Document:

Exhibit 4.1

 Exhibit 4.1 
 CHASE ISSUANCE TRUST 
 as Issuing Entity 
 CLASS B(2008-2) TERMS DOCUMENT 
 dated as of August 27, 2008 
 to 
 AMENDED AND RESTATED 
 CHASESERIES INDENTURE SUPPLEMENT 
 dated as of October 15, 2004 
 to 
 THIRD AMENDED AND RESTATED 
 INDENTURE 
 dated as of December 19, 2007 
 WELLS FARGO BANK, NATIONAL ASSOCIATION 
 as Indenture Trustee and Collateral Agent 

 TABLE OF CONTENTS 
  

					
	  	  	 	  	PAGE
	
	ARTICLE I
	
	Definitions and Other Provisions of General Application
			
	 Section 1.01
	  	 Definitions
	  	1
	 Section 1.02
	  	 Governing Law
	  	4
	 Section 1.03
	  	 Counterparts
	  	4
	 Section 1.04
	  	 Ratification of Indenture and Indenture Supplement
	  	5
	
	ARTICLE II
	
	The Class B(2008-2) Notes
			
	 Section 2.01
	  	 Creation and Designation
	  	6
	 Section 2.02
	  	 Specification of Required Subordinated Amount and Other Terms
	  	6
	 Section 2.03
	  	 Interest Payment
	  	7
	 Section 2.04
	  	 Calculation Agent; Determination of LIBOR
	  	7
	 Section 2.05
	  	 Payments of Interest and Principal
	  	8
	 Section 2.06
	  	 Form of Delivery of Class B(2008-2) Notes; Depository; Denominations
	  	8
	 Section 2.07
	  	 Delivery and Payment for the Class B(2008-2) Notes
	  	9
	 Section 2.08
	  	 Supplemental Indenture
	  	9
	
	ARTICLE III
	
	Restrictions on Transfer of the Class B(2008-2) Notes
			
	 Section 3.01
	  	 Private Placement of the Class B(2008-2) Notes
	  	10
	 Section 3.02
	  	 Transfer of the Class B(2008-2) Notes
	  	10
	
	ARTICLE IV
	
	Miscellaneous Provision
			
	 Section 4.01
	  	 Amendments
	  	19

 THIS CLASS B(2008-2) TERMS DOCUMENT (this “Terms Document”), by and between the CHASE ISSUANCE
TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuing Entity”), having its principal office at c/o Wilmington Trust Company, 1100 North Market Street, Wilmington, Delaware 19890-1600, and WELLS FARGO BANK,
NATIONAL ASSOCIATION, a national banking association, as indenture trustee (the “Indenture Trustee”) and collateral agent (the “Collateral Agent”), is made and entered into as of August 27, 2008. 
 Pursuant to this Terms Document, the Issuing Entity and the Indenture Trustee shall create a new Tranche of CHASEseries Class B Notes and shall specify
the principal terms thereof. 
 ARTICLE I 
 DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 
 Section 1.01 Definitions. For
all purposes of this Terms Document, except as otherwise expressly provided or unless the context otherwise requires: 
 (1) the terms
defined in this Article have the meanings assigned to them in this Article, and include the plural as well as the singular; 
 (2) all other
terms used herein which are defined in the Indenture Supplement, the Indenture or the Asset Pool Supplement, either directly or by reference therein, have the meanings assigned to them therein; 
 (3) as used in this Terms Document and in any certificate or other document made or delivered pursuant hereto or thereto, accounting terms not defined in
this Terms Document or in any such certificate or other document, and accounting terms partly defined in this Terms Document or in any such certificate or other document to the extent not defined, shall have the respective meanings given to them
under GAAP. To the extent that the definitions of accounting terms in this Terms Document or in any such certificate or other document are inconsistent with the meanings of such terms under GAAP, the definitions contained in this Terms Document or
in any such certificate or other document shall control; 
 (4) the words “hereof,” “herein,” “hereunder” and
words of similar import when used in this Terms Document shall refer to this Terms Document as a whole and not to any particular provision of this Terms Document; references to any subsection, Section, clause, Schedule or Exhibit are references to
subsections, Sections, clauses, Schedules and Exhibits in or to this Terms Document unless otherwise specified; the term “including” means “including without limitation”; references to any law or regulation refer to that law or
regulation as amended from time to time and include any successor law or regulation; references to any Person include that Person’s successors and assigns; and references to any agreement refer to such agreement, as amended, supplemented or
otherwise modified from time to time; 
 (5) in the event that any term or provision contained herein shall conflict with or be inconsistent
with any term or provision contained in the Indenture Supplement, the 

 
Indenture or the Asset Pool Supplement, the terms and provisions of this Terms Document shall be controlling; and 
 (6) each capitalized term defined herein shall relate only to the Class B(2008-2) Notes and no other Tranche of CHASEseries Notes issued by the Issuing
Entity. 
 “Asset Pool Supplement” means the Second Amended and Restated Asset Pool One Supplement to the Indenture, dated
as of December 19, 2007, by and among the Issuing Entity, the Indenture Trustee and the Collateral Agent. 
 “Bank”
means Chase Bank USA, National Association, a national banking association. 
 “Beneficiary” means Chase Bank USA, National
Association, in its capacity as beneficial owner of the Issuing Entity. 
 “Calculation Agent” is defined in
Section 2.04(a). 
 “Class B(2008-2) Adverse Event” means the occurrence of any of the following:
(a) an Early Amortization Event with respect to the Class B(2008-2) Notes, (b) an Event of Default and acceleration of the Class B(2008-2) Notes, (c) the Class B Usage of the Class C Required Subordinated Amount for the Class
B(2008-2) Notes becomes greater than zero. 
 “Class B(2008-2) Note” means any Note, substantially in the form
set forth in Exhibit A-1 to the Indenture Supplement, designated therein as a Class B(2008-2) Note and duly executed and authenticated in accordance with the Indenture. 
 “Class B(2008-2) Noteholder” means a Person in whose name a Class B(2008-2) Note is registered in the Note Register. 
 “Class B(2008-2) Tax Opinion” means an Opinion of Counsel stating that the Class B(2008-2) Notes will be characterized as debt for
United States federal income tax purposes. 
 “Class B(2008-2) Termination Date” means the earliest to occur
of (a) the Principal Payment Date on which the Outstanding Dollar Principal Amount of the Class B(2008-2) Notes is paid in full, (b) the Legal Maturity Date and (c) the date on which the Indenture is discharged and satisfied pursuant
to Article V thereof. 
 “Class B Required Subordinated Amount of Class C Notes” is defined in Section 2.02(a).

 “Controlled Accumulation Amount” means $58,333,333.34; provided, however, if the Accumulation Period Length
is determined to be less than twelve months pursuant to Section 3.12(b)(ii) of the Indenture Supplement, the Controlled Accumulation Amount for any Note Transfer Date with respect to the Class B(2008-2) Notes will be the amount specified in the
definition of “Controlled Accumulation Amount” in the Indenture Supplement. 
  

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 “Eligible Purchaser” means a corporation, partnership or other entity which can make the
representations set forth in Section 3.02(b) or (c) hereof, as applicable, and that is either (x) a QIB, or in the case of an initial Transfer by the Bank only, an “Accredited Investor” within the meaning of Rule
501(a)(1)(2)(3) or (7) of Regulation D under the Securities Act or (y) a Non-U.S. Person (as defined in Regulation S under the Securities Act) in an offshore transaction in compliance with Rule 903 or Rule 904 of Regulation S under the
Securities Act. 
 “Exempt Transaction” means a Transfer to an Eligible Purchaser in a transaction exempt from the
registration requirements of the Securities Act and applicable state securities or “blue sky” laws. 
 “Indenture”
means the Third Amended and Restated Indenture, dated as of December 19, 2007, between the Issuing Entity and the Indenture Trustee. 
 “Indenture Supplement” means the Amended and Restated CHASEseries Indenture Supplement, dated as of October 15, 2004, among the Issuing Entity, the Indenture Trustee and the Collateral Agent. 
 “Initial Dollar Principal Amount” means $700,000,000. 
 “Interest Payment Date” means September 15, 2008 and the 15th day of each month thereafter, or if such 15th day is not a Business Day, the next succeeding Business Day. 
 “Interest Period” means, with respect to any Interest Payment Date, the period from and including the previous Interest Payment Date (or
in the case of the initial Interest Payment Date, from and including the Issuance Date) to but excluding such Interest Payment Date. 
 “Issuance Date” means August 27, 2008. 
 “Legal Maturity Date” means September 15,
2011. 
 “LIBOR” means, for any Interest Period, the London interbank offered rate for one-month United States dollar
deposits determined by the Calculation Agent on the LIBOR Determination Date for each Interest Period in accordance with the provisions of Section 2.04. 
 “LIBOR Determination Date” means (1) August 25, 2008 for the period from and including the Issuance Date through but excluding September 15, 2008 and (2) for each interest period
thereafter, the second London Business Day prior to the commencement of the second and each subsequent Interest Period. 
 “London Business Day” means any Business Day on which dealings in deposits in United States Dollars are transacted in the London interbank market. 
 “Note Interest Rate” means a rate per annum equal to 2.73% in excess of LIBOR as determined by the Calculation Agent on the related
LIBOR Determination Date with respect to each Interest Period. 
  

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 “Paying Agent” means Wells Fargo Bank, National Association. 
 “Predecessor Note” means, with respect to any particular Note, every previous Note evidencing all or a portion of the same debt as that
evidenced by such particular Note; and, for the purpose of this definition, any Note authenticated and delivered under Section 3.06 of the Indenture in lieu of a mutilated, lost, destroyed or stolen Note shall be deemed to evidence the same
debt as the mutilated, lost, destroyed or stolen Note. 
 “QIB” means a “qualified institutional buyer,” as
defined in Rule 144A under the Securities Act. 
 “Record Date” means, for any Note Transfer Date, the last Business Day of
the preceding Monthly Period. 
 “Reference Banks” means four major banks in the London interbank market selected by the
Beneficiary. 
 “Reuters Screen LIBOR01 Page” means the display page so designated on the Reuters Monitor Money Rates (or
such other page as may replace that page on that service, or such other service as may be nominated as the information vendor, for the purposes of displaying rates comparable to LIBOR). 
 “Scheduled Principal Payment Date” means September 15, 2009. 
 “Stated Principal Amount” means $700,000,000. 
 “Targeted Holders” means each holder of a right to receive interest or principal with respect to any interest in the Issuing Entity with respect to which a Class B(2008-2) Tax Opinion has not been
rendered; provided, however, that any Person holding more than one right or interest each of which would cause such Person to be a Targeted Holder shall be treated as a single Targeted Holder. 
 “Transfer” means a sale, conveyance, assignment, hypothecation, pledge, participation, or other form of transfer of any Class B(2008-2)
Note. 
 Section 1.02 Governing Law. THIS TERMS DOCUMENT WILL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF
THE STATE OF DELAWARE WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 Section 1.03 Counterparts. This Terms Document may be executed in any number of counterparts, each of which so executed will be deemed to be an
original, but all such counterparts will together constitute but one and the same instrument. 
 Section 1.04 Ratification of Indenture
and Indenture Supplement. As supplemented by this Terms Document, each of the Indenture, the Asset Pool Supplement and 

  

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the Indenture Supplement is in all respects ratified and confirmed and the Indenture as so supplemented by the Asset Pool Supplement and the Indenture
Supplement as so supplemented by this Terms Document shall be read, taken and construed as one and the same instrument. 
 [END OF ARTICLE I]

  

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 ARTICLE II 
 THE CLASS B(2008-2) NOTES 
 Section 2.01 Creation and Designation. There is hereby
created a Tranche of CHASEseries Class B Notes to be issued pursuant to the Indenture and the Indenture Supplement to be known as the “CHASEseries Class B(2008-2) Notes.” 
 Section 2.02 Specification of Required Subordinated Amount and Other Terms. For the Class B(2008-2) Notes, for any date of determination, the
Class B Required Subordinated Amount of Class C Notes will be an amount equal to: 
 (a) for any date of determination prior
to the occurrence of a Class B(2008-2) Adverse Event, the product of 
 (i) the sum of 
 (1) a fraction (x) the numerator of which is equal to the sum of the Class A Required Subordinated Amount of Class C Notes on
such date of determination for all outstanding Tranches of CHASEseries Class A Notes for which the Class A Required Subordinated Amount of Class B Notes on such date of determination is greater than zero and (y) the denominator of
which is equal to the Adjusted Outstanding Dollar Principal Amount on such date of determination of all outstanding CHASEseries Class B Notes (including the Class B(2008-2) Notes), and 
 (2) the product of (x) 6.10080% and (y) a fraction (A) the numerator of which is equal to (1) the Adjusted
Outstanding Dollar Principal Amount on such date of determination of all outstanding CHASEseries Class B Notes (including the Class B(2008-2) Notes) minus (2) the Class A Required Subordinated Amount of Class B Notes on such date of
determination for all outstanding Tranches of CHASEseries Class A Notes for which the Class A Required Subordinated Amount of Class B Notes is greater than zero; provided, however, that such numerator shall not be less than
zero and (B) the denominator of which is equal to the Adjusted Outstanding Dollar Principal Amount on such date of determination of all outstanding CHASEseries Class B Notes (including the Class B(2008-2) Notes), and 
 (ii) the Adjusted Outstanding Dollar Principal Amount on such date of determination of the Class B(2008-2) Notes; and 
 (b) for any date of determination on and after the date on which a Class B(2008-2) Adverse Event shall have occurred, the greater of
(1) the amount determined in subsection 2.02(a) for such date of determination and (2) the amount determined in subsection 2.02(a) for the date immediately prior to the date on which such Class B(2008-2) Adverse Event shall have occurred.

  

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 (c) The Issuing Entity may change the percentage set forth in subsection
2.02(a)(i)(2)(x), above, or the formula set forth in clause (a) above, without the consent of any Noteholder so long as the Issuing Entity has (i) received written confirmation from each Note Rating Agency that has rated any Outstanding
Notes that the change in either of such percentages or formulas, as applicable, will not result in a Ratings Effect with respect to any Outstanding Notes and (ii) delivered to the Indenture Trustee and the Note Rating Agencies a Master Trust
Tax Opinion and an Issuing Entity Tax Opinion. 
 Section 2.03 Interest Payment. (a) For each Interest Payment Date, the amount
of interest due with respect to the Class B(2008-2) Notes shall be an amount equal to the product of (i) (A) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is
360, times (B) the Note Interest Rate in effect with respect to the related Interest Period, times (ii) the Outstanding Dollar Principal Amount of the Class B(2008-2) Notes determined as of the close of business on the
Interest Payment Date preceding the related Note Transfer Date for the Class B(2008-2) Notes; provided, however, that for the first Interest Payment Date, the amount of interest due with respect to the Class B(2008-2) Notes shall be an
amount equal to the product of (x) the Outstanding Dollar Principal Amount of the Class B(2008-2) Notes on the Issuance Date, (y) 19 divided by 360 and (z) the Note Interest Rate in effect with respect to the Class B(2008-2) Notes
determined on August 25, 2008. Interest on the Class B(2008-2) Notes will be calculated on the basis of the actual number of days elapsed and a 360-day year. 
 (b) Pursuant to Section 3.03 of the Indenture Supplement, on each Note Transfer Date with respect to the Class B(2008-2) Notes, the
Indenture Trustee shall deposit into the Class B(2008-2) Interest Funding Sub-Account the portion of CHASEseries Available Finance Charge Collections allocable to the Class B(2008-2) Notes. 
 Section 2.04 Calculation Agent; Determination of LIBOR. 
 (a) The Issuing Entity hereby agrees that for so long as any Class B(2008-2) Notes are Outstanding, there shall at all times be an agent
appointed to calculate LIBOR for each Interest Period (the “Calculation Agent”). The Issuing Entity hereby initially appoints the Indenture Trustee as the Calculation Agent for purposes of determining LIBOR for each Interest Period. The
Calculation Agent may be removed by the Issuing Entity at any time. If the Calculation Agent is unable or unwilling to act as such or is removed by the Issuing Entity, or if the Calculation Agent fails to determine LIBOR for an Interest Period, the
Issuing Entity shall promptly appoint a replacement Calculation Agent that does not control or is not controlled by or under common control with the Issuing Entity or its Affiliates. The Calculation Agent may not resign its duties, and the Issuing
Entity may not remove the Calculation Agent, without a successor having been duly appointed. 
 (b) On each LIBOR
Determination Date, the Calculation Agent shall determine LIBOR on the basis of the rate for deposits in United States dollars for a one-month period which appears on Reuters Screen LIBOR01 Page or on such comparable system as is customarily used to
quote LIBOR as of 11:00 a.m., London time, on such date. If such rate does not appear on Reuters Screen LIBOR01 Page or on a comparable system as is customarily used to quote LIBOR the rate for that LIBOR Determination Date shall be determined on
the basis of 

  

 7 

 
the rates at which deposits in United States dollars are offered by the Reference Banks at approximately 11:00 a.m., London time, on that day to prime banks
in the London interbank market for a one-month period. The Calculation Agent shall request the principal London office of each of the Reference Banks to provide a quotation of its rate. If at least two such quotations are provided, the rate for that
LIBOR Determination Date shall be the arithmetic mean of the quotations. If fewer than two quotations are provided as requested, the rate for that LIBOR Determination Date will be the arithmetic mean of the rates quoted by major banks in New York
City, selected by the Beneficiary, at approximately 11:00 a.m., New York City time, on that day for loans in United States dollars to leading European banks for a one-month period. 
 (c) The Note Interest Rate applicable to the then current and the immediately preceding Interest Periods may be obtained by telephoning
the Indenture Trustee at its corporate trust office at (612) 667-8058 or such other telephone number as shall be designated by the Indenture Trustee for such purpose by prior written notice by the Indenture Trustee to each Noteholder from time
to time. 
 (d) On each LIBOR Determination Date, the Calculation Agent shall send to the Indenture Trustee and the
Beneficiary, via email or by facsimile transmission, notification of LIBOR for the following Interest Period. 
 Section 2.05 Payments of
Interest and Principal. 
 (a) Any installment of interest or principal payable on any Class B(2008-2) Note which is
punctually paid or duly provided for by the Issuing Entity and the Indenture Trustee on the applicable Interest Payment Date or Principal Payment Date shall be paid by the Paying Agent to the Person in whose name such Class B(2008-2) Note (or one or
more Predecessor Notes) is registered on the Record Date, by wire transfer of immediately available funds to such Person’s account as has been designated by written instructions received by the Paying Agent from such Person not later than the
close of business on the third Business Day preceding the date of payment or, if no such account has been so designated, by check mailed first-class, postage prepaid to such Person’s address as it appears on the Note Register on such Record
Date, except that with respect to Notes registered on the Record Date in the name of the nominee of Cede & Co., payment shall be made by wire transfer in immediately available funds to the account designated by such nominee. 
 (b) The right of the Class B(2008-2) Noteholders to receive payments from the Issuing Entity will terminate on the first Business Day
following the Class B(2008-2) Termination Date. 
 Section 2.06 Form of Delivery of Class B(2008-2) Notes; Depository; Denominations.

 (a) The Class B(2008-2) Notes, together with the Indenture Trustee’s certificate of authentication, shall be in
substantially the form set forth in Exhibit A. The terms of Class B(2008-2) Notes set forth in Exhibit A are part of the terms of this Terms Document. 
 (b) The Class B(2008-2) Notes shall initially be issued in definitive, fully registered, certificated form and shall initially be retained by and registered in the name of 

  

 8 

 
the Bank. In the event any Class B(2008-2) Note is Transferred in an Exempt Transaction, such Class B(2008-2) Note may be issued either in the form of a
global Registered Note as provided in Sections 2.02 and 3.01(i) of the Indenture, respectively, or in definitive, fully registered, certificated form, as applicable, and shall initially be registered in the name of the beneficial owner as listed in
the Note Register. If, however, any Class B(2008-2) Note is Transferred pursuant to an effective registration under the Securities Act and applicable state securities or “blue sky” laws, such Class B(2008-2) Note shall be issued in the
form of a global Registered Note as provided in Sections 2.02 and 3.01(i) of the Indenture, respectively. The Depository for any Class B(2008-2) Notes issued as global Registered Notes shall be The Depository Trust Company, with each such Class
B(2008-2) Note being registered in the name of Cede & Co., its nominee. 
 (c) The Class B(2008-2) Notes
(i) initially issued to and retained by the Bank and any Class B(2008-2) Notes Transferred in an Exempt Transaction will be issued in minimum denominations of $250,000 and integral multiples of $1,000 in excess of that amount and
(ii) Transferred pursuant to an effective registration statement will be issued in minimum denominations of $1,000 and integral multiples of that amount. 
 Section 2.07 Delivery and Payment for the Class B(2008-2) Notes. The Issuing Entity shall execute and deliver the Class B(2008-2) Notes to the Indenture Trustee for authentication, and the Indenture Trustee
shall deliver the Class B(2008-2) Notes when authenticated, each in accordance with Section 3.03 of the Indenture. 
 Section 2.08
Supplemental Indenture. The Issuing Entity may enter into a supplemental indenture with respect to the Class B(2008-2) Notes as provided in Section 9.01 of the Indenture; provided, however, that any supplemental indenture
which provides for an additional or alternative form of credit enhancement for the Class B(2008-2) Notes shall, in addition to the requirements set forth in Section 9.01 of the Indenture, require confirmation from the Note Rating Agencies that
have rated any Outstanding Notes of the CHASEseries that such change in credit enhancement will not result in a Ratings Effect with respect to any Outstanding Notes of the CHASEseries. 
 [END OF ARTICLE II] 
  

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 ARTICLE III 
 RESTRICTIONS ON TRANSFER OF THE CLASS B(2008-2) NOTES 
 Section 3.01 Private Placement of
the Class B(2008-2) Notes. 
 (a) The Class B(2008-2) Notes have not been registered under the Securities Act, or any
state securities or blue sky law. No Transfer of any Class B(2008-2) Note shall be made except either (i) pursuant to an effective registration under the Securities Act and applicable state securities or “blue sky” laws or
(ii) in an Exempt Transaction. The Class B(2008-2) Notes initially purchased by the Bank and any Class B(2008-2) Notes Transferred in an Exempt Transaction shall bear a legend to the effect set forth in subsection (b) below. None of the
Issuing Entity, the Transfer Agent and Note Registrar, the Owner Trustee or the Indenture Trustee is obligated to register the Class B(2008-2) Notes under the Securities Act or any other securities or “blue sky” law or to take any other
action not otherwise required under this Terms Document, the Indenture, the Indenture Supplement, the Asset Pool Supplement or the Transfer and Servicing Agreement to permit the Transfer of Class B(2008-2) Notes without registration or as described
above; provided however that in connection with any Transfer of a Class B(2008-2) Note, the Bank may, in its sole discretion, register the Class B(2008-2) Notes under the Securities Act or any other securities or “blue sky” law.

 (b) Each Class B(2008-2) Note (i) initially issued to the Bank or (ii) Transferred in an Exempt Transaction shall
bear a restrictive legend to the following effect: 
 THIS NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS NOTE, AGREES THAT THIS NOTE, OR ANY INTEREST OR PARTICIPATION HEREIN, MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN
COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE PROVISIONS OF ANY STATE BLUE SKY OR SECURITIES LAWS OR PURSUANT TO AN AVAILABLE EXEMPTION FROM SUCH PROVISIONS. 
 Section 3.02 Transfer of the Class B(2008-2) Notes. 
 (a) Transfer of the Class
B(2008-2) Notes Pursuant to an Effective Registration under the Securities Act with a Class B(2008-2) Tax Opinion. If, at the time of any proposed Transfer of the Class B(2008-2) Notes by the Bank, as initial holder of the Class B(2008-2) Notes,
the Class B(2008-2) Notes have been registered under the Securities Act and a Class B(2008-2) Tax Opinion is rendered, then the proposed Transfer will not be subject to any additional restrictions with respect to such Transfer or its proposed
transferee. With respect to any such Transfer, the Class B(2008-2) Note shall be transferred for a global Registered Note which shall bear a legend to the following effect: 
 UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUING
ENTITY OR ITS AGENT FOR 

  

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REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR TO 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 CHASE ISSUANCE TRUST, THE FIRST USA CREDIT CARD MASTER TRUST OR THE CHASE CREDIT CARD MASTER TRUST, OR JOIN IN ANY INSTITUTION AGAINST THE CHASE ISSUANCE
TRUST, THE FIRST USA CREDIT CARD MASTER TRUST OR THE CHASE CREDIT CARD MASTER TRUST, IN, ANY BANKRUPTCY PROCEEDINGS UNDER ANY UNITED STATES FEDERAL OR STATE BANKRUPTCY OR SIMILAR LAW IN CONNECTION WITH ANY OBLIGATIONS RELATING TO THE NOTES OR THE
INDENTURE. 
 THE HOLDER OF THIS NOTE, BY ACCEPTANCE OF THIS NOTE, AND EACH HOLDER OF A BENEFICIAL INTEREST IN THIS NOTE, BY THE ACQUISITION
OF A BENEFICIAL INTEREST THEREIN, AGREE TO TREAT THE NOTES AS INDEBTEDNESS OF CHASE BANK USA, NATIONAL ASSOCIATION FOR APPLICABLE FEDERAL, STATE, AND LOCAL INCOME AND FRANCHISE TAX LAW AND FOR PURPOSES OF ANY OTHER TAX IMPOSED ON OR MEASURED BY
INCOME. 
 (b) Transfer of the Class B(2008-2) Notes in an Exempt Transaction with a Class B(2008-2) Tax Opinion. If,
at the time of any proposed Transfer of the Class B(2008-2) Notes in an Exempt Transaction, a Class B(2008-2) Tax Opinion is rendered, then such Transfer shall be made in compliance with the restrictions set forth in this subsection 3.02(b)
(including the applicable legends to be set forth on the face of the Class B(2008-2) Notes as provided in Exhibit A) (1) to a Person (A)(x) who the Issuing Entity reasonably believes is a QIB or (y) only in connection with an initial
Transfer by the Bank of Class B(2008-2) Notes, who is an “Accredited Investor” as defined in Rule 501(a)(1)(2)(3) or (7) of Regulation D (“Regulation D”) under the Securities Act, and (B) that is aware that the resale
or other transfer is being made in reliance on Rule 144A or (2) in an offshore transaction in accordance with Rule 903 or Rule 904 of Regulation S (“Regulation S”) under the Securities Act. Each Eligible Purchaser who becomes a Holder
of a Class B(2008-2) Note in connection with an Exempt Transaction, by its acceptance of such Class B(2008-2) Note, will, in the case of a global Registered Note, be deemed to have acknowledged, represented to and agreed with the Issuing Entity and
the Bank (and in the case of a certificated Class B(2008-2) note will be required to provide a certificate acknowledging, representing to and agreeing with the Issuing Entity and the Bank) as follows: 
 (i) It understands and acknowledges that the Class B(2008-2) Notes may only be Transferred (A) in the United States to QIBs pursuant
to Rule 144A, or (B) outside the United States pursuant to Regulation S. 
  

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 (ii) It understands that the Class B(2008-2) Notes have not been and will not be
registered under the Securities Act or any state or other applicable securities law and that the Class B(2008-2) Notes, or any interest or participation therein, may not be Transferred unless registered pursuant to, or exempt from registration
under, the Securities Act and any other applicable securities law. 
 (iii) It has had access to such financial and other
information concerning the Issuing Entity, the Bank and the Class B(2008-2) Notes as it has deemed necessary in connection with its decision to purchase the Class B(2008-2) Notes. 
 (iv) It acknowledges that the Class B(2008-2) Notes will bear legends to the following effect unless the Issuing Entity determines
otherwise, consistent with applicable law: 
 “THIS NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS NOTE, AGREES THAT THIS NOTE, OR ANY INTEREST OR PARTICIPATION HEREIN, MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN
COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE PROVISIONS OF ANY STATE BLUE SKY OR SECURITIES LAWS OR PURSUANT TO AN AVAILABLE EXEMPTION FROM SUCH PROVISIONS AND ONLY (1) TO THE ISSUING ENTITY, (2) PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT (A “QIB”) PURCHASING FOR ITS OWN ACCOUNT OR A QIB PURCHASING FOR THE ACCOUNT OF A
QIB, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (3) IN THE CASE OF INITIAL TRANSFERS ONLY, PURSUANT TO SECTION 4(2) UNDER THE SECURITIES ACT TO A PERSON
THAT THE HOLDER REASONABLY BELIEVES IS AN ACCREDITED INVESTOR WITHIN THE MEANING OF RULE 501(a)(1)(2)(3) or (7) OF REGULATION D (“REGULATION D”) UNDER THE SECURITIES ACT (AN “ACCREDITED INVESTOR”) PURCHASING FOR ITS OWN
ACCOUNT OR AN ACCREDITED INVESTOR PURCHASING FOR THE ACCOUNT OF AN ACCREDITED INVESTOR, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 501(a)(1)(2)(3) or (7) OF
REGULATION D OR (4) IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT. EACH NOTE OWNER BY ACCEPTING A BENEFICIAL INTEREST IN THIS NOTE PURSUANT TO CLAUSE (2) ABOVE, IS DEEMED TO
REPRESENT THAT IT IS EITHER A QIB PURCHASING FOR ITS OWN ACCOUNT OR A QIB PURCHASING FOR THE ACCOUNT OF ANOTHER QIB. 
  

 12 

 THIS NOTE IS SUBJECT TO ADDITIONAL RESTRICTIONS ON RESALE OR TRANSFER SET FORTH IN THE CLASS B(2008-2)
TERMS DOCUMENT (AS HEREINAFTER DEFINED). 
 PRIOR TO PURCHASING ANY NOTES, PURCHASERS SHOULD CONSULT COUNSEL WITH RESPECT TO THE AVAILABILITY
AND CONDITIONS OF EXEMPTION FROM THE RESTRICTION ON RESALE OR TRANSFER. THE ISSUING ENTITY HAS NOT AGREED TO REGISTER THE NOTES UNDER THE SECURITIES ACT, TO QUALIFY THE NOTES UNDER THE SECURITIES LAWS OF ANY STATE OR TO PROVIDE REGISTRATION RIGHTS
TO ANY PURCHASER. 
 AS SET FORTH HEREIN, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE
FACE HEREOF.” 
 (v) If it is acquiring any Class B(2008-2) Note, or any interest or participation therein, as a
fiduciary or agent for one or more investor accounts, it represents that it has sole investment discretion with respect to such account and that it has full power to make the acknowledgements, representations and agreements contained herein on
behalf of each such account. 
 (vi) It (A)(x) is a QIB, (y) is aware that the sale to it is being made in reliance on
Rule 144A and if it is acquiring such Class B(2008-2) Notes or any interest or participation therein for the account of another QIB, such QIB is aware that the sale is being made in reliance on Rule 144A and (z) is acquiring such Class
B(2008-2) Notes or any interest or participation therein for its own account or for the account of a QIB, (B) in the case of initial Transfers only (x) is an Accredited Investor, (y) is aware that the sale to it is being made in
reliance on Section 4(2) under the Securities Act and if it is acquiring such Class B(2008-2) Notes or any interest or participation therein for the account of another Accredited Investor, such Accredited Investor is aware that the sale is
being made in reliance on Section 4(2) under the Securities Act and (z) is acquiring such Class B(2008-2) Notes or any interest or participation therein for its own account or for the account of an Accredited Investor, or (C) is not a
U.S. Person (as defined in Regulation S) and is purchasing such Class B(2008-2) Notes or any interest or participation therein in an offshore transaction pursuant to Regulation S. 
 (vii) It is purchasing the Class B(2008-2) Notes for its own account, or for one or more investor accounts for which it is acting as
fiduciary or agent, in each case for investment, and not with a view to, or for offer or sale in connection with, any distribution thereof in violation of the Securities Act, subject to any requirements of law that the disposition of its property or
the property of such investor account or accounts be at all times within its or their control and subject to its or their ability to resell such Class B(2008-2) Notes, or any interest or participation therein pursuant to the provisions of this Terms
Agreement. 
  

 13 

 (viii) It agrees that if in the future it should offer, sell or otherwise transfer such
Class B(2008-2) Note or any interest or participation therein, it will do so only (A) to the Issuing Entity, (B) pursuant to Rule 144A to a person who it reasonably believes is a QIB in a transaction meeting the requirements of Rule 144A,
purchasing for its own account or for the account of a QIB, whom it has informed that such offer, sale or other transfer is being made in reliance on Rule 144A or (C) in an offshore transaction meeting the requirements of Rule 903 or Rule 904
of Regulation S under the Securities Act. 
 (ix) If it is acquiring such Class B(2008-2) Note or any interest or
participation therein in an offshore transaction (as defined in Regulation S), it acknowledges that the Class B(2008-2) Notes will be represented in the form of a global Registered Note as provided in Sections 2.02 and 3.01(i) of the Indenture,
respectively or in definitive, fully registered, certificated form, as applicable, and that transfers thereof or any interest or participation therein are restricted as set forth in this Terms Agreement. If it is a QIB, it acknowledges that the
Class B(2008-2) Notes offered in reliance on Rule 144A will be represented in the form of a global Registered Note as provided in Sections 2.02 and 3.01(i) of the Indenture, respectively or in definitive, fully registered, certificated form, as
applicable, and that transfers thereof or any interest or participation therein are restricted as set forth in this Terms Agreement. 
 (x) It acknowledges that the Issuing Entity, the Indenture Trustee, the Bank and others will rely on the truth and accuracy of the foregoing acknowledgments, representations and agreements, and agrees that if any of the foregoing
acknowledgments, representations and agreements deemed to have been made by it are no longer accurate, it shall promptly notify the Issuing Entity, the Owner Trust, and the Bank. 
 (xi) With respect to any foreign purchaser claiming an exemption from United States income or withholding tax, it shall have delivered to
the Indenture Trustee a true and complete Form W-8, Form 1001 or Form 4224 or such equivalent form then in effect, indicating such exemption. 
 (xii) It acknowledges that transfers of the Class B(2008-2) Notes or any interest or participation therein shall be subject in all respects to the restrictions applicable thereto contained in this Terms Agreement.

 (c) Transfer of the Class B(2008-2) Notes in an Exempt Transaction without a Class B(2008-2) Tax Opinion. If, at the
time of any proposed Transfer of the Class B(2008-2) Notes in an Exempt Transaction by the Bank, as initial holder of the Class B(2008-2) Notes, a Class B(2008-2) Tax Opinion has not been rendered, then the Transfer restrictions described in
subsection 3.02(b)(i) through (iii) and (v) through (xii) (other than clause (iv)), in addition to the restrictions set forth below, will govern. Each Eligible Purchaser who becomes a Holder of a Class B(2008-2) Note, in connection
with an Exempt Transaction for which a Class B(2008-2) Tax Opinion has not been rendered, by its acceptance of such Class B(2008-2) Note, will be required to execute a certificate addressed to the Issuing Entity and the Bank in the form 

  

 14 

 
of Exhibit B attached hereto acknowledging and representing and agreeing to the restriction described in subsection (b)(i) through (iii) and
(v) through (xii) and as follows: 
 (i) Unless a Class B(2008-2) Tax Opinion is rendered, no portion of the Class
B(2008-2) Notes or any interest therein may be Transferred in an Exempt Transaction except in accordance with this subsection 3.02(c). No portion of the Class B(2008-2) Notes or any interest therein may be Transferred in an Exempt Transaction,
unless the Indenture Trustee has received an Issuing Entity Tax Opinion with respect to such Transfer. 
 (ii) Any attempted
Transfer of a Class B(2008-2) Note that would cause the number of Targeted Holders to exceed ninety-five shall be void. 
 (iii) Such Eligible Purchaser is, for federal income tax purposes, either (1) a citizen or resident of the United States, (2) a corporation or partnership organized in or under the laws of the United States or any state or the
District of Columbia which, if such entity is a tax exempt entity, recognizes that payments with respect to the Class B(2008-2) Notes may constitute unrelated business taxable income, (3) an estate the income of which is includible in gross
income for U.S. federal income tax purposes regardless of its source, or (4) (a) a trust for which a court within the United States is able to exercise primary supervision over its administration and for which one or more persons described
in this paragraph are able to control all substantial decisions or (b) a trust for which a valid election has been made to be treated as an United States person. Such Eligible Purchaser also shall agree that it will furnish to the Person from
whom it is acquiring any interest in the Class B(2008-2) Notes and the Indenture Trustee, a properly executed U.S. Internal Revenue Service Form W 9 (and will agree to furnish a new Form W 9, or any successor applicable form, upon the expiration or
obsolescence of any previously delivered form) and such other certifications, representations or Opinions of Counsel as may be requested by the Indenture Trustee. 
 (iv) Such Eligible Purchaser has not acquired and will not Transfer any interest in the Class B(2008-2) Notes or cause an interest in the
Class B(2008-2) Notes to be marketed, on or through an “established securities market” within the meaning of Section 7704(b)(1) of the Code and any Treasury regulations thereunder, including, without limitation, an over the counter
market or an interdealer quotation system that regularly disseminates firm buy or sell quotations. In addition, such Eligible Purchaser shall certify to the Issuing Entity and the Indenture Trustee, prior to any delivery or Transfer to it of any
Class B(2008-2) Notes, (1) that it is not and will not become (and that, if it is disregarded as an entity separate from its owner within the meaning of Treasury Regulations Section 301.7701-3(a) (a “DRE”), its owner is
not and will not become), for so long as the Eligible Purchaser holds an interest in the Class B(2008-2) Notes, a partnership, Subchapter S corporation or grantor trust for U.S. federal income tax purposes (a “Flow-Thru Entity”), or
(2) that if the Eligible 

  

 15 

 
Purchaser (or, if the Eligible Purchaser is a DRE, its owner) is, or becomes, a Flow-Thru Entity, for so long as the Eligible Purchaser (or, if the Eligible
Purchaser is a DRE, its owner) is a Flow-Thru Entity and the Eligible Purchaser holds an interest in the Class B(2008-2) Notes, not more than 50% of the value of any interests in such Eligible Purchaser (or, if the Eligible Purchaser is a DRE, its
owner) will be attributable to interests in the Issuing Entity held by such Eligible Purchaser. Such Eligible Purchaser of an interest in the Class B(2008-2) Notes acknowledges that the Opinion of Counsel to the effect that the Issuing Entity will
not be treated as an association or publicly traded partnership taxable as a corporation is dependent in part on the accuracy of its certifications described in this subsection 3.02(c). 
 (v) Any request for registration of Transfer of all or any portion of the Class B(2008-2) Notes in an Exempt Transaction pursuant to this
subsection 3.02(c) shall be made at the office of the Indenture Trustee, as Transfer Agent and Note Registrar. Only upon receipt by the Indenture Trustee of the written consent of the Issuing Entity to such Transfer shall the Class B(2008-2) Notes
(or such portion thereof) be transferred upon the Note Register; provided, however, that such consent shall only be withheld based upon the reasonable belief of the Issuing Entity that such Transfer may cause the number of Targeted
Holders to exceed ninety-five. Such Transfers of all or any portion of the Class B(2008-2) Notes shall be subject to the restrictions set forth in this subsection 3.02(c). Successive registrations and registrations of Transfers as aforesaid may be
made from time to time as desired, and each such registration shall be noted on the Note Register. 
 (vi) No portion of the
Class B(2008-2) Notes or any interest therein may be Transferred in an Exempt Transaction to (a) an “employee benefit plan” (as defined in Section 3(3) of ERISA), including governmental plans and church plans, (b) any
“plan” (as defined in Section 4975(e)(1) of the Code) including individual retirement accounts and Keogh plans, or (c) any other entity whose underlying assets include “plan assets” (within the meaning of Department of
Labor Regulation Section 2510.3 101, 29 C.F.R. § 2510.3 101 or otherwise under ERISA) by reason of a plan’s investment in the entity, including, without limitation, an insurance company general account. 
 (vii) It acknowledges that the Class B(2008-2) Notes will bear legends to the following effect unless the Issuing Entity determines
otherwise, consistent with applicable law: 
 “THIS NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS NOTE, AGREES THAT THIS NOTE, OR ANY INTEREST OR PARTICIPATION HEREIN, MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN
COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS AND ONLY (1) TO THE ISSUING ENTITY, (2) PURSUANT TO RULE 144A UNDER THE 

  

 16 

 
SECURITIES ACT TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT (A
“QIB”) PURCHASING FOR ITS OWN ACCOUNT OR A QIB PURCHASING FOR THE ACCOUNT OF A QIB, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A OR (3) IN THE
CASE OF INITIAL TRANSFERS ONLY, PURSUANT TO SECTION 4(2) UNDER THE SECURITIES ACT TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS AN ACCREDITED INVESTOR WITHIN THE MEANING OF RULE 501(a)(1)(2)(3) or (7) OF REGULATION D (“REGULATION
D”) UNDER THE SECURITIES ACT (AN “ACCREDITED INVESTOR”) PURCHASING FOR ITS OWN ACCOUNT OR AN ACCREDITED INVESTOR PURCHASING FOR THE ACCOUNT OF AN ACCREDITED INVESTOR, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER,
RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 501(a)(1)(2)(3) or (7) OF REGULATION D. EACH NOTE OWNER BY ACCEPTING A BENEFICIAL INTEREST IN THIS NOTE PURSUANT TO CLAUSE (2) ABOVE, IS DEEMED TO REPRESENT THAT IT IS
EITHER A QIB PURCHASING FOR ITS OWN ACCOUNT OR A QIB PURCHASING FOR THE ACCOUNT OF ANOTHER QIB. 
 PRIOR TO PURCHASING ANY NOTES, PURCHASERS
SHOULD CONSULT COUNSEL WITH RESPECT TO THE AVAILABILITY AND CONDITIONS OF EXEMPTION FROM THE RESTRICTION ON RESALE OR TRANSFER. THE ISSUING ENTITY HAS NOT AGREED TO REGISTER THE NOTES UNDER THE SECURITIES ACT, TO QUALIFY THE NOTES UNDER THE
SECURITIES LAWS OF ANY STATE OR TO PROVIDE REGISTRATION RIGHTS TO ANY PURCHASER. 
 AS SET FORTH HEREIN, THE OUTSTANDING PRINCIPAL AMOUNT OF
THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF. 
 THIS NOTE IS SUBJECT TO ADDITIONAL RESTRICTIONS ON RESALE OR
TRANSFER SET FORTH IN THE CLASS B(2008-2) TERMS DOCUMENT (AS HEREINAFTER DEFINED). THIS NOTE MAY NOT BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHOUT THE PRIOR WRITTEN CONSENT OF THE ISSUING ENTITY. 
 THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF COVENANTS AND AGREES THAT IT WILL NOT AT ANY TIME INSTITUTE AGAINST THE CHASE ISSUANCE TRUST, THE FIRST
USA CREDIT CARD MASTER TRUST OR THE CHASE CREDIT CARD MASTER TRUST, OR JOIN IN ANY INSTITUTION AGAINST THE CHASE ISSUANCE TRUST, THE FIRST USA CREDIT CARD MASTER TRUST OR THE CHASE CREDIT CARD MASTER TRUST, IN, ANY BANKRUPTCY PROCEEDINGS UNDER ANY
UNITED STATES FEDERAL OR STATE BANKRUPTCY OR SIMILAR LAW IN CONNECTION WITH ANY OBLIGATIONS RELATING TO THE NOTES OR THE INDENTURE. 
  

 17 

 THE HOLDER OF THIS NOTE, BY ACCEPTANCE OF THIS NOTE, AND EACH HOLDER OF A BENEFICIAL INTEREST IN THIS
NOTE, BY THE ACQUISITION OF A BENEFICIAL INTEREST THEREIN, AGREE TO TREAT THE NOTES AS INDEBTEDNESS OF CHASE BANK USA, NATIONAL ASSOCIATION FOR APPLICABLE FEDERAL, STATE, AND LOCAL INCOME AND FRANCHISE TAX LAW AND FOR PURPOSES OF ANY OTHER TAX
IMPOSED ON OR MEASURED BY INCOME. 
 EACH PURCHASER OR HOLDER REPRESENTS AND WARRANTS FOR THE BENEFIT OF THE ISSUING ENTITY AND THE INDENTURE
TRUSTEE THAT SUCH PURCHASER OR HOLDER IS NOT (A) AN “EMPLOYEE BENEFIT PLAN” (AS DEFINED IN SECTION 3(3) OF ERISA), INCLUDING GOVERNMENTAL PLANS AND CHURCH PLANS, (B) ANY “PLAN” (AS DEFINED IN SECTION 4975(E)(1) OF THE
CODE) INCLUDING INDIVIDUAL RETIREMENT ACCOUNTS AND KEOGH PLANS, OR (C) ANY OTHER ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” (WITHIN THE MEANING OF DEPARTMENT OF LABOR REGULATION SECTION 2510.3 101, 29 C.F.R. § 2510.3
101 OR OTHERWISE UNDER ERISA) BY REASON OF A PLAN’S INVESTMENT IN THE ENTITY, INCLUDING, WITHOUT LIMITATION, AN INSURANCE COMPANY GENERAL ACCOUNT.” 
 The Issuing Entity will facilitate any Transfer of the Class B(2008-2) Notes consistent with the requirements of this Section 3.02, including assisting in the determination as to whether the number of
Targeted Holders would exceed ninety-five. 
 Any transfer, resale, pledge or other transfer of the Class B(2008-2) Notes contrary to the
restrictions set forth in this Section 3.02 and in this Terms Agreement shall be deemed void ab initio by the Indenture Trustee. As used in this Section 3.02, the terms “United States” and “U.S. persons” have the
meaning given them in Regulation S. 
 [END OF ARTICLE III] 
  

 18 

 ARTICLE IV 
 MISCELLANEOUS PROVISION 
 Section 4.01 Amendments. Notwithstanding anything to the
contrary contained herein, each Class B(2008-2) Note and this Terms Document may be amended or supplemented to modify the restrictions on and procedures for Transfer of the Class B(2008-2) Notes to reflect any change in applicable law or regulation
(or the interpretation thereof) or in practices relating to the Transfer of restricted securities generally. Each Noteholder shall by its acceptance of such Class B(2008-2) Note, have agreed to any such amendment or supplement. 
 [END OF ARTICLE IV] 
  

 19 

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

					
	CHASE ISSUANCE TRUST
		
	By:	 	 CHASE BANK USA,
 NATIONAL
ASSOCIATION,
 as Beneficiary and not in its individual capacity

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

		
	By:	 	/s/ Cheryl C. Zimmerman
		 	Name:	 	Cheryl C. Zimmerman
		 	Title:	 	Vice President

 Chase Issuance Trust 
 CHASEseries Class B(2008-2) Terms Document 
 Signature Page 
  

 20 

 EXHIBIT A 
 FORM OF CLASS B NOTE 
 I. Legends to be applied with respect to the initial Class B(2008-2) Note issued to the
Bank: 
 THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF COVENANTS AND AGREES THAT IT WILL NOT AT ANY TIME INSTITUTE AGAINST THE CHASE ISSUANCE
TRUST, THE FIRST USA CREDIT CARD MASTER TRUST OR THE CHASE CREDIT CARD MASTER TRUST, OR JOIN IN ANY INSTITUTION AGAINST THE CHASE ISSUANCE TRUST, THE FIRST USA CREDIT CARD MASTER TRUST OR THE CHASE CREDIT CARD MASTER TRUST, IN, ANY BANKRUPTCY
PROCEEDINGS UNDER ANY UNITED STATES FEDERAL OR STATE BANKRUPTCY OR SIMILAR LAW IN CONNECTION WITH ANY OBLIGATIONS RELATING TO THE NOTES OR THE INDENTURE. 
 THIS NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS NOTE, AGREES THAT THIS NOTE, OR ANY INTEREST
OR PARTICIPATION HEREIN, MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS AND ONLY (1) TO THE ISSUING ENTITY, (2) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT
TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT (A “QIB”) PURCHASING FOR ITS OWN ACCOUNT OR A QIB PURCHASING FOR THE ACCOUNT OF A QIB, WHOM THE
HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (3) IN THE CASE OF INITIAL TRANSFERS ONLY, PURSUANT TO SECTION 4(2) UNDER THE SECURITIES ACT TO A PERSON THAT THE
HOLDER REASONABLY BELIEVES IS AN ACCREDITED INVESTOR WITHIN THE MEANING OF RULE 501(a)(1)(2)(3) or (7) OF REGULATION D (“REGULATION D”) UNDER THE SECURITIES ACT (AN “ACCREDITED INVESTOR”) PURCHASING FOR ITS OWN ACCOUNT OR AN
ACCREDITED INVESTOR PURCHASING FOR THE ACCOUNT OF AN ACCREDITED INVESTOR, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 501(a)(1)(2)(3) or (7) OF REGULATION D OR
(4) IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 903 

  

 A-1 

 
OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT. EACH NOTE OWNER BY ACCEPTING A BENEFICIAL INTEREST IN THIS NOTE PURSUANT TO CLAUSE (2) ABOVE, IS
DEEMED TO REPRESENT THAT IT IS EITHER A QIB PURCHASING FOR ITS OWN ACCOUNT OR A QIB PURCHASING FOR THE ACCOUNT OF ANOTHER QIB. 
 PRIOR TO PURCHASING ANY
NOTES, PURCHASERS SHOULD CONSULT COUNSEL WITH RESPECT TO THE AVAILABILITY AND CONDITIONS OF EXEMPTION FROM THE RESTRICTION ON RESALE OR TRANSFER. THE ISSUING ENTITY HAS NOT AGREED TO REGISTER THE NOTES UNDER THE SECURITIES ACT, TO QUALIFY THE NOTES
UNDER THE SECURITIES OR BLUE SKY LAWS OF ANY STATE OR TO PROVIDE REGISTRATION RIGHTS TO ANY PURCHASER. 
 AS SET FORTH HEREIN, THE OUTSTANDING PRINCIPAL
AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF. 
  

 A-2 

 II. Legends to be applied with respect to Class B(2008-2) Notes Transferred pursuant to an effective registration
under the Securities Act and a Class B(2008-2) Tax Opinion: 
 THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF COVENANTS AND AGREES THAT IT WILL NOT
AT ANY TIME INSTITUTE AGAINST THE CHASE ISSUANCE TRUST, THE FIRST USA CREDIT CARD MASTER TRUST OR THE CHASE CREDIT CARD MASTER TRUST, OR JOIN IN ANY INSTITUTION AGAINST THE CHASE ISSUANCE TRUST, THE FIRST USA CREDIT CARD MASTER TRUST OR THE CHASE
CREDIT CARD MASTER TRUST, IN, ANY BANKRUPTCY PROCEEDINGS UNDER ANY UNITED STATES FEDERAL OR STATE BANKRUPTCY OR SIMILAR LAW IN CONNECTION WITH ANY OBLIGATIONS RELATING TO THE NOTES OR THE INDENTURE. 
 THE HOLDER OF THIS NOTE, BY ACCEPTANCE OF THIS NOTE, AND EACH HOLDER OF A BENEFICIAL INTEREST IN THIS NOTE, BY THE ACQUISITION OF A BENEFICIAL INTEREST THEREIN, AGREE TO
TREAT THE NOTES AS INDEBTEDNESS OF CHASE BANK USA, NATIONAL ASSOCIATION FOR APPLICABLE FEDERAL, STATE, AND LOCAL INCOME AND FRANCHISE TAX LAW AND FOR PURPOSES OF ANY OTHER TAX IMPOSED ON OR MEASURED BY INCOME. 
 UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUING ENTITY OR ITS
AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR TO 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. 
  

 A-3 

 III. Legends to be applied with respect to Class B(2008-2) Notes Transferred in an Exempt Transaction with a Class
B(2008-2) Tax Opinion: 
 THIS NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS NOTE, AGREES THAT THIS NOTE, OR ANY INTEREST OR PARTICIPATION HEREIN, MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES
ACT AND OTHER APPLICABLE LAWS AND ONLY (1) TO THE ISSUING ENTITY, (2) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A UNDER
THE SECURITIES ACT (A “QIB”) PURCHASING FOR ITS OWN ACCOUNT OR A QIB PURCHASING FOR THE ACCOUNT OF A QIB, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE
144A, (3) IN THE CASE OF INITIAL TRANSFERS ONLY, PURSUANT TO SECTION 4(2) UNDER THE SECURITIES ACT TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS AN ACCREDITED INVESTOR WITHIN THE MEANING OF RULE 501(a)(1)(2)(3) or (7) OF REGULATION D
(“REGULATION D”) UNDER THE SECURITIES ACT (AN “ACCREDITED INVESTOR”) PURCHASING FOR ITS OWN ACCOUNT OR AN ACCREDITED INVESTOR PURCHASING FOR THE ACCOUNT OF AN ACCREDITED INVESTOR, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT
THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 501(a)(1)(2)(3) or (7) OF REGULATION D OR (4) IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT. EACH
NOTE OWNER BY ACCEPTING A BENEFICIAL INTEREST IN THIS NOTE PURSUANT TO CLAUSE (2) ABOVE, IS DEEMED TO REPRESENT THAT IT IS EITHER A QIB PURCHASING FOR ITS OWN ACCOUNT OR A QIB PURCHASING FOR THE ACCOUNT OF ANOTHER QIB. 
 PRIOR TO PURCHASING ANY NOTES, PURCHASERS SHOULD CONSULT COUNSEL WITH RESPECT TO THE AVAILABILITY AND CONDITIONS OF EXEMPTION FROM THE RESTRICTION ON RESALE OR TRANSFER.
THE ISSUING ENTITY HAS NOT AGREED TO REGISTER THE NOTES UNDER THE SECURITIES ACT, TO QUALIFY THE NOTES UNDER THE SECURITIES OR BLUE SKY LAWS OF ANY STATE OR TO PROVIDE REGISTRATION RIGHTS TO ANY PURCHASER. 
  

 A-4 

 AS SET FORTH HEREIN, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE
FACE HEREOF. 
 THIS NOTE IS SUBJECT TO ADDITIONAL RESTRICTIONS ON RESALE OR TRANSFER SET FORTH IN THE CLASS B(2008-2) TERMS DOCUMENT (AS HEREINAFTER
DEFINED). 
 THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF COVENANTS AND AGREES THAT IT WILL NOT AT ANY TIME INSTITUTE AGAINST THE CHASE ISSUANCE TRUST,
THE FIRST USA CREDIT CARD MASTER TRUST OR THE CHASE CREDIT CARD MASTER TRUST, OR JOIN IN ANY INSTITUTION AGAINST THE CHASE ISSUANCE TRUST, THE FIRST USA CREDIT CARD MASTER TRUST OR THE CHASE CREDIT CARD MASTER TRUST, IN, ANY BANKRUPTCY PROCEEDINGS
UNDER ANY UNITED STATES FEDERAL OR STATE BANKRUPTCY OR SIMILAR LAW IN CONNECTION WITH ANY OBLIGATIONS RELATING TO THE NOTES OR THE INDENTURE. 
 THE HOLDER
OF THIS NOTE, BY ACCEPTANCE OF THIS NOTE, AND EACH HOLDER OF A BENEFICIAL INTEREST IN THIS NOTE, BY THE ACQUISITION OF A BENEFICIAL INTEREST THEREIN, AGREE TO TREAT THE NOTES AS INDEBTEDNESS OF CHASE BANK USA, NATIONAL ASSOCIATION 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-5 

 IV. Legends to be applied with respect to Class B(2008-2) Notes Transferred in an Exempt Transaction without a
Class B(2008-2) Tax Opinion: 
 THIS NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS NOTE, AGREES THAT THIS NOTE, OR ANY INTEREST OR PARTICIPATION HEREIN, MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES
ACT AND OTHER APPLICABLE LAWS AND ONLY (1) TO THE ISSUING ENTITY, (2) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A UNDER
THE SECURITIES ACT (A “QIB”) PURCHASING FOR ITS OWN ACCOUNT OR A QIB PURCHASING FOR THE ACCOUNT OF A QIB, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A
OR (3) IN THE CASE OF INITIAL TRANSFERS ONLY, PURSUANT TO SECTION 4(2) UNDER THE SECURITIES ACT TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS AN ACCREDITED INVESTOR WITHIN THE MEANING OF RULE 501(a)(1)(2)(3) or (7) OF REGULATION D
(“REGULATION D”) UNDER THE SECURITIES ACT (AN “ACCREDITED INVESTOR”) PURCHASING FOR ITS OWN ACCOUNT OR AN ACCREDITED INVESTOR PURCHASING FOR THE ACCOUNT OF AN ACCREDITED INVESTOR, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT
THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 501(a)(1)(2)(3) or (7) OF REGULATION D. EACH NOTE OWNER BY ACCEPTING A BENEFICIAL INTEREST IN THIS NOTE PURSUANT TO CLAUSE (2) ABOVE, IS DEEMED TO REPRESENT
THAT IT IS EITHER A QIB PURCHASING FOR ITS OWN ACCOUNT OR A QIB PURCHASING FOR THE ACCOUNT OF ANOTHER QIB. 
 PRIOR TO PURCHASING ANY NOTES, PURCHASERS
SHOULD CONSULT COUNSEL WITH RESPECT TO THE AVAILABILITY AND CONDITIONS OF EXEMPTION FROM THE RESTRICTION ON RESALE OR TRANSFER. THE ISSUING ENTITY HAS NOT AGREED TO REGISTER THE NOTES UNDER THE SECURITIES ACT, TO QUALIFY THE NOTES UNDER THE
SECURITIES OR BLUE SKY LAWS OF ANY STATE OR TO PROVIDE REGISTRATION RIGHTS TO ANY PURCHASER. 
  

 A-6 

 AS SET FORTH HEREIN, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE
FACE HEREOF. 
 THIS NOTE IS SUBJECT TO ADDITIONAL RESTRICTIONS ON RESALE OR TRANSFER SET FORTH IN THE CLASS B(2008-2) TERMS DOCUMENT (AS HEREINAFTER
DEFINED). THIS NOTE MAY NOT BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHOUT THE PRIOR WRITTEN CONSENT OF THE ISSUING ENTITY. 
 THE HOLDER OF
THIS NOTE BY ITS ACCEPTANCE HEREOF COVENANTS AND AGREES THAT IT WILL NOT AT ANY TIME INSTITUTE AGAINST THE CHASE ISSUANCE TRUST, THE FIRST USA CREDIT CARD MASTER TRUST OR THE CHASE CREDIT CARD MASTER TRUST, OR JOIN IN ANY INSTITUTION AGAINST THE
CHASE ISSUANCE TRUST, THE FIRST USA CREDIT CARD MASTER TRUST OR THE CHASE CREDIT CARD MASTER TRUST, IN, ANY BANKRUPTCY PROCEEDINGS UNDER ANY UNITED STATES FEDERAL OR STATE BANKRUPTCY OR SIMILAR LAW IN CONNECTION WITH ANY OBLIGATIONS RELATING TO THE
NOTES OR THE INDENTURE. 
 THE HOLDER OF THIS NOTE, BY ACCEPTANCE OF THIS NOTE, AND EACH HOLDER OF A BENEFICIAL INTEREST IN THIS NOTE, BY THE ACQUISITION OF
A BENEFICIAL INTEREST THEREIN, AGREE TO TREAT THE NOTES AS INDEBTEDNESS OF CHASE BANK USA, NATIONAL ASSOCIATION FOR APPLICABLE FEDERAL, STATE, AND LOCAL INCOME AND FRANCHISE TAX LAW AND FOR PURPOSES OF ANY OTHER TAX IMPOSED ON OR MEASURED BY INCOME.

 EACH PURCHASER OR HOLDER REPRESENTS AND WARRANTS FOR THE BENEFIT OF THE ISSUING ENTITY AND THE INDENTURE TRUSTEE THAT SUCH PURCHASER OR HOLDER IS NOT
(A) AN “EMPLOYEE BENEFIT PLAN” (AS DEFINED IN SECTION 3(3) OF ERISA), INCLUDING GOVERNMENTAL PLANS AND CHURCH PLANS, (B) ANY “PLAN” (AS DEFINED IN SECTION 4975(E)(1) OF THE CODE) INCLUDING INDIVIDUAL RETIREMENT ACCOUNTS
AND KEOGH PLANS, OR (C) ANY OTHER ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” (WITHIN THE MEANING OF DEPARTMENT OF LABOR REGULATION SECTION 2510.3-101, 29 C.F.R. § 2510.3-101 OR OTHERWISE UNDER ERISA) BY REASON OF A
PLAN’S INVESTMENT IN THE ENTITY, INCLUDING, WITHOUT LIMITATION, AN INSURANCE COMPANY GENERAL ACCOUNT. 
  

 A-7 

			
	REGISTERED	  	up to $[            ]
		
	No. R-[ ]	  	CUSIP NO. 161571DC5

 CHASE ISSUANCE TRUST 
 Floating Rate 
 CHASEseries CLASS B(2008-2) NOTE 
 Chase Issuance Trust, a statutory trust created under the laws of the State of Delaware (herein referred to as the “Issuing Entity”), for value
received, hereby promises to pay to CHASE BANK USA, NATIONAL ASSOCIATION, or registered assigns, subject to the following provisions, a principal sum of [            ] payable on
September 15, 2009 (the “Scheduled Principal Payment Date”), except as otherwise provided below or in the Indenture; provided, however, that the entire unpaid principal amount of this Note shall be due and payable on
September 15, 2011 (the “Legal Maturity Date”). Interest will accrue on this Note at the rate of LIBOR plus 2.73% per annum, as more specifically set forth in the Class B(2008-2) Terms Document, dated as of August 27, 2008
(the “Class B(2008-2) Terms Document”), between the Issuing Entity, the Indenture Trustee and the Collateral Agent, and shall be due and payable on each Interest Payment Date from the Monthly Interest Accrual Date in the related Monthly
Period (or, in the case of the first Interest Payment Date, from and including the date of issuance of this Note) to but excluding the first Monthly Interest Accrual Date after the end of that Monthly Period. 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 Issuing Entity 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 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 the Indenture Trustee whose name appears below
by manual signature, this Note shall not be entitled to any benefit under the Indenture referred to on the reverse hereof, or be valid or obligatory for any purpose. 
  

 A-8 

 IN WITNESS WHEREOF, the Issuing Entity has caused this instrument to be signed, manually or in facsimile,
by its Authorized Officer. 
  

							
	CHASE ISSUANCE TRUST, as Issuing Entity
			
		 	By:	 	 CHASE BANK USA,
 NATIONAL ASSOCIATION, not in
its individual capacity but solely as Beneficiary under the Trust Agreement

			
		 	By:	 	 
		 		 	Name:	 	
		 		 	Title:	 	
		
		 	Date: August 27, 2008

 INDENTURE TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
 This is the one of the Notes designated above and referred to in the within-mentioned Indenture. 
  

					
	 WELLS FARGO BANK,
 NATIONAL ASSOCIATION, not
in its individual
 capacity but solely as Indenture Trustee

		
	By:	 	 
		 	Name:	 	
		 	Title:	 	
	
	Date: August 27, 2008

  

 A-9 

 [REVERSE OF NOTE] 
 This Class B Note is one of the Notes of a duly authorized issue of Notes of the Issuing Entity, designated as its “CHASEseries Class B(2008-2) Notes” (herein called the “Notes”), all issued under
an Third Amended and Restated Indenture dated as of December 19, 2007 (such indenture, as supplemented or amended, is herein called the “Indenture”), between the Issuing Entity and Wells Fargo Bank, National Association, as indenture
trustee (the “Indenture Trustee,” which term includes any successor Indenture Trustee under the Indenture), as supplemented by an Second Amended and Restated Asset Pool One Supplement dated as of December 19, 2007 (the “Asset
Pool One Supplement”), an Amended and Restated CHASEseries Indenture Supplement, dated as of October 15, 2004 (the “Indenture Supplement”), and the Class B(2008-2) Terms Document, each between the Issuing Entity and Wells Fargo
Bank, National Association, as Indenture Trustee and collateral agent (the “Collateral Agent”), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations
thereunder of the Issuing Entity, the Indenture Trustee, the Collateral Agent and the Holders of the Notes. The Notes are subject to all 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. 
 Although a summary of
certain provisions of the Indenture is set forth below, this Note is qualified in its entirety by the terms and provisions of the Indenture and reference is made to that Indenture for information with respect to the interests, rights, benefits,
obligations, proceeds and duties evidenced hereby and the rights, duties and obligations of the Indenture Trustee. 
 The Class A Notes
and the Class C Notes will also be issued under the Indenture. 
 The Notes are and will be equally and ratably secured by the collateral
pledged as security therefor as provided in the Indenture and the Asset Pool One Supplement. 
 Principal of this Note will be payable on the
Scheduled Principal Payment Date in an amount described on the face hereof, subject to the provisions of the Indenture. 
 As described
above, the entire unpaid principal amount of this Note shall be due and payable on the Legal Maturity Date. Notwithstanding the foregoing, the entire unpaid principal amount of the Notes shall be due and payable on the date on which an Event of
Default relating solely to the non-payment of interest on the Notes shall have occurred and be continuing and the Indenture Trustee or the Holders of more than 66b% of the Outstanding Dollar Principal Amount of the Notes have declared the Notes to
be immediately due and payable in the manner provided in Section 6.02 of the Indenture; provided, however, that such acceleration of the entire unpaid principal amount of the Notes may be rescinded by the holders of more than 66b%
of the Outstanding Dollar Principal Amount of the Notes. All principal payments on the Notes shall be made pro rata to the Noteholders entitled thereto. 
  

 A-10 

 On any Payment Date on or after the Payment Date on which the aggregate Nominal Liquidation Amount (after
giving effect to all payments on such Payment Date) of any class of Notes is reduced to less than 10% of its highest Outstanding Dollar Principal Amount at any time, the Servicer has the right, but not the obligation, to redeem such class of Notes
in whole but not in part, pursuant to Section 11.02 of the Indenture. The redemption price of such Notes will equal 100% of the Outstanding Dollar Principal Amount of such Tranche plus accrued, unpaid and additional interest or principal
accreted and unpaid on such Tranche to but excluding the date of redemption. 
 Subject to the terms and conditions of the Indenture, the
Issuing Entity may, from time to time, issue one or more series of Notes secured by one or more asset pools. Subject to the terms of the Asset Pool One Supplement, the Issuing Entity may, from time to time, issue one or more series of Notes secured
by Asset Pool One. Subject to the terms and conditions of the Indenture Supplement, the Issuing Entity may, from time to time, issue one or more Tranches of CHASEseries Notes. 
 On each Payment Date, the Paying Agent shall distribute to each Noteholder of record on the related Record Date (except for the final distribution with
respect to this Note) such 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 Notes. Final payments of this Note will be made
only upon presentation and surrender of this Note at the office or offices therein specified. 
 Payments of interest on this Note due and
payable on each Interest Payment Date, together with the installment of principal, if any, due and payable on each Principal Payment Date, to the extent not in full payment of this Note, shall be made by check mailed to the Person whose name appears
as the Registered Holder of this Note (or one or more Predecessor Notes) on the Note Register as of the close of business on each Record Date, except that with respect to Notes registered on the Record Date in the name of the nominee of the clearing
agency (initially, such nominee to be Cede & Co.), as applicable, payments will be made by wire transfer in immediately available funds to the account designated by such nominee. Such checks shall be mailed to the Person entitled thereto at
the address of such Person as it appears on the Note Register as of the applicable Record Date without requiring that this Note be submitted for notation of payment. Any reduction in the principal amount of this Note (or any one or more Predecessor
Notes) effected by any payments made on any Payment Date shall be binding upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If
funds are expected to be available, as provided in the Indenture, for payment in full of the then remaining unpaid principal amount of this Note on a Payment Date, then the Indenture Trustee, in the name of and on behalf of the Issuing Entity, will
notify the Person who was the Registered Holder hereof as of the Record Date preceding such Payment Date by notice mailed within five days of such Payment Date and the amount then due and payable shall be payable only upon presentation and surrender
of this Note at the Indenture Trustee’s principal Corporate Trust Office or at the office of the Indenture Trustee’s agent appointed for such purposes located in the City of New York. On any 

  

 A-11 

 
payment of interest or principal being made, details of such payment shall be entered by the Indenture Trustee on behalf of the Issuing Entity in Schedule A
hereto. 
 As provided in the Indenture and subject to certain limitations set forth therein, the transfer of this Note may be registered on
the Note Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuing Entity pursuant to the Indenture, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory
to the Indenture Trustee duly executed by, the Holder hereof or his attorney duly authorized in writing, with such signature guaranteed by a commercial bank or trust company located, or having a correspondent located, in the City of New York or the
city in which the Corporate Trust Office is located, or a member firm of a national securities exchange, and such other documents as the Indenture Trustee may require, and thereupon one or more new Notes of authorized denominations and in the same
aggregate principal amount will be issued to the designated transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Note, but the Issuing Entity may be required to pay a sum sufficient to
cover any tax or other governmental charge that may be imposed in connection with any such registration of transfer or exchange. 
 Each
Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note covenants and agrees that no recourse may be taken, directly or indirectly, with respect to the obligations of the Issuing Entity, the
Owner Trustee or the Indenture Trustee on the Notes or under the Indenture or any certificate or other writing delivered in connection therewith, against (i) the Indenture Trustee, the Collateral Agent or the Owner Trustee in its individual
capacity, (ii) any owner of a beneficial interest in the Issuing Entity or (iii) any partner, owner, beneficiary, agent, officer, director or employee of the Indenture Trustee, the Collateral Agent or the Owner Trustee in its individual
capacity, any holder of a beneficial interest in the Issuing Entity, the Owner Trustee, the Collateral Agent or the Indenture Trustee or of any successor or assign of the Indenture Trustee, the Collateral Agent or the Owner Trustee in its individual
capacity, except as any such Person may have expressly agreed and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution
or failure to pay any installment or call owing to such entity. 
 Each Noteholder or Note Owner, by acceptance of a Note or, in the case of
a Note Owner, a beneficial interest in a Note, covenants and agrees that by accepting the benefits of the Indenture that such Noteholder will not at any time institute against First USA Credit Card Master Trust, Chase Credit Card Master Trust or the
Issuing Entity, or join with any institution against First USA Credit Card Master Trust, Chase Credit Card Master Trust or the Issuing Entity, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or other proceedings
under any United States Federal or state bankruptcy or similar law in connection with any obligations relating to the Notes, the Indenture, the Asset Pool One Supplement, the CHASEseries Indenture Supplement, the Terms Agreement or any Derivative
Agreement. 
  

 A-12 

 Prior to the due presentment for registration of transfer of this Note, the Issuing Entity, the Indenture
Trustee and any agent of the Issuing Entity or the Indenture Trustee may treat the Person in whose name this Note (as of the day of determination or as of such other date as may be specified in the Indenture) is registered as the owner hereof for
all purposes, whether or not this Note be overdue, and neither the Issuing Entity, the Indenture Trustee nor any such agent shall be affected by notice to the contrary. 
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Issuing Entity and the rights of the Holders of the Notes under the
Indenture at any time by the Issuing Entity with the consent of the Holders of Notes representing more than 66b% of the Outstanding Dollar Principal Amount of the Notes. The Indenture also contains provisions permitting the Holders of Notes
representing specified percentages of the Outstanding Dollar Principal Amount of the Notes, on behalf of the Holders of all the Notes, to waive compliance by the Issuing Entity with certain provisions of the Indenture and certain past defaults under
the Indenture and their consequences. Any such consent or waiver by the Holder of this Note (or any one of more Predecessor Notes) shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon
the registration of transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Indenture Trustee to amend or waive certain terms and conditions set
forth in the Indenture without the consent of Holders of the Notes issued thereunder. 
 The term “Issuing Entity” as used in this
Note includes any successor to the Issuing Entity under the Indenture. 
 The Issuing Entity is permitted by the Indenture, under certain
circumstances, to merge or consolidate, subject to the rights of the Indenture Trustee and the Holders of Notes under the Indenture. 
 The
Notes are issuable only in registered form in denominations as provided in the Indenture, subject to certain limitations therein set forth. 
 THIS NOTE AND THE INDENTURE WILL 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. 
 No reference herein to the Indenture and no provision of this Note or of the
Indenture shall alter or impair the obligation of the Issuing Entity, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place, and rate, and in the coin or currency herein prescribed. 
  

 A-13 

 No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuing Entity
on the Notes or under the Indenture or any certificate or other writing delivered in connection herewith or therewith, against (i) the Owner Trustee in its individual capacity, (ii) any owner of a beneficial interest in the Issuing Entity
or (iii) any partner, owner, beneficiary, agent, officer, director, employee or agent of the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuing Entity or the Owner Trustee or of any successor or assign
of the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed (it being understood that the Owner Trustee has no such obligations in its individual capacity). The Holder of this Note by the acceptance hereof
agrees that, except as expressly provided in the Indenture, the Asset Pool One Supplement, the CHASEseries Indenture Supplement and the Class B(2008-2) Terms Document, in the case of an Event of Default under the Indenture, the Holder shall have no
claim against any of the foregoing for any deficiency, loss or claim therefrom; provided, however, that nothing contained herein shall be taken to prevent recourse to, and enforcement against, the assets of the Issuing Entity for any and all
liabilities, obligations and undertakings contained in the Indenture or in this Note. 
 Notwithstanding the allocation provisions of the
Indenture, the Asset Pool One Supplement, each additional Asset Pool Supplement, the CHASEseries Indenture Supplement and the indenture supplements for each other Series of Notes, if any, to the extent that the CHASEseries Noteholders are deemed to
have any interest in any assets of the Issuing Entity allocated to other Notes, each Noteholder or Note Owner, by acceptance of a Note, or in the case of a Note Owner, a beneficial interest in a Note, shall agree that their interest in those assets
is subordinate to claims or rights of such other Noteholders to those other assets. Further, each Noteholder or Note Owner, by acceptance of a Note, or in the case of a Note Owner, a beneficial interest in a Note, shall agree that such agreement
constitutes a subordination agreement for purposes of Section 510(a) of the Bankruptcy Code. 
  

 A-14 

 ASSIGNMENT 
 Social Security or taxpayer I.D. or other identifying number of assignee 
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers
unto 
 (name and address of assignee) 
 the within Note and all
rights thereunder, and hereby irrevocably constitutes and appoints attorney, to transfer said Note on the books kept for registration thereof, with full power of substitution in the premises. 
 Dated:                     
                                        
                     * 
  
 Signature Guaranteed: 
  

	*	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-15 

 SCHEDULE A 
 PART I 
 INTEREST PAYMENTS 
  

									
	 Interest
 Payment Date
	  	Date of
Payment	  	Total Amount of Interest
Payable	  	Amount of
Interest Paid	  	Confirmation
of payment by
or on behalf
of the Trust
					
		  		  		  		  	
					
		  		  		  		  	
					
		  		  		  		  	
					
		  		  		  		  	
					
		  		  		  		  	
					
		  		  		  		  	

  

 A-16 

 PART II 
 PRINCIPAL PAYMENTS 
  

							
	 Date of
 Payment
	  	Total Amount
Payable	  	Total Amount
Paid	  	Confirmation of
payment by or on
behalf of the Trust
				
		  		  		  	
				
		  		  		  	
				
		  		  		  	
				
		  		  		  	
				
	 Date of Payment
	  	Total Amount
Payable	  	Total Amount
Paid	  	Confirmation of
payment by or on
behalf of the Trust
				
		  		  		  	
				
		  		  		  	
				
		  		  		  	

  
  

 A-172004 Omnibus Incentive Compensation Plan, as amended August 21, 2008

 Exhibit 10.32 
  
  
  
 CALIFORNIA MICRO DEVICES CORPORATION 
 2004 OMNIBUS INCENTIVE COMPENSATION PLAN 
 (As Amended by the Board on August 21, 2008) 
  
  
  

 Table of Contents 
  

					
	 	  	 	  	Page
	SECTION 1.	  	ESTABLISHMENT AND PURPOSE	  	1
			
	SECTION 2.	  	DEFINITIONS	  	1
	 (a)
	  	“Affiliate”	  	1
	 (b)
	  	“Award”	  	1
	 (c)
	  	“Board of Directors”	  	1
	 (d)
	  	“Change in Control”	  	1
	 (e)
	  	“Code”	  	2
	 (f)
	  	“Committee”	  	2
	 (g)
	  	“Company”	  	2
	 (h)
	  	“Consultant”	  	3
	 (i)
	  	“Employee”	  	3
	 (j)
	  	“Exchange Act”	  	3
	 (k)
	  	“Exercise Price”	  	3
	 (l)
	  	“Fair Market Value”	  	3
	 (m)
	  	“ISO”	  	3
	 (n)
	  	“Nonstatutory Option” or “NSO”	  	3
	 (o)
	  	“Offeree”	  	4
	 (p)
	  	“Option”	  	4
	 (q)
	  	“Optionee”	  	4
	 (r)
	  	“Outside Director”	  	4
	 (s)
	  	“Parent”	  	4
	 (t)
	  	“Participant”	  	4
	 (u)
	  	“Plan”	  	4
	 (v)
	  	“Purchase Price”	  	4
	 (w)
	  	“Restricted Share”	  	4
	 (x)
	  	“Restricted Share Agreement”	  	4
	 (y)
	  	“SAR”	  	4
	 (z)
	  	“SAR Agreement”	  	4
	 (aa)
	  	“Service”	  	4
	 (bb)
	  	“Share”	  	4
	 (cc)
	  	“Stock”	  	4
	 (dd)
	  	“Stock Option Agreement”	  	4
	 (ee)
	  	“Stock Unit”	  	5
	 (ff)
	  	“Stock Unit Agreement”	  	5
	 (gg)
	  	“Subsidiary”	  	5
	 (hh)
	  	“Total and Permanent Disability”	  	5
			
	SECTION 3.	  	ADMINISTRATION	  	5
	 (a)
	  	Committee Composition	  	5

  

 CALIFORNIA MICRO DEVICES CORPORATION

 2004 OMNIBUS INCENTIVE COMPENSATION PLAN 
 -i- 

					
	 (b)
	  	Committee for Non-Officer Grants	  	5
	 (c)
	  	Committee Procedures	  	5
	 (d)
	  	Committee Responsibilities	  	6
			
	SECTION 4.	  	ELIGIBILITY	  	7
	 (a)
	  	General Rule	  	7
	 (b)
	  	Automatic Grants to Outside Directors.	  	7
	 (c)
	  	Ten-Percent Stockholders	  	8
	 (d)
	  	Attribution Rules	  	8
	 (e)
	  	Outstanding Stock	  	8
			
	SECTION 5.	  	STOCK SUBJECT TO PLAN	  	8
	 (a)
	  	Basic Limitation	  	8
	 (b)
	  	Individual Award Limitation	  	9
	 (c)
	  	Additional Shares	  	9
			
	SECTION 6.	  	RESTRICTED SHARES	  	9
	 (a)
	  	Restricted Stock Agreement	  	9
	 (b)
	  	Payment for Awards	  	9
	 (c)
	  	Vesting	  	9
	 (d)
	  	Voting and Dividend Rights	  	9
	 (e)
	  	Restrictions on Transfer of Shares	  	10
			
	SECTION 7.	  	TERMS AND CONDITIONS OF OPTIONS	  	10
	 (a)
	  	Stock Option Agreement	  	10
	 (b)
	  	Number of Shares	  	10
	 (c)
	  	Exercise Price	  	10
	 (d)
	  	Withholding Taxes	  	10
	 (e)
	  	Exercisability and Term	  	10
	 (f)
	  	Exercise of Options Upon Termination of Service	  	11
	 (g)
	  	Effect of Change in Control	  	11
	 (h)
	  	Leaves of Absence	  	11
	 (i)
	  	No Rights as a Shareholder	  	11
	 (j)
	  	Modification, Extension and Renewal of Options	  	11
	 (k)
	  	Restrictions on Transfer of Shares	  	12
			
	SECTION 8.	  	PAYMENT FOR SHARES	  	12
	 (a)
	  	General Rule	  	12
	 (b)
	  	Surrender of Stock	  	12
	 (c)
	  	Services Rendered	  	12
	 (d)
	  	Cashless Exercise	  	12
	 (e)
	  	Exercise/Pledge	  	12
	 (f)
	  	Other Forms of Payment	  	12
	 (g)
	  	Limitations under Applicable Law	  	13

  

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 2004 OMNIBUS INCENTIVE COMPENSATION PLAN 
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	SECTION 9.	  	STOCK APPRECIATION RIGHTS	  	13
	 (a)
	  	SAR Agreement	  	13
	 (b)
	  	Number of Shares	  	13
	 (c)
	  	Exercise Price	  	13
	 (d)
	  	Exercisability and Term	  	13
	 (e)
	  	Effect of Change in Control	  	14
	 (f)
	  	Exercise of SARs	  	13
	 (g)
	  	Modification or Assumption of SARs	  	14
			
	SECTION 10.	  	STOCK UNITS	  	14
	 (a)
	  	Stock Unit Agreement	  	14
	 (b)
	  	Payment for Awards	  	14
	 (c)
	  	Vesting Conditions	  	14
	 (d)
	  	Voting and Dividend Rights	  	14
	 (e)
	  	Form and Time of Settlement of Stock Units	  	15
	 (f)
	  	Death of Recipient	  	15
	 (g)
	  	Creditors’ Rights	  	15
			
	SECTION 11.	  	TRANSFERABILITY; PERFORMANCE GOALS	  	15
	 (a)
	  	Transferability	  	15
	 (b)
	  	Performance Goals	  	15
			
	SECTION 12.	  	ADJUSTMENT OF SHARES	  	16
	 (a)
	  	Adjustments	  	16
	 (b)
	  	Dissolution or Liquidation	  	17
	 (c)
	  	Reorganizations	  	17
	 (d)
	  	Reservation of Rights	  	17
			
	SECTION 13.	  	DEFERRAL OF AWARDS	  	17
			
	SECTION 14.	  	AWARDS UNDER OTHER PLANS	  	18
			
	SECTION 15.	  	PAYMENT OF DIRECTOR’S FEES IN SECURITIES	  	18
	 (a)
	  	Effective Date	  	18
	 (b)
	  	Elections to Receive NSOs, Restricted Shares or Stock Units	  	18
	 (c)
	  	Number and Terms of NSOs, Restricted Shares or Stock Units	  	18
			
	SECTION 16.	  	LEGAL AND REGULATORY REQUIREMENTS	  	18
			
	SECTION 17.	  	WITHHOLDING TAXES	  	19
	 (a)
	  	General	  	19
	 (b)
	  	Share Withholding	  	19
			
	SECTION 18.	  	NO EMPLOYMENT RIGHTS	  	19

  

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 2004 OMNIBUS INCENTIVE COMPENSATION PLAN 
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	SECTION 19.	  	DURATION AND AMENDMENTS	  	19
	 (a)
	  	Term of the Plan	  	19
	 (b)
	  	Right to Amend or Terminate the Plan	  	19
	 (c)
	  	Effect of Termination	  	20
			
	SECTION 20.	  	EXECUTION	  	21

  

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 2004 OMNIBUS INCENTIVE COMPENSATION PLAN 
 -iv- 

 CALIFORNIA MICRO DEVICES CORPORATION 

 2004 OMNIBUS INCENTIVE COMPENSATION PLAN 
 SECTION 1. ESTABLISHMENT AND PURPOSE. 
 The Plan
was adopted by the Board of Directors on June 22, 2004, subject to shareholder approval, which was effective on August 12, 2004 (the “Effective Date”). The plan is a successor to the Company’s 1995 Employee Stock Option
Compensation Plan and the 1995 Non-Employee Directors’ Stock Option Plan (the “Prior Plans”). As of the Effective Date, no further awards shall be made under the Prior Plans other than options to purchase up to 50,000 shares under the
UK subplan to the Company’s 1995 Employee Stock Option Compensation Plan. However, the provisions of the Prior Plans shall continue to apply to awards granted under the Prior Plans prior to the Effective Date. In the event that this Plan is not
approved by shareholders, awards shall continue to be made under the Prior Plans in accordance with their terms. The purpose of the Plan is to promote the long-term success of the Company and the creation of shareholder value by (a) encouraging
Employees, Outside Directors and Consultants to focus on critical long-range objectives, (b) encouraging the attraction and retention of Employees, Outside Directors and Consultants with exceptional qualifications and (c) linking
Employees, Outside Directors and Consultants directly to shareholder interests through increased stock ownership. The Plan seeks to achieve this purpose by providing for Awards in the form of restricted shares, stock units, options (which may
constitute incentive stock options or nonstatutory stock options) or stock appreciation rights. 
 SECTION 2. DEFINITIONS. 
 (a) “Affiliate” shall mean any entity other than a Subsidiary, if the Company and/or one of more Subsidiaries own not less than 50% of
such entity. 
 (b) “Award” shall mean any award of an Option, a SAR, a Restricted Share or a Stock Unit under the Plan.

 (c) “Board of Directors” shall mean the Board of Directors of the Company, as constituted from time to time. 

(d) “Change in Control” shall mean the occurrence of any of the following events: 
 (i) A change in the composition of the Board of Directors occurs, as a result of which fewer than one-half of the incumbent directors are
directors who either: 
 (A) Had been directors of the Company on the “look-back date” (as defined below) (the
“original directors”); or 
 (B) Were elected, or nominated for election, to the Board of Directors with the
affirmative votes of at least a majority of the aggregate of the original directors who were still in office at the time of the election or nomination and the directors whose election or nomination was previously so approved (the “continuing
directors”); or 
  

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 2004 OMNIBUS INCENTIVE COMPENSATION PLAN 
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 (ii) Any “person” (as defined below) who by the acquisition or aggregation of
securities, is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 50% or more of the combined voting power of the Company’s then
outstanding securities ordinarily (and apart from rights accruing under special circumstances) having the right to vote at elections of directors (the “Base Capital Stock”); except that any change in the relative beneficial ownership of
the Company’s securities by any person resulting solely from a reduction in the aggregate number of outstanding shares of Base Capital Stock, and any decrease thereafter in such person’s ownership of securities, shall be disregarded until
such person increases in any manner, directly or indirectly, such person’s beneficial ownership of any securities of the Company; or 
 (iii) The consummation of a merger or consolidation of the Company with or into another entity or any other corporate reorganization, if persons who were not shareholders of the Company immediately prior to such
merger, consolidation or other reorganization own immediately after such merger, consolidation or other reorganization 50% or more of the voting power of the outstanding securities of each of (A) the continuing or surviving entity and
(B) any direct or indirect parent corporation of such continuing or surviving entity; or 
 (iv) The sale, transfer or
other disposition of all or substantially all of the Company’s assets. 
 For purposes of subsection (d)(i) above, the term
“look-back” date shall mean the later of (1) the Effective Date or (2) the date 24 months prior to the date of the event that may constitute a Change in Control. 
 For purposes of subsection (d)(ii) above, the term “person” shall have the same meaning as when used in Sections 13(d) and 14(d) of the
Exchange Act but shall exclude (1) a trustee or other fiduciary holding securities under an employee benefit plan maintained by the Company or a Parent or Subsidiary and (2) a corporation owned directly or indirectly by the shareholders of
the Company in substantially the same proportions as their ownership of the Stock. 
 Any other provision of this Section 2(d)
notwithstanding, a transaction shall not constitute a Change in Control if its sole purpose is to change the state of the Company’s incorporation or to create a holding company that will be owned in substantially the same proportions by the
persons who held the Company’s securities immediately before such transaction, and a Change in Control shall not be deemed to occur if the Company files a registration statement with the Securities and Exchange Commission for the initial
offering of Stock to the public. 
 (e) “Code” shall mean the Internal Revenue Code of 1986, as amended. 
 (f) “Committee” shall mean the Compensation Committee as designated by the Board of Directors, which is authorized to administer the
Plan, as described in Section 3 hereof. 
 (g) “Company” shall mean California Micro Devices Corporation, a California
corporation. 
  

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 2004 OMNIBUS INCENTIVE COMPENSATION PLAN 
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 (h) “Consultant” shall mean a consultant or advisor who provides bona fide services to
the Company, a Parent, a Subsidiary or an Affiliate as an independent contractor or a member of the board of directors of a Parent or a Subsidiary who is not an Employee. Service as a Consultant shall be considered Service for all purposes of the
Plan. 
 (i) “Employee” shall mean any individual who is a common-law employee of the Company, a Parent or a Subsidiary.

 (j) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 
 (k) “Exercise Price” shall mean, in the case of an Option, the amount for which one Common Share may be purchased upon exercise of such
Option, as specified in the applicable Stock Option Agreement. “Exercise Price,” in the case of a SAR, shall mean an amount, as specified in the applicable SAR Agreement, which is subtracted from the Fair Market Value of one Common Share
in determining the amount payable upon exercise of such SAR. 
 (l) “Fair Market Value” with respect to a Share, shall mean
the market price of one Share of Stock, determined by the Committee as follows: 
 (i) If the Stock was traded
over-the-counter on the date in question but was not traded on The Nasdaq Stock Market, then the Fair Market Value shall be equal to the last transaction price quoted for such date by the OTC Bulletin Board or, if not so quoted, shall be equal to
the mean between the last reported representative bid and asked prices quoted for such date by the principal automated inter-dealer quotation system on which the Stock is quoted or, if the Stock is not quoted on any such system, by the “Pink
Sheets” published by the National Quotation Bureau, Inc.; 
 (ii) If the Stock was traded on The Nasdaq Stock Market,
then the Fair Market Value shall be equal to the last reported sale price quoted for such date by The Nasdaq Stock Market; 
 (iii) If the Stock was traded on a United States stock exchange on the date in question, then the Fair Market Value shall be equal to the closing price reported for such date by the applicable composite-transactions report; and 

(iv) If none of the foregoing provisions is applicable, then the Fair Market Value shall be determined by the Committee in good faith
on such basis as it deems appropriate. 
 In all cases, the determination of Fair Market Value by the Committee shall be conclusive and binding on all
persons. 
 (m) “ISO” shall mean an employee incentive stock option described in Section 422 of the Code. 

(n) “Nonstatutory Option” or “NSO” shall mean an employee stock option that is not an ISO. 
  

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 2004 OMNIBUS INCENTIVE COMPENSATION PLAN 
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 (o) “Offeree” shall mean an individual to whom the Committee has offered the right to
acquire Shares under the Plan (other than upon exercise of an Option). 
 (p) “Option” shall mean an ISO or Nonstatutory
Option granted under the Plan and entitling the holder to purchase Shares. 
 (q) “Optionee” shall mean an individual or
estate who holds an Option or SAR. 
 (r) “Outside Director” shall mean a member of the Board of Directors who is not a
common-law employee of, or paid consultant to, the Company, a Parent or a Subsidiary. Service as an Outside Director shall be considered Service for all purposes of the Plan, except as provided in Section 4(a). 
 (s) “Parent” shall mean any corporation (other than the Company) in an unbroken chain of corporations ending with the Company, if each
of the corporations other than the Company owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. A corporation that attains the status of a Parent on a date after
the adoption of the Plan shall be a Parent commencing as of such date. 
 (t) “Participant” shall mean an individual or
estate who holds an Award. 
 (u) “Plan” shall mean this 2004 Omnibus Incentive Compensation Plan of California Micro
Devices Corporation, as amended from time to time. 
 (v) “Purchase Price” shall mean the consideration for which one Share
may be acquired under the Plan (other than upon exercise of an Option), as specified by the Committee. 
 (w) “Restricted
Share” shall mean a Share awarded under the Plan. 
 (x) “Restricted Share Agreement” shall mean the agreement
between the Company and the recipient of a Restricted Share which contains the terms, conditions and restrictions pertaining to such Restricted Shares. 
 (y) “SAR” shall mean a stock appreciation right granted under the Plan. 
 (z) “SAR
Agreement” shall mean the agreement between the Company and an Optionee which contains the terms, conditions and restrictions pertaining to his or her SAR. 
 (aa) “Service” shall mean service as an Employee, Consultant or Outside Director. 
 (bb)
“Share” shall mean one share of Stock, as adjusted in accordance with Section 8 (if applicable). 
 (cc)
“Stock” shall mean the Common Stock of the Company. 
 (dd) “Stock Option Agreement” shall mean the agreement
between the Company and an Optionee that contains the terms, conditions and restrictions pertaining to his Option. 
  

 CALIFORNIA MICRO DEVICES CORPORATION

 2004 OMNIBUS INCENTIVE COMPENSATION PLAN 
 -4- 

 (ee) “Stock Unit” shall mean a bookkeeping entry representing the equivalent of one
Share, as awarded under the Plan. 
 (ff) “Stock Unit Agreement” shall mean the agreement between the Company and the
recipient of a Stock Unit which contains the terms, conditions and restrictions pertaining to such Stock Unit. 
 (gg)
“Subsidiary” shall mean any corporation, if the Company and/or one or more other Subsidiaries own not less than 50% of the total combined voting power of all classes of outstanding stock of such corporation. A corporation that attains
the status of a Subsidiary on a date after the adoption of the Plan shall be considered a Subsidiary commencing as of such date. 
 (hh)
“Total and Permanent Disability” shall mean that the Optionee is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or that
has lasted, or can be expected to last, for a continuous period of not less than 12 months. 
 SECTION 3. ADMINISTRATION. 
 (a) Committee Composition. The Plan shall be administered by the Committee. The Committee shall consist of two or more directors of the Company,
who shall be appointed by the Board. In addition, the composition of the Committee shall satisfy (i) such requirements as the Securities and Exchange Commission may establish for administrators acting under plans intended to qualify for
exemption under Rule 16b-3 (or its successor) under the Exchange Act; and (ii) such requirements as the Internal Revenue Service may establish for outside directors acting under plans intended to qualify for exemption under
Section 162(m)(4)(C) of the Code. 
 (b) Committee for Non-Officer Grants. The Board may also appoint one or more separate
committees of the Board, each composed of two or more directors of the Company who need not satisfy the requirements of Section 3(a), who may administer the Plan with respect to Employees who are not considered officers or directors of the
Company under Section 16 of the Exchange Act, may grant Awards under the Plan to such Employees and may determine all terms of such grants. Within the limitations of the preceding sentence, any reference in the Plan to the Committee shall
include such committee or committees appointed pursuant to the preceding sentence. Subject to compliance with applicable law, the Board of Directors may also authorize one or more officers of the Company to designate Employees, other than officers
under Section 16 of the Exchange Act, to receive Awards and/or to determine the number of such Awards to be received by such persons; provided, however, that the Board of Directors shall specify the total number of Awards that such officers may
so award. 
 (c) Committee Procedures. The Board of Directors shall designate one of the members of the Committee as chairman. The
Committee may hold meetings at such times and places as it shall determine. The acts of a majority of the Committee members present at meetings at which a quorum exists, or acts reduced to or approved in writing by all Committee members, shall be
valid acts of the Committee. 
  

 CALIFORNIA MICRO DEVICES CORPORATION

 2004 OMNIBUS INCENTIVE COMPENSATION PLAN 
 -5- 

 (d) Committee Responsibilities. Subject to the provisions of the Plan, the Committee shall have
full authority and discretion to take the following actions: 
 (i) To interpret the Plan and to apply its provisions;

 (ii) To adopt, amend or rescind rules, procedures and forms relating to the Plan; 
 (iii) To authorize any person to execute, on behalf of the Company, any instrument required to carry out the purposes of the Plan;

 (iv) To determine when Awards are to be granted under the Plan; 
 (v) To select the Offerees and Optionees; 
 (vi) To determine the number of Shares to be made subject to each Award; 
 (vii) To prescribe
the terms and conditions of each Award, including (without limitation) the Exercise Price or Purchase Price, and the vesting or duration of the Award (including accelerating the vesting of Awards, either at the time of the Award or thereafter,
without the consent of the Participant), to determine whether an Option is to be classified as an ISO or as a Nonstatutory Option, and to specify the provisions of the agreement relating to such Award; 
 (viii) To establish or verify the extent of satisfaction of any performance goals or other conditions applicable to the grant, issuance,
exercisability, vesting and/or ability to retain any Award; 
 (ix) To amend any outstanding Award agreement, subject to
applicable legal restrictions and to the consent of the Participant if the Participant’s rights or obligations would be adversely affected; 
 (x) To prescribe the consideration for the grant of each Award or other right under the Plan and to determine the sufficiency of such consideration; 
 (xi) To determine the disposition of each Award or other right under the Plan in the event of a Participant’s divorce or dissolution
of marriage; 
 (xii) To determine whether Options or other rights under the Plan will be granted in replacement of other
grants under an incentive or other compensation plan of an acquired business; 
 (xiii) To correct any defect, supply any
omission, or reconcile any inconsistency in the Plan or any Award agreement; and 
 (xiv) To take any other actions deemed
necessary or advisable for the administration of the Plan. 
  

 CALIFORNIA MICRO DEVICES CORPORATION

 2004 OMNIBUS INCENTIVE COMPENSATION PLAN 
 -6- 

 Subject to the requirements of applicable law, the Committee may designate persons other than members of the Committee to
carry out its responsibilities and may prescribe such conditions and limitations as it may deem appropriate, except that the Committee may not delegate its authority with regard to the selection for participation of or the granting of Options or
other rights under the Plan to persons subject to Section 16 of the Exchange Act. All decisions, interpretations and other actions of the Committee shall be final and binding on all Offerees, all Optionees, and all persons deriving their rights
from an Offeree or Optionee. No member of the Committee shall be liable for any action that he has taken or has failed to take in good faith with respect to the Plan, any Option, or any right to acquire Shares under the Plan. 
 SECTION 4. ELIGIBILITY. 
 (a) General
Rule. Only Employees shall be eligible for the grant of ISOs. Only Employees, Consultants and Outside Directors shall be eligible for the grant of Restricted Shares, Stock Units, Nonstatutory Options or SARs. 
 (b) Automatic Grants to Outside Directors. 
 (i) Each Outside Director who first joins the Board of Directors on or after the Effective Date shall receive a Nonstatutory Option, subject to approval of the Plan by the Company’s stockholders, to purchase
20,000 Shares (subject to adjustment under Section 11) on the Effective Date or, if later, on his or her appointment or election to the Board of Directors. 
 (ii) As of the date of each regular annual meeting of the Company’s stockholders, commencing with the annual meeting occurring on the
Effective Date, each Outside Director who is not eligible for the grant of an initial option under Section 4(b)(i) and who has been elected or reelected or is continuing to serve as a member of the Board of Directors as of the adjournment of
such meeting shall receive an Option to purchase 10,000 Shares (subject to adjustment under Section 11), provided that such Outside Director has served on the Board of Directors for at least six months. 
 (iii) Each Option granted under Section 4(b)(i) shall vest and become
exercisable as to one fourth of the Shares at the end of the 4th full calendar quarter following the date the Option was granted and as to an additional 1/16th of the Shares at the end of each subsequent full calendar quarter commencing with the 5th full calendar quarter following the date
the Option was granted and each Option granted under Section 4(b)(ii) shall vest and become exercisable as to one-twelfth of the Shares on the date of grant and as to an additional one-twelfth on each of the next eleven (11) monthly
anniversaries of the date of grant; provided, however, that each such Option shall become fully vested if a Change in Control occurs with respect to the Company during the Outside Director’s Service (unless otherwise provided by the Board in
the Outside Director’s Nonstatutory Option agreement). 
 (iv) The Exercise Price of all Nonstatutory Options granted to
an Outside Director under this Section 4(b) shall be equal to 100% of the Fair Market Value of a Share on the date of grant, payable in one of the forms described in Section 8(a), (b) or (d). 
  

 CALIFORNIA MICRO DEVICES CORPORATION

 2004 OMNIBUS INCENTIVE COMPENSATION PLAN 
 -7- 

 (v) All Nonstatutory Options granted to an Outside Director under this Section 4(b)
shall terminate on the earlier of (A) the tenth anniversary of the date of grant of such Options, (B) the first anniversary of the date of termination of such Outside Director’s Service by reason of death or Total and Permanent
Disability, (C) the date 90 days after the termination of such Outside Director’s Service for any reason other than death or Total and Permanent Disability, (D) the first anniversary of the Outside Director’s death during the 90
day period specified in Section 4(b)(v)(C), or (E) that date that such Outside Director files or has filed against him or her a petition in bankruptcy; provided, however, that any such Options that are not vested upon the termination of
the Outside Director’s Service for any reason shall terminate immediately and may not be exercised. The Board may also provide for earlier termination in the Outside Director’s Nonstatutory Option agreement. 
 (c) Ten-Percent Stockholders. An Employee who owns more than 10% of the total combined voting power of all classes of outstanding stock of the
Company, a Parent or Subsidiary shall not be eligible for the grant of an ISO unless such grant satisfies the requirements of Section 422(c)(5) of the Code. 
 (d) Attribution Rules. For purposes of Section 4(c) above, in determining stock ownership, an Employee shall be deemed to own the stock owned, directly or indirectly, by or for such Employee’s
brothers, sisters, spouse, ancestors and lineal descendants. Stock owned, directly or indirectly, by or for a corporation, partnership, estate or trust shall be deemed to be owned proportionately by or for its shareholders, partners or
beneficiaries. 
 (e) Outstanding Stock. For purposes of Section 4(c) above, “outstanding stock” shall include all
stock actually issued and outstanding immediately after the grant. “Outstanding stock” shall not include shares authorized for issuance under outstanding options held by the Employee or by any other person. 
 SECTION 5. STOCK SUBJECT TO PLAN. 
 (a) Basic
Limitation. Shares offered under the Plan shall be authorized but unissued Shares. The maximum aggregate number of Shares that may be subject to Awards granted under the Plan shall not exceed 4,100,000 Shares, plus any Shares remaining available
for grant of awards under the Prior Plans on the Effective Date (including Shares subject to outstanding options under the Prior Plans on the Effective Date that are subsequently forfeited or terminate for any other reason before being exercised and
unvested Shares that are forfeited pursuant to such Prior Plans after the Effective Date). Any Shares granted as Options or SARs shall be counted against this limit as one (1) Share for every one (1) Share granted. In these regards, the
number of Shares counted against this limit shall be reduced by the number of Shares covered by an SAR which is settled in Shares and by the number Shares covered by an Option for which there is a net exercise or withholding in Shares (rather than
the number of Shares actually issued). Any Shares granted as Awards other than Options or SARs shall be counted against this limit as two (2) Shares for every one (1) Share granted. The limitations of this Section 5(a) shall be
subject to adjustment pursuant to Section 12. The number of Shares that are subject to Options or other Awards outstanding at any time under the Plan shall not exceed the number of Shares which then remain available for issuance under the Plan.
The Company, during the term of the Plan, shall at all times reserve and keep available sufficient Shares to satisfy the requirements of the Plan. 
  

 CALIFORNIA MICRO DEVICES CORPORATION

 2004 OMNIBUS INCENTIVE COMPENSATION PLAN 
 -8- 

 (b) Individual Award Limitation. Subject to the provisions of Section 12, no Participant may
receive Options, SARs, Restricted Shares or Stock Units under the Plan in any one fiscal year of the Company that relate to more than 500,000 Shares. 
 (c) Additional Shares. If Restricted Shares or Shares issued upon the exercise of Options are forfeited, then such Shares shall again become available for Awards under the Plan. If Stock Units, Options or SARs
are forfeited or terminate for any other reason before being settled or exercised, then the corresponding Shares shall again become available for Awards under the Plan. If Stock Units are settled, then only the number of Shares (if any) actually
issued in settlement of such Stock Units (multiplied by 2) shall reduce the number available under Section 5(a) and the balance shall again become available for Awards under the Plan. 
 SECTION 6. RESTRICTED SHARES. 
 (a) Restricted
Stock Agreement. Each grant of Restricted Shares under the Plan shall be evidenced by a Restricted Stock Agreement between the recipient and the Company. Such Restricted Shares shall be subject to all applicable terms of the Plan and may be
subject to any other terms that are not inconsistent with the Plan. The provisions of the various Restricted Stock Agreements entered into under the Plan need not be identical. 
 (b) Payment for Awards. Subject to the following sentence, Restricted Shares may be sold or awarded under the Plan for such consideration as the
Committee may determine, including (without limitation) cash, cash equivalents, past services and future services. 
 (c) Vesting.
Each Award of Restricted Shares shall be subject to vesting. Vesting shall occur, in full or in installments, upon satisfaction of the conditions specified in the Restricted Stock Agreement; provided, however, that an Award of Restricted Shares will
have at least one-year vesting if such Award includes performance conditions and if the Award does not include performance conditions, vesting no more rapidly than pro rata installments over three years from the date the Award is made, other than
upon the death, disability or retirement of the Participant or with respect to such Awards that are issued upon exercise or settlement of Stock Options or SARs, in each case as specified in the agreement evidencing such Award. A Restricted Stock
Agreement may provide for accelerated vesting in the event of the Participant’s death, disability or retirement or other events. The Committee may determine, at the time of granting Restricted Shares of thereafter, that all or part of such
Restricted Shares shall become vested in the event that a Change in Control occurs with respect to the Company. 
 (d) Voting and Dividend
Rights. The holders of Restricted Shares awarded under the Plan shall have the same voting, dividend and other rights as the Company’s other shareholders. A Restricted Stock Agreement, however, may require that the holders of Restricted
Shares invest any cash dividends received in additional Restricted Shares. Such additional Restricted Shares shall be subject to the same conditions and restrictions as the Award with respect to which the dividends were paid. 
  

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 2004 OMNIBUS INCENTIVE COMPENSATION PLAN 
 -9- 

 (e) Restrictions on Transfer of Shares. Restricted Shares shall be subject to such rights of
repurchase, rights of first refusal or other restrictions as the Committee may determine. Such restrictions shall be set forth in the applicable Restricted Stock Agreement and shall apply in addition to any general restrictions that may apply to all
holders of Shares. 
 SECTION 7. TERMS AND CONDITIONS OF OPTIONS. 
 (a) Stock Option Agreement. Each grant of an Option under the Plan shall be evidenced by a Stock Option Agreement between the Optionee and the Company. Such Option shall be subject to all applicable terms and
conditions of the Plan and may be subject to any other terms and conditions which are not inconsistent with the Plan and which the Committee deems appropriate for inclusion in a Stock Option Agreement. The Stock Option Agreement shall specify
whether the Option is an ISO or an NSO. The provisions of the various Stock Option Agreements entered into under the Plan need not be identical. Options may be granted in consideration of a reduction in the Optionee’s other compensation.

 (b) Number of Shares. Each Stock Option Agreement shall specify the number of Shares that are subject to the Option and shall
provide for the adjustment of such number in accordance with Section 12. 
 (c) Exercise Price. Each Stock Option Agreement shall
specify the Exercise Price. The Exercise Price of an ISO shall not be less than 100% of the Fair Market Value of a Share on the date of grant, except as otherwise provided in Section 4(c), and the Exercise Price of an NSO shall not be less 100%
of the Fair Market Value of a Share on the date of grant. Subject to the foregoing in this Section 7(c), the Exercise Price under any Option shall be determined by the Committee at its sole discretion. The Exercise Price shall be payable in one
of the forms described in Section 8. 
 (d) Withholding Taxes. As a condition to the exercise of an Option, the Optionee shall
make such arrangements as the Committee may require for the satisfaction of any federal, state, local or foreign withholding tax obligations that may arise in connection with such exercise. The Optionee shall also make such arrangements as the
Committee may require for the satisfaction of any federal, state, local or foreign withholding tax obligations that may arise in connection with the disposition of Shares acquired by exercising an Option. 
 (e) Exercisability and Term. Each Stock Option Agreement shall specify the date when all or any installment of the Option is to become
exercisable. The Stock Option Agreement shall also specify the term of the Option; provided that the term of Option shall in no event exceed 10 years from the date of grant (five years for ISOs granted to Employees described in Section 4(c)). A
Stock Option Agreement may provide for accelerated exercisability in the event of the Optionee’s death, disability, or retirement or other events and may provide for expiration prior to the end of its term in the event of the termination of the
Optionee’s Service. 

  

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 2004 OMNIBUS INCENTIVE COMPENSATION PLAN 
 -10- 

 
Options may be awarded in combination with SARs, and such an Award may provide that the Options will not be exercisable unless the related SARs are
forfeited. Subject to the foregoing in this Section 7(e), the Committee at its sole discretion shall determine when all or any installment of an Option is to become exercisable and when an Option is to expire. 
 (f) Exercise of Options Upon Termination of Service. Each Stock Option Agreement shall set forth the extent to which the Optionee shall have the
right to exercise the Option following termination of the Optionee’s Service with the Company and its Subsidiaries, and the right to exercise the Option of any executors or administrators of the Optionee’s estate or any person who has
acquired such Option(s) directly from the Optionee by bequest or inheritance. Such provisions shall be determined in the sole discretion of the Committee, need not be uniform among all Options issued pursuant to the Plan, and may reflect
distinctions based on the reasons for termination of Service. 
 (g) Effect of Change in Control. The Committee may determine, at the
time of granting an Option or thereafter, that such Option shall become exercisable as to all or part of the Shares subject to such Option in the event that a Change in Control occurs with respect to the Company. 
 (h) Leaves of Absence. An Employee’s Service shall cease when such Employee ceases to be actively employed by, or a Consultant to, the
Company (or any subsidiary) as determined in the sole discretion of the Board of Directors. For purposes of Options, Service does not terminate when an Employee goes on a bona fide leave of absence, that was approved by the Company in writing, if
the terms of the leave provide for continued service crediting, or when continued service crediting is required by applicable law. However, for purposes of determining whether an Option is entitled to ISO status, an Employee’s Service will be
treated as terminating 90 days after such Employee went on leave, unless such Employee’s right to return to active work is guaranteed by law or by a contract. Service terminates in any event when the approved leave ends, unless such Employee
immediately returns to active work. The Company determines which leaves count toward Service, and when Service terminates for all purposes under the Plan. 
 (i) No Rights as a Shareholder. An Optionee, or a transferee of an Optionee, shall have no rights as a shareholder with respect to any Shares covered by his Option until the date of the issuance of a stock
certificate for such Shares. No adjustments shall be made, except as provided in Section 12. 
 (j) Modification, Extension and
Renewal of Options. Within the limitations of the Plan, the Committee may modify, extend or renew outstanding options or may accept the cancellation of outstanding options (to the extent not previously exercised), whether or not granted
hereunder, in return for the grant of new Options for the same or a different number of Shares and at the same or a different exercise price, or in return for the grant of the same or a different number of Shares. The foregoing notwithstanding, no
modification of an Option shall, without the consent of the Optionee, adversely affect his or her rights or obligations under such Option. In addition, notwithstanding any other provision of the Plan, in no event shall the Committee cancel any
outstanding Option for the purpose of reissuing the Option to the Optionee at a lower exercise price or reduce the exercise price of an outstanding Option. 
  

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 (k) Restrictions on Transfer of Shares. Any Shares issued upon exercise of an Option shall be
subject to such special forfeiture conditions, rights of repurchase, rights of first refusal and other transfer restrictions as the Committee may determine. Such restrictions shall be set forth in the applicable Stock Option Agreement and shall
apply in addition to any general restrictions that may apply to all holders of Shares. 
 SECTION 8. PAYMENT FOR SHARES. 
 (a) General Rule. The entire Exercise Price or Purchase Price of Shares issued under the Plan shall be payable in lawful money of the United States
of America at the time when such Shares are purchased, except as provided in Section 8(b) through Section 8(f) below. 
 (b)
Surrender of Stock. To the extent that a Stock Option Agreement so provides, payment may be made all or in part by surrendering, or attesting to the ownership of, Shares which have already been owned by the Optionee or his representative. Such
Shares shall be valued at their Fair Market Value on the date when the new Shares are purchased under the Plan. The Optionee shall not surrender, or attest to the ownership of, Shares in payment of the Exercise Price if such action would cause the
Company to recognize compensation expense (or additional compensation expense) with respect to the Option for financial reporting purposes. 
 (c) Services Rendered. At the discretion of the Committee, Shares may be awarded under the Plan in consideration of services rendered to the Company or a Subsidiary prior to the award. If Shares are awarded without the payment of a
Purchase Price in cash, the Committee shall make a determination (at the time of the award) of the value of the services rendered by the Offeree and the sufficiency of the consideration to meet the requirements of Section 6(b). 
 (d) Cashless Exercise. To the extent that a Stock Option Agreement so provides, payment may be made all or in part by delivery (on a form
prescribed by the Committee) of an irrevocable direction to a securities broker to sell Shares and to deliver all or part of the sale proceeds to the Company in payment of the aggregate Exercise Price. 
 (e) Exercise/Pledge. To the extent that a Stock Option Agreement so provides, payment may be made all or in part by delivery (on a form prescribed
by the Committee) of an irrevocable direction to a securities broker or lender to pledge Shares, as security for a loan, and to deliver all or part of the loan proceeds to the Company in payment of the aggregate Exercise Price. 
 (f) Other Forms of Payment. To the extent that a Stock Option Agreement or Restricted Stock Agreement so provides, payment may be made in any
other form that is consistent with applicable laws, regulations and rules; provided that payment may not be made by delivery of a promissory note. 
  

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 (g) Limitations under Applicable Law. Notwithstanding anything herein or in a Stock Option
Agreement or Restricted Stock Agreement to the contrary, payment may not be made in any form that is unlawful, as determined by the Committee in its sole discretion. 
 SECTION 9. STOCK APPRECIATION RIGHTS. 
 (a) SAR Agreement. Each grant of a SAR under the
Plan shall be evidenced by a SAR Agreement between the Optionee and the Company. Such SAR shall be subject to all applicable terms of the Plan and may be subject to any other terms that are not inconsistent with the Plan. The provisions of the
various SAR Agreements entered into under the Plan need not be identical. SARs may be granted in consideration of a reduction in the Optionee’s other compensation. 
 (b) Number of Shares. Each SAR Agreement shall specify the number of Shares to which the SAR pertains and shall provide for the adjustment of such number in accordance with Section 12. 
 (c) Exercise Price. Each SAR Agreement shall specify the Exercise Price. A SAR Agreement may specify an Exercise Price that varies in accordance
with a predetermined formula while the SAR is outstanding. 
 (d) Exercisability and Term. Each SAR Agreement shall specify the date
when all or any installment of the SAR is to become exercisable. The SAR Agreement shall also specify the term of the SAR. A SAR Agreement may provide for accelerated exercisability in the event of the Optionee’s death, disability or retirement
or other events and may provide for expiration prior to the end of its term in the event of the termination of the Optionee’s service. SARs may be awarded in combination with Options, and such an Award may provide that the SARs will not be
exercisable unless the related Options are forfeited. A SAR may be included in an ISO only at the time of grant but may be included in an NSO at the time of grant or thereafter. A SAR granted under the Plan may provide that it will be exercisable
only in the event of a Change in Control. 
 (e) Effect of Change in Control. The Committee may determine, at the time of granting a
SAR or thereafter, that such SAR shall become fully exercisable as to all Common Shares subject to such SAR in the event that a Change in Control occurs with respect to the Company. 
 (f) Exercise of SARs. Upon exercise of a SAR, the Optionee (or any person having the right to exercise the SAR after his or her death) shall
receive from the Company (a) Shares, (b) cash or (c) a combination of Shares and cash, as the Committee shall determine. The amount of cash and/or the Fair Market Value of Shares received upon exercise of SARs shall, in the aggregate,
be equal to the amount by which the Fair Market Value (on the date of surrender) of the Shares subject to the SARs exceeds the Exercise Price. 
  

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 (g) Modification or Assumption of SARs. Within the limitations of the Plan, the Committee may
modify, extend or assume outstanding SARs or may accept the cancellation of outstanding SARs (whether granted by the Company or by another issuer) in return for the grant of new SARs for the same or a different number of shares and at the same or a
different exercise price. The foregoing notwithstanding, no modification of a SAR shall, without the consent of the holder, may alter or impair his or her rights or obligations under such SAR. In addition, notwithstanding any other provision of the
Plan, in no event shall the Committee cancel any outstanding SAR for the purpose of reissuing the SAR to the Optionee at a lower exercise price or reduce the exercise price of an outstanding SAR. 
 SECTION 10. STOCK UNITS. 
 (a) Stock Unit
Agreement. Each grant of Stock Units under the Plan shall be evidenced by a Stock Unit Agreement between the recipient and the Company. Such Stock Units shall be subject to all applicable terms of the Plan and may be subject to any other terms
that are not inconsistent with the Plan. The provisions of the various Stock Unit Agreements entered into under the Plan need not be identical. Stock Units may be granted in consideration of a reduction in the recipient’s other compensation.

 (b) Payment for Awards. To the extent that an Award is granted in the form of Stock Units, no cash consideration shall be required
of the Award recipients. 
 (c) Vesting Conditions. Each Award of Stock Units may or may not be subject to vesting. Vesting shall
occur, in full or in installments, upon satisfaction of the conditions specified in the Stock Unit Agreement; provided, however, that an Award of Stock Units will have at least one-year vesting if such Award includes performance conditions and if
the Award does not include performance conditions, vesting no more rapidly than pro rata installments over three years from the date the Award is made, other than upon the death, disability or retirement of the Participant or with respect to such
Awards that are issued upon exercise or settlement of Stock Options or SARs, in each case as specified in the agreement evidencing such Award. A Stock Unit Agreement may provide for accelerated vesting in the event of the Participant’s death,
disability or retirement or other events. The Committee may determine, at the time of granting Stock Units or thereafter, that all or part of such Stock Units shall become vested in the event that a Change in Control occurs with respect to the
Company. 
 (d) Voting and Dividend Rights. The holders of Stock Units shall have no voting rights. Prior to settlement or forfeiture,
any Stock Unit awarded under the Plan may, at the Committee’s discretion, carry with it a right to dividend equivalents. Such right entitles the holder to be credited with an amount equal to all cash dividends paid on one Share while the Stock
Unit is outstanding. Dividend equivalents may be converted into additional Stock Units. Settlement of dividend equivalents may be made in the form of cash, in the form of Shares, or in a combination of both. Prior to distribution, any dividend
equivalents which are not paid shall be subject to the same conditions and restrictions (including without limitation, any forfeiture conditions) as the Stock Units to which they attach. 
  

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 (e) Form and Time of Settlement of Stock Units. Settlement of vested Stock Units may be made in
the form of (a) cash, (b) Shares or (c) any combination of both, as determined by the Committee. The actual number of Stock Units eligible for settlement may be larger or smaller than the number included in the original Award, based
on predetermined performance factors. Methods of converting Stock Units into cash may include (without limitation) a method based on the average Fair Market Value of Shares over a series of trading days. Vested Stock Units may be settled in a lump
sum or in installments. The distribution may occur or commence when all vesting conditions applicable to the Stock Units have been satisfied or have lapsed, or it may be deferred to any later date. The amount of a deferred distribution may be
increased by an interest factor or by dividend equivalents. Until an Award of Stock Units is settled, the number of such Stock Units shall be subject to adjustment pursuant to Section 12. 
 (f) Death of Recipient. Any Stock Unit Award that becomes payable after the recipient’s death shall be distributed to the recipient’s
beneficiary or beneficiaries. Each recipient of a Stock Unit Award under the Plan shall designate one or more beneficiaries for this purpose by filing the prescribed form with the Company. A beneficiary designation may be changed by filing the
prescribed form with the Company at any time before the Award recipient’s death. If no beneficiary was designated or if no designated beneficiary survives the Award recipient, then any Stock Unit Award that becomes payable after the
recipient’s death shall be distributed to the recipient’s estate. 
 (g) Creditors’ Rights. A holder of Stock Units
shall have no rights other than those of a general creditor of the Company. Stock Units represent an unfunded and unsecured obligation of the Company, subject to the terms and conditions of the applicable Stock Unit Agreement. 
 SECTION 11. TRANSFERABILITY; PERFORMANCE GOALS. 
 (a) Transferability. Except to the extent determined by the Committee, no Award shall be assigned or transferred by a Participant other than by will or the laws of descent and distribution, and during the lifetime of the Participant
may be exercised only by such Participant or his or her guardian or legal representative. 
 (b) Performance Goals. The number of
Shares or other benefits granted, issued, retainable and/or vested under an Award may be made subject to the attainment of performance goals for a specified period of time relating to one or more of the following performance criteria, either
individually, alternatively or in any combination, applied to either the Company as a whole or to a business unit or Subsidiary, either individually, alternatively or in any combination, and measured either annually or cumulatively over a period of
years, on an absolute basis or relative to a pre-established target, to previous years’ results or to a designated comparison group or index, in each case as specified by the Committee in the Award: (a) cash flow, (b) earnings per
share, (c) earnings before interest, taxes and amortization, (d) return on equity, (e) total shareholder return, (f) share price performance, (g) return on capital, (h) return on assets or net assets, (i) revenue,
(j) income or net 

  

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income, (k) operating income or net operating income, (l) operating profit or net operating profit, (m) operating margin or profit margin,
(n) return on operating revenue, (o) return on invested capital, (p) market segment shares, (q) sales, (r) unit openings or (s) customer satisfaction (“Qualifying Performance Criteria”). The Committee may
appropriately adjust any evaluation of performance under a Qualifying Performance Criteria to exclude any of the following events that occurs during a performance period: (i) asset write-downs, (ii) litigation or claim judgments or
settlements, (iii) the effect of changes in tax law, accounting principles or other such laws or provisions affecting reported results, (iv) accruals for reorganization and restructuring programs and (v) any extraordinary nonrecurring
items as described in Accounting Principles Board Opinion No. 30 and/or in managements’ discussion and analysis of financial condition and results of operations appearing in the Company’s annual report to shareholders for the
applicable year. The Committee shall determine the Qualifying Performance Criteria not later than the 90th day of the performance period, and shall
determine and certify, for each Participant, the extent to which the Qualifying Performance Criteria have been met. The Committee may not in any event increase the amount of compensation payable under the Plan upon the attainment of a Qualifying
Performance Goal to a Participant who is a “covered employee” within the meaning of Section 162(m) of the Code. 
 SECTION 12.
ADJUSTMENT OF SHARES. 
 (a) Adjustments. Notwithstanding any other provision of the Plan (except Section 11(a)), in the event
of a subdivision of the outstanding Stock, a declaration of a dividend payable in Shares, a declaration of a dividend payable in a form other than Shares in an amount that has a material effect on the price of Shares, a combination or consolidation
of the outstanding Stock (by reclassification or otherwise) into a lesser number of Shares, a recapitalization, a spin-off or a similar occurrence, the Committee shall make such adjustments as it, in its sole discretion, deems appropriate in one or
more of: 
 (i) The number of Options, SARs, Restricted Shares and Stock Units available for future Awards under
Section 5; 
 (ii) The limitations set forth in Section 5(a) and (b); 
 (iii) The number of Shares covered by each outstanding Option and SAR; 
 (iv) The Exercise Price under each outstanding Option and SAR; or 
 (v) The number of Stock Units included in any prior Award which has not yet been settled. 
 Except as provided in this Section 12, a Participant shall have no rights by reason of any issue by the Company of stock of any class or securities convertible into
stock of any class, any subdivision or consolidation of shares of stock of any class, the payment of any stock dividend or any other increase or decrease in the number of shares of stock of any class. 
  

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 (b) Dissolution or Liquidation. To the extent not previously exercised or settled, Options, SARs
and Stock Units shall terminate immediately prior to the dissolution or liquidation of the Company. 
 (c) Reorganizations. In the
event that the Company is a party to a merger or other reorganization, outstanding Awards shall be subject to the agreement of merger or reorganization. Such agreement shall provide for: 
 (i) The continuation of the outstanding Awards by the Company, if the Company is a surviving corporation; 
 (ii) The assumption of the outstanding Awards by the surviving corporation or its parent or subsidiary; 
 (iii) The substitution by the surviving corporation or its parent or subsidiary of its own awards for the outstanding Awards; 

(iv) Full exercisability or vesting and accelerated expiration of the outstanding Awards; or 
 (v) Settlement of the full value of the outstanding Awards in cash or cash equivalents followed by cancellation of such Awards.

 (d) Reservation of Rights. Except as provided in this Section 12, an Optionee or Offeree shall have no rights by reason of any
subdivision or consolidation of shares of stock of any class, the payment of any dividend or any other increase or decrease in the number of shares of stock of any class. Any issue by the Company of shares of stock of any class, or securities
convertible into shares of stock of any class, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number or Exercise Price of Shares subject to an Option. The grant of an Option pursuant to the Plan shall not
affect in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes of its capital or business structure, to merge or consolidate or to dissolve, liquidate, sell or transfer all or any part of its
business or assets. 
 SECTION 13. DEFERRAL OF AWARDS. 
 The Committee (in its sole discretion) may permit or require a Participant to: 
 (a) Have cash that
otherwise would be paid to such Participant as a result of the exercise of a SAR or the settlement of Stock Units credited to a deferred compensation account established for such Participant by the Committee as an entry on the Company’s books;

 (b) Have Shares that otherwise would be delivered to such Participant as a result of the exercise of an Option or SAR converted into an
equal number of Stock Units; or 
  

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 (c) Have Shares that otherwise would be delivered to such Participant as a result of the exercise of an
Option or SAR or the settlement of Stock Units converted into amounts credited to a deferred compensation account established for such Participant by the Committee as an entry on the Company’s books. Such amounts shall be determined by
reference to the Fair Market Value of such Shares as of the date when they otherwise would have been delivered to such Participant. 
 A
deferred compensation account established under this Section 13 may be credited with interest or other forms of investment return, as determined by the Committee. A Participant for whom such an account is established shall have no rights other
than those of a general creditor of the Company. Such an account shall represent an unfunded and unsecured obligation of the Company and shall be subject to the terms and conditions of the applicable agreement between such Participant and the
Company. If the deferral or conversion of Awards is permitted or required, the Committee (in its sole discretion) may establish rules, procedures and forms pertaining to such Awards, including (without limitation) the settlement of deferred
compensation accounts established under this Section 13. 
 SECTION 14. AWARDS UNDER OTHER PLANS. 
 The Company may grant awards under other plans or programs. Such awards may be settled in the form of Shares issued under this Plan. Such Shares shall be
treated for all purposes under the Plan like Shares issued in settlement of Stock Units and shall, when issued, reduce the number of Shares available under Section 5. 
 SECTION 15. PAYMENT OF DIRECTOR’S FEES IN SECURITIES. 
 (a) Effective Date. No
provision of this Section 15 shall be effective unless and until the Board has determined to implement such provision. 
 (b)
Elections to Receive NSOs, Restricted Shares or Stock Units. An Outside Director may elect to receive his or her annual retainer payments and/or meeting fees from the Company in the form of cash, NSOs, Restricted Shares or Stock Units, or a
combination thereof, as determined by the Board. Such NSOs, Restricted Shares and Stock Units shall be issued under the Plan. An election under this Section 15 shall be filed with the Company on the prescribed form. 
 (c) Number and Terms of NSOs, Restricted Shares or Stock Units. The number of NSOs, Restricted Shares or Stock Units to be granted to Outside
Directors in lieu of annual retainers and meeting fees that would otherwise be paid in cash shall be calculated in a manner determined by the Board. The terms of such NSOs, Restricted Shares or Stock Units shall also be determined by the Board.

 SECTION 16. LEGAL AND REGULATORY REQUIREMENTS. 
 Shares shall not be issued under the Plan unless the issuance and delivery of such Shares complies with (or is exempt from) all applicable requirements of law, including (without 

  

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limitation) the Securities Act of 1933, as amended, the rules and regulations promulgated thereunder, state securities laws and regulations and the
regulations of any stock exchange on which the Company’s securities may then be listed, and the Company has obtained the approval or favorable ruling from any governmental agency which the Company determines is necessary or advisable.

 SECTION 17. WITHHOLDING TAXES. 
 (a) General. To the extent required by applicable federal, state, local or foreign law, a Participant or his or her successor shall make arrangements satisfactory to the Company for the satisfaction of any withholding tax obligations
that arise in connection with the Plan. The Company shall not be required to issue any Shares or make any cash payment under the Plan until such obligations are satisfied. 
 (b) Share Withholding. The Committee may permit a Participant to satisfy all or part of his or her withholding or income tax obligations by having
the Company withhold all or a portion of any Shares that otherwise would be issued to him or her or by surrendering all or a portion of any Shares that he or she previously acquired. Such Shares shall be valued at their Fair Market Value on the date
when taxes otherwise would be withheld in cash. In no event may a Participant have Shares withheld that would otherwise be issued to him or her in excess of the number necessary to satisfy the legally required minimum tax withholding. 
 SECTION 18. NO EMPLOYMENT RIGHTS. 
 No provision
of the Plan, nor any right or Option granted under the Plan, shall be construed to give any person any right to become, to be treated as, or to remain an Employee. The Company and its Subsidiaries reserve the right to terminate any person’s
Service at any time and for any reason, with or without notice. 
 SECTION 19. DURATION AND AMENDMENTS. 
 (a) Term of the Plan. The Plan, as set forth herein, shall terminate automatically ten (10) years after its adoption by the Board. The Plan
may be terminated on any earlier date pursuant to Subsection (b) below. 
 (b) Right to Amend or Terminate the Plan. The Board of
Directors may amend the Plan at any time and from time to time. Rights and obligations under any Award granted before amendment of the Plan shall not be materially impaired by such amendment, except with consent of the Participant. An amendment of
the Plan shall be subject to the approval of the Company’s shareholders only to the extent required by applicable laws, regulations or rules; provided, however, that an amendment of the Plan to increase the maximum aggregate number of Shares
that may be subject to Awards granted under the Plan shall require the approval of the Company’s shareholders. 
  

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 (c) Effect of Termination. No Awards shall be granted under the Plan after the termination
thereof. The termination of the Plan shall not affect any Award previously granted under the Plan. 
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 SECTION 20. EXECUTION. 
 To record the amendment and restatement of the Plan by the Board of Directors, the Company has caused its authorized officer to execute the same. 
  

			
	CALIFORNIA MICRO DEVICES CORPORATION
		
	By	 	/s/ Stephen M. Wurzburg
	Name	 	Stephen M. Wurzburg
	Title	 	Secretary

  

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