Document:

Exhibit 4.1

 Exhibit 4.1 
  
 EXECUTION COPY 
  

  
 MBNA CREDIT CARD MASTER NOTE TRUST

  
 as Issuer 
  
 CLASS A(2005-8) TERMS DOCUMENT 
  
 dated as of October 12, 2005 
  
 to 
  
 MBNASERIES INDENTURE SUPPLEMENT 
  
 dated as of May 24, 2001 
  
 to 
  
 INDENTURE 
  
 dated as of May 24, 2001 
  
 THE BANK OF NEW YORK

  
 as Indenture Trustee 
  

 TABLE OF CONTENTS 
  

							
	 	  	Page

	ARTICLE I DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	  	1
	 	 	Section 1.01.	 	Definitions	  	1
	 	 	Section 1.02.	 	Governing Law; Submission to Jurisdiction; Agent for Service of Process	  	5
	 	 	Section 1.03.	 	Counterparts	  	5
	 	 	Section 1.04.	 	Ratification of Indenture and Indenture Supplement	  	5
	ARTICLE II THE CLASS A(2005-8) NOTES	  	7
	 	 	Section 2.01.	 	Creation and Designation	  	7
	 	 	Section 2.02.	 	Specification of Required Subordinated Amount and other Terms	  	7
	 	 	Section 2.03.	 	Interest Payment	  	7
	 	 	Section 2.04.	 	Calculation Agent; Determination of LIBOR	  	8
	 	 	Section 2.05.	 	Payments of Interest and Principal	  	8
	 	 	Section 2.06.	 	Form of Delivery of Class A(2005-8) Notes; Depository; Denominations	  	9
	 	 	Section 2.07.	 	Delivery and Payment for the Class A(2005-8) Notes	  	9
	 	 	Section 2.08.	 	Targeted Deposits to the Accumulation Reserve Account	  	9
	ARTICLE III REPRESENTATIONS AND WARRANTIES	  	10
	 	 	Section 3.01.	 	Issuer’s Representations and Warranties	  	10

  
  

 THIS CLASS A(2005-8) TERMS DOCUMENT (this “Terms Document”), by and between MBNA CREDIT
CARD MASTER NOTE TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), having its principal office at Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890, and THE BANK OF NEW
YORK, a New York banking corporation ( the “Indenture Trustee”), is made and entered into as of October 12, 2005. 
  
 Pursuant to this Terms Document, the Issuer and the Indenture Trustee shall create a new tranche of 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 or the Indenture, either directly or by reference therein, have the meanings assigned to them therein;

  

	 	(3)	all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with generally accepted accounting principles and, except as otherwise herein
expressly provided, the term “generally accepted accounting principles” with respect to any computation required or permitted hereunder means such accounting principles as are generally accepted in the United States of America at the date
of such computation; 

  

	 	(4)	all references in this Terms Document to designated “Articles,” “Sections” and other subdivisions are to the designated Articles, Sections and other subdivisions
of this Terms Document as originally executed; 

  

	 	(5)	the words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Terms Document as a whole and not to any particular
Article, Section or other subdivision; 

  

	 	(6)	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 or the Indenture,
the terms and provisions of this Terms Document shall be controlling; 

  

	 	(7)	each capitalized term defined herein shall relate only to the Class A(2005-8) Notes and no other tranche of Notes issued by the Issuer; and 

  

	 	(8)	“including” and words of similar import will be deemed to be followed by “without limitation.” 

 “Accumulation Reserve Funding Period” shall mean, (a) if the Accumulation Period Length
is determined to be one (1) month, there shall be no Accumulation Reserve Funding Period and (b) otherwise, the period (x) commencing on the earliest to occur of (i) the Monthly Period beginning three (3) calendar months prior to the first Transfer
Date for which a budgeted deposit is targeted to be made into the Principal Funding sub-Account of the Class A(2005-8) Notes pursuant to Section 3.10(b) of the Indenture Supplement, (ii) the Monthly Period following the first Transfer Date
following and including the August 2007 Transfer Date for which the Quarterly Excess Available Funds Percentage is less than 2%, but in such event the Accumulation Reserve Funding Period shall not be required to commence earlier than 24 months prior
to the Expected Principal Payment Date, (iii) the Monthly Period following the first Transfer Date following and including the February 2008 Transfer Date for which the Quarterly Excess Available Funds Percentage is less than 3%, but in such event
the Accumulation Reserve Funding Period shall not be required to commence earlier than 18 months prior to the Expected Principal Payment Date, and (iv) the Monthly Period following the first Transfer Date following and including the April 2008
Transfer Date for which the Quarterly Excess Available Funds Percentage is less than 4%, but in such event the Accumulation Reserve Funding Period shall not be required to commence earlier than 16 months prior to the Expected Principal Payment Date
and (y) ending on the close of business on the last day of the Monthly Period preceding the earlier to occur of (i) the Expected Principal Payment Date for the Class A(2005-8) Notes and (ii) the date on which the Class A(2005-8) Notes are paid in
full. 
  
 “Base Rate” means, with respect to any
Monthly Period, the sum of (i) the Weighted Average Interest Rates for the Outstanding MBNAseries Notes, (ii) the Net Servicing Fee Rate (as such term is defined in the Series 2001-D Supplement) and (iii) so long as MBNA or The Bank of New York is
the Servicer, the Servicer Interchange Rate, in each case, for such Monthly Period. 
  
 “Calculation Agent” is defined in Section 2.04(a). 
  
 “Class A(2005-8) Note” means any Note, substantially in the form set forth in Exhibit A-1 to the Indenture Supplement, designated
therein as a Class A(2005-8) Note and duly executed and authenticated in accordance with the Indenture. 
  
 “Class A(2005-8) Noteholder” means a Person in whose name a Class A(2005-8) Note is registered in the Note Register. 
  
 “Class A(2005-8) Termination Date” means the earliest to
occur of (a) the Principal Payment Date on which the Outstanding Dollar Principal Amount of the Class A(2005-8) 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 VI 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 $70,833,333.34; provided, however, if the Accumulation Period Length is determined
to be less than twelve (12) months pursuant to 

  

 2 

 
Section 3.10(b)(ii) of the Indenture Supplement, the Controlled Accumulation Amount shall be the amount specified in the definition of
“Controlled Accumulation Amount” in the Indenture Supplement. 
  
 “Excess Available Funds Percentage” means, with respect to any Transfer Date, the amount, if any, by which the Portfolio Yield for the preceding Monthly Period exceeds the Base Rate for such Monthly Period. 
  
 “Expected Principal Payment Date” means September 15, 2009.

  
 “Initial Dollar Principal Amount” means
$850,000,000. 
  
 “Interest Payment Date” means
the fifteenth day of each month commencing November 15, 2005, or if such fifteenth 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) through the day preceding such Interest Payment Date. 
  
 “Issuance Date” means October 12, 2005. 
  
 “Legal Maturity Date” means February 15, 2012. 
  

“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 October 7, 2005 for the period from and including the Issuance Date to but excluding November 15, 2005
and for each Interest Period thereafter, the second London Business Day prior to the Interest Payment Date on which such Interest Period commences. 
  
 “London Business Day” means any Business Day on which dealings in deposits in United States Dollars are transacted in the London
interbank market. 
  
 “MBNAseries Servicer
Interchange” means, with respect to any Monthly Period, an amount equal to the product of (a) the Servicer Interchange (as such term is defined in the Series 2001-D Supplement) with respect to such Monthly Period and (b) a fraction the
numerator of which is the Weighted Average Available Funds Allocation Amount for the MBNAseries for such Monthly Period and the denominator of which is the Weighted Average Available Funds Allocation Amount for all series of Notes for such Monthly
Period. 
  
 “Note Interest Rate” means a per
annum rate equal to 0.02% 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 The Bank of New York. 
  

 3 

 “Portfolio Yield” means, with respect to any Monthly Period, the annualized percentage
equivalent of a fraction, the numerator of which is (a) the amount of Available Funds allocated to the MBNAseries pursuant to Section 501 of the Indenture, plus (b) any Interest Funding sub-Account Earnings on the related Transfer
Date, plus (c) any amounts to be treated as MBNAseries Available Funds pursuant to Sections 3.20(d) and 3.27(a) of the Indenture Supplement, plus (d) the MBNAseries Servicer Interchange for such Monthly Period,
minus (e) the excess, if any, of the sum of the PFA Prefunding Earnings Shortfall plus the PFA Accumulation Earnings Shortfall over the sum of the aggregate amount to be treated as MBNAseries Available Funds for such Monthly Period
pursuant to Sections 3.04(a)(ii) and 3.25(a) of the Indenture Supplement plus any other amounts applied to cover earnings shortfalls on amounts in the Principal Funding sub-Account for any tranche of MBNAseries Notes for such
Monthly Period, minus (f) the MBNAseries Investor Default Amount for such Monthly Period, and the denominator of which is the Weighted Average Available Funds Allocation Amount for the MBNAseries for such Monthly Period. 
  
 “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 delivered under Section 306 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. 
  
 “Quarterly Excess Available Funds Percentage” means, with respect to the August 2007 Transfer Date and each Transfer Date thereafter, the
percentage equivalent of a fraction the numerator of which is the sum of the Excess Available Funds Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three. 
  
 “Record Date” means, for any 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. 
  
 “Required Accumulation Reserve sub-Account Amount” means, with respect to any Monthly Period during the Accumulation Reserve Funding
Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2005-8) Notes as of the close of business on the last day of the preceding Monthly Period or (ii) any other amount designated by the Issuer;
provided, however, that if such designation is of a lesser amount, the Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not occur with respect to such change. 
  
 “Servicer Interchange Rate” means, for any Monthly Period,
the percentage equivalent of a fraction, the numerator of which is the MBNAseries Servicer Interchange for such Monthly Period, and the denominator of which is the Weighted Average Available Funds Allocation Amount for the MBNAseries for such
Monthly Period. 
  
 “Stated Principal Amount”
means $850,000,000. 
  

 4 

 “Telerate Page 3750” means the display page currently so designated on the Moneyline
Telerate Service (or such other page as may replace that page on that service for the purpose of displaying comparable rates or prices). 
  
 “Weighted Average Interest Rates” means, with respect to any Outstanding Notes of a class or tranche of the MBNAseries, or of all of the
Outstanding Notes of the MBNAseries, on any date, the weighted average (weighted based on the Outstanding Dollar Principal Amount of the related Notes on such date) of the following rates of interest: 
  
 (a) in the case of a tranche of Dollar Interest-bearing Notes with no
Derivative Agreement for interest, the rate of interest applicable to that tranche on that date; 
  
 (b) in the case of a tranche of Discount Notes, the rate of accretion (converted to an accrual rate) of that tranche on that date; 
  
 (c) in the case of a tranche of Notes with a payment due under a Performing
Derivative Agreement for interest, the rate at which payments by the Issuer to the applicable Derivative Counterparty accrue on that date (prior to the netting of such payments, if applicable); and 
  
 (d) in the case of a tranche of Notes with a non-Performing Derivative
Agreement for interest, the rate specified for that date in the related terms document. 
  
 Section 1.02. Governing Law; Submission to Jurisdiction; Agent for Service of Process. This Terms Document shall be governed by and construed in accordance with the laws of the State of Delaware, without regard
to principles of conflict of laws. The parties hereto declare that it is their intention that this Terms Document shall be regarded as made under the laws of the State of Delaware and that the laws of said State shall be applied in interpreting its
provisions in all cases where legal interpretation shall be required. Each of the parties hereto agrees (a) that this Terms Document involves at least $100,000.00, and (b) that this Terms Document has been entered into by the parties hereto in
express reliance upon 6 DEL. C. § 2708. Each of the parties hereto hereby irrevocably and unconditionally agrees (a) to be subject to the jurisdiction of the courts of the State of Delaware and of the federal courts sitting in the State of
Delaware, and (b)(1) to the extent such party is not otherwise subject to service of process in the State of Delaware, to appoint and maintain an agent in the State of Delaware as such party’s agent for acceptance of legal process, and (2)
that, to the fullest extent permitted by applicable law, service of process may also be made on such party by prepaid certified mail with a proof of mailing receipt validated by the United States Postal Service constituting evidence of valid
service, and that service made pursuant to (b)(1) or (2) above shall, to the fullest extent permitted by applicable law, have the same legal force and effect as if served upon such party personally within the State of Delaware. 
  
 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 and the Indenture Supplement is in all respects ratified and confirmed and the Indenture as so supplemented by the Indenture 

  

 5 

 
Supplement as so supplemented and this Terms Document shall be read, taken and construed as one and the same instrument. 
  
 [END OF ARTICLE I] 
  
  

 6 

 ARTICLE II 
  
 The Class A(2005-8) Notes 
  
 Section 2.01. Creation and Designation. There is hereby created a tranche of MBNAseries Class A Notes to be issued pursuant to the Indenture and
the MBNAseries Indenture Supplement to be known as the “MBNAseries Class A(2005-8) Notes.” 
  
 Section 2.02. Specification of Required Subordinated Amount and other Terms. 
  
 (a) For the Class A(2005-8) Notes for any date of determination, the Class A Required Subordinated Amount of Class B Notes
will be an amount equal to 8.82353% of (i) the Adjusted Outstanding Dollar Principal Amount of the Class A(2005-8) Notes on such date or (ii) if an Early Redemption Event with respect to the Class A(2005-8) Notes shall have occurred, if an Event of
Default and acceleration of the Class A(2005-8) Notes shall have occurred or if the Class A Usage of the Class B Required Subordinated Amount for such tranche of Class A Notes is greater than zero, the Adjusted Outstanding Dollar Principal Amount of
the Class A(2005-8) Notes as of close of business on the day immediately preceding the occurrence of such Early Redemption Event, such Event of Default and acceleration or the date on which the Class A Usage of Class B Required Subordinated Amount
exceeded zero. 
  
 (b) For the Class A(2005-8) Notes for any date
of determination, the Class A Required Subordinated Amount of Class C Notes will be an amount equal to 8.82353% of (i) the Adjusted Outstanding Dollar Principal Amount of the Class A(2005-8) Notes on such date or (ii) if an Early Redemption Event
with respect to the Class A(2005-8) Notes shall have occurred, if an Event of Default and acceleration of the Class A(2005-8) Notes shall have occurred or if the Class A Usage of the Class C Required Subordinated Amount for such tranche of Class A
Notes is greater than zero, the Adjusted Outstanding Dollar Principal Amount of the Class A(2005-8) Notes as of close of business on the day immediately preceding the occurrence of such Early Redemption Event, such Event of Default and acceleration
or the date on which the Class A Usage of Class C Required Subordinated Amount exceeded zero. 
  
 (c) The Issuer may change the percentages set forth in clause (a) or (b) above without the consent of any Noteholder so long as the Issuer has (i) received written confirmation from each Note Rating Agency that has
rated any Outstanding Notes of the MBNAseries that the change in either of such percentages will not result in a Ratings Effect with respect to any Outstanding Class A(2005-8) Notes and (ii) delivered to the Indenture Trustee and the Note Rating
Agencies a Master Trust Tax Opinion and an Issuer Tax Opinion. 
  
 Section 2.03. Interest Payment. 
  
 (a) For each
Interest Payment Date, the amount of interest due with respect to the Class A(2005-8) 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(2005-8) Notes determined as of the Record Date
preceding the related Transfer Date. Interest on the Class A(2005-8) Notes will be calculated on the basis of the actual number of days in the related Interest Period and a 360-day year. 
  

 7 

 (b) Pursuant to Section 3.03 of the Indenture Supplement, on each Transfer Date, the Indenture
Trustee shall deposit into the Class A(2005-8) Interest Funding sub-Account the portion of MBNAseries Available Funds allocable to the Class A(2005-8) Notes. 
  
 Section 2.04. Calculation Agent; Determination of LIBOR. 
  

(a) The Issuer hereby agrees that for so long as any Class A(2005-8) Notes are Outstanding, there shall at all times be an agent appointed to calculate
LIBOR for each Interest Period (the “Calculation Agent”). The Issuer 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 Issuer at any time. If the Calculation Agent is unable or unwilling to act as such or is removed by the Issuer, or if the Calculation Agent fails to determine LIBOR for an Interest Period, the Issuer shall promptly appoint a
replacement Calculation Agent that does not control or is not controlled by or under common control with the Issuer or its Affiliates. The Calculation Agent may not resign its duties, and the Issuer 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 Telerate Page 3750 as of 11:00 a.m., London time, on such date. If such rate does
not appear on Telerate Page 3750, the rate for that LIBOR Determination Date shall be determined on the basis of the rates at which deposits in United States 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 four 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 (212) 815-3247 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, if any, payable on any Class
A(2005-8) Note which is punctually paid or duly provided for by the Issuer 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(2005-8)
Note (or one or more Predecessor Notes) is registered on the Record Date, by wire transfer of immediately available funds to such Person’s 
  

 8 

 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(2005-8) Noteholders to receive payments from the
Issuer will terminate on the first Business Day following the Class A(2005-8) Termination Date. 
  
 Section 2.06. Form of Delivery of Class A(2005-8) Notes; Depository; Denominations. 
  
 (a) The Class A(2005-8) Notes shall be delivered in the form of a global Registered Note as provided in Sections 202
and 301(i) of the Indenture, respectively. 
  
 (b) The
Depository for the Class A(2005-8) Notes shall be The Depository Trust Company, and the Class A(2005-8) Notes shall initially be registered in the name of Cede & Co., its nominee. 
  
 (c) The Class A(2005-8) Notes will be issued in minimum denominations of $5,000 and multiples of $1,000 in excess of that
amount. 
  
 Section 2.07. Delivery and Payment for the Class
A(2005-8) Notes. The Issuer shall execute and deliver the Class A(2005-8) Notes to the Indenture Trustee for authentication, and the Indenture Trustee shall deliver the Class A(2005-8) Notes when authenticated, each in accordance with Section
303 of the Indenture. 
  
 Section 2.08. Targeted Deposits
to the Accumulation Reserve Account. 
  
 The deposit targeted
to be made to the Accumulation Reserve Account for any Monthly Period during the Accumulation Reserve Funding Period will be an amount equal to the Required Accumulation Reserve sub-Account Amount. 
  
 [END OF ARTICLE II] 
  

 9 

 ARTICLE III 
  
 Representations and Warranties 
  
 Section 3.01. Issuer’s Representations and Warranties. The Issuer makes the following representations and warranties as to the Collateral
Certificate on which the Indenture Trustee is deemed to have relied in acquiring the Collateral Certificate. Such representations and warranties speak as of the execution and delivery of this Terms Document, but shall survive until the termination
of this Terms Document. Such representations and warranties shall not be waived by any of the parties to this Terms Document unless the Issuer has obtained written confirmation from each Note Rating Agency that there will be no Ratings Effect with
respect to such waiver. 
  
 (a) The Indenture creates a valid and
continuing security interest (as defined in the Delaware UCC) in the Collateral Certificate in favor of the Indenture Trustee, which security interest is prior to all other liens, and is enforceable as such as against creditors of and purchasers
from the Issuer. 
  
 (b) The Collateral Certificate constitutes
either an “account,” a “general intangible,” an “instrument,” or a “certificated security,” each within the meaning of the Delaware UCC. 
  
 (c) At the time of the transfer and assignment of the Collateral Certificate to the Indenture Trustee pursuant to the
Indenture, the Issuer owned and had good and marketable title to the Collateral Certificate free and clear of any lien, claim or encumbrance of any Person. 
  
 (d) The Issuer has caused, within ten days of the execution of the Indenture, the filing of all appropriate financing statements in the proper filing
office in the appropriate jurisdictions under applicable law in order to perfect the security interest in the Collateral Certificate granted to the Indenture Trustee pursuant to the Indenture. 
  
 (e) Other than the security interest granted to the Indenture Trustee
pursuant to the Indenture, the Issuer has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed the Collateral Certificate. The Issuer has not authorized the filing of and is not aware of any financing statements against
the Issuer that include a description of collateral covering the Collateral Certificate other than any financing statement relating to the security interest granted to the Indenture Trustee pursuant to the Indenture or any financing statement that
has been terminated. The Issuer is not aware of any judgment or tax lien filings against the Issuer. 
  
 (f) All original executed copies of the Collateral Certificate have been delivered to the Indenture Trustee. 
  
 (g) At the time of the transfer and assignment of the Collateral Certificate
to the Indenture Trustee pursuant to the Indenture, the Collateral Certificate had no marks or notations indicating that it has been pledged, assigned or otherwise conveyed to any Person other than the Indenture Trustee. 
  
 [END OF ARTICLE III] 
  

 10 

 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. 
  

			
	MBNA CREDIT CARD MASTER NOTE TRUST,
	by MBNA AMERICA BANK,
	NATIONAL ASSOCIATION, as Beneficiary
	and not in its individual capacity
		
	By:	 	 /s/ Kevin F. Sweeney

	 	 	Kevin F. Sweeney
	 	 	First Vice President
	
	THE BANK OF NEW YORK, as Indenture Trustee
	and not in its individual capacity
		
	By:	 	 /s/ Catherine Cerilles

	Name:	 	Catherine Cerilles
	Title:	 	Assistant Vice President

  
 [Signature Page
to the Class A(2005-8) Terms Document]Executive Severance Benefit Policy

 Exhibit 10.1 
  
 OPENWAVE SYSTEMS INC. 
  
 EXECUTIVE SEVERANCE BENEFIT POLICY 
  
 Section 1. INTRODUCTION 
  
 This Openwave Systems Inc. Executive Severance Benefit Policy (the “Policy”) was established effective November 15, 2002, and amended
effective October 6, 2005. The purpose of the Policy is to provide for the payment of severance benefits to Eligible Executives (as defined below) of Openwave Systems Inc. (the “Company”) whose employment with the Company terminates
as a result of an Involuntary Termination. This Policy will be subordinated to any severance benefit arrangement, change of control severance agreement or employment agreement that provides for severance benefits in existence between the Eligible
Executive and the Company, notwithstanding the terms of any such arrangement or agreement, and any benefits under any such arrangement or agreement will be paid prior to any payments under this Policy, which payments will be reduced by any amounts
paid under any such arrangement or agreement. 
  
 Section 2.
DEFINITIONS 
  
 For purposes of the Policy,
the following terms are defined as follows: 
  
 (a) “Base
Salary” means the Eligible Executive’s annual base salary as in effect during the last regularly scheduled payroll period immediately preceding the effective date of termination. 
  
 (b) “Cause” means (i) failure by the Eligible Executive
to devote sufficient time and effort to the performance of his or her duties; (ii) failure by the Eligible Executive to perform one or more duties to the satisfaction of the Company after notice and an opportunity to cure such failure,
(iii) repeated unexplained or unjustified absences from the Company; (iv) a material and willful violation of any federal or state law which if made public would injure the business or reputation of the Company; (v) refusal or willful
failure to act in accordance with any specific lawful direction or order of the Company or stated written policy of the Company; (vi) commission of any act of fraud with respect to the Company; or (vii) conviction of a felony or a crime
involving moral turpitude causing material harm to the standing and reputation of the Company, in each case as reasonably determined by the Company or the Board of Directors of the Company (the “Board”). 
  
 (c) “Eligible Executive” means the Chief Executive Officer
of the Company and those officers of the Company on the U.S. payroll at the level of Vice President and above (as determined under the Human Resources Information System database) who are not eligible to participate in the Company’s 2005
Incentive Compensation Plan (including any plans governed by the terms of the 2005 Incentive Compensation Plan and any successor plans thereto). 
  
 (d) “Involuntary Termination” means any termination of the Eligible Executive by the Company which is not effected for Cause, or any
actual or purported termination effected by the Company for Cause for which the grounds relied upon are not valid; or by Executive within ninety (90) days following the failure of the Company to obtain the assumption of this Agreement by any
successors contemplated in Section 10(a) below. 

 (e) “Policy Administrator” means the Company. 
  
 Section 3. ELIGIBILITY FOR BENEFITS

  
 (a) General Rules. 
  
 (i) Subject to the requirements set forth in this Section 3,
the Company will provide the severance benefits described in Section 4 of the Policy to an Eligible Executive whose termination of employment with the Company is an Involuntary Termination. 
  
 (ii) In order to be eligible to receive benefits under the Policy,
the Eligible Executive must execute a general waiver and release, which includes certain representations, in substantially the form attached hereto as EXHIBIT A, EXHIBIT B, or EXHIBIT C, as
appropriate, and such release must become effective in accordance with its terms. The Company, in its sole discretion, may modify the form of the required release to comply with applicable law and will determine the form of the required release.

  
 (b) Exceptions to Benefit Entitlement. The Eligible
Executive will not receive benefits under the Policy in any of the following circumstances, as determined by the Company in its sole discretion: 
  
 (i) The Eligible Executive has executed an individually negotiated employment contract or agreement with the Company relating to severance
benefits that is in effect on his or her termination date, in which case such Eligible Executive’s severance benefit, if any, will be governed by the terms of such individually negotiated employment contract or agreement and will be governed by
this Policy only to the extent that the reduction pursuant to Section 5(a) below does not entirely eliminate benefits under this Plan. 
  
 (ii) The Company terminates the Eligible Executive’s employment with the Company, and such termination does not constitute an Involuntary
Termination. 
  
 (iii) The Eligible Executive terminates
employment with the Company for any reason or no reason other than, as described in Section 2(d) above, a resignation within ninety (90) days following the failure of the Company to obtain the assumption of this Agreement by any successors
contemplated in Section 10(a) below. Such terminations include, but are not limited to, the Eligible Executive’s resignation, retirement or failure to return from a leave of absence on the scheduled date. 
  
 (iv) The Eligible Executive’s employment terminates as a result
of his or her death or Disability. “Disability” shall mean that the Eligible Executive has been unable to perform his or her Company duties as the result of his or her incapacity due to physical or mental illness or injury, and such
inability, at least 26 weeks after its commencement, is determined to be total and permanent by a physician selected by the Eligible Executive or the Eligible Executive’s legal representative and acceptable to the Company or its insurers (such
Agreement as to acceptability not to be unreasonably withheld). 

 Section 4. AMOUNT OF BENEFIT 
  
 (a) Salary Continuation. The Eligible Executive shall continue to
receive Base Salary for a period of six (6) months. Such amounts shall be paid in regular installments on the normal payroll dates of the Company and will be subject to all required tax withholding. 
  
 (b) Medical Coverage Continuation. For Eligible Executives who elect
to continue health insurance coverage under the Openwave Systems Inc. health plans pursuant to the terms of the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), the Company shall pay the full premium cost of such coverage
on behalf of the Eligible Executive, as well as the Eligible Executive’s spouse and dependents, if any, for the lesser of six (6) months or until the Eligible Executive and his or covered dependents, if any, become eligible for health
insurance coverage through another source. 
  
 (c) Educational
Assistance Plan. Educational assistance benefits shall be extended to the end of the then current course term for any Eligible Executive enrolled in a class previously approved by the Company at the time of his or her Involuntary Termination.

  
 (d) Outplacement Assistance. The Eligible
Executive shall be eligible to receive up to six (6) months outplacement assistance in the form determined by the Company offered through a third-party vendor selected by the Company. 
  
 Section 5. LIMITATIONS ON BENEFITS

  
 (a) Certain Reductions and Offsets.
Notwithstanding any other provision of the Policy to the contrary, any amounts payable to the Eligible Executive under this Policy will be reduced by any payments by the Company to such individual under any other policy, plan, program or
arrangement, including, without limitation, the Openwave Systems Inc. Severance Plan for Eligible U.S. Employees, any change of control severance agreement or employment agreement between the Eligible Executive and the Company that provides for
severance benefits in existence, or any contract between the Eligible Executive and any entity, to the extent such payments are conditioned, at least in part, on termination of employment and are based on the Eligible Executive’s continued
receipt of his or her Base Salary. Furthermore, to the extent that any federal, state or local laws, including, without limitation, so-called “plant closing” laws, require the Company to give advance notice or make a payment of any kind to
an Eligible Executive because of that Eligible Executive’s involuntary termination due to a layoff, reduction in force, plant or facility closing, sale of business, change of control, or any other similar event or reason, the benefits payable
under this Policy will either be reduced or eliminated. The benefits provided under this Policy are intended to satisfy any and all statutory obligations that may arise out of an Eligible Executive’s involuntary termination of employment for
the foregoing reasons, and the Policy Administrator will so construe and implement the terms of the Policy. 
  
 (b) Mitigation. Except as otherwise specifically provided herein, the Eligible Executive will not be required to mitigate damages or the amount of
any payment provided under this Policy by seeking other employment or other form of remuneration for services, nor will the amount of any payment provided for under this Policy be reduced by any compensation earned by any Eligible Executive as a
result of employment by another employer or any retirement benefits received by such Eligible Executive after his or her Involuntary Termination. 

 (c) Termination of Benefits. Benefits under this Policy will terminate immediately if the Eligible
Executive, at any time, violates any proprietary information or confidentiality obligation to the Company, including his or her obligations under the Company’s Confidential Information and Invention Assignment Agreement, or any obligations
under this Policy, including but not limited to the obligations described in Section 6 below. 
  
 (d) Non-Duplication of Benefits. No Eligible Executive is eligible to receive benefits under this Policy more than one time. 
  
 (e) Indebtedness of Eligible Executives. If the Eligible Executive is
indebted to the Company or an affiliate of the Company at his or her termination date, the Company reserves the right to offset any severance payments under the Policy by the amount of such indebtedness. 
  
 (f) Application of Section 409A. Notwithstanding any provision of
this Policy to the contrary, if, at the time of an Eligible Executive’s termination of employment with the Company, the Eligible Executive is a “specified employee” as defined in Section 409A of the U.S. Internal Revenue Code of
1986, as amended (the “Code”), and one or more of the payments or benefits received or to be received by the Eligible Executive pursuant to this Policy would constitute deferred compensation subject to Section 409A, no such payment or
benefit will be provided under this Policy until the earliest of (A) the date which is six (6) months after the Eligible Executive’s “separation from service” for any reason, other than death or “disability” (as
such terms are used in Section 409A(a)(2) of the Code), (B) the date of the Eligible Executive’s death or “disability” (as such term is used in Section 409A(a)(2)(C) of the Code) or (C) the effective date of a
“change in the ownership or effective control” of the Company (as such term is used in Section 409A(a)(2)(A)(v) of the Code). The provisions of this Section 5(f) shall only apply to the extent required to avoid the Eligible
Executive’s incurrence of any tax or interest under Section 409A of the Code or any regulations or Treasury guidance promulgated thereunder. If, notwithstanding the application of this Section 5(f) to one or more payments or benefits
provided under this Policy, the Eligible Executive would still incur any tax or interest under Section 409A of the Code or any regulations or Treasury guidance promulgated thereunder with respect to one or more payments or benefits provided
pursuant to the provisions of this Policy, the Company may reform such provisions to maintain to the maximum extent practicable the original intent of the applicable provisions without violating the provisions of Section 409A of the Code.

  
 Section 6. NON-COMPETITION

  
 (a) As an executive of the Company, each Eligible
Executive has acquired and will continue to acquire knowledge of sensitive and confidential information relating to product development road maps, marketing plans, competitive plans and pricing strategies and trade secrets (the “Confidential
Information”). The Confidential Information which the Company 

 has provided and will provide to an Eligible Executive could play a significant role were the Eligible Executive to
directly or indirectly be engaged in any business in Competition (as hereinafter defined) with the Company or its subsidiaries. As a condition to being entitled to any of the benefits described in Section 4 of this Policy, for a period of six
months following the date of Involuntary Termination, absent the prior written consent of the Company, an Eligible Executive shall not, directly or indirectly, either as principal, manager, agent, consultant, officer, stockholder, partner, investor,
lender or employee or in any other capacity, carry on, be engaged in or have any financial interest in (other than an ownership position of less than 2 percent in any company whose shares are publicly traded), any business, which is in Competition
with the existing business of the Company or its subsidiaries (“Competitive Activity”). 
  
 (b) For purposes of this Section 6, a business shall be deemed to be in “Competition” with the Company or its subsidiaries if it is
engaged in or has taken concrete steps toward engaging in the business of providing (A) software or systems that enable Internet connectivity or enable or provide data services on mobile devices (such as messaging and location or location
related services) to communication service providers or enterprise customers, whether the software is located on the server or the client (e.g., mobile device), or (B) messaging software to communication service providers, Internet service
providers or enterprise customers, either as carried on or being developed by the Company or its affiliates as of the date of the Eligible Executive’s Involuntary Termination, in all cities, counties, states and countries in which the business
of the Company or its affiliates is then being conducted or its products are being sold. 
  
 Section 7. RIGHT TO INTERPRET PLAN; AMENDMENT AND TERMINATION 
  
 (a) Exclusive Discretion. The Policy Administrator will have the
exclusive discretion and authority to establish rules, forms, and procedures for the administration of the Policy and to construe and interpret the Policy and to decide any and all questions of fact, interpretation, definition, computation or
administration arising in connection with the operation of the Policy, including, but not limited to, the eligibility to participate in the Policy and amount of benefits paid under the Policy. The rules, interpretations, computations and other
actions of the Policy Administrator will be binding and conclusive on all persons. 
  
 (b) Amendment or Termination. The Company reserves the right to amend or terminate this Policy or the benefits provided hereunder at any time; provided, however, that no such amendment or termination
will affect the right to any unpaid benefit of any Eligible Executive whose termination date has occurred prior to amendment or termination of the Policy. Any action amending or terminating the Policy will be in the form of a written resolution
adopted by either the Board or of the Compensation Committee of the Board. 
  
 Section 8. TERMINATION OF CERTAIN EMPLOYEE BENEFITS 
  
 All benefits (including but not limited to health insurance, life insurance, disability and 401(k) plan coverage) will terminate as of the Eligible
Executive’s termination date (except to the extent that a continuation or conversion privilege may be available thereunder). 

 Section 9. NO IMPLIED EMPLOYMENT CONTRACT

  
 The Company and the Eligible Executive acknowledge that
the Eligible Executive’s employment is and shall continue to be at-will, as defined under applicable law. If the Eligible Executive’s employment terminates for any reason other than an Involuntary Termination, the Eligible Executive shall
not be entitled to any benefits, damages, awards or compensation under Section 4 of this Policy, but may be entitled to payments or benefits in accordance with the Company’s other established employee plans and practices or pursuant to
other agreements with the Company. 
  
 Section 10.
SUCCESSORS 
  
 (a) Company’s
Successors. Any successor to the Company (whether direct or indirect and whether by purchase, merger, consolidation, liquidation or otherwise) to all or substantially all of the Company’s business and/or assets will assume the obligations
under this Policy and agree expressly to perform the obligations under this Policy in the same manner and to the same extent as the Company would be required to perform such obligations in the absence of a succession. For all purposes under this
Policy, the term “Company” will include any successor to the Company’s business and/or assets which executes and delivers the assumption agreement described in this Section 10(a) or which becomes bound by the terms of this Policy
by operation of law or otherwise. 
  
 (b) Eligible
Executive’s Successors. The terms of this Policy and all rights of the Eligible Executive hereunder will inure to the benefit of, and be enforceable by, the Executive’s personal or legal representatives, executors, administrators,
successors, heirs, distributees, devisees and legatees. 
  
 Section 11.
LEGAL CONSTRUCTION 
  
 This
Policy is intended to be governed by and will be construed in accordance with the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and, to the extent not preempted by ERISA, the laws of the State of California.

  
 Section 12. CLAIMS, INQUIRIES
AND APPEALS 
  
 (a)
Applications for Benefits and Inquiries. Any application for benefits, inquiries about the Policy or inquiries about present or future rights under the Policy must be submitted to the Policy Administrator in writing. 
  
 (b) Denial of Claims. In the event that any application for benefits
is denied in whole or in part, the Policy Administrator must notify the applicant, in writing, of the denial of the application, and of the applicant’s right to review the denial. The written notice of denial will be set forth in a manner
designed to be understood by the applicant and will include specific reasons for the denial, specific references to the Policy provision upon which the denial is based, a description of any information or material that the Policy Administrator needs
to complete the review and an explanation of the Policy’s review procedure. 

 This written notice will be given to the applicant within ninety (90) days after the Policy
Administrator receives the application, unless special circumstances require an extension of time, in which case, the Policy Administrator has up to an additional ninety (90) days for processing the application. If an extension of time for
processing is required, written notice of the extension will be furnished to the applicant before the end of the initial ninety (90) day period. 
  
 This notice of extension will describe the special circumstances necessitating the additional time and the date by which the Policy Administrator is to
render its decision on the application. If written notice of denial of the application for benefits is not furnished within the specified time, the application will be deemed to be denied. The applicant will then be permitted to appeal the denial in
accordance with the Review Procedure described below. 
  
 (c)
Request for a Review. Any person (or that person’s authorized representative) for whom an application for benefits is denied (or deemed denied), in whole or in part, may appeal the denial by submitting a request for a review to the Policy
Administrator within sixty (60) days after the application is denied (or deemed denied). The Policy Administrator will give the applicant (or his or her representative) an opportunity to review pertinent documents in preparing a request for a
review. A request for a review will be in writing and will be addressed to: 
  
 Openwave Systems Inc. 
 1400 Seaport Boulevard 
 Redwood City, California 94063 
 Attn: Vice President of Human Resources 
  
 A
request for review must set forth all of the grounds on which it is based, all facts in support of the request and any other matters that the applicant feels are pertinent. The Policy Administrator may require the applicant to submit additional
facts, documents or other material as it may find necessary or appropriate in making its review. 
  
 (d) Decision on Review. The Policy Administrator will act on each request for review within sixty (60) days after receipt of the request,
unless special circumstances require an extension of time (not to exceed an additional sixty (60) days), for processing the request for a review. If an extension for review is required, written notice of the extension will be furnished to the
applicant within the initial sixty (60) day period. The Policy Administrator will give prompt, written notice of its decision to the applicant. In the event that the Policy Administrator confirms the denial of the application for benefits in
whole or in part, the notice will outline, in a manner calculated to be understood by the applicant, the specific Policy provisions upon which the decision is based. If written notice of the Policy Administrator’s decision is not given to the
applicant within the time prescribed in this Subsection (d), the application will be deemed denied on review. 
  
 (e) Rules and Procedures. The Policy Administrator will establish rules and procedures, consistent with the Policy and with ERISA, as necessary and
appropriate in carrying out its responsibilities in reviewing benefit claims. The Policy Administrator may require an applicant who wishes to submit additional information in connection with an appeal from the denial (or deemed denial) of benefits
to do so at the applicant’s own expense. 

 (f) Exhaustion of Remedies. No legal action for benefits under the Policy may be brought until the
claimant (i) has submitted a written application for benefits in accordance with the procedures described by Section 12(a) above, (ii) has been notified by the Policy Administrator that the application is denied (or the application is
deemed denied due to the Policy Administrator’s failure to act on it within the established time period), (iii) has filed a written request for a review of the application in accordance with the appeal procedure described in
Section 12(c) above and (iv) has been notified in writing that the Policy Administrator has denied the appeal (or the appeal is deemed to be denied due to the Policy Administrator’s failure to take any action on the claim within the
time prescribed by Section 12(d) above). 
  
 Section 13.
BASIS OF PAYMENTS TO AND FROM PLAN 
  
 All benefits under the Policy will be paid by the Company. The Policy will be unfunded, and benefits hereunder will be paid only from the general assets
of the Company. 
  
 Section 14. OTHER POLICY
INFORMATION 
  
 (a) Employer Identification
Numbers. The Employer Identification Number assigned to the Company (which is the “Policy Sponsor” as that term is used in ERISA) by the Internal Revenue Service is 94-3219054. 
  
 (b) Agent for the Service of Legal Process. The agent for the service
of legal process with respect to the Policy is Openwave Systems Inc., 1400 Seaport Boulevard, Redwood City, California, 94063. 
  
 (c) Policy Sponsor and Administrator. The “Policy Sponsor” and the “Policy Administrator” of the Policy is Openwave Systems
Inc., 1400 Seaport Boulevard, Redwood City, California, 94063. The Policy Sponsor’s and Policy Administrator’s telephone number is (650) 480-8000. The Policy Administrator is the named fiduciary charged with the responsibility for
administering the Policy. 
  
 SECTION 15.
MISCELLANEOUS 
  
 (a) Notice. Notices
and all other communications contemplated by this Policy will be in writing and will be deemed to have been duly given either (i) when personally delivered or sent by facsimile or (ii) five (5) days after being mailed by U.S.
registered or certified mail, return receipt requested and postage prepaid. In the case of the Eligible Executive, mailed notices shall be addressed to him or her at the home address or facsimile number which he or she most recently communicated to
the Company in writing. In the case of the Company, mailed notices or notices sent by facsimile shall be addressed to its corporate headquarters, and all notices shall be directed to the attention of its General Counsel. 
  
 (b) No Waiver. The failure of a party to insist upon strict adherence
to any term of this Policy on any occasion shall not be considered a waiver of such party’s rights or deprive such party of the right thereafter to insist upon strict adherence to that term or any other term of this Policy. 

 (c) Severability. In the event that any one or more of the provisions of this Policy shall be or
become invalid, illegal or unenforceable in any respect or to any degree, the validity, legality and enforceability of the remaining provisions of this Policy shall not be affected thereby. The parties intend to give the terms of this Policy the
fullest force and effect so that is any provision shall be found to be invalid or unenforceable, the court reaching such conclusion may modify or interpret such provision in a manner that shall carry out the parties’ intent and shall be valid
and enforceable. 
  
 (d) Headings. The headings of the
sections hereof are inserted for convenience only and shall not be deemed to constitute a part hereof or to affect the meaning thereof. 
  
 (e) Specific Performance. If in the opinion of any court of competent jurisdiction the covenants described in Sections 5(c) and 6 of this Policy
are not reasonable in any respect, such court shall have the right, power and authority to excise or modify such provision or provisions of this covenant as to the court shall appear not reasonable and to enforce the remainder of the covenant as so
amended. Any breach of the covenants contained in Sections 5(c) and 6 would irreparably injure the Company. Accordingly, the Company’s remedies at law for a breach or threatened breach of any of the provisions of Section 5(c) and 6 would
be inadequate and, in the event of such a breach or threatened breach, the Company may, without posting any bond, in addition to pursuing any other remedies it may have in law or in equity, obtain equitable relief in the form of specific
performance, temporary restraining order, temporary or permanent injunction or any other equitable remedy which may then be available against the Eligible Executive from any court having jurisdiction over the matter, restraining any further
violation of this Policy by the Eligible Executive. 
  
 (f)
Withholding Taxes. The Company may withhold from any amounts payable under this Policy such federal, state and local taxes as may be required to be withheld pursuant to any applicable law or regulation. 
  
 SECTION 16. EXECUTION 
  
 To record the adoption of the Policy as set forth herein, amended effective
as of October 6, 2005, Openwave Systems Inc. has caused its duly authorized officer to execute the same. 

 EXHIBIT A 
  
 RELEASE 
 (Individual Termination, Eligible Executive age 40 or older) 
  
 I understand and agree completely to the terms set forth in the Openwave Systems Inc. Executive Severance Benefit Policy (the “Policy”). Certain capitalized terms used in this Release are defined in the
Policy. 
  
 I hereby confirm my obligations under the form of the
Company’s Confidential Information and Invention Assignment Agreement, which I have previously signed. 
  
 I agree not to make any public statement or statements to the press concerning Openwave Systems Inc. (“Openwave”), its business objectives, its
management practices, or other sensitive information without first receiving Openwave’s written approval. I further agree to take no action which would cause Openwave or its employees or agents any embarrassment or humiliation or otherwise
cause or contribute to Openwave’s or any such person’s being held in disrepute by the general public or Openwave’s employees, clients, or customers. 
  
 As an executive of the Company, I have acquired knowledge of sensitive and confidential information relating to product
development road maps, marketing plans, competitive plans and pricing strategies and trade secrets (the “Confidential Information”). I acknowledge that the Confidential Information which Openwave has provided to me could play a significant
role were I to directly or indirectly be engaged in any business in Competition (as defined in the Policy) with Openwave or its subsidiaries. As a condition to being entitled to any of the benefits described in Section 4 of the Policy, for a
period of six months following the date of my Involuntary Termination, I agree that, without the prior written consent of Openwave, I will not, directly or indirectly, either as principal, manager, agent, consultant, officer, stockholder, partner,
investor, lender or employee or in any other capacity, engage in any Competitive Activity (as defined in the Policy). 
  
 I agree that if during the six months following the date of my Involuntary Termination, I engage in Competitive Activity, such Competitive Activity shall
inevitably result in the disclosure of Openwave’s Confidential Information. 
  
 I acknowledge that I have read and understand Section 1542 of the California Civil Code which reads as follows: “A general release does not extend to claims which the creditor does not know or suspect to
exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor.” I hereby expressly waive and relinquish all rights and benefits under that section and any law of
any jurisdiction of similar effect with respect to my release of any claims I may have against the Company. 
  
 Except as otherwise set forth in this Release, I, on behalf of myself and my heirs, estate, executors, administrators, successors and assigns, do hereby
release, acquit and forever discharge Openwave, its parents and subsidiaries, and their officers, directors, agents, servants, employees, shareholders, successors, assigns and affiliates, of and from any and all claims, liabilities, 

 demands, causes of action, costs, expenses, attorneys fees, damages, indemnities and obligations of every kind and
nature, in law, equity, or otherwise, known and unknown, suspected and unsuspected, disclosed and undisclosed (other than any claim for indemnification I may have as a result of any third party action against me based on my employment with the
Company), arising out of or in any way related to agreements, events, acts or conduct at any time prior to and including the date I execute this Release, including, but not limited to: all such claims and demands directly or indirectly arising out
of or in any way connected with my employment with the Company or the termination of that employment, including but not limited to, claims of intentional and negligent infliction of emotional distress, any and all tort claims for personal injury,
claims or demands related to salary, bonuses, commissions, stock, stock options, or any other ownership interests in the Company, vacation pay, fringe benefits, expense reimbursements, severance pay, or any other form of compensation; claims
pursuant to any federal, state or local law or cause of action including, but not limited to, the federal Civil Rights Act of 1964, the federal Age Discrimination in Employment Act of 1967 (“ADEA”), the federal Employee Retirement Income
Security Act of 1974, the federal Rehabilitation Act of 1973, the federal Americans with Disabilities Act of 1990, the federal Fair Labor Standards Act, the federal Family Medical Leave Act, the California Fair Employment and Housing Act, and any
amendments to the foregoing laws; tort law; contract law; wrongful discharge; discrimination; fraud; defamation; emotional distress; and breach of the implied covenant of good faith and fair dealing; provided, however, that nothing in this
paragraph shall be construed in any way to release the Company from its obligation to indemnify me pursuant to the Company’s indemnification obligation pursuant to agreement or applicable law. 
  
 I agree that the claims released pursuant to this Agreement include all
claims against individual employees of Openwave, whether or not such employees were acting within the scope of their employment. 
  
 At Openwave’s request, I agree to cooperate fully in connection with any legal matter, proceeding or action relating to Openwave. 
  
 I acknowledge that I am knowingly and voluntarily waiving and releasing any
rights I may have under ADEA. I also acknowledge that the consideration given under the Policy for the waiver and release in the preceding paragraph hereof is in addition to anything of value to which I was already entitled. I further acknowledge
that I have been advised by this writing, as required by the ADEA, that: (A) my waiver and release do not apply to any rights or claims that may arise on or after the date I execute this Release; (B) I have the right to consult with an
attorney prior to executing this Release; (C) I have twenty-one (21) days to consider this Release (although I may choose to voluntarily execute this Release earlier); (D) I have seven (7) days following my execution of this
Release to revoke the Release; and (E) this Release shall not be effective until the date upon which the revocation period has expired, which shall be the eighth (8th) day after I execute this Release. 

 EXHIBIT B 
  
 RELEASE 
 (Individual and Group Termination, Eligible Executive under age 40) 
  
 I understand and agree completely to the terms set forth in the Openwave Systems, Inc. Executive Severance Benefit Policy (the “Policy”). Certain capitalized terms used in this Release are defined in the
Policy. 
  
 I hereby confirm my obligations under the form of the
Company’s Confidential Information and Invention Assignment Agreement, which I have previously signed. 
  
 I agree not to make any public statement or statements to the press concerning Openwave Systems Inc. (“Openwave”), its business objectives, its
management practices, or other sensitive information without first receiving Openwave’s written approval. I further agree to take no action which would cause Openwave or its employees or agents any embarrassment or humiliation or otherwise
cause or contribute to Openwave’s or any such person’s being held in disrepute by the general public or Openwave’s employees, clients, or customers. 
  
 As an executive of the Company, I have acquired knowledge of sensitive and confidential information relating to product
development road maps, marketing plans, competitive plans and pricing strategies and trade secrets (the “Confidential Information”). I acknowledge that the Confidential Information which Openwave has provided to me could play a significant
role were I to directly or indirectly be engaged in any business in Competition (as defined in the Policy) with Openwave or its subsidiaries. As a condition to being entitled to any of the benefits described in Section 4 of the Policy, for a
period of six months following the date of my Involuntary Termination, I agree that, without the prior written consent of Openwave, I will not, directly or indirectly, either as principal, manager, agent, consultant, officer, stockholder, partner,
investor, lender or employee or in any other capacity, engage in any Competitive Activity (as defined in the Policy). 
  
 I agree that if during the six months following the date of my Involuntary Termination, I engage in Competitive Activity, such Competitive Activity shall
inevitably result in the disclosure of Openwave’s Confidential Information. 
  
 I acknowledge that I have read and understand Section 1542 of the California Civil Code which reads as follows: “A general release does not extend to claims which the creditor does not know or suspect to
exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor.” I hereby expressly waive and relinquish all rights and benefits under that section and any law of
any jurisdiction of similar effect with respect to my release of any claims I may have against the Company. 
  
 Except as otherwise set forth in this Release, I, on behalf of myself and my heirs, estate, executors, administrators, successors and assigns, do hereby
release, acquit and forever discharge the Company, its parents and subsidiaries, and their officers, directors, agents, servants, employees, shareholders, successors, assigns and affiliates, of and from any and all claims, liabilities, demands,
causes of action, costs, expenses, attorneys fees, damages, indemnities and 

 obligations of every kind and nature, in law, equity, or otherwise, known and unknown, suspected and unsuspected,
disclosed and undisclosed (other than any claim for indemnification I may have as a result of any third party action against me based on my employment with the Company), arising out of or in any way related to agreements, events, acts or conduct at
any time prior to and including the date I execute this Release, including, but not limited to: all such claims and demands directly or indirectly arising out of or in any way connected with my employment with the Company or the termination of that
employment, including, but not limited to, claims of intentional and negligent infliction of emotional distress, any and all tort claims for personal injury, claims or demands related to salary, bonuses, commissions, stock, stock options, or any
other ownership interests in the Company, vacation pay, fringe benefits, expense reimbursements, severance pay, or any other form of compensation; claims pursuant to any federal, state or local law or cause of action including, but not limited to,
the federal Civil Rights Act of 1964, the federal Age Discrimination in Employment Act of 1967 (“ADEA”), the federal Employee Retirement Income Security Act of 1974, the federal Rehabilitation Act of 1973, the federal Americans with
Disabilities Act of 1990, the federal Fair Labor Standards Act, the federal Family Medical Leave Act; the California Fair Employment and Housing Act, and any amendments to the foregoing laws; tort law; contract law; wrongful discharge;
discrimination; fraud; defamation; emotional distress; and breach of the implied covenant of good faith and fair dealing; provided, however, that nothing in this paragraph shall be construed in any way to release the Company from its
obligation to indemnify me pursuant to the Company’s indemnification obligation pursuant to agreement or applicable law. 
  
 I agree that the claims released pursuant to this Agreement include all claims against individual employees of Openwave, whether or not such employees
were acting within the scope of their employment. 
  
 At
Openwave’s request, I agree to cooperate fully in connection with any legal matter, proceeding or action relating to Openwave. 
  
 I understand that I have seven (7) days to consider this Release (although I may voluntarily execute the Release earlier). 

 EXHIBIT C 
  
 RELEASE 
 (Group Termination, Eligible Executive age 40 or older) 
  
 I understand and agree completely to the terms set forth in the Openwave Systems Inc. Executive Severance Benefit Policy (the “Policy”). Certain capitalized terms used in this Release are defined in the Policy. 
  
 I hereby confirm my obligations under the form of the Company’s
Confidential Information and Invention Assignment Agreement, which I have previously signed. 
  
 I agree not to make any public statement or statements to the press concerning Openwave Systems Inc. (“Openwave”), its business objectives, its management practices, or other sensitive information without
first receiving Openwave’s written approval. I further agree to take no action which would cause Openwave or its employees or agents any embarrassment or humiliation or otherwise cause or contribute to Openwave’s or any such person’s
being held in disrepute by the general public or Openwave’s employees, clients, or customers. 
  
 As an executive of the Company, I have acquired knowledge of sensitive and confidential information relating to product development road maps, marketing
plans, competitive plans and pricing strategies and trade secrets (the “Confidential Information”). I acknowledge that the Confidential Information which Openwave has provided to me could play a significant role were I to directly or
indirectly be engaged in any business in Competition (as defined in the Policy) with Openwave or its subsidiaries. As a condition to being entitled to any of the benefits described in Section 4 of the Policy, for a period of six months
following the date of my Involuntary Termination, I agree that, without the prior written consent of Openwave, I will not, directly or indirectly, either as principal, manager, agent, consultant, officer, stockholder, partner, investor, lender or
employee or in any other capacity, engage in any Competitive Activity (as defined in the Policy). 
  
 I agree that if during the six months following the date of my Involuntary Termination, I engage in Competitive Activity, such Competitive Activity shall
inevitably result in the disclosure of Openwave’s Confidential Information. 
  
 I acknowledge that I have read and understand Section 1542 of the California Civil Code which reads as follows: “A general release does not extend to claims which the creditor does not know or suspect to
exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor.” I hereby expressly waive and relinquish all rights and benefits under that section and any law of
any jurisdiction of similar effect with respect to my release of any claims I may have against the Company. 
  
 Except as otherwise set forth in this Release, I, on behalf of myself and my heirs, estate, executors, administrators, successors and assigns, do hereby
release, acquit and forever discharge the Company, its parents and subsidiaries, and their officers, directors, agents, servants, employees, shareholders, successors, assigns and affiliates, of and from any and all claims, 

 liabilities, demands, causes of action, costs, expenses, attorneys fees, damages, indemnities and obligations of every
kind and nature, in law, equity, or otherwise, known and unknown, suspected and unsuspected, disclosed and undisclosed (other than any claim for indemnification I may have as a result of any third party action against me based on my employment with
the Company), arising out of or in any way related to agreements, events, acts or conduct at any time prior to and including the date I execute this Release, including, but not limited to: all such claims and demands directly or indirectly arising
out of or in any way connected with my employment with the Company or the termination of that employment, including, but not limited to, claims of intentional and negligent infliction of emotional distress, any and all tort claims for personal
injury, claims or demands related to salary, bonuses, commissions, stock, stock options, or any other ownership interests in the Company, vacation pay, fringe benefits, expense reimbursements, severance pay, or any other form of compensation; claims
pursuant to any federal, state or local law or cause of action including, but not limited to, the federal Civil Rights Act of 1964, the federal Age Discrimination in Employment Act of 1967 (“ADEA”), the federal Employee Retirement Income
Security Act of 1974, the federal Rehabilitation Act of 1973, the federal Americans with Disabilities Act of 1990, the federal Fair Labor Standards Act, the federal Family Medical Leave Act, the California Fair Employment and Housing Act, and any
amendments to the foregoing laws; tort law; contract law; wrongful discharge; discrimination; fraud; defamation; emotional distress; and breach of the implied covenant of good faith and fair dealing; provided, however, that nothing in this
paragraph shall be construed in any way to release the Company from its obligation to indemnify me pursuant to the Company’s indemnification obligation pursuant to agreement or applicable law. 
  
 I agree that the claims released pursuant to this Agreement include all
claims against individual employees of Openwave, whether or not such employees were acting within the scope of their employment. 
  
 At Openwave’s request, I agree to cooperate fully in connection with any legal matter, proceeding or action relating to Openwave. 
  
 I acknowledge that I am knowingly and voluntarily waiving and releasing any
rights I may have under ADEA. I also acknowledge that the consideration given under the Policy for the waiver and release in the preceding paragraph hereof is in addition to anything of value to which I was already entitled. I further acknowledge
that I have been advised by this writing, as required by the ADEA, that: (A) my waiver and release do not apply to any rights or claims that may arise on or after the date I execute this Release; (B) I have the right to consult with an
attorney prior to executing this Release; (C) I have forty-five (45) days to consider this Release (although I may choose to voluntarily execute this Release earlier); (D) I have seven (7) days following my execution of this
Release to revoke the Release; (E) this Release shall not be effective until the date upon which the revocation period has expired, which shall be the eighth day (8th) after I execute this Release; and (F) I have received with this
Release a detailed list of the job titles and ages of all employees who were terminated in this group termination and the ages of all employees of the Company in the same job classification or organizational unit who were not terminated.

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