Document:

EX-10.2

 Exhibit 10.2 
 THE J. M. SMUCKER COMPANY 
 NONEMPLOYEE DIRECTOR DEFERRED COMPENSATION
PLAN 
 (AMENDED AND RESTATED EFFECTIVE JANUARY 1, 2014) 

ARTICLE I 

INTRODUCTION 
 1.1 Purpose of this Plan. The purpose of The J. M. Smucker Company Nonemployee Director Deferred Compensation Plan (this “Plan”) has been and continues to be to provide the nonemployee
directors (each, a “Director,” and collectively, the “Directors”) of The J. M. Smucker Company (the “Company”) with the opportunity to defer receipt of all or a portion of compensation received for services as a
Director, to set forth the rules with respect to the Deferred Stock Units granted annually to a Director as part of the Director’s compensation and to continue to align the common interest of Directors and shareholders in enhancing the value of
the Company’s Common Shares. For the avoidance of doubt and for clarification, this Plan will apply to (a) Deferred Stock Units credited to a Director’s Deferred Compensation Account upon the Director’s election to reduce his or
her cash compensation, (b) Deferred Stock Units granted to a Director as part of his or her annual Deferred Stock Unit award and credited to the Director’s Deferred Compensation Account pursuant to Section 4.1, and (c) dividend
equivalents paid on Deferred Stock Units described in subsections (a) and (b). 
 1.2 The Company adopts this amendment and
restatement on October 22, 2013, effective with respect to deferral of compensation received for services performed as a Director on or after January 1, 2014. 
 ARTICLE II 
 DEFINITIONS 

As used herein, the terms set forth below will have the following meanings: 

2.1 “Annual Subaccount” has the meaning assigned thereto in Section 3.3. 

2.2 “Board” means the Board of Directors of the Company. 

2.3 “Change in Control” has the meaning assigned thereto in the Company’s 2010 Equity and Incentive Compensation
Plan. 
 2.4 “Code” means the Internal Revenue Code of 1986, as amended. 

2.5 “Committee” means the Executive Compensation Committee of the Board. 

2.6 “Common Shares” means the common shares, without par value, of the Company. 

2.7 “Company” has the meaning assigned thereto in Section 1.1. 

 2.8 “Corporate Secretary” means Corporate Secretary of the Company,
or such person as the Corporate Secretary of the Company may expressly designate. 
 2.9 “Deferred Compensation
Account” has the meaning assigned thereto in Section 3.1 hereof. 
 2.10 “Deferred Stock Units”
means deferred stock units, each equivalent to one Common Share, credited to a Director’s Deferred Compensation Account pursuant to the terms of Section 3.3 or Section 4.1. 

2.11 “Director” has the meaning assigned thereto in Section 1.1. 

2.12 “Market Value per Share” means, as of any particular date, the last price at which the Common Shares trade
as reported on the New York Stock Exchange Composite Tape or, if not listed on such exchange, on any other national securities exchange on which the Common Shares are listed, or if there are no sales on such day, on the immediately preceding trading
day during which a sale occurred. If there is no regular trading market for such Common Shares, the Market Value per Share will be determined by the Board. 
 2.13 “Plan” has the meaning assigned thereto in Section 1.1. 

2.14 “Separation from Service” has the meaning assigned thereto in Section 5.1. 

ARTICLE III 

CASH COMPENSATION DEFERRAL AWARDS 
 3.1 Cash Compensation Deferral Election. Not later than December 31 of any calendar year, beginning with December 31, 2013 for the calendar year 2014, a Director may direct the Company
(a) to reduce the cash compensation payable to him or her (determined without regard to the provisions of this Section 3.1) for services as a Director during the next calendar year (including annual retainer and committee meeting fees) in
such amount as elected by the Director and (b) to credit the amount of such reduction to an account established in the name of the Director (a “Deferred Compensation Account”) with the amount of Deferred Stock Units described in
Section 3.3. If a Director does not have any deferral election form on file with the Corporate Secretary, he or she will receive his or her Director compensation for the year (that would otherwise be paid in cash) in cash on a current basis.

 3.2 Cash Compensation Deferral Payment Election. The election made pursuant to Section 3.1 will specify whether
Deferred Stock Units credited to the Deferred Compensation Account pursuant to Section 3.1 for the following year will be distributed to the Director (or his or her beneficiary): (a) in a lump sum payment or (b) in up to ten annual
installments. If a Director does not have an election form on file with the Corporate Secretary, the payment of the Deferred Stock Units credited to his or her Deferred Compensation Account for the following year pursuant to this Article III will be
made in a lump sum payment in accordance with Article V. 

  
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 3.3 Deferred Compensation Account. The Director’s Deferred Compensation Account
will be credited with a number of Deferred Stock Units equal to the cash amount identified in Section 3.1(a) that the Director has elected to defer divided by the Market Value per Share of one Common Share on the date on which such cash amount
would have otherwise been paid. Each Director’s Deferred Compensation Account will be subdivided into separate subaccounts for each year of participation (each, an “Annual Subaccount”). It is intended that the amount credited to each
Annual Subaccount pursuant to this Section 3.3 will be considered a separate amount of deferred compensation under Section 409A of the Code. As such, a separate payment election made under Section 3.2 may apply to each Annual
Subaccount. 
 3.4 Partial Years. If a Director first becomes a Director after January 1st of any calendar
year, the Director may direct the Company (a) to reduce the cash compensation payable to him or her for future services as a Director during such calendar year in such amount as elected by the Director and (b) to credit the amount of such
reduction to the Director’s Deferred Compensation Account. Any such election will be made within thirty (30) calendar days after an individual becomes a Director, will apply only to cash compensation for services as a Director performed
after the date of such election, and will include an election as to the form of payment as described in Section 3.2. 

3.5 Elections. All deferral elections described in this Article III will be made annually on an election form specified by the
Committee and delivered by a Director to the Corporate Secretary. The elections described in this Article III will remain in effect for future calendar years if a new written election form is not submitted. Any subsequent election or written
termination of election will become effective as of the first day of the calendar year following the calendar year in which the notice is given and will be effective only for cash compensation earned in such following calendar year and thereafter.

 3.6 Nonforfeitable Right. Each Deferred Stock Unit awarded under this Article III will be one hundred percent
(100%) vested upon the award of such Deferred Stock Unit.  
 3.7 Dividend Equivalents. Dividend
equivalents will be earned on Deferred Stock Units awarded under this Article III. Such dividend equivalents will be converted into equivalent amounts of Deferred Stock Units based on the Market Value per Share on the date the actual dividends on
Common Shares are paid and credited to the appropriate Annual Subaccount of each Director. Such dividend equivalents will be one hundred percent (100%) vested at all times and will be paid in the same manner and at the same time as the Deferred
Stock Units to which the dividend equivalents relate. 
 ARTICLE IV 

ANNUAL GRANT AWARDS 
 4.1 Annual Deferred Stock Unit Grant. Each October beginning in October, 2014, each Director’s Deferred Compensation Account will be credited with the number of Deferred Stock Units equal to
the cash amount established by the Committee for determining the annual grant of Deferred Stock Units divided by the Market Value per Share of one Common Share on the date of the grant. Each Director’s Deferred Compensation Account will be
subdivided into Annual Subaccounts to reflect each grant of Deferred Stock Units made under this Section 4.1. It is intended that the amount credited to each such Annual Subaccount pursuant to this Section 4.1 will be considered a separate
amount of deferred compensation under Section 409A of the Code. As such, a separate payment election made under Section 4.2 may apply to each Annual Subaccount. 

  
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 4.2 Annual Deferred Stock Unit Payment Election. Not later than December 31 of
any calendar year, beginning with December 31, 2013 for the calendar year 2014, a Director will specify whether Deferred Stock Units credited to his or her Deferred Compensation Account for the following year pursuant to this Article IV will be
distributed to the Director (or his or her beneficiary): (a) in a lump sum payment or (b) in up to ten annual installments. If a Director does not have an election form on file with the Corporate Secretary, the payment of the Deferred
Stock Units credited to his or her Deferred Compensation Account for the following year pursuant to this Article IV will be made in a lump sum payment in accordance with Article V. 

4.3 Partial Years. If a Director first becomes a Director after January 1st of any calendar year, the Director may
make the payment election described in Section 4.2 with respect to an initial grant of Deferred Stock Units within thirty (30) calendar days after becoming a Director, provided that such election will apply only to compensation for
services as a Director performed after the date of such election. 
 4.4 Elections. All payment elections
described in this Article IV will be made annually on an election form specified by the Committee and delivered by a Director to the Corporate Secretary. The election described in this Article IV will remain in effect for future calendar years if a
new written election form is not submitted. Any subsequent election or written termination of election will become effective as of the first day of the calendar year following the calendar year in which the notice is given and will be effective only
for compensation earned in such following calendar year and thereafter. 
 4.5 Nonforfeitable Right. Each Deferred
Stock Unit awarded under this Article IV will be one hundred percent (100%) vested upon the award of such Deferred Stock Unit.  
 4.6 Dividend Equivalents. Dividend equivalents will be earned on Deferred Stock Units awarded under this Article IV. Such dividend equivalents will be converted into equivalent amounts of
Deferred Stock Units based on the Market Value per Share on the date the actual dividends on Common Shares are paid and credited to the appropriate Annual Subaccount of each Director. Such dividend equivalents will be one hundred percent
(100%) vested at all times and will be paid in the same manner and at the same time as the Deferred Stock Units to which the dividend equivalents relate. 
 ARTICLE V 
 PAYMENT OF ACCOUNTS 

5.1 Time of Payment. Distribution of Deferred Stock Units in each Annual Subaccount included in a Director’s Deferred
Compensation Account will be made or commence in the manner described in Section 5.2 hereof as soon as is reasonably practicable, but not later than sixty (60) calendar days, after a Director’s “separation from service” (as
defined under Section 409A of the Code and Treasury Regulation Section §1.409A-1(h)(2) (a “Separation from Service”)). Notwithstanding anything to the contrary contained in this Plan (or in any election relating to this Plan), if
a Change in Control of the Company occurs (but only to the extent the  

  
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event constitutes a change “in the ownership or effective control” of the Company, or “in the ownership of a substantial portion of the assets” of the Company (as determined
under Section 409A of the Code and the regulations promulgated thereunder)), the distribution of the Director’s entire Deferred Compensation Account will be made in a lump sum as soon as practicable, but not later than sixty
(60) calendar days, following the date of the Change in Control. 
 5.2 Method of Distribution. The Deferred Stock
Units credited to each of the Director’s Annual Subaccounts of his or her Deferred Compensation Account (including those converted from dividend equivalents) will be distributed or commence to be distributed to the Director or the
Director’s beneficiary at the time described in Section 5.1 hereof and, except as provided in Section 5.1 with respect to a Change in Control, in the manner specified in the Director’s payment election under Section 3.2 or
Section 4.2 with respect to such Annual Subaccount. The amount of any installment payment with respect to an Annual Subaccount in the Director’s Deferred Compensation Account will be calculated by dividing the number of Deferred Stock
Units in such Annual Subaccount at the time of each such payment by the number of remaining installments in such Annual Subaccount (including the current installment). Notwithstanding anything to the contrary contained in this Plan (or in any
election relating to this Plan), if the aggregate amount credited to any Director’s Deferred Compensation Account is less than $50,000 on the date of the Director’s Separation from Service, the distribution of the Director’s entire
Deferred Compensation Account will be made in a lump sum as soon as is reasonably practicable, but not later than sixty (60) calendar days, following the Director’s Separation from Service. 

5.3 Form of Payment. The Deferred Stock Units will be distributed in Common Shares on a one-for-one basis. Fractional
shares will be rounded down to the nearest whole Common Share, and any remainder will be paid in cash. 
 5.4
Designation of Beneficiary. Each Director participating in this Plan will designate a beneficiary or beneficiaries to whom distribution will be made in the event of the death of the Director before his or her entire Deferred Compensation
Account is distributed and, in such case, the balance of the Director’s Deferred Compensation Account will be distributed to the beneficiary or beneficiaries in a lump sum as soon as is reasonably practicable, but not later than sixty
(60) calendar days following the Director’s death, even if the Director elected distribution in installments. If there is no designated beneficiary, or no designated beneficiary surviving at a Director’s death, the Director’s
beneficiary will be his or her estate. Beneficiary designations will be made in writing and will be delivered by a Director to the Corporate Secretary. A Director may designate a new beneficiary or beneficiaries at any time by delivering a new
election to the Corporate Secretary. 
 5.5 Changes to Prior Elections. Changes to a prior election of the form of
payment with respect to amounts in a Director’s Annual Subaccount may be made, provided that the election satisfies the following requirements: (a) a change of election will not be effective until at least twelve (12) months after the
date on which it is filed by the Director with the Corporate Secretary; (b) a change of election with respect to a payment commencing on, or made on, a specified date may not be filed with the Corporate Secretary less than twelve
(12) months prior to such date; and (c) a change of election with respect to a time of payment or a method of payment must provide that the payment subject to the change be deferred for a period of not less

  
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than five (5) years from the date such payment would otherwise have been made except in the event of a payment made on account of the Director’s death or total disability (as defined in
Section 409A of the Code and the regulations promulgated thereunder). 
 5.6 Taxes. In the event any taxes
are required by law to be withheld or paid from any distributions made pursuant to this Plan, the Company (or any trustee, if applicable) will deduct such amounts from such distributions and will transmit the withheld amounts to the appropriate
taxing authority. 
 ARTICLE VI 
 FUNDING; CREDITORS AND INSOLVENCY 
 6.1 Funding Mechanism for
Deferred Stock Units. The Company will be entitled, but not obligated, to establish a grantor trust or similar funding mechanism to fund the Company’s obligations under this Plan; provided, however, that any funds contained therein will
remain subject to the claims of the Company’s general creditors. The funding mechanism will constitute an unfunded arrangement. 
 6.2 Claims of the Company’s Creditors. The Company’s obligation under this Plan will be merely that of an unfunded and unsecured promise of the Company to pay benefits in the future. All
Deferred Stock Units (and any corresponding assets held in a trust established for this Plan), and any payment to be made pursuant to this Plan, will be subject to the claims of the general creditors of the Company, including judgment creditors and
bankruptcy creditors. Neither any Director, nor his or her beneficiaries, nor his or her heirs, successors or assigns, will have any secured interest in or claim on any property or assets of the Company (or of any trust). The rights of a Director or
his or her beneficiaries to his or her Deferred Compensation Account and to the Deferred Stock Units (and to any assets held in trust) will be no greater than the rights of an unsecured creditor of the Company. 

ARTICLE VII 

ADMINISTRATION 
 7.1 Powers of the Committee. The Committee, or other committee as may be expressly delegated by the Committee, will administer this Plan and resolve all questions of interpretation arising
under this Plan. The Committee, or other committee as may be expressly delegated by the Committee, will have no discretion with respect to Plan contributions or distributions, but will act in an administrative capacity only. 

7.2 Indemnity of Committee. The Company will indemnify the members of the Committee, and any other committee that may
administer this Plan as set forth in Section 7.1, against all claims, losses, damages, expenses and liabilities arising from any action or failure to act with respect to this Plan to the extent provided in the Code of Regulations of the Company
and any applicable indemnification agreement between the Company and such member. 

  
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 ARTICLE VIII 
 MISCELLANEOUS 
 8.1 Term of Plan. The Company reserves the
right to amend this Plan or terminate this Plan at any time; provided, however, that no amendment or termination will affect the rights of Directors to amounts previously credited to their Deferred Compensation Accounts or to additional credits of
Deferred Stock Units pursuant to Section 3.7 and Section 4.6 hereof; and provided further, that no amendment or termination will apply to the then current plan year, except as permitted under Section 409A of the Code. This Plan will
remain in effect until such time as all Deferred Stock Units are distributed pursuant to Article V hereof. 
 8.2
Adjustments. In the event that, after the effective date of this Plan (as provided in Section 8.9 below), the number of outstanding Common Shares is increased or decreased or such shares are exchanged for a different number or kind of
shares or other securities by reason of a recapitalization, reclassification, stock split-up or combination of shares, adjustments will be made by the Board in the number and kind of shares or other securities that are underlying Deferred Stock
Units and/or credited to Deferred Compensation Accounts hereunder and that will be issued under this Plan. 
 8.3
Assignment. No right or interest of any Director or his or her beneficiary (or any person claiming through or under such Director or his or her beneficiary) in any benefit or payment herefrom will be assignable or transferable in any manner
or be subject to alienation, anticipation, sale, pledge, encumbrance or other legal process or in any manner be liable for or subject to the debts or liabilities of such Director. 

8.4 Tax Effect. This Plan is intended to be treated as an unfunded deferred compensation plan under the Code. It is the
intention of the Company that the Deferred Stock Units credited to the Directors’ Deferred Compensation Accounts pursuant to this Plan will not be included in the gross income of the Directors or their beneficiaries until such time as such
Deferred Stock Units are distributed from this Plan. If, at any time, it is determined by the Company that the Deferred Stock Units, or amounts attributable to Directors’ compensation reduction elections or Deferred Compensation Accounts are
includible in the gross income of the Directors or their beneficiaries before distribution pursuant to Article V hereof due to a failure to comply with Section 409A of the Code, such amounts to the extent required to be included in income will
be immediately distributed to the respective Directors or, in the case of deceased Directors, their beneficiaries. 

8.5 Governing Law. This Plan will be governed by and construed in accordance with the laws of the United States, and to the
extent not preempted by such laws, by the internal substantive laws of the State of Ohio. 
 8.6 Successors.
The provisions of this Plan will bind and inure to the benefit of the Company and its successors and assigns. The term “successors” as used herein will include any corporate or other business entity which will, whether by merger,
consolidation, purchase or otherwise, acquire all or substantially all of the business and assets of the Company and successors of any such corporation or other business entity. 

  
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 8.7 No Right to Continued Service. Nothing contained herein will be construed
to confer upon any Director the right to continue to serve as a Director of the Company or in any other capacity. 
 8.8
Section 409A of the Code. It is intended that this Plan (including any amendments hereto) comply with the provisions of Section 409A of the Code so as to prevent the inclusion in gross income of any Deferred Stock Units credited to
a Director’s Deferred Compensation Account hereunder in a taxable year that is prior to the taxable year or years in which such amounts would otherwise be actually distributed or made available to the Director. This Plan will be administered in
a manner that will comply with Section 409A of the Code, including proposed, temporary or final regulations or any other guidance issued by the Secretary of the Treasury and the Internal Revenue Service with respect thereto. Any Plan provision
that would cause this Plan to fail to satisfy Section 409A of the Code will have no force and effect. 
 8.9 Effective
Date. The effective date of this Plan and the Amendment and Restatement of this Plan is January 1, 2014. 
 8.10
Distributions Subject to Tax. Notwithstanding the above provisions, if, at any time, a court or the Internal Revenue Service determines that an amount in a Director’s Deferred Compensation Account is includable in the gross income of the
Director and subject to tax, the Committee may, in its sole discretion, permit a lump sum distribution of an amount equal to the amount determined to be includable in the Director’s gross income. 

8.11 Distributions in Violation of Securities Laws. Notwithstanding the above provisions, a payment under this Plan may be
delayed if the Company reasonably anticipates, in its sole discretion, that the making of such payment will violate Federal securities laws or other applicable law, provided that such payment is made on the earliest date at which the Company
reasonably anticipates that the making of the payment will not cause such violation. 

  
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 Exhibit 4.1 
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  

RECEIVABLES PURCHASE AGREEMENT 

Dated as of February 4, 2003 
  

 
  

					
		 	  
	 	

  
 WORLD’S FOREMOST BANK, NATIONAL
ASSOCIATION, 
 RPA Seller, 
  

and 
  

WFB FUNDING, LLC, 
 Purchaser

  
  
  

 
  
  

 
 CABELA’S MASTER CREDIT CARD

  
  

 

 TABLE OF CONTENTS 
  

							
	 	 	 	  	Page	 
	
	ARTICLE I	  
	
	DEFINITIONS	  
			
	 Section 1.01.
	 	 Definitions
	  	 	1  	  
	 Section 1.02.
	 	 Other Definitional Provisions
	  	 	6  	  
	
	ARTICLE II	  
	
	SALE AND CONTRIBUTION OF RECEIVABLES	  
			
	 Section 2.01.
	 	 Sales and Contributions
	  	 	7  	  
	 Section 2.02.
	 	 Addition of Additional Accounts
	  	 	9  	  
	 Section 2.03.
	 	 Removal of Accounts
	  	 	10  	  
	
	ARTICLE III	  
	
	CONSIDERATION AND PAYMENT	  
			
	 Section 3.01.
	 	 Purchase Price
	  	 	10  	  
	 Section 3.02.
	 	 Adjustments to Purchase Price
	  	 	11  	  
	 Section 3.03.
	 	 Settlement and Ongoing Payment of Purchase Price
	  	 	12  	  
	
	ARTICLE IV	  
	
	REPRESENTATIONS AND WARRANTIES	  
			
	 Section 4.01.
	 	 Representations and Warranties of RPA Seller Relating to RPA Seller
	  	 	12  	  
	 Section 4.02.
	 	 Representations and Warranties of RPA Seller Relating to the Agreement and the Receivables
	  	 	14  	  
	 Section 4.03.
	 	 Representations and Warranties of Purchaser
	  	 	16  	  
	
	ARTICLE V	  
		
	 RPA SELLER COVENANTS
	  	 	18  	  
	
	ARTICLE VI	  
	
	REPURCHASE OBLIGATION	  
			
	 Section 6.01.
	 	 Reassignment of Ineligible Receivables
	  	 	22  	  
	 Section 6.02.
	 	 Reassignment of Holders’ Interest in Trust Portfolio
	  	 	23  	  
	 Section 6.03.
	 	 Conveyance of Reassigned Receivables
	  	 	23  	  

							
	ARTICLE VII	  
	
	CONDITIONS PRECEDENT	  
			
	 Section 7.01.
	 	 Conditions to Purchase
	  	 	23  	  
	 Section 7.02.
	 	 Conditions to Purchaser’s Obligations Regarding Additional Receivables
	  	 	24  	  
	 Section 7.03.
	 	 Conditions Precedent to Obligations of RPA Seller
	  	 	24  	  
	
	ARTICLE VIII	  
	
	TERM AND PURCHASE TERMINATION	  
			
	 Section 8.01.
	 	 Term
	  	 	24  	  
	 Section 8.02.
	 	 Purchase Termination
	  	 	24  	  
	
	ARTICLE IX	  
	
	MISCELLANEOUS PROVISIONS	  
			
	 Section 9.01.
	 	 Amendment
	  	 	25  	  
	 Section 9.02.
	 	 GOVERNING LAW
	  	 	25  	  
	 Section 9.03.
	 	 Notices
	  	 	25  	  
	 Section 9.04.
	 	 Severability of Provisions
	  	 	25  	  
	 Section 9.05.
	 	 Merger or Consolidation of, or Assumption of the Obligations of, RPA Seller
	  	 	26  	  
	 Section 9.06.
	 	 Acknowledgement and Agreement of RPA Seller
	  	 	27  	  
	 Section 9.07.
	 	 Further Assurances
	  	 	27  	  
	 Section 9.08.
	 	 Nonpetition Covenant
	  	 	27  	  
	 Section 9.09.
	 	 No Waiver; Cumulative Remedies
	  	 	28  	  
	 Section 9.10.
	 	 Counterparts
	  	 	28  	  
	 Section 9.11.
	 	 Binding Third-Party Beneficiaries
	  	 	28  	  
	 Section 9.12.
	 	 Merger and Integration
	  	 	28  	  
	 Section 9.13.
	 	 Schedules and Exhibits
	  	 	28  	  

  

			
	 EXHIBIT A
	 	 FORM OF SUPPLEMENTAL CONVEYANCE

	 EXHIBIT B
	 	 FORM OF SUBORDINATED NOTE

	 EXHIBIT C
	 	 FORM OF OPINION OF COUNSEL

	 EXHIBIT D
	 	 FORM OF ANNUAL OPINION OF COUNSEL

	 SCHEDULE I
	 	 ACCOUNT SCHEDULE—DELIVERED AS COMPUTER FILE OR MICROFICHE

 RECEIVABLES PURCHASE AGREEMENT 

RECEIVABLES PURCHASE AGREEMENT (this “Agreement”), dated as of February 4, 2003 between WORLD’S
FOREMOST BANK, NATIONAL ASSOCIATION, a CEBA credit card bank (the “Bank”), as seller (“RPA Seller”) and WFB FUNDING, LLC, a Nebraska limited liability company, as purchaser (“Purchaser”). 

R E C I T A L S: 

WHEREAS, Purchaser desires to purchase, from time to time, certain Receivables arising under certain specified Accounts of RPA
Seller; and 
 WHEREAS, RPA Seller desires to sell and assign such Receivables to Purchaser, from time to time, upon the
terms and conditions hereinafter set forth; and 
 WHEREAS, the Receivables purchased hereunder will be transferred by
Purchaser to U.S. Bank, National Association, as trustee (the “Trustee”) on behalf of the Certificateholders of the Cabela’s Master Credit Card Trust (the “Certificate Trust”), pursuant to the Amended and Restated Pooling
and Servicing Agreement dated as of the date hereof (as hereafter amended and supplemented, the “Pooling and Servicing Agreement”) among Purchaser, as transferor, RPA Seller, as servicer, and Trustee in connection with the issuance of
certain Investor Certificates. 
 NOW, THEREFORE, it is hereby agreed by and between Purchaser and RPA Seller as follows:

 ARTICLE I 

DEFINITIONS 

Section 1.01. Definitions.   Each capitalized term used herein or in any certificate,
document, or Conveyance Paper made or delivered pursuant hereto, and not defined herein or therein, shall have the meaning (if any) specified in the Pooling and Servicing Agreement. In addition, the following words and phrases shall have the
following meanings: 
 “Closing Date” means any “Closing Date” (as defined in the Pooling and
Servicing Agreement). 
 “Credit Enhancement Provider” means any “Credit Enhancement Provider”
(as defined in the Pooling and Servicing Agreement). 
 “Eligible Account” shall mean, as of the Cut Off
Date (or, with respect to Additional Accounts as of the relevant Addition Date), each Account owned by RPA Seller, other than Business Accounts: 

(a)      which is in existence and maintained with RPA Seller; 

  
 1 

 (b)      which is payable in
Dollars; 
 (c)      the Obligor on which has provided, as its most recent
billing address, an address which is located in the United States or its territories or possessions; 

(d)      which RPA Seller has not classified on its electronic records as
counterfeit, cancelled, bankrupt, fraudulent, stolen or lost; 

(e)      which RPA Seller has not charged off in its customary and usual manner
for charging off such Accounts as of the Cut Off Date (or, with respect to Additional Accounts, as of the relevant Addition Date); 

(f)      the Obligor on which has not been identified by RPA Seller as being
deceased; 
 (g)      the Obligor on which is not a federal, state or local
government or agency or instrumentality thereof; 
 (h)      which has not
been sold or pledged to any other party; and 
 (i)      which does not
contain a Receivable that has been sold or pledged to any other party. 
 “Eligible Receivable” shall mean
each Receivable: 
 (a)      which has arisen under an Eligible Account
(on the Cut Off Date, in the case of Accounts designated to the Certificate Trust on the Initial Closing Date and, on each Addition Date, in the case of Additional Accounts); 

(b)      which was created in compliance, in all material respects, with all
Requirements of Law applicable to RPA Seller and pursuant to a Credit Card Agreement which complies, in all material respects, with all Requirements of Law applicable to RPA Seller; 

(c)      with respect to which all consents, licenses, approvals or
authorizations of, or registrations or declarations with, any Governmental Authority required to be obtained, effected or given by RPA Seller in connection with the creation of such Receivable or the execution, delivery and performance by RPA Seller
of the Credit Card Agreement pursuant to which such Receivable was created, have been duly obtained, effected or given and are in full force and effect as of such date of creation; 

(d)      as to which, at the time of and at all times after the creation of such
Receivable, RPA Seller, Purchaser or the Certificate Trust had good and marketable title thereto, free and clear of all Liens; 

(e)      which at all times will be the legal, valid and binding payment
obligation of the Obligor thereon, enforceable against such Obligor in accordance with its terms, 

  
 2 

 
except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws, now or hereafter in effect, affecting the enforcement of
creditors’ rights in general and except as such enforceability may be limited by general principles of equity (whether considered in a suit at law or in equity); 

(f)       which constitutes an “account” under and as defined in
Article 9 of the UCC as then in effect in the applicable jurisdiction; 

(g)      which is no more than 90 days past due as of the Cut Off Date or
Addition Date, as applicable; 
 (h)      which does not have an account
holder known by RPA Seller to be deceased; 
 (i)       that has been the
subject of either a valid transfer and assignment from RPA Seller to the Purchaser of all RPA Seller’s right, title and interest therein or the grant of a first priority perfected security interest therein (and in the proceeds thereof),
effective until the termination of the Certificate Trust; 

(j)       that, at the time of its transfer to the Purchaser, has not been
waived or modified except as permitted hereunder; 
 (k)      as to which, at
the time of its transfer to the Purchaser, RPA Seller has satisfied all obligations to be fulfilled at the time that it is transferred to the Purchaser; 

(l)       that at the time of its transfer to the Purchaser, is not subject
to any setoff, right of rescission, counterclaim, or other defense of the Obligor (including the defense of usury), other than defenses arising out of applicable bankruptcy, insolvency, reorganization, moratorium, or other similar laws affecting the
enforcement of creditors’ rights in general; and 
 (m)     as to which, at
the time of its transfer to the Purchaser, RPA Seller has not taken any action that would, or failed to take any action the omission of which would, at the time of its transfer to the Certificate Trust, impair the rights of the Purchaser or the
Purchaser or its assignees. 
 “Enhancement” means any “Credit Enhancement” (as defined in the
Pooling and Servicing Agreement). 
 “Existing Assets” means (i) the Transferor Interest (as defined
in the Pooling and Servicing Agreement), (ii) the Receivables existing at the opening of business on the Effective Date and arising from the Accounts, (iii) all Related Assets with respect to such Receivables, (iv) all right, title
and interest of RPA Seller (in its capacity as Transferor (as defined in the Existing PSA) but not as Servicer (as defined in the Pooling and Servicing Agreement)) under the Existing PSA and the other Transaction Documents (as defined in the Pooling
and Servicing Agreement), including any loan agreements and Supplements executed in connection with any Series of Investor Certificates and (v) all right, title and interest of RPA Seller, in its capacity as

  
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Transferor under (and as defined in) the Existing PSA to any funds on deposit in any Series Account (as defined in the Existing PSA) maintained for the benefit of any Series or Class of Investor
Certificates. 
 “Holders” means the Certificateholders (as defined in the Pooling and Servicing
Agreement). 
 “Pay Out Event” means with respect to any Series of Investor Certificates, a Pay Out Event
(as defined in the Pooling and Servicing Agreement and the applicable Supplement) for such Series. 
 “Perfection
Representations and Warranties” shall mean the representations and warranties set forth below: 

(a)      General.  This Agreement creates a valid and
continuing security interest (as defined in the applicable UCC) in the Receivables and the proceeds thereof in favor of the Purchaser and the Trustee as its assignee, which (i) in the case of existing Receivables and the proceeds thereof, is
enforceable upon execution of this Agreement against creditors of and purchasers from RPA Seller, or with respect to then existing Receivables in Additional Accounts, as of the applicable Addition Date, and which will be enforceable with respect to
Receivables hereafter and thereafter created and the proceeds thereof upon such creation, in each case as such enforceability may be limited by applicable Debtor Relief Laws, now or hereafter in effect, and by general principles of equity (whether
considered in a suit at law or in equity) and (ii) upon filing of the financing statements described in subparagraph (d) below and, in the case of Receivables hereafter created, upon the creation thereof, will be prior to all other Liens.

 (b)      Accounts.  The Receivables constitute
“accounts” within the meaning of UCC Section 9-102. 

(c)      Creation.  Immediately prior to the conveyance of the
Receivables pursuant to this Agreement, the RPA Seller or the Certificate Trust owns and has good and marketable title to the Receivables free and clear of any Lien, claim or encumbrance of any Person. 

(d)      Perfection.  RPA Seller has caused or will have
caused, within ten days of the Effective Date, the filing of all appropriate financing statements in the proper filing office in the appropriate jurisdictions under applicable law in order to perfect the security interest granted by RPA Seller
to Purchaser and the Trustee as its assignee under this Agreement in the Receivables arising in the Accounts designated to the Certificate Trust as of the Effective Date, and (if any additional filing is so necessary) within 10 days of the
applicable Addition Date, in the case of such Receivables arising in Additional Accounts. 

(e)      Priority.  Other than the security interest granted to
the Certificate Trust pursuant to the Existing PSA, the RPA Seller has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the Receivables. RPA Seller has not 

  
 4 

 
authorized the filing of and is not aware of any financing statements against RPA Seller that include a description of collateral covering the Receivables other than any financing statement
(i) relating to the security interest granted to Certificate Trust under the Existing PSA or (ii) that has been terminated. 

(f)      Judgments, Tax Liens.  RPA Seller is not aware of any
judgments or tax lien filings against RPA Seller. 
 “Purchaser Documents” means this Agreement and each
other Transaction Document to which Purchaser is a party. 
 “Purchaser Tangible Equity”
means, at any date of determination, an amount equal to: 
 (a)      the
Transferor Interest, plus 
 (b)      the aggregate amount on deposit in all
cash collateral accounts or spread accounts established for the benefit of any Series or Class of Investor Certificates; minus 

(c)      the outstanding balance of the Subordinated Note; plus 

(d)      the “Purchaser Tangible Equity” or similar amounts for any
transactions other than the Pooling and Servicing Agreement to which the Purchaser is a party. 
 “Rating
Agency” means with respect to any Series of Investor Certificates, a “Rating Agency” (as defined in the Pooling and Servicing Agreement) for such Series. 

“Rating Agency Condition” means, with respect to any action, that each Rating Agency shall have notified the
Transferor, the Servicer and the Trustee in writing that such action will not result in a reduction or withdrawal of the rating of any outstanding Series or Class to which it is a Rating Agency. 

“Related Assets” means, with respect to any Receivable, all monies due or to become due with respect thereto
(including all Finance Charge Receivables), all amounts received or receivable with respect thereto, all proceeds of such Receivable, all Insurance Proceeds, all Interchange and all Recoveries relating to such Receivable, and all proceeds of the
foregoing. 
 “Removed Account” means each Account removed from the operation of this
Agreement. 
 “Required Purchaser Tangible Equity” means, at any date of determination, the
sum of: 
 (a)      the product of (i) the Transferor Interest,
multiplied by (ii) the higher of (A) 3% and (B) the highest required enhancement percentage then in effect for any outstanding Class of Investor Certificates that was rated “BBB” (or an equivalent rating) by any Rating
Agency at the time of its issuance, which shall be calculated as the quotient (expressed as a percentage) of (x) the amount of Credit Enhancement (including any cash collateral account, the subordination of other Classes of Investor
Certificates or the subordination of other interests in the Receivables) that is available or junior to such 

  
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Class in covering Investor Charge Offs allocated to the related Series, divided by (y) the Investor Interest of such Class of Investor Certificates and each other Class of Investor
Certificates of such Series that is senior to such Class in covering Investor Charge Offs allocated to the related Series (in each case, without giving effect to any unreimbursed Investor Charge Offs allocated to such Class); 

(b)      the aggregate amount on deposit in all cash collateral accounts or
spread accounts established for the benefit of any Series or Class of Investor Certificates; plus 

(c)      the “Required Purchaser Tangible Equity” or other similar
amounts for any transactions other than the Pooling and Servicing Agreement to which the Purchaser is a party. 

“RPA Seller Documents” means this Agreement and each other Transaction Document to which RPA Seller is a
party. 
 “Series” means any “Series” (as defined in the Pooling and Servicing Agreement). 

“Subordinated Note” means the subordinated note executed by Purchaser in favor of RPA Seller dated as of the
date hereof, substantially in the form of Exhibit B hereto. 
 “Supplement” means any
“Supplement” to (and as defined in) the Pooling and Servicing Agreement. 
 “Transaction
Documents” means the “Transaction Documents” (as defined in the Pooling and Servicing Agreement). 

Section 1.02.  Other Definitional Provisions.  All terms defined directly or by reference in
this Agreement shall have the defined meanings when used in any certificate or other document delivered pursuant hereto unless otherwise defined therein. For purposes of this Agreement and all such certificates and other documents, unless the
context otherwise requires: (i) accounting terms not otherwise defined in this Agreement, and accounting terms partly defined in this Agreement to the extent not defined, shall have the respective meanings given to them under generally accepted
accounting principles; (ii) terms defined in Article 9 of the UCC as in effect in the State of Nebraska and not otherwise defined in this Agreement are used as defined in that Article; (iii) any reference to each Rating Agency shall
only apply to any specific rating agency if such rating agency is then rating the applicable outstanding Series at the request of the Transferor; (iv) references to any amount as “on deposit” or “outstanding” on any
particular date means such amount at the close of business on such day; (v) the words “hereof,” “herein” and “hereunder” and words of similar import refer to this Agreement (or the certificate or other document in
which they are used) as a whole and not to any particular provision of this Agreement (or such certificate or document); (vi) references to any Section, Schedule or Exhibit are references to Sections, Schedules and Exhibits in or to this
Agreement (or the certificate or other document in which the reference is made), and references to any paragraph, Section, clause or other subdivision within any Section or definition refer to such paragraph, subsection, clause or other subdivision
of such Section or definition; (vii) the term “including” means “including without limitation”; (viii) references to any law or regulation refer to that law or regulation as

  
 6 

 
amended from time to time and include any successor law or regulation; (ix) references to any Person include that Person’s successors and assigns; and (x) headings are for purposes
of reference only and shall not otherwise affect the meaning or interpretation of any provision hereof. 
 ARTICLE II 

SALE AND CONTRIBUTION OF RECEIVABLES 

Section 2.01.  Sales and Contributions. 

(a)      In consideration of the membership interest in Purchaser held by RPA
Seller, RPA Seller agrees to contribute, and does hereby contribute to Purchaser, and Purchaser agrees to accept, and does hereby accept, from RPA Seller on the Effective Date, $31,377,519.00 of Existing Assets. The Existing Assets not so
contributed to Purchaser on the Effective Date are hereby sold, transferred, set over, assigned and otherwise conveyed by RPA Seller to Purchaser for a purchase price to be agreed to by RPA Seller and Purchaser, which purchase price shall be payable
on the Effective Date and shall equal the fair market value of the Existing Assets as determined by RPA Seller and Purchaser. The purchase price for the Existing Assets (other than Existing Assets contributed to Purchaser) shall be deemed to be a
borrowing under the Subordinated Note. The contribution and sale of the Existing Assets from RPA Seller to Purchaser are subject in each case to any rights in the Existing Assets transferred, assigned, set over or otherwise conveyed to the Trustee
pursuant to the Pooling and Servicing Agreement. It is understood and agreed that the obligations of RPA Seller specified herein with respect to the Receivables, including its repurchase obligations under Article VI of this Agreement, shall
apply to all Receivables, whether originated before, on or after the Effective Date and whether sold or contributed hereunder. RPA Seller and Purchaser hereby agree that each existing Receivable sold by RPA Seller to the Certificate Trust pursuant
to the Pooling and Servicing Agreement before the Effective Date shall be deemed to have been sold by RPA Seller to Purchaser on the date on which it was so sold to the Certificate Trust. 

(b)      RPA Seller hereby transfers, assigns, sets over and otherwise conveys
to Purchaser without recourse (except as expressly provided herein), and Purchaser purchases and/or accepts as a capital contribution, as applicable, from RPA Seller, all of RPA Seller’s right, title and interest in and to the Receivables
arising from time to time in the Accounts and Related Assets with respect thereto (other than the Existing Assets); provided, however, that Principal Receivables originated after the occurrence of an Insolvency Event with respect to RPA Seller or
Purchaser shall not be conveyed hereunder. 
 (c)      RPA Seller agrees
(i) to record and file, at its own expense, financing statements (and continuation statements and amendments when applicable) with respect to the Receivables now existing and hereafter created, meeting the requirements of applicable state law
in such manner and in such jurisdictions as are necessary to perfect, 

  
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and maintain perfection of, the conveyance of the Receivables and the Related Assets to Purchaser and the first priority nature of Purchaser’s interest in the Receivables and the Related
Assets and (ii) to deliver a file-stamped copy of such financing statements and amendments or other evidence of such filings to Purchaser and Trustee (which evidence may, for purposes of this
Section 2.01, consist of telephone confirmation of such filing to Purchaser and Trustee, followed by delivery of a file stamped copy to Trustee with a copy to Purchaser as soon as is practicable after filing) on or prior to the Effective Date,
and in the case of any continuation statements or amendments filed pursuant to this Section 2.01, as soon as practicable after receipt thereof by RPA Seller. 

(d)      RPA Seller further agrees, at its own expense, (i) on or prior to
(A) the Effective Date, in the case of any Accounts designated to the Certificate Trust prior to such date (and not subsequently removed), (B) the applicable Addition Date, in the case of Additional Accounts and (C) the applicable
Removal Date, in the case of Removed Accounts, to indicate in its appropriate computer files that Receivables created in connection with the Accounts (other than Removed Accounts) have been sold to Purchaser pursuant to this Agreement and
transferred by Purchaser to the Certificate Trust pursuant to the Pooling and Servicing Agreement for the benefit of the Holders by identifying such Accounts in the Pool Index File with the designation “S” (or, in the case of Removed
Accounts, deleting such code) and (ii) on or prior to the Effective Date to deliver to Purchaser and Trustee a computer file or microfiche list specifying for each such Account designated to the Certificate Trust prior to such date (and not
subsequently removed), as of the most recent calendar month end, its account number, the aggregate amount outstanding in such Account and the aggregate amount of Principal Receivables outstanding in such Account (the “Account Schedule”).
The Account Schedule shall be supplemented from time to time to reflect Additional Accounts and Removed Accounts. Once the code referenced in clause (i) of this paragraph has been included with respect to any Account, RPA Seller further agrees
not to alter such code during the term of this Agreement unless and until (x) such Account becomes a Removed Account or (y) RPA Seller shall have delivered to Purchaser and Trustee at least thirty (30) days’ prior written notice
of its intention to do so and has taken such action as is necessary or advisable to cause the respective interests of Purchaser and Trustee in the Receivables and other Related Assets to continue to be perfected with the priority required by this
Agreement and the Pooling and Servicing Agreement, respectively. 

(e)      It is the intention of the parties hereto that the conveyances of the
Existing Assets, the Receivables and the other Related Assets by RPA Seller to Purchaser as provided in this Section 2.01 be, and be construed as, absolute sales or capital contributions, including for accounting purposes, without recourse
except as explicitly provided herein, of the Existing Assets, the Receivables and the other Related Assets by RPA Seller to Purchaser. Furthermore, it is not intended that such conveyance be deemed a pledge of the Existing Assets, the Receivables
and the other Related Assets by RPA Seller to Purchaser to secure a debt or other obligation of RPA Seller. If, however, notwithstanding the intention of the parties, the conveyance provided for in this Section 2.01 is determined to be a
transfer for security, then this Agreement shall be deemed to be a security agreement and RPA Seller hereby grants to Purchaser a security interest in all of RPA Seller’s right, title and interest in and to the Existing Assets, the Receivables
and the other Related Assets. 

  
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 Section 2.02.  Addition of Additional Accounts. 

 (a)       Required Additions.  If Purchaser
is required, pursuant to Section 2.06 of the Pooling and Servicing Agreement, to designate additional Eligible Accounts as Additional Accounts, Purchaser shall so notify RPA Seller. RPA Seller shall designate such Eligible Accounts as
Additional Accounts and shall convey Receivables in such Additional Accounts to Purchaser, subject to the same qualifications and restrictions as are set forth in Section 2.06 of the Pooling and Servicing Agreement with respect to Purchaser;
provided, however, that the failure of RPA Seller to transfer Receivables to Purchaser as provided in this paragraph solely as a result of the unavailability of a sufficient amount of Eligible Receivables shall not constitute a breach of this
Agreement. Such Accounts shall be limited to Accounts originated by RPA Seller and created in connection with the Cabela’s card program unless the Purchaser shall have received written confirmation from each Rating Agency that such designation
will not result in a downgrade or withdrawal of its then exiting rating of any outstanding Series of Investor Certificates. 

 (b)       Permitted Additions.   Subject
to the restrictions and qualifications set forth in Section 2.06 of the Pooling and Servicing Agreement, Purchaser shall exercise its rights to designate additional Eligible Accounts as Additional Accounts when requested to do so by RPA Seller.
Such Accounts shall be limited to Accounts originated by RPA Seller and created in connection with the Cabela’s card program unless the Purchaser shall have received written confirmation from each Rating Agency that such designation will not
result in a downgrade or withdrawal of its then exiting rating of any outstanding Series of Investor Certificates. 

 (c)       Delivery of Documents.  RPA Seller
agrees to provide to Purchaser such information, certificates, financing statements, opinions and other materials as are reasonably necessary to enable Purchaser to satisfy its obligations under Section 2.06 of the Pooling and Servicing
Agreement with respect to Additional Accounts, including (i) the computer file, microfiche list or written list required to be delivered with respect to such Additional Accounts and (ii) a duly executed, written assignment, substantially
in the form of Exhibit A (the “Supplemental Conveyance”). 

 (d)       Representations and Warranties.  In
connection with the designation of any Eligible Account as an Additional Account, RPA Seller shall represent and warrant that: 

(i)      each Additional Account is, as of the Addition Date, an Eligible
Account, and each Receivable in such Additional Account is, as of the Addition Date, an Eligible Receivable; no selection procedures believed by RPA Seller to be materially adverse to the interests of Purchaser, any Credit Enhancement Provider or
the Investor Certificateholders were utilized in selecting the Additional Accounts from the available Eligible Accounts from the Bank Portfolio; and that as of the Addition Date, RPA Seller is not insolvent; and 

(ii)      as of the Addition Date, the Supplemental Conveyance constitutes a
valid sale to Purchaser of all right, title and interest of RPA Seller in and to the Receivables and the Related Assets then existing and thereafter created from time to time in the Additional Accounts, and such property will be held by Purchaser
free and clear of any Lien. 

  
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 Section 2.03.  Removal of
Accounts.    Purchaser may remove Accounts from the Certificate Trust in accordance with Section 2.07 of the Pooling and Servicing Agreement. RPA Seller agrees to provide to Purchaser such information, certificates,
financing statements, opinions and other materials as are reasonably necessary to enable Purchaser to satisfy its obligations under Section 2.07 of the Pooling and Servicing Agreement with respect to the removal of Accounts. 

ARTICLE III 

CONSIDERATION AND PAYMENT 

Section 3.01.  Purchase Price. 

 (a)       The “Purchase Price” for the Receivables
(including Receivables in Additional Accounts) to be conveyed to Purchaser under this Agreement that come into existence on or after the Effective Date shall be payable on each Business Day on which such Receivables are conveyed by RPA Seller to
Purchaser in an amount equal to 100% of the Principal Receivables so conveyed, as such percentage may be adjusted from time to time to reflect such factors as RPA Seller and Purchaser mutually agree will result in a Purchase Price which is
determined to be the fair market value of such Principal Receivables. If and to the extent that Purchaser shall not have funds available to pay RPA Seller the Purchase Price for the Receivables transferred on any day, an amount equal to the portion
of the Purchase Price for such Receivables for which Purchaser shall not have funds shall be deemed to be a borrowing by Purchaser from RPA Seller under the Subordinated Note; provided, that RPA Seller may, in its discretion, contribute Receivables
on any Business Day and direct that the Purchase Price of such Receivables shall constitute a capital contribution from RPA Seller to Purchaser; provided, further, that no borrowing may be made under the Subordinated Note if, after
giving effect to such borrowing Purchaser Tangible Equity would be less than Required Purchaser Tangible Equity. 

 (b)       RPA Seller is hereby authorized by Purchaser to endorse on
the schedule attached to the Subordinated Note (or a continuation of such schedule attached thereto and made a part thereof) an appropriate notation evidencing the date and amount of each borrowing thereunder, as well as the date and amount of each
payment made with respect thereto; provided that the failure of any Person to make such a notation shall not affect any obligations of Purchaser thereunder. 

  
 10 

  (c)       The terms and
conditions of the Subordinated Note and all borrowings thereunder shall be as follows: 

(i)       All amounts paid by Purchaser with respect to the Subordinated
Note shall be allocated first to the repayment of accrued interest until all such interest is paid, and then to outstanding principal of the Subordinated Note. 

(ii)      The outstanding principal amount of the Subordinated Note shall bear
interest at a fixed rate per annum of 10% from the Effective Date, calculated based on a 360-day year of twelve 30-day months, or such other rate as shall be agreed upon
by RPA Seller and Purchaser from time to time (any such rate, the “Subordinated Note Rate”). Interest on the Subordinated Note shall be payable on March 17, 2003 and the 15th day of each calendar month thereafter, or if the 15th day
is not a Business Day, the next Business Day (each such date, an “Interest Payment Date”). If on any Interest Payment Date, the amount of funds available to pay interest on the Subordinated Note is insufficient to pay any amount due under
the Subordinated Note, then interest shall be payable only to the extent funds are available. All interest on the Subordinated Note that is not paid when due pursuant to this paragraph shall be payable on the next Interest Payment Date on which
funds are available, and all such unpaid interest shall accrue interest at the Subordinated Note Rate until paid in full. 

(iii)     Purchaser may, at its option, prepay the Subordinated Note at any time and
from time to time, provided that in no event shall RPA Seller or any holder of the Subordinated Note have any right to demand any payment of principal under the Subordinated Note prior to the date that is one year and one day after the latest
occurring Series Termination Date for any Series of Investor Certificates (the “Subordinated Note Maturity Date”). 

(iv)     The Subordinated Note shall specifically provide that it is subordinated to
payment in full of the Certificates. 
 Section 3.02.  Adjustments to Purchase
Price.    During any Monthly Period, if (a) Servicer adjusts downward the amount of any Receivable (i) because of a rebate, refund, charge-back or other downward adjustment
(including Servicer errors) made without receiving Collections therefor or charging off such amount as uncollectible, (ii) because such Receivable was created in respect of merchandise which was refused or returned by an accountholder or as to
which the accountholder has asserted a counterclaim or defense, or (iii) which was credited pursuant to a debt deferral or debt cancellation program and not recovered during the Monthly Period from Collections from Insurance Proceeds or
reserves funded by fees generated through such programs; or (b) any Principal Receivable is discovered by Servicer as having been created through a fraudulent or counterfeit charge, then the Purchase Price shall be reduced as provided below (a
“Credit Adjustment”). The amount of such Credit Adjustment with respect to any Receivable adjusted downward as described in clause (a) of the preceding sentence, shall be equal to the amount of such adjustment and, with respect to any
Receivable described in clause (b) of the preceding sentence, shall equal either (i) the Purchase Price paid for such 

  
 11 

 
Receivable by Purchaser to RPA Seller (including any portion thereof deemed to be a borrowing under the Subordinated Note or deemed to be a capital contribution from RPA Seller to Purchaser) or
(ii) in the case of any Receivable that was deemed to have been sold to Purchaser by RPA Seller prior to the Effective Date, the principal balance of such Receivable. The amount of any Credit Adjustment may be offset against any amounts due
from Purchaser to RPA Seller on such day, provided that, subject to the following proviso, RPA Seller shall not be obligated to make any cash payment with respect to a Credit Adjustment until the Distribution Date following the Monthly Period in
which such Credit Adjustment arose; provided, further, that if, as a result of the occurrence of any event giving rise to a Credit Adjustment, Purchaser is required to deposit funds into the Principal Account, RPA Seller shall pay Purchaser the
amount by which the Purchase Price would be reduced in immediately available funds on or before the date Purchaser is required to make such deposit to the Principal Account. 

Section 3.03.  Settlement and Ongoing Payment of Purchase Price.    On each
Distribution Date, RPA Seller shall deliver a settlement statement (the “Settlement Statement”), showing the aggregate Purchase Price of Receivables conveyed to Purchaser during the prior Monthly Period (or, with respect to the first
Distribution Date following the Effective Date, the period from and including the Effective Date through the last day of the calendar month preceding such Distribution Date), and the amount which remains unpaid as Credit Adjustments made with
respect to such period pursuant to Section 3.02 or any adjustment to the Purchase Price of Receivables with respect to such period pursuant to Section 6.01, each of which shall reduce the aggregate Purchase Price payable by Purchaser for
such period. Any balance due from Purchaser to RPA Seller shall be paid in accordance with Section 3.01. Any balance due from RPA Seller to Purchaser shall be paid in immediately available funds. 

ARTICLE IV 

REPRESENTATIONS AND WARRANTIES 

Section 4.01.  Representations and Warranties of RPA Seller Relating to RPA Seller. 

 (a)        Representations and
Warranties.    RPA Seller hereby represents and warrants to Purchaser as of the Effective Date, each Closing Date, and, with respect to Additional Accounts, the related Addition Date, that: 

(i)      Organization and Good Standing.    RPA
Seller is a national banking association validly existing in good standing under the laws of the United States, and has full corporate power, authority and legal right to own its properties and conduct its business as presently owned and
conducted, and to execute, deliver and perform its obligations under the RPA Seller Documents. 

(ii)      Due Qualification.  RPA Seller is duly qualified to
do business and is in good standing as a foreign corporation (or is exempt from such requirements), and has obtained all necessary licenses and approvals in each jurisdiction in which failure to so qualify or obtain licenses and approvals would

  
 12 

 
render any Credit Card Agreement relating to an Account owned by RPA Seller or any Receivables transferred to Purchaser hereunder unenforceable by RPA Seller or Purchaser or would have a material
adverse effect on the interests of the Purchaser, the Holders or any Credit Enhancement Provider. 

(iii)      Due Authorization.  The execution, delivery and
performance of the RPA Seller Documents and any other document or instrument delivered pursuant hereto (such other documents or instruments, collectively, the “Conveyance Papers”), the consummation of the transactions provided for in the
RPA Seller Documents have been duly authorized by all necessary corporate action on the part of RPA Seller and the RPA Seller Documents will remain, from the time of their execution, official records of the RPA Seller. 

(iv)      No Conflict.    The execution and delivery
of the RPA Seller Documents by RPA Seller, the performance of the transactions contemplated by the RPA Seller Documents, and the fulfillment of the terms of the RPA Seller Documents applicable to RPA Seller will not conflict with, result in any
breach of any of the material terms and provisions of, or constitute (with or without notice or lapse of time or both) a material default under, any indenture, contract, agreement, mortgage, deed of trust, or other instrument to which RPA Seller is
a party or by which it or any of its properties are bound. 

(v)       No Violation.   The execution, delivery
and performance of the RPA Seller Documents and the fulfillment of the terms hereof and thereof will not conflict with or violate any Requirements of Law applicable to RPA Seller. 

(vi)      No Proceedings.    There are no
proceedings or investigations pending or, to the best knowledge of RPA Seller, threatened against it, before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality (A) asserting the invalidity of any
RPA Seller Document, (B) seeking to prevent the consummation of any of the transactions contemplated by the RPA Seller Documents, (C) seeking any determination or ruling that, in its reasonable judgment, would materially and adversely
affect the performance by RPA Seller of its obligations under any RPA Seller Document, (D) seeking any determination or ruling that would materially and adversely affect the validity or enforceability of any RPA Seller Document or
(E) seeking to affect adversely the income tax attributes of the Certificate Trust under Federal or applicable state income or franchise tax systems. 

(vii)     Deposit Accounts.   Deposits in RPA
Seller’s deposit accounts are insured by the FDIC to the limits provided by law. 

(viii)    All Consents Required.  All approvals, authorizations,
consents, orders or other actions of any Person or Governmental Authority required in connection with the execution and delivery by RPA Seller of the RPA Seller Documents and the performance of the transactions contemplated by the RPA Seller
Documents by RPA Seller have been obtained, effected or given and are in full force and effect. 

  
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(ix)     Insolvency.  RPA Seller is not insolvent, no Insolvency
Event with respect to RPA Seller has occurred, and the transfer of the Trust Assets, the Existing Assets, the Receivables and Related Assets by it to Purchaser contemplated hereby has not been made in contemplation of such insolvency or Insolvency
Event. 
 (x)      Location.  RPA Seller’s place of
operations is Sidney, Nebraska and there is no pending filing by RPA Seller to change its place of operations. 

  (b)      Notice of Breach; Reliance.  The
representations and warranties of RPA Seller set forth in this Section 4.01 shall survive the transfer and assignment by RPA Seller of the Receivables to Purchaser and the transfer and assignment by Purchaser of the Receivables to the
Certificate Trust. Upon discovery by RPA Seller or Purchaser of a breach of any of the representations and warranties set forth in this Section 4.01, the party discovering such breach shall give prompt written notice to the other, to the
Trustee and to each Credit Enhancement Provider, if any, entitled thereto pursuant to the relevant Supplement. RPA Seller agrees to cooperate with Purchaser, Servicer and Trustee in attempting to cure any such breach. RPA Seller hereby acknowledges
that Purchaser intends to rely on the representations hereunder in connection with representations made by Purchaser to secured parties, assignees or subsequent transferees, including transfers made by Purchaser to the Certificate Trust pursuant to
the Pooling and Servicing Agreement. 
 Section 4.02.  Representations and Warranties of RPA Seller
Relating to the RPA Seller Documents and the Receivables. 

  (a)      Representations and
Warranties.    RPA Seller hereby represents and warrants to Purchaser as of the Effective Date, each Closing Date, and, with respect to Additional Accounts, as of the related Addition Date that: 

(i)      Enforceability.    Each RPA Seller Document
and, in the case of Additional Accounts, the related Supplemental Conveyance, when executed and delivered on behalf of RPA Seller, constitutes a legal, valid and binding obligation of RPA Seller, enforceable against RPA Seller in accordance with its
terms, except as such enforceability may be limited by applicable Debtor Relief Laws now or hereafter in effect and by general principles of equity (whether considered in a suit at law or in equity). 

(ii)     Accurate Account Schedule.  As of the Effective Date, as
of each Addition Date with respect to Additional Accounts, and as of each Removal Date with respect to Removed Accounts, the Account Schedule delivered pursuant to this Agreement, as supplemented to such date, is an accurate and complete listing in
all material respects of all the Accounts as of each such date (or, with respect to 

  
 14 

 
the Account Schedule delivered on the Effective Date, as of the most recent month end) and the information contained therein with respect to the identity of such Accounts and the Receivables
existing thereunder is true and correct in all material respects as of such specified date. 

(iii)     No Liens.  RPA Seller is the legal and beneficial owner
of all right, title and interest in each Receivable and RPA Seller has the full right, power and authority to transfer the Receivables pursuant to this Agreement, and each Receivable conveyed to Purchaser by RPA Seller has been conveyed to Purchaser
free and clear of any Lien and in compliance, in all material respects, with all Requirements of Law applicable to the RPA Seller. 

(iv)     Consents.  All approvals, licenses, authorizations,
consents, orders or other actions of any Person or registrations or declarations with any Governmental Authority required in connection with the conveyance of each Receivable then existing to Purchaser by RPA Seller have been duly obtained, effected
or given and are in full force and effect. 
 (v)      Valid
Transfer.    This Agreement or, in the case of Additional Accounts, the related Supplemental Conveyance, upon execution and delivery on behalf of RPA Seller, constitutes a valid sale, transfer and assignment to Purchaser of
all right, title and interest of RPA Seller in and to the Existing Assets, the Receivables and the Related Assets and such sale is perfected under the UCC. 

(vi)     Eligible Accounts.    With respect to each
Account which is an Account as of the Effective Date, such Account is an Eligible Account, determined as of the Cut-Off Date with respect to the initial Accounts and as of the related Addition Date with respect to each Additional Account. 

(vii)    Eligible Receivables.    On the date each Account
became an Account (or each Additional Account becomes an Account,) each Receivable contained in such Account (or Additional Account) was (or is) an Eligible Receivable; and, with respect to all Accounts, as of the date of the creation of any new
Receivable, such Receivable is an Eligible Receivable. 
 (viii)   No Adverse
Selection.  No selection procedures believed by RPA Seller to be materially adverse to the interests of Purchaser, any Credit Enhancement Provider or the Investor Certificateholders were used in selecting the Accounts from the
available Eligible Accounts. 
 (ix)     Subsequent
Receivables.     On each day on which any new Receivable is created, RPA Seller represents and warrants to the Purchaser that the representations and warranties made in Section 4.02(a)(i), (iii), (iv), (v) and
(vii) and 4.02(b) are true and correct with respect to each such Receivable as of such day of creation and as if made on such day, and each such Receivable created on such day has been conveyed to Purchaser in compliance, in all material
respects, with all Requirements of Law applicable to RPA Seller. 

  
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 (b)        Perfection Representations and
Warranties.  RPA Seller hereby makes the Perfection Representations and Warranties to the Purchaser. The rights and remedies with respect to any breach of the Perfection Representations and Warranties made under this
Section 4.02(b) shall be continuing and shall survive any termination of this Agreement. Purchaser shall not waive a breach of any Perfection Representation and Warranty. In order to evidence the interests of RPA Seller and Purchaser under this
Agreement, RPA Seller and Servicer shall, from time to time take such action, and execute and deliver such instruments (including, without limitation, such actions or filings as are requested by Purchaser and financing statements under the UCC as
enacted and then in effect in any other jurisdiction in which RPA Seller is organized, has its principal place of business or maintains any books, records, files or other information concerning the Receivables) in order to maintain and perfect, as a
first priority interest, the Purchaser’s security interest in the Receivables. RPA Seller hereby authorizes Servicer to file financing statements under the UCC without RPA Seller’s signature where allowed by applicable law. 

 (c)        Notice of Breach;
Reliance.  The representations and warranties of RPA Seller set forth in this Section 4.02 shall survive the transfer and assignment by RPA Seller of the Receivables to Purchaser and the transfer and assignment by Purchaser of
the Receivables to the Certificate Trust. Upon discovery by RPA Seller or Purchaser of a breach of any of the representations and warranties by RPA Seller set forth in this Section 4.02, the party discovering such breach shall give prompt
written notice to the other, to the Trustee and to each Credit Enhancement Provider, if any, entitled thereto pursuant to the relevant Supplement. RPA Seller hereby acknowledges that Purchaser intends to rely on the representations hereunder in
connection with representations made by Purchaser to secured parties, assignees or subsequent transferees, including transfers made by Purchaser to the Certificate Trust pursuant to the Pooling and Servicing Agreement. RPA Seller agrees to cooperate
with Purchaser, Servicer and Trustee in attempting to cure any such breach. 

Section 4.03.  Representations and Warranties of Purchaser. 

 (a)        Representations and
Warranties.    As of the Effective Date and each Closing Date, Purchaser hereby represents and warrants to, and agrees with, RPA Seller that: 

 (i)      Organization and Good Standing.  Purchaser is a
limited liability company validly existing in good standing under the laws of the State of Nebraska and has full power and authority to own its properties and conduct its business as presently owned and conducted and to execute, deliver and perform
its obligations under the Purchaser Documents. 

  
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 (ii)      Due
Authorization.  The execution and delivery of the Purchaser Documents and the consummation of the transactions provided for in the Purchaser Documents have been duly authorized by Purchaser by all necessary limited liability company
action on the part of Purchaser. 
 (iii)     No
Conflict.     The execution and delivery of the Purchaser Documents, the performance of the transactions contemplated by the Purchaser Documents, and the fulfillment of the terms hereof and thereof, will not conflict
with, result in any breach of any of the material terms and provisions of, or constitute (with or without notice or lapse of time or both) a material default under, any indenture, contract, agreement, mortgage, deed of trust or other instrument to
which Purchaser is a party or by which it or any of its properties are bound. 

(iv)     No Violation.    The execution, delivery and
performance of the Purchaser Documents by Purchaser and the fulfillment by Purchaser of the terms contemplated herein and therein will not conflict with or violate any Requirements of Law applicable to Purchaser. 

(v)      No Proceedings.     There are no
proceedings or investigations pending or, to the best knowledge of Purchaser, threatened against Purchaser, before any court, regulatory body, administrative agency, or other tribunal or governmental instrumentality (A) asserting the invalidity
of any Purchaser Document, (B) seeking to prevent the consummation of any of the transactions contemplated by the Purchaser Documents, (C) seeking any determination or ruling that, in the reasonable judgment of Purchaser, would materially
and adversely affect the performance by Purchaser of its obligations under any Purchaser Document or (D) seeking any determination or ruling that would materially and adversely affect the validity or enforceability of any Purchaser Document.

 (vi)     All Consents Required.  All approvals,
authorizations, consents, orders or other actions of any Person or Governmental Authority required in connection with the execution and delivery by Purchaser of the Purchaser Documents, the performance by Purchaser of the transactions contemplated
by the Purchaser Documents and the fulfillment by Purchaser of the terms hereof and thereof, have been obtained, effected or given and are in full force and effect. 

  (b)      Notice of Breach.  The
representations and warranties of Purchaser set forth in this Section 4.03 shall survive the transfer and assignment by RPA Seller of the Existing Assets to Purchaser. RPA Seller and Purchaser acknowledge and agree that no breach of any
representation or warranty of Purchaser made hereunder shall invalidate any conveyance of Existing Assets made by RPA Seller hereunder. Upon discovery by RPA Seller or Purchaser of a breach of any of the representations and warranties by Purchaser
set forth in this Section 4.03, the party discovering such breach shall give prompt written notice to the other, to the Trustee and to each Credit Enhancement 

  
 17 

 
Provider, if any, entitled thereto pursuant to the relevant Supplement. Purchaser agrees to cooperate with RPA Seller, Servicer and Trustee in attempting to cure any such breach. For purposes of
the representations and warranties set forth in this Section 4.03, each reference to a Supplement shall be deemed to refer only to those Supplements in effect as of the relevant date. 

ARTICLE V 
 RPA SELLER
COVENANTS 
 RPA Seller hereby covenants and agrees with Purchaser as follows: 

(a)      Receivables Not To Be Evidenced by Promissory
Notes.  RPA Seller will take no action to cause any Receivable transferred by it pursuant hereto to be evidenced by any “instrument” (as defined in the UCC) or to be anything other than an “account” (as defined
in the UCC) and, if any such Receivable is so evidenced (whether or not in connection with the enforcement or collection of an Account), it shall be an Ineligible Receivable in accordance with Section 6.01. 

(b)      Security Interests.  Except for the conveyances
hereunder or as otherwise provided herein, RPA Seller will not sell, pledge, assign or transfer to any other Person, or grant, create, incur, assume or suffer to exist, any Lien on any Receivable, whether now existing or hereafter created, or any
interest therein; RPA Seller will immediately notify Purchaser of the existence of any Lien on any Receivable of which RPA Seller has knowledge; and RPA Seller shall defend the right, title and interest of Purchaser and its assigns in, to and under
the Receivables, whether now existing or hereafter created, against all claims of third parties. 

(c)      Delivery of Collections or Recoveries.  If RPA
Seller receives Collections or Recoveries, RPA Seller agrees to pay to Purchaser (or the Servicer if Purchaser so directs) all such Collections and Recoveries as soon as practicable after receipt thereof but in no event later than two Business Days
after the Date of Processing by RPA Seller, provided that for so long as RPA Seller is acting as Servicer pursuant to the Pooling and Servicing Agreement, RPA Seller shall apply Collections and Recoveries received by it in accordance with the
Pooling and Servicing Agreement. 
 (d)      Notice of
Liens.    RPA Seller shall notify Purchaser promptly after becoming aware of any Lien on any Receivable other than the conveyances hereunder or under the Pooling and Servicing Agreement. 

(e)      Documentation of Transfer.  RPA Seller shall
cause this Agreement, all amendments hereto and/or all financing statements and continuation statements and any other necessary documents covering ownership interest in the Existing Assets, the Receivables and Related Assets to be promptly recorded,
registered and filed, and at all times to be kept recorded, registered and filed, all in such manner and in such places as may be required by law fully to preserve and protect the right, title and interest of

  
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Purchaser hereunder to the Existing Assets, the Receivables and the Related Assets. RPA Seller shall deliver to the Trustee file–stamped copies of, or filing receipts for, any document
recorded, registered or filed as provided above, as soon as available following such recording, registration or filing. RPA Seller shall cooperate fully with the Servicer and the Trustee in connection with the obligations set forth above and will
execute any and all documents reasonably required to fulfill the intent of this subsection (e). 

(f)      Opinions.  RPA Seller will deliver to the
Purchaser with a copy to the Trustee: (i) upon each date that any Additional Accounts are to be included in the Accounts pursuant to Section 2.02, an Opinion of Counsel substantially in the form of Exhibit C; and (ii) on or
before March 31 of each year, beginning with March 31, 2003, an Opinion of Counsel, substantially in the form of Exhibit D. 

(g)      Conveyance of Accounts.  RPA Seller covenants
and agrees that it will not convey, assign, exchange or otherwise transfer the Accounts to any Person so long as any Investor Certificates are outstanding under the Pooling and Servicing Agreement; provided, however, that RPA Seller shall not be
prohibited from conveying, assigning, exchanging or otherwise transferring the Accounts in connection with a transaction complying with the provisions of Section 9.05. 

(h)      Sale.  RPA Seller agrees to treat the
conveyance of the Receivables to Purchaser hereunder as a sale for all purposes (including all tax and financial accounting purposes). 

(i)      Continuous Perfection.  RPA Seller shall not
change its name, identity, structure, place of operations or main office in any manner that might cause any financing or continuation statement filed pursuant to this Agreement to be misleading unless RPA Seller shall have delivered to Purchaser,
each Credit Enhancement Provider and the Trustee at least thirty (30) days’ prior written notice thereof and, no later than thirty (30) days after making such change, shall have taken all action necessary or advisable to file new
appropriate financing statements and/or amend such financing statement or continuation statement so that it is not misleading, in either case, as necessary to cause the interest of the Purchaser in the Receivables, the other Existing Assets and the
other Related Assets to continue to be perfected with the priority required by this Agreement. RPA Seller shall not change the jurisdiction under whose laws it is organized, its chief executive office or change the location of its principal records
concerning the Receivables or the Collections unless it has delivered to Purchaser, each Credit Enhancement Provider and the Trustee at least thirty (30) days’ prior written notice of its intention to do so and notice as to whether, as a
result of such change, the applicable provisions of the UCC would require the filing of any amendment of any previously filed financing or continuation statement or of any new financing statement and has filed such amendments or financing statements
and otherwise taken action as is necessary or advisable to cause the interest of Purchaser in the Receivables, the other Existing Assets and the other Related Assets to continue to be perfected with the priority required by this Agreement. 

  
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 (j)      Credit Card
Agreements and Guidelines.  RPA Seller shall comply with and perform its obligations under the Credit Card Agreements relating to the Accounts and the Credit Card Guidelines and all applicable rules and regulations of VISA USA,
Inc. and MasterCard International Incorporated except insofar as any failure to comply or perform would not materially or adversely affect the rights and interests of the Purchaser, the Trustee or the Certificateholders under the Investor
Certificates or any other Transaction Documents. Except as expressly provided in any Supplement, RPA Seller may change the terms and provisions of the Credit Card Agreements or the Credit Card Guidelines in any respect (including, without
limitation, the reduction of the required minimum monthly payment, the calculation of the amount, or the timing, of charge offs and Periodic Finance Charges and other fees assessed thereon), but only if such change (i) would not, in the
reasonable belief of RPA Seller, cause a Pay Out Event to occur, and (ii) is made applicable to the comparable segment of the revolving credit card accounts owned and serviced by RPA Seller which have characteristics the same as, or
substantially similar to, the Accounts that are the subject of such change, except as otherwise restricted by an endorsement, sponsorship or other agreement between RPA Seller and an unrelated third party or by the terms of the Credit Card
Agreements; provided, however, that for purposes of RPA Seller’s debt deferral and debt cancellation programs, the requirements of clause (ii) shall be deemed to be satisfied if the opportunity to initiate the change is made
available to a substantial portion of the comparable segment of the revolving credit card accounts owned and serviced by RPA Seller which have characteristics the same as, or substantially similar to, the Accounts to which such opportunity is made
available. In addition, except as otherwise required by any Requirement of Law, RPA Seller shall not at any time reduce the Periodic Finance Charges assessed on any Receivable or other fees or charges on any Account if, as a result of such
reduction, RPA Seller’s reasonable expectation is that the Quarterly Excess Spread Percentage as of any future date would be less than 2.50% unless such reduction is made applicable to the comparable segment of the consumer revolving credit
accounts owned and serviced by RPA Seller that have characteristics the same as, or substantially similar to, the Accounts that are subject to such change. 

(k)      Insured Status Under the FDIA.  RPA Seller
shall preserve its status as an insured bank under the FDIA by insuring its deposits with the FDIC in accordance with the provisions of the FDIA and FDIC regulations. 

(l)      Separate Corporate Existence.  RPA Seller
hereby acknowledges that the Trustee, the Certificate Trust, each Credit Enhancement Provider and the Holders are, and will be, entering into the transactions contemplated by the Transaction Documents in reliance upon Purchaser’s identity as a
legal entity separate from RPA Seller, the Servicer and any other Person. Therefore, RPA Seller shall take all reasonable steps to maintain its existence as a corporation separate and apart from Purchaser and to make it apparent to third parties
that RPA Seller is an entity with assets and liabilities distinct from those of Purchaser and that Purchaser is not a division of RPA Seller. 

(m)    Account Allocations.  In the event that RPA Seller is
unable for any reason to transfer Receivables to the Purchaser in accordance with the provisions of this 

  
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Agreement (including, without limitation, by reason of the application of the provisions of Section 8.02 or an order by any federal governmental agency having regulatory authority over RPA
Seller or any court of competent jurisdiction that RPA Seller not transfer any additional Principal Receivables to the Purchaser) then, in any such event, RPA Seller agrees to allocate and pay to the Purchaser, after the date of such inability, all
Collections with respect to Principal Receivables previously sold to Purchaser. If RPA Seller is unable pursuant to any Requirement of Law to allocate Collections as described above, RPA Seller agrees that it shall in any such event allocate, after
the occurrence of such event, payments on each Account with respect to the principal balance of such Account first to the oldest principal balance of such Account and to have such payments applied as Collections in accordance with the Transaction
Documents. The parties hereto agree that Finance Charge Receivables, whenever created, accrued in respect of Principal Receivables that have been conveyed to the Purchaser shall continue to be owned by Purchaser or its assignee notwithstanding any
cessation of the transfer of additional Principal Receivables to the Purchaser and Collections with respect thereto shall continue to be allocated and paid in accordance with the Transaction Documents. 

(n)        Official Records.  The resolutions
of the Board of Directors of RPA Seller approving each of the Transaction Documents and all documents relating thereto are and shall be continuously reflected in the minutes of the Board of Directors of RPA Seller and in the official records of RPA
Seller. Each of the Transaction Documents and all documents relating thereto are and shall, continuously from the time of their respective execution by RPA Seller, be official records of RPA Seller. 

(o)        RPA Seller Covenants.  RPA Seller
shall deliver to Purchaser: 
 (i)      within sixty (60) days after the
end of each quarterly fiscal period in its fiscal year, copies of its unconsolidated financial statements, certified as complete and correct, subject to normal changes resulting from year-end audit
adjustments, by its chief financial officer; 
 (ii)     within ninety
(90) days after the end of its fiscal year, copies of consolidated financial statements for such year, certified by independent accountants of nationally recognized standing selected by it or, if no such unconsolidated certified financial
statements are prepared, the consolidated financial statements of the parent of such party certified by independent accountants of nationally recognized standing selected by it; 

(iii)     promptly upon a Responsible Officer’s becoming aware thereof, written
notice of material changes in the terms of the Accounts or servicing and collection policies of Servicer which may reasonably be expected to have a material adverse effect on the interests of Purchaser and its assignees; and 

(iv)     promptly upon a Responsible Officer’s becoming aware thereof, written
notice of material litigation or regulatory action which is commenced against RPA Seller which may reasonably be expected to have a material adverse effect on the interests of Purchaser or its assignees. 

  
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(p)        Interchange.  On or prior to each
Determination Date, RPA Seller shall notify Servicer of the amount of Interchange allocable to the Accounts with respect to the related Monthly Period (“Account Interchange Amount”), which amount shall be equal to the product of: 

(i)      the total amount of Interchange paid or payable to RPA Seller with
respect to such related Monthly Period; and 
 (ii)     a fraction the numerator
of which is the volume during the related Monthly Period of sales net of cash advances on the Accounts and the denominator of which is the amount of sales net of cash advances during the related Monthly Period on all VISA and MasterCard accounts
owned by RPA Seller. 
 On each Transfer Date, RPA Seller shall pay to Purchaser, in immediately available funds, an amount
equal to the Account Interchange Amount for the related Monthly Period. 

(q)        Other Transfers of
Receivables.  RPA Seller shall not (i) enter into any other receivables purchase agreement relating to the sale of credit card receivables arising under accounts owned by RPA Seller with the Transferor, or (ii) permit any
additional party to become a transferor under this Agreement, in either event without giving prior written notice to and receiving prior written consent of each Rating Agency. 

ARTICLE VI 
 REPURCHASE
OBLIGATION 
 Section 6.01.  Reassignment of Ineligible Receivables.    If
(a) any representation or warranty under Section 2.02(d) or Section 4.02 is not true and correct in any material respect as of the date specified therein with respect to any Receivable or any related Account or (b) any
representation or warranty made by RPA Seller pursuant to Section 2.04 of the Existing PSA is not true and correct in any material respect as of the date specified therein with respect to any Receivable transferred to the Certificate Trust
prior to the Effective Date or any related Account and, in either case, as a result thereof Purchaser is required to accept a reassignment of Ineligible Receivables pursuant to Section 2.04(d) of the Pooling and Servicing Agreement, RPA Seller
shall pay to Purchaser an amount in cash equal to either (i) the Purchase Price paid for any such Ineligible Receivable by Purchaser to RPA Seller (including any portion thereof deemed to be a borrowing under the Subordinated Note or deemed to
be a capital contribution from RPA Seller to Purchaser) less any amounts previously collected by Purchaser with respect to such Receivable or (ii) in the case of any Receivable that was deemed to have been sold to Purchaser by RPA Seller prior
to the Effective Date, the principal balance of such Receivable. Such amount may be offset against any amounts due from Purchaser to RPA Seller with respect to the 

  
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Purchase Price for Receivables sold to Purchaser on such day; provided that RPA Seller shall not be obligated to make any such cash payment until the Transfer Date following a Monthly Period with
respect to amounts owing for such Monthly Period in accordance with Section 3.03. The obligation of RPA Seller set forth in this Section shall constitute the sole remedy respecting any breach of the representations and warranties set forth in
the above-referenced Sections with respect to such Receivables or failure to meet the conditions set forth in the definition in the Pooling and Servicing Agreement of Eligible Receivable with respect to such
Receivable available to Purchaser. 
 Section 6.02.  Reassignment of Holders’ Interest in Trust
Portfolio.    If (a) any representation or warranty set forth in Section 4.01(a) or Section 4.02 is not true and correct in any material respect or (b) any representation or warranty made by RPA Seller
pursuant to Section 2.04(a) or subsection 2.06(c)(iv) of the Existing PSA with respect to any Receivable transferred to the Certificate Trust prior to the Effective Date or any related Account is not true and correct in any material respect
and, in either case, as a result thereof Purchaser is required to accept a reassignment of the Receivables transferred to the Certificate Trust by Purchaser pursuant to Section 2.04(e) of the Pooling and Servicing Agreement, RPA Seller shall be
obligated to accept a reassignment of Purchaser’s interest in such Receivables on the terms set forth below. 
 RPA
Seller shall pay to Purchaser by depositing in the Collection Account in same-day funds, not later than 10:00 a.m., New York City time, on the Transfer Date following the Monthly Period in which such
reassignment obligation arises, in payment for such reassignment, an amount equal to the Portfolio Reassignment Price. The obligation of RPA Seller set forth in this Section shall constitute the sole remedy respecting any breach of the
representations and warranties set forth in the above-referenced Sections available to Purchaser. 

Section 6.03.  Conveyance of Reassigned Receivables.    Upon the request of RPA
Seller, Purchaser shall execute and deliver to RPA Seller a reconveyance substantially in such form and upon such terms as shall be acceptable to RPA Seller, pursuant to which Purchaser evidences the conveyance to RPA Seller of all of
Purchaser’s right, title, and interest in any Receivables reconveyed to RPA Seller pursuant to Sections 6.01 and 6.02. Purchaser shall and shall cause Trustee to execute such other documents or instruments of conveyance or take such other
actions as RPA Seller may reasonably require to effect any repurchase of Receivables pursuant to this Article VI. 
 ARTICLE VII

 CONDITIONS PRECEDENT 

Section 7.01.  Conditions to Purchase.  The obligations of Purchaser to make its initial
purchase of Receivables hereunder shall be subject to RPA Seller delivering to Purchaser on or before the Effective Date such documents, certificates and resolutions that Purchaser is required to deliver to the Trustee, any Credit Enhancement
Provider or any Rating Agency in connection with the amendment and restatement of the Pooling and Servicing Agreement on the date of this Agreement. 

  
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 Section 7.02.  Conditions to Purchaser’s Obligations
Regarding Additional Receivables.  The obligations of Purchaser to purchase any Receivables created on or after the Effective Date shall be subject to the satisfaction of the following conditions: 

(a)      All representations and warranties of RPA Seller contained in the
Transaction Documents shall be true and correct in all material respects with the same effect as though such representations and warranties had been made on the date of such purchase; 

(b)      All information concerning any Account to which such Receivables relate
provided to Purchaser shall be true and correct in all material respects as of the date of such purchase; and 

(c)      RPA Seller shall have recorded and filed, at its expense, any UCC-1 or other financing statement as required as of the date of such purchase pursuant to Section 2.01(c). 

Section 7.03.  Conditions Precedent to Obligations of RPA Seller.  The obligations of RPA
Seller to sell on any date Receivables shall be subject to the satisfaction of the following conditions: 

(a)      All representations and warranties of Purchaser contained in this
Agreement shall be true and correct in all material respects with the same effect as though such representations and warranties had been made on the date of such sale; and 

(b)      Payment or provision for payment of the Purchase Price in accordance
with the provision of Sections 3.01, 3.02 and 3.03 hereof shall have been made. 
 ARTICLE VIII 

TERM AND PURCHASE TERMINATION 

Section 8.01.  Term.  This Agreement shall commence as of the date of execution and delivery
hereof and shall continue until the termination of the Certificate Trust as provided in Article XII of the Pooling and Servicing Agreement. 

Section 8.02.  Purchase Termination.  If an Insolvency Event shall occur with respect to RPA
Seller or Purchaser, then RPA Seller shall immediately cease to transfer Principal Receivables to Purchaser and shall promptly give notice to Purchaser and Trustee of such Insolvency Event. Notwithstanding any cessation of the transfer to Purchaser
of additional Principal Receivables, Principal Receivables transferred to Purchaser prior to the occurrence of such Insolvency Event and Collections in respect of such Principal Receivables and Finance Charge Receivables whenever created, accrued in
respect of such Principal Receivables, shall continue to be property of Purchaser transferable by Purchaser to the Certificate Trust pursuant to the Pooling and Servicing Agreement. 

  
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 ARTICLE IX 

MISCELLANEOUS PROVISIONS 

Section 9.01.  Amendment.  This Agreement and any Conveyance Papers and the rights and
obligations of the parties hereunder may not be changed orally, but only by an instrument in writing signed by Purchaser and RPA Seller in accordance with this Section 9.01. This Agreement and any Conveyance Papers may be amended from time to
time by Purchaser and RPA Seller (a) to cure any ambiguity, (b) to correct or supplement any provisions herein which may be inconsistent with any other provisions herein or in any Conveyance Papers, (c) to add any other provisions
with respect to matters or questions arising under this Agreement or any Conveyance Papers that shall not be inconsistent with the provisions of this Agreement or any Conveyance Papers, (d) to change or modify the Purchase Price, (e) to
change, modify, delete or add any other obligation of RPA Seller or Purchaser and (f) to provide for the transfer by RPA Seller or Purchaser of its interest in and to all or part of the Accounts in accordance with the provisions of the Pooling
and Servicing Agreement (if such transfer is for less than all of the Accounts, the respective rights, duties and obligations of Purchaser, RPA Seller and Servicer will be determined at the time of such transfer); provided that no amendment pursuant
to clause (d) or (e) of this Section 9.01 shall be effective unless the Rating Agency Condition has been satisfied; and provided, further, that no amendment made pursuant to this Section 9.01 shall adversely affect in any
material respect the interests of any Holders or any Credit Enhancement Provider. Any reconveyance executed in accordance with the provisions hereof shall not be considered to be an amendment to this Agreement. A copy of any amendment to this
Agreement shall be sent to Trustee, each Credit Enhancement Provider and each Rating Agency. 

Section 9.02.  GOVERNING LAW.  THIS AGREEMENT AND THE CONVEYANCE PAPERS SHALL BE CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEBRASKA, 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 9.03.  Notices.        All demands, notices,
instructions, directions and communications under this Agreement shall be in writing and shall be deemed to have been duly given if personally delivered at, mailed by registered mail, return receipt requested, or sent by facsimile transmission to
(a) in the case of Purchaser, to WFB Funding LLC, One Cabela Drive, Sidney, Nebraska 69160, Attention: Ralph W. Castner, (b) in the case of RPA Seller, to World’s Foremost Bank, National Association, One Cabela Drive, Sidney, Nebraska
69160, Attention: Ralph W. Castner, (c) in the case of the Trustee, to the Corporate Trust Office; and (d) in the case of the Rating Agency for a particular Series, the address, if any, specified in the Supplement relating to such Series.

 Section 9.04.  Severability of Provisions.    If any one or more of the
covenants, agreements, provisions or terms of this Agreement or any Conveyance Paper shall for any reason whatsoever be held invalid, then such covenants, agreements, provisions, or terms shall be deemed severable from the remaining covenants,
agreements, provisions, and terms of this Agreement or any Conveyance Paper and shall in no way affect the validity or enforceability of the other provisions of this Agreement or of any Conveyance Paper. 

  
 25 

 Section 9.05.  Merger or Consolidation of, or Assumption of the
Obligations of, RPA Seller. 
 (a)        RPA Seller shall not
consolidate with or merge into any other corporation or convey or transfer its properties and assets substantially as an entirety to any Person unless: 

(i)      the Person formed by such consolidation or into which RPA Seller is
merged or the Person which acquires by conveyance or transfer the properties and assets of RPA Seller substantially as an entirety shall be, if RPA Seller is not the surviving entity, an entity organized and existing under the laws of the
United States of America or any State or the District of Columbia, and, if RPA Seller is not the surviving entity, such entity shall expressly assume, by an agreement supplemental hereto, executed and delivered to Purchaser and Trustee, in form
reasonably satisfactory to Purchaser, the performance of every covenant and obligation of RPA Seller under the Transaction Documents; 

(ii)      RPA Seller has delivered to Purchaser and Trustee (A) an
Officer’s Certificate stating that such consolidation, merger, conveyance or transfer and such supplemental agreement comply with this Section and that all conditions precedent herein provided for relating to such transaction have been complied
with and (B) an Opinion of Counsel to the effect that such supplemental agreement is a valid and binding obligation of such surviving entity enforceable against such surviving entity in accordance with its terms, except as such enforceability
may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally from time to time in effect and except as such enforceability may be limited by general principles of
equity (whether considered in a suit at law or in equity); 
 (iii)      RPA
Seller shall have delivered to Purchaser and Trustee and each Rating Agency a Tax Opinion, as defined in the Pooling and Serving Agreement, dated the date of such consolidation, merger, conveyance or transfer, with respect thereto; 

(iv)      if RPA Seller is not the surviving entity, the surviving entity shall
file new UCC-1 financing statements with respect to the interest of Purchaser in the Receivables; and 

(v)      satisfaction of the Rating Agency Condition. 

(b)        This Section 9.05 shall not be construed to prohibit
or in any way limit RPA Seller’s ability to effectuate any consolidation or merger pursuant to which RPA Seller would be surviving entity. 

  
 26 

 (c)      RPA Seller shall notify
each Rating Agency promptly after any consolidation, merger, conveyance or transfer effected pursuant to this Section 9.05. 

(d)      The obligations of RPA Seller hereunder shall not be assignable nor
shall any Person succeed to the obligations of RPA Seller hereunder except in each case in accordance with the provisions of this Section 9.05. 

Section 9.06.  Acknowledgement and Agreement of RPA Seller. 

(a)      RPA Seller expressly acknowledges and agrees that all of
Purchaser’s right, title, and interest in, to and under this Agreement, including all of Purchaser’s right, title, and interest in and to the Receivables purchased pursuant to this Agreement, will be assigned by Purchaser to the Trustee
for the benefit of the Holders and each Credit Enhancement Provider, and RPA Seller consents to such assignment. Additionally, RPA Seller agrees for the benefit of the Trustee, each Credit Enhancement Provider and the Holders that any amounts
payable by RPA Seller to Purchaser hereunder which are to be paid by Purchaser to Trustee for the benefit of the Holders and each Credit Enhancement Provider shall be paid by RPA Seller, on behalf of Purchaser, directly to Trustee. Any payment
required to be made on or before a specified date in same-day funds may be made on the prior business day in next-day funds. 

(b)      To the extent that RPA Seller retains any interest in the Receivables
now existing and arising from time to time in the Accounts and the Related Assets, RPA Seller hereby grants to the Trustee for the benefit of the Investor Certificateholders and each Credit Enhancement Provider, a security interest in all of RPA
Seller’s right, title and interest, whether now owned or hereafter arising, in, to and under (i) the Receivables existing at the opening of business on the Effective Date and arising from the Accounts and all Related Assets with respect to
such Receivables, (ii) the Receivables now existing and arising from time to time in the Accounts and the Related Assets with respect thereto and (iii) all proceeds of such rights and such amounts, to secure the performance of all of the
obligations of RPA Seller hereunder, under the Pooling and Servicing Agreement and the other Transaction Documents. 

Section 9.07.  Further Assurances.  Each of Purchaser and RPA Seller agrees to do and perform,
from time to time, any and all acts and to execute any and all further instruments required or reasonably requested by each other and by their respective permitted successors and assigns in order to more fully effect the purposes of this Agreement
and the Conveyance Papers, including the execution of any UCC financing statements or continuation statements or equivalent documents relating to the Receivables and the Related Assets for filing under the provisions of the UCC or other law of any
applicable jurisdiction. 
 Section 9.08.  Nonpetition Covenant.   Notwithstanding any
prior termination of this Agreement, RPA Seller shall not, at any time, institute against, solicit or join or cooperate with or encourage any institution against Purchaser or the Certificate Trust of, any bankruptcy, reorganization, arrangement,
insolvency or liquidation proceedings or other similar proceedings under any United States federal or state bankruptcy or similar law. 

  
 27 

 Section 9.09.  No Waiver; Cumulative
Remedies.  No failure to exercise and no delay in exercising, on the part of Purchaser or RPA Seller, any right, remedy, power or privilege hereunder, shall operate as a waiver thereof; nor shall any single or partial exercise of any
right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided are cumulative and not exhaustive
of any rights, remedies, powers and privileges provided by law. 

Section 9.10.  Counterparts.   This Agreement and all Conveyance Papers may be executed
in two or more counterparts (and by different parties on separate counterparts), each of which shall be an original, but all of which together shall constitute one and the same instrument. 

Section 9.11.  Binding Third-Party
Beneficiaries.     This Agreement and the Conveyance Papers will inure to the benefit of and be binding upon the parties hereto and their respective successors and permitted assigns. The parties hereto intend that the
Certificate Trust, each Credit Enhancement Provider and the Certificate Trustee shall be third-party beneficiaries of this Agreement. 

Section 9.12.  Merger and Integration.  Except as specifically stated otherwise herein, this
Agreement and the other Transaction Documents set forth the entire understanding of the parties relating to the subject matter hereof, and all prior understandings, written or oral, are superseded by this Agreement and the other Transaction
Documents. 
 Section 9.13.  Schedules and Exhibits.  The schedules and exhibits attached
hereto and referred to herein shall constitute a part of this Agreement and are incorporated into this Agreement for all purposes. 

[Remainder of page intentionally left blank] 

  
 28 

 IN WITNESS WHEREOF, Purchaser and RPA Seller have caused this Agreement to be
duly executed by their respective officers as of the day and year first above written. 
  

					
	WFB FUNDING, LLC, as Purchaser	 	
			
	By:	 	WFB Funding Corporation,	 	
		 	its Managing Member	 	

 
					
			
	By	 	 /s/ Ralph Castner
	 	

 
					
	Name	 	 Ralph Castner
	 	

 
					
	Title	 	 Treasurer
	 	

 
					
		
	 WORLD’S FOREMOST BANK,

NATIONAL ASSOCIATION, as RPA Seller
	 	

 
					
			
	By	 	 /s/ Ralph Castner
	 	

 
					
	Name	 	 Ralph Castner
	 	

 
					
	Title	 	 Treasurer
	 	

  

			
	Acknowledged and Accepted:
	
	 U.S. BANK, NATIONAL ASSOCIATION,

not in its individual capacity but solely as Trustee

			
		
	By	 	 /s/ Tamara Schultz-Fugh

			
	Name	 	 Tamara Schultz-Fugh

			
	Title	 	 Vice President

  
  
  

RECEIVABLES PURCHASE AGREEMENT SIGNATURE PAGE 

  
 29 

 EXHIBIT A 

FORM OF SUPPLEMENTAL CONVEYANCE 
  

(As required by Section 2.02 of 

the Receivables Purchase Agreement) 

SUPPLEMENTAL CONVEYANCE NO.        dated as of
                  20  , by and between WORLD’S FOREMOST BANK, NATIONAL ASSOCIATION (“RPA Seller”) and WFB FUNDING, LLC,
(“Purchaser”) pursuant to the Receivables Purchase Agreement referred to below. 
 WITNESSETH : 

WHEREAS, RPA Seller and Purchaser are parties to a Receivables Purchase Agreement, dated as of February 4, 2003
(hereinafter as such agreement may have been, or may from time to time be, amended, supplemented or otherwise modified, the “Receivables Purchase Agreement”); and 

WHEREAS, pursuant to the Receivables Purchase Agreement, RPA Seller wishes to designate Additional Accounts to be included as
Accounts and RPA Seller wishes to convey the Receivables of such Additional Accounts, whether now existing or hereafter created, to Purchaser pursuant to the Receivables Purchase Agreement (as each such term is defined in the Receivables Purchase
Agreement); and 
 WHEREAS, Purchaser is willing to accept such designation and conveyance subject to the terms and
conditions hereof; 
 NOW, THEREFORE, RPA Seller and Purchaser hereby agree as follows: 

Section 1.  Defined Terms.  Each capitalized term used herein shall have the meaning specified
in the Receivables Purchase Agreement unless otherwise defined herein. 
 “Addition Date” shall mean, with
respect to the Additional Accounts designated hereby,                200  . 

Section 2.  Designation of Additional Accounts.   RPA Seller delivers herewith an Account
Schedule containing a true and complete schedule identifying all such Additional Accounts and specifying for each such Account, as of the Addition Date, its account number, the aggregate amount outstanding in such Account and the aggregate amount of
Principal Receivables in such Account. Such Account Schedule shall be, as of the date of this Supplemental Conveyance, incorporated into and made part of this Supplemental Conveyance and is marked as Schedule I to this Supplemental Conveyance.

  
 A-1 

 Section 3.  Conveyance of Receivables. 

(a)       RPA Seller sells, transfers, assigns, sets over and otherwise
conveys to Purchaser (collectively, the “Conveyance”), without recourse, all of its right, title and interest in, to and under the Receivables generated by such Additional Accounts and the Related Assets, now existing and hereafter
arising, all Recoveries allocable to such Additional Accounts and all monies due or to become due thereunder and all amounts received with respect thereto and all proceeds thereof. The foregoing sale, transfer, assignment, set-over and conveyance does not constitute and is not intended to result in a creation or an assumption by Purchaser of any obligation of Servicer, RPA Seller or any other Person in connection with the Accounts,
the Receivables or under any agreement or instrument relating thereto. 

(b)      In connection with the Conveyance and in accordance with
Section 2.01(c) of the Receivables Purchase Agreement, RPA Seller agrees to record and file, at its own expense, one or more UCC financing statements (and continuation statements with respect to such financing statements when applicable) with
respect to the Receivables and Related Assets, now existing and hereafter created, for the sale of accounts meeting the requirements of applicable state law in such manner and in such jurisdictions as may be necessary or advisable to perfect or
evidence the sale and assignment of the Receivables to Purchaser, and to deliver a file-stamped copy of such financing statement or other evidence of such filing to Purchaser. 

(c)      In connection with such sale, RPA Seller further agrees, at its own
expense, on or prior to the date of this Supplemental Conveyance, to indicate in its appropriate computer files that all Receivables created in connection with the Additional Accounts designated hereby have been conveyed to Purchaser pursuant to
this Supplemental Conveyance. 
 Section 4.  Acceptance by Purchaser.  Purchaser hereby
acknowledges its acceptance of all right, title and interest to the property, now existing and hereafter arising, conveyed to Purchaser pursuant to Section 3(a) of this Supplemental Conveyance, and declares that it shall maintain such right,
title and interest. Purchaser further agrees that, on or prior to the execution and delivery of this Supplemental Conveyance, RPA Seller shall deliver to Purchaser the supplement to the Account Schedule described in Section 2 of this
Supplemental Conveyance. 
 Section 5.  Representations and Warranties of RPA Seller.  RPA
Seller hereby represents and warrants to Purchaser as of the date of this Supplemental Conveyance and as of the Addition Date that: 

(a)      Legal, Valid and Binding
Obligation.   This Supplemental Conveyance constitutes a legal, valid and binding obligation of RPA Seller enforceable against RPA Seller in accordance with its terms, except as such enforceability may be limited by applicable
Debtor Relief Laws now or hereinafter in effect and by general principles of equity (whether considered in a suit at law or in equity); 

  
 A-2 

 (b)      Eligibility of
Accounts.  Each Additional Account designated hereby is an Eligible Account and each Receivable in such Additional Account is an Eligible Receivable; 

(c)      Selection Procedures.  No selection procedures
believed by RPA Seller to be materially adverse to the interests of Purchaser or its assignees were used in selecting the Additional Accounts from the available Eligible Accounts; 

(d)      Insolvency.  RPA Seller is not insolvent and,
after giving effect to the conveyance set forth in Section 3 of this Supplemental Conveyance, will not be insolvent; no Insolvency Event with respect to RPA Seller or Purchaser has occurred, and the transfer pursuant to Section 3(a) has
not been made in contemplation thereof; 
 (e)      Sale of
Receivables.  This Supplemental Conveyance constitutes a valid sale to Purchaser of all right, title and interest of RPA Seller in the Receivables and other Related Assets now existing or hereafter created from time to time in the
Additional Accounts, and such property will be held by Purchaser free and clear of any Lien; 

(f)      No Conflict.     The execution
and delivery of this Supplemental Conveyance, the performance of the transactions contemplated by this Supplemental Conveyance and the fulfillment of the terms hereof, will not conflict with, result in any breach of any of the material terms and
provisions of, or constitute (with or without notice or lapse of time or both) a material default under, any indenture, contract, agreement, mortgage, deed of trust or other instrument to which RPA Seller is a party or by which it or its properties
are bound; 
 (g)      No
Violation.     The execution and delivery of this Supplemental Conveyance by RPA Seller, the performance of the transactions contemplated by this Supplemental Conveyance and the fulfillment of the terms hereof
applicable to RPA Seller will not conflict with or violate any Requirements of Law applicable to RPA Seller; 

(h)      No Proceedings.  There are no proceedings or
investigations, pending or, to the best knowledge of RPA Seller, threatened against RPA Seller before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality (i) asserting the invalidity of the
Receivables Purchase Agreement or this Supplemental Conveyance, (ii) seeking to prevent the consummation of any of the transactions contemplated by the Receivables Purchase Agreement or this Supplemental Conveyance, (iii) seeking any
determination or ruling that, in the reasonable judgment of RPA Seller, would materially and adversely affect the performance of RPA Seller of its obligations under the Receivables Purchase Agreement or this Supplemental Conveyance or
(iv) seeking any determination or ruling that would materially and adversely affect the validity or enforceability of this Supplemental Conveyance; and 

(i)      All Consents.   All approvals,
authorizations, consents, orders or other actions of any Person or any Governmental Authority required to be obtained by RPA Seller in connection with the execution and delivery of this Supplemental Conveyance by RPA Seller and the performance of
the transactions contemplated by this Supplemental Conveyance by RPA Seller, have been obtained. 

  
 A-3 

 Section 6.    Ratification of the Receivables
Purchase Agreement.  The Receivables Purchase Agreement is hereby ratified, and all references to the “Receivables Purchase Agreement,” to “this Agreement” and “herein” in the Transaction Documents shall
from and after the Addition Date be references to the Receivables Purchase Agreement as supplemented by this Supplemental Conveyance. Except as expressly amended hereby, all the representations, warranties, terms, covenants and conditions of the
Receivables Purchase Agreement shall remain unamended and shall continue to be, and shall, remain, in full force and effect in accordance with its terms. Except as expressly provided herein, this Supplemental Conveyance shall not constitute or be
deemed to constitute a waiver of compliance with or consent to non-compliance with any term or provision of the Receivables Purchase Agreement. 

Section 7.    Counterparts.    This Supplemental Conveyance may be executed in
any number of counterparts, all of which taken together shall constitute one and the same instrument. 

  
 A-4 

 IN WITNESS WHEREOF, the undersigned have caused this Supplemental Conveyance to
be duly executed and delivered by their respective duly authorized officers on the day and the year first above written. 
  

 

			
	 WFB FUNDING, LLC,

	 as Purchaser

		
	 By:
	 	 WFB Funding Corporation,

		 	 its Managing Member

 
					
			
	 By
	 	  
	 	

 
					
	 Name
	 	  
	 	

 
					
	 Title
	 	  
	 	

 
			
	
	 WORLD’S FOREMOST BANK,

NATIONAL ASSOCIATION,
 as RPA
Seller

 
					
			
	 By
	 	  
	 	

 
					
	 Name
	 	  
	 	

 
					
	 Title
	 	  
	 	

  
  
  

 
  
  

 
 SUPPLEMENTAL CONVEYANCE SIGNATURE PAGE 

  
 A-5 

 EXHIBIT B 

FORM OF SUBORDINATED NOTE 
  

FOR VALUE RECEIVED, the undersigned, WFB FUNDING, LLC, a Nebraska limited liability company (“Purchaser”), hereby
unconditionally promises to pay to the order of WORLD’S FOREMOST BANK, NATIONAL ASSOCIATION (“Holder”) in lawful money of the United States of America in immediately available funds on the Subordinated Note Maturity Date, the
aggregate unpaid amount (as shown in Holder’s records or, at Holder’s option, on the schedule attached hereto and any continuation thereof) of all borrowings made by Purchaser from Holder to fund the acquisition of Existing Assets,
Receivables and Related Assets in connection with the transactions contemplated by the Receivables Purchase Agreement, dated as of February 4, 2003 (as amended and supplemented from time to time, the “Receivables Purchase Agreement”),
among Purchaser and Holder. 
 Capitalized terms used and not otherwise defined herein have the meanings assigned to them in
the Receivables Purchase Agreement. 
 The undersigned agrees to pay interest from the date hereof on the unpaid principal
amount hereof from time to time at the rate and at the times specified in or pursuant to the Receivables Purchase Agreement. Interest shall be payable in arrears on each Interest Payment Date and upon final payment of the unpaid principal amount
hereof. Purchaser may at its option prepay this note (“Note”) in whole or in part at any time and from time to time; provided that in no event shall the holder hereof have any right to demand any payment of principal hereunder prior to the
Subordinated Note Maturity Date. 
 This Note is subordinate and junior in right and time of payment to all “Senior
Debt” of Purchaser, which is any Indebtedness of Purchaser and all renewals, extensions, refinancings and refundings thereof, except any such Indebtedness that expressly provides that it is not senior or superior in right of payment hereto.
“Indebtedness” is any indebtedness, whether or not contingent, in respect of borrowed money or evidenced by bonds, notes, certificates representing ownership interests, debentures or similar instruments or letters of credit (or
reimbursement agreements in respect thereto) and guarantees of any of the foregoing, whether or not any such indebtedness would appear as a liability on a balance sheet of Purchaser prepared on a consolidated basis in accordance with generally
accepted accounting principles, and includes all obligations of Purchaser under the Pooling and Servicing Agreement, all Supplements thereto, all Certificates issued thereunder and any other Transaction Document to which Purchaser is a party. 

All scheduled payments of principal and interest in respect of Senior Debt, including all payments and distributions to be
made with respect to the Certificates, must be paid in full before this Note shall be payable, and all scheduled payments of principal of and interest on this Note shall be payable only to the extent that Purchaser, after paying all of its accounts
payable and other expenses and obligations, has the funds to make such payments. Purchaser agrees, and the holder hereof by accepting this Note agrees, to the subordination provisions herein contained. 

  
 B-1 

 Upon prior written notice to Purchaser and with the prior written consent of each
Credit Enhancement Provider, the holder hereof may sell, pledge, assign or otherwise transfer this Note; provided, however, that, immediately prior to completion of such sale, pledge, assignment or transfer, the Rating Agency Condition is satisfied.

 This Note shall be governed by and construed in accordance with the laws of the State of Nebraska. 

The holder of this Note, by its acceptance hereof, hereby covenants and agrees that it will not at any time institute against
Purchaser any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or other proceedings under any United States federal or state bankruptcy or similar law. 

IN WITNESS WHEREOF, Purchaser has caused this Subordinated Note to be duly executed as of the day and year first above
written. 
  

			
	 WFB FUNDING, LLC

 
			
		
	 By:
	 	 WFB Funding Corporation,

		 	 its Managing Member

 
			
		
	 By
	 	  

 
			
	 Name
	 	  

 
			
	 Title
	 	  

  
 B-2 

 Schedule Attached to Subordinated Note dated
                ,        of WFB FUNDING, LLC payable to the order of WORLD’S FOREMOST BANK, NATIONAL ASSOCIATION.

  

							
	 Date and

Amount of

Borrowing
	  	Date and
Amount of
Repayment	  	Unpaid Principal
Balance	  	Notation Made
by
				
	 	  	 	  	 	  	 
				
	 	  	 	  	 	  	 
				
	 	  	 	  	 	  	 
				
	 	  	 	  	 	  	 
				
	 	  	 	  	 	  	 
				
	 	  	 	  	 	  	 
				
	 	  	 	  	 	  	 
				
	 	  	 	  	 	  	 
				
	 	  	 	  	 	  	 
				
	 	  	 	  	 	  	 

  
 B-3 

 EXHIBIT C 

PROVISIONS TO BE INCLUDED IN OPINION OF COUNSEL 

WITH RESPECT TO ADDITION OF ACCOUNTS 
  

The opinions set forth below may be subject to certain qualifications, assumptions, limitations and exceptions taken or made
in the Opinions of Counsel delivered on any applicable Closing Date. 
 1.     The Receivables
arising in such Additional Accounts constitute “accounts” as defined in the UCC. 

2.     The Receivables Purchase Agreement, as supplemented by the Supplemental Conveyance, creates in
favor of Purchaser (and the Trustee, as its assignee) a security interest in RPA Seller’s rights in the Receivables in such Additional Accounts and the proceeds thereof (the “Specified Assets”). 

3.     The security interest in the Specified Assets created by the Receivables Purchase Agreement
will be perfected by the filing of the Financing Statements as described and defined in such opinion. Based solely upon our review of the UCC Searches as described and defined in such opinion, we hereby confirm to you that no Person other than the
Purchaser (and the Trustee, as its assignee) has filed any financing statement with the Filing Offices as described and defined in such opinion that covers the Specified Assets and that would have priority over the security interest of the Purchaser
(and the Trustee, as its assignee) by virtue of such filing. 

  
 C-1 

 EXHIBIT D 

PROVISIONS TO BE INCLUDED IN 

ANNUAL OPINION OF COUNSEL 

The opinions set forth below may be subject to certain qualifications, assumptions, limitations and exceptions taken or made
in the Opinion of Counsel to RPA Seller with respect to similar matters delivered on the Initial Closing Date (as defined in the Pooling and Servicing Agreement). Unless otherwise indicated, all capitalized terms used herein shall have the
meanings assigned in or pursuant to the Receivables Purchase Agreement to which this Exhibit D is attached. 

1.       No further filings or actions are required under the UCC or other Nebraska law
prior to               ,         , in order to maintain the perfection and priority of the first priority security interests
created by the Transaction Documents in favor of Purchaser (and the Trustee, as its assignee) in the Receivables and the proceeds thereof (the “Specified Assets”). 

2.       Based solely upon our review of the UCC Searches as described and defined in such
opinion, we hereby confirm to you that no Person other than Purchaser (and the Trustee, as its assignee) has filed any financing statement with the Filing Offices as described and defined in such opinion that covers the Specified Assets and that
would have priority over the security interest, of Purchaser (and the Trustee, as its assignee) by virtue of such filing. 

3.       Confirmation or update, as applicable, of the FIRREA analysis delivered on the
Initial Closing Date. 

  
 D-1 

 SCHEDULE I 

ACCOUNT SCHEDULE—DELIVERED 

AS COMPUTER FILE OR MICROFICHE 

[Delivered to the Trustee] 

  
 S-1

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