant to Schedule 9.3(a)(i)
during the preceding Fiscal Month multiplied by the annualized Funding Cost for
such Fiscal Month, divided by 360, and multiplied by 20.”

13. New Schedule 9.3(a)(i). The Program Agreement is hereby amended by adding a
new Schedule 9.3(a)(i) attached hereto.

14. Amendment of Schedule 9.3(c). Schedule 9.3(c) of the Program Agreement is
hereby amended by adding the following new clause (v) at the end thereof:

“(v) For the avoidance of doubt, the parties acknowledge and agree that all May
Accounts shall be covered by and subject to the provisions of this Schedule
9.3(c) from and after the Third Closing Date.”

15. Waiver of Compliance with Section 2.2(d). Bank hereby waives compliance by
FDS or any of its Affiliates with Section 2.2(d) of the Program Agreement solely
with respect to the issuance by FDS Bank of FDS Debit Cards to customers whose
Credit Card Applications have been declined by Bank in accordance with the terms
and provisions of the Program Agreement, provided that in the event FDS or any
of its Affiliates determines and communicates in writing to the OTS its decision
not to offer, issue or market any of the FDS Debit Cards in furtherance of the
implementation of the business plan of FDS Bank (which FDS or one of its
Affiliates shall do as promptly as practicable following such determination),
such waiver shall no longer apply and the provisions of Section 2.2(d) shall
continue to apply to FDS and its Affiliates following the date hereof. At the
request of FDS, the FDS Companies and Bank shall engage in discussions regarding
mutually agreeable extensions of the scope of the waiver of Section 2.2(d).

 

3

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16. Capacity; Authorization; Validity.

(a) FDS hereby represents and warrants to Bank as of the date hereof:

(i) Each FDS Company has all necessary corporate or similar power and authority
to (A) execute and enter into this Amendment and (B) perform the obligations
required of such FDS Company hereunder and the other documents, instruments and
agreements to be executed and delivered by such FDS Company pursuant hereto.

(ii) The execution and delivery by the FDS Companies of this Amendment and all
documents, instruments and agreements executed and delivered by the FDS
Companies pursuant hereto, and the consummation by the FDS Companies of the
transactions specified herein, have been duly and validly authorized and
approved by all necessary corporate or similar actions of the FDS Companies.

(iii) This Amendment (A) has been duly executed and delivered by the FDS
Companies, (B) constitutes the valid and legally binding obligation of the FDS
Companies, and (C) is enforceable against the FDS Companies in accordance with
its terms (subject to applicable bankruptcy, insolvency, reorganization,
receivership or other laws affecting the rights of creditors generally and by
general equity principles including those respecting the availability of
specific performance).

(b) Bank hereby represents and warrants to the FDS Companies as of the date
hereof:

(i) Bank has all necessary corporate or similar power and authority to
(A) execute and enter into this Amendment and (B) perform the obligations
required of it hereunder and the other documents, instruments and agreements to
be executed and delivered by Bank pursuant hereto.

(ii) The execution and delivery by Bank of this Amendment and all documents,
instruments and agreements executed and delivered by Bank pursuant hereto, and
the consummation by Bank of the transactions specified herein, has been duly and
validly authorized and approved by all necessary corporate or similar actions of
Bank.

(iii) This Amendment (A) has been duly executed and delivered by Bank,
(B) constitutes the valid and legally binding obligation of Bank and (C) is
enforceable against Bank in accordance with its terms (subject to applicable
bankruptcy, insolvency, reorganization, receivership or other laws affecting the
rights of creditors generally and by general equity principles including those
respecting the availability of specific performance).

17. Effect of Amendment. This Amendment is hereby incorporated into and made a
part of the Program Agreement. Except as amended by this Amendment, all terms
and provisions of the Program Agreement shall continue and remain in full force
and effect and binding upon the parties thereto.

 

4

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18. Binding Effect. This Amendment shall be binding in all respects and inure to
the benefit of the successors and permitted assigns of the parties hereto.

19. Governing Law. This Amendment and all rights and obligations hereunder,
including matters of construction, validity and performance, shall be governed
by and construed in accordance with the laws of the State of Delaware applicable
to contracts made to be performed within such State and applicable federal law.

20. Counterparts/Facsimiles. This Amendment may be executed in any number of
counterparts, all of which together shall constitute one and the same
instrument, but in making proof of this Amendment, it shall not be necessary to
produce or account for more than one such counterpart. Any facsimile of an
executed counterpart shall be deemed an original.

[Remainder of Page Intentionally Left Blank]

 

5

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IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment to be
duly executed as of the date first above written.

 

DEPARTMENT STORES NATIONAL BANK By:   /s/ Douglas C. Morrison   Name:     Title:
  FEDERATED DEPARTMENT STORES, INC. By:   /s/ Dennis J. Broderick   Name:  
Dennis J. Broderick   Title: Senior Vice President, General Counsel and
Secretary FDS BANK By:   /s/ Susan R. Robinson   Name:   Susan R. Robinson  
Title: Treasurer FACS GROUP, INC. By:   /s/ Bradley R. Mays   Name:   Bradley R.
Mays   Title: Vice President MACY’S DEPARTMENT STORES, INC. By:   /s/ Bradley R.
Mays   Name:   Bradley R. Mays   Title: Vice President BLOOMINGDALES, INC. By:  
/s/ Bradley R. Mays   Name:   Bradley R. Mays   Title: Vice President

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SCHEDULE 1.1(e)

FDS Licensed Marks

 

Trademark

   Registration No.

BURDINES (SM)

  

1,799,777

THE BON (SM)

  

1,154,284

THE BON MARCHE

  

2,129,644

RICH’S (SM)

   1,126,482

LAZARUS (SM)

   1,422,340

GOLDSMITH’S (SM)

   1,843,309

BON-MACY’S

   78/481569

LAZARUS-MACY’S

   78/481586

RICH’S-MACY’S

   78/481602

GOLDSMITH’S-MACY’S

   78/481620

BURDINES-MACY’S

   78/481634

MACY’S

   78,333

MACY’S

   355,755

MACY’S

   360,801

MACY’S

  

922,972

MACY’S

  

355,446

BLOOMINGDALE’S (SM)

  

1,581,982

BLOOMINGDALE’S

  

945,425

BLOOMINGDALE’S

  

1,999,984

BLOOMINGDALE’S

   2,010,033

FILENE’S [TO BE PROVIDED]

  

STRAWBRIDGE’S [TO BE PROVIDED]

  

HECHT’S [TO BE PROVIDED]

  

KAUFMANN’S [TO BE PROVIDED]

  

L.S. AYRES [TO BE PROVIDED]

  

THE JONES STORE [TO BE PROVIDED]

  

FAMOUS BARR [TO BE PROVIDED]

  

For the avoidance of doubt, “FDS Licensed Marks” shall not include the following
marks until the May Closing Date. Following the May Closing Date, the following
shall be deemed to be “FDS Licensed Marks”:

ROBINSON’S-MAY

MEIER & FRANK

FOLEY’S

MARSHALL FIELDS

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SCHEDULE 1.1(f)

High Collar and Low Collar

“High Collar” means (i) with respect to the Finance Charge Reversal Percentage
applicable to the Private Label Accounts, [redacted].

From the CM Closing Date until the May Transition Period End Date, the High
Collar with respect to the Accounts associated with May Department Stores shall
be (i) with respect to the Finance Charge Reversal Percentage applicable to the
Private Label Accounts, [redacted].

Following the last day of the 2006 Fiscal Year of FDS (the “May Transition
Period End Date”), the transitional collars set forth above shall no longer be
applicable and the High Collar percentages set forth before the proviso in the
first sentence of this definition shall apply to all Accounts; provided,
however, [redacted].

“Low Collar” means (i) with respect to the Finance Charge Reversal Percentage
applicable to the Private Label Accounts, [redacted].

From the CM Closing Date until the May Transition Period End Date, the Low
Collar with respect to the Accounts associated with May Department Stores shall
be (i) with respect to the Finance Charge Reversal Percentage applicable to the
Private Label Accounts, [redacted].

After the May Transition Period End Date, the transitional collars set forth
above shall no longer be applicable and the Low Collar percentages set forth
before the proviso in the first sentence of this definition shall apply to all
Accounts; provided, however, [redacted].

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SCHEDULE 1.1(l)

Marketing Commitments

Additional Marketing Commitment:

 

  •  

For the period from the Effective Date through the end of Fiscal Year 2005, (FDS
Accounts only) - [redacted]

 

  •  

For Fiscal Year 2006:

[redacted]

 

  •  

For Fiscal Year 2007 and thereafter:

[redacted]

FDS Marketing Commitment:

 

  •  

For the period from the Effective Date through the end of Fiscal Year 2005, (FDS
Accounts only) - [redacted]

 

  •  

For Fiscal Year 2006:

[redacted]

 

  •  

For Fiscal Year 2007 and thereafter:

[redacted]

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SCHEDULE 1.1(k)

Unamortized Premium

 

Period
Ending
on
Anniversary
of Effective
Date Set
Forth Below

   Unamortized
Premium
with
respect to
the
FDS Assets   Unamortized
Premium
with
respect to
the
GE/Macy’s
Assets   Unamortized
Premium
with
respect to
the
May Assets   Unamortized
Premium May-05          Jun-05          Jul-05          Aug-05          Sep-05
         Oct-05          Nov-05    [redacted]       [redacted] Dec-05   
[redacted]       [redacted] Jan-06    [redacted]       [redacted] Feb-06   
[redacted]       [redacted] Mar-06    [redacted]       [redacted] Apr-06   
[redacted]       [redacted] May-06    [redacted]   [redacted]     [redacted]
Jun-06    [redacted]   [redacted]   [redacted]   [redacted] Jul-06    [redacted]
  [redacted]   [redacted]   [redacted] Aug-06    [redacted]   [redacted]  
[redacted]   [redacted] Sep-06    [redacted]   [redacted]   [redacted]  
[redacted] Oct-06    [redacted]   [redacted]   [redacted]   [redacted] Nov-06   
[redacted]   [redacted]   [redacted]   [redacted] Dec-06    [redacted]  
[redacted]   [redacted]   [redacted] Jan-07    [redacted]   [redacted]  
[redacted]   [redacted] Feb-07    [redacted]   [redacted]   [redacted]  
[redacted] Mar-07    [redacted]   [redacted]   [redacted]   [redacted] Apr-07   
[redacted]   [redacted]   [redacted]   [redacted] May-07    [redacted]  
[redacted]   [redacted]   [redacted] Jun-07    [redacted]   [redacted]  
[redacted]   [redacted] Jul-07    [redacted]   [redacted]   [redacted]  
[redacted] Aug-07    [redacted]   [redacted]   [redacted]   [redacted]

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Sep-07    [redacted]   [redacted]   [redacted]   [redacted] Oct-07    [redacted]
  [redacted]   [redacted]   [redacted] Nov-07    [redacted]   [redacted]  
[redacted]   [redacted] Dec-07    [redacted]   [redacted]   [redacted]  
[redacted] Jan-08    [redacted]   [redacted]   [redacted]   [redacted] Feb-08   
[redacted]   [redacted]   [redacted]   [redacted] Mar-08    [redacted]  
[redacted]   [redacted]   [redacted] Apr-08    [redacted]   [redacted]  
[redacted]   [redacted] May-08    [redacted]   [redacted]   [redacted]  
[redacted] Jun-08    [redacted]   [redacted]   [redacted]   [redacted] Jul-08   
[redacted]   [redacted]   [redacted]   [redacted] Aug-08    [redacted]  
[redacted]   [redacted]   [redacted] Sep-08    [redacted]   [redacted]  
[redacted]   [redacted] Oct-08    [redacted]   [redacted]   [redacted]  
[redacted] Nov-08    [redacted]   [redacted]   [redacted]   [redacted] Dec-08   
[redacted]   [redacted]   [redacted]   [redacted] Jan-09    [redacted]  
[redacted]   [redacted]   [redacted] Feb-09    [redacted]   [redacted]  
[redacted]   [redacted] Mar-09    [redacted]   [redacted]   [redacted]  
[redacted] Apr-09    [redacted]   [redacted]   [redacted]   [redacted] May-09   
[redacted]   [redacted]   [redacted]   [redacted] Jun-09    [redacted]  
[redacted]   [redacted]   [redacted] Jul-09    [redacted]   [redacted]  
[redacted]   [redacted] Aug-09    [redacted]   [redacted]   [redacted]  
[redacted] Sep-09    [redacted]   [redacted]   [redacted]   [redacted] Oct-09   
[redacted]   [redacted]   [redacted]   [redacted] Nov-09    [redacted]  
[redacted]   [redacted]   [redacted] Dec-09    [redacted]   [redacted]  
[redacted]   [redacted] Jan-10    [redacted]   [redacted]   [redacted]  
[redacted] Feb-10    [redacted]   [redacted]   [redacted]   [redacted] Mar-10   
[redacted]   [redacted]   [redacted]   [redacted] Apr-10    [redacted]  
[redacted]   [redacted]   [redacted] May-10    [redacted]   [redacted]  
[redacted]   [redacted] Jun-10    [redacted]   [redacted]   [redacted]  
[redacted] Jul-10    [redacted]   [redacted]   [redacted]   [redacted]

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Aug-10    [redacted]   [redacted]   [redacted]   [redacted] Sep-10    [redacted]
  [redacted]   [redacted]   [redacted] Oct-10    [redacted]   [redacted]  
[redacted]   [redacted] Nov-10    [redacted]   [redacted]   [redacted]  
[redacted] Dec-10    [redacted]   [redacted]   [redacted]   [redacted] Jan-11   
[redacted]   [redacted]   [redacted]   [redacted] Feb-11    [redacted]  
[redacted]   [redacted]   [redacted] Mar-11    [redacted]   [redacted]  
[redacted]   [redacted] Apr-11    [redacted]   [redacted]   [redacted]  
[redacted] May-11    [redacted]   [redacted]   [redacted]   [redacted] Jun-11   
[redacted]   [redacted]   [redacted]   [redacted] Jul-11    [redacted]  
[redacted]   [redacted]   [redacted] Aug-11    [redacted]   [redacted]  
[redacted]   [redacted] Sep-11    [redacted]   [redacted]   [redacted]  
[redacted] Oct-11    [redacted]   [redacted]   [redacted]   [redacted] Nov-11   
[redacted]   [redacted]   [redacted]   [redacted] Dec-11    [redacted]  
[redacted]   [redacted]   [redacted] Jan-12    [redacted]   [redacted]  
[redacted]   [redacted] Feb-12    [redacted]   [redacted]   [redacted]  
[redacted] Mar-12    [redacted]   [redacted]   [redacted]   [redacted] Apr-12   
[redacted]   [redacted]   [redacted]   [redacted] May-12    [redacted]  
[redacted]   [redacted]   [redacted] Jun-12    [redacted]   [redacted]  
[redacted]   [redacted] Jul-12    [redacted]   [redacted]   [redacted]  
[redacted] Aug-12    [redacted]   [redacted]   [redacted]   [redacted] Sep-12   
[redacted]   [redacted]   [redacted]   [redacted] Oct-12    [redacted]  
[redacted]   [redacted]   [redacted] Nov-12    [redacted]   [redacted]  
[redacted]   [redacted] Dec-12    [redacted]   [redacted]   [redacted]  
[redacted] Jan-13    [redacted]   [redacted]   [redacted]   [redacted] Feb-13   
[redacted]   [redacted]   [redacted]   [redacted] Mar-13    [redacted]  
[redacted]   [redacted]   [redacted] Apr-13    [redacted]   [redacted]  
[redacted]   [redacted] May-13    [redacted]   [redacted]   [redacted]  
[redacted] Jun-13    [redacted]   [redacted]   [redacted]   [redacted]

 

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Jul-13    [redacted]   [redacted]   [redacted]   [redacted] Aug-13    [redacted]
  [redacted]   [redacted]   [redacted] Sep-13    [redacted]   [redacted]  
[redacted]   [redacted] Oct-13    [redacted]   [redacted]   [redacted]  
[redacted] Nov-13    [redacted]   [redacted]   [redacted]   [redacted] Dec-13   
[redacted]   [redacted]   [redacted]   [redacted] Jan-14    [redacted]  
[redacted]   [redacted]   [redacted] Feb-14    [redacted]   [redacted]  
[redacted]   [redacted] Mar-14    [redacted]   [redacted]   [redacted]  
[redacted] Apr-14    [redacted]   [redacted]   [redacted]   [redacted] May-14   
[redacted]   [redacted]   [redacted]   [redacted] Jun-14    [redacted]  
[redacted]   [redacted]   [redacted] Jul-14    [redacted]   [redacted]  
[redacted]   [redacted] Aug-14    [redacted]   [redacted]   [redacted]  
[redacted] Sep-14    [redacted]   [redacted]   [redacted]   [redacted] Oct-14   
[redacted]   [redacted]   [redacted]   [redacted] Nov-14    [redacted]  
[redacted]   [redacted]   [redacted] Dec-14    [redacted]   [redacted]  
[redacted]   [redacted] Jan-15    [redacted]   [redacted]   [redacted]  
[redacted] Feb-15    [redacted]   [redacted]   [redacted]   [redacted] Mar-15   
[redacted]   [redacted]   [redacted]   [redacted] Apr-15    [redacted]  
[redacted]   [redacted]   [redacted] May-15    [redacted]   [redacted]  
[redacted]   [redacted] Jun-15    [redacted]   [redacted]   [redacted]  
[redacted] Jul-15    [redacted]   [redacted]   [redacted]   [redacted] Aug-15   
[redacted]   [redacted]   [redacted]   [redacted] Sep-15    [redacted]  
[redacted]   [redacted]   [redacted] Oct-15    [redacted]   [redacted]  
[redacted]   [redacted] Nov-15    [redacted]   [redacted]   [redacted]  
[redacted] Dec-15    [redacted]   [redacted]   [redacted]   [redacted] Jan-16   
[redacted]   [redacted]   [redacted]   [redacted] Feb-16    [redacted]  
[redacted]   [redacted]   [redacted] Mar-16    [redacted]   [redacted]  
[redacted]   [redacted] Apr-16    [redacted]   [redacted]   [redacted]  
[redacted] May-16    [redacted]   [redacted]   [redacted]   [redacted] Jun-16   
[redacted]   [redacted]   [redacted]   [redacted] Jul-16    [redacted]  
[redacted]   [redacted]   [redacted]

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SCHEDULE 4.8(b)(ii)

If the percentage of Average Private Label Interest Free Receivables to Average
Private Label Receivables:

Exceeds [redacted]

provided however, that from the CM Closing Date until the May Transition Period
End Date (as defined in Schedule 1.1(f)) such thresholds shall not apply to any
Cardholder Indebtedness under Accounts associated with May Department Stores
(including the May Accounts and the Converted May Accounts) and for purposes of
such calculations above “Total Portfolio” as used in the calculation of “Funding
Cost” shall exclude Cardholder Indebtedness under Accounts associated with May
Department Stores.

From the CM Closing Date until the May Transition Period End Date, if the
percentage of Average Private Label Interest Free Receivables under the Accounts
associated with May Department Stores to Average Private Label Receivables under
such Accounts:

Exceeds [redacted]

provided that for purposes of such calculations above “Total Portfolio” as used
in the calculation of “Funding Cost” shall only include Cardholder Indebtedness
under Accounts associated with May Department Stores.

After the May Transition Period End Date, the transitional thresholds set forth
above shall no longer be applicable and the thresholds set forth before the
proviso in the first sentence of this definition shall apply to all Cardholder
Indebtedness; provided that [redacted].

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SCHEDULE 9.3(a)(i)

FDS Compensation

(for each Business Day)

Net Credit Sale Share

An amount equal to the sum of:

 

  (i) with respect to the prior Business Day and each day between the prior
Business Day and the date of each payment, an amount equal to [redacted]; and

 

  (ii) with respect to the prior Business Day and each day between the prior
Business Day and the date of each payment, an additional amount equal to
[redacted].