Document:

Amended and Restated 2005 Stock Plan

 EXHIBIT 10.1 
 COLEY PHARMACEUTICAL GROUP, INC. 
 AMENDED AND RESTATED 2005 STOCK PLAN 
  

	1.	DEFINITIONS. 

 Unless otherwise specified or unless
the context otherwise requires, the following terms, as used in this Coley Pharmaceutical Group, Inc. Amended and Restated 2005 Stock Plan, have the following meanings: 
 Administrator means the Board of Directors, unless it has delegated power to act on its behalf to the Committee, in which case the Administrator means the Committee. 
 Affiliate means a corporation which, for purposes of Section 424 of the Code, is a parent or subsidiary of the Company, direct or indirect.

 Agreement means an agreement between the Company and a Participant delivered pursuant to the Plan, in such form as the Administrator
shall approve. 
 Board of Directors means the Board of Directors of the Company. 
 Cause shall mean (and is not limited to) dishonesty with respect to the Company or any Affiliate, insubordination, substantial malfeasance or
non-feasance of duty, unauthorized disclosure of confidential information, breach by the Participant of any provision of any employment, consulting, advisory, nondisclosure, non-competition or similar agreement between the Participant and the
Company, and conduct substantially prejudicial to the business of the Company or any Affiliate. The determination of the Administrator as to the existence of Cause will be conclusive on the Participant and the Company. In addition, any provision in
an agreement between the Participant and the Company or an Affiliate, which contains a conflicting definition of Cause for termination and which is in effect at the time of such termination, shall supersede the definition in this Plan with respect
to that Participant. 
 Change in Control means the occurrence of any of the following events: 
  

	 	(i)	 Ownership. Any “Person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) becomes the “Beneficial
Owner” (as defined in Rule 13d-3 under said Act), directly or indirectly, of 

	 	 
securities of the Company representing 50% or more of the total voting power represented by the Company’s then outstanding voting securities (excluding
for this purpose any such voting securities held by the Company or its Affiliates or by any employee benefit plan of the Company) pursuant to a transaction or a series of related transactions which the Board of Directors does not approve; or

  

	 	(ii)	Merger/Sale of Assets. (A) A merger or consolidation of the Company whether or not approved by the Board of Directors, other than a merger or consolidation which would result
in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or the parent of such corporation) at least
50% of the total voting power represented by the voting securities of the Company or such surviving entity or parent of such corporation, as the case may be, outstanding immediately after such merger or consolidation; (B) or the
stockholders of the Company approve an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets; or 

  

	 	(iii)	Change in Board Composition. A change in the composition of the Board of Directors, as a result of which fewer than a majority of the directors are Incumbent Directors.
“Incumbent Directors” shall mean directors who either (A) are directors of the Company as of the date this Plan was initially approved by the Board of Directors, or (B) are elected, or nominated for election, to the
Board of Directors with the affirmative votes of at least a majority of the Incumbent Directors at the time of such election or nomination (but shall not include an individual whose election or nomination is in connection with an actual or
threatened proxy contest relating to the election of directors to the Company). 

 Code means the United States Internal
Revenue Code of 1986, as amended. 
 Committee means the Compensation Committee of the Board of Directors, to which the Board of
Directors has delegated power to act under or pursuant to the provisions of the Plan. To the extent the Board of Directors deems it to be practicable and advisable, the members of the Compensation Committee shall be solely “independent
directors” for purposes of the listing standards of The Nasdaq Stock Market, Inc., and shall also qualify as “non-employee directors” for purposes of Rule 16b-3 under the Securities Exchange Act of 1934, as amended, and as
“outside directors” for purposes of Section 162(m) of the Code, as such standards and definitions may be revised or amended from time to time. 

 Common Stock means shares of the Company’s common stock, $.01 par value per share.

 Company means Coley Pharmaceutical Group, Inc., a Delaware corporation. 
 Disability or Disabled means permanent and total disability as defined in Section 22(e)(3) of the Code. 
 Employee means any employee of the Company or of an Affiliate (including, without limitation, an employee who is also serving as an officer or
director of the Company or of an Affiliate), designated by the Administrator to be eligible to be granted one or more Stock Rights under the Plan. 
 Fair Market Value of a Share of Common Stock means: 
 (1) If the Common Stock is listed on a national securities exchange or
traded in the over-the-counter market and sales prices are regularly reported for the Common Stock, the closing or last price of the Common Stock on the composite tape or other comparable reporting system on the applicable date and if such date is
not a trading day, the last market trading day prior to such date; 
 (2) If the Common Stock is not traded on a national securities exchange
but is traded on the over-the-counter market, if sales prices are not regularly reported for the Common Stock for the trading day referred to in clause (1), and if bid and asked prices for the Common Stock are regularly reported, the mean
between the bid and the asked price for the Common Stock at the close of trading in the over-the-counter market on the applicable date and if such date is not a trading day, the last market trading day prior to such date; and 
 (3) If the Common Stock is neither listed on a national securities exchange nor traded in the over-the-counter market, such value as the Administrator, in
good faith, shall determine. 
 ISO means an option meant to qualify as an incentive stock option under Section 422 of the Code.

 Non-Qualified Option means an option which is not intended to qualify as an ISO. 

 Option means an ISO or Non-Qualified Option granted under the Plan. 
 Participant means an Employee, director or consultant of the Company or an Affiliate to whom one or more Stock Rights are granted under the Plan.
As used herein, “Participant” shall include “Participant’s Survivors” where the context requires. 
 Plan
means this Coley Pharmaceutical Group, Inc. 2005 Stock Plan. 
 Shares means shares of the Common Stock as to which Stock Rights have
been or may be granted under the Plan or any shares of capital stock into which the Shares are changed or for which they are exchanged within the provisions of Paragraph 3 of the Plan. The Shares issued under the Plan may be authorized and
unissued shares or shares held by the Company in its treasury, or both. 
 Stock-Based Award means a grant by the Company under the
Plan of an equity award or equity based award which is not an Option or Stock Grant. 
 Stock Grant means a grant by the Company of
Shares under the Plan. 
 Stock Right means a right to Shares or the value of Shares of the Company granted pursuant to the Plan —
an ISO, a Non-Qualified Option, a Stock Grant or a Stock-Based Award. 
 Survivor means a deceased Participant’s legal
representatives and/or any person or persons who acquired the Participant’s rights to a Stock Right by will or by the laws of descent and distribution. 
  

	2.	PURPOSES OF THE PLAN. 

 The Plan is intended to
encourage ownership of Shares by Employees and directors of and certain consultants to the Company in order to attract and retain such people, to induce them to work for the benefit of the Company or of an Affiliate and to provide additional
incentive for them to promote the success of the Company or of an Affiliate. The Plan provides for the granting of ISOs, Non-Qualified Options, Stock Grants and Stock-Based Awards. 
  

	3.	SHARES SUBJECT TO THE PLAN. 

 (a) The number of
Shares which may be issued from time to time pursuant to this Plan, shall be (i) 2,401,746, plus (ii) the amount of shares of Common Stock, if any, that are presently subject to awards under the Company’s 1997 Employee, Director and
Consultant Stock Option Plan but which become unissued upon the cancellation, surrender or termination of such award for any 

 
reason whatsoever or the equivalent of such number of Shares after the Administrator, in its sole discretion, has interpreted the effect of any stock split,
stock dividend, combination, recapitalization or similar transaction in accordance with Paragraph 24 of the Plan. Notwithstanding the foregoing, in no event may more than a maximum of 2,557,101 Shares be issued pursuant to this Plan, including, but
not limited to as ISO grants. In addition, no more than ten percent (10%) of the maximum number of Shares to be issued pursuant to this Plan may be issued in the form of Stock Grants. 
 (b) If an Option ceases to be outstanding, in whole or in part (other than by exercise), or if the Company shall reacquire (at no more than its original
issuance price) any Shares issued pursuant to a Stock Grant or Stock-Based Award, or if any Stock Right expires or is forfeited, cancelled, or otherwise terminated or results in any Shares not being issued, the unissued Shares which were subject to
such Stock Right shall again be available for issuance from time to time pursuant to this Plan. Notwithstanding the foregoing, if a Stock Right is exercised, in whole or in part, by tender of Shares or if the Company’s tax withholding
obligation is satisfied by withholding Shares, the number of Shares deemed to have been issued under the Plan for purposes of the limitation set forth in Paragraph 3(a) above shall be the number of Shares that were subject to the Stock Right or
portion thereof, and not the net number of Shares actually issued. 
  

	4.	ADMINISTRATION OF THE PLAN. 

 The Administrator of
the Plan will be the Board of Directors, except to the extent the Board of Directors delegates its authority to the Committee, in which case the Committee shall be the Administrator. Subject to the provisions of the Plan, the Administrator is
authorized to: 
  

	 	a.	Interpret the provisions of the Plan and all Stock Rights and to make all rules and determinations which it deems necessary or advisable for the administration of the Plan;

  

	 	b.	Determine which Employees, directors and consultants shall be granted Stock Rights; 

  

	 	c.	Determine the number of Shares for which a Stock Right or Stock Rights shall be granted, provided, however, that in no event shall Stock Rights with respect to more than 1,000,000
Shares be granted to any Participant in any fiscal year; 

  

	 	d.	Specify the terms and conditions upon which a Stock Right or Stock Rights may be granted; 

  

	 	e.	Make changes to any outstanding Stock Right, including, without limitation, to accelerate the vesting schedule or to extend the expiration date, provided that no such change shall
impair the rights of a Participant under any grant previously made without such Participant’s consent; and 

	 	f.	Adopt any sub-plans applicable to residents of any specified jurisdiction as it deems necessary or appropriate in order to comply with or take advantage of any tax or other laws
applicable to the Company or to Plan Participants or to otherwise facilitate the administration of the Plan, which sub-plans may include additional restrictions or conditions applicable to Stock Rights or Shares issuable pursuant to a Stock Right;

 provided, however, that all such interpretations, rules, determinations, terms and conditions shall be made and prescribed in the context of
(1) not causing any adverse tax consequences under Section 409A of the Code and (2) preserving the tax status under Section 422 of the Code of those Options which are designated as ISOs. Subject to the foregoing, the
interpretation and construction by the Administrator of any provisions of the Plan or of any Stock Right granted under it shall be final, unless otherwise determined by the Board of Directors, if the Administrator is the Committee. In addition, if
the Administrator is the Committee, the Board of Directors may take any action under the Plan that would otherwise be the responsibility of the Committee. 
 To the extent permitted under applicable law, the Board of Directors or the Committee may allocate all or any portion of its responsibilities and powers to any one or more of its members and may delegate all or any
portion of its responsibilities and powers to any other person selected by it. The Board of Directors or the Committee may revoke any such allocation or delegation at any time. 
  

	5.	ELIGIBILITY FOR PARTICIPATION. 

 The Administrator
will, in its sole discretion, name the Participants in the Plan, provided, however, that each Participant must be an Employee, director or consultant of the Company or of an Affiliate at the time a Stock Right is granted. Notwithstanding the
foregoing, the Administrator may authorize the grant of a Stock Right to a person not then an Employee, director or consultant of the Company or of an Affiliate; provided, however, that the actual grant of such Stock Right shall be conditioned upon
such person becoming eligible to become a Participant at or prior to the time of the execution of the Agreement evidencing such Stock Right. ISOs may be granted only to Employees. Non-Qualified Options, Stock Grants and Stock-Based Awards may be
granted to any Employee, director or consultant of the Company or an Affiliate. The granting of any Stock Right to any individual shall neither entitle that individual to, nor disqualify him or her from, participation in any other grant of Stock
Rights. 

	6.	TERMS AND CONDITIONS OF OPTIONS. 

 Each Option shall
be set forth in writing in an Option Agreement, duly executed by the Company and, to the extent required by law or requested by the Company, by the Participant. The Administrator may provide that Options be granted subject to such terms and
conditions, consistent with the terms and conditions specifically required under this Plan, as the Administrator may deem appropriate including, without limitation, subsequent approval by the shareholders of the Company of this Plan or any
amendments thereto. The Option Agreements shall be subject to at least the following terms and conditions: 
  

	 	A.	Non-Qualified Options: Each Option intended to be a Non-Qualified Option shall be subject to the terms and conditions which the Administrator determines to be appropriate and
in the best interest of the Company, subject to the following minimum standards for any such Non-Qualified Option: 

  

	 	a.	Option Price: Each Option Agreement shall state the option price (per share) of the Shares covered by each Option, which option price shall be determined by the Administrator
but shall not be less than the Fair Market Value per share of Common Stock. 

  

	 	b.	Number of Shares: Each Option Agreement shall state the number of Shares to which it pertains. 

  

	 	c.	Option Periods: Each Option Agreement shall state the date or dates on which it first is exercisable and the date after which it may no longer be exercised, and may provide
that the Option rights accrue or become exercisable in installments over a period of months or years, or upon the occurrence of certain conditions or the attainment of stated goals or events. 

  

	 	d.	Option Conditions: Exercise of any Option may be conditioned upon the Participant’s execution of a Share purchase agreement in form satisfactory to the Administrator
providing for certain protections for the Company and its other shareholders, including requirements that: 

  

	 	i.	The Participant’s or the Participant’s Survivors’ right to sell or transfer the Shares may be restricted; and 

  

	 	ii.	The Participant or the Participant’s Survivors may be required to execute letters of investment intent and must also acknowledge that the Shares will bear legends noting any
applicable restrictions. 

	 	e.	Term of Option: Each Non-Qualified Option shall terminate not more than ten years from the date of the grant or at such earlier time as the Option Agreement may provide.

  

	 	B.	ISOs: Each Option intended to be an ISO shall be issued only to an Employee and be subject to the following terms and conditions, with such additional restrictions or changes
as the Administrator determines are appropriate but not in conflict with Section 422 of the Code and relevant regulations and rulings of the Internal Revenue Service: 

  

	 	a.	Minimum standards: The ISO shall meet the minimum standards required of Non-Qualified Options, as described in Paragraph 6(A) above, except clause (a) thereunder.

  

	 	b.	Option Price: Immediately before the ISO is granted, if the Participant owns, directly or by reason of the applicable attribution rules in Section 424(d) of the Code:

  

	 	i.	10% or less of the total combined voting power of all classes of stock of the Company or an Affiliate, the Option price per share of the Shares covered by each ISO shall not be less
than 100% of the Fair Market Value per share of the Shares on the date of the grant of the Option; or 

  

	 	ii.	More than 10% of the total combined voting power of all classes of stock of the Company or an Affiliate, the Option price per share of the Shares covered by each ISO shall not be
less than 110% of the Fair Market Value on the date of grant. 

  

	 	c.	Term of Option: For Participants who own: 

  

	 	i.	10% or less of the total combined voting power of all classes of stock of the Company or an Affiliate, each ISO shall terminate not more than ten years from the date of the grant or
at such earlier time as the Option Agreement may provide; or 

  

	 	ii.	More than 10% of the total combined voting power of all classes of stock of the Company or an Affiliate, each ISO shall terminate not more than five years from the date of the grant
or at such earlier time as the Option Agreement may provide. 

  

	 	d.	Limitation on Yearly Exercise: The Option Agreements shall restrict the amount of ISOs which may become exercisable in any calendar year (under this or any other ISO plan of
the Company or an Affiliate) so that the aggregate Fair Market Value (determined at the time each ISO is granted) of the stock with respect to which ISOs are exercisable for the first time by the Participant in any calendar year does not exceed
$100,000. 

	7.	TERMS AND CONDITIONS OF STOCK GRANTS. 

 Each offer
of a Stock Grant to a Participant shall state the date prior to which the Stock Grant must be accepted by the Participant, and the principal terms of each Stock Grant shall be set forth in an Agreement, duly executed by the Company and, to the
extent required by law or requested by the Company, by the Participant. The Agreement shall be in a form approved by the Administrator and shall contain terms and conditions which the Administrator determines to be appropriate and in the best
interest of the Company, subject to the following minimum standards: 
  

	 	(a)	Each Agreement shall state the purchase price (per share), if any, of the Shares covered by each Stock Grant, which purchase price shall be determined by the Administrator but shall
not be less than the minimum consideration required by the Delaware General Corporation Law on the date of the grant of the Stock Grant; 

  

	 	(b)	Each Agreement shall state the number of Shares to which the Stock Grant pertains; and 

  

	 	(c)	Each Agreement shall include the terms of any right of the Company to restrict or reacquire the Shares subject to the Stock Grant, including the time and events upon which such
rights shall accrue and the purchase price therefor, if any. 

  

	8.	TERMS AND CONDITIONS OF OTHER STOCK-BASED AWARDS. 

 The Board shall have the right to grant other Stock-Based Awards based upon the Common Stock having such terms and conditions as the Board may determine, including, without limitation, the grant of Shares based upon certain conditions, the
grant of securities convertible into Shares and the grant of stock appreciation rights, phantom stock awards or stock units. The principal terms of each Stock-Based Award shall be set forth in an Agreement, duly executed by the Company and, to the
extent required by law or requested by the Company, by the Participant. The Agreement shall be in a form approved by the Administrator and shall contain terms and conditions which the Administrator determines to be appropriate and in the best
interest of the Company. 

	9.	EXERCISE OF OPTIONS AND ISSUE OF SHARES. 

 An Option
(or any part or installment thereof) shall be exercised by giving written notice to the Company or its designee, together with provision for payment of the full purchase price in accordance with this Paragraph for the Shares as to which the Option
is being exercised, and upon compliance with any other condition(s) set forth in the Option Agreement. Such notice shall be signed by the person exercising the Option, shall state the number of Shares with respect to which the Option is being
exercised and shall contain any representation required by the Plan or the Option Agreement. Payment of the purchase price for the Shares as to which such Option is being exercised shall be made (a) in United States dollars in cash or by check,
or (b) at the discretion of the Administrator, through delivery of shares of Common Stock having a Fair Market Value equal as of the date of the exercise to the cash exercise price of the Option, or (c) at the discretion of the
Administrator, by having the Company retain from the shares otherwise issuable upon exercise of the Option, a number of shares having a Fair Market Value equal as of the date of exercise to the exercise price of the Option, or (d) at the
discretion of the Administrator, in accordance with a cashless exercise program established with a securities brokerage firm, and approved by the Administrator, or (e) at the discretion of the Administrator, by any combination of (a),
(b) (c) and (d) above, or (f) at the discretion of the Administrator, payment of such other lawful consideration as the Board may determine. Notwithstanding the foregoing, the Administrator shall accept only such payment on
exercise of an ISO as is permitted by Section 422 of the Code. 
 The Company shall then reasonably promptly deliver the Shares as to
which such Option was exercised to the Participant (or to the Participant’s Survivors, as the case may be). In determining what constitutes “reasonably promptly,” it is expressly understood that the issuance and delivery of the Shares
may be delayed by the Company in order to comply with any law or regulation (including, without limitation, state securities or “blue sky” laws) which requires the Company to take any action with respect to the Shares prior to their
issuance. The Shares shall, upon delivery, be fully paid, non-assessable Shares. 
 The Administrator shall have the right to accelerate the
date of exercise of any installment of any Option; provided that the Administrator shall not accelerate the exercise date of any installment of any Option granted to an Employee as an ISO (and not previously converted into a Non-Qualified Option
pursuant to Paragraph 27) without the prior approval of the Employee if such acceleration would violate the annual vesting limitation contained in Section 422(d) of the Code, as described in Paragraph 6.B.d. 
 The Administrator may, in its discretion, amend any term or condition of an outstanding Option provided (i) such term or condition as amended is
permitted by the Plan, (ii) any such amendment shall be made only with the consent of the Participant to whom the Option was granted, or in the event of the death of the Participant, the Participant’s Survivors, if the amendment is adverse
to the Participant, and (iii) any such amendment of any Option shall be made only after the Administrator determines whether such amendment would constitute a “modification” of any Option which is an ISO (as that term is defined in
Section 424(h) of the Code) or would cause any adverse tax consequences for the holder of any Option, including, but not limited to, pursuant to Section 409A of the Code. 

	10.	ACCEPTANCE OF STOCK GRANTS AND STOCK-BASED AWARDS AND ISSUE OF SHARES. 

 A Stock Grant or Stock-Based Award (or any part or installment thereof) shall be accepted by executing the applicable Agreement and delivering it to the Company or its designee, together with provision for payment of
the full purchase price, if any, in accordance with this Paragraph for the Shares as to which such Stock Grant or Stock-Based Award is being accepted, and upon compliance with any other conditions set forth in the applicable Agreement. Payment of
the purchase price for the Shares as to which such Stock Grant or Stock-Based Award is being accepted shall be made (a) in United States dollars in cash or by check, or (b) at the discretion of the Administrator, through delivery of shares
of Common Stock having a Fair Market Value equal as of the date of acceptance of the Stock Grant or Stock-Based Award to the purchase price of the Stock Grant or Stock-Based Award, or (c) at the discretion of the Administrator, by any
combination of (a) and (b) above. 
 The Company shall then, if required pursuant to the applicable Agreement, reasonably promptly
deliver the Shares as to which such Stock Grant or Stock-Based Award was accepted to the Participant (or to the Participant’s Survivors, as the case may be), subject to any escrow provision set forth in the applicable Agreement. In determining
what constitutes “reasonably promptly,” it is expressly understood that the issuance and delivery of the Shares may be delayed by the Company in order to comply with any law or regulation (including, without limitation, state securities or
“blue sky” laws) which requires the Company to take any action with respect to the Shares prior to their issuance. 
 The
Administrator may, in its discretion, amend any term or condition of an outstanding Stock Grant, Stock-Based Award or applicable Agreement provided (i) such term or condition as amended is permitted by the Plan, (ii) any such amendment
shall be made only with the consent of the Participant to whom the Stock Grant or Stock-Based Award was made, if the amendment is adverse to the Participant, and (iii) any such amendment shall be made only after the Administrator determines
whether such amendment would cause any adverse tax consequences to the Participant, including, but not limited to, pursuant to Section 409A of the Code. 
  

	11.	RIGHTS AS A SHAREHOLDER. 

 No Participant to whom a
Stock Right has been granted shall have rights as a shareholder with respect to any Shares covered by such Stock Right, except after due exercise of the Option or acceptance of the Stock Grant or as set forth in any Agreement and tender of the full
purchase price, if any, for the Shares being purchased pursuant to such exercise or acceptance and registration of the Shares in the Company’s share register in the name of the Participant. 

	12.	ASSIGNABILITY AND TRANSFERABILITY OF STOCK RIGHTS. 

 By its terms, a Stock Right granted to a Participant shall not be transferable by the Participant other than (i) by will or by the laws of descent and distribution, or (ii) as approved by the Administrator in its discretion and
set forth in the applicable Agreement. Notwithstanding the foregoing, an ISO transferred except in compliance with clause (i) above shall no longer qualify as an ISO. The designation of a beneficiary of a Stock Right by a Participant, with the
prior approval of the Administrator and in such form as the Administrator shall prescribe, shall not be deemed a transfer prohibited by this Paragraph. Except as provided above, a Stock Right shall only be exercisable or may only be accepted, during
the Participant’s lifetime, by such Participant (or by his or her legal representative) and shall not be assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and shall not be subject to execution, attachment
or similar process. Any attempted transfer, assignment, pledge, hypothecation or other disposition of any Stock Right or of any rights granted thereunder contrary to the provisions of this Plan, or the levy of any attachment or similar process upon
a Stock Right, shall be null and void. 
  

	13.	EFFECT ON OPTIONS OF TERMINATION OF SERVICE OTHER THAN FOR CAUSE OR DEATH OR DISABILITY. 

 Except as otherwise provided in a Participant’s Option Agreement, in the event of a termination of service (whether as an employee, director or
consultant) with the Company or an Affiliate before the Participant has exercised an Option, the following rules apply: 
  

	 	a.	A Participant who ceases to be an employee, director or consultant of the Company or of an Affiliate (for any reason other than termination for Cause, Disability, or death for which
events there are special rules in Paragraphs 14, 15, and 16, respectively), may exercise any Option granted to him or her to the extent that the Option is exercisable on the date of such termination of service, but only within such term as the
Administrator has designated in a Participant’s Option Agreement. 

  

	 	b.	Except as provided in Subparagraph (c) below, or Paragraph 15 or 16, in no event may an Option intended to be an ISO, be exercised later than three months after the
Participant’s termination of employment. 

  

	 	c.	 The provisions of this Paragraph, and not the provisions of Paragraph 15 or 16, shall apply to a Participant who subsequently becomes Disabled or dies after the
termination of employment, director status or consultancy; provided, 

	 	 
however, in the case of a Participant’s Disability or death within three months after the termination of employment, director status or consultancy, the
Participant or the Participant’s Survivors may exercise the Option within one year after the date of the Participant’s termination of service, but in no event after the date of expiration of the term of the Option.

  

	 	d.	Notwithstanding anything herein to the contrary, if subsequent to a Participant’s termination of employment, termination of director status or termination of consultancy, but
prior to the exercise of an Option, the Board of Directors determines that, either prior or subsequent to the Participant’s termination, the Participant engaged in conduct which would constitute Cause, then such Participant shall forthwith
cease to have any right to exercise any Option. 

  

	 	e.	A Participant to whom an Option has been granted under the Plan who is absent from the Company or an Affiliate because of temporary disability (any disability other than a
Disability as defined in Paragraph 1 hereof), or who is on leave of absence for any purpose, shall not, during the period of any such absence, be deemed, by virtue of such absence alone, to have terminated such Participant’s employment,
director status or consultancy with the Company or with an Affiliate, except as the Administrator may otherwise expressly provide. 

  

	 	f.	Except as required by law or as set forth in a Participant’s Option Agreement, Options granted under the Plan shall not be affected by any change of a Participant’s status
within or among the Company and any Affiliates, so long as the Participant continues to be an employee, director or consultant of the Company or any Affiliate. 

  

	14.	EFFECT ON OPTIONS OF TERMINATION OF SERVICE FOR CAUSE. 

 Except as otherwise provided in a Participant’s Option Agreement, the following rules apply if the Participant’s service (whether as an employee, director or consultant) with the Company or an Affiliate is terminated for Cause
prior to the time that all his or her outstanding Options have been exercised: 
  

	 	a.	All outstanding and unexercised Options as of the time the Participant is notified his or her service is terminated for Cause will immediately be forfeited.

  

	 	b.	Cause is not limited to events which have occurred prior to a Participant’s termination of service, nor is it necessary that the Administrator’s finding of Cause occur
prior to termination. If the Administrator determines, subsequent to a Participant’s termination of service but prior to the exercise of an Option, that either prior or subsequent to the Participant’s termination the Participant engaged in
conduct which would constitute Cause, then the right to exercise any Option is forfeited. 

	15.	EFFECT ON OPTIONS OF TERMINATION OF SERVICE FOR DISABILITY. 

 Except as otherwise provided in a Participant’s Option Agreement, a Participant who ceases to be an employee, director or consultant of the Company or of an Affiliate by reason of Disability may exercise any Option granted to such
Participant: 
  

	 	a.	To the extent that the Option has become exercisable but has not been exercised on the date of Disability; and 

  

	 	b.	In the event rights to exercise the Option accrue periodically, to the extent of a pro rata portion through the date of Disability of any additional vesting rights that would have
accrued on the next vesting date had the Participant not become Disabled. The proration shall be based upon the number of days accrued in the current vesting period prior to the date of Disability. 

 A Disabled Participant may exercise such rights only within the period ending one year after the date of the Participant’s termination of
employment, directorship or consultancy, as the case may be, notwithstanding that the Participant might have been able to exercise the Option as to some or all of the Shares on a later date if the Participant had not become Disabled and had
continued to be an employee, director or consultant or, if earlier, within the originally prescribed term of the Option. 
 The Administrator
shall make the determination both of whether Disability has occurred and the date of its occurrence (unless a procedure for such determination is set forth in another agreement between the Company and such Participant, in which case such procedure
shall be used for such determination). If requested, the Participant shall be examined by a physician selected or approved by the Administrator, the cost of which examination shall be paid for by the Company. 
  

	16.	EFFECT ON OPTIONS OF DEATH WHILE AN EMPLOYEE, DIRECTOR OR CONSULTANT. 

 Except as otherwise provided in a Participant’s Option Agreement, in the event of the death of a Participant while the Participant is an employee, director or consultant of the Company or of an Affiliate, such
Option may be exercised by the Participant’s Survivors: 
  

	 	a.	To the extent that the Option has become exercisable but has not been exercised on the date of death; and 

	 	b.	In the event rights to exercise the Option accrue periodically, to the extent of a pro rata portion through the date of death of any additional vesting rights that would have
accrued on the next vesting date had the Participant not died. The proration shall be based upon the number of days accrued in the current vesting period prior to the Participant’s date of death. 

 If the Participant’s Survivors wish to exercise the Option, they must take all necessary steps to exercise the Option within one year after the date
of death of such Participant, notwithstanding that the decedent might have been able to exercise the Option as to some or all of the Shares on a later date if he or she had not died and had continued to be an employee, director or consultant or, if
earlier, within the originally prescribed term of the Option. 
  

	17.	EFFECT OF TERMINATION OF SERVICE ON UNACCEPTED STOCK GRANTS. 

 In the event of a termination of service (whether as an employee, director or consultant) with the Company or an Affiliate for any reason before the Participant has accepted a Stock Grant, such offer shall terminate.

 For purposes of this Paragraph 17 and Paragraph 18 below, a Participant to whom a Stock Grant has been offered and accepted under the Plan
who is absent from work with the Company or with an Affiliate because of temporary disability (any disability other than a permanent and total Disability as defined in Paragraph 1 hereof), or who is on leave of absence for any purpose, shall not,
during the period of any such absence, be deemed, by virtue of such absence alone, to have terminated such Participant’s employment, director status or consultancy with the Company or with an Affiliate, except as the Administrator may otherwise
expressly provide. 
 In addition, for purposes of this Paragraph 17 and Paragraph 18 below, any change of employment or other service within
or among the Company and any Affiliates shall not be treated as a termination of employment, director status or consultancy so long as the Participant continues to be an employee, director or consultant of the Company or any Affiliate. 

 

	18.	EFFECT ON STOCK GRANTS OF TERMINATION OF SERVICE OTHER THAN FOR CAUSE, DEATH OR DISABILITY. 

 Except as otherwise provided in a Participant’s Agreement, in the event of a termination of service (whether as an employee, director or consultant),
other than termination for Cause, Disability, or death for which events there are special rules in Paragraphs 19, 20, and 21, respectively, before all forfeiture provisions or Company rights of repurchase shall have lapsed, then the Company shall
have the right to cancel or repurchase that number of Shares subject to a Stock Grant as to which the Company’s forfeiture or repurchase rights have not lapsed. 

	19.	EFFECT ON STOCK GRANTS OF TERMINATION OF SERVICE FOR CAUSE. 

 Except as otherwise provided in a Participant’s Agreement, the following rules apply if the Participant’s service (whether as an employee, director or consultant) with the Company or an Affiliate is terminated for Cause:

  

	 	a.	All Shares subject to any Stock Grant shall be immediately subject to repurchase by the Company at the purchase price, if any, thereof. 

  

	 	b.	Cause is not limited to events which have occurred prior to a Participant’s termination of service, nor is it necessary that the Administrator’s finding of Cause occur
prior to termination. If the Administrator determines, subsequent to a Participant’s termination of service, that either prior or subsequent to the Participant’s termination the Participant engaged in conduct which would constitute Cause,
then the Company’s right to repurchase all of such Participant’s Shares shall apply. 

  

	20.	EFFECT ON STOCK GRANTS OF TERMINATION OF SERVICE FOR DISABILITY. 

 Except as otherwise provided in a Participant’s Agreement, the following rules apply if a Participant ceases to be an employee, director or consultant of the Company or of an Affiliate by reason of Disability: to
the extent the forfeiture provisions or the Company’s rights of repurchase have not lapsed on the date of Disability, they shall be exercisable; provided, however, that in the event such forfeiture provisions or rights of repurchase lapse
periodically, such provisions or rights shall lapse to the extent of a pro rata portion of the Shares subject to such Stock Grant through the date of Disability as would have lapsed had the Participant not become Disabled. The proration shall be
based upon the number of days accrued prior to the date of Disability. 
 The Administrator shall make the determination both of whether
Disability has occurred and the date of its occurrence (unless a procedure for such determination is set forth in another agreement between the Company and such Participant, in which case such procedure shall be used for such determination). If
requested, the Participant shall be examined by a physician selected or approved by the Administrator, the cost of which examination shall be paid for by the Company. 

	21.	EFFECT ON STOCK GRANTS OF DEATH WHILE AN EMPLOYEE, DIRECTOR OR CONSULTANT. 

 Except as otherwise provided in a Participant’s Agreement, the following rules apply in the event of the death of a Participant while the Participant is an employee, director or consultant of the Company or of an
Affiliate: to the extent the forfeiture provisions or the Company’s rights of repurchase have not lapsed on the date of death, they shall be exercisable; provided, however, that in the event such forfeiture provisions or rights of repurchase
lapse periodically, such provisions or rights shall lapse to the extent of a pro rata portion of the Shares subject to such Stock Grant through the date of death as would have lapsed had the Participant not died. The proration shall be based upon
the number of days accrued prior to the Participant’s death. 
  

	22.	PURCHASE FOR INVESTMENT. 

 Unless the offering and
sale of the Shares to be issued upon the particular exercise or acceptance of a Stock Right shall have been effectively registered under the Securities Act of 1933, as now in force or hereafter amended (the “1933 Act”), the Company shall
be under no obligation to issue the Shares covered by such exercise unless and until the following conditions have been fulfilled: 
  

	 	a.	The person(s) who exercise(s) or accept(s) such Stock Right shall warrant to the Company, prior to the receipt of such Shares, that such person(s) are acquiring such Shares for
their own respective accounts, for investment, and not with a view to, or for sale in connection with, the distribution of any such Shares, in which event the person(s) acquiring such Shares shall be bound by the provisions of the following legend
which shall be endorsed upon the certificate(s) evidencing their Shares issued pursuant to such exercise or such grant: 

 “The shares represented by this certificate have been taken for investment and they may not be sold or otherwise transferred by any person, including a pledgee, unless (1) either (a) a Registration Statement with respect to
such shares shall be effective under the Securities Act of 1933, as amended, or (b) the Company shall have received an opinion of counsel satisfactory to it that an exemption from registration under such Act is then available, and
(2) there shall have been compliance with all applicable state securities laws.” 
  

	 	b.	At the discretion of the Administrator, the Company shall have received an opinion of its counsel that the Shares may be issued upon such particular exercise or acceptance in
compliance with the 1933 Act without registration thereunder. 

	23.	DISSOLUTION OR LIQUIDATION OF THE COMPANY. 

 Upon
the dissolution or liquidation of the Company, all Options granted under this Plan which as of such date shall not have been exercised and all Stock Grants and Stock-Based Awards which have not been accepted will terminate and become null and void;
provided, however, that if the rights of a Participant or a Participant’s Survivors have not otherwise terminated and expired, the Participant or the Participant’s Survivors will have the right immediately prior to such dissolution or
liquidation to exercise or accept any Stock Right to the extent that the Stock Right is exercisable or subject to acceptance as of the date immediately prior to such dissolution or liquidation. Upon the dissolution or liquidation of the Company, any
outstanding Stock-Based Awards shall immediately terminate unless otherwise determined by the Administrator or specifically provided in the applicable Agreement. 
  

	24.	ADJUSTMENTS. 

 Upon the occurrence of any of the
following events, a Participant’s rights with respect to any Stock Right granted to him or her hereunder shall be adjusted as hereinafter provided, unless otherwise specifically provided in a Participant’s Agreement: 
 A. Stock Dividends and Stock Splits. If (i) the shares of Common Stock shall be subdivided or combined into a greater or smaller number of
shares or if the Company shall issue any shares of Common Stock as a stock dividend on its outstanding Common Stock, or (ii) additional shares or new or different shares or other securities of the Company or other non-cash assets are
distributed with respect to such shares of Common Stock, the number of shares of Common Stock deliverable upon the exercise of an Option or acceptance of a Stock Grant shall be appropriately increased or decreased proportionately, and appropriate
adjustments shall be made including, in the purchase price per share, to reflect such events. The number of Shares subject to the limitations in Paragraphs 3 and 4(c) shall also be proportionately adjusted upon the occurrence of such events.

 B. Change of Control. In the event of a Change of Control, other than a transaction to merely change the state of incorporation of
the Company, the Administrator or the board of directors of any entity assuming the obligations of the Company hereunder (the “Successor Board”), shall, as to outstanding Options, either (i) make appropriate provision for the
continuation of such Options by substituting on an equitable basis for the Shares then subject to such Options either the consideration payable with respect to the outstanding shares of Common Stock in connection with the Change of Control or
securities of any successor or acquiring entity; or (ii) upon written notice to the Participants, provide that all Options must be exercised within a specified number of days of the date of such notice, at the end of which period the Options
shall terminate (provided, however, that all Options shall for purposes of this clause (ii) be made fully vested and exercisable immediately prior to their termination, and further provided, that this clause (ii) shall not be
available following a Change in Control under clause (i) or (iii) of the definition of such term set forth in Section 1 of this Plan, or under clause (ii) of the definition of such term set forth in Section 1 of this Plan if
a merger or consolidation is not approved by the 

 
Board of Directors); or (iii) terminate all Options in exchange for a cash payment equal to the excess of the Fair Market Value of the Shares subject to
such Options over the exercise price thereof (provided, however, that all Options shall for purposes of this clause (iii) be made fully vested and exercisable immediately prior to their termination). 
 With respect to outstanding Stock Grants, the Administrator or the Successor Board, shall either (i) make appropriate provisions for the
continuation of such Stock Grants on the same terms and conditions by substituting on an equitable basis for the Shares then subject to such Stock Grants either the consideration payable with respect to the outstanding Shares of Common Stock in
connection with the Change of Control or securities of any successor or acquiring entity; or (ii) terminate all Stock Grants in exchange for a cash payment equal to the excess of the Fair Market Value of the Shares subject to such Stock Grants
over the purchase price thereof, if any. 
 C. Recapitalization or Reorganization. In the event of a recapitalization or
reorganization of the Company, other than a Change of Control pursuant to which securities of the Company or of another corporation are issued with respect to the outstanding shares of Common Stock, a Participant upon exercising an Option or
accepting a Stock Grant after the recapitalization or reorganization shall be entitled to receive for the purchase price paid upon such exercise or acceptance the number of replacement securities which would have been received if such Option had
been exercised or Stock Grant accepted prior to such recapitalization or reorganization. 
 D. Adjustments to Stock-Based Awards. Upon
the happening of any of the events described in Subparagraphs A, B or C above, any outstanding Stock-Based Award shall be appropriately adjusted to reflect the events described in such Subparagraphs. The Administrator or the Successor Board shall
determine the specific adjustments to be made under this Paragraph 24, including, but not limited to the effect if any, of a Change of Control and, subject to Paragraph 4, its determination shall be conclusive. 
 E. Modification of Options. Notwithstanding the foregoing, any adjustments made pursuant to Subparagraph A, B or C above with respect to Options
shall be made only after the Administrator determines whether such adjustments would constitute a “modification” of any ISO (as that term is defined in Section 424(h) of the Code) or would cause any adverse tax consequences for the
holders of such Options, including, but not limited to, pursuant to Section 409A of the Code. If the Administrator determines that such adjustments made with respect to Options would constitute a modification or other adverse tax consequence,
it may refrain from making such adjustments, unless the holder of an Option specifically agrees in writing that such adjustment be made and such writing indicates that the holder has full knowledge of the consequences of such
“modification” on his or her income tax treatment with respect to the Option. This paragraph shall not apply to the acceleration of the vesting of any ISO that would cause any portion of the ISO to violate the annual vesting limitation
contained in Section 422(d) of the Code, as described in Paragraph 6B(d). 

	25.	ISSUANCES OF SECURITIES. 

 Except as expressly
provided herein, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares
subject to Stock Rights. Except as expressly provided herein, no adjustments shall be made for dividends paid in cash or in property (including without limitation, securities) of the Company prior to any issuance of Shares pursuant to a Stock Right.

  

	26.	FRACTIONAL SHARES. 

 No fractional shares shall be
issued under the Plan and the person exercising a Stock Right shall receive from the Company cash in lieu of such fractional shares equal to the Fair Market Value thereof. 
  

	27.	CONVERSION OF ISOs INTO NON-QUALIFIED OPTIONS; TERMINATION OF ISOs. 

 The Administrator, at the written request of any Participant, may in its discretion take such actions as may be necessary to convert such Participant’s ISOs (or any portions thereof) that have not been exercised
on the date of conversion into Non-Qualified Options at any time prior to the expiration of such ISOs, regardless of whether the Participant is an employee of the Company or an Affiliate at the time of such conversion. At the time of such
conversion, the Administrator (with the consent of the Participant) may impose such conditions on the exercise of the resulting Non-Qualified Options as the Administrator in its discretion may determine, provided that such conditions shall not be
inconsistent with this Plan. Nothing in the Plan shall be deemed to give any Participant the right to have such Participant’s ISOs converted into Non-Qualified Options, and no such conversion shall occur until and unless the Administrator takes
appropriate action. The Administrator, with the consent of the Participant, may also terminate any portion of any ISO that has not been exercised at the time of such conversion. 
  

	28.	WITHHOLDING. 

 In the event that any federal, state,
or local income taxes, employment taxes, Federal Insurance Contributions Act (“F.I.C.A.”) withholdings or other amounts are required by applicable law or governmental regulation to be withheld from the Participant’s salary, wages or
other remuneration in connection with the exercise or acceptance of a Stock Right or in connection with a Disqualifying Disposition (as defined in Paragraph 29) or upon the lapsing of any forfeiture provision or right of repurchase, or for any other
reason required by law, the Company may withhold from the Participant’s compensation, if any, or may require that the Participant advance 

 
in cash to the Company, or to any Affiliate of the Company which employs or employed the Participant, the statutory minimum amount of such withholdings
unless a different withholding arrangement, including the use of shares of the Company’s Common Stock or a promissory note, is authorized by the Administrator (and permitted by law). For purposes hereof, the fair market value of the shares
withheld for purposes of payroll withholding shall be determined in the manner provided in Paragraph 1 above, as of the date of exercise. If the fair market value of the shares withheld is less than the amount of payroll withholdings required, the
Participant may be required to advance the difference in cash to the Company or the Affiliate employer. The Administrator in its discretion may condition the exercise of an Option for less than the then Fair Market Value on the Participant’s
payment of such additional withholding. 
  

	29.	NOTICE TO COMPANY OF DISQUALIFYING DISPOSITION. 

 Each Employee who receives an ISO must agree to notify the Company in writing immediately after the Employee makes a Disqualifying Disposition of any shares acquired pursuant to the exercise of an ISO. A Disqualifying Disposition is defined
in Section 424(c) of the Code and includes any disposition (including any sale or gift) of such shares before the later of (a) two years after the date the Employee was granted the ISO, or (b) one year after the date the Employee
acquired Shares by exercising the ISO, except as otherwise provided in Section 424(c) of the Code. If the Employee has died before such stock is sold, these holding period requirements do not apply and no Disqualifying Disposition can occur
thereafter. 
  

	30.	TERMINATION OF THE PLAN. 

 The Plan will terminate
on July 15, 2015. The Plan may be terminated at an earlier date by vote of the shareholders or the Board of Directors of the Company; provided, however, that any such earlier termination shall not affect any Agreements executed prior to the
effective date of such termination. 
  

	31.	AMENDMENT OF THE PLAN AND AGREEMENTS. 

 The Plan may
be amended by the shareholders of the Company. The Plan may also be amended by the Administrator, including, without limitation, to the extent necessary to qualify any or all outstanding Stock Rights granted under the Plan or Stock Rights to be
granted under the Plan for favorable federal income tax treatment (including deferral of taxation upon exercise) as may be afforded incentive stock options under Section 422 of the Code, and to the extent necessary to qualify the shares
issuable upon exercise or acceptance of any outstanding Stock Rights granted, or Stock Rights to be granted, under the Plan for listing on any national securities exchange or quotation in any national automated quotation system of securities
dealers. Any amendment approved by the 

 
Administrator which the Administrator determines is of a scope that requires shareholder approval shall be subject to obtaining such shareholder approval.
Any modification or amendment of the Plan shall not, without the consent of a Participant, adversely affect his or her rights under a Stock Right previously granted to him or her. With the consent of the Participant affected, the Administrator may
amend outstanding Agreements in a manner which may be adverse to the Participant but which is not inconsistent with the Plan. In the discretion of the Administrator, outstanding Agreements may be amended by the Administrator in a manner which is not
adverse to the Participant. 
  

	32.	EMPLOYMENT OR OTHER RELATIONSHIP. 

 Nothing in this
Plan or any Agreement shall be deemed to prevent the Company or an Affiliate from terminating the employment, consultancy or director status of a Participant, nor to prevent a Participant from terminating his or her own employment, consultancy or
director status or to give any Participant a right to be retained in employment or other service by the Company or any Affiliate for any period of time. 
  

	33.	GOVERNING LAW. 

 This Plan shall be construed and
enforced in accordance with the law of the State of Delaware. 
  

	34.	REPRICING OF STOCK RIGHTS. 

 Stock Rights granted
under this Plan may not be repriced without the approval of the stockholders of the Company.EXHIBIT 4.1

 Exhibit 4.1 
 CHASE ISSUANCE TRUST 
 as Issuing Entity 
 CLASS A(2007-9) TERMS DOCUMENT 
 dated as of June 15, 2007 
 to 
 AMENDED AND RESTATED 
 CHASESERIES INDENTURE SUPPLEMENT 
 dated as of October 15, 2004 
 to 
 SECOND AMENDED AND RESTATED 
 INDENTURE 
 dated as of March 14, 2006 
 WELLS FARGO BANK, NATIONAL ASSOCIATION 
 as Indenture Trustee and Collateral Agent 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	PAGE
		  	ARTICLE I Definitions and Other Provisions of General Application	  	
			
	 Section 1.01
	  	Definitions	  	1
	 Section 1.02
	  	Governing Law	  	4
	 Section 1.03
	  	Counterparts	  	4
	 Section 1.04
	  	Ratification of Indenture and Indenture Supplement	  	4
			
		  	ARTICLE II The Class A(2007-9) Notes	  	
			
	 Section 2.01
	  	Creation and Designation	  	5
	 Section 2.02
	  	Specification of Required Subordinated Amount and Other Terms	  	5
	 Section 2.03
	  	Interest Payment	  	6
	 Section 2.04
	  	Calculation Agent; Determination of LIBOR	  	6
	 Section 2.05
	  	Payments of Interest and Principal	  	7
	 Section 2.06
	  	Form of Delivery of Class A(2007-9) Notes; Depository; Denominations.	  	7
	 Section 2.07
	  	Delivery and Payment for the Class A(2007-9) Notes	  	8
	 Section 2.08
	  	Supplemental Indenture	  	8

 THIS CLASS A(2007-9) TERMS DOCUMENT (this “Terms Document”), among the CHASE ISSUANCE TRUST, a
statutory trust created under the laws of the State of Delaware (the “Issuing Entity”), having its principal office at c/o Wilmington Trust Company, 1100 North Market Street, Wilmington, Delaware 19890-1600, and WELLS FARGO BANK, NATIONAL
ASSOCIATION, a national banking association, as indenture trustee (the “Indenture Trustee”) and as collateral agent (the “Collateral Agent”), is made and entered into as of June 15, 2007. 
 Pursuant to this Terms Document, the Issuing Entity and the Indenture Trustee shall create a new Tranche of CHASEseries Class A Notes and shall
specify the principal terms thereof. 
 ARTICLE I 
 Definitions and Other Provisions of General Application 
 Section 1.01 Definitions For all
purposes of this Terms Document, except as otherwise expressly provided or unless the context otherwise requires: 
 (1) the terms defined in
this Article have the meanings assigned to them in this Article, and include the plural as well as the singular; 
 (2) all other terms used
herein which are defined in the Indenture Supplement, the Indenture or the Asset Pool Supplement, either directly or by reference therein, have the meanings assigned to them therein; 
 (3) as used in this Terms Document and in any certificate or other document made or delivered pursuant hereto or thereto, accounting terms not defined in
this Terms Document or in any such certificate or other document, and accounting terms partly defined in this Terms Document or in any such certificate or other document to the extent not defined, shall have the respective meanings given to them
under GAAP. To the extent that the definitions of accounting terms in this Terms Document or in any such certificate or other document are inconsistent with the meanings of such terms under GAAP, the definitions contained in this Terms Document or
in any such certificate or other document shall control; 
 (4) the words “hereof,” “herein,” “hereunder” and
words of similar import when used in this Terms Document shall refer to this Terms Document as a whole and not to any particular provision of this Terms Document; references to any subsection, Section, clause, Schedule or Exhibit are references to
subsections, Sections, clauses, Schedules and Exhibits in or to this Terms Document unless otherwise specified; the term “including” means “including without limitation”; references to any law or regulation refer to that law or
regulation as amended from time to time and include any successor law or regulation; references to any Person include that Person’s successors and assigns; and references to any agreement refer to such agreement, as amended, supplemented or
otherwise modified from time to time; 

 (5) in the event that any term or provision contained herein shall conflict with or be inconsistent with
any term or provision contained in the Indenture Supplement, the Indenture or the Asset Pool Supplement, the terms and provisions of this Terms Document shall be controlling; and 
 (6) each capitalized term defined herein shall relate only to the Class A(2007-9) Notes and no other Tranche of CHASEseries Notes issued by the Issuing
Entity. 
 “Asset Pool Supplement” means the Amended and Restated Asset Pool One Supplement to the Indenture, dated as of
October 15, 2004, as amended by the First Amendment thereto, dated as of May 10, 2005, and the Second Amendment thereto, dated as of February 1, 2006, by and among the Issuing Entity, the Indenture Trustee and the Collateral Agent.

 “Beneficiary” means Chase Bank USA, National Association, in its capacity as beneficial owner of the Issuing Entity.

 “Calculation Agent” is defined in Section 2.04(a). 
 “Class A(2007-9) Adverse Event” means the occurrence of any of the following: (a) an Early Amortization Event with respect to the
Class A(2007-9) Notes, (b) an Event of Default and acceleration of the Class A(2007-9) Notes, (c) the Class A Usage of the Class B Required Subordinated Amount for the Class A(2007-9) Notes becomes greater than zero or (d) the
Class A Usage of the Class C Required Subordinated Amount for the Class A(2007-9) Notes becomes greater than zero. 
 “Class
A(2007-9) Note” means any Note, substantially in the form set forth in Exhibit A-1 to the Indenture Supplement, designated therein as a Class A(2007-9) Note and duly executed and authenticated in accordance with the Indenture. 

“Class A(2007-9) Noteholder” means a Person in whose name a Class A(2007-9) Note is registered in the Note Register. 
 “Class A(2007-9) Termination Date” means the earliest to occur of (a) the Principal Payment Date on which the Outstanding Dollar
Principal Amount of the Class A(2007-9) Notes is paid in full, (b) the Legal Maturity Date and (c) the date on which the Indenture is discharged and satisfied pursuant to Article V thereof. 
 “Class A Required Subordinated Amount of Class B Notes” is defined in Section 2.02(a). 
 “Class A Required Subordinated Amount of Class C Notes” is defined in Section 2.02(b). 
 “Controlled Accumulation Amount” means $83,333,333.34; provided, however, if the Accumulation Period Length is determined
to be less than twelve months pursuant to Section 3.12(b)(ii) of the Indenture Supplement, the Controlled Accumulation 

  

 2 

 
Amount for any Note Transfer Date with respect to the Class A(2007-9) Notes will be the amount specified in the definition of “Controlled Accumulation
Amount” in the Indenture Supplement. 
 “Indenture” means the Second Amended and Restated Indenture, dated as of
March 14, 2006, between the Issuing Entity and the Indenture Trustee. 
 “Indenture Supplement” means the Amended and
Restated CHASEseries Indenture Supplement, dated as of October 15, 2004, among the Issuing Entity, the Indenture Trustee and the Collateral Agent. 
 “Initial Dollar Principal Amount” means $1,000,000,000. 
 “Interest Payment
Date” means July 16, 2007 and the 15th day of each month thereafter, or if such 15th day is not a Business Day, the next succeeding Business Day. 
 “Interest Period” means, with respect to any Interest Payment Date, the period from and including the previous Interest Payment Date (or in the case of the initial Interest Payment Date, from and
including the Issuance Date) to but excluding such Interest Payment Date. 
 “Issuance Date” means June 15, 2007.

 “Legal Maturity Date” means June 16, 2014. 
 “LIBOR” means, for any Interest Period, the London interbank offered rate for one-month United States dollar deposits determined by the
Calculation Agent on the LIBOR Determination Date for each Interest Period in accordance with the provisions of Section 2.04. 
 “LIBOR Determination Date” means (1) June 13, 2007 for the period from and including the Issuance Date through but excluding July 16, 2007 and (2) for each interest period thereafter, the second London
Business Day prior to the commencement of the second and each subsequent Interest Period. 
 “London Business Day” means any
Business Day on which dealings in deposits in United States Dollars are transacted in the London interbank market. 
 “Note Interest
Rate” means a rate per annum equal to 0.03% in excess of LIBOR, as determined by the Calculation Agent on the related LIBOR Determination Date with respect to each Interest Period. 
 “Paying Agent” means Wells Fargo Bank, National Association. 
 “Predecessor Note” means, with respect to any particular Note, every previous Note evidencing all or a portion of the same debt as that
evidenced by such particular Note; and, for the purpose of this definition, any Note authenticated and 

  

 3 

 
delivered under Section 3.06 of the Indenture in lieu of a mutilated, lost, destroyed or stolen Note shall be deemed to evidence the same debt as the
mutilated, lost, destroyed or stolen Note. 
 “Record Date” means, for any Note Transfer Date, the last Business Day of the
preceding Monthly Period. 
 “Reference Banks” means four major banks in the London interbank market selected by the
Beneficiary. 
 “Reuters Screen LIBO Page” means the display page so designated on the Reuters Monitor Money Rates (or such
other page as may replace that page on that service, or such other service as may be nominated as the information vendor, for the purposes of displaying rates comparable to LIBOR). 
 “Scheduled Principal Payment Date” means June 15, 2012. 
 “Stated Principal Amount” means $1,000,000,000. 
 Section 1.02 Governing Law THIS TERMS DOCUMENT WILL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF DELAWARE WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS AND THE
OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 Section 1.03
Counterparts This Terms Document may be executed in any number of counterparts, each of which so executed will be deemed to be an original, but all such counterparts will together constitute but one and the same instrument. 
 Section 1.04 Ratification of Indenture and Indenture Supplement As supplemented by this Terms Document, each of the Indenture, the Asset Pool
Supplement and the Indenture Supplement is in all respects ratified and confirmed and the Indenture as so supplemented by the Asset Pool Supplement and the Indenture Supplement as so supplemented by this Terms Document shall be read, taken and
construed as one and the same instrument. 
 [END OF ARTICLE I] 
  

 4 

 ARTICLE II 
 The Class A(2007-9) Notes 
 Section 2.01 Creation and Designation There is hereby created a
Tranche of CHASEseries Class A Notes to be issued pursuant to the Indenture and the Indenture Supplement to be known as the “CHASEseries Class A(2007-9) Notes.” 
 Section 2.02 Specification of Required Subordinated Amount and Other Terms 
 (a) For the Class A(2007-9) Notes for any date of determination, the Class A Required Subordinated Amount of Class B Notes will be an amount equal
to 6.49718% of (i) prior to the occurrence of a Class A(2007-9) Adverse Event, the Adjusted Outstanding Dollar Principal Amount of the Class A(2007-9) Notes on such date of determination or (ii) on and after the date on which a Class
A(2007-9) Adverse Event shall have occurred, the greater of (1) the Adjusted Outstanding Dollar Principal Amount of the Class A(2007-9) Notes on such date of determination and (2) the Adjusted Outstanding Dollar Principal Amount of the
Class A(2007-9) Notes as of the close of business on the day immediately preceding the date on which such Class A(2007-9) Adverse Event shall have occurred. 
 (b) For the Class A(2007-9) Notes for any date of determination, the Class A Required Subordinated Amount of Class C Notes will be an amount equal to 6.49718% of (i) prior to the occurrence of a Class
A(2007-9) Adverse Event, the Adjusted Outstanding Dollar Principal Amount of the Class A(2007-9) Notes on such date or (ii) on and after the date on which a Class A(2007-9) Adverse Event shall have occurred, the greater of (1) the Adjusted
Outstanding Dollar Principal Amount of the Class A(2007-9) Notes on such date of determination and (2) Adjusted Outstanding Dollar Principal Amount of the Class A(2007-9) Notes as of the close of business on the day immediately preceding the
date on which such Class A(2007-9) Adverse Event shall have occurred. 
 (c) The Issuing Entity may change the percentages or the formulas
set forth in either clause (a) or (b) above without the consent of any Noteholder so long as the Issuing Entity has (i) received written confirmation from each Note Rating Agency that has rated any Outstanding Notes that the change in
either of such percentages or formulas, as applicable, will not result in a Ratings Effect with respect to any Outstanding Notes and (ii) delivered to the Indenture Trustee and the Note Rating Agencies a Master Trust Tax Opinion and an Issuing
Entity Tax Opinion. 
  

 5 

 Section 2.03 Interest Payment 
 (a) For each Interest Payment Date, the amount of interest due with respect to the Class A(2007-9) Notes shall be an amount equal to the product of
(i) (A) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, times, (B) the Note Interest Rate in effect with respect to the related Interest
Period, times, (ii) the Outstanding Dollar Principal Amount of the Class A(2007-9) Notes determined as of the close of business on the Interest Payment Date preceding the related Note Transfer Date for the Class A(2007-9) Notes;
provided, however, that for the first Interest Payment Date, the amount of interest due with respect to the Class A(2007-9) Notes shall be an amount equal to the product of (x) the Outstanding Dollar Principal Amount of the Class
A(2007-9) Notes on the Issuance Date, (y) 31 divided by 360 and (z) the Note Interest Rate in effect with respect to the Class A(2007-9) Notes determined on June 13, 2007. Interest on the Class A(2007-9) Notes will be calculated on
the basis of the actual number of days elapsed and a 360-day year. 
 (b) Pursuant to Section 3.03 of the Indenture Supplement, on each
Note Transfer Date with respect to the Class A(2007-9) Notes, the Indenture Trustee shall deposit into the Class A(2007-9) Interest Funding Sub-Account the portion of CHASEseries Available Finance Charge Collections allocable to the Class A(2007-9)
Notes. 
 Section 2.04 Calculation Agent; Determination of LIBOR 
 (a) The Issuing Entity hereby agrees that for so long as any Class A(2007-9) Notes are Outstanding, there shall at all times be an agent appointed to
calculate LIBOR for each Interest Period (the “Calculation Agent”). The Issuing Entity hereby initially appoints the Indenture Trustee as the Calculation Agent for purposes of determining LIBOR for each Interest Period. The Calculation
Agent may be removed by the Issuing Entity at any time. If the Calculation Agent is unable or unwilling to act as such or is removed by the Issuing Entity, or if the Calculation Agent fails to determine LIBOR for an Interest Period, the Issuing
Entity shall promptly appoint a replacement Calculation Agent that does not control or is not controlled by or under common control with the Issuing Entity or its Affiliates. The Calculation Agent may not resign its duties, and the Issuing Entity
may not remove the Calculation Agent, without a successor having been duly appointed. 
 (b) On each LIBOR Determination Date, the
Calculation Agent shall determine LIBOR on the basis of the rate for deposits in United States dollars for a one-month period which appears on Reuters Screen LIBO Page or on such comparable system as is customarily used to quote LIBOR as of 11:00
a.m., London time, on such date. If such rate does not appear on Reuters Screen LIBO Page or on a comparable system as is customarily used to quote LIBOR the rate for that LIBOR Determination Date shall be determined on the basis of the rates at
which deposits in United States 

  

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dollars are offered by the Reference Banks at approximately 11:00 a.m., London time, on that day to prime banks in the London interbank market for a
one-month period. The Calculation Agent shall request the principal London office of each of the Reference Banks to provide a quotation of its rate. If at least two such quotations are provided, the rate for that LIBOR Determination Date shall be
the arithmetic mean of the quotations. If fewer than two quotations are provided as requested, the rate for that LIBOR Determination Date will be the arithmetic mean of the rates quoted by major banks in New York City, selected by the Beneficiary,
at approximately 11:00 a.m., New York City time, on that day for loans in United States dollars to leading European banks for a one-month period. 
 (c) The Note Interest Rate applicable to the then current and the immediately preceding Interest Periods may be obtained by telephoning the Indenture Trustee at its corporate trust office at (612) 667-8058 or such other telephone
number as shall be designated by the Indenture Trustee for such purpose by prior written notice by the Indenture Trustee to each Noteholder from time to time. 
 (d) On each LIBOR Determination Date, the Calculation Agent shall send to the Indenture Trustee and the Beneficiary, by facsimile transmission, notification of LIBOR for the following Interest Period. 
 Section 2.05 Payments of Interest and Principal 
 (a) Any installment of interest or principal payable on any Class A(2007-9) Note which is punctually paid or duly provided for by the Issuing Entity and the Indenture Trustee on the applicable Interest Payment Date or
Principal Payment Date shall be paid by the Paying Agent to the Person in whose name such Class A(2007-9) Note (or one or more Predecessor Notes) is registered on the Record Date, by wire transfer of immediately available funds to such Person’s
account as has been designated by written instructions received by the Paying Agent from such Person not later than the close of business on the third Business Day preceding the date of payment or, if no such account has been so designated, by check
mailed first-class, postage prepaid to such Person’s address as it appears on the Note Register on such Record Date, except that with respect to Notes registered on the Record Date in the name of the nominee of Cede & Co., payment
shall be made by wire transfer in immediately available funds to the account designated by such nominee. 
 (b) The right of the Class
A(2007-9) Noteholders to receive payments from the Issuing Entity will terminate on the first Business Day following the Class A(2007-9) Termination Date. 
 Section 2.06 Form of Delivery of Class A(2007-9) Notes; Depository; Denominations. 
 (a) The
Class A(2007-9) Notes shall be delivered in the form of a global Registered Note as provided in Sections 2.02 and 3.01(i) of the Indenture, respectively. 
  

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 (b) The Depository for the Class A(2007-9) Notes shall be The Depository Trust Company, and the Class
A(2007-9) Notes shall initially be registered in the name of Cede & Co., its nominee. 
 (c) The Class A(2007-9) Notes will be
issued in minimum denominations of $100,000 and integral multiples of $1,000 in excess of $100,000. 
 Section 2.07 Delivery and
Payment for the Class A(2007-9) Notes The Issuing Entity shall execute and deliver the Class A(2007-9) Notes to the Indenture Trustee for authentication, and the Indenture Trustee shall deliver the Class A(2007-9) Notes when authenticated, each
in accordance with Section 3.03 of the Indenture. 
 Section 2.08 Supplemental Indenture The Issuing Entity may enter into a
supplemental indenture with respect to the Class A(2007-9) Notes as provided in Section 9.01 of the Indenture; provided, however, that any supplemental indenture which provides for an additional or alternative form of credit
enhancement for the Class A(2007-9) Notes shall, in addition to the requirements set forth in Section 9.01 of the Indenture, require confirmation from the Note Rating Agencies that have rated any Outstanding Notes of the CHASEseries that such
change in credit enhancement will not result in a Ratings Effect with respect to any Outstanding Notes of the CHASEseries. 
 [END OF ARTICLE
II] 
  

 8 

 IN WITNESS WHEREOF, the parties hereto have caused this Terms Document to be duly executed, all as of the
day and year first above written. 
  

			
	CHASE ISSUANCE TRUST
		
	By:	 	CHASE BANK USA, NATIONAL ASSOCIATION,
		 	as Beneficiary and not in its individual capacity
		
	By:	 	 /s/ Keith W. Schuck

	Name:	 	Keith W. Schuck
	Title:	 	President
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Indenture Trustee and Collateral Agent
		
	By:	 	 /s/ Cheryl C. Zimmerman

	Name:	 	Cheryl C. Zimmerman, CCTS
	Title:	 	Assistant Vice President

 Chase Issuance Trust 
 CHASEseries Class A(2007-9) Terms Document 
 Signature Page

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