Document:

EXHIBIT 4.4

 

OMNIBUS AMENDMENT

TO

SWAP AGREEMENTS

 

This OMNIBUS AMENDMENT, dated as of April 10, 2006
(this “Amendment”), is entered into among: GE Capital Credit Card Master
Note Trust, a Delaware statutory trust (the “Trust”) and SWISS RE FINANCIAL PRODUCTS CORPORATION (the
“Counterparty”).

 

BACKGROUND

 

1.             The
Trust and the Counterparty are parties to swap agreements identified on Exhibit
A hereto (collectively, the “Swap Agreements”).

 

2.             The Trust and the Counterparty desire to amend the Swap
Agreements as set forth herein.

 

AMENDMENTS

 

The parties hereto agree as follows:

 

SECTION 1. DEFINITIONS.
As used herein, (a) capitalized terms which are defined in the preamble
hereto shall have the meanings as so defined, and (b) capitalized terms not so
defined shall have the meanings set forth in the Swap Agreements.

 

SECTION 2. AMENDMENTS TO
SWAP AGREEMENTS. Each confirmation included in the Swap Agreements shall be
amended by deleting the definition of “Business Day” and substituting
therefore:

 

“Business Day:   
New York and Connecticut”.

 

SECTION 3. EFFECTIVENESS.
The amendments set forth in Section 2 above shall become effective as of
the date first written above; provided that (i) each of the Trust and
the Counterparty shall have executed a counterpart of this Amendment, and (ii)
the Rating Agency Condition shall have been satisfied with respect to the Swap
Agreements relating to the Series 2004-2 (Class A) Notes, Series 2004-2 (Class
B) Notes, and the Series 2004-2 (Class C) Notes.

 

SECTION 4. BINDING EFFECT; RATIFICATION. (a)   On and after
the execution and delivery hereof, (i) this
Amendment shall be a part of each Swap Agreement amended hereby and (ii) each reference in each such amended Swap
Agreement to “this Agreement” or “hereof”, “hereunder” or words of like import,
and each reference in any related Indenture Supplement, shall mean and be a
reference to such Swap Agreement as amended hereby.

 

(b)           Except as expressly amended hereby,
the Swap Agreements shall remain in full force and effect and are hereby
ratified and confirmed by the parties hereto.

 

 

SECTION 5. MISCELLANEOUS. (a) THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING SECTION
5-1401(1) OF THE GENERAL OBLIGATIONS LAW, BUT WITHOUT REGARD TO ANY OTHER
CONFLICT OF LAW PROVISIONS THEREOF) AND ANY APPLICABLE LAWS OF THE UNITED
STATES OF AMERICA.

 

(b)           Headings used herein are for
convenience of reference only and shall not affect the meaning of this
Amendment.

 

(c)           This Amendment may be executed in any
number of counterparts, and by the parties hereto on separate counterparts,
each of which shall be an original and all of which taken together shall
constitute one and the same agreement. Executed counterparts may be delivered electronically.

 

* * * * *

 

2

 

IN WITNESS WHEREOF,
the parties have executed this Amendment by their respective officers thereunto
duly authorized as of the date first above written.

 

	
   

  	
  GE CAPITAL CREDIT CARD MASTER NOTE TRUST

  
	
   

  	
   

  
	
   

  	
  By: The Bank of New York (Delaware), not in
  its individual capacity, but as Trustee on behalf of the Issuer

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kristine K. Gullo

  	
   

  
	
   

  	
   

  
	
   

  	
  Name: Kristine K. Gullo

  
	
   

  	
   

  
	
   

  	
  Title: Vice President

  

 

Omnibus Amendment to Swap

Agreements, Swiss Re

 

S-1

 

	
   

  	
  SWISS RE FINANCIAL PRODUCTS
  CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Linda Singer

  	
   

  
	
   

  	
   

  
	
   

  	
  Name: Linda Singer

  
	
   

  	
   

  
	
   

  	
  Title: Vice President

  

 

S-2

 

EXHIBIT A

 

Series
2004-VFN5 (Class A) ISDA 2002 Master Agreement (“Master Agreement”)
dated as of December 29, 2004, between Swiss Re Financial Products Corporation
and GE Capital Credit Card Master Note Trust; the related Schedule to the
Master Agreement dated as of December 29, 2004, between Swiss Re Financial
Products Corporation and GE Capital Credit Card Master Note Trust; and the
Confirmation dated December 29, 2004, Transaction Reference #499401, between
Swiss Re Financial Products Corporation and GE Capital Credit Card Master Note
Trust, relating to Series 2004-VFN5 (Class A);

 

Series
2004-VFN5 (Class B) ISDA 2002 Master Agreement (“Master Agreement”)
dated as of December 29, 2004, between Swiss Re Financial Products Corporation
and GE Capital Credit Card Master Note Trust; the related Schedule to the
Master Agreement dated as of December 29, 2004, between Swiss Re Financial
Products Corporation and GE Capital Credit Card Master Note Trust; and the
Confirmation dated December 29, 2004, Transaction Reference #499420, between
Swiss Re Financial Products Corporation and GE Capital Credit Card Master Note
Trust, relating to Series 2004-VFN5 (Class B);

 

Series 2004-2
(Class A) ISDA 2002 Master Agreement (“Master Agreement”) dated as of
September 22, 2004, between Swiss Re Financial Products Corporation and GE
Capital Credit Card Master Note Trust; the related Schedule to the Master
Agreement dated as of September 22, 2004, between Swiss Re Financial Products
Corporation and GE Capital Credit Card Master Note Trust; and the Confirmation
dated September 22, 2004,Transaction Reference #430086, between Swiss Re
Financial Products Corporation and GE Capital Credit Card Master Note Trust,
relating to Series 2004-2 (Class A);

 

Series 2004-2
(Class B) ISDA 2002 Master Agreement (“Master Agreement”) dated as of
September 22, 2004, between Swiss Re Financial Products Corporation and GE
Capital Credit Card Master Note Trust; the related Schedule to the Master
Agreement dated as of September 22, 2004, between Swiss Re Financial Products
Corporation and GE Capital Credit Card Master Note Trust; and the Confirmation
dated September 22, 2004,Transaction Reference #430091, between Swiss Re
Financial Products Corporation and GE Capital Credit Card Master Note Trust,
relating to Series 2004-2 (Class B);

 

Series 2004-2
(Class C) ISDA 2002 Master Agreement (“Master Agreement”) dated as of
September 22, 2004, between Swiss Re Financial Products Corporation and GE
Capital Credit Card Master Note Trust; the related Schedule to the Master Agreement
dated as of September 22, 2004, between Swiss Re Financial Products Corporation
and GE Capital Credit Card Master Note Trust; and the Confirmation dated
September 22, 2004,Transaction Reference #430095,

 

A-1

 

between Swiss Re Financial
Products Corporation and GE Capital Credit Card Master Note Trust, relating to
Series 2004-2 (Class C).

 

A-2Exhibit 10.11

 

SALARY
CONTINUATION AGREEMENT

 

This Salary Continuation Agreement (the “Agreement”)
is made this 19th day of January, 2005, by and among First Capital
Bank Holding Corporation, a Florida corporation (the “Company”), First National
Bank of Nassau County, a national bank organized under the laws of the United
States (the “Bank”) (the “Company and the Bank being referred to herein
collectively as the “Employer”) and Timothy S. Ayers (the “Executive”).

 

WITNESSETH

 

WHEREAS, the Bank is a national bank
organized under the laws of the United States and operating in Nassau County,
Florida;

 

WHEREAS, Executive is the Senior Vice
President of Employer; and

 

WHEREAS, the parties desire to enter into
this agreement to provide for certain severance payments to Executive in the
event there is a Change in Control (as defined herein) and in accordance of the
terms and conditions of this Agreement.

 

NOW, THEREFORE, in consideration of Executive’s
services to Employer, the mutual covenants contained herein, and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto, intending to be legally bound, do hereby
agree as follows:

 

1.                                       Definitions

 

a.                                       “Cause” shall mean (A) the commission by the Executive of
a willful act (including, without limitation, a dishonest or fraudulent act) or
a grossly negligent act, or the willful or grossly negligent omission to act by
the Executive, which is intended to cause, causes, or is reasonably likely to
cause material harm to the Employer (including harm to its business
reputation); (B) the indictment of the Executive for the commission or
perpetration by the Executive of any felony or any crime involving dishonesty,
moral turpitude or fraud; (C) the material breach by the Executive of this
Agreement that, if susceptible of cure, remains uncured 10 days following
written notice to the Executive of such breach; (D) the exhibition by the
Executive of a standard of behavior within the scope of his employment that is
materially disruptive to the orderly conduct of the Employer’s business
operations (including, without limitation, substance abuse or sexual
misconduct) to a level which, in the Board of Directors’ good faith and
reasonable judgment, is materially detrimental to the Employer’s best interest,
that, if susceptible of cure, remains uncured 10 days following written notice
to the Executive of such specific inappropriate behavior, (E) the receipt
of any form of notice, written or otherwise, that any regulatory agency having
jurisdiction over the Employer intends to institute any form of formal or
informal (e.g., a memorandum of understanding which relates to the Executive’s
performance) regulatory action against the Executive or the Employer if the
Board of Directors in good faith determines that the subject matter of such
action involves acts or omissions by or under the supervision of the Executive
or that termination of the Executive would advance the Employer’s compliance
with the purpose of the action or would assist the Employer in avoiding or
reducing the restrictions or adverse effects to the Employer related to the
regulatory action; or 

 

 

(F) the failure of the Executive to render the services hereunder
in accordance with an appropriate performance standard determined in the sole
discretion of the Board of Directors;

 

b.                                      “Change In Control” shall mean the occurrence during the Term
of any of the following events, unless such event is a result of a Non-Control
Transaction:

 

(i)                  The individuals
who, as of the date of this Agreement, are members of the Board of Directors of
the Company (the “Incumbent Board”)
cease for any reason to constitute at least 50% of the Board of Directors of
the Company; provided, however, that if the election, or
nomination for election by the Company’s shareholders, of any new director was
approved in advance by a vote of at least 50% of the Incumbent Board, such new
director shall, for purposes of this Agreement, be considered as a member of
the Incumbent Board; provided, further, that no individual shall
be considered a member of the Incumbent Board if such individual initially
assumed office as a result of either an actual or threatened election contest, or
other actual or threatened solicitation of proxies, proxy contest, or consents by
or on behalf of any person other than the Board of Directors of the Company,
including by reason of any agreement intended to avoid or settle any election
contest or proxy contest.

 

(ii)               An acquisition
(other than directly from the Company) of any voting securities of the Company
(the “Voting Securities”) by any “Person” (as the term “person” is used for purposes of Section 13(d) or
14(d) of the Exchange Act) immediately after which such Person has “Beneficial Ownership” (within the meaning of Rule 13d-3
promulgated under the Exchange Act) of 50% or more of the combined voting power
of the Company’s then outstanding Voting Securities; provided, however,
that in determining whether a Change in Control has occurred, Voting Securities
which are acquired in a Non-Control Acquisition shall not constitute an
acquisition which would cause a Change in Control.

 

(iii)            Consummation of: (i) a
merger, consolidation, or reorganization involving the Company; (ii) a
complete liquidation or dissolution of the Company; or (iii) the sale or
other disposition of all or substantially all of the assets of the Company to
any Person (other than a transfer to a Subsidiary).

 

(iv)           A notice of an
application is filed with the Office of Comptroller of the Currency (the “OCC”) or the Federal Reserve Board or any other bank or
thrift regulatory approval (or notice of no disapproval) is granted by the
Federal Reserve; the OCC, the Federal Deposit Insurance Corporation, or any
other regulatory authority for permission to acquire control of the Company or
any of its banking subsidiaries; provided that if the application is filed in
connection with a transaction which has been approved by the Board, then the
Change in Control shall not be deemed to occur until consummation of the
transaction.

 

2

 

c.                                       “Good Reason” shall mean the occurrence after a Change in
Control of any of the events or conditions described in subsections (i) through
(viii) hereof:

 

(i)                  a change in the
Executive’s status, title, position or responsibilities (including reporting
responsibilities) which, in the Executive’s reasonable judgment, represents an
adverse change from his status, title, position or responsibilities as in
effect at any time within ninety days preceding the date of a Change in Control
or at any time thereafter; the assignment to the Executive of any duties or
responsibilities which, in the Executive’s reasonable judgment, are
inconsistent with his status, title, position or responsibilities as in effect
at any time within ninety days preceding the date of a Change in Control or at
any time thereafter; any removal of the Executive from or failure to reappoint
or reelect him to any of such offices or positions, except in connection with
the termination of his employment for disability or Cause, as a result of his
death, or by the Executive other than for Good Reason, or any other change in
condition or circumstances that in the Executive’s reasonable judgment makes it
materially more difficult for the Executive to early out the duties and
responsibilities of his office than existed at any time within ninety days
preceding the date of Change in Control or at any time thereafter;

 

(ii)               a reduction in the
Executive’s base salary or any failure to pay the Executive any compensation or
benefits to which he is entitled within 10 days of the date due;

 

(iii)            the Employer’s
requiring the Executive to be based at any place outside a 30-mile radius from
the executive offices occupied by the Executive immediately prior to the Change
in Control, except for reasonably required travel on the Employer’s business
which is not materially greater than such travel requirements prior to the
Change in Control;

 

(iv)           the failure by the
Employer to (A) continue in effect (without reduction in benefit level
and/or reward opportunities) any material compensation or employee benefit plan
in which the Executive was participating at any time within 90 days preceding
the date of a Change in Control or at any time thereafter, unless such plan is
replaced with a plan that provides substantially equivalent compensation or
benefits to the Executive, or (B) provide the Executive with compensation
and benefits, in the aggregate, at least equal (in terms of benefit levels
and/or reward opportunities) to those provided for under each other employee
benefit plan program and practice in which the Executive was participating at
any time within 90 days preceding the date of a Change in Control or at any
time thereafter;

 

(v)              the insolvency or
the filing (by any party, including the Company or the Employer) of a petition
for bankruptcy of the Company or the Employer, which petition is not dismissed
within 60 days;

 

3

 

(vi)           any material breach by
the Employer of any material provision of this Agreement;

 

(vii)        any purported termination
of the Executive’s employment for Cause by the Employer which does not comply
with the terms of this Agreement; or

 

(viii)     the failure of the Employer
to obtain an agreement, satisfactory to the Executive, from any successor or
assign to assume and agree to perform this Agreement, as contemplated in Section 4
hereof.

 

Any event or condition described in clause (i) through
(viii) above which occurs prior to a Change in Control but which the
Executive reasonably demonstrates (A) was at the request of a third party,
or (B) otherwise arose in connection with, or in anticipation of, a Change
in Control which actually occurs, shall constitute Good Reason for purposes of
this Agreement, notwithstanding that it occurred prior to the Change in Control.
The Executive’s right to terminate his employment for Good Reason shall not be
affected by his incapacity due to physical or mental illness.

 

d.                                      “Non-Control Transaction” shall mean a transaction described
below:

 

(i)                  the shareholders
of the Company, immediately before such merger, consolidation or
reorganization, own, directly or indirectly, immediately following such merger,
consolidation or reorganization, at least 50% of the combined voting power of
the outstanding voting securities of the corporation resulting from such
merger, consolidation or reorganization (the “Surviving
Corporation”) in substantially the same proportion as their
ownership of the Voting Securities immediately before such merger,
consolidation or reorganization; and

 

(ii)               immediately
following such merger, consolidation or reorganization, the number of directors
on the board of directors of the Surviving Corporation who were members of the
Incumbent Board shall at least equal the number of directors who were
affiliated with or appointed by the other party to the merger, consolidation or
reorganization.

 

e.                                       “Notice of Termination” shall mean a written notice of
termination from the Employer or the Executive which specifies an effective
date of termination, indicates the specific termination provision in this
Agreement relied upon, and, in the case of a termination for Good Reason or for
Cause, sets forth in reasonable detail the facts and circumstances claimed to
provide a basis for termination of the Executive’s employment under the
provision so indicated.

 

2.                                       Payments
to Executive

 

If Executive’s employment is terminated (a) Upon
a Change in Control, for any reason upon delivery of notice to the Employer
within a 12 month period after the occurrence of a Change in Control; (b) for
Good Reason pursuant to Section 1(c)(iv); or (c) if the Employer
terminates the Executive Without Cause after a Change in Control, then, in
addition to other rights and remedies available in law or equity, the Executive
shall be entitled to the following (i) 

 

4

 

the Employer shall pay the Executive in cash within 15 days of such
termination date any sums due him as base salary and/or reimbursement of expenses
through the date of such termination plus any bonus earned or accrued under the
Bonus Plan through the date of termination (including any amounts awarded for
previous years but which were not yet vested) and a pro  rata
share of any bonus with respect to the current fiscal year which had been
earned as of the date of the Executive’s termination (and any forfeiture in
other restrictive provisions applicable to each award shall not apply); and (ii) the
Employer shall pay the Executive in cash within 15 days of such termination
date one lump sum payment in an amount equal to the sum of (1) the
Executive’s then current annual base salary, and (2) the average bonuses
paid to Executive during the three preceding fiscal years.

 

3.                                       Governing
Law; Jurisdiction and Venue

 

This Agreement shall be governed by and
construed and enforced in accordance with the laws of the State of Florida
without giving effect to the conflict of laws principles thereof. The parties
agree to the exclusive jurisdiction and venue of the federal courts sitting in
Nassau County, Florida with regard to any actions that arise out of this
Agreement.

 

4.                                       Successors;
Binding Agreement

 

This Agreement shall be binding upon and
shall inure to the benefit of Employer and its successors and assigns. Neither
this Agreement nor any right or interest hereunder shall be assignable or
transferable by Executive, his beneficiaries or legal representatives, except
by will or by the laws of descent and distribution, This Agreement shall inure
to the benefit of and be enforceable by Executive’s legal personal
representative.

 

5.                                       Entire
Agreement

 

This Agreement constitutes the entire
agreement between the parties hereto and supersedes all prior agreements, if
any, understandings and arrangements, oral or written, between the parties
hereto with respect to the subject matter hereof.

 

6.                                       Counterparts

 

This Agreement may be executed in one or
more counterparts, each of which shall be deemed an original but all of which
together shall constitute one and the same instrument.

 

	
   

  	
  EMPLOYER

  
	
   

  	
   

  
	
   

  	
  FIRST CAPITAL BANK

  
	
   

  	
  HOLDING CORPORATION, a

  
	
   

  	
  Florida corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Suellen R. Garner

  	
   

  
	
   

  	
   

  	
  Name:Suellen R. Garner

  
	
   

  	
   

  	
  Title:Chairman

  

 

5

 

	
   

  	
  FIRST NATIONAL BANK OF

  
	
   

  	
  NASSAU COUNTY

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael G. Sanchez

  	
   

  
	
   

  	
   

  	
  Name: Michael G. Sanchez

  
	
   

  	
   

  	
  Title: President and CEO

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  EXECUTIVE

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ Timothy S. Ayers

  	
   

  
	
   

  	
  Name: Timothy S. Ayers

  
					

 

6

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