Document:

EX-4.7

 Exhibit 4.7 
  

 
  

AMERICAN EXPRESS ISSUANCE TRUST II 
 as Issuer 
 and 

THE BANK OF NEW YORK MELLON 
 as Indenture Trustee and as Securities Intermediary 
 SERIES 2013-1 INDENTURE
SUPPLEMENT 
 dated as of March 21, 2013 
 to 
 AMENDED AND RESTATED INDENTURE 

dated as of March 12, 2013 
  

 
  

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	ARTICLE I	  			
	DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	  			
		
	 Section 1.01 Designation
	  	 	1	  
		
	 Section 1.02 Documentation
	  	 	2	  
		
	ARTICLE II	  			
	DEFINITIONS	  			
		
	 Section 2.01 Definitions
	  	 	3	  
		
	 Section 2.02 Governing Law
	  	 	19	  
		
	 Section 2.03 Counterparts
	  	 	19	  
		
	 Section 2.04 Ratification of Indenture
	  	 	19	  
		
	ARTICLE III	  			
	SERVICING COMPENSATION	  			
		
	 Section 3.01 Servicing Compensation
	  	 	20	  
		
	ARTICLE IV	  			
	 RIGHTS OF SERIES 2013-1 NOTEHOLDERS AND ALLOCATION AND

APPLICATION OF COLLECTIONS
	  			
		
	 Section 4.01 Collections and Allocations
	  	 	21	  
		
	 Section 4.02 Determination of Monthly Interest
	  	 	21	  
		
	 Section 4.03 Determination of Monthly Principal
	  	 	23	  
		
	 Section 4.04 Reallocated Finance Charge Collections
	  	 	23	  
		
	 Section 4.05 Application of Available Funds on Deposit in the Collection Account
	  	 	24	  
		
	 Section 4.06 Application of Series 2013-1 Available Principal Collections
	  	 	26	  
		
	 Section 4.07 Principal Funding Account; Controlled Accumulation Period
	  	 	27	  
		
	 Section 4.08 Investor Charge-Offs
	  	 	29	  
		
	 Section 4.09 Reallocated Principal Collections
	  	 	29	  
		
	 Section 4.10 Shared Excess Available Finance Charge Collections
	  	 	29	  
		
	 Section 4.11 Shared Excess Available Principal Collections
	  	 	30	  
		
	 Section 4.12 Accumulation Reserve Account
	  	 	30	  
		
	 Section 4.13 Class C Reserve Account
	  	 	32	  
		
	 Section 4.14 Investment Instructions
	  	 	35	  
		
	 Section 4.15 Determination of LIBOR
	  	 	35	  

  
 -i-

 TABLE OF CONTENTS 

(continued) 
  

					
	 	  	Page	 
	 Section 4.16 Sale of Collateral for Series 2013-1 Notes That Are Accelerated or Reach Legal Maturity
	  	 	36	  
		
	ARTICLE V	  			
	EARLY AMORTIZATION OF NOTES	  			
		
	 Section 5.01 Early Amortization Events
	  	 	38	  
		
	ARTICLE VI	  			
	LEGAL MATURITY; FINAL DISTRIBUTIONS	  			
		
	 Section 6.01 Legal Maturity
	  	 	39	  
		
	ARTICLE VII	  			
	 DELIVERY OF SERIES 2013-1 NOTES; DISTRIBUTIONS

AND REPORTS TO SERIES 2013-1 NOTEHOLDERS
	  			
		
	 Section 7.01 Form of Delivery for the Series 2013-1 Notes; Depository; Denominations
	  	 	40	  
		
	 Section 7.02 Delivery and Payment for the Series 2013-1 Notes
	  	 	40	  
		
	 Section 7.03 Distributions
	  	 	40	  
		
	 Section 7.04 Reports and Statements to Series 2013-1 Noteholders
	  	 	41	  
		
	ARTICLE VIII	  			
	MISCELLANEOUS PROVISIONS	  			
		
	 Section 8.01 No Petition
	  	 	43	  
		
	 Section 8.02 Actions by the Issuer
	  	 	43	  
		
	 Section 8.03 Limitations on Liability
	  	 	43	  
		
	 Section 8.04 Termination of Issuer
	  	 	43	  
		
	 Section 8.05 Acknowledgement and Acceptance of Indenture
	  	 	44	  
		
	 Section 8.06 Amendments
	  	 	44	  

 LIST OF EXHIBITS 
 Exhibit A-1 Form of Class A Note 
 Exhibit A-2 Form of Class B Note 

Exhibit A-3 Form of Class C Note 
 Exhibit B-1
Form of Monthly Noteholders’ Statement 
 Exhibit B-2 Form of Annual Payment Information 

Exhibit C Form of Monthly Servicer’s Certificate 

  
 -ii-

 This SERIES 2013-1 INDENTURE SUPPLEMENT, dated as of March 21, 2013 (this
“Indenture Supplement”), by and between AMERICAN EXPRESS ISSUANCE TRUST II, a statutory trust organized under the laws of the State of Delaware (the “Issuer”), having its principal office at Rodney Square North,
1100 North Market Street, Wilmington, Delaware 19890-1600, and THE BANK OF NEW YORK MELLON, a New York banking corporation, in its capacity as Indenture Trustee (the “Indenture Trustee”) and as the initial Securities Intermediary,
is made and entered into as of March 21, 2013. 
 Pursuant to this Indenture Supplement, the Issuer shall create a new
Series of Notes and shall specify the principal terms thereof. The Issuer has tendered the notice of issuance required by subsection 4.10(a)(i) of the Indenture and this Indenture Supplement is being entered into between the Issuer and the
Indenture Trustee as required by subsection 4.10(a)(viii) of the Indenture to provide for the issuance, authentication and delivery of each of the Class A Notes, Series 2013-1, the Class B Notes, Series 2013-1 and the Class C Notes,
Series 2013-1. 
 The transactions set forth in this Indenture Supplement, together with the Transaction Documents, shall be an
arm’s length, bona fide securitization transaction. 
 ARTICLE I 

DEFINITIONS AND OTHER PROVISIONS 
 OF GENERAL APPLICATION 
 Section 1.01 Designation. (a) There is
hereby created a Series of Notes to be issued pursuant to the Indenture and this Indenture Supplement to be known as “American Express Issuance Trust II, Series 2013-1” or the “Series 2013-1 Notes.” The Series 2013-1 Notes shall
be issued in three Classes, the first of which shall be known as the “Class A Series 2013-1 Floating Rate Asset Backed Notes,” the second of which shall be known as the “Class B Series 2013-1 Floating Rate Asset Backed Notes” and
the third of which shall be known as the “Class C Series 2013-1 Floating Rate Asset Backed Notes.” The Series 2013-1 Notes shall be due and payable on the Legal Maturity Date. 

(b) The Series 2013-1 Notes shall be secured by the Collateral. Series 2013-1 shall be included in Reallocation Group A. Series 2013-1
shall be a Shared Excess Available Finance Charge Collections Series and shall be included in Shared Excess Available Finance Charge Collections Group A. Series 2013-1 shall be a Shared Excess Available Principal Collections Series and shall be
included in Shared Excess Available Principal Collections Group A. Series 2013-1 shall not be in any other Group (as defined in the Indenture). Series 2013-1 shall not be subordinated to any other Series of Notes. Notwithstanding any provision in
the Indenture or in this Indenture Supplement to the contrary, the first Payment Date with respect to Series 2013-1 shall be the April 2013 Payment Date, and the first Monthly Period shall begin on and include the Closing Date and end on and include
March 25, 2013. 
 (c) For the avoidance of doubt, the parties agree that the payment of principal and interest on the
Series 2013-1 Notes shall be primarily based on the performance of the 

 
Receivables and, except for Derivative Agreements addressing interest rate or currency mismatches between the Receivables and the Series 2013-1 Notes, shall not be contingent on market or credit
events that are independent of the Receivables. 
 (d) The Series 2013-1 Notes shall not be predominantly sold to an affiliate
(other than a wholly-owned subsidiary consolidated for accounting purposes with an Account Owner) or insider of an Account Owner. 
 (e) Series 2013-1 shall be a Repurchase Reporting Series. 
 Section 1.02
Documentation. This Indenture Supplement, together with the Transaction Documents, shall (a) define the contractual rights and obligations of the parties, including, but not limited to, representations and warranties and ongoing
disclosure requirements, and any measures to avoid conflicts of interest; and (b) provide authority for the parties, including, but not limited to, the Account Owners, the Servicer and the Series 2013-1 Noteholders to fulfill their respective
duties and exercise their rights under the contracts and clearly distinguish between any multiple roles performed by any party. 

[END OF ARTICLE I] 

  
 2 

 ARTICLE II 
 DEFINITIONS 
 Section 2.01 Definitions. For all purposes of this
Indenture Supplement, 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, along with any other term defined in any Section of this Indenture
Supplement, include the plural as well as the singular; 

  

	 	(2)	all other terms used herein which are defined in the Indenture, the Transfer Agreement or the Servicing Agreement, 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 Indenture Supplement to designated “Articles,” “Sections” and other subdivisions are to the designated Articles, Sections and
other subdivisions of this Indenture Supplement. The words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Indenture Supplement as a whole and not to any particular Article, Section or
other subdivision; 

  

	 	(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, the Transfer
Agreement or the Servicing Agreement, the terms and provisions of this Indenture Supplement shall be controlling; 

  

	 	(6)	each capitalized term defined herein shall relate only to the Series 2013-1 Notes and no other Series of Notes issued by the Issuer; and 

 

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

“Account” has the meaning specified in the Transfer Agreement. 

“Account Owner” has the meaning specified in the Transfer Agreement. 

“Accumulation Reserve Account” shall have the meaning specified in subsection 4.12(a). 

  
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 “Accumulation Reserve Account Funding Date” shall mean the
Payment Date prior to the Payment Date with respect to the first Monthly Period in the Controlled Accumulation Period. 

“Accumulation Reserve Account Surplus” shall mean, as of any date of determination, the amount, if any, by which
the amount on deposit in the Accumulation Reserve Account exceeds the Required Accumulation Reserve Account Amount. 

“Accumulation Reserve Draw Amount” shall have the meaning specified in subsection 4.12(c). 

“Additional Interest” means, with respect to any Payment Date, any Class A Additional Interest, any Class B
Additional Interest and any Class C Additional Interest for such Payment Date. 
 “Adjusted Outstanding Dollar Principal
Amount” means, as of any date of determination, the Outstanding Dollar Principal Amount of the Series 2013-1 Notes on such date of determination, less any funds on deposit in the Principal Funding Account for the benefit of such Series
2013-1 Notes on such date of determination. 
 “Administrator” means TRS, in its capacity as administrator of
the Trust, and any successors or assigns thereto. 
 “Adverse Effect” has the meaning specified in the
Indenture. 
 “Aggregate Series Available Finance Charge Collections Shortfall” means, with respect to any
Monthly Period as determined on the related Note Transfer Date, the sum of the Series Available Finance Charge Collections Shortfalls (as such term is defined in each of the applicable Indenture Supplements) for each Shared Excess Available Finance
Charge Collections Series in Shared Excess Available Finance Charge Collections Group A for such Monthly Period. 

“Aggregate Series Available Principal Collections Shortfall” means, with respect to any Monthly Period as determined on
the related Note Transfer Date, the sum of the Series Available Principal Collections Shortfalls (as such term is defined in each of the applicable Indenture Supplements) for each Shared Excess Available Principal Collections Series in Shared Excess
Available Principal Collections Group A for such Monthly Period. 
 “Available Accumulation Reserve Account
Amount” means, for any Payment Date, the lesser of (a) the amount on deposit in the Accumulation Reserve Account on such date (before giving effect to any deposit to be made to the Accumulation Reserve Account on such date) and
(b) the Required Accumulation Reserve Account Amount. 
 “Available Class C Reserve Account Amount” means,
for any Payment Date, the lesser of (a) the amount on deposit in the Class C Reserve Account on such date (before giving effect to any deposit to be made to the Class C Reserve Account on such date) and (b) the Required Class C Reserve
Account Amount. 

  
 4 

 “Available Principal Collections” means, with respect to the Series 2013-1
Notes, the Series 2013-1 Available Principal Collections and has, with respect to any other Series of Notes, the meaning specified in the applicable Indenture Supplement for such Series of Notes. 

“Bankruptcy Code” means the United States Bankruptcy Code located in Title 11 of the United States Code. 

“Base Rate” means, with respect to any Monthly Period, the sum of (i) the annualized percentage equivalent of a
fraction, the numerator of which is equal to the sum of the Class A Monthly Interest, the Class B Monthly Interest and the Class C Monthly Interest for such Monthly Period and the denominator of which is the Outstanding Dollar Principal Amount
as of the last day of the preceding Monthly Period and (ii) the Servicing Fee Percentage for such Monthly Period. 

“Business Day” has the meaning specified in the Indenture. 

“Class” means the Class A Notes, the Class B Notes or the Class C Notes, as applicable. 

“Class A Additional Interest” has the meaning specified in subsection 4.02(a). 

“Class A Interest Shortfall” has the meaning specified in subsection 4.02(a). 

“Class A Monthly Interest” has the meaning specified in subsection 4.02(a). 

“Class A Note” means any one of the Notes substantially in the form of Exhibit A-1, which is duly executed and
authenticated in accordance with the Indenture. 
 “Class A Note Interest Rate” means, for any Interest Period
with respect to the Class A Notes, a per annum rate equal to LIBOR plus 0.28%. 
 “Class A
Noteholder” means the Person in whose name a Class A Note is registered in the Note Register. 
 “Class A
Stated Principal Amount” means $500,000,000. 
 “Class B Additional Interest” has the meaning
specified in subsection 4.02(b). 
 “Class B Interest Shortfall” has the meaning specified in
subsection 4.02(b). 
 “Class B Monthly Interest” has the meaning specified in subsection
4.02(b). 
 “Class B Note” means any one of the Notes substantially in the form of Exhibit A-2, which is
duly executed and authenticated in accordance with the Indenture. 
 “Class B Note Interest Rate” means, for
any Interest Period with respect to the Class B Notes, a per annum rate equal to LIBOR plus 0.45%. 

  
 5 

 “Class B Noteholder” means the Person in whose name a Class B Note is
registered in the Note Register. 
 “Class B Stated Principal Amount” means $22,222,000. 

“Class C Additional Interest” has the meaning specified in subsection 4.02(c). 

“Class C Interest Shortfall” has the meaning specified in subsection 4.02(c). 

“Class C Monthly Interest” has the meaning specified in subsection 4.02(c). 

“Class C Note” means any one of the Notes substantially in the form of Exhibit A-3, which is duly executed and
authenticated in accordance with the Indenture. 
 “Class C Note Interest Rate” means, for any Interest Period
with respect to the Class C Notes, a per annum rate equal to LIBOR plus 0.70%. 
 “Class C
Noteholder” means the Person in whose name a Class C Note is registered in the Note Register. 
 “Class C
Reserve Account” shall have the meaning specified in subsection 4.13(a). 
 “Class C Reserve Account
Percentage” means, (i) 0.00% if the Quarterly Excess Spread Percentage on such Payment Date is greater than 4.00%, (ii) 1.00% if the Quarterly Excess Spread Percentage on such Payment Date is equal to or less than 4.00% and
greater than 3.50%, (iii) 1.50% if the Quarterly Excess Spread Percentage on such Payment Date is equal to or less than 3.50% and greater than 3.00%, (iv) 2.00% if the Quarterly Excess Spread Percentage on such Payment Date is equal to or
less than 3.00% and greater than 2.00%, (v) 3.00% if the Quarterly Excess Spread Percentage on such Payment Date is equal to or less than 2.00% and greater than 1.00% and (vi) 4.00% if the Quarterly Excess Spread Percentage on such Payment
Date is equal to or less than 1.00% and greater than or equal to 0.00%; provided, however, that, for any Payment Date with respect to which the Quarterly Principal Payment Rate is equal to or less than 60%, the Class C
Reserve Account Percentage shall be the greater of (a) 1.00% of the Initial Dollar Principal Amount and (b) the applicable percentage specified in clauses (i) through (vi) above. 

“Class C Stated Principal Amount” means $33,334,000. 

“Closing Date” means March 21, 2013; provided that, for purposes of determining the date on which the first
Monthly Period begins, the Closing Date shall be deemed to be the close of business on the second day following the last day of the seventh billing cycle applicable to the Accounts ending in February 2013. 

“Collateral” has the meaning specified in the Granting Clause of the Indenture. 

“Collateral Certificate” has the meaning specified in the Transfer Agreement. 

  
 6 

 “Collection Account” has the meaning specified in the Indenture.

 “Controlled Accumulation Amount” means $277,778,000; provided, however, that if the Transferor
elects to postpone the commencement of the Controlled Accumulation Period in accordance with subsection 4.07(c), $555,556,000. 
 “Controlled Accumulation Period” means, unless an Early Amortization Event shall have occurred prior thereto, the period beginning at the close of business on the last day of the December
2017 Monthly Period or such later date as is determined in accordance with subsection 4.07(c) and ending on the earlier to occur of (a) the commencement of the Early Amortization Period and (b) the payment in full of the Stated
Principal Amount of, and any Monthly Interest due on, the Series 2013-1 Notes. 
 “Controlled Accumulation Period
Length” has the meaning specified in subsection 4.07(c). 
 “Controlled Deposit Amount” means,
for any Payment Date with respect to the Controlled Accumulation Period, an amount equal to the sum of the Controlled Accumulation Amount for such Payment Date and any Deficit Controlled Accumulation Amount for the immediately preceding Payment
Date. 
 “Corporate Trust Office” has the meaning specified in the Servicing Agreement. 

“Covered Amount” means, for any Payment Date with respect to the Controlled Accumulation Period, an amount equal to the
sum of (a) one-twelfth of the product of (i) the Class A Note Interest Rate and (ii) the Principal Funding Account Balance, if any, as of the preceding Payment Date, up to the Outstanding Dollar Principal Amount of the
Class A Notes, (b) the product of (i) the Class B Note Interest Rate in effect with respect to such Interest Period, (ii) a fraction, the numerator of which is the actual number of days from and including the prior Payment Date
to but excluding the then current Payment Date and the denominator of which is 360 and (iii) the lesser of (x) the Principal Funding Account Balance, if any, as of the preceding Payment Date in excess of the Outstanding Dollar Principal
Amount of the Class A Notes and (y) the Outstanding Dollar Principal Amount of the Class B Notes as of the last day of the immediately preceding Monthly Period, and (c) the product of (i) the Class C Note Interest Rate in effect
with respect to such Interest Period, (ii) a fraction, the numerator of which is the actual number of days from and including the prior Payment Date to but excluding the then current Payment Date and the denominator of which is 360 and
(iii) the lesser of (x) the Principal Funding Account Balance, if any, as of the preceding Payment Date in excess of the sum of the Outstanding Dollar Principal Amount of the Class A Notes and Class B Notes and (y) the
Outstanding Dollar Principal Amount of the Class C Notes as of the last day of the immediately preceding Monthly Period. 

“Credit Risk and Performance Disclosure” means written information that the Issuer shall cause to be distributed about
the Notes and the Receivables at the financial asset or pool level, as appropriate for the financial assets, and security-level to enable evaluation and analysis of the credit risk and performance of the Notes and the Receivables, which information
and its disclosure, at a minimum, shall comply with the requirements of Regulation AB (to the 

  
 7 

 
extent then in effect) or any successor disclosure requirements for public issuances, even if the Notes are issued in a private placement or are not otherwise required to be registered;
provided, that information that is unknown or not available to the Issuer after reasonable investigation may be omitted if there is included in the offering document a statement that the specific information is otherwise unavailable.

 “Default Amount” has the meaning specified in the Servicing Agreement. 

“Deficit Controlled Accumulation Amount” means (a) on the first Payment Date with respect to the Controlled
Accumulation Period, the excess, if any, of the Controlled Accumulation Amount for such Payment Date over the amount deposited in the Principal Funding Account on such Payment Date and (b) on each subsequent Payment Date with respect to the
Controlled Accumulation Period, the excess, if any, of the Controlled Deposit Amount for such subsequent Payment Date over the amount deposited in the Principal Funding Account on such subsequent Payment Date. 

“Discount Option Percentage” has the meaning specified in the Transfer Agreement. 

“Early Amortization Event” means, with respect to the Series 2013-1 Notes, the events specified in
Section 5.01 hereof and Section 12.01 of the Indenture. 
 “Early Amortization Period”
means the period commencing at the close of business on the Business Day immediately preceding the day on which an Early Amortization Event with respect to Series 2013-1 is deemed to have occurred, and ending on the first to occur of (a) the
payment in full of the Stated Principal Amount of, and any Series 2013-1 Monthly Interest due on, the Series 2013-1 Notes, (b) the date on which Collateral is sold pursuant to Section 4.16 and (c) the seventh Business Day
following the Legal Maturity Date. 
 “Eligible Deposit Account” has the meaning specified in the Indenture.

 “Eligible Institution” has the meaning specified in the Indenture. 

“Eligible Investments” has the meaning specified in the Indenture. 

“Event of Default” has the meaning specified in the Indenture. 

“Excess Recoveries” has the meaning specified in the Servicing Agreement. 

“Excess Spread Percentage” means, with respect to each Payment Date, as determined on the Business Day prior to such
Payment Date, the amount, if any, by which the Series 2013-1 Portfolio Yield with respect to the related Monthly Period exceeds the Base Rate with respect to such Monthly Period. 

“Expected Final Payment Date” means the March 2018 Payment Date. 

“Finance Charge Collections” has the meaning specified in the Servicing Agreement. 

  
 8 

 “Floating Allocation Percentage” means, with respect to the Series 2013-1
Notes, the Series 2013-1 Floating Allocation Percentage and has, with respect to any other Series of Notes, the meaning specified in the applicable Indenture Supplement for such Series of Notes. 

“Holder” has the meaning specified in the Indenture. 

“Indenture” means the Amended and Restated Indenture, dated as of March 12, 2013, between the Issuer and the
Indenture Trustee, as the same may be further amended, supplemented, restated or otherwise modified from time to time. 

“Indenture Supplement” has (i) with respect to Series 2013-1, the meaning specified in the preamble hereto and
(ii) with respect to any other Series of Notes, the meaning specified in the Indenture. 
 “Indenture
Trustee” means The Bank of New York Mellon, in its capacity as indenture trustee under the Indenture, its successors in interest and any successor indenture trustee under the Indenture. 

“Initial Dollar Principal Amount” means $555,556,000. 

“Interest Period” means, with respect to any Payment Date, the period from and including the Payment Date immediately
preceding such Payment Date (or, in the case of the first Payment Date, from and including the Closing Date) and to but excluding such Payment Date. 
 “Invested Amount” has the meaning specified in the Transfer Agreement. 
 “Investor Charge-Off” has the meaning specified in Section 4.08. 
 “Issuer” has the meaning specified in the preamble hereto. 

“Issuer Accounts” has the meaning specified in the Indenture. 

“Legal Maturity Date” means the February 2019 Payment Date. 

“LIBOR” means, for any Interest Period, a per annum interest rate determined by the Indenture Trustee for such
Interest Period in accordance with the provisions of Section 4.15. 
 “LIBOR Determination Date”
means March 19, 2013 for the period from and including the Closing Date to but excluding April 15, 2013, and for every other Interest Period, the second London Business Day prior to the commencement of such Interest Period. 

“London Business Day” means any day on which dealings in deposits in United States Dollars are transacted in the London
interbank market. 
 “Master Trust” has the meaning specified in the Indenture. 

“Monthly Interest” means the Series 2013-1 Monthly Interest. 

  
 9 

 “Monthly Period” has the meaning specified in the Indenture. 

“Monthly Principal” means the monthly principal distributable in respect of the Series 2013-1 Notes as calculated in
accordance with Section 4.03. 
 “Monthly Subordination Amount” means, with respect to any Monthly
Period, an amount equal to the sum of: 
 (a) the lower of (i) the excess of the amounts distributable
pursuant to subsections 4.05(a), 4.05(d) and 4.05(e) over the Series 2013-1 Available Finance Charge Collections and Shared Excess Available Finance Charge Collections allocated with respect thereto pursuant to
subsections 4.05(a), 4.05(d) and 4.05(e), respectively, and (ii) (1) the product of (I) 10.0% and (II) the Initial Dollar Principal Amount minus (2) the amount of unreimbursed Investor Charge-offs (as
of the previous Payment Dated) and unreimbursed Reallocated Principal Collections (as of the previous Payment Date); and 
 (b) the lower of (i) the excess of the amounts distributable pursuant to subsection 4.05(b) over the Series 2013-1 Available Finance Charge Collections and Shared Excess
Available Finance Charge Collections allocated with respect thereto pursuant to subsection 4.05(b), and (ii)(1) the product of (I) 6.0% and (II) the Initial Dollar Principal Amount minus (2) the amount of unreimbursed
Investor Charge-offs (as of the previous Payment Date) and unreimbursed Reallocated Principal Collections (including amounts allocated pursuant to clause (a) above with respect to the related Payment Date). 

“Nominal Liquidation Amount” means, as of the Closing Date, the Initial Dollar Principal Amount and on any date of
determination thereafter, the sum of, without duplication, (a) the Nominal Liquidation Amount determined on the immediately prior date of determination, plus (b) all reimbursements of reductions in the Nominal Liquidation Amount due
to Investor Charge-Offs or Reallocated Principal Collections since the prior date of determination, determined as set forth in Sections 4.08 and 4.09, minus (c) the amount of the reduction in the Nominal Liquidation Amount
due to Investor Charge-Offs since the prior date of determination, determined as set forth in Section 4.08, minus (d) the amount of the reduction in the Nominal Liquidation Amount due to the application of Reallocated
Principal Collections since the prior date of determination, determined as set forth in Section 4.09, minus (e) the amount deposited in the Principal Funding Account or paid to the Series 2013-1 Noteholders (in each case,
after giving effect to any deposits, allocations, reallocations or withdrawals to be made on that day) since the prior date of determination; provided, however, that (1) the Nominal Liquidation Amount may never be less than zero,
(2) the Nominal Liquidation Amount may never be greater than the Adjusted Outstanding Dollar Principal Amount and (3) if there is a sale of Collateral in accordance with Section 4.16, the Nominal Liquidation Amount will be
reduced to zero upon such sale. 
 “Nominal Liquidation Amount Deficit” means the Series 2013-1 Additional
Amount. 
 “Note” or “Notes” has the meaning specified in the Indenture. 

“Note Rating Agency” means each of Fitch and Standard & Poor’s. 

  
 10 

 “Note Rating Agency Condition” has the meaning specified in the Indenture.

 “Note Transfer Date” has the meaning specified in the Servicing Agreement. 

“Noteholder” has the meaning specified in the Indenture. 

“Officer’s Certificate” has the meaning specified in the Indenture. 

“Outstanding” has the meaning specified in the Indenture. 

“Outstanding Dollar Principal Amount” has the meaning specified in the Indenture. 

“Owner Trustee” means Wilmington Trust Company, not in its individual capacity, but solely as owner trustee under the
Trust Agreement, its successors in interest and any successor owner trustee under the Trust Agreement. 
 “Paying
Agent” has the meaning specified in the Indenture. 
 “Payment Date” means (i) with respect to
Series 2013-1, April 15, 2013 and the 15th day of each calendar month thereafter, or if such 15th day is not a Business Day, the next succeeding Business Day and (ii) with respect to any other Series of Notes, the meaning specified in
the applicable Indenture Supplement for such Series of Notes. 
 “Person” has the meaning specified in the
Indenture. 
 “Pool Balance” has the meaning specified in the Transfer Agreement. 

“Pooling and Servicing Agreement” has the meaning specified in the Indenture. 

“Principal Allocation Percentage” means, with respect to the Series 2013-1 Notes, the Series 2013-1 Principal Allocation
Percentage and has, with respect to any other Series of Notes, the meaning specified in the applicable Indenture Supplement for such Series of Notes. 
 “Principal Collections” has the meaning specified in the Servicing Agreement. 
 “Principal Funding Account” means the Eligible Deposit Account designated as such and established pursuant to subsection 4.07(a). 

“Principal Funding Account Balance” shall mean, with respect to any date of determination during the
Controlled Accumulation Period, the principal amount, if any, on deposit in the Principal Funding Account on such date of determination. 
 “Principal Funding Account Investment Proceeds” shall have the meaning specified in subsection 4.07(a)(ii). 

“Principal Payment Rate” means, with respect to any Monthly Period, the percentage equivalent of a fraction, the
numerator of which is the aggregate amount of Principal 

  
 11 

 
Collections received during such Monthly Period and the denominator of which is the aggregate principal amount of billed balances as of the first day of such Monthly Period. 

“Quarterly Excess Spread Percentage” means (a) with respect to the April 2013 Payment Date, the Excess Spread
Percentage with respect to the immediately preceding Monthly Period, (b) with respect to the May 2013 Payment Date, the percentage equivalent of a fraction, the numerator of which is the sum of the Excess Spread Percentages for the immediately
preceding two Monthly Periods and the denominator of which is two and (c) with respect to the June 2013 Payment Date and each Payment Date thereafter, the percentage equivalent of a fraction, the numerator of which is the sum of the Excess
Spread Percentages for the immediately preceding three Monthly Periods and the denominator of which is three. 

“Quarterly Principal Payment Rate” means (a) with respect to the April 2013 Payment Date, the Principal Payment
Rate with respect to the immediately preceding Monthly Period, (b) with respect to the May 2013 Payment Date, the percentage equivalent of a fraction, the numerator of which is the sum of the Principal Payment Rates for the immediately
preceding two Monthly Periods and the denominator of which is two and (c) with respect to the June 2013 Payment Date and each Payment Date thereafter, the percentage equivalent of a fraction, the numerator of which is the sum of the Principal
Payment Rates for the immediately preceding three Monthly Periods and the denominator of which is three. 
 “Reallocated
Principal Collections” means, with respect to any Monthly Period, Series 2013-1 Principal Collections applied in accordance with Section 4.09. 
 “Reallocation Group A Additional Amounts” means, with respect to any Payment Date, the sum of (a) the Series 2013-1 Additional Amount for such Payment Date and (b) for
all other Series included in Reallocation Group A, the aggregate amount of reductions in the nominal liquidation amounts with respect to such Series as of such Payment Date due to investor charge-offs or the application of reallocated principal
collections, which amounts are payable out of Reallocation Group A Finance Charge Collections allocated to such Series for such Payment Date pursuant to the related Indenture Supplements. 

“Reallocation Group A Default Amount” means, with respect to any Payment Date, the sum of (a) the Series
2013-1 Default Amount for such Payment Date and (b) the aggregate amount of the Default Amount allocated to all other Series included in Reallocation Group A for such Payment Date. 

“Reallocation Group A Fees” means, with respect to any Payment Date, the sum of (a) the Series 2013-1 Fees for such
Payment Date and (b) the aggregate amount of the servicing fees and any other similar fees for all other Series included in Reallocation Group A for such Payment Date, which fees are payable out of Reallocation Group A Finance Charge
Collections allocated to such Series for such Payment Date pursuant to the related Indenture Supplements. 

“Reallocation Group A Finance Charge Collections” means, with respect to any Payment Date, the sum of
(a) Series 2013-1 Finance Charge Collections for such Payment Date 

  
 12 

 
and (b) the aggregate amount of Finance Charge Collections allocated to all other Series included in Reallocation Group A for such Payment Date. 

“Reallocation Group A Interest” means, with respect to any Payment Date, the sum of (a) Series 2013-1 Monthly
Interest for such Payment Date and (b) the aggregate amount of monthly interest, including overdue monthly interest and interest on such overdue monthly interest, if such amounts are payable out of Reallocation Group A Finance Charge
Collections allocated to such Series for such Payment Date pursuant to the related Indenture Supplements. 

“Receivables” has the meaning specified in the Servicing Agreement. 

“Record Date” means the last day of the Monthly Period immediately preceding the related Payment Date. 

“Reference Banks” means four major banks in the London interbank market selected by the Servicer. 

“Reinvestment Amount” has the meaning specified in the Transfer Agreement. 

“Remaining Series Available Principal Collections Shortfall” means, with respect to any Monthly Period as determined on
the related Note Transfer Date, (a) with respect to Series 2013-1, the excess, if any, of (i) the Series Available Principal Collections Shortfall for such Monthly Period over (ii) the Shared Excess Available Principal Collections, if
any, allocated to the Series 2013-1 Notes from other Shared Excess Available Principal Collections Series for such Monthly Period and (b) with respect to any other Series of Notes, the amount set forth in the applicable Indenture Supplement for
such Monthly Period. 
 “Repurchase Reporting Series” has the meaning specified in the Indenture. 

“Required Accumulation Reserve Account Amount” means, with respect to any Payment Date on or after the
Accumulation Reserve Account Funding Date, an amount equal to (a) 0.10% of the Initial Dollar Principal Amount as of the preceding Payment Date (after giving effect to all changes therein on such date) or (b) any other percentage (which
may be 0%) of the Initial Dollar Principal Amount designated by the Transferor; provided that if such percentage is less than the percentage specified in clause (a) above, the Note Rating Agency Condition shall have been satisfied with
respect to such designation and the Transferor shall have delivered copies of each such written notice to the Servicer, the Indenture Trustee and the Owner Trustee. 
 “Required Class C Reserve Account Amount” means, with respect to each Payment Date, an amount equal to the product of (a) the Class C Reserve Account Percentage in effect for such
Payment Date and (ii) the Initial Dollar Principal Amount; provided that, upon the occurrence of an Early Amortization Event or an Event of Default with respect to the Series 2013-1 Notes, the Required Class C Reserve Account Amount
shall be the Outstanding Dollar Principal Amount of the Class C Notes as of the date of such occurrence. 
 “Required
Excess Spread Percentage” means 0%; provided, however, that the Issuer may, from time to time, change such percentage (which shall never be less than zero) (a) upon written notice to the Indenture Trustee, (b) upon
satisfaction of the Note Rating Agency 

  
 13 

 
Condition with respect to such change and (c) provided the Issuer reasonably believes, as evidenced by an Officer’s Certificate of each Transferor delivered to the Indenture Trustee,
that such change shall not have an Adverse Effect. 
 “Required Pool Balance” has the meaning specified in the
Transfer Agreement. 
 “Required Transferor Amount” has the meaning specified in the Transfer Agreement.

 “Reuters Screen LIBOR01 Page” means the display page currently designated as page LIBOR01 on the Reuters
Screen (or such other page as may replace that page on that service for the purpose of displaying comparable rates or prices). 

“Revolving Period” means the period beginning on the Closing Date and ending on the earlier of (a) the close of
business on the day immediately preceding the day the Controlled Accumulation Period commences and (b) the close of business on the day immediately preceding the day the Early Amortization Period commences. 

“RFC VIII” means American Express Receivables Financing Corporation VIII LLC, a Delaware limited liability company, and
its successors and assigns. 
 “Senior Class” means (a) with respect to the Class B Notes, the
Class A Notes and (b) with respect to the Class C Notes, the Class A Notes and the Class B Notes. 

“Series” has the meaning specified in the Indenture and, when used with respect to the Series of Notes issued pursuant
to this Indenture Supplement, means Series 2013-1. 
 “Series 2013-1 Additional Amount” means, with
respect to any Payment Date, the amount specified in subsection 4.05(f) for such Payment Date. 
 “Series
2013-1 Available Excess Recoveries” means, with respect to any Monthly Period, (a) if (i) the aggregate amount of Excess Recoveries for such Monthly Period is greater than zero and (ii) the aggregate amount targeted to
be paid or applied pursuant to subsections 4.05(a) through (i) for such Monthly Period exceeds the Series 2013-1 Available Finance Charge Collections (excluding Series 2013-1 Available Excess Recoveries) with respect to such
Monthly Period, an amount equal to Series 2013-1 Excess Recoveries for such Monthly Period, or (b) otherwise, zero. 

“Series 2013-1 Available Finance Charge Collections” means, with respect to any Monthly Period, an amount equal to the
sum of (a) the Series 2013-1 Reallocated Finance Charge Collections with respect to such Monthly Period, (b) Principal Funding Account Investment Proceeds, if any, with respect to the related Payment Date, (c) amounts, if any, to be
withdrawn from the Accumulation Reserve Account which shall be deposited into the Collection Account on the related Payment Date to be treated as Series 2013-1 Available Finance Charge Collections pursuant to subsections 4.12(b) and
(d), and (d) the Series 2013-1 Available Excess Recoveries, if any, with respect to such Monthly Period. 

  
 14 

 “Series 2013-1 Available Principal Collections” means, with respect to any
Monthly Period, an amount equal to (a) the Series 2013-1 Principal Collections with respect to such Monthly Period, minus (b) Reallocated Principal Collections with respect to such Monthly Period, plus (c) any Series
2013-1 Available Finance Charge Collections available with respect to such Monthly Period to cover the Series 2013-1 Default Amount or to reimburse any reductions in the Nominal Liquidation Amount from an allocation of Investor Charge-Offs or from
the application of Reallocated Principal Collections, plus (d) following an Event of Default and acceleration of the Series 2013-1 Notes, Series 2013-1 Available Finance Charge Collections, if any, with respect to such Monthly Period,
available pursuant to subsection 4.05(i), plus (e) any amounts allocated to the Series 2013-1 Notes pursuant to subsection 4.01(f). 
 “Series 2013-1 Default Amount” means, with respect to any Monthly Period, an amount equal to the product of (a) the Series 2013-1 Floating Allocation Percentage and (b) the
Default Amount with respect to such Monthly Period. 
 “Series 2013-1 Excess Recoveries” means, with respect to
any Monthly Period, an amount equal to the product of (a) the Series 2013-1 Floating Allocation Percentage and (b) the aggregate amount of Excess Recoveries with respect to such Monthly Period. 

“Series 2013-1 Fees” means, with respect to any Payment Date, the amount specified in subsection 4.05(d) for such
Payment Date. 
 “Series 2013-1 Finance Charge Collections” means, with respect to any Monthly Period, the
Finance Charge Collections allocated to the Series 2013-1 Notes pursuant to subsection 4.01(b). 
 “Series 2013-1
Floating Allocation Percentage” means, with respect to any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Nominal Liquidation Amount as of the beginning of
the first day of such Monthly Period (or, with respect to the first Monthly Period, the Initial Dollar Principal Amount), and the denominator of which is the greater of (a) the Pool Balance as of the beginning of the first day of such Monthly
Period (or, with respect to the first Monthly Period, the Pool Balance as of the Closing Date) and (b) the sum of the nominal liquidation amounts for all Series of Notes as of the beginning of the first day of such Monthly Period;
provided, however, that with respect to any Monthly Period in which an Addition Date, an Increase Date or a Removal Date occurs, the amount calculated above pursuant to clause (a) of the denominator shall be increased by
(i) the aggregate amount of Principal Receivables or Collateral Certificates added to the Trust on each Addition Date during such Monthly Period and (ii) the aggregate amount by which the Invested Amount of an existing Collateral
Certificate was increased on each Increase Date during such Monthly Period, and shall be decreased by the aggregate amount of Principal Receivables or Collateral Certificates removed from the Trust on each Removal Date during such Monthly Period, as
though such Principal Receivables or Collateral Certificates had been added to or removed from, as the case may be, the Trust as of the beginning of the first day of such Monthly Period. 

“Series 2013-1 Monthly Interest” means, with respect to any Payment Date, (i) the Class A Monthly Interest,
(ii) any Class A Monthly Interest previously due but not paid to the 

  
 15 

 
Class A Noteholders, (iii) the Class B Monthly Interest, (iv) any Class B Monthly Interest previously due but not paid to the Class B Noteholders, (v) the Class C Monthly
Interest, (vi) any Class C Monthly Interest previously due but not paid to the Class C Noteholders, (vii) the amount of Additional Interest, if any, and (viii) any Additional Interest previously due but not paid to the Series 2013-1
Noteholders, in each case for such Payment Date. 
 “Series 2013-1 Noteholders” means a Class A
Noteholder, a Class B Noteholder or a Class C Noteholder. 
 “Series 2013-1 Notes” means a Class A Note, a
Class B Note or a Class C Note. 
 “Series 2013-1 Portfolio Yield” means, for any Monthly Period, the
annualized percentage equivalent of a fraction: 
  

	 	(1)	the numerator of which is equal to the sum of: 

 (a) the Series 2013-1 Available Finance Charge Collections with respect to such Monthly Period; minus 
 (b) the Series 2013-1 Default Amount for such Monthly Period; and 
  

	 	(2)	the denominator of which is the Nominal Liquidation Amount as of the last day of the preceding Monthly Period. 

“Series 2013-1 Principal Allocation Percentage” means, with respect to any Monthly Period, the percentage equivalent
(which percentage shall never exceed 100%) of a fraction, the numerator of which is (a) during the Revolving Period, the Nominal Liquidation Amount as of the beginning of the first day of such Monthly Period (or, in the case of the first
Monthly Period, the Initial Dollar Principal Amount) and (b) during the Controlled Accumulation Period or the Early Amortization Period, the Nominal Liquidation Amount as of the close of business on the date on which the Revolving Period shall
have terminated, and the denominator of which is the greater of (a) the Pool Balance as of the beginning of the first day of such Monthly Period (or, with respect to the first Monthly Period, the Pool Balance as of the Closing Date),
(b) the sum of the nominal liquidation amounts for all Series of Notes as of the beginning of the first day of such Monthly Period, and (c) the sum of the numerator above and the numerators used to calculate the Principal Allocation
Percentages for all other Series of Notes for such Monthly Period; provided, however, that with respect to any Monthly Period in which an Addition Date, an Increase Date or a Removal Date occurs, the amount calculated above pursuant to
clause (a) of the denominator shall be increased by (i) the aggregate amount of Principal Receivables or Collateral Certificates added to the Trust on each Addition Date during such Monthly Period and (ii) the aggregate amount by
which the Invested Amount of an existing Collateral Certificate was increased on each Increase Date during such Monthly Period, and shall be decreased by the aggregate amount of Principal Receivables or Collateral Certificates removed from the Trust
on each Removal Date during such Monthly Period, as though such Principal Receivables or Collateral Certificates had been added to or removed from, as the case may be, the Trust as of the first day of such Monthly Period. 

  
 16 

 “Series 2013-1 Principal Collections” means, with respect to any Monthly
Period, the Principal Collections allocated to the Series 2013-1 Notes pursuant to subsection 4.01(c). 
 “Series
2013-1 Reallocated Finance Charge Collections” means, with respect to any Monthly Period, that portion of Reallocation Group A Finance Charge Collections allocated to Series 2013-1 pursuant to Section 4.04. 

“Series 2013-1 Servicing Fee” means, with respect to any Monthly Period, an amount equal to the product of (a) the
Servicing Fee with respect to such Monthly Period and (b) the Series 2013-1 Floating Allocation Percentage with respect to such Monthly Period. 
 “Series 2013-1 Stated Principal Amount” means $555,556,000. 

“Series Available Finance Charge Collections Shortfall” means, with respect to any Monthly Period as determined on the
related Note Transfer Date, (a) with respect to Series 2013-1, the excess, if any, of (i) the aggregate amount targeted to be paid or applied pursuant to subsections 4.05(a) through (i) for such Monthly Period over
(ii) the Series 2013-1 Available Finance Charge Collections with respect to such Monthly Period and (b) with respect to any other Series, the amount set forth in the applicable Indenture Supplement for such Monthly Period; provided,
however, that the Issuer, when authorized by an Officer’s Certificate of each Transferor, may amend or otherwise modify this definition of Series Available Finance Charge Collections Shortfall provided the Note Rating Agency Condition
shall have been satisfied. 
 “Series Available Principal Collections Shortfall” means, with respect to any
Monthly Period as determined on the related Note Transfer Date, (a) with respect to Series 2013-1, the excess, if any, of (i) the aggregate amount targeted to be paid or applied pursuant to subsection 4.06(b)(i) through
(iv) for such Monthly Period over (ii) the Series 2013-1 Available Principal Collections with respect to such Monthly Period and (b) with respect to any other Series of Notes, the amount set forth in the applicable Indenture
Supplement for such Monthly Period; provided, however, that the Issuer, when authorized by an Officer’s Certificate of each Transferor, may amend or otherwise modify this definition of Series Available Principal Collections
Shortfall provided the Note Rating Agency Condition shall have been satisfied. 
 “Series Required Transferor Amount
Percentage” means (a) with respect to Series 2013-1, 12.25%, and (b) with respect to any other Series of Notes, the percentage set forth in the applicable Indenture Supplement; provided, however, that with respect to
the percentage specified in clause (a) above, the Transferor may from time to time designate a different percentage; provided further, that prior to designating any lesser percentage, (i) the Transferor shall have provided to the
Indenture Trustee an Issuer Tax Opinion and (ii) the Note Rating Agency Condition shall have been satisfied with respect to such lesser percentage. 
 “Servicer” has the meaning specified in the Servicing Agreement. 

“Servicer Default” has the meaning specified in the Servicing Agreement. 

“Servicing Agreement” means the Amended and Restated Servicing Agreement, dated as of March 12, 2013, among RFC
VIII, as Transferor, TRS, as Servicer and 

  
 17 

 
Administrator, the Issuer, and the Indenture Trustee, as further amended, supplemented or otherwise modified from time to time. 

“Servicing Fee” has the meaning specified in the Servicing Agreement. 

“Shared Excess Available Finance Charge Collections” means, with respect to any Monthly Period as determined on the
related Note Transfer Date, with respect to any Series of Notes in Shared Excess Available Finance Charge Collections Group A, the sum of (a) the amount of Series 2013-1 Available Finance Charge Collections with respect to such Monthly Period,
available after application in accordance with subsections 4.05(a) through (i) and (b) the Finance Charge Collections remaining after all required payments and deposits from all other Series identified as belonging to Shared
Excess Available Finance Charge Collections Group A which the applicable Indenture Supplements for such Series specify are to be treated as “Shared Excess Available Finance Charge Collections” with respect to such Monthly Period.

 “Shared Excess Available Finance Charge Collections Group” has the meaning specified in the Indenture.

 “Shared Excess Available Finance Charge Collections Group A” means the Shared Excess Available Finance
Charge Collections Group to which Series 2013-1 has been designated for inclusion under subsection 4.10(a). 

“Shared Excess Available Finance Charge Collections Series” has the meaning specified in the Indenture. 

“Shared Excess Available Principal Collections” means, with respect to any Monthly Period as determined on the related
Note Transfer Date, the sum of (a) with respect to Series 2013-1, the amount of Series 2013-1 Available Principal Collections for such Monthly Period available after application in accordance with subsections 4.06(b)(i) through
(iv) and (b) with respect to any other Series included in Shared Excess Available Principal Collections Group A, the Principal Collections allocated to such other Series remaining after all required payments and deposits, which the
applicable Indenture Supplements for such Series specify are to be treated as “Shared Excess Available Principal Collections” with respect to such Monthly Period. 
 “Shared Excess Available Principal Collections Group” has the meaning specified in the Indenture. 
 “Shared Excess Available Principal Collections Group A” means the Shared Excess Available Principal Collections Group to which Series 2013-1 has been designated for inclusion under
subsection 4.11(a). 
 “Shared Excess Available Principal Collections Series” has the meaning specified
in the Indenture. 
 “Subordinated Class” means (a) with respect to the Class A Notes, the Class B
Notes and the Class C Notes and (b) with respect to the Class B Notes, the Class C Notes. 

  
 18 

 “Transfer Agreement” means the Amended and Restated Transfer Agreement,
dated as of March 12, 2013, among RFC VIII, as Transferor, the Issuer, and the Indenture Trustee, as further amended, supplemented or otherwise modified from time to time. 

“Transfer Restriction Event” has the meaning specified in the Transfer Agreement. 

“Transferor” has the meaning specified in the Transfer Agreement. 

“Transferor Amount” has the meaning specified in the Transfer Agreement. 

“Transferor Interest” has the meaning specified in the Transfer Agreement. 

“TRS” means American Express Travel Related Services Company, Inc., a New York corporation, and its successors and
assigns. 
 “Trust Agreement” means the Amended and Restated Trust Agreement relating to the Trust, dated as of
October 24, 2012, between the Transferor and the Owner Trustee, as the same may be further amended, supplemented or otherwise modified from time to time. 
 SECTION 2.02 GOVERNING LAW. THIS INDENTURE SUPPLEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK 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 2.03 Counterparts. This Indenture Supplement may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall
together constitute but one and the same instrument. 
 Section 2.04 Ratification of Indenture. As supplemented by
this Indenture Supplement, the Indenture is in all respects ratified and confirmed and the Indenture as so supplemented by this Indenture Supplement shall be read, taken and construed as one and the same instrument. 

[END OF ARTICLE II] 

  
 19 

 ARTICLE III 
 SERVICING COMPENSATION 
 Section 3.01 Servicing Compensation. The
share of the Servicing Fee allocable to the Series 2013-1 Noteholders with respect to any Payment Date shall equal the Series 2013-1 Servicing Fee. The portion of the Servicing Fee that is not allocable to the Series 2013-1 Noteholders shall be paid
by the holders of the Transferor Interest or the Noteholders of other Series of Notes (as provided in the related Indenture Supplements), and in no event shall the Issuer, the Owner Trustee, the Indenture Trustee or the Series 2013-1 Noteholders be
liable for the share of the Servicing Fee to be paid by the holders of the Transferor Interest or the Noteholders of any other Series of Notes. 
 [END OF ARTICLE III] 

  
 20 

 ARTICLE IV 
 RIGHTS OF SERIES 2013-1 NOTEHOLDERS AND 

ALLOCATION AND APPLICATION OF COLLECTIONS 
 Section 4.01 Collections and Allocations. 
 (a) Allocations.
Finance Charge Collections, Principal Collections, the Default Amount and the Servicing Fee allocated to Series 2013-1 pursuant to Article V of the Indenture and Excess Recoveries shall be allocated and distributed as set forth in this Article IV.

 (b) Allocations of Finance Charge Collections to the Series 2013-1 Notes. With respect to each Monthly
Period, the Indenture Trustee, at the direction of the Servicer, shall allocate to the Series 2013-1 Noteholders and retain in the Collection Account for application as provided herein an amount equal to the product of (A) the Series 2013-1
Floating Allocation Percentage and (B) the aggregate amount of Finance Charge Collections with respect to such Monthly Period. 
 (c) Allocations of Principal Collections to the Series 2013-1 Notes. With respect to each Monthly Period, the Indenture Trustee, at the direction of the Servicer, shall allocate to
the Series 2013-1 Noteholders and retain in the Collection Account for application as provided herein an amount equal to the product of (A) the Series 2013-1 Principal Allocation Percentage and (B) the aggregate amount of Principal
Collections with respect to such Monthly Period. 
 (d) Allocations of the Default Amount to the Series 2013-1
Notes. With respect to each Monthly Period, the Indenture Trustee, at the direction of the Servicer, shall allocate to the Series 2013-1 Notes an amount equal to the product of (A) the Series 2013-1 Floating Allocation Percentage and
(B) the Default Amount with respect to such Monthly Period. 
 (e) Allocations of the Servicing Fee to the Series 2013-1
Notes. With respect to each Monthly Period, the Indenture Trustee, at the direction of the Servicer, shall allocate to the Series 2013-1 Notes an amount equal to the product of (A) the Series 2013-1 Floating Allocation Percentage and
(B) the Servicing Fee with respect to such Monthly Period. 
 (f) Allocations of Excess Recoveries to the Series 2013-1
Notes. With respect to each Monthly Period, if the aggregate amount of Excess Recoveries for such Monthly Period is greater than zero, the Indenture Trustee, at the direction of the Servicer, shall allocate to the Series 2013-1 Notes an amount
equal to the product of (A) the Series 2013-1 Floating Allocation Percentage and (B) the aggregate amount of Excess Recoveries with respect to such Monthly Period. 
 Section 4.02 Determination of Monthly Interest. 
 (a) The amount of
monthly interest (“Class A Monthly Interest”) distributable from the Collection Account with respect to the Class A Notes on any Payment Date shall be an amount equal to the product of (i) a fraction, the numerator of
which is the actual number of days in the period from and including the immediately preceding Payment Date (or, in the case of the 

  
 21 

 
first Payment Date, the Closing Date) to but excluding such Payment Date and the denominator of which is 360, (ii) the Class A Note Interest Rate then in effect for the related Interest
Period and (iii) the Outstanding Principal Dollar Amount of the Class A Notes as of the close of business on the immediately preceding Record Date. 
 On the Note Transfer Date preceding each Payment Date, the Servicer shall determine the excess, if any (the “Class A Interest Shortfall”), of (x) the Class A
Monthly Interest for such Payment Date over (y) the aggregate amount of funds allocated and available to pay such Class A Monthly Interest on such Payment Date. If the Class A Interest Shortfall with respect to any Payment Date is
greater than zero, on each subsequent Payment Date until such Class A Interest Shortfall is fully paid, an additional amount (“Class A Additional Interest”) equal the product of (i) a fraction, the numerator
of which is the actual number of days in the period from and including the immediately preceding Payment Date (or, in the case of the first Payment Date, the Closing Date) to but excluding such Payment Date and the denominator of which is 360,
(ii) the sum of (x) the Class A Note Interest Rate in effect for the related Interest Period and (y) 2.0% per annum and (iii) such Class A Interest Shortfall (or the portion thereof which has not been paid
to the Class A Noteholders) shall be payable as provided herein with respect to the Class A Notes. Notwithstanding anything to the contrary herein, Class A Additional Interest shall be payable or distributed to the Class A
Noteholders only to the extent permitted by applicable law. 
 (b) The amount of monthly interest (“Class B Monthly
Interest”) distributable from the Collection Account with respect to the Class B Notes on any Payment Date shall be an amount equal to the product of (i) a fraction, the numerator of which is the actual number of days in the period
from and including the immediately preceding Payment Date (or, in the case of the first Payment Date, the Closing Date) to but excluding such Payment Date and the denominator of which is 360, (ii) the Class B Note Interest Rate then in effect
for the related Interest Period and (iii) the Outstanding Dollar Principal Amount of the Class B Notes as of the close of business on the immediately preceding Record Date. 

On the Note Transfer Date preceding each Payment Date, the Servicer shall determine the excess, if any (the
“Class B Interest Shortfall”), of (x) the Class B Monthly Interest for such Payment Date over (y) the aggregate amount of funds allocated and available to pay such Class B Monthly Interest on such Payment
Date. If the Class B Interest Shortfall with respect to any Payment Date is greater than zero, on each subsequent Payment Date until such Class B Interest Shortfall is fully paid, an additional amount
(“Class B Additional Interest”) equal to the product of (i) a fraction, the numerator of which is the actual number of days in the period from and including the immediately preceding Payment Date (or, in the case
of the first Payment Date, the Closing Date) to but excluding such Payment Date and the denominator of which is 360, (ii) the sum of (x) the Class B Note Interest Rate in effect for the related Interest Period and (y) 2.0% per
annum and (iii) such Class B Interest Shortfall (or the portion thereof which has not been paid to the Class B Noteholders) shall be payable as provided herein with respect to the Class B Notes. Notwithstanding anything to the contrary
herein, Class B Additional Interest shall be payable or distributed to the Class B Noteholders only to the extent permitted by applicable law. 

  
 22 

 (c) The amount of monthly interest (“Class C Monthly Interest”)
distributable from the Collection Account with respect to the Class C Notes on any Payment Date shall be an amount equal to the product of (i) a fraction, the numerator of which is the actual number of days in the period from and including the
immediately preceding Payment Date (or, in the case of the first Payment Date, the Closing Date) to but excluding such Payment Date and the denominator of which is 360, (ii) the Class C Note Interest Rate then in effect for the related Interest
Period and (iii) the Outstanding Dollar Principal Amount of the Class C Notes as of the close of business on the immediately preceding Record Date. 
 On the Note Transfer Date preceding each Payment Date, the Servicer shall determine an amount (the “Class C Interest Shortfall”) equal to (x) the aggregate Class C Monthly Interest
for such Payment Date minus (y) the aggregate amount of funds allocated and available to pay such Class C Monthly Interest on such Payment Date. If the Class C Interest Shortfall with respect to any Payment Date is greater than zero, on
each subsequent Payment Date until such Class C Interest Shortfall is fully paid, an additional amount (“Class C Additional Interest”) equal to the product of (i) a fraction, the numerator of which is the actual
number of days in the period from and including the immediately preceding Payment Date (or, in the case of the first Payment Date, the Closing Date) to but excluding such Payment Date and the denominator of which is 360, (ii) the sum of
(x) the Class C Note Interest Rate in effect for the related Interest Period and (y) 2.0% per annum and (iii) such Class C Interest Shortfall (or the portion thereof which has not been paid to the Class C Noteholders)
shall be payable as provided herein with respect to the Class C Notes. Notwithstanding anything to the contrary herein, Class C Additional Interest shall be payable or distributed to Class C Noteholders only to the extent permitted by applicable
law. 
 Section 4.03 Determination of Monthly Principal. The amount of monthly principal allocated and made
available from the Collection Account with respect to the Series 2013-1 Notes on each Payment Date (the “Monthly Principal”), shall be equal to (a) during the Revolving Period, zero and (b) beginning with the Payment Date
in the month following the month in which the Controlled Accumulation Period or, if earlier, the Early Amortization Period, begins, the least of (i) the Series 2013-1 Available Principal Collections on deposit in the Collection Account with
respect to such Payment Date, (ii) for each Payment Date with respect to the Controlled Accumulation Period, the Controlled Deposit Amount for such Payment Date and (iii) the Nominal Liquidation Amount for such Payment Date (after taking
into account any adjustments to be made on such Payment Date pursuant to Sections 4.05, 4.08 and 4.09). 

Section 4.04 Reallocated Finance Charge Collections. 
 (a) The portion of Reallocation Group A Finance Charge Collections for any Payment Date equal to the amount of Series 2013-1 Reallocated Finance Charge Collections for such Payment Date shall be allocated
to Series 2013-1 and will be distributed as set forth in this Indenture Supplement. 
 (b) Series 2013-1 Reallocated Finance
Charge Collections with respect to any Payment Date shall equal the sum of (i) the aggregate amount of the Series 2013-1 Monthly Interest, Series 2013-1 Default Amount, Series 2013-1 Fees and Series 2013-1 Additional Amount for such Payment
Date and (ii) that portion of excess Reallocation Group A Finance 

  
 23 

 
Charge Collections to be included in Series 2013-1 Reallocated Finance Charge Collections pursuant to subsection (c) hereof; provided, however, that if the amount
of Reallocation Group A Finance Charge Collections for such Payment Date is less than the sum of (w) Reallocation Group A Interest, (x) Reallocation Group A Default Amount, (y) Reallocation Group A Fees and (z) Reallocation Group
A Additional Amounts, then Series 2013-1 Reallocated Finance Charge Collections shall equal the sum of the following amounts for such Payment Date: 
  

	 	(A)	the product of (I) the lesser of (1) Reallocation Group A Finance Charge Collections and (2) Reallocation Group A Interest and (II) a fraction, the
numerator of which is the Series 2013-1 Monthly Interest and the denominator of which is Reallocation Group A Interest; 

  

	 	(B)	the product of (I) the lesser of (1) Reallocation Group A Finance Charge Collections less the amount of Reallocation Group A Interest and (2) the
Reallocation Group A Default Amount and (II) a fraction, the numerator of which is the Series 2013-1 Default Amount and the denominator of which is the Reallocation Group A Default Amount; 

 

	 	(C)	the product of (I) the lesser of (1) Reallocation Group A Finance Charge Collections less the amount of Reallocation Group A Interest and the Reallocation
Group A Default Amount and (2) Reallocation Group A Fees and (II) a fraction, the numerator of which is Series 2013-1 Fees and the denominator of which is Reallocation Group A Fees; and 

 

	 	(D)	the product of (I) Reallocation Group A Finance Charge Collections less the sum of (1) Reallocation Group A Interest, (2) the Reallocation Group A
Default Amount and (3) Reallocation Group A Fees and (II) a fraction, the numerator of which is Series 2013-1 Additional Amount and the denominator of which is Reallocation Group A Additional Amounts. 

(c) If the amount of Reallocation Group A Finance Charge Collections for any Payment Date exceeds the sum of (i) Reallocation Group A
Interest, (ii) the Reallocation Group A Default Amount, (iii) Reallocation Group A Fees and (iv) Reallocation Group A Additional Amounts, then Series 2013-1 Reallocated Finance Charge Collections for such Payment Date shall include an
amount equal to the product of (x) the amount of such excess and (y) a fraction, the numerator of which is the Nominal Liquidation Amount as of the last day of the second preceding Monthly Period (or, with respect to the first Payment
Date, as of the Closing Date) and the denominator of which is the sum of such Nominal Liquidation Amount and the aggregate nominal liquidation amounts for all other Series included in Reallocation Group A as of such last day (or, for Series 2013-1,
with respect to the first Payment Date, as of the Closing Date). 
 Section 4.05 Application of Series 2013-1 Available
Finance Charge Collections on Deposit in the Collection Account. The Servicer shall apply, or shall cause the Indenture Trustee to apply by written instruction to the Indenture Trustee, on each Payment Date, Series 2013-1 Available Finance
Charge Collections on deposit in the Collection Account with respect to such Payment Date to make the following distributions in the following priority: 

  
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 (a) an amount equal to Class A Monthly Interest for such Payment Date,
plus the amount of any Class A Monthly Interest, or portion thereof, previously due but not paid to Class A Noteholders on a prior Payment Date, plus the amount of any Class A Additional Interest for such Payment Date,
plus the amount of any Class A Additional Interest, or portion thereof, previously due but not paid to Class A Noteholders on a prior Payment Date, shall be distributed to the Paying Agent for payment to Class A Noteholders on
such Payment Date; 
 (b) an amount equal to Class B Monthly Interest for such Payment Date, plus the
amount of any Class B Monthly Interest previously due but not paid to Class B Noteholders on a prior Payment Date, plus the amount of any Class B Additional Interest for such Payment Date, plus the amount of any Class B Additional
Interest, or portion thereof, previously due but not paid to Class B Noteholders on a prior Payment Date, shall be distributed to the Paying Agent for payment to Class B Noteholders on the applicable Payment Date; 

(c) an amount equal to Class C Monthly Interest for such Payment Date, plus the amount of any Class C Monthly
Interest previously due but not paid to Class C Noteholders on a prior Payment Date, plus the amount of any Class C Additional Interest for such Payment Date, plus the amount of any Class C Additional Interest, or portion thereof,
previously due but not paid to Class C Noteholders on a prior Payment Date, shall be distributed to the Paying Agent for payment to Class C Noteholders on the applicable Payment Date; 

(d) an amount equal to the Series 2013-1 Servicing Fee for such Payment Date, plus the amount of any Series 2013-1
Servicing Fee, or portion thereof, previously due but not paid to the Servicer on a prior Payment Date, shall be distributed to the Servicer (unless such amount has been netted against deposits to the Collection Account in accordance with
Section 2.1 of the Servicing Agreement); 
 (e) an amount equal to the Series 2013-1 Default Amount
for such Payment Date shall be treated as a portion of Series 2013-1 Available Principal Collections for such Payment Date; 
 (f) an amount (the “Series 2013-1 Additional Amount”) equal to the sum of the aggregate amount of Investor Charge-Offs and the amount of Reallocated Principal Collections which have not
previously been reimbursed shall be used to reimburse such amount pursuant to this subsection 4.05(f) and treated as Series 2013-1 Available Principal Collections for such Payment Date; 

(g) on each Payment Date from and after the Accumulation Reserve Account Funding Date, but prior to the date on which the
Accumulation Reserve Account terminates as described in subsection 4.12(f), an amount equal to the excess, if any, of the Required Accumulation Reserve Account Amount over the Available Accumulation Reserve Account Amount shall be deposited
into the Accumulation Reserve Account; 

  
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 (h) to make the targeted deposit to the Class C Reserve Account, if any,
pursuant to Section 4.13; 
 (i) upon the occurrence of an Event of Default with respect to Series
2013-1 and acceleration of the maturity of the Series 2013-1 Notes pursuant to Section 7.02 of the Indenture, the balance, if any, up to the Outstanding Dollar Principal Amount, less the amount of Series 2013-1 Available Principal
Collections allocated to Series 2013-1 on such Payment Date (other than pursuant to this clause (i)), shall be treated as Series 2013-1 Available Principal Collections for such Payment Date; and 

(j) the balance, if any, shall constitute a portion of Shared Excess Available Finance Charge Collections for such Payment
Date and shall be available for allocation to other Series in Shared Excess Available Finance Charge Collections Group A, to the extent needed, and thereafter paid to the holders of the Transferor Interest. 

Section 4.06 Application of Series 2013-1 Available Principal Collections. 

(a) On each Payment Date with respect to the Revolving Period, an amount equal to Series 2013-1 Available Principal Collections deposited
in the Collection Account with respect to the related Monthly Period shall be treated as Shared Excess Available Principal Collections with respect to such Monthly Period. 
 (b) On each Payment Date with respect to the Controlled Accumulation Period or the Early Amortization Period, an amount equal to the Series 2013-1 Available Principal Collections deposited in the
Collection Account for the related Monthly Period shall be distributed or deposited in the following order of priority: 
 (i) during the Controlled Accumulation Period and prior to the payment in full of the Class A Notes, the Class B Notes and the Class C Notes, an amount equal to the Monthly Principal for such Payment
Date shall be deposited into the Principal Funding Account in an amount not to exceed the Controlled Deposit Amount; 
 (ii) during the Early Amortization Period, an amount equal to the Monthly Principal for such Payment Date shall be distributed to the Paying Agent for payment to the Class A Noteholders on such
Payment Date and on each subsequent Payment Date until the Class A Stated Principal Amount has been paid in full; 
 (iii) after giving effect to the distribution referred to in clause (ii) above, during the Early Amortization Period, an amount equal to the Monthly Principal remaining, if any, shall be distributed
to the Paying Agent for payment to the Class B Noteholders on such Payment Date and on each subsequent Payment Date until the Class B Stated Principal Amount has been paid in full; 

(iv) after giving effect to the distribution referred to in clauses (ii) and (iii) above, during the Early
Amortization Period, an amount equal to the Monthly Principal remaining, if any, shall be distributed to the Paying Agent for payment to the 

  
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Class C Noteholders on such Payment Date and on each subsequent Payment Date until the Class C Stated Principal Amount has been paid in full; and 

(v) the balance of such Series 2013-1 Available Principal Collections shall be treated as Shared Excess Available
Principal Collections on each applicable Note Transfer Date for the benefit of other Series in Shared Excess Available Principal Collections Group A. 
 (c) On the earlier to occur of (i) the first Payment Date with respect to the Early Amortization Period and (ii) the Expected Final Payment Date, the Indenture Trustee, acting in accordance with
instructions from the Servicer, shall withdraw from the Principal Funding Account and distribute to the Paying Agent for payment first, to the Class A Noteholders up to the Class A Stated Principal Amount, second, to the
Class B Noteholders up to the Class B Stated Principal Amount and third, to the Class C Noteholders up to the Class C Stated Principal Amount, the amounts deposited into the Principal Funding Account pursuant to subsection 4.06(b)(i).

 Section 4.07 Principal Funding Account; Controlled Accumulation Period. 

(a) (i) The Issuer shall cause to be established and maintained, in the name of the Indenture Trustee, an Eligible Deposit
Account (the “Principal Funding Account”), bearing a designation clearly indicating that the funds and other property credited thereto are held for the benefit of the Series 2013-1 Noteholders. The Principal Funding Account shall be
held by the Indenture Trustee in accordance with subsection 5.03(c) of the Indenture . 
 (ii) At the
written direction of the Servicer, funds on deposit in the Principal Funding Account shall be invested by the Indenture Trustee in Eligible Investments selected by the Servicer. All such Eligible Investments shall be held by the Indenture Trustee
for the benefit of the Series 2013-1 Noteholders; provided that on each Payment Date, all interest and other investment income (net of losses and investment expenses) (“Principal Funding Account Investment Proceeds”) on funds
on deposit therein shall be applied as set forth in paragraph (iii) below. Funds on deposit in the Principal Funding Account shall be invested in Eligible Investments that shall mature so that such funds shall be available for withdrawal on or
prior to the following Note Transfer Date. Unless the Servicer directs otherwise, funds deposited in the Principal Funding Account on a Note Transfer Date (which immediately precedes a Payment Date) upon the maturity of any Eligible Investments are
not required to be invested overnight. No such Eligible Investment shall be disposed of prior to its maturity; provided, however, that the Indenture Trustee shall sell, liquidate or dispose of any such Eligible Investment if,
prior to the maturity of such Eligible Investment, a default occurs in the payment of principal, interest or any other amount with respect to such Eligible Investment; provided further, however, that the Servicer shall
deliver prompt written notice to the Indenture Trustee of any such default; and provided further that, subject to Section 8.01 of the Indenture, the Indenture Trustee shall not in any way be held liable by reason of any
insufficiency in such Principal Funding Account resulting from any loss on any Eligible Investment included therein except for losses attributable to the Indenture Trustee’s 

  
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failure to make payments on such Eligible Investments issued by the Indenture Trustee, in its commercial capacity, in accordance with their terms. 

(iii) On each Payment Date with respect to the Controlled Accumulation Period, the Servicer shall direct the Indenture
Trustee in writing to withdraw from the Principal Funding Account and deposit into the Collection Account all Principal Funding Account Investment Proceeds then on deposit in the Principal Funding Account and such Principal Funding Account
Investment Proceeds shall be treated as a portion of Series 2013-1 Available Finance Charge Collections. 
 (iv)
Reinvested interest and other investment income on funds deposited in the Principal Funding Account shall not be considered to be principal amounts on deposit therein for purposes of this Indenture Supplement. 

(b) (i) The Indenture Trustee shall possess all right, title and interest in all funds and property from time to time
credited to the Principal Funding Account and in all proceeds thereof. The Principal Funding Account shall be under the exclusive control of the Indenture Trustee for the benefit of the Series 2013-1 Noteholders. If, at any time, the Principal
Funding Account ceases to be an Eligible Deposit Account, the Indenture Trustee (or the Servicer on its behalf) shall within ten Business Days (or such longer period, so long as the Note Rating Agency Condition is satisfied) establish a new
Principal Funding Account meeting the conditions specified in paragraph (a)(i) above as an Eligible Deposit Account and shall transfer any funds or other property to such new Principal Funding Account. 

(ii) Pursuant to the authority granted to the Servicer in Section 3.1 of the Servicing Agreement, the Servicer
shall have the power to instruct the Indenture Trustee to make withdrawals and payments from the Principal Funding Account for the purposes of carrying out the Servicer’s or Indenture Trustee’s duties hereunder. 

(c) The Controlled Accumulation Period is scheduled to commence at the close of business on the last day of the December 2017 Monthly
Period; provided, however, that if the Controlled Accumulation Period Length (determined as described below) is less than two months, then the date on which the Controlled Accumulation Period actually commences may, at the option of
the Transferor, be delayed to the close of business on the last day of the January 2018 Monthly Period and, as a result, the number of Monthly Periods in the Controlled Accumulation Period will equal one. On the Note Transfer Date immediately
preceding the December 2017 Payment Date, the Servicer shall determine the “Controlled Accumulation Period Length,” which shall equal the number of months not less than the number of whole calendar months reasonably expected by the
Servicer to be necessary to accumulate from Series 2013-1 Available Principal Collections and Shared Excess Available Principal Collections expected to be available to Series 2013-1 from other Shared Excess Available Principal Collections Series
during the Controlled Accumulation Period an amount equal to the Initial Dollar Principal Amount; provided, however, that the Controlled Accumulation Period Length shall not be determined to be less than one month. 

  
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 Section 4.08 Investor Charge-Offs. On each Note Transfer Date, the Servicer
shall calculate the Series 2013-1 Default Amount, if any, for the related Payment Date. If, on any Payment Date, the Series 2013-1 Default Amount for the related Monthly Period exceeds the sum of (i) the amount available therefor pursuant to
subsection 4.05(e) with respect to such Monthly Period and (ii) the amount of Reallocated Principal Collections with respect to the related Monthly Period applied in accordance with subsection 4.05(e) pursuant to
Section 4.09, the Nominal Liquidation Amount will be reduced by the amount of such excess, but not by more than the Series 2013-1 Default Amount for such Payment Date (such reduction, an “Investor Charge-Off”). 

Section 4.09 Reallocated Principal Collections. On each Payment Date, the Servicer shall apply, to the extent permitted
herein, or shall cause the Indenture Trustee to apply, by written instruction to the Indenture Trustee, Reallocated Principal Collections with respect to such Payment Date, in an amount equal to the lesser of (a) the product of (i) the
Series 2013-1 Principal Allocation Percentage and (ii) Principal Collections with respect to the related Monthly Period and (b) the Monthly Subordination Amount for the preceding Monthly Period in accordance with the priority set forth in
subsections 4.05(a), (b), (d) and (e). On each Payment Date, the Nominal Liquidation Amount shall be reduced by the amount of Reallocated Principal Collections for such Payment Date. 

Section 4.10 Shared Excess Available Finance Charge Collections. 

(a) Series 2013-1 shall be included in Shared Excess Available Finance Charge Collections Group A for the purpose of sharing Shared Excess
Available Finance Charge Collections. 
 (b) Unless otherwise provided pursuant to the terms of Section 4.12 of the
Indenture, Shared Excess Available Finance Charge Collections with respect to any Monthly Period shall be shared within Shared Excess Available Finance Charge Collections Group A to cover the applicable Series Available Finance Charge Collections
Shortfalls for such Monthly Period, if any, and applied on the Note Transfer Date in the immediately succeeding Monthly Period for each Shared Excess Available Finance Charge Collections Group Series with a Series Available Finance Charge
Collections Shortfall for such Monthly Period. Shared Excess Available Finance Charge Collections allocable to Series 2013-1 with respect to each Monthly Period shall mean an amount equal to the Series Available Finance Charge Collections Shortfall,
if any, with respect to Series 2013-1 for such Monthly Period; provided, however, that if the aggregate amount of Shared Excess Available Finance Charge Collections for all Series in Shared Excess Available Finance Charge Collections
Group A for each Monthly Period is less than the Aggregate Series Available Finance Charge Collections Shortfall for such Monthly Period, then Shared Excess Available Finance Charge Collections allocable to Series 2013-1 with respect to such Monthly
Period shall equal the product of (i) Shared Excess Available Finance Charge Collections for all Series in Shared Excess Available Finance Charge Collections Group A for such Monthly Period and (ii) a fraction, the numerator of which is
the Series Available Finance Charge Collections Shortfall with respect to Series 2013-1 for such Monthly Period and the denominator of which is the Aggregate Series Available Finance Charge Collections Shortfall for such Monthly Period. 

  
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 (c) To the extent that Shared Excess Available Finance Charge Collections exceed the
Aggregate Series Available Finance Charge Collections Shortfall, such excess shall be paid to the holders of the Transferor Interest. 
 Section 4.11 Shared Excess Available Principal Collections. 
 (a)
Series 2013-1 shall be included in Shared Excess Available Principal Collections Group A for the purpose of sharing Shared Excess Available Principal Collections. 
 (b) Unless otherwise provided pursuant to the terms of Section 4.12 of the Indenture, Shared Excess Available Principal Collections with respect to any Monthly Period shall be shared within
Shared Excess Available Principal Collections Group A to cover the applicable Series Available Principal Collections Shortfalls for such Monthly Period, if any, and applied on the Note Transfer Date in the immediately succeeding Monthly Period for
each Shared Excess Available Principal Collections Series with a Series Available Principal Collections Shortfall for such Monthly Period. Shared Excess Available Principal Collections allocable to Series 2013-1 with respect to each Monthly Period
shall mean an amount equal to the Series Available Principal Collections Shortfall, if any, with respect to Series 2013-1 for such Monthly Period; provided, however, that if the aggregate amount of Shared Excess Available Principal
Collections for all Series in Shared Excess Available Principal Collections Group A for each Monthly Period is less than the Aggregate Series Available Principal Collections Shortfall for such Monthly Period, then Shared Excess Available Principal
Collections allocable to Series 2013-1 with respect to such Monthly Period shall equal the product of (i) Shared Excess Available Principal Collections for all Series in Shared Excess Available Principal Collections Group A for such Monthly
Period and (ii) a fraction, the numerator of which is the Series Available Principal Collections Shortfall with respect to Series 2013-1 for such Monthly Period and the denominator of which is the Aggregate Series Available Principal
Collections Shortfall for such Monthly Period. 
 (c) Unless otherwise specified in the Indenture Supplement for any other Series
in Shared Excess Available Principal Collections Group A, any Shared Excess Available Principal Collections for each Series in Shared Excess Available Principal Collections Group A for any Monthly Period which shall remain after application pursuant
to clause (b) above shall be treated as part of the Reinvestment Amount for the Note Transfer Date in the next succeeding Monthly Period. Shared Excess Available Principal Collections will not be available for application by other Series of
Notes that are not included in Shared Excess Available Principal Collections Group A. 
 Section 4.12 Accumulation
Reserve Account. 
 (a) The Servicer shall establish and maintain, in the name of the Indenture Trustee an Eligible Deposit
Account (the “Accumulation Reserve Account”) bearing a designation clearly indicating that the funds and other property credited thereto are held for the benefit of the Series 2013-1 Noteholders. The Accumulation Reserve Account
shall be held by the Indenture Trustee in accordance with subsection 5.03(c) of the Indenture. The Indenture Trustee shall possess all right, title and interest in all funds and property from time to time credited to the Accumulation Reserve
Account and in all proceeds thereof. The Accumulation 

  
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Reserve Account shall be under the exclusive control of the Indenture Trustee for the benefit of the Series 2013-1 Noteholders. If at any time the Accumulation Reserve Account ceases to be an
Eligible Deposit Account, the Transferor shall notify the Indenture Trustee, and the Indenture Trustee upon being notified in writing of such ineligibility (or the Servicer on its behalf) shall within 30 calendar days (or such longer period, not to
exceed 45 calendar days, so long as the Note Rating Agency Condition is satisfied) establish a new Accumulation Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any funds or other property to
such new Accumulation Reserve Account. The Indenture Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Accumulation Reserve Account from time to time in an amount up to the Available Accumulation Reserve Account
Amount at such time, for the purposes set forth in this Indenture Supplement, and (ii) on each Payment Date (from and after the Accumulation Reserve Account Funding Date) prior to the termination of the Accumulation Reserve Account make a
deposit into the Accumulation Reserve Account in the amount specified in, and otherwise in accordance with, subsection 4.05(g). 
 (b) Funds on deposit in the Accumulation Reserve Account shall be invested by the Indenture Trustee at the written direction of the Servicer (or its agent appointed pursuant to subsection 4.14(b)) in
Eligible Investments. Funds on deposit in the Accumulation Reserve Account on any Note Transfer Date, after giving effect to any withdrawals from the Accumulation Reserve Account on such Note Transfer Date, shall be invested in such investments that
shall mature so that such funds shall be available for withdrawal on or prior to the following Note Transfer Date. No such Eligible Investment shall be disposed of prior to its maturity; provided, however, that the Indenture Trustee
shall sell, liquidate or dispose of any such Eligible Investment if, prior to the maturity of such Eligible Investment, a default occurs in the payment of principal, interest or any other amount with respect to such Eligible Investment; provided
further, however, that the Servicer shall deliver prompt written notice to the Indenture Trustee of any such default; and provided further that, subject to Section 8.01 of the Indenture, the Indenture Trustee shall not
in any way be held liable by reason of any insufficiency in such Accumulation Reserve Account resulting from any loss on any Eligible Investment included therein except for losses attributable to the Indenture Trustee’s failure to make payments
on such Eligible Investments issued by the Indenture Trustee, in its commercial capacity, in accordance with their terms. On each Payment Date, all interest and earnings (net of losses and investment expenses) accrued since the preceding Payment
Date on funds on deposit in the Accumulation Reserve Account shall be retained in the Accumulation Reserve Account (to the extent that the Available Accumulation Reserve Account Amount is less than the Required Accumulation Reserve Account Amount)
and the balance, if any, shall be deposited in the Collection Account and treated as Series 2013-1 Available Finance Charge Collections. For purposes of determining the availability of funds or the balance in the Accumulation Reserve Account for any
reason under this Indenture Supplement, except as otherwise provided in the preceding sentence, investment earnings on such funds shall be deemed not to be available or on deposit. 

(c) On the Note Transfer Date preceding each Payment Date with respect to the Controlled Accumulation Period and on or before the first
Payment Date with respect to the Early Amortization Period, the Servicer shall calculate the “Accumulation Reserve Draw Amount” which shall be equal to the excess, if any, of the Covered Amount with respect to such Payment Date over
the Principal Funding Account Investment Proceeds with respect to such Payment Date; provided that such amount shall be reduced to the extent that funds otherwise 

  
 31 

 
would be available for deposit in the Accumulation Reserve Account under subsection 4.05(g) with respect to such Payment Date. 

(d) In the event that for any Payment Date the Accumulation Reserve Draw Amount is greater than zero, the Accumulation Reserve Draw
Amount, up to the Available Accumulation Reserve Account Amount, shall be withdrawn from the Accumulation Reserve Account on the related Note Transfer Date by the Indenture Trustee (acting in accordance with the instructions of the Servicer) and
deposited into the Collection Account for application as Series 2013-1 Available Finance Charge Collections for such Payment Date. 
 (e) In the event that the Accumulation Reserve Account Surplus on any Payment Date, after giving effect to all deposits to and withdrawals from the Accumulation Reserve Account with respect to such
Payment Date, is greater than zero, the Indenture Trustee (acting in accordance with the instructions of the Servicer) shall withdraw from the Accumulation Reserve Account, and pay to the Owner Trustee for distribution in accordance with the Trust
Agreement an amount equal to such Accumulation Reserve Account Surplus. 
 (f) Upon the earliest to occur of (i) the day on
which the Nominal Liquidation Amount is reduced to zero, (ii) the occurrence of an Event of Default with respect to the Series 2013-1 Notes and acceleration of such Series 2013-1 Notes pursuant to Section 7.02 of the Indenture,
(iii) the first Payment Date with respect to the Early Amortization Period, (iv) the Expected Final Payment Date and (v) the termination of the Trust pursuant to the Trust Agreement, the Indenture Trustee (acting in accordance with
the instructions of the Servicer) after the prior payment of all amounts owing to the Series 2013-1 Noteholders which are payable from the Accumulation Reserve Account as provided herein, shall withdraw from the Accumulation Reserve Account and pay
to the holders of the Transferor Interest all amounts, if any, on deposit in the Accumulation Reserve Account and the Accumulation Reserve Account shall be deemed to have terminated for purposes of this Indenture Supplement. 

(g) Notwithstanding the foregoing, following an Event of Default with respect to the Series 2013-1 Notes and acceleration of such Series
2013-1 Notes, any Accumulation Reserve Account Surplus or other amounts on deposit in the Accumulation Reserve Account shall be applied toward payment of any amounts owing with respect to the Series 2013-1 Notes before such amounts are paid to the
holders of the Transferor Interest. 
 Section 4.13 Class C Reserve Account. 

(a) The Servicer shall establish and maintain, in the name of the Indenture Trustee an Eligible Deposit Account (the “Class C
Reserve Account”) bearing a designation clearly indicating that the funds and other property credited thereto are held for the benefit of the Class C Noteholders. The Class C Reserve Account shall be held by the Indenture Trustee in
accordance with subsection 5.03(c) of the Indenture. The Indenture Trustee shall possess all right, title and interest in all funds and property from time to time credited to the Class C Reserve Account and in all proceeds thereof. The Class
C Reserve Account shall be under the exclusive control of the Indenture Trustee for the benefit of the Class C Noteholders. If at any time the Class C Reserve Account ceases to be an Eligible Deposit Account, the Transferor shall notify the
Indenture Trustee, and the Indenture Trustee upon being notified in writing of such 

  
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ineligibility (or the Servicer on its behalf) shall within 30 calendar days (or such longer period, not to exceed 45 calendar days, so long as the Note Rating Agency Condition is satisfied)
establish a new Class C Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any funds or other property to such new Class C Reserve Account. The Indenture Trustee, at the direction of the
Servicer, shall (i) make withdrawals from the Class C Reserve Account from time to time in an amount up to the Available Class C Reserve Account Amount at such time, for the purposes set forth in this Indenture Supplement, and (ii) make
deposits to the Class C Reserve Account from time to time in the amount specified in, and otherwise in accordance with, subsection 4.05(h). 
 (b) Funds on deposit in the Class C Reserve Account shall be invested by the Indenture Trustee at the written direction of the Servicer (or its agent appointed pursuant to subsection 4.14(b)) in Eligible
Investments. Funds on deposit in the Class C Reserve Account on any Note Transfer Date, after giving effect to any withdrawals from the Class C Reserve Account on such Note Transfer Date, shall be invested in such investments that shall mature so
that such funds shall be available for withdrawal on or prior to the following Note Transfer Date. No such Eligible Investment shall be disposed of prior to its maturity; provided, however, that the Indenture Trustee shall sell,
liquidate or dispose of any such Eligible Investment if, prior to the maturity of such Eligible Investment, a default occurs in the payment of principal, interest or any other amount with respect to such Eligible Investment; provided further,
however, that the Servicer shall deliver prompt written notice to the Indenture Trustee of any such default; and provided further that, subject to Section 8.01 of the Indenture, the Indenture Trustee shall not in any way be
held liable by reason of any insufficiency in such Class C Reserve Account resulting from any loss on any Eligible Investment included therein except for losses attributable to the Indenture Trustee’s failure to make payments on such Eligible
Investments issued by the Indenture Trustee, in its commercial capacity, in accordance with their terms. On each Payment Date, all interest and earnings (net of losses and investment expenses) accrued since the preceding Payment Date on funds on
deposit in the Class C Reserve Account shall be retained in the Class C Reserve Account (to the extent that the Available Class C Reserve Account Amount is less than the Required Class C Reserve Account Amount) and, to the extent the Series 2013-1
Notes have not been accelerated pursuant to Section 7.02 of the Indenture, the balance, if any, shall be paid to the holders of the Transferor Interest. For purposes of determining the availability of funds or the balance in the Class C
Reserve Account for any reason under this Indenture Supplement, except as otherwise provided in the preceding sentence, investment earnings on such funds shall be deemed not to be available or on deposit. 

(c) The amount targeted to be on deposit in the Class C Reserve Account for any Payment Date will be an amount equal to the product of
(i) the Class C Reserve Account Percentage for the related Monthly Period and (ii) the Initial Dollar Principal Amount; provided, however, that if an Early Amortization Event or Event of Default occurs with respect to the
Series 2013-1 Notes, the amount targeted to be on deposit will be the Outstanding Dollar Principal Amount of the Class C Notes. 

(d) After the Class C Reserve Account Percentage has been increased to a percentage above 0% pursuant to any of clauses (ii) through
(vi) of the definition thereof or pursuant to the proviso in the definition thereof, the Class C Reserve Account Percentage shall remain at that percentage until (A) further increased to a higher required percentage specified in

  
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clauses (iii) through (vi) of the definition thereof or in the proviso in the definition thereof or (B) the Payment Date on which the Quarterly Excess Spread Percentage has
increased to a level above that for the then current Class C Reserve Account Percentage or the Quarterly Principal Payment Rate is greater than 60%, in which case the Class C Reserve Account Percentage shall be decreased to the appropriate
percentage in clauses (i) through (v) of the definition thereof or in the proviso in the definition thereof. Notwithstanding the foregoing, if an Early Amortization Event has occurred and is continuing, or an Event of Default with respect
to the Series 2013-1 Notes has occurred and is continuing, the Class C Reserve Account Percentage shall no longer be subject to reduction. 
 (e) With respect to any Payment Date, if the amount distributable pursuant to subsection 4.05(c) exceeds the amount available therefor pursuant to subsection 4.05(c), an amount equal to that
deficiency will be withdrawn from the Class C Reserve Account and applied in accordance with subsection 4.05(c). 
 (f)
If, on and after the earliest to occur of (i) the date on which Collateral is sold following an Event of Default with respect to the Series 2013-1 Notes and acceleration of such Series 2013-1 Notes pursuant to Section 7.02 of the
Indenture, (ii) any date on or after the Expected Final Payment Date on which the amount on deposit in the Principal Funding Account (to the extent such amount exceeds the sum of the Outstanding Dollar Principal Amount of the Class A Notes
and the Class B Notes) plus the aggregate amount on deposit in the Class C Reserve Account with respect to the Class C Notes equal or exceeds the Outstanding Dollar Principal Amount of the Class C Notes and (iii) the Legal Maturity Date,
the amount on deposit in the Principal Funding Account is insufficient to pay in full the amounts for which withdrawals are required pursuant to Section 4.06, an amount equal to that deficiency will be withdrawn from the Class C Reserve
Account and deposited into the Principal Funding Account to pay principal of the Class C Notes. 
 (g) If on any Payment Date
with respect to which the Series 2013-1 Notes have not been accelerated pursuant to Section 7.02 of the Indenture, the aggregate amount on deposit in the Class C Reserve Account exceeds the amount required to be on deposit in the Class C
Reserve Account, the amount of such excess will be withdrawn from the Class C Reserve Account and paid to the holders of the Transferor Interest; provided that, notwithstanding anything else to the contrary in this Section 4.13,
if an Event of Default shall have occurred with respect to Series 2013-1 and the maturity of the Series 2013-1 Notes shall have been accelerated under Section 7.02 of the Indenture, upon the earlier to occur of (1) the payment in
full of all principal and interest owing to the Class A Noteholders and the Class B Noteholders and (2) the Legal Maturity Date, any amounts remaining on deposit in the Class C Reserve Account shall be applied to pay all amounts due and
payable on the Class C Notes first, and then, to the extent any funds are remaining, shall be applied to pay all amounts due and payable on the Class A Notes and the Class B Notes, if any, in that order, each as provided in
Section 7.02 of the Indenture. 
 (h) No Transferor shall sell, transfer or assign any interest in the Class C
Reserve Account without (x) the delivery to the Indenture Trustee of an Issuer Tax Opinion and any applicable Master Trust Tax Opinion and (y) providing prior written notice to the Note Rating Agencies of such assignment. 

  
 34 

 Section 4.14 Investment Instructions. 

(a) Any investment instructions required to be given to the Indenture Trustee pursuant to the terms hereof must be given to the Indenture
Trustee no later than 12:00 noon (New York City time) on the Business Day immediately preceding the date such investment is to be made. In the event the Indenture Trustee receives such investment instruction later than such time, the Indenture
Trustee may, but shall have no obligation to, make such investment on the date specified in such investment instruction. In the event the Indenture Trustee receives an investment instruction later than the time required by the first sentence of this
paragraph (a), and the Indenture Trustee is unable to make the applicable investment on the date specified in the such investment instruction, such investment shall be made by the Indenture Trustee on the next succeeding Business Day. In no event
shall the Indenture Trustee be liable for any investment not made pursuant to investment instructions received after 12:00 noon (New York City time) on the Business Day immediately preceding the date such investment is to be made. 

(b) With respect to investments made by the Indenture Trustee pursuant to the terms hereof, the Servicer may appoint as its agent under a
separate agreement a registered investment advisor and authorize such agent to give instructions on behalf of the Servicer to the Indenture Trustee for funds to be invested and reinvested in one or more Eligible Investments. The Servicer shall
provide the Indenture Trustee with a written direction certifying any such appointment. The Indenture Trustee shall be entitled to conclusively rely on, and shall be protected in acting upon, instructions received from such agent on behalf of the
Servicer. 
 Section 4.15 Determination of LIBOR. 

(a) On each LIBOR Determination Date, the Indenture Trustee shall determine LIBOR for the related Interest Period, which shall be the rate
for deposits in United States dollars for a period equal to one month (commencing on the first day of such Interest Period) that appears on Reuters Screen LIBOR01 Page as of 11:00 a.m., London time, on such date. Upon such determination, the
Indenture Trustee shall notify the Servicer of LIBOR for such LIBOR Determination Date. If such rate does not appear on Reuters Screen LIBOR01 Page, the rate for the 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 period equal to one month (commencing on the first day of such Interest
Period). The Servicer 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 shall be the arithmetic mean of the rates quoted by major banks in New York City, selected by the Servicer, 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 period equal to one month (commencing on the first day of such Interest Period). If the banks selected by the Servicer are not quoting rates as
provided in the immediately preceding sentence, LIBOR for such Interest Period shall be LIBOR in effect for the immediately preceding Interest Period. 

  
 35 

 (b) The Servicer shall determine, and promptly notify the Transferor and the Indenture
Trustee of, the Class A Note Interest Rate, the Class B Note Interest Rate and the Class C Note Interest for the applicable Interest Period. The Class A Note Interest Rate, the Class B Note Interest Rate and the Class C Note Interest Rate
applicable to the then current and the immediately preceding Interest Periods may be obtained by any Series 2013-1 Noteholder by telephoning the Indenture Trustee at its Corporate Trust Office at (212) 815-6258. 

(c) On each LIBOR Determination Date prior to 3:00 p.m., New York City time, the Indenture Trustee shall send to the Transferor and the
Servicer by facsimile or electronic transmission of LIBOR for the following Interest Period. 
 Section 4.16 Sale of
Collateral for Series 2013-1 Notes That Are Accelerated or Reach Legal Maturity. 
 (a) If the Series
2013-1 Notes have been accelerated pursuant to Section 7.02 of the Indenture following an Event of Default, the Indenture Trustee may, and at the direction of the Holders of not less than 66  2/3% of the Outstanding Dollar Principal Amount of the Series 2013-1 Notes will, sell Collateral (or interests therein) in an amount (as determined by the Issuer and provided to the Indenture Trustee) not to
exceed the sum of (i) the Nominal Liquidation Amount as of the close of business on the day preceding such sale and (ii) the product of (A) the Nominal Liquidation Amount as of the close of business on the day preceding such sale and
(B) the Discount Option Percentage. 
 (b) Such a sale will be permitted only if at least one of the following
conditions is met: 
 (i) the Holders of more than 90% of the aggregate Outstanding Dollar Principal Amount of
the Series 2013-1 Notes consent; or 
 (ii) the net proceeds of such sale (plus amounts on deposit in the
Issuer Accounts) would be sufficient to pay all amounts due on the Series 2013-1 Notes; or 

(iii) the Indenture Trustee in consultation with the Servicer determines that the funds to be
allocated to the Series 2013-1 Notes, including (1) Series 2013-1 Available Finance Charge Collections and Series 2013-1 Available Principal Collections and (2) amounts on deposit in the Issuer Accounts, may not be sufficient on an ongoing
basis to make all payments on the Series 2013-1 Notes as such payments would have become due if such obligations had not been declared due and payable, and Series 2013-1 Noteholders evidencing not less than 66  2/3% of the aggregate Outstanding Dollar Principal Amount of the Series 2013-1 Notes consent to the sale; provided that the Issuer will provide the Indenture Trustee with the information reasonably
requested by the Indenture Trustee to make such determination. 
 (c) If the Nominal Liquidation Amount is greater than
zero on the Legal Maturity Date (after giving effect to any allocations, deposits and payments otherwise to be made on that Legal Maturity Date), the Indenture Trustee shall, no later than seven Business

  
 36 

 
Days following the Legal Maturity Date, sell or cause to be sold Collateral (or interests therein) in an amount not to exceed the sum of (i) the Nominal Liquidation Amount as of the close of
business on the day preceding such sale and (ii) the product of (A) the Nominal Liquidation Amount as of the close of business on the day preceding such sale and (B) the Discount Option Percentage. 

(d) Upon the occurrence of such sale, the Nominal Liquidation Amount shall be automatically reduced to zero and Principal Collections and
Finance Charge Collections shall no longer be allocated to the Series 2013-1 Notes. Series 2013-1 Noteholders shall receive the proceeds of such sale in an amount not to exceed the Outstanding Dollar Principal Amount of, plus any Series
2013-1 Monthly Interest due on, such Series 2013-1 Notes. 
 (e) Sale proceeds received with respect to the Series 2013-1 Notes
pursuant to clause (a) or (c) above will be allocated in the following priority: 
 first, to
the Class A Noteholders, until the Class A Stated Principal Amount and all current and past due Class A Monthly Interest and Class A Additional Interest has been paid in full; 

second, to the Class B Noteholders, until the Class B Stated Principal Amount and all current and past due Class B
Monthly Interest and Class B Additional Interest has been paid in full; and 
 third, to the Class C
Noteholders, until the Class C Stated Principal Amount and all current and past due Class C Monthly Interest and Class C Additional Interest has been paid in full. 
 [END OF ARTICLE IV] 

  
 37 

 ARTICLE V 
 EARLY AMORTIZATION OF NOTES 
 Section 5.01 Early Amortization Events.
In addition to the events identified as Early Amortization Events in Section 12.01 of the Indenture, the occurrence of any of the following events (each, an “Early Amortization Event”) shall result in an early amortization
event for the Series 2013-1 Notes without any notice or other action on the part of the Indenture Trustee or the applicable Noteholders, unless otherwise specified: 

(i) if the Quarterly Excess Spread Percentage is less than the Required Excess Spread Percentage; or 

(ii) if (x) the Transferor fails to add additional Trust Assets to the Trust or (y) the Invested Amount of an
existing Collateral Certificate is not increased when either action is required pursuant to Section 2.13(a) of the Transfer Agreement; or 
 (iii) if any Servicer Default occurs which would have a material adverse effect on the Series 2013-1 Noteholders; or 

(iv) the breach of other covenants, representations and warranties by TRS, the Transferor or the Issuer under this
Indenture Supplement or any other Transaction Document that has a material adverse effect on the Series 2013-1 Noteholders and continues unremedied for a period of 60 days after written notice of such failure is given to TRS or the Transferor by the
Indenture Trustee or to the Transferor and the Indenture Trustee by any Series 2013-1 Noteholder; or 
 (v)
failure on the part of the Transferor to make any payment, transfer or deposit required to be made by it by the terms of the Transfer Agreement on or before the date occurring five (5) Business Days after the date such payment or deposit is
required to be made therein; provided, however, that any such failure caused by a nonwillful act of the Transferor shall not constitute an Early Amortization Event if the Transferor promptly remedies such failure within five
(5) Business Days after receiving notice of such failure or otherwise becoming aware of such failure. 
 [END OF ARTICLE V]

  
 38 

 ARTICLE VI 
 LEGAL MATURITY; FINAL DISTRIBUTIONS 
 Section 6.01 Legal Maturity. The
Series 2013-1 Notes shall be considered to be paid in full, the Holders of such Series 2013-1 Notes shall have no further right or claim, and the Issuer shall have no further obligation or liability with respect to such Series 2013-1 Notes on the
earliest to occur of (i) the date on which the Series 2013-1 Stated Principal Amount, and all Monthly Interest on such Series 2013-1 Notes, is paid in full, (ii) the date on which Collateral is sold and the proceeds in respect thereof
applied in accordance with Section 4.16 and (iii) the seventh Business Day following the Legal Maturity Date, in each case after giving effect to all deposits, allocations, reimbursements, reallocations, sales of Collateral and
payments to be made on such date. 
 [END OF ARTICLE VI] 

  
 39 

 ARTICLE VII 
 DELIVERY OF SERIES 2013-1 NOTES; 
 DISTRIBUTIONS AND REPORTS TO 

SERIES 2013-1 NOTEHOLDERS 
 Section 7.01 Form of Delivery for the Series 2013-1 Notes; Depository; Denominations. 
 (a) The Series 2013-1 Notes shall be delivered in the form of global Registered Notes as provided in Section 3.02 of the Indenture. 

(b) The Depository for the Series 2013-1 Notes shall be The Depository Trust Company, and the Series 2013-1 Notes shall initially be
registered in the name of Cede & Co., its nominee. 
 (c) The Series 2013-1 Notes shall be issued in minimum
denominations of $100,000 and integral multiples of $1,000. 
 Section 7.02 Delivery and Payment for the Series 2013-1
Notes. The Issuer shall execute and deliver the Series 2013-1 Notes to the Indenture Trustee for authentication, and the Indenture Trustee shall deliver the Series 2013-1 Notes when authenticated, each in accordance with Section 4.03
of the Indenture. 
 Section 7.03 Distributions. 

(a) On each Payment Date, the Paying Agent shall distribute, based upon the statement delivered by the Servicer pursuant to
Section 7.04(a) hereof, to each Class A Noteholder of record on the related Record Date such Class A Noteholder’s pro rata share of the amounts held by the Paying Agent that are allocated and available on such
Payment Date to pay interest on the Class A Notes pursuant to this Indenture Supplement. 
 (b) On each Payment Date with
respect to the Early Amortization Period and on the Expected Final Payment Date, the Paying Agent shall distribute, based upon the statement delivered by the Servicer pursuant to Section 7.04(a) hereof, to each Class A Noteholder of
record on the related Record Date such Class A Noteholder’s pro rata share of the amounts on deposit in the Principal Funding Account or otherwise held by the Paying Agent that are allocated and available on such Payment Date to pay
principal of the Class A Notes pursuant to this Indenture Supplement. 
 (c) On each Payment Date, the Paying Agent shall
distribute, based upon the statement delivered by the Servicer pursuant to Section 7.04(a) hereof, to each Class B Noteholder of record on the related Record Date such Class B Noteholder’s pro rata share of the

  
 40 

 
amounts held by the Paying Agent that are allocated and available on such Payment Date to pay interest on the Class B Notes pursuant to this Indenture Supplement. 

(d) On each Payment Date with respect to the Early Amortization Period and on the Expected Final Payment Date, the Paying Agent shall
distribute, based upon the statement delivered by the Servicer pursuant to Section 7.04(a) hereof, to each Class B Noteholder of record on the related Record Date such Class B Noteholder’s pro rata share of the amounts on
deposit in the Principal Funding Account or otherwise held by the Paying Agent that are allocated and available on such Payment Date to pay principal of the Class B Notes pursuant to this Indenture Supplement. 

(e) On each Payment Date, the Paying Agent shall distribute, based upon the statement delivered by the Servicer pursuant to
Section 7.04(a) hereof, to each Class C Noteholder of record on the related Record Date such Class C Noteholder’s pro rata share of the amounts held by the Paying Agent that are allocated and available on such Payment Date to
pay interest on the Class C Notes pursuant to this Indenture Supplement. 
 (f) On each Payment Date with respect to the Early
Amortization Period and on the Expected Final Payment Date, the Paying Agent shall distribute, based upon the statement delivered by the Servicer pursuant to Section 7.04(a) hereof, to each Class C Noteholder of record on the related
Record Date such Class C Noteholder’s pro rata share of the amounts on deposit in the Principal Funding Account or otherwise held by the Paying Agent that are allocated and available on such Payment Date to pay principal of the Class C
Notes pursuant to this Indenture Supplement. 
 (g) The distributions to be made pursuant to this Section 7.03 are
subject to the provisions of Sections 2.7 and 4.1 of the Transfer Agreement, Section 6.1 of the Servicing Agreement and Section 13.08 of the Indenture. 

(h) Except as provided in Section 13.08 of the Indenture with respect to a final distribution, distributions to Series 2013-1
Noteholders hereunder shall be made by check mailed to each Series 2013-1 Noteholder at such Series 2013-1 Noteholder’s address appearing in the Note Register without presentation or surrender of any Series 2013-1 Note or the making of any
notation thereon; provided, however, that with respect to Series 2013-1 Notes registered in the name of a Clearing Agency, such distributions shall be made to such Clearing Agency in immediately available funds. 

Section 7.04 Reports and Statements to Series 2013-1 Noteholders. 

(a) On each Payment Date, the Paying Agent, on behalf of the Indenture Trustee, shall forward to each Series 2013-1 Noteholder a statement
substantially in the form of Exhibit B-1 (or otherwise containing substantially comparable information) prepared by the Servicer and delivered to the Paying Agent. 
 (b) Not later than each Note Transfer Date, the Servicer shall deliver to the Indenture Trustee, the Paying Agent, the Transferor, each Note Rating Agency and the Owner Trustee (i) a statement
substantially in the form of Exhibit B-1 (or otherwise containing 

  
 41 

 
substantially comparable information) prepared by the Servicer and (ii) a certificate of a Servicing Officer substantially in the form of Exhibit C (or otherwise containing
substantially comparable information). 
 (c) On or before the date that is forty-five (45) days after each calendar
quarter, beginning with the first quarter of 2013, the Servicer shall provide to the Paying Agent, and the Paying Agent on behalf of the Indenture Trustee, shall forward to each Series 2013-1 Noteholder: 

(i) information with respect to the credit performance of the Series 2013-1 Notes and the Receivables, including periodic
and cumulative Receivables data, delinquency and modification data for the Receivables, substitutions and removals of the Receivables, servicer advances, if applicable, as well as losses that were allocated to the Series 2013-1 Notes, if applicable,
and the percentage of each Class of Series 2013-1 Notes in relation to the Series 2013-1 Notes as a whole; and 

(ii) a statement regarding any changes to the information that was disclosed in connection with the issuance of the Series
2013-1 Notes regarding the nature and amount of compensation paid to each Account Owner, each Note Rating Agency (if applicable), any third-party advisor and the Servicer and the amount and nature of any deferred compensation or similar
arrangements. 
 (d) At the time of delivery of any periodic distribution report and in any event at least once per calendar
quarter, while the Series 2013-1 Notes are outstanding, the Paying Agent on behalf of the Indenture Trustee, shall forward to each Series 2013-1 Noteholder copies of the Credit Risk and Performance Disclosure. 

(e) A copy of each statement or certificate provided pursuant to paragraph (a) or (b) may be obtained by any Series 2013-1
Noteholder or any Note Owner thereof by a request in writing to the Servicer. 
 (f) On or before January 31 of each
calendar year, beginning with calendar year 2014, the Paying Agent, on behalf of the Indenture Trustee, shall furnish or cause to be furnished to each Person who at any time during the preceding calendar year was a Series 2013-1 Noteholder, a
statement substantially in the form of Exhibit B-2 to this Indenture Supplement prepared by the Servicer for such calendar year or the applicable portion thereof during which such Person was a Series 2013-1 Noteholder, together with other
information as is required to be provided by an issuer of indebtedness under the Code. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Paying
Agent pursuant to any requirements of the Code as from time to time in effect. 
 [END OF ARTICLE VII] 

  
 42 

 ARTICLE VIII 
 MISCELLANEOUS PROVISIONS 
 Section 8.01 No Petition. The Indenture
Trustee, by entering into this Indenture Supplement, each Derivative Counterparty, by entering into the applicable Derivative Agreement, each Supplemental Credit Enhancement Provider or Supplemental Liquidity Provider, as applicable, by entering
into the applicable Supplemental Credit Enhancement Agreement or Supplemental Liquidity Agreement, and each Series 2013-1 Noteholder, by accepting a Series 2013-1 Note, agrees, to the fullest extent permitted by applicable law, that at no time shall
it commence, or join in commencing, a bankruptcy case or other insolvency or similar proceeding under the laws of any jurisdiction against the Transferor, the Issuer, or any Master Trust. 

Section 8.02 Actions by the Issuer. Subject to the Transfer Agreement and the Servicing Agreement, all action to be taken by
the Issuer under this Indenture Supplement shall be taken by the Administrator or the Owner Trustee on behalf of the Issuer and all notices to be given or received by the Issuer under this Indenture Supplement shall be given or received by the
Administrator or the Owner Trustee, on behalf of the Issuer. 
 Section 8.03 Limitations on Liability. 

(a) It is expressly understood and agreed by the parties hereto that (i) this Indenture Supplement is executed and delivered by the
Owner Trustee, not individually or personally but solely as Owner Trustee under the Trust Agreement, in the exercise of the powers and authority conferred and vested in it, (ii) each of the representations, undertakings and agreements herein
made on the part of the Issuer is made and intended not as a personal representation, undertaking or agreement by the Owner Trustee but is made and intended for the purpose of binding only the Issuer, (iii) nothing herein contained shall be
construed as creating any liability on the Owner Trustee, individually or personally, to perform any covenant of the Issuer either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties to the
Indenture and by any Person claiming by, through or under them and (iv) under no circumstances shall the Owner Trustee be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of
any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Indenture Supplement or any related documents. 
 (b) None of the Indenture Trustee, the Owner Trustee, the Servicer, the Administrator, the Beneficiary or any other beneficiary of the Issuer or any of their respective officers, directors, employees,
members, incorporators or agents shall have any liability with respect to this Indenture Supplement, and any recourse may be had solely to the Collateral. 
 Section 8.04 Termination of Issuer. The Issuer and the respective obligations and responsibilities of the Indenture Trustee created hereby shall terminate as provided in the Trust Agreement.

  
 43 

 Section 8.05 Acknowledgement and Acceptance of Indenture Supplement. TRS, as
Servicer and Administrator, and RFC VIII, as Transferor, by their signatures hereto, acknowledge and accept this Indenture Supplement. 
 Section 8.06 Amendments. Except as expressly set forth in Article X of the Indenture, this Indenture Supplement may not be amended, supplemented or modified. 

[END OF ARTICLE VIII] 

  
 44 

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

					
	 AMERICAN EXPRESS ISSUANCE TRUST II, as Issuer

	
	By: WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee on behalf of the Trust
		
	By:	 	/s/ Jennifer A. Luce
		 	Name:	 	Jennifer A. Luce
		 	Title:	 	Vice President
	
	 THE BANK OF NEW YORK MELLON, as Indenture Trustee and not in its individual capacity

		
	By:	 	/s/ Michael Commisso
		 	Name:	 	Michael Commisso
		 	Title:	 	Vice President
	
	 THE BANK OF NEW YORK MELLON, as Securities Intermediary and not in its individual capacity

		
	By:	 	/s/ Michael Commisso
		 	Name:	 	Michael Commisso
		 	Title:	 	Vice President

					
	Acknowledged and Accepted:
	
	AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION VIII LLC, as Transferor
		
	By:	 	/s/ Anderson Y. Lee
		 	Name:	 	Anderson Y. Lee
		 	Title:	 	Vice President and Treasurer
	
	AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC., as Servicer and Administrator
		
	By:	 	/s/ David L. Yowan
		 	Name:	 	David L. Yowan
		 	Title:	 	Treasurer

					
	STATE OF DELAWARE	  	)	  	
		  	)	  	ss:
	COUNTY OF NEW CASTLE	  	)	  	

 On March 18, 2013, before me personally came Jennifer A Luce, a Vice President of Wilmington Trust
Company, to me known to be the person described in and who executed the foregoing instrument, and duly acknowledged that [he][she] executed the same for the purposes therein contained, and acknowledged the same to be [his][her] free act and deed.

  

	
	/s/ Susanne M Gula
	Name
	
	[Seal]
	[Notarial Seal]

					
	STATE OF NEW YORK	  	)	  	
		  	)	  	ss:
	COUNTY OF NEW YORK	  	)	  	

 On March 20, 2013, before me personally came Michael Commisso, to me known, who, being by me duly
sworn, did depose and say that [he][she] resides at The Bank of New York Mellon; that [he][she] is a Vice President of The Bank of New York Mellon, one of the parties described in and which executed the above instrument; and that [he][she] signed
[his][her] name thereto by the authority of the board of directors of the corporation. 
  

	
	/s/ Tamara L. Wolbers
	Name
	
	[Seal]
	[Notarial Seal]

 EXHIBIT A-1 

FORM OF 
 CLASS A
SERIES 2013-1 FLOATING RATE ASSET BACKED NOTE 
 UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC) – ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY
PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THE HOLDER OF THIS
NOTE BY ITS ACCEPTANCE HEREOF COVENANTS AND AGREES THAT IT WILL NOT AT ANY TIME INSTITUTE AGAINST THE ISSUER, THE TRANSFEROR OR ANY MASTER TRUST, OR JOIN IN INSTITUTING AGAINST THE ISSUER, THE TRANSFEROR OR ANY MASTER TRUST, ANY BANKRUPTCY,
REORGANIZATION, ARRANGEMENT, INSOLVENCY OR LIQUIDATION PROCEEDINGS, OR OTHER PROCEEDINGS UNDER ANY UNITED STATES FEDERAL OR STATE BANKRUPTCY OR SIMILAR LAW. 
 THE HOLDER OF THIS CLASS A NOTE, BY ACCEPTANCE OF THIS NOTE, AND EACH HOLDER OF A BENEFICIAL INTEREST THEREIN, AGREE TO TREAT THE CLASS A NOTES AS INDEBTEDNESS OF THE ISSUER FOR APPLICABLE FEDERAL, STATE,
AND LOCAL INCOME AND FRANCHISE TAX LAW AND FOR PURPOSES OF ANY OTHER TAX IMPOSED ON, OR MEASURED BY, INCOME. 

  
 A-1-1

			
		  	INITIAL DOLLAR PRINCIPAL AMOUNT
	REGISTERED	  	$[            ]1/
		
	No. R-[        ]	  	CUSIP NO. 02587T AA1

 AMERICAN EXPRESS ISSUANCE TRUST II 

CLASS A SERIES 2013-1 FLOATING RATE ASSET BACKED NOTE 
 American Express Issuance Trust II (herein referred to as the “Issuer” or the “Trust”), a Delaware statutory trust governed by an Amended and Restated Trust Agreement,
dated as of October 24, 2012 for value received, hereby promises to pay to CEDE & CO., or registered assigns, subject to the following provisions, a principal sum of
[            ] payable on the March 2018 Payment Date (the “Expected Final Payment Date”) in accordance with the Indenture, except as otherwise provided below or in the
Indenture; provided, however, that the principal amount of this Note shall be due and payable on the February 2019 Payment Date (the “Legal Maturity Date”) in accordance with the Indenture. The Issuer will pay interest on the
unpaid principal amount of this Note at the Class A Note Interest Rate on each Payment Date until the principal amount of this Note is paid in full. Interest on this Note will accrue for each Payment Date from and including the most recent
Payment Date on which interest has been paid to but excluding such Payment Date or, for the initial Payment Date, from and including the Closing Date to but excluding such Payment Date. Interest will be computed on the basis of a 360-day year and
the actual number of days elapsed. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof. 
 The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. All
payments made by the Issuer with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then to the unpaid principal balance of this Note. 

Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same effect as though
fully set forth on the face of this Note. 
 Unless the certificate of authentication hereon has been executed by or on behalf
of the Indenture Trustee, by manual signature, this Note shall not be entitled to any benefit under the Indenture or the Indenture Supplement referred to on the reverse hereof, or be valid for any purpose. 

 
  

	1/	 Denominations of $100,000 and integral multiples thereof. 

  

  
 A-1-2

 IN WITNESS WHEREOF, the Issuer has caused this Class A Note to be duly executed.

  

			
	AMERICAN EXPRESS ISSUANCE TRUST II, as Issuer
		
	By:	 	WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee under the Trust Agreement
		
	By:	 	 
		 	Name:
		 	Title:

 Dated: March 21, 2013 

  
 A-1-3

 INDENTURE TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Class A Notes described in the within-mentioned Indenture. 

 

			
	THE BANK OF NEW YORK MELLON, as Indenture Trustee
		
	By:	 	 
		 	Authorized Signatory

  
 A-1-4

 AMERICAN EXPRESS ISSUANCE TRUST II 

CLASS A SERIES 2013-1 FLOATING RATE ASSET BACKED NOTE 
 Summary of Terms and Conditions 
 This Class A Note is one of a duly
authorized issue of Notes of the Issuer, designated as its American Express Issuance Trust II, Series 2013-1 (the “Series 2013-1 Notes”), issued under an Amended and Restated Indenture, dated as of March 12, 2013 (as amended
and as further amended or otherwise modified from time to time, the “Indenture”), between the Issuer and The Bank of New York Mellon, as indenture trustee (the “Indenture Trustee,” which term includes any successor
Indenture Trustee under the Indenture), as supplemented by the Indenture Supplement, dated as of March 21, 2013 (the “Indenture Supplement”), and representing the right to receive certain payments from the Issuer. The term
“Indenture,” unless the context otherwise requires, refers to the Indenture as supplemented by the Indenture Supplement. The Notes are subject to all of the terms of the Indenture. All terms used in this Note that are defined in the
Indenture, as supplemented or amended, shall have the meanings assigned to them in or pursuant to the Indenture, as so supplemented or amended. In the event of any conflict or inconsistency between the Indenture and this Note, the Indenture shall
control. 
 The Class B Notes and the Class C Notes will also be issued under the Indenture. 

The Noteholder, by its acceptance of this Note, agrees that it will look solely to the property of the Trust allocated to the payment of
this Note in accordance with the Indenture for payment hereunder and that the Indenture Trustee is not liable to the Noteholders for any amount payable under the Note or the Indenture or, except as expressly provided in the Indenture, subject to any
liability under the Indenture. 
 This Note does not purport to summarize the Indenture and reference is made to the Indenture
for the interests, rights and limitations of rights, benefits, obligations and duties evidenced thereby, and the rights, duties and immunities of the Indenture Trustee. 
 The Expected Final Payment Date is the March 2018 Payment Date, but principal with respect to the Class A Notes may be paid earlier or later under certain circumstances described in the Indenture. If
for one or more months during the Controlled Accumulation Period there are not sufficient funds to deposit into the Principal Funding Account the Controlled Deposit Amount, then to the extent that excess funds are not available on subsequent Payment
Dates with respect to the Controlled Accumulation Period to make up for such shortfalls, the final payment of principal of the Notes will occur later than the Expected Final Payment Date. Payments of principal of the Notes shall be payable in
accordance with the provisions of the Indenture. 
 Subject to the terms and conditions of the Indenture, the Transferor may,
from time to time, direct the Owner Trustee, on behalf of the Trust, to issue one or more new Series, Class or Tranche of Notes or new Notes of any Series, Class or Tranche. 

  
 A-1-5

 On each Payment Date, the Paying Agent shall distribute to each Class A Noteholder of
record on the related Record Date (except for the final distribution in respect of this Class A Note) such Class A Noteholder’s pro rata share of the amounts held by the Paying Agent that are allocated and available on such
Payment Date to pay interest and principal on the Class A Notes pursuant to the Indenture Supplement. Except as provided in the Indenture with respect to a final distribution, distributions to Series 2013-1 Noteholders shall be made by
(i) check mailed to each Series 2013-1 Noteholder (at such Noteholder’s address as it appears in the Note Register), except that with respect to any Series 2013-1 Notes registered in the name of the nominee of a clearing agency, such
distribution shall be made in immediately available funds and (ii) without presentation or surrender of any Series 2013-1 Note or the making of any notation thereon. Final payment of this Class A Note will be made only upon presentation
and surrender of this Class A Note at the office or agency specified in the notice of final distribution delivered by the Indenture Trustee to the Series 2013-1 Noteholders in accordance with the Indenture. 

On any day occurring on or after the date on which the aggregate Outstanding Dollar Principal Amount of all Outstanding Series of Notes
is reduced to less than 10% of the sum of the highest Outstanding Dollar Principal Amount of each such Series at any time, the Transferor (but only if the Transferor is the Servicer or an Affiliate of the Servicer) shall have the right, but not the
obligation to, redeem all Outstanding Series of Notes at a redemption price equal to 100% of the Outstanding Dollar Principal Amount of each such Series, plus accrued, unpaid and additional interest or principal accreted and unpaid on each such
Series to but excluding the date of redemption; provided, however, that in no event shall such optional redemption occur if 25% or more of the Initial Dollar Principal Amount of any Series of Notes is Outstanding. 

This Class A Note does not represent an obligation of, or an interest in, the Transferor, American Express Travel Related
Services Company, Inc., American Express Centurion Bank, American Express Bank, FSB, or any Affiliate of any of them and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency or instrumentality.

 Each Noteholder, by accepting a Note, hereby covenants and agrees that it will not at any time institute against the
Issuer, the Transferor or any Master Trust, or join in instituting against the Issuer, the Transferor or any Master Trust, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or other proceedings under any United
States federal or state bankruptcy or similar law. 
 Except as otherwise provided in the Indenture Supplement, the Class A
Notes are issuable only in minimum denominations of $100,000 and integral multiples thereof. The transfer of this Class A Note shall be registered in the Note Register upon surrender of this Class A Note for registration of transfer at the
office or agency of the Issuer in a Place of Payment, accompanied by a written instrument of transfer, in a form satisfactory to the Issuer and the Note Registrar, duly executed by the Class A Noteholder or such Class A Noteholder’s
attorney, and duly authorized in writing with such signature guaranteed, and thereupon one or more new Class A Notes in any authorized denominations of like aggregate Stated Principal Amount, Expected Final Payment Date and Legal Maturity Date
and of like terms will be issued to the designated transferee or transferees. 

  
 A-1-6

 As provided in the Indenture and subject to certain limitations therein set forth,
Class A Notes are exchangeable for new Class A Notes in any authorized denominations and of like aggregate Stated Principal Amount, Expected Final Payment Date and Legal Maturity Date and of like terms upon surrender of such Notes to be
exchanged at the office or agency of the Issuer in a Place of Payment. No service charge may be imposed for any such exchange but the Issuer may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in
connection therewith. 
 The Issuer, the Transferor, the Indenture Trustee and any agent of the Issuer, the Transferor or the
Indenture Trustee shall treat the person in whose name this Class A Note is registered as the owner hereof for all purposes, and neither the Issuer, the Transferor, the Indenture Trustee nor any agent of the Issuer, the Transferor or the
Indenture Trustee shall be affected by notice to the contrary. 
 THIS CLASS A NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH AND
GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, INCLUDING SECTION 5-1401 OF THE GENERAL OBLIGATION LAW, 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. 

  
 A-1-7

 ASSIGNMENT 
 Social Security or other identifying number of assignee
                                         
                
  

					
	 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto

	 	 		  	
	(name and address of assignee)	 		  	

 the within certificate and all rights thereunder, and hereby irrevocably constitutes and appoints
            , attorney, to transfer said certificate on the books kept for registration thereof, with full power of substitution in the premises. 

 

									
	Dated:
                            	 		 		 	 	 	2/
					
		 		 		 	Signature Guaranteed:	 	
					
		 		 		 	 	 	

  
  

	2/ 	 NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every
particular, without alteration, enlargement or any change whatsoever. 

  
 A-1-8

 EXHIBIT A-2 

FORM OF 
 CLASS B
FLOATING RATE ASSET BACKED NOTE 
 UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC) – ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY
PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THE HOLDER OF THIS
NOTE BY ITS ACCEPTANCE HEREOF COVENANTS AND AGREES THAT IT WILL NOT AT ANY TIME INSTITUTE AGAINST THE ISSUER, THE TRANSFEROR OR ANY MASTER TRUST, OR JOIN IN INSTITUTING AGAINST THE ISSUER, THE TRANSFEROR OR ANY MASTER TRUST, ANY BANKRUPTCY,
REORGANIZATION, ARRANGEMENT, INSOLVENCY OR LIQUIDATION PROCEEDINGS, OR OTHER PROCEEDINGS UNDER ANY UNITED STATES FEDERAL OR STATE BANKRUPTCY OR SIMILAR LAW. 
 THE HOLDER OF THIS CLASS B NOTE, BY ACCEPTANCE OF THIS NOTE, AND EACH HOLDER OF A BENEFICIAL INTEREST THEREIN, AGREE TO TREAT THE CLASS B NOTES AS INDEBTEDNESS OF THE ISSUER FOR APPLICABLE FEDERAL, STATE,
AND LOCAL INCOME AND FRANCHISE TAX LAW AND FOR PURPOSES OF ANY OTHER TAX IMPOSED ON, OR MEASURED BY, INCOME. 

  
 A-2-1

			
		  	INITIAL DOLLAR PRINCIPAL AMOUNT
	REGISTERED	  	$[            ]3/
		
	No. R-        	  	CUSIP NO. 02587T AB9

 AMERICAN EXPRESS ISSUANCE TRUST II 

CLASS B SERIES 2013-1 FLOATING RATE ASSET BACKED NOTE 
 American Express Issuance Trust II (herein referred to as the “Issuer” or the “Trust”), a Delaware statutory trust governed by an Amended and Restated Trust Agreement,
dated as of October 24, 2012, for value received, hereby promises to pay to CEDE & CO., or registered assigns, subject to the following provisions, the principal sum of
[            ] payable on the March 2018 Payment Date (the “Expected Final Payment Date”) in accordance with the Indenture, except as otherwise provided below or in the
Indenture; provided, however, that the principal amount of this Note shall be due and payable on the February 2019 Payment Date (the “Legal Maturity Date”) in accordance with the Indenture. The Issuer will pay interest on the
unpaid principal amount of this Note at the Class B Note Interest Rate on each Payment Date until the principal amount of this Note is paid in full. Interest on this Note will accrue for each Payment Date from and including the most recent Payment
Date on which interest has been paid to but excluding such Payment Date or, for the initial Payment Date, from and including the Closing Date to but excluding such Payment Date. Interest will be computed on the basis of a 360-day year and the actual
number of days elapsed. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof. 
 The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. All
payments made by the Issuer with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then to the unpaid principal balance of this Note. 

Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same effect as though
fully set forth on the face of this Note. 
 Unless the certificate of authentication hereon has been executed by or on behalf
of the Indenture Trustee, by manual signature, this Note shall not be entitled to any benefit under the Indenture or the Indenture Supplement referred to on the reverse hereof, or be valid for any purpose. 

THIS CLASS B NOTE IS SUBORDINATED TO THE EXTENT NECESSARY TO FUND PAYMENTS ON THE CLASS A NOTES TO THE EXTENT SPECIFIED IN THE
INDENTURE SUPPLEMENT. 
  
  

	3/ 	 Denominations of $100,000 and integral multiples of $1,000 in excess thereof. 

  
 A-2-2

 IN WITNESS WHEREOF, the Issuer has caused this Class B Note to be duly executed. 

 

			
	AMERICAN EXPRESS ISSUANCE TRUST II, as Issuer
		
	By:	 	WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee under the Trust Agreement
		
	By:	 	 
		 	Name:
		 	Title:

 Dated: March 21, 2013 

  
 A-2-3

 INDENTURE TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Class B Notes described in the within-mentioned Indenture. 

 

			
	THE BANK OF NEW YORK MELLON, as Indenture Trustee
		
	By:	 	 
		 	Authorized Signatory

  
 A-2-4

 AMERICAN EXPRESS ISSUANCE TRUST II 

CLASS B SERIES 2013-1 FLOATING RATE ASSET BACKED NOTE 
 Summary of Terms and Conditions 
 This Class B Note is one of a duly authorized
issue of Notes of the Issuer, designated as its American Express Issuance Trust II, Series 2013-1 (the “Series 2013-1 Notes”), issued under an Amended and Restated Indenture, dated as of March 12, 2013 (as amended and as
further amended or otherwise modified from time to time, “Indenture”), between the Issuer and The Bank of New York Mellon, as indenture trustee (the “Indenture Trustee,” which term includes any successor Indenture
Trustee under the Indenture), as supplemented by the Indenture Supplement dated as of March 21, 2013 (the “Indenture Supplement”), and representing the right to receive certain payments from the Issuer. The term
“Indenture,” unless the context otherwise requires, refers to the Indenture as supplemented by the Indenture Supplement. The Notes are subject to all of the terms of the Indenture. All terms used in this Note that are defined in the
Indenture, as supplemented or amended, shall have the meanings assigned to them in or pursuant to the Indenture, as so supplemented or amended. In the event of any conflict or inconsistency between the Indenture and this Note, the Indenture shall
control. 
 The Class A Notes and the Class C Notes will also be issued under the Indenture. 

The Noteholder, by its acceptance of this Note, agrees that it will look solely to the property of the Trust allocated to the payment of
this Note in accordance with the Indenture for payment hereunder and that the Indenture Trustee is not liable to the Noteholders for any amount payable under the Note or the Indenture or, except as expressly provided in the Indenture, subject to any
liability under the Indenture. 
 This Note does not purport to summarize the Indenture and reference is made to the Indenture
for the interests, rights and limitations of rights, benefits, obligations and duties evidenced thereby, and the rights, duties and immunities of the Indenture Trustee. 
 The Expected Final Payment Date is the March 2018 Payment Date, but principal with respect to the Class B Notes may be paid earlier or later under certain circumstances described in the Indenture. If for
one or more months during the Controlled Accumulation Period there are not sufficient funds to deposit into the Principal Funding Account the Controlled Deposit Amount, then to the extent that excess funds are not available on subsequent Payment
Dates with respect to the Controlled Accumulation Period to make up for such shortfalls, the final payment of principal of the Notes will occur later than the Expected Final Payment Date. Payments of principal of the Notes shall be payable in
accordance with the provisions of the Indenture. 
 Subject to the terms and conditions of the Indenture, the Transferor may,
from time to time, direct the Owner Trustee, on behalf of the Trust, to issue one or more new Series, Class or Tranche of Notes or new Notes of any Series, Class or Tranche. 

  
 A-2-5

 On each Payment Date, the Paying Agent shall distribute to each Class B Noteholder of record
on the related Record Date (except for the final distribution in respect of this Class B Note) such Class B Noteholder’s pro rata share of the amounts held by the Paying Agent that are allocated and available on such Payment Date to pay
interest and principal on the Class B Notes pursuant to the Indenture Supplement. Except as provided in the Indenture with respect to a final distribution, distributions to Series 2013-1 Noteholders shall be made by (i) check mailed to each
Series 2013-1 Noteholder (at such Noteholder’s address as it appears in the Note Register), except that with respect to any Series 2013-1 Notes registered in the name of the nominee of a clearing agency, such distribution shall be made in
immediately available funds and (ii) without presentation or surrender of any Series 2013-1 Note or the making of any notation thereon. Final payment of this Class B Note will be made only upon presentation and surrender of this Class B Note at
the office or agency specified in the notice of final distribution delivered by the Indenture Trustee to the Series 2013-1 Noteholders in accordance with the Indenture. 
 On any day occurring on or after the date on which the aggregate Outstanding Dollar Principal Amount of all Outstanding Series of Notes is reduced to less than 10% of the sum of the highest Outstanding
Dollar Principal Amount of each such Series at any time, the Transferor (but only if the Transferor is the Servicer or an Affiliate of the Servicer) shall have the right, but not the obligation to, redeem all Outstanding Series of Notes at a
redemption price equal to 100% of the Outstanding Dollar Principal Amount of each such Series, plus accrued, unpaid and additional interest or principal accreted and unpaid on each such Series to but excluding the date of redemption; provided,
however, that in no event shall such optional redemption occur if 25% or more of the Initial Dollar Principal Amount of any Series of Notes is Outstanding. 
 This Class B Note does not represent an obligation of, or an interest in, the Transferor, American Express Travel Related Services Company, Inc., American Express Centurion Bank, American Express Bank,
FSB, or any Affiliate of any of them and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency or instrumentality. 
 Each Noteholder, by accepting a Note, hereby covenants and agrees that it will not at any time institute against the Issuer, the Transferor or any Master Trust, or join in instituting against the Issuer,
the Transferor or any Master Trust, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or other proceedings under any United States federal or state bankruptcy or similar law. 

Except as otherwise provided in the Indenture Supplement, the Class B Notes are issuable only in minimum denominations of $100,000 and
integral multiples thereof. The transfer of this Class B Note shall be registered in the Note Register upon surrender of this Class B Note for registration of transfer at the office or agency of the Issuer in a Place of Payment, accompanied by a
written instrument of transfer, in a form satisfactory to the Issuer and the Note Registrar, duly executed by the Class B Noteholder or such Class B Noteholder’s attorney, and duly authorized in writing with such signature guaranteed, and
thereupon one or more new Class B Notes in any authorized denominations of like aggregate Stated Principal Amount, Expected Final Payment Date and Legal Maturity Date and of like terms will be issued to the designated transferee or transferees.

  
 A-2-6

 As provided in the Indenture and subject to certain limitations therein set forth, Class B
Notes are exchangeable for new Class B Notes in any authorized denominations and of like aggregate Stated Principal Amount, Expected Final Payment Date and Legal Maturity Date and of like terms upon surrender of such Notes to be exchanged at the
office or agency of the Issuer in a Place of Payment. No service charge may be imposed for any such exchange but the Issuer may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection
therewith. 
 The Issuer, the Transferor, the Indenture Trustee and any agent of the Issuer, the Transferor or the Indenture
Trustee shall treat the person in whose name this Class B Note is registered as the owner hereof for all purposes, and neither the Issuer, the Transferor, the Indenture Trustee nor any agent of the Issuer, the Transferor or the Indenture Trustee
shall be affected by notice to the contrary. 
 THIS CLASS B NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE
LAWS OF THE STATE OF NEW YORK, INCLUDING SECTION 5-1401 OF THE GENERAL OBLIGATION LAW, 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. 

  
 A-2-7

 ASSIGNMENT 
 Social Security or other identifying number of assignee
                                         
                    
  

					
	 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto

	 	 		  	
	(name and address of assignee)	 		  	

 the within certificate and all rights thereunder, and hereby irrevocably constitutes and appoints
            , attorney, to transfer said certificate on the books kept for registration thereof, with full power of substitution in the premises. 

 

									
	Dated:
                            	 		 		 	 	 	4/
					
		 		 		 	Signature Guaranteed:	 	
					
		 		 		 	 	 	

  
  

	4/ 	 NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every
particular, without alteration, enlargement or any change whatsoever. 

  
 A-2-8

 EXHIBIT A-3 

FORM OF 
 CLASS C
FLOATING RATE ASSET BACKED NOTE 
 UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC) – ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY
PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THE HOLDER OF THIS
NOTE BY ITS ACCEPTANCE HEREOF COVENANTS AND AGREES THAT IT WILL NOT AT ANY TIME INSTITUTE AGAINST THE ISSUER, THE TRANSFEROR OR ANY MASTER TRUST, OR JOIN IN INSTITUTING AGAINST THE ISSUER, THE TRANSFEROR OR ANY MASTER TRUST, ANY BANKRUPTCY,
REORGANIZATION, ARRANGEMENT, INSOLVENCY OR LIQUIDATION PROCEEDINGS, OR OTHER PROCEEDINGS UNDER ANY UNITED STATES FEDERAL OR STATE BANKRUPTCY OR SIMILAR LAW. 
 THE HOLDER OF THIS CLASS C NOTE, BY ACCEPTANCE OF THIS NOTE, AND EACH HOLDER OF A BENEFICIAL INTEREST THEREIN, AGREE TO TREAT THE CLASS C NOTES AS INDEBTEDNESS OF THE ISSUER FOR APPLICABLE FEDERAL, STATE,
AND LOCAL INCOME AND FRANCHISE TAX LAW AND FOR PURPOSES OF ANY OTHER TAX IMPOSED ON, OR MEASURED BY, INCOME. 

  
 A-3-1

			
		  	INITIAL DOLLAR PRINCIPAL AMOUNT
	REGISTERED	  	$[            ]5/
		
	No. R-        	  	CUSIP NO. 02587T AC7

 AMERICAN EXPRESS ISSUANCE TRUST II 

CLASS C SERIES 2013-1 FLOATING RATE ASSET BACKED NOTE 
 American Express Issuance Trust II (herein referred to as the “Issuer” or the “Trust”), a Delaware statutory trust governed by an Amended and Restated Trust Agreement,
dated as of October 24, 2012, for value received, hereby promises to pay to CEDE & CO., or registered assigns, subject to the following provisions, the principal sum of
[            ] payable on the March 2018 Payment Date (the “Expected Final Payment Date”) in accordance with the Indenture, except as otherwise provided below or in the
Indenture; provided, however, that the principal amount of this Note shall be due and payable on the February 2019 Payment Date (the “Legal Maturity Date”) in accordance with the Indenture. The Issuer will pay interest on the
unpaid principal amount of this Note at the Class C Note Interest Rate on each Payment Date until the principal amount of this Note is paid in full. Interest on this Note will accrue for each Payment Date from and including the most recent Payment
Date on which interest has been paid to but excluding such Payment Date or, for the initial Payment Date, from and including the Closing Date to but excluding such Payment Date. Interest will be computed on the basis of a 360-day year and the actual
number of days elapsed. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof. 
 The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. All
payments made by the Issuer with respect to this Note shall be applied first to interest due and payable on this Note and then to the unpaid principal balance of this Note. 
 Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same effect as though fully set forth on the face of this Note. 

Unless the certificate of authentication hereon has been executed by or on behalf of the Indenture Trustee, by manual signature, this
Note shall not be entitled to any benefit under the Indenture or the Indenture Supplement referred to on the reverse hereof, or be valid for any purpose. 
 THIS CLASS C NOTE IS SUBORDINATED TO THE EXTENT NECESSARY TO FUND PAYMENTS ON THE CLASS A NOTES AND CLASS B NOTES TO THE EXTENT SPECIFIED IN THE INDENTURE SUPPLEMENT. 

 
  

	5/ 	 Denominations of $100,000 and integral multiples thereof. 

  
 A-3-2

 IN WITNESS WHEREOF, the Issuer has caused this Class C Note to be duly executed. 

 

			
	AMERICAN EXPRESS ISSUANCE TRUST II, as Issuer
		
	By:	 	WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee under the Trust Agreement
		
	By:	 	 
		 	Name:
		 	Title:

 Dated: March 21, 2013 

  
 A-3-3

 INDENTURE TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Class C Notes described in the within-mentioned Indenture. 

 

			
	THE BANK OF NEW YORK MELLON, as Indenture Trustee
		
	By:	 	 
		 	Authorized Signatory

  
 A-3-4

 AMERICAN EXPRESS ISSUANCE TRUST II 

CLASS C SERIES 2013-1 FLOATING RATE ASSET BACKED NOTE 
 Summary of Terms and Conditions 
 This Class C Note is one of a duly authorized
issue of Notes of the Issuer, designated as its American Express Issuance Trust II, Series 2013-1 (the “Series 2013-1 Notes”), issued under an Amended and Restated Indenture, dated as of March 12, 2013 (as amended and as
further amended or otherwise modified from time to time, the “Indenture”), between the Issuer and The Bank of New York Mellon, as indenture trustee (the “Indenture Trustee,” which term includes any successor
Indenture Trustee under the Indenture), as supplemented by the Indenture Supplement dated as of March 21, 2013 (the “Indenture Supplement”), and representing the right to receive certain payments from the Issuer. The term
“Indenture,” unless the context otherwise requires, refers to the Indenture as supplemented by the Indenture Supplement. The Notes are subject to all of the terms of the Indenture. All terms used in this Note that are defined in the
Indenture, as supplemented or amended, shall have the meanings assigned to them in or pursuant to the Indenture, as so supplemented or amended. In the event of any conflict or inconsistency between the Indenture and this Note, the Indenture shall
control. 
 The Class A Notes and the Class B Notes will also be issued under the Indenture. 

The Noteholder, by its acceptance of this Note, agrees that it will look solely to the property of the Trust allocated to the payment of
this Note in accordance with the Indenture for payment hereunder and that the Indenture Trustee is not liable to the Noteholders for any amount payable under the Note or the Indenture or, except as expressly provided in the Indenture, subject to any
liability under the Indenture. 
 This Note does not purport to summarize the Indenture and reference is made to the Indenture
for the interests, rights and limitations of rights, benefits, obligations and duties evidenced thereby, and the rights, duties and immunities of the Indenture Trustee. 
 The Expected Final Payment Date is the March 2018 Payment Date, but principal with respect to the Class C Notes may be paid earlier or later under certain circumstances described in the Indenture. If for
one or more months during the Controlled Accumulation Period there are not sufficient funds to deposit into the Principal Funding Account the Controlled Deposit Amount, then to the extent that excess funds are not available on subsequent Payment
Dates with respect to the Controlled Accumulation Period to make up for such shortfalls, the final payment of principal of the Notes will occur later than the Expected Final Payment Date. Payments of principal of the Notes shall be payable in
accordance with the provisions of the Indenture. 

  
 A-3-5

 Subject to the terms and conditions of the Indenture, the Transferor may, from time to time,
direct the Owner Trustee, on behalf of the Trust, to issue one or more new Series, Class or Tranche of Notes or new Notes of any Series, Class or Tranche. 
 On each Payment Date, the Paying Agent shall distribute to each Class C Noteholder of record on the related Record Date (except for the final distribution in respect of this Class C Note) such Class C
Noteholder’s pro rata share of the amounts held by the Paying Agent that are allocated and available on such Payment Date to pay interest and principal on the Class C Notes pursuant to the Indenture Supplement. Except as provided in the
Indenture with respect to a final distribution, distributions to Series 2013-1 Noteholders shall be made by (i) check mailed to each Series 2013-1 Noteholder (at such Noteholder’s address as it appears in the Note Register), except that
with respect to any Series 2013-1 Notes registered in the name of the nominee of a clearing agency, such distribution shall be made in immediately available funds and (ii) without presentation or surrender of any Series 2013-1 Note or the
making of any notation thereon. Final payment of this Class C Note will be made only upon presentation and surrender of this Class C Note at the office or agency specified in the notice of final distribution delivered by the Indenture Trustee to the
Series 2013-1 Noteholders in accordance with the Indenture. 
 On any day occurring on or after the date on which the aggregate
Outstanding Dollar Principal Amount of all Outstanding Series of Notes is reduced to less than 10% of the sum of the highest Outstanding Dollar Principal Amount of each such Series at any time, the Transferor (but only if the Transferor is the
Servicer or an Affiliate of the Servicer) shall have the right, but not the obligation to, redeem all Outstanding Series of Notes at a redemption price equal to 100% of the Outstanding Dollar Principal Amount of each such Series, plus accrued,
unpaid and additional interest or principal accreted and unpaid on each such Series to but excluding the date of redemption; provided, however, that in no event shall such optional redemption occur if 25% or more of the Initial Dollar
Principal Amount of any Series of Notes is Outstanding. 
 This Class C Note does not represent an obligation of, or an
interest in, the Transferor, American Express Travel Related Services Company, Inc., American Express Centurion Bank, American Express Bank, FSB, or any Affiliate of any of them and is not insured or guaranteed by the Federal Deposit Insurance
Corporation or any other governmental agency or instrumentality. 
 Each Noteholder, by accepting a Note, hereby covenants
and agrees that it will not at any time institute against the Issuer, the Transferor or any Master Trust, or join in instituting against the Issuer, the Transferor or any Master Trust, any bankruptcy, reorganization, arrangement, insolvency or
liquidation proceedings, or other proceedings under any United States federal or state bankruptcy or similar law. 
 Except as
otherwise provided in the Indenture Supplement, the Class C Notes are issuable only in minimum denominations of $100,000 and integral multiples thereof. The transfer of this Class C Note shall be registered in the Note Register upon surrender of
this Class C Note for registration of transfer at the office or agency of the Issuer in a Place of Payment, accompanied by 

  
 A-3-6

 
a written instrument of transfer, in a form satisfactory to the Issuer and the Note Registrar, duly executed by the Class C Noteholder or such Class C Noteholder’s attorney, and duly
authorized in writing with such signature guaranteed, and thereupon one or more new Class C Notes in any authorized denominations of like aggregate Stated Principal Amount, Expected Final Payment Date and Legal Maturity Date and of like terms will
be issued to the designated transferee or transferees. 
 As provided in the Indenture and subject to certain limitations
therein set forth, Class C Notes are exchangeable for new Class C Notes in any authorized denominations and of like aggregate Stated Principal Amount, Expected Final Payment Date and Legal Maturity Date and of like terms upon surrender of such Notes
to be exchanged at the office or agency of the Issuer in a Place of Payment. No service charge may be imposed for any such exchange but the Issuer may require payment of a sum sufficient to cover any tax or other governmental charge that may be
imposed in connection therewith. 
 The Issuer, the Transferor, the Indenture Trustee and any agent of the Issuer, the
Transferor or the Indenture Trustee shall treat the person in whose name this Class C Note is registered as the owner hereof for all purposes, and neither the Issuer, the Transferor, the Indenture Trustee nor any agent of the Issuer, the Transferor
or the Indenture Trustee shall be affected by notice to the contrary. 
 THIS CLASS C NOTE SHALL BE CONSTRUED IN ACCORDANCE
WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, INCLUDING SECTION 5-1401 OF THE GENERAL OBLIGATION LAW, 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. 

  
 A-3-7

 ASSIGNMENT 
 Social Security or other identifying number of assignee
                                         
                
  

					
	 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto 

	 	 		  	
	(name and address of assignee)	 		  	

 the within certificate and all rights thereunder, and hereby irrevocably constitutes and appoints
            , attorney, to transfer said certificate on the books kept for registration thereof, with full power of substitution in the premises. 

 

									
	Dated:
                            	 		 		 	 	 	6/
					
		 		 		 	Signature Guaranteed:	 	
					
		 		 		 	 	 	

  
  

	6/	 NOTE: The signature to this assignment must correspond with the name of the registered owner as it
appears on the face of the within Note in every particular, without alteration, enlargement or any change whatsoever. 

  
 A-3-8

 EXHIBIT B-1 

FORM OF MONTHLY NOTEHOLDERS’ STATEMENT 
 AMERICAN EXPRESS ISSUANCE TRUST II 
 SERIES 2013-1 

Pursuant to (i) the Amended and Restated Indenture, dated as of March 12, 2013 (hereinafter as such agreement may be from time
to time, amended or otherwise modified, the “Indenture”), between American Express Issuance Trust II (the “Issuer” or the “Trust”), and The Bank of New York Mellon, as indenture trustee (the
“Indenture Trustee”), as supplemented by the Indenture Supplement, dated as of March 21, 2013 (the “Indenture Supplement”), between the Issuer and the Indenture Trustee and (ii) the Amended and Restated
Servicing Agreement, dated as of March 12, 2013 (hereinafter as such agreement may be from time to time, amended or otherwise modified, the “Servicing Agreement”), among American Express Receivables Financing Corporation VIII
LLC, as transferor, American Express Travel Related Services Company, Inc., as servicer and administrator (“TRS” or the “Servicer”), the Issuer and the Indenture Trustee, TRS as Servicer is required to prepare
certain information each month regarding current payments to the Series 2013-1 Noteholders and the performance of the Trust during the previous monthly period. The information which is required to be prepared with respect to the Payment Date of
[            ], and with respect to the performance of the Trust is set forth below. Certain of the information is presented on the basis of an Outstanding Dollar Principal Amount of
$1,000 per Series 2013-1 Note (a “Note”). Certain other information is presented based on the aggregate amounts for the Trust as a whole. Capitalized terms used in this Monthly Statement have their respective meanings set forth in
the Indenture, the Indenture Supplement and the Servicing Agreement. 
  

					
	 A)    Information regarding payments in respect of the Class A Notes per $1,000 Outstanding Dollar Principal
Amount
	  			
		
	 (1)    The total amount of the payment in respect of the Class A Notes
	  	$	                	  
		
	 (2)    The amount of the payment set forth in paragraph (1) above in respect of Class A Monthly
Interest
	  	$	                	  
		
	 (3)    The amount of the payment set forth in paragraph (1) above in respect of Class A Monthly Interest
previously due but not distributed on a prior Payment Date
	  	$	                	  
		
	 (4)    The amount of the payment set forth in paragraph (1) above in respect of Class A Additional
Interest
	  	$	                	  
		
	 (5)    The amount of the payment set forth in paragraph (1) above in respect of Class A
	  			

  
 B-1-1

					
	 Additional Interest previously due but not distributed on a prior Payment Date
	  	$	                	  
		
	 (6)    The amount of the payment set forth in paragraph (1) above in respect of principal of the Class A
Notes
	  	$	                	  
		
	 B)     Information regarding payments in respect of the Class B Notes, per $1,000 Outstanding Dollar
Principal Amount
	  			
		
	 (1)    The total amount of the payment in respect of the Class B Notes
	  	$	                	  
		
	 (2)    The amount of the payment set forth in paragraph (1) above in respect of Class B Monthly
Interest
	  	$	                	  
		
	 (3)    The amount of the payment set forth in paragraph (1) above in respect of Class B Monthly Interest
previously due but not distributed on a prior Payment Date
	  	$	                	  
		
	 (4)    The amount of the payment set forth in paragraph (1) above in respect of Class B Additional
Interest
	  	$	                	  
		
	 (5)    The amount of the payment set forth in paragraph (1) above in respect of Class B Additional Interest
previously due but not distributed on a prior Payment Date
	  	$	                	  
		
	 (6)    The amount of the payment set forth in paragraph (1) above in respect of principal of the Class B
Notes
	  	$	                	  
		
	 C)     Information regarding payments in respect of the Class C Notes, per $1,000 Outstanding Dollar
Principal Amount
	  			
		
	 (1)    The total amount of the payment in respect of Class C Notes
	  	$	                	  
		
	 (2)    The amount of the payment set forth in paragraph (1) above in respect of Class C Monthly
Interest
	  	$	                	  
		
	 (3)    The amount of the payment set forth in paragraph (1) above in respect of Class C
	  			

  
 B-1-2

					
	 Monthly Interest previously due but not distributed on a prior Payment Date
	  	$	                	  
		
	 (4)    The amount of the payment set forth in paragraph (1) above in respect of Class C Additional
Interest
	  	$	                	  
		
	 (5)    The amount of the payment set forth in paragraph (1) above in respect of Class C Additional Interest
previously due but not distributed on a prior Payment Date
	  	$	                	  
		
	 (6)    The amount of the payment set forth in paragraph (1) above in respect of principal of the Class C
Notes
	  	$	                	  

  

			
	AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC., as Servicer
		
	By:	 	 
		 	Name:
		 	Title:

  
 B-1-3

 FORM OF MONTHLY SERVICER STATEMENT 

AMERICAN EXPRESS ISSUANCE TRUST II 
  

					
	 Monthly Period:
	  	 	[    ]/[    ]/[    ] to [    ]/[    ]/[  
  ]	  
	 Record Date:
	  	 	[    ]/[    ]/[    ]	  
	 Payment Date:
	  	 	[    ]/[    ]/[    ]	  

  

					
	 TRUST ACTIVITY
	  	TRUST
TOTALS	 
	 1. Number of days in Monthly Period
	  	 	[    	] 
	 2. Beginning of Monthly Period Number of Accounts
	  	 	[    	] 
	 3. Beginning Principal Receivables, including any additions or removals during the Monthly Period
	  	$	[    	] 
	 3a. Addition of Principal Receivables
	  	$	[    	] 
	 3b. Removal of Principal Receivables
	  	$	[    	] 
	 4. Beginning Invested Amount of Collateral Certificates
	  	$	[    	] 
	 5. Beginning Excess Funding Account Amount
	  	$	[    	] 
	 6a. Beginning Required Pool Balance
	  	$	[    	] 
	 6b. Beginning Pool Balance
	  	$	[    	] 
	 7. New Principal Receivables
	  	$	[    	] 
	 8. Principal Collections
	  	$	[    	] 
	 9. Gross Default Amount
	  	$	[    	] 
	 10. Ending Principal Receivables
	  	$	[    	] 
	 11. Ending Invested Amount of Collateral Certificates
	  	$	[    	] 
	 12. Ending Excess Funding Account Amount
	  	$	[    	] 
	 13. Ending Pool Balance
	  	$	[    	] 
	 14. Ending Required Pool Balance
	  	$	[    	] 
	 15. End of Monthly Period Number of Accounts
	  	 	[    	] 
	
	 TRUST PERFORMANCE
	 
	 1. Principal Collections
	  	$	[    	] 
	 2. Principal Payment Rate
	  	 	[    	]% 

  
 B-1-4

					
	 3. Net Default Amount
	  	$	[    	] 
	 4. Annualized Net Default Rate
	  	 	[    	]% 
	 5. Gross Default Amount
	  	$	[    	] 
	 6. Annualized Gross Default Rate
	  	 	[    	]% 
	 7. Finance Charge Collections
	  	$	[    	] 
	 8. Trust Portfolio Yield (Net of Defaults)
	  	 	[    	]% 
	 9. Delinquencies
	  			
	 31-60 Days Delinquent
	  	$	[    	] 
	 61-90 Days Delinquent
	  	$	[    	] 
	 90+ Days Delinquent
	  	$	[    	] 
	 Total 30+ Days Delinquent
	  	$	[    	] 
		
	 REPURCHASES AND REPLACEMENTS
	  	 	 
	 1. Information required by Rule 15Ga-1(a) concerning the Trust:
	  			
	 [No activity to report for reporting period.]
	  			
	 2. Most recent Form ABS-15G:
	  			
	 Form ABS-15G filed on [            ] under CIK number
[            ]
	  			
		
	 TRANSFEROR AMOUNT
	  	 	 
	 1. Applicable Required Transferor Amount Percentage
	  	 	[    	]% 
	 2. Beginning Pool Balance
	  	$	[    	] 
	 3. Beginning Nominal Liquidation Amount
	  	$	[    	] 
	 4. Beginning Transferor Amount
	  	$	[    	] 
	 5. Ending Pool Balance
	  	$	[    	] 
	 6. Ending Nominal Liquidation Amount (after giving effect to any principal payments on the related Payment Date)
	  	$	[    	] 
	 7. Ending Transferor Amount (after giving effect to any principal payments on the related Payment Date)
	  	$	[    	] 
	 8. Ending Required Transferor Amount
	  	$	[    	] 

  
 B-1-5

 AMERICAN EXPRESS ISSUANCE TRUST II 

SERIES 2013-1 
  

					
	 SERIES 2013-1 NOMINAL LIQUIDATION AMOUNT AS OF THE RELATED PAYMENT DATE
	 
	 1. Beginning Series 2013-1 Nominal Liquidation Amount
	  	$	[    	] 
	 2. Reimbursement of previous reductions in the Series 2013-1 Nominal Liquidation Amount
	  	$	[    	] 
	 3. Investor Charge-Offs
	  	$	[    	] 
	 4. Reallocated Principal Collections
	  	$	[    	] 
	 5. Principal Funding Account Deposit/(Withdrawal)
	  	$	[    	] 
	 6. Payments of principal of the Series 2013-1 Notes
	  	$	[    	] 
	 7. Ending Series 2013-1 Nominal Liquidation Amount
	  	$	[    	] 

  

									
	 REALLOCATION GROUP A ALLOCATIONS
	  	Trust
Totals	 	 	Group
Totals	 
	 1. Nominal Liquidation Amount
	  				 	$	[    	] 
	 2. Finance Charge Collections
	  	$	[    	] 	 	$	[    	] 
	 3. Interest
	  				 	$	[    	] 
	 4. Net Default Amount
	  				 	$	[    	] 
	 5. Servicing Fee paid to the servicer
	  				 	$	[    	] 
	 6. Additional Amounts
	  				 	$	[    	] 

  

					
	 SERIES 2013-1 ALLOCATIONS
	 
	 1. Reallocation Group
	  	 	[A	] 
	 2. Shared Excess Available Finance Charge Collections Group
	  	 	[A	] 
	 3. Shared Excess Available Principal Collections Group
	  	 	[A	] 
	 4. Opening Principal Funding Account Balance
	  	$	[    	] 
	 5. Series 2013-1 Floating Allocation Percentage
	  	 	[    	]% 
	 6. Series 2013-1 Finance Charge Collections
	  	$	[    	] 
	 7. Series 2013-1 Reallocation Group A Finance Charge Collections
	  	$	[    	] 
	 8. Net Investment Proceeds from Principal Funding Account
	  	$	[    	] 
	 9. Amounts withdrawn from the Accumulation Reserve Account
	  	$	[    	] 
	 10. Series 2013-1 Available Excess Recoveries
	  	$	[    	] 

  
 B-1-6

					
	 11. Series 2013-1 Available Finance Charge Collections
	  	$	[    	] 
	 12. Series 2013-1 Allocation of Shared Excess Available Finance Charge Collections
	  	$	[    	] 
	 13. Series 2013-1 LIBOR Determination Date
	  	 	[    	] 
	 14. Series 2013-1 Monthly Interest ([Date] to [Date])
	  	$	[    	] 
	 15. Series 2013-1 Servicing Fee paid to the servicer
	  	$	[    	] 
	 16. Series 2013-1 Default Amount
	  	$	[    	] 
	 17. Series 2013-1 Principal Allocation Percentage
	  	 	[    	]% 
	 18. Series 2013-1 Allocation of Principal Collections
	  	$	[    	] 
	 19. Series 2013-1 Allocation of Shared Excess Available Principal Charge Collections
	  	$	[    	] 
	
	 APPLICATION OF SERIES 2013-1 AVAILABLE FINANCE CHARGE COLLECTIONS
	 
	 1. Series 2013-1 Available Finance Charge Collections
	  	$	[    	] 
	 2. Class A Notes ($[    ])
	  			
	 a. Class A Monthly Interest (Note Interest Rate: [    ]%)
	  	$	[    	] 
	 b. Class A Outstanding Monthly Interest
	  	$	[    	] 
	 c. Class A Additional Interest
	  	$	[    	] 
	 d. Class A Outstanding Additional Interest
	  	$	[    	] 
	 3. Class B Notes ($[    ])
	  			
	 a. Class B Monthly Interest (Note Interest Rate: [    ]%)
	  	$	[    	] 
	 b. Class B Outstanding Monthly Interest
	  	$	[    	] 
	 c. Class B Additional Interest
	  	$	[    	] 
	 d. Class B Outstanding Additional Interest
	  	$	[    	] 
	 4. Class C Notes ($[    ])
	  			
	 a. Class C Monthly Interest (Note Interest Rate: [    ]%)
	  	$	[    	] 
	 b. Class C Outstanding Monthly Interest
	  	$	[    	] 
	 c. Class C Additional Interest
	  	$	[    	] 
	 d. Class C Outstanding Additional Interest
	  	$	[    	] 
	 5. Series 2013-1 Servicing Fee paid to servicer
	  	$	[    	] 
	 6. Amount equal to Series 2013-1 Default Amount treated as Series 2013-1 Available Principal Collections
	  	$	[    	] 

  
 B-1-7

					
	 7. Amount equal to unreimbursed reductions in the Series 2013-1 Nominal Liquidation Amount treated as Series 2013-1 Available
Principal Collections
	  	$	[    	] 
	 8. Deposited to the Accumulation Reserve Account
	  	$	[    	] 
	 9. Deposited to the Class C Reserve Account
	  	$	[    	] 
	 10. In the event of default and acceleration, amount up to the outstanding dollar principal amount of the Series 2013-1 notes
treated as Series 2013-1 Available Principal Collections
	  	$	[    	] 
	 11. Remaining amount treated as Shared Excess Available Finance Charge Collections available for allocation to other series in
Shared Excess Available Finance Charge Collections Group A
	  	$	[    	] 
	 12. Remaining amount paid to the holder of the Transferor Interest
	  	$	[    	] 
		
	 APPLICATION OF SHARED EXCESS AVAILABLE FINANCE CHARGE COLLECTIONS
ALLOCATED TO SERIES
2013-1
	  	 	 
	 1. Shared Excess Available Finance Charge Collections
	  	$	[    	] 
	 2. Applied to fund Class A Monthly Interest and Class A Additional Interest and any past due Class A Monthly
Interest and Class A Additional Interest
	  	$	[    	] 
	 3. Applied to fund Class B Monthly Interest and Class B Additional Interest and any past due Class B Monthly Interest and Class B
Additional Interest
	  	$	[    	] 
	 4. Applied to fund Class C Monthly Interest and Class C Additional Interest and any past due Class C Monthly Interest and Class C
Additional Interest
	  	$	[    	] 
	 5. Applied to unpaid Series 2013-1 Servicing Fee
	  	$	[    	] 
	 6. Amount equal to Series 2013-1 Default Amount treated as Series 2013-1 Available Principal Collections
	  	$	[    	] 
	 7. Amount equal to unreimbursed reductions in the Series 2013-1 Nominal Liquidation Amount treated as Series 2013-1 Available
Principal Collections
	  	$	[    	] 
	 8. Deposited to the Accumulation Reserve Account
	  	$	[    	] 
	 9. Deposited to the Class C Reserve Account
	  	$	[    	] 
	 10. In the event of default and acceleration, amount up to the outstanding dollar principal amount of the Series 2013-1 Notes
treated as Series 2013-1 Available Principal Collections
	  	$	[    	] 
	 11. Remaining amount treated as Shared Excess Available Finance Charge Collections available to cover Series Available Finance
Charge Collections Shortfalls
	  	$	[    	] 
	 12. Remaining amount paid to the holder of the Transferor Interest
	  	$	[    	] 

  
 B-1-8

					
	 PRINCIPAL COLLECTIONS
	  	 	 
	 1. Series 2013-1 Principal Allocation Percentage
	  	 	[    	]% 
	 2. Series 2013-1 Principal Collections
	  	$	[    	] 
	 3. Reallocated Principal Collections required to pay shortfalls in interest on the Class A Notes or the Class B Notes or
shortfalls in the Series 2013-1 Servicing Fee and past due amounts thereon or uncovered Series 2013-1 Default Amount
	  	$	[    	] 
	 4. Item 2 minus Item 3
	  	$	[    	] 
	 5. Other amounts treated as Series 2013-1 Available Principal Collections
	  	$	[    	] 
	 6. Series 2013-1 Available Principal Collections (total of items 4 and 5)
	  	$	[    	] 
		
	 APPLICATION OF AVAILABLE PRINCIPAL COLLECTIONS DURING REVOLVING
PERIOD
	  	 	 
	 1. Treated as Shared Excess Available Principal Collections
	  	$	[    	] 
		
	 APPLICATION OF PRINCIPAL COLLECTIONS DURING CONTROLLED ACCUMULATION
PERIOD
	  	 	 
	 1. Principal Funding Account
	  	 	[NA	] 
	 2. Treated as Shared Excess Available Principal Collections
	  	 	[NA	] 
		
	 APPLICATION OF PRINCIPAL COLLECTIONS DURING EARLY AMORTIZATION PERIOD
	  	 	 
	 1. Class A Noteholders
	  	 	[NA	] 
	 2. Class B Noteholders
	  	 	[NA	] 
	 3. Class C Noteholders
	  	 	[NA	] 
	 4. Treated as Shared Excess Available Principal Collections
	  	 	[NA	] 
		
	 APPLICATION OF SHARED EXCESS AVAILABLE PRINCIPAL COLLECTIONS
ALLOCATED TO SERIES 2013-1
	  	 	 
	 1. Series 2013-1 Available Principal Collections Shortfall
	  	$	[    	] 
	 2. Shared Excess Available Principal Collections
	  	$	[    	] 

  
 B-1-9

					
	 3. During the Controlled Accumulation Period:
	  			
	 3a. Amount deposited in the Principal Funding Account
	  	$	[    	] 
	 4. During the Early Amortization Period:
	  			
	 4a. Paid to the Class A Noteholders
	  	$	[    	] 
	 4b. Paid to the Class B Noteholders
	  	$	[    	] 
	 4c. Paid to the Class C Noteholders
	  	$	[    	] 
		
	 SERIES 2013-1 PRINCIPAL FUNDING, ACCUMULATION, CLASS C RESERVE ACCOUNT
	  	 	 
	 1. Principal Funding Account
	  			
	 Opening Balance
	  	$	[    	] 
	 Additions
	  	$	[    	] 
	 Withdrawals
	  	$	[    	] 
	 Ending Balance
	  	$	[    	] 
	 2. Investment Proceeds on Principal Funding Account
	  	$	[    	] 
	 3. Accumulation Reserve Account Amount
	  			
	 Opening Balance
	  	$	[    	] 
	 Additions
	  	$	[    	] 
	 Withdrawals
	  	$	[    	] 
	 Ending Balance
	  	$	[    	] 
	 4. Investment Proceeds on Accumulation Reserve Account
	  	$	[    	] 
	 5. Accumulation Reserve Account target amount
	  	$	[    	] 
	 6. Class C Reserve Account Amount
	  			
	 Opening Balance
	  	$	[    	] 
	 Additions
	  	$	[    	] 
	 Withdrawals
	  	$	[    	] 
	 Ending Balance
	  	$	[    	] 
	 7. Investment Proceeds on Class C Reserve Account
	  	$	[    	] 
	 8. Required Class C Reserve Account amount
	  	$	[    	] 
		
	 PORTFOLIO PERFORMANCE DATA
	  	 	 
	 1. Series 2013-1 Portfolio Yield
	  			

  
 B-1-10

					
	 Current Monthly Period
	  	 	[    	]% 
	 Prior Monthly Period
	  	 	[    	]% 
	 Second Prior Monthly Period
	  	 	[    	]% 
	 2. Series 2013-1 Quarterly Portfolio Yield
	  	 	[    	]% 
	 3. Series 2013-1 Base Rate
	  			
	 Current Monthly Period
	  	 	[    	]% 
	 Prior Monthly Period
	  	 	[    	]% 
	 Second Prior Monthly Period
	  	 	[    	]% 
	 4. Series 2013-1 Quarterly Base Rate
	  	 	[    	]% 
	 5. Series 2013-1 Excess Spread Percentage
	  			
	 Current Monthly Period
	  	 	[    	]% 
	 Prior Monthly Period
	  	 	[    	]% 
	 Second Prior Monthly Period
	  	 	[    	]% 
	 6. Series 2013-1 Quarterly Excess Spread Percentage
	  	 	[    	]% 
	 Is the Quarterly Excess Spread Percentage greater than the Required Excess Spread Percentage?
	  	 	[YES	] 
	 7. Principal Payment Rate
	  			
	 Current Monthly Period
	  	 	[    	]% 
	 Prior Monthly Period
	  	 	[    	]% 
	 Second Prior Monthly Period
	  	 	[    	]% 
	 8. Quarterly Principal Payment Rate
	  	 	[    	]% 
	 Is the Quarterly Principal Payment Rate greater than 60%?
	  	 	[YES	] 

  

			
	AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC., as Servicer
		
	By:	 	 
		 	Name:
		 	Title:

  
 B-1-11

 EXHIBIT B-2 

FORM OF ANNUAL PAYMENT INFORMATION 
 AMERICAN EXPRESS ISSUANCE TRUST II 
 SERIES 2013-1 

FOR THE YEAR ENDED DECEMBER 31, 201[    ] 
 The undersigned, a duly authorized representative of American Express Travel Related Services Company, Inc. (“TRS” or the “Servicer”), as Servicer pursuant to the (i) Amended and
Restated Indenture, dated as of March 12, 2013 (as amended from time to time, the “Indenture”), between American Express Issuance Trust II (the “Issuer” or the “Trust”), and The Bank of New York Mellon, as
indenture trustee (the “Indenture Trustee”), as supplemented by the Indenture Supplement, dated as of March 21, 2013 (the “Indenture Supplement”), between the Issuer and the Indenture Trustee and (ii) the Amended and
Restated Servicing Agreement, dated as of March 13, 2013 (hereinafter as such agreement may be from time to time, amended or otherwise modified, the “Servicing Agreement”), among American Express Receivables Financing Corporation VIII
LLC, as transferor (the “Transferor”), TRS, as servicer and administrator, the Issuer, and the Indenture Trustee, does hereby certify as follows: 
 (a) Capitalized terms used in this Certificate have their respective meanings set forth in the Indenture, the Indenture Supplement and the Servicing Agreement. 

(b) Pursuant to Section 7.03 of the Indenture Supplement, the Servicer instructed the Paying Agent to pay in accordance with
Section 7.03 from amounts held by the Paying Agent and allocated to Series 2013-1 or amounts in the Principal Funding Account, as applicable, the following aggregate amounts during the year ended December 31, 201[    ]:

  

					
	 A)    Pursuant to subsection 7.03(a):
	  			
		
	 Interest distributed to Class A Noteholders
	  	$	                	  
		
	 B)     Pursuant to subsection 7.03(b):
	  			
		
	 On each Payment Date with respect to the Early Amortization Period and on the Expected Final Payment Date principal distributed to the Class A
Noteholders
	  	$	                	  
		
	 C)     Pursuant to subsection 7.03(c):
	  			
		
	 Interest distributed to Class B Noteholders
	  	$	                	  
		
	 D)    Pursuant to subsection 7.03(d):
	  			
		
	 On each Payment Date with respect to the Early Amortization Period and on the Expected Final Payment Date principal distributed to the Class B
Noteholders
	  	$	                	  
		
	 E)     Pursuant to subsection 7.03(e):
	  			
		
	 Interest distributed to Class C Noteholders
	  	$	                	  
		
	 F)     Pursuant to subsection 7.03(f):
	  			

  
 B-2-1

					
	 On each Payment Date with respect to the Early Amortization Period and on the Expected Final Payment Date principal distributed to the Class C
Noteholders
	  	$	                	  

 IN WITNESS WHEREOF, the undersigned has duly executed this Certificate this [    ] day of January,
201[    ]. 
  

			
	AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC., as Servicer
		
	By:	 	 
		 	Name:
		 	Title:

  
 B-2-2

 EXHIBIT C 

FORM OF MONTHLY SERVICER’S CERTIFICATE 
 AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC. 
 AMERICAN EXPRESS ISSUANCE
TRUST II 
 SERIES 2013-1 
 The undersigned, a duly authorized representative of American Express Travel Related Services Company, Inc., as servicer (“TRS”), pursuant to the Amended and Restated Servicing Agreement,
dated as of March 12, 2013 (as may be amended and supplemented, the “Agreement”), among American Express Receivables Financing Corporation VIII LLC, a Delaware limited liability company, as transferor, TRS, as servicer and
administrator, American Express Issuance Trust II, a statutory trust created under the laws of the State of Delaware (the “Trust”), and The Bank Of New York Mellon, as Indenture Trustee (the “Indenture Trustee”),
does hereby certify that: 
 1. Capitalized terms used in this Certificate have their respective meanings set
forth in the Agreement or the Amended and Restated Indenture, dated as of March 12, 2013 (as amended from time to time, the “Indenture”), between the Trust and the Indenture Trustee, as supplemented by the Series 2013-1
Indenture Supplement, dated as of March 21, 2013, between the Trust and the Indenture Trustee (as amended and supplemented, the “Indenture Supplement” and together with the Indenture, the “Indenture”), as
applicable. 
 2. TRS is, as of the date hereof, the Servicer under the Agreement. 

3. The undersigned is an Authorized Officer of the Servicer who is duly authorized pursuant to the Agreement to execute
and deliver this Certificate to the Indenture Trustee. 
 4. This Certificate relates to the Payment Date
occurring on [            , 20    ]. 
 5. As of the date hereof, to the best knowledge of the undersigned, the Servicer has performed in all material respects its obligations under the Agreement and the Indenture through the Monthly Period
preceding such Payment Date and no material default in the performance of such obligations has occurred or is continuing except as set forth in paragraph 6 below. 

6. The following is a description of each material default in the performance of the Servicer’s obligations under the
provisions of the Agreement known to me to have been made by the Servicer through the Monthly Period preceding such Payment Date, which sets forth in detail (i) the nature of each such default, (ii) the action taken by the

  
 C-1

 
Servicer, if any, to remedy each such default and (iii) the current status of each such default: [If applicable, insert “None.”] 

  
 C-2

 IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Certificate this
[            ] day of [            ,             ]. 

 

			
	 AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC., as Servicer

		
	By:	 	 
		 	Name:
		 	Title:

  
 C-3EX-10.1

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 This employment agreement (“Agreement”),
dated as of March 21, 2013, is between Universal Insurance Holdings, Inc. a Delaware corporation (“Company”), and Stephen J. Donaghy (“Executive”). 

WHEREAS, the parties wish to establish the terms of Executive’s employment with the Company. 

Accordingly, the parties agree as follows: 
 1. Employment and Acceptance. The Company will employ Executive, and Executive will accept employment, subject to the terms of this Agreement, effective as of February 22, 2013
(“Effective Date”). 
 2. Term. Subject to earlier termination pursuant to Section 5, this
Agreement and the employment relationship hereunder will continue from the Effective Date until December 31, 2014. As used in this Agreement, the “Term” means the period beginning on the Effective Date and ending on the date
Executive’s employment terminates in accordance with this Section 2 or Section 5. In the event that Executive’s employment terminates, the Company’s obligation to continue to pay all Base Salary and other benefits then
accrued will terminate except as may be provided for in Section 5. 
 3. Duties and Title. 

3.1 Title. The Company will employ Executive to render full-time services to the Company, its parent, its subsidiaries and its
affiliates (singularly, “Related Company” or collectively, “Related Companies”). The Company will employ Executive as Chief Administrative Officer, reporting to the Chief Executive Officer and Chief Operating
Officer of the Company. 
 3.2 Duties. Executive will have such authority and responsibilities and will perform such
duties as the Company, its Chief Executive Officer or its Chief Operating Officer may assign, commensurate with his position. Executive will devote all his full working-time and attention to the performance of such duties and to the promotion of the
Company’s or a Related Company’s business and interests. 
 3.3 Other Business Activities. Executive may not
engage in any activity that conflicts with the Company’s or a Related Company’s interests or would materially interfere with the performance of Executive’s duties to the Company, as determined by the Company in its sole discretion.
Executive may not hold, directly or indirectly, an ownership interest of more than 2% in any entity which competes with the Company or a Related Company, as determined by the Company in its sole discretion. 

 4. Compensation and Benefits by the Company. As compensation for all services
rendered pursuant to this Agreement, the Company will provide Executive the following during the Term: 
 4.1 Base
Salary. The Company will pay Executive an annual base salary of $750,000, payable in accordance with the Company’s customary payroll practices, which shall be increased by 7.25% on January 1, 2014 over the rate in effect on the
Effective Date (“Base Salary”). 
 4.2 Annual Bonus. Executive shall receive an annual bonus of one and
one-half percent (1.5%) of the Company’s annual after-tax profit, which shall be computed as at December 31 of each year of the Term of this Agreement (with such bonus for calendar year 2013 based on January 1, 2013 and not the
Effective Date) (the “Annual Bonus”); provided, however, that in no event shall any bonus due and owing under this Section 4.2 be paid to Executive later than March 15 of the year following the year in which it was
earned; provided, further, that the payment of any bonus pursuant to this Section 4.2 shall be contingent upon the Company’s shareholders approving the bonus formula described in this Section 4.2 at the Company’s
annual meeting of shareholders in 2013, and should the Company’s shareholders fail to approve the bonus formula described in this Section 4.2, Executive shall have no right or entitlement under this Section 4.2. For the avoidance of
doubt, if Executive has earned a bonus under this Section 4.2, he need not be employed on the bonus payment date to receive such bonus, provided, that he is employed through December 31 of the year to which the bonus relates.

 4.3 Participation in Executive Benefit Plans. Executive is entitled, if and to the extent eligible, to participate in
the Company’s benefit plans generally available to Company employees in similar positions. Executive is eligible to participate in the Company’s equity incentive plans, including the 2009 Omnibus Incentive Plan, as it may be amended from
time to time (“Plan”), at the Company’s sole discretion. 
 4.4 Vacation. Executive will receive paid
vacation of twenty-one (21) business days per fiscal year. Unused vacation days will be forfeited at the end of each fiscal year. Executive is not entitled to payment for unused vacation days upon the termination of employment. Notwithstanding
the foregoing, for the fiscal year containing the Effective Date, Executive will receive twenty-one (21) business days of paid vacation. 
 4.5 Expense Reimbursement. The Company will reimburse Executive for all appropriate business expenses Executive incurs in connection with Executive’s duties under this Agreement in accordance
with the Company’s policies as in effect from time to time. 
 4.6 Automobile Allowance. During the Term, the
Company will pay Executive a monthly car allowance of $500 for the purposes of obtaining and maintaining an automobile to facilitate the performance of Executive’s duties. 

4.7 Insurance. During the Term, the Company will pay applicable premiums on a $1,000,000 term life insurance policy on Executive
payable to Executive’s designee. 
 4.8 Restricted Stock Grants. Subject to his continued employment through the
applicable grant dates and vesting dates (except as otherwise provided herein), Executive is entitled to receive (1) a time-based award of 100,000 restricted shares granted on 

  
 2 

 
a date specified by the Compensation Committee in April, 2013 and vesting in April, 2014, and (2) a time-based award of 200,000 restricted shares granted on a date specified by the Committee
in April, 2014, with 100,000 of such restricted shares vesting on December 31, 2014 and the remaining 100,000 restricted shares vesting on December 31, 2015. No grant shall occur unless Executive has remained in the continuous full-time
employ of the Company through the applicable grant date or if Executive’s employment has ended for any reason (including death) prior to the applicable grant date, and, except as provided in Section 5, no award, once granted, shall vest
unless Executive remains in the continuous employ of the Company through the applicable vesting date or if Executive’s employment has ended for any reason (including death) prior to the applicable vesting date. Each grant shall be subject to
the terms and conditions of the applicable restricted stock award and shall be governed by the Plan and other applicable award documentation. 
 4.9 Subject to his continued employment through the applicable grant dates and vesting dates (except as otherwise provided herein), Executive is entitled to receive (1) a time-based award of 100,000
restricted shares granted on a date specified by the Compensation Committee in April, 2013 and vesting in April, 2014, and (2) a time-based award of 200,000 restricted shares granted on a date specified by the Committee in April, 2014 and
vesting as to (A) 100,000 shares on December 31, 2014 and (B) 100,000 shares on December 31, 2015. No grant shall occur unless Executive has remained in the continuous full-time employ of the Company through the applicable grant
date or if Executive’s employment has ended for any reason (including death) prior to the applicable grant date, and, except as provided in Section 5, no award, once granted, shall vest unless Executive remains in the continuous employ of
the Company through the applicable vesting date or if Executive’s employment has ended for any reason (including death) prior to the applicable vesting date. Each grant shall be subject to the terms and conditions of the applicable restricted
stock award and shall be governed by the Plan and other applicable award documentation. 
 5. Termination of Employment.

 5.1 Payment Upon Termination. If Executive’s employment terminates for any reason, Executive will receive, within
30 days of termination, a lump sum cash payment equal to (1) accrued but unpaid Base Salary through the date of termination, (2) any employee benefits Executive may be entitled to pursuant to the Company’s employee benefit plans
through the date of termination and (3) expenses reimbursable under Section 4.5 incurred but not yet reimbursed to Executive through the date of termination. 
 5.2 Payment Upon Termination Without Cause. If during the Term the Company terminates Executive’s employment without Cause (which may be done at any time without prior notice), within 30 days
of termination Executive will receive, in addition to the payment specified in Section 5.1, a lump-sum cash payment equal to Executive’s Base Salary for a period equal to the remaining Term of the Agreement, provided Executive executes
(without revocation) a valid release agreement in a form reasonably acceptable to the Company. The Company will have no obligation to provide the benefits set forth in this Section 5.2 in the event that Executive breaches the provisions of
Section 6. For purposes of this Agreement, “Cause” means, as determined by Company (or its designee), (1) Executive’s material breach of Executive’s obligations or representations under this Agreement,
(2) Executive’s arrest 

  
 3 

 
for, conviction of or plea of nolo contendere to a felony, (3) Executive’s acts of dishonesty resulting or intending to result in personal gain or enrichment at the Company’s or a
Related Company’s expense, (4) Executive’s fraudulent, unlawful or grossly negligent conduct in connection with Executive’s duties under this Agreement, (5) Executive’s engaging in personal conduct which seriously
discredits or damages the Company or a Related Company, (6) contravention of the Company’s specific lawful directions or continuing inattention to or continuing failure to adequately perform the duties described under Section 3.2,
(7) Executive’s material breach of the Company’s manuals, written policies, codes or procedures, (8) initiation of a regulatory inquiry, investigation or proceeding regarding Executive’s performance of duties on the
Company’s or a Related Company’s behalf or (9) breach of Executive’s covenants set forth in Section 6 below before termination of employment. A termination for Cause is effective immediately or on such other date set forth
by the Company. 
 5.3 Payment Upon Termination for Good Reason. If during the Term Executive terminates Executive’s
employment for Good Reason, within 30 days of termination Executive will receive, in addition to the payment specified in Section 5.1, a lump-sum cash payment equal to Executive’s Base Salary for a period equal to the remaining Term of the
Agreement, provided Executive executes (without revocation) a valid release agreement in a form reasonably acceptable to the Company. The Company will have no obligation to provide the benefits set forth in this Section 5.3 in the event that
Executive breaches the provisions of Section 6. For purposes of this Agreement, “Good Reason” means, without Executive’s consent, the Company’s material breach of the Agreement. Executive must notify the Company in
writing within 30 days of the occurrence of any breach constituting Good Reason. Executive must give the Company 30 days following receipt of such written notice to cure the breach. 

5.4 Termination Because of Death. If Executive’s employment terminates because of Executive’s death, within 30 days of
termination Executive’s legal representatives will receive, in addition to the payments specified in Section 5.1, a lump-sum cash payment equal to Executive’s unpaid Base Salary from the date of termination through the last day of the
month in which Executive’s death occurred and any employee benefits Executive may be entitled to pursuant to the Company’s employee benefit plans through such period. 

5.5 Termination Because of Disability. The Company may terminate Executive’s employment because of Executive’s
Disability. For purposes of this Agreement, “Disability” means a determination by the Company that, as a result of a physical or mental injury or illness, Executive is unable to perform the essential functions of Executive’s
job with or without reasonable accommodation for a period of 90 consecutive days or 60 days in any six (6)-month period. 
 5.6
Termination in Connection with a Change in Control. 
 (a) Payment. In the event that, in
connection with a Change in Control (as defined below) during the Term, Executive’s employment with the Company is involuntarily terminated by the Company other than for Cause or if Executive resigns for Good Reason upon or within twenty-four
(24) months following such Change in Control (notwithstanding the expiration of the Term), then, in lieu of any severance or other amounts payable by the Company 

  
 4 

 
under Section 5 of this Agreement or otherwise in connection with Executive’s termination of employment, the Company or its successor shall pay Executive no later than the sixtieth day
following such termination of employment in connection with a Change in Control a cash lump sum amount equal to twenty-four (24) months of Executive’s Base Salary at the time of such Change in Control. In addition, upon a Change in
Control, all options held by Executive shall vest and become immediately exercisable. For purposes of this Agreement, a “Change in Control” shall be deemed to have occurred if (1) there shall be consummated (A) any
consolidation or merger in which the Company is not the continuing or surviving corporation or pursuant to which shares of the Company’s common stock would be converted into cash, securities or other property, other than a consolidation or a
merger having the same proportionate ownership of common stock of the surviving corporation immediately after the consolidation or merger or (B) any sale, lease, exchange or other transfer (in one transaction or a series of related transactions
other than in the ordinary course of business of the Company) of all, or substantially all, of the assets of the Company to any corporation, person or other entity which is not a direct or indirect wholly-owned subsidiary of the Company, or
(2) any person, group, corporation or other entity shall acquire beneficial ownership (as determined pursuant to Section 13(d) of the Securities Exchange Act of 1934, as amended, and rules and regulations promulgated hereunder) of 50% or
more of the Company’s outstanding common stock; provided, however, that in all cases, any such event described in this Section 5.6(a) will not be determined to constitute a Change in Control unless the event constitutes
either a “change in ownership,” “change in effective control” or “change in the ownership of a substantial portion of the assets” of the Company, as such terms are described in Treasury Regulation
Section 1.409A-3(i)(5). 
 (b) Limitation on Change in Control Payments. Notwithstanding anything in
this Agreement to the contrary, in the event that it is determined by an independent accounting firm chosen by mutual agreement of the parties that any economic benefit, payment or distribution by the Company to or for the benefit of Executive,
whether paid, payable, distributed or distributable pursuant to the terms of this Agreement or otherwise (a “Payment”), would be subject to the excise tax imposed by Section 4999 of the Internal Revenue Code of 1986, as amended
(the “Code”), then the value of any such Payments payable under this Agreement which constitute “parachute payments” under Section 280G(b)(2) of the Code, as determined by the independent accounting firm, will be
reduced so that the present value of all Payments (calculated in accordance with Section 280G of the Code and the regulations thereunder), in the aggregate, is equal to 2.99 times Executive’s “base amount,” within the meaning of
Section 280G(b)(3) of the Code. 
 (c) Special Definition of “Good Reason”. For purposes
of this Section 5.6, in addition to the definition above, “Good Reason” will also include (i) any material adverse change in Executive’s title, duties or reporting responsibilities and (ii) with respect to
Executive’s title, duties, reporting responsibilities, compensation levels and situs of employment in effect after the expiration of the Term, any material adverse change in such title, duties, reporting responsibilities, compensation levels
and situs of employment from those in effect immediately prior to the expiration of the Term. 

  
 5 

 6. Restrictions and Obligations of Executive. 

6.1 Non-Disparagement. Executive will not at any time (whether during or after the Term) publish or communicate to any person or
entity any Disparaging remarks, comments or statements concerning the Company or a Related Company, and their respective present and former members, partners, directors, officers, shareholders, employees, agents, attorneys, successors, assigns,
clients and agents. “Disparaging” remarks, comments or statements are those that impugn the character, honesty, integrity, morality, business acumen or abilities in connection with any aspect of the operation of business of the
individual or entity being disparaged. 
 6.2 Confidentiality. During the course of Executive’s employment,
Executive has had and will have access to certain trade secrets and confidential information relating to the Company and the Related Companies which is not readily available from sources outside the Company. The parties agree that the business in
which the Company engages is highly sales-oriented and the goodwill established between Executive and the Company’s customers and potential customers is a valuable and legitimate business interest worthy of protection under this Agreement.
Executive recognizes that, by virtue of Executive’s employment by the Company, Executive is granted otherwise prohibited access to the Company’s confidential and proprietary data which is not known to its competitors and which has
independent economic value to the Company and that Executive will gain an intimate knowledge of the Company’s business and its policies, customers, employees and trade secrets, and of other confidential, proprietary, privileged or secret
information of the Company and its clients (collectively, all such nonpublic information is referred to as “Confidential Information”). This Confidential Information includes, but is not limited to, data relating to the
Company’s marketing and servicing programs, procedures and techniques, business, management and personnel strategies, analytic tools and processes, the criteria and formulae used by the Company in pricing its insurance products and claims
management, loss control and information management services, the Company’s computer system, reinsurance marketing program and the skill of marketing and selling products, the structure and pricing of special reinsurance products or packages
that the Company has negotiated with various underwriters, lists of prospects, customer lists and renewals, the identity, authority and responsibilities of key contacts at clients’ accounts, the composition and organization of clients’
business, the peculiar risks inherent in a client’s operations, highly sensitive details concerning the structure, conditions and extent of a client’s existing insurance and reinsurance coverages, policy expiration dates and premium
amounts, commission rates, risk management service arrangements, loss histories and other data showing clients’ particularized insurance requirements and preferences. 
 Except as required by law or an order of a court or governmental agency with jurisdiction, Executive will not, during the Term or any time thereafter, disclose any Confidential Information, directly or
indirectly, to any person or entity for any reason or purpose whatsoever, nor will Executive use it in any way. Executive will take all reasonable steps to safeguard the Confidential Information and to protect it against disclosure, misuse,
espionage, loss and theft. Executive understands and agrees that Executive will acquire no rights to any such Confidential Information. 

  
 6 

 At the Company’s request from time to time and upon the termination of Executive’s
employment for any reason, Executive will promptly deliver to the Company all copies and embodiments, in whatever form, of all Confidential Information in Executive’s possession or within Executive’s control (including, but not limited to,
memoranda, records, notes, plans, photographs, manuals, notebooks, documentation, program listings, flow charts, magnetic media, disks, diskettes, tapes and all other materials containing any Confidential Information) irrespective of the location or
form of such material. If requested by the Company, Executive will provide the Company with written confirmation that all such materials have been delivered to the Company as provided herein. 

6.3 Non-Solicitation or Hire. During the Term and for a period of one (1)-year following the termination of Executive’s
employment for any reason, Executive will not directly or indirectly solicit or attempt to solicit or induce, directly or indirectly, (1) any party who is a client, customer or policyholder of the Company or a Related Company, or who was a
client, customer or policyholder of the Company or a Related Company at any time during the one (1)-year period immediately prior to the date of termination, for the purpose of marketing, selling or providing to any such party any services or
products offered by or available from the Company or a Related Company and (2) any employee of the Company or a Related Company or any person who was an employee of the Company or a Related Company during the one (1)-year period immediately
prior to the date Executive’s employment terminates to terminate such employee’s employment relationship with the Company or a Related Company, in either case, to enter into a similar relationship with Executive or any other person or any
entity in competition with the Company or a Related Company. During the Term and for a period of one (1)-year following the termination of Executive’s employment for any reason, Executive will not enter into an employment relationship, directly
or indirectly, with any employee of the Company or a Related Company or any person who was an employee of the Company or a Related Company during the one (1)-year period immediately prior to the date Executive’s employment terminates.

 6.4 Non-Competition. During the Term and for a period of one (1)-year following the Executive’s termination of
employment for any reason, Executive will not, whether individually, as a director, manager, member, stockholder, partner, owner, employee, consultant or agent of any business, or in any other capacity, other than on behalf of the Company or a
Related Company, organize, establish, own, operate, manage, control, engage in, participate in, invest in, permit Executive’s name to be used by, act as a consultant or advisor to, render services for (alone or in association with any person,
firm, corporation or business organization) or otherwise assist any person or entity that engages in or owns, invests in, operates, manages or controls any venture or enterprise which engages or proposes to engage in any business conducted by the
Company or a Related Company during the one (1)-year period immediately prior to the date Executive’s employment terminates. 
 6.5 Company Policies. During the Term and all periods thereafter, Executive will remain in strict compliance with the Company’s policies and guidelines, including the Company’s code of
business conduct or code of ethics. 

  
 7 

 7. Representations and Warranties by Executive. Executive represents and warrants the
following: 
 7.1 Skills and Competencies. Any resume, employment history or related information directly or indirectly
provided by Executive to the Company, whether orally or in writing, is true, complete and accurate in all respects. Further, Executive is qualified by education and experience to perform the duties contemplated by this Agreement. 

7.2 Absence of Restrictions. Executive is not a party to or subject to any restrictive covenants, legal restrictions or other
agreements in favor of any entity or person which would in any way preclude, inhibit, impair or limit Executive’s ability to perform Executive’s obligations under this Agreement, including, but not limited to, non-competition agreements,
non-solicitation agreements or confidentiality agreements. 
 7.3 Absence of Litigation. Within the 5-year period ending
on the Effective Date, Executive has not been involved in any proceeding, claim, lawsuit or investigation alleging wrongdoing by Executive in connection with any prior employer before any court or public or private arbitration board or panel.

 8. Remedies; Specific Performance. The parties acknowledge and agree that Executive’s breach or threatened breach
of any of the restrictions set forth in Section 6 will result in irreparable and continuing damage to the Company and the Related Companies for which there may be no adequate remedy at law and that the Company and the Related Companies are
entitled to equitable relief, including specific performance and injunctive relief as remedies for any such breach or threatened or attempted breach. Executive consents to the grant of an injunction (temporary or otherwise) against Executive or the
entry of any other court order against Executive prohibiting and enjoining Executive from violating, or directing Executive to comply with, any provision of Section 6. Executive also agrees that such remedies are in addition to any and all
remedies, including damages, available to the Company and the Related Companies against Executive for such breaches or threatened or attempted breaches. In addition, without limiting the Company’s and the Related Companies’ remedies for
any breach of any restriction on Executive set forth in Section 6, except as required by law, Executive is not entitled to any payments set forth in Sections 5.2 or 5.3 if Executive has breached the covenants contained in Section 6.
Executive will immediately return to the Company any such payments previously received under Sections 5.2 or 5.3 upon such a breach and, in the event of such breach, the Company will have no obligation to pay any of the amounts that remain
payable by the Company under Sections 5.2 or 5.3. 
 9. Code Section 409A. Notwithstanding anything herein to the
contrary, any payments to be made to Executive under this Agreement shall be made in accordance with Section 409A of the Code. If the Company determines that Executive is not a “specified employee” as defined in Section 409A of
the Code as of the date of Executive’s termination, no payment described in Section 5.2 will be paid earlier than the date on which Executive incurs a “separation from service” as that term is defined in Section 409A of the
Code. If the Company determines that Executive is a specified employee as of the date of Executive’s termination, no payment described in Section 5.2 will be paid earlier than the date that is six (6) months after the date on which
Executive incurs a separation from service, but will be paid during the calendar year following the year in which the termination occurs and within 30 calendar days of the earliest possible date permitted under Section 409A of the Code.

  
 8 

 10. Notice. For purposes of this Agreement, all notices and other communications will
be in writing and will be deemed to have been duly given when delivered or when mailed by United States registered or certified mail, return receipt requested, first-class postage prepaid, addressed as follows: 

 

			
	If to Executive:	 	If to the Company:
		
	 Stephen J. Donaghy
 to
Executive’s most recent
 address on file with the Company
	 	 1110 West Commercial Boulevard
 Fort Lauderdale, Florida 33309
 Attn: Janet Conde

 or to such other address as any party may have furnished to the other in writing in accordance with this Section 10,
except that notices of any change of address is effective only upon actual receipt. 
 11. Entire Agreement. This
Agreement contains the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements, written or oral, with respect thereto. 

12. Waiver and Amendments. This Agreement may be amended, modified, superseded, canceled, renewed or extended, and the terms and
conditions hereof may be waived, only by a written instrument signed by the parties or, in the case of a waiver, by the party waiving compliance. No delay on the part of any party in exercising any right, power or privilege hereunder shall operate
as a waiver thereof, nor shall any waiver on the part of any right, power or privilege hereunder, nor any single or partial exercise of any right, power or privilege hereunder, preclude any other or further exercise thereof or the exercise of any
other right, power or privilege hereunder. 
 13. Governing Law: This Agreement will be governed and construed in
accordance with the laws of the State of Florida applicable to agreements made and not to be performed entirely within such state, without regard to conflicts of laws principles. 

14. Venue. The parties agree that the exclusive venue for any litigation relating to this Agreement will be the state courts
located in Broward County, Florida and the United States District Court, Southern District of Florida, Fort Lauderdale Division in Broward County, Florida. The parties waive any rights to object to venue as set forth herein, including any argument
of inconvenience for any reason. 
 15. Assignability by the Company and Executive. The Company may assign this
Agreement, and the rights and obligations hereunder, at any time. Other than to the extent provided in Section 5.4, Executive may not assign this Agreement or the rights and obligations hereunder. 

16. Counterparts. This Agreement may be executed in counterparts, each of which will be deemed an original but all of which will
constitute one and the same instrument. 
 17. Headings. The headings in this Agreement are for convenience of reference
only and will not limit or otherwise affect the meaning of terms contained herein. 

  
 9 

 18. Severability. If any term, provision, covenant or restriction of this Agreement,
or any part thereof, is held by a court of competent jurisdiction of any foreign, federal, state, county or local government or any other governmental, regulatory or administrative agency or authority to be invalid, void, unenforceable or against
public policy for any reason, the remainder of the terms, provisions, covenants and restrictions of this Agreement will remain in full force and effect and will in no way be affected or impaired or invalidated. If any court determines that any of
such covenants, or any part thereof, is invalid or unenforceable because of the geographic or temporal scope of such provision, such court will reduce such scope to the minimum extent necessary to make such covenants valid and enforceable. Executive
acknowledges that the restrictive covenants contained in Section 6 are a condition of this Agreement and are reasonable and valid in temporal scope and in all other respects. 

19. Tax Withholding. The Company or other payor is authorized to withhold from any benefit provided or payment due hereunder, the
amount of withholding taxes due any federal, state or local authority in respect of such benefit or payment and to take such other action as may be necessary in the Company’s opinion to satisfy all obligations for the payment of such
withholding taxes. 
 [signatures on following page] 

  
 10 

 IN WITNESS WHEREOF, the parties hereto, intending to be legally bound hereby, have executed
this Agreement as of the day and year first above mentioned. 
  

	
	 /s/ Stephen J. Donaghy

	Stephen J. Donaghy

  

			
	UNIVERSAL INSURANCE HOLDINGS, INC.
		
	By:	 	 /s/ Sean P. Downes

	 Name: Sean P. Downes

	 Title: President and Chief Executive Officer

 [2013 DONAGHY EMPLOYMENT AGREEMENT SIGNATURE PAGE ]

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