Document:

2007 Equity Compensation Plan

 Exhibit 10.10 
 SEI INVESTMENTS COMPANY 
 2007 EQUITY COMPENSATION PLAN 

 SEI INVESTMENTS COMPANY 
 2007 EQUITY COMPENSATION PLAN 
  

	 	1.	Purpose 

 The purpose of the Plan is to
provide designated (i) Employees of the Company and its subsidiaries, (ii) Non-Employee Directors of the Company and its subsidiaries and (iii) Consultants who perform services for the Company and its subsidiaries with the opportunity
to receive grants of Options and SARs. The Company believes that the Plan will encourage the participants to contribute materially to the growth of the Company, thereby benefiting the Company’s shareholders, and will align the economic
interests of the participants with those of the shareholders. 
 All capitalized terms shall be as defined in Section 2 below.

  

	 	2.	Definitions 

 Whenever used in this Plan, the
following terms will have the respective meanings set forth below: 
 (a) “Board” means the Company’s Board of
Directors. 
 (b) “Change of Control” shall be deemed to have occurred if: 
 (i) Any “person” (as such term is used in sections 13(d) and 14(d) of the Exchange Act) becomes a “beneficial owner” (as defined in
Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing more than 50% of the voting power of the then outstanding securities of the Company; provided that a Change of Control shall not be deemed to occur
as a result of a transaction in which the Company becomes a subsidiary of another corporation and in which the shareholders of the Company, immediately prior to the transaction, will beneficially own, immediately after the transaction, shares
entitling such shareholders to more than 50% of all votes to which all shareholders of the parent corporation would be entitled in the election of directors; 
 (ii) The consummation of (1) a merger or consolidation of the Company with another corporation where the shareholders of the Company, immediately prior to the merger or consolidation, will not beneficially own,
immediately after the merger or consolidation, shares entitling such shareholders to more than 50% of all votes to which all shareholders of the surviving corporation would be entitled in the election of directors, (2) a sale or other
disposition of all or substantially all of the assets of the Company, or (3) a liquidation or dissolution of the Company; or 
 (iii)
After the date on which this Plan is approved by the shareholders of the Company, directors are elected such that a majority of the members of the Board shall have been members of the Board for less than two years, unless the election or nomination
for election of each new director who was not a director at the beginning of such two-year period was approved by a vote of at least two-thirds of the directors then still in office who were directors at the beginning of such period. 

 (c) “Code” means the Internal Revenue Code of 1986, as amended. 
 (d) “Committee” means (i) with respect to Grants to Employees and Consultants, the Compensation Committee of the Board or another
committee appointed by the Board to administer the Plan, and (ii) with respect to Grants made to Non-Employee Directors, the Board or its delegate. Notwithstanding the foregoing, with respect to Grants to Employees that are intended to be
“qualified performance-based compensation” under section 162(m) of the Code, as well as to Employees who are officers of the Company, the Committee shall consist of two or more persons appointed by the Board, all of whom shall be
“outside directors” as defined under section 162(m) of the Code and related Treasury regulations and “non-employee directors” as defined under Rule 16b-3 promulgated under the Exchange Act. 
 (e) “Company” means SEI Investments Company and any successor corporation. 
 (f) “Company Stock” means the common stock of the Company. 
 (g) “Consultants” means any consultant or advisor who performs services for the Employer. 
 (h) “Effective Date” means June 1, 2007, subject to approval of the Plan by the shareholders of the Company. 
 (i) “Employee” means an employee of the Employer (including an officer or director who is also an employee), but excluding any person
who is classified by the Employer as a “contractor” or “consultant,” no matter how characterized by the Internal Revenue Service, other governmental agency or a court. Any change of characterization of an individual by the
Internal Revenue Service or any court or government agency shall have no effect upon the classification of an individual as an Employee for purposes of this Plan, unless the Committee determines otherwise. 
 (j) “Employer” means the Company and its subsidiaries. 
 (k) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 (l)
“Exercise Price” means the per share price at which shares of Company Stock may be purchased under an Option, as designated by the Committee. 
 (m) “Fair Market Value” means, as of any date, unless otherwise required by any applicable provisions of the Code or regulations thereunder, (i) if the principal trading market for the Company
Stock is a national securities exchange, the last reported sale price of Company Stock on the relevant date or (if there were no trades on that date) the latest preceding date upon which a sale was reported, (ii) if the Company Stock is not
principally traded on such exchange, the mean between the last reported “bid” and “asked” prices of Company Stock on the relevant date, as reported on the OTC Bulletin Board, or (iii) if the Company Stock is not publicly
traded or, if publicly traded, is not so reported, the Fair Market Value per share shall be as determined by the Committee. 
  

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 (n) “Grant” means an Option or SAR granted under the Plan. 
 (o) “Grant Agreement” means the written instrument that sets forth the terms and conditions of a Grant, including all amendments
thereto. 
 (p) “Incentive Stock Option” means an Option that is intended to meet the requirements of an incentive stock
option under section 422 of the Code. 
 (q) “Non-Employee Director” means a member of the Board, or a member of the Board
of Directors of a subsidiary, who is not an employee of the Employer. 
 (r) “Nonqualified Stock Option” means an Option
that is not intended to meet the requirements of section 422 of the Code. 
 (s) “Option” means an Incentive Stock Option or
Nonqualified Stock Option to purchase shares of Company Stock at a specified exercise price for a specified period of time, as described in Section 7. 
 (t) “Participant” means an Employee, Non-Employee Director or Consultant designated by the Committee to receive a Grant under the Plan. 
 (u) “Plan” means this SEI Investments Company 2007 Equity Compensation Plan, as in effect from time to time. 
 (v) “SAR” means an award of a stock appreciation right, as described in Section 8. 
  

	 	3.	Administration 

 (a) Committee. The
Plan shall be administered and interpreted by the Committee. Ministerial functions may be performed by an administrative committee comprised of Company employees appointed by the Committee. 
 (b) Committee Authority. The Committee shall have the sole authority to (i) determine the Participants to whom Grants shall be made under the
Plan, (ii) determine the type, size and terms and conditions of the Grants to be made to each such Participant, (iii) determine the time when the Grants will be made and the duration of any applicable exercise or restriction period,
including the criteria for exercisability and the acceleration of exercisability, (iv) amend the terms and conditions of any previously issued Grant, subject to the provisions of Section 14 below, and (v) deal with any other matters
arising under the Plan. 
 (c) Committee Determinations. The Committee shall have full power and express discretionary authority to
administer and interpret the Plan, to make factual determinations and to adopt or amend such rules, regulations, agreements and instruments for implementing the Plan and for the conduct of its business as it deems necessary or advisable, in its sole
discretion. The 

  

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Committee’s interpretations of the Plan and all determinations made by the Committee pursuant to the powers vested in it hereunder shall be conclusive
and binding on all persons having any interest in the Plan or in any Grant awarded hereunder. All powers of the Committee shall be executed in its sole discretion, in the best interest of the Company, not as a fiduciary, and in keeping with the
objectives of the Plan and need not be uniform as to similarly situated Participants. 
  

	 	4.	Grants 

 Grants under the Plan may consist of
Options as described in Section 7 and SARs as described in Section 8. All Grants shall be subject to the terms and conditions set forth herein and to such other terms and conditions consistent with the Plan as the Committee deems
appropriate and as are specified in writing by the Committee to the Participant in the Grant Agreement or an amendment to the Grant Agreement. The Committee shall approve the form and provisions of each Grant Agreement. Grants under a particular
Section of the Plan need not be uniform as among the Participants. All Grants shall be made conditional upon the Participant’s acknowledgement, in writing or by acceptance of the Grant, that all decisions and determinations of the Committee
shall be final and binding on the Participant, his or her beneficiaries and any other person having or claiming an interest under such Grant. 
  

	 	5.	Shares Subject to the Plan 

 (a) Shares
Authorized. Subject to adjustment as described in subsection (d) below, the aggregate number of shares of Company Stock that may be issued under the Plan is 10,000,000 shares. 
 (b) Source of Shares; Share Counting. Shares issued under the Plan may be authorized but unissued shares of Company Stock or reacquired shares of
Company Stock, including shares purchased by the Company on the open market for purposes of the Plan. If and to the extent Options or SARs granted under the Plan terminate, expire, or are canceled, forfeited, exchanged or surrendered without having
been exercised, the shares reserved for such Grants shall again be available for purposes of the Plan. Shares of Stock surrendered in payment of the Exercise Price of an Option, and shares withheld or surrendered for payment of taxes, shall not be
available for re-issuance under the Plan. If SARs are granted, the full number of shares subject to the SARs shall be considered issued under the Plan, without regard to the number of shares issued upon exercise of the SARs and without regard to any
cash settlement of the SARs. 
 (c) Individual Limits. All Grants under the Plan shall be expressed in shares of Company Stock. The
maximum aggregate number of shares of Company Stock with respect to which all Grants may be made under the Plan to any individual during any calendar year shall be 200,000 shares, subject to adjustment as described in subsection (d) below. The
individual limits of this subsection (c) shall apply without regard to whether the Grants are to be paid in Company Stock or cash. All cash payments shall equal the Fair Market Value of the shares of Company Stock to which the cash payments
relate. 
 (d) Adjustments. If, after April 3, 2007, there is any change in the number, kind or value of shares of Company Stock
outstanding (i) by reason of a stock dividend, spinoff, 

  

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recapitalization, stock split, or combination or exchange of shares, (ii) by reason of a merger, reorganization or consolidation, (iii) by reason
of a reclassification or change in par value, or (iv) by reason of any other extraordinary or unusual event affecting the outstanding Company Stock as a class without the Company’s receipt of consideration, or if the value of outstanding
shares of Company Stock is substantially reduced as a result of a spinoff or the Company’s payment of an extraordinary dividend or distribution, the maximum number of shares of Company Stock available for issuance under the Plan, the maximum
number of shares of Company Stock for which any individual may receive Grants in any year, the kind and number of shares covered by outstanding Grants, the kind and number of shares issued and to be issued under the Plan, and the price per share or
the applicable market value of such Grants shall be equitably adjusted by the Committee, in such manner as the Committee deems appropriate, to reflect any increase or decrease in the number of, or change in the kind or value of, the issued shares of
Company Stock to preclude, to the extent practicable, the enlargement or dilution of rights and benefits under the Plan and such outstanding Grants; provided, however, that any fractional shares resulting from such adjustment shall be eliminated. In
addition, in the event of a Change of Control of the Company, the provisions of Section 11 of the Plan shall apply. Any adjustments to outstanding Grants shall be consistent with section 409A and 424 of the Code, to the extent applicable. Any
adjustments determined by the Committee shall be final, binding and conclusive. 
  

	 	6.	Eligibility for Participation 

 (a)
Eligible Persons. All Employees, Non-Employee Directors and Consultants shall be eligible to participate in the Plan. 
 (b)
Selection of Participants. The Committee shall select the Employees, Non-Employee Directors and Consultants to receive Grants and shall determine the number of shares of Company Stock subject to each Grant. 
  

	 	7.	Options 

 (a) General Requirements.
The Committee may grant Options to an Employee, Non-Employee Director or Consultants upon such terms and conditions as the Committee deems appropriate under this Section 7. The Committee shall determine the number of shares of Company Stock
that will be subject to each Grant of Options to Employees, Non-Employee Directors and Consultants. 
 (b) Type of Option, Price and
Term. 
 (i) The Committee may grant Incentive Stock Options or Nonqualified Stock Options or any combination of the two, all in
accordance with the terms and conditions set forth herein. Incentive Stock Options may be granted only to Employees of the Company or its parents or subsidiaries, as defined in section 424 of the Code. Nonqualified Stock Options may be granted to
Employees, Non-Employee Directors or Consultants. 
 (ii) The Exercise Price of Company Stock subject to an Option shall be determined by the
Committee and may be equal to or greater than the Fair Market Value of a share of Company Stock on the date the Option is granted. However, an Incentive Stock Option 

  

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may not be granted to an Employee who, at the time of grant, owns stock possessing more than 10% of the total combined voting power of all classes of stock
of the Company or any parent or subsidiary, as defined in section 424 of the Code, unless the Exercise Price per share is not less than 110% of the Fair Market Value of the Company Stock on the date of grant. 
 (iii) The Committee shall determine the term of each Option, which shall not exceed ten years from the date of grant. However, an Incentive Stock Option
that is granted to an Employee who, at the time of grant, owns stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or any parent or subsidiary, as defined in section 424 of the Code, may not have
a term that exceeds five years from the date of grant. 
 (c) Exercisability of Options. 
 (i) Options shall become exercisable in accordance with such terms and conditions as may be determined by the Committee and specified in the Grant
Agreement. The Committee may grant Options that are subject to achievement of performance goals or other conditions. The Committee may accelerate the exercisability of any or all outstanding Options at any time for any reason. 
 (ii) The Committee may provide in a Grant Agreement that the Participant may elect to exercise part or all of an Option before it otherwise has become
exercisable. Any shares so purchased shall be restricted shares and shall be subject to a repurchase right in favor of the Company during a specified restriction period, with the repurchase price equal to the lesser of (A) the Exercise Price or
(B) the Fair Market Value of such shares at the time of repurchase, or such other restrictions as the Committee deems appropriate. 
 (iii) Options granted to persons who are non-exempt employees under the Fair Labor Standards Act of 1938, as amended, may not be exercisable for at least six months after the date of grant (except that such Options may become exercisable,
as determined by the Committee, upon the Participant’s death, disability or retirement, or upon a Change of Control or other circumstances permitted by applicable regulations). 
 (d) Termination of Employment or Service. Except as provided in the Grant Agreement, an Option may only be exercised while the Participant is
actively employed by the Employer, or actively providing service as a Non-Employee Director or Consultant; provided that for this purpose a Participant shall not be considered actively employed by or actively providing services to the Employer
during any paid notice or severance period. The Committee shall determine in the Grant Agreement under what circumstances and during what time periods a Participant may exercise an Option after termination of active employment or active service.

 (e) Exercise of Options. A Participant may exercise an Option that has become exercisable, in whole or in part, by delivering a
notice of exercise to the Company. The Participant shall pay the Exercise Price for the Option (i) in cash or by check, (ii) if permitted by the Committee, by delivering shares of Company Stock owned by the Participant and having a Fair
Market Value on the date of exercise equal to the Exercise Price or by attestation to 

  

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ownership of shares of Company Stock having an aggregate Fair Market Value on the date of exercise equal to the Exercise Price, (iii) by payment through
a broker in accordance with procedures permitted by Regulation T of the Federal Reserve Board, or (iv) by such other method as the Committee may approve, to the extent permitted by applicable law. Shares of Company Stock used to exercise an
Option shall have been held by the Participant for the requisite period of time to avoid adverse accounting consequences to the Company with respect to the Option. Payment for the shares pursuant to the Option, and any required withholding taxes,
must be received by the time specified by the Committee depending on the type of payment being made, but in all cases prior to the issuance of the Company Stock. 
 (f) Limits on Incentive Stock Options. Each Incentive Stock Option shall provide that, if the aggregate Fair Market Value of the Company Stock on the date of the grant with respect to which Incentive Stock
Options are exercisable for the first time by a Participant during any calendar year, under the Plan or any other stock option plan of the Company or a parent or subsidiary, as defined in section 424 of the Code, exceeds $100,000, then the Option,
as to the excess, shall be treated as a Nonqualified Stock Option. An Incentive Stock Option shall not be granted to any person who is not an Employee of the Company or a parent or subsidiary, as defined in section 424 of the Code. 
  

	 	8.	Stock Appreciation Rights 

 (a) General
Requirements. The Committee may grant SARs to Employees, Non-Employee Directors or Consultants separately or in tandem with an Option. The Committee shall establish the number of shares, the terms and the base amount of the SAR at the time the
SAR is granted. The base amount of each SAR may be equal to or greater than the Fair Market Value of a share of Company Stock as of the date of grant of the SAR. 
 (b) Tandem SARs. The Committee may grant tandem SARs either at the time the Option is granted or at any time thereafter while the Option remains outstanding; provided, however, that, in the case of an Incentive
Stock Option, SARs may be granted only at the date of the grant of the Incentive Stock Option. In the case of tandem SARs, the number of SARs granted to a Participant that shall be exercisable during a specified period shall not exceed the number of
shares of Company Stock that the Participant may purchase upon the exercise of the related Option during such period. Upon the exercise of an Option, the SARs relating to the Company Stock covered by such Option shall terminate. Upon the exercise of
SARs, the related Option shall terminate to the extent of an equal number of shares of Company Stock. 
 (c) Exercisability. An SAR
shall become exercisable in accordance with such terms and conditions as may be specified. The Committee may grant SARs that are subject to achievement of performance goals or other conditions. The Committee may accelerate the exercisability of any
or all outstanding SARs at any time for any reason. Except as provided in the Grant Agreement, an SAR may only be exercised while the Participant is actively employed by the Employer, or actively providing service as a Non-Employee Director or
Consultant; provided that for this purpose a Participant shall not be considered actively employed by or actively providing services to the Employer during any paid notice or severance period. A tandem SAR shall be exercisable only while the Option
to which it is related is exercisable. 
  

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 (d) Grants to Non-Exempt Employees. SARs granted to persons who are non-exempt employees under the
Fair Labor Standards Act of 1938, as amended, may not be exercisable for at least six months after the date of grant (except that such SARs may become exercisable, as determined by the Committee, upon the Participant’s death, Disability or
retirement, or upon a Change of Control or other circumstances permitted by applicable regulations). 
 (e) Exercise of SARs. When a
Participant exercises SARs, the Participant shall receive in settlement of such SARs an amount equal to the value of the stock appreciation for the number of SARs exercised. The stock appreciation for an SAR is the amount by which the Fair Market
Value of the underlying Company Stock on the date of exercise of the SAR exceeds the base amount of the SAR as specified in the Grant Agreement. 
 (f) Form of Payment. The Committee shall determine whether the stock appreciation for an SAR shall be paid in the form of shares of Company Stock, cash or a combination of the two. For purposes of calculating the number of shares of
Company Stock to be received, shares of Company Stock shall be valued at their Fair Market Value on the date of exercise of the SAR. If shares of Company Stock are to be received upon exercise of an SAR, cash shall be delivered in lieu of any
fractional share. 
  

	 	9.	Withholding of Taxes 

 (a) Required
Withholding. All Grants under the Plan shall be subject to applicable federal (including FICA), state and local tax withholding requirements. The Company may require that the Participant or other person receiving or exercising Grants pay to the
Company the amount of any federal, state or local taxes that the Company is required to withhold with respect to such Grants, or the Company may deduct from other wages paid by the Company the amount of any withholding taxes due with respect to such
Grants. 
 (b) Election to Withhold Shares. If the Committee so permits, shares of Company Stock may be withheld to satisfy the
Company’s tax withholding obligation with respect to Grants paid in Company Stock, at the time such Grants become taxable, up to an amount that does not exceed the minimum applicable withholding tax rate for federal (including FICA), state and
local tax liabilities. 
  

	 	10.	Transferability of Grants 

 (a)
Restrictions on Transfer. Except as described in subsection (b) below, only the Participant may exercise rights under a Grant during the Participant’s lifetime, and a Participant may not transfer those rights except by will or by
the laws of descent and distribution. When a Participant dies, the personal representative or other person entitled to succeed to the rights of the Participant may exercise such rights. Any such successor must furnish proof satisfactory to the
Company of his or her right to receive the Grant under the Participant’s will or under the applicable laws of descent and distribution. 
 (b) Transfer of Nonqualified Stock Options to or for Family Members. Notwithstanding the foregoing, the Committee may provide, in a Grant Agreement, that a Participant may transfer Nonqualified Stock Options to family members, or one
or more trusts or 

  

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other entities for the benefit of or owned by family members, consistent with applicable securities laws, according to such terms as the Committee may
determine; provided that the Participant receives no consideration for the transfer of a Nonqualified Stock Option and the transferred Nonqualified Stock Option shall continue to be subject to the same terms and conditions as were applicable to the
Nonqualified Stock Option immediately before the transfer. 
  

	 	11.	Consequences of a Change of Control 

 In the
event of a Change of Control, the Committee may take any one or more of the following actions with respect to or all outstanding Grants, without the consent of any Participant: (i) the Committee may determine that outstanding Options and SARs
shall be fully exercisable, as of the date of the Change of Control or at such other time as the Committee determines; (ii) the Committee may require that Participants surrender their outstanding Options and SARs in exchange for one or more
payments by the Company, in cash or Company Stock as determined by the Committee, in an amount equal to the amount, if any, by which the then Fair Market Value of the shares of Company Stock subject to the Participant’s unexercised Options and
SARs exceeds the Exercise Price, and on such terms as the Committee determines; (iii) after giving Participants an opportunity to exercise their outstanding Options and SARs, the Committee may terminate any or all unexercised Options and SARs
at such time as the Committee deems appropriate; or (iv) the Committee may determine that Grants that remain outstanding after the Change of Control shall be converted to similar grants of the surviving corporation (or a parent or subsidiary of
the surviving corporation). Such acceleration, surrender, termination, or conversion shall take place as of the date of the Change of Control or such other date as the Committee may specify. 
 (a) Other Transactions. The Committee may provide in a Grant Agreement that a sale or other transaction involving a subsidiary or other business
unit of the Company shall be considered a Change of Control for purposes of a Grant, or the Committee may establish other provisions that shall be applicable in the event of a specified transaction. 
  

	 	12.	Requirements for Issuance of Shares 

 No
Company Stock shall be issued in connection with any Grant hereunder unless and until all legal requirements applicable to the issuance of such Company Stock have been complied with to the satisfaction of the Committee. The Committee shall have the
right to condition any Grant made to any Participant hereunder on such Participant’s undertaking in writing to comply with such restrictions on his or her subsequent disposition of such shares of Company Stock as the Committee shall deem
necessary or advisable, and certificates representing such shares may be legended to reflect any such restrictions. Certificates representing shares of Company Stock issued under the Plan will be subject to such stop-transfer orders and other
restrictions as may be required by applicable laws, regulations and interpretations, including any requirement that a legend be placed thereon. No Participant shall have any right as a shareholder with respect to Company Stock covered by a Grant
until shares have been issued to the Participant. 
  

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	 	13.	Amendment and Termination of the Plan 

 (a)
Amendment. The Board may amend or terminate the Plan at any time; provided, however, that the Board shall not amend the Plan without approval of the shareholders of the Company if such approval is required in order to comply with the Code or
applicable laws, or to comply with applicable stock exchange requirements. No amendment or termination of this Plan shall, without the consent of the Participant, materially impair any rights or obligations under any Grant previously made to the
Participant under the Plan, unless such right has been reserved in the Plan or the Grant Agreement, or except as provided in Section 14(b) below. Notwithstanding anything in the Plan to the contrary, the Board may amend the Plan in such manner
as it deems appropriate in the event of a change in applicable law or regulations. 
 (b) No Repricing Without Shareholder Approval.
Notwithstanding anything in the Plan to the contrary, the Committee may not reprice Options or SARs, nor may the Board amend the Plan to permit repricing of Options or SARs, unless the shareholders of the Company provide prior approval for such
repricing. 
 (c) Termination of Plan. The Plan shall terminate on the day immediately preceding the tenth anniversary of its
Effective Date, unless the Plan is terminated earlier by the Board or is extended by the Board with the approval of the shareholders. The termination of the Plan shall not impair the power and authority of the Committee with respect to an
outstanding Grant. 
  

	 	14.	Miscellaneous 

 (a) Grants in Connection
with Corporate Transactions and Otherwise. Nothing contained in this Plan shall be construed to (i) limit the right of the Committee to make Grants under this Plan in connection with the acquisition, by purchase, lease, merger,
consolidation or otherwise, of the business or assets of any corporation, firm or association, including Grants to employees thereof who become Employees, or for other proper corporate purposes, or (ii) limit the right of the Company to grant
stock options or make other stock-based awards outside of this Plan. Without limiting the foregoing, the Committee may make a Grant to an employee of another corporation who becomes an Employee by reason of a corporate merger, consolidation,
acquisition of stock or property, reorganization or liquidation involving the Company in substitution for a grant made by such corporation. The terms and conditions of the Grants may vary from the terms and conditions required by the Plan and from
those of the substituted stock incentives, as determined by the Committee 
 (b) Compliance with Law. The Plan, the exercise of
Options and the obligations of the Company to issue or transfer shares of Company Stock under Grants shall be subject to all applicable laws and to approvals by any governmental or regulatory agency as may be required. With respect to persons
subject to section 16 of the Exchange Act, it is the intent of the Company that the Plan and all transactions under the Plan comply with all applicable provisions of Rule 16b-3 or its successors under the Exchange Act. In addition, it is the intent
of the Company that Incentive Stock Options comply with the applicable provisions of section 422 of the Code, that Grants of “qualified performance-based compensation” comply with the applicable provisions of section 162(m) of the Code and
that, to the extent applicable, Grants comply with the 

  

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requirements of section 409A of the Code or an exception from such requirements. To the extent that any legal requirement of section 16 of the Exchange Act
or section 422, 162(m) or 409A of the Code as set forth in the Plan ceases to be required under section 16 of the Exchange Act or section 422, 162(m) or 409A of the Code, that Plan provision shall cease to apply. The Committee may revoke any Grant
if it is contrary to law or modify a Grant to bring it into compliance with any valid and mandatory government regulation. The Committee may also adopt rules regarding the withholding of taxes on payments to Participants. The Committee may, in its
sole discretion, agree to limit its authority under this Section. 
 (c) Enforceability. The Plan shall be binding upon and
enforceable against the Company and its successors and assigns. 
 (d) Funding of the Plan; Limitation on Rights. This Plan shall be
unfunded. The Company shall not be required to establish any special or separate fund or to make any other segregation of assets to assure the payment of any Grants under this Plan. Nothing contained in the Plan and no action taken pursuant hereto
shall create or be construed to create a fiduciary relationship between the Company and any Participant or any other person. No Participant or any other person shall under any circumstances acquire any property interest in any specific assets of the
Company. To the extent that any person acquires a right to receive payment from the Company hereunder, such right shall be no greater than the right of any unsecured general creditor of the Company. 
 (e) Rights of Participants. Nothing in this Plan shall entitle any Employee, Non-Employee Director, Consultant or other person to any claim or
right to receive a Grant under this Plan. Neither this Plan nor any action taken hereunder shall be construed as giving any individual any rights to be retained by or in the employment or service of the Employer. 
 (f) No Fractional Shares. No fractional shares of Company Stock shall be issued or delivered pursuant to the Plan or any Grant. The Committee
shall determine whether cash, other awards or other property shall be issued or paid in lieu of such fractional shares or whether such fractional shares or any rights thereto shall be forfeited or otherwise eliminated. 
 (g) Employees Subject to Taxation Outside the United States. With respect to Participants who are subject to taxation in countries other than the
United States, the Committee may make Grants on such terms and conditions as the Committee deems appropriate to comply with the laws of the applicable countries, and the Committee may create such procedures, addenda and subplans and make such
modifications as may be necessary or advisable to comply with such laws. 
 (h) Governing Law. The validity, construction,
interpretation and effect of the Plan and Grant Agreements issued under the Plan shall be governed and construed by and determined in accordance with the laws of the Commonwealth of Pennsylvania, without giving effect to the conflict of laws
provisions thereof. 
  

 11Class A(2007-5) Terms Document

 Exhibit 4.1 
 CHASE ISSUANCE TRUST 
 as Issuing Entity 
 CLASS A(2007-5) TERMS DOCUMENT 
 dated as of April 11, 2007 
 to 
 AMENDED AND RESTATED 
 CHASESERIES INDENTURE SUPPLEMENT 
 dated as of October 15, 2004 
 to 
 SECOND AMENDED AND RESTATED 
 INDENTURE 
 dated as of March 14, 2006 
 WELLS FARGO BANK, NATIONAL ASSOCIATION 
 as Indenture Trustee and Collateral Agent 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	PAGE
	ARTICLE I Definitions and Other Provisions of General Application
			
	 Section 1.01
	  	Definitions	  	1
	 Section 1.02
	  	Governing Law	  	4
	 Section 1.03
	  	Counterparts	  	4
	 Section 1.04
	  	Ratification of Indenture and Indenture Supplement	  	4
	
	ARTICLE II The Class A(2007-5) Notes
			
	 Section 2.01
	  	Creation and Designation	  	5
	 Section 2.02
	  	Specification of Required Subordinated Amount and Other Terms	  	5
	 Section 2.03
	  	Interest Payment	  	6
	 Section 2.04
	  	Calculation Agent; Determination of LIBOR	  	6
	 Section 2.05
	  	Payments of Interest and Principal	  	7
	 Section 2.06
	  	Form of Delivery of Class A(2007-5) Notes; Depository; Denominations.	  	7
	 Section 2.07
	  	Delivery and Payment for the Class A(2007-5) Notes	  	8
	 Section 2.08
	  	Supplemental Indenture	  	8

 THIS CLASS A(2007-5) TERMS DOCUMENT (this “Terms Document”), by and between the CHASE ISSUANCE
TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuing Entity”), having its principal office at c/o Wilmington Trust Company, 1100 North Market Street, Wilmington, Delaware 19890-1600, and WELLS FARGO BANK,
NATIONAL ASSOCIATION, a national banking association, as indenture trustee (the “Indenture Trustee”) and collateral agent (the “Collateral Agent”), is made and entered into as of April 11, 2007. 
 Pursuant to this Terms Document, the Issuing Entity and the Indenture Trustee shall create a new Tranche of CHASEseries Class A Notes and shall
specify the principal terms thereof. 
 ARTICLE I 
 Definitions and Other Provisions of General Application 
 Section 1.01 Definitions For all
purposes of this Terms Document, except as otherwise expressly provided or unless the context otherwise requires: 
 (1) the terms defined in
this Article have the meanings assigned to them in this Article, and include the plural as well as the singular; 
 (2) all other terms used
herein which are defined in the Indenture Supplement, the Indenture or the Asset Pool Supplement, either directly or by reference therein, have the meanings assigned to them therein; 
 (3) as used in this Terms Document and in any certificate or other document made or delivered pursuant hereto or thereto, accounting terms not defined in
this Terms Document or in any such certificate or other document, and accounting terms partly defined in this Terms Document or in any such certificate or other document to the extent not defined, shall have the respective meanings given to them
under GAAP. To the extent that the definitions of accounting terms in this Terms Document or in any such certificate or other document are inconsistent with the meanings of such terms under GAAP, the definitions contained in this Terms Document or
in any such certificate or other document shall control; 
 (4) the words “hereof,” “herein,” “hereunder” and
words of similar import when used in this Terms Document shall refer to this Terms Document as a whole and not to any particular provision of this Terms Document; references to any subsection, Section, clause, Schedule or Exhibit are references to
subsections, Sections, clauses, Schedules and Exhibits in or to this Terms Document unless otherwise specified; the term “including” means “including without limitation”; references to any law or regulation refer to that law or
regulation as amended from time to time and include any successor law or regulation; references to any Person include that Person’s successors and assigns; and references to any agreement refer to such agreement, as amended, supplemented or
otherwise modified from time to time; 

 (5) in the event that any term or provision contained herein shall conflict with or be inconsistent with
any term or provision contained in the Indenture Supplement, the Indenture or the Asset Pool Supplement, the terms and provisions of this Terms Document shall be controlling; and 
 (6) each capitalized term defined herein shall relate only to the Class A(2007-5) Notes and no other Tranche of CHASEseries Notes issued by the Issuing
Entity. 
 “Asset Pool Supplement” means the Amended and Restated Asset Pool One Supplement to the Indenture, dated as of
October 15, 2004, as amended by the First Amendment thereto, dated as of May 10, 2005, and the Second Amendment thereto, dated as of February 1, 2006, by and among the Issuing Entity, the Indenture Trustee and the Collateral Agent.

 “BDL” means Banque de Luxembourg. 
 “Beneficiary” means Chase Bank USA, National Association, in its capacity as beneficial owner of the Issuing Entity. 
 “Calculation Agent” is defined in Section 2.04(a). 
 “Class A(2007-5) Adverse
Event” means the occurrence of any of the following: (a) an Early Amortization Event with respect to the Class A(2007-5) Notes, (b) an Event of Default and acceleration of the Class A(2007-5) Notes, (c) the Class A Usage
of the Class B Required Subordinated Amount for the Class A(2007-5) Notes becomes greater than zero or (d) the Class A Usage of the Class C Required Subordinated Amount for the Class A(2007-5) Notes becomes greater than zero. 

“Class A(2007-5) Note” means any Note, substantially in the form set forth in Exhibit A-1 to the Indenture Supplement, designated
therein as a Class A(2007-5) Note and duly executed and authenticated in accordance with the Indenture. 
 “Class A(2007-5)
Noteholder” means a Person in whose name a Class A(2007-5) Note is registered in the Note Register. 
 “Class A(2007-5)
Termination Date” means the earliest to occur of (a) the Principal Payment Date on which the Outstanding Dollar Principal Amount of the Class A(2007-5) Notes is paid in full, (b) the Legal Maturity Date and (c) the date on
which the Indenture is discharged and satisfied pursuant to Article V thereof. 
 “Class A Required Subordinated Amount of Class B
Notes” is defined in Section 2.02(a). 
 “Class A Required Subordinated Amount of Class C Notes” is defined in
Section 2.02(b). 
  

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 “Controlled Accumulation Amount” means $20,833,333.34; provided, however,
if the Accumulation Period Length is determined to be less than twelve months pursuant to Section 3.12(b)(ii) of the Indenture Supplement, the Controlled Accumulation Amount for any Note Transfer Date with respect to the Class A(2007-5) Notes
will be the amount specified in the definition of “Controlled Accumulation Amount” in the Indenture Supplement. 
 “Indenture” means the Second Amended and Restated Indenture, dated as of March 14, 2006, between the Issuing Entity and the Indenture Trustee. 
 “Indenture Supplement” means the Amended and Restated CHASEseries Indenture Supplement, dated as of October 15, 2004, among the
Issuing Entity, the Indenture Trustee and the Collateral Agent. 
 “Initial Dollar Principal Amount” means $250,000,000.

 “Interest Payment Date” means May 15, 2007 and the 15th day of each month thereafter, or if such 15th day is not a
Business Day, the next succeeding Business Day. 
 “Interest Period” means, with respect to any Interest Payment Date, the
period from and including the previous Interest Payment Date (or in the case of the initial Interest Payment Date, from and including the Issuance Date) to but excluding such Interest Payment Date. 
 “Issuance Date” means April 11, 2007. 
 “Legal Maturity Date” means March 15, 2019. 
 “LIBOR” means, for any
Interest Period, the London interbank offered rate for one-month United States dollar deposits determined by the Calculation Agent on the LIBOR Determination Date for each Interest Period in accordance with the provisions of Section 2.04.

 “LIBOR Determination Date” means (1) April 9, 2007 for the period from and including the Issuance Date through
but excluding May 15, 2007 and (2) for each interest period thereafter, the second London Business Day prior to the commencement of the second and each subsequent Interest Period. 
 “London Business Day” means any Business Day on which dealings in deposits in United States Dollars are transacted in the London
interbank market. 
 “Note Interest Rate” means a rate per annum equal to 0.04% in excess of LIBOR, as determined by the
Calculation Agent on the related LIBOR Determination Date with respect to each Interest Period. 
 “Paying Agent” means
Wells Fargo Bank, National Association. 
  

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 “Predecessor Note” means, with respect to any particular Note, every previous Note
evidencing all or a portion of the same debt as that evidenced by such particular Note; and, for the purpose of this definition, any Note authenticated and delivered under Section 3.06 of the Indenture in lieu of a mutilated, lost, destroyed or
stolen Note shall be deemed to evidence the same debt as the mutilated, lost, destroyed or stolen Note. 
 “Record Date”
means, for any Note Transfer Date, the last Business Day of the preceding Monthly Period. 
 “Reference Banks” means four
major banks in the London interbank market selected by the Beneficiary. 
 “Reuters Screen LIBO Page” means the display page
so designated on the Reuters Monitor Money Rates (or such other page as may replace that page on that service, or such other service as may be nominated as the information vendor, for the purposes of displaying rates comparable to LIBOR).

 “Scheduled Principal Payment Date” means March 15, 2017. 
 “Stated Principal Amount” means $250,000,000. 
 Section 1.02 Governing Law THIS TERMS DOCUMENT WILL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF DELAWARE WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS AND THE
OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 Section 1.03
Counterparts This Terms Document may be executed in any number of counterparts, each of which so executed will be deemed to be an original, but all such counterparts will together constitute but one and the same instrument. 
 Section 1.04 Ratification of Indenture and Indenture Supplement As supplemented by this Terms Document, each of the Indenture, the Asset Pool
Supplement and the Indenture Supplement is in all respects ratified and confirmed and the Indenture as so supplemented by the Asset Pool Supplement and the Indenture Supplement as so supplemented by this Terms Document shall be read, taken and
construed as one and the same instrument. 
 [END OF ARTICLE I] 
  

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 ARTICLE II 
 The Class A(2007-5) Notes 
 Section 2.01 Creation and Designation There is hereby created a
Tranche of CHASEseries Class A Notes to be issued pursuant to the Indenture and the Indenture Supplement to be known as the “CHASEseries Class A(2007-5) Notes.” 
 Section 2.02 Specification of Required Subordinated Amount and Other Terms 
 (a) For the Class A(2007-5) Notes for any date of determination, the Class A Required Subordinated Amount of Class B Notes will be an amount equal
to 6.49718% of (i) prior to the occurrence of a Class A(2007-5) Adverse Event, the Adjusted Outstanding Dollar Principal Amount of the Class A(2007-5) Notes on such date of determination or (ii) on and after the date on which a Class
A(2007-5) Adverse Event shall have occurred, the greater of (1) the Adjusted Outstanding Dollar Principal Amount of the Class A(2007-5) Notes on such date of determination and (2) the Adjusted Outstanding Dollar Principal Amount of the
Class A(2007-5) Notes as of the close of business on the day immediately preceding the date on which such Class A(2007-5) Adverse Event shall have occurred. 
 (b) For the Class A(2007-5) Notes for any date of determination, the Class A Required Subordinated Amount of Class C Notes will be an amount equal to 6.49718% of (i) prior to the occurrence of a Class
A(2007-5) Adverse Event, the Adjusted Outstanding Dollar Principal Amount of the Class A(2007-5) Notes on such date or (ii) on and after the date on which a Class A(2007-5) Adverse Event shall have occurred, the greater of (1) the Adjusted
Outstanding Dollar Principal Amount of the Class A(2007-5) Notes on such date of determination and (2) Adjusted Outstanding Dollar Principal Amount of the Class A(2007-5) Notes as of the close of business on the day immediately preceding the
date on which such Class A(2007-5) Adverse Event shall have occurred. 
 (c) The Issuing Entity may change the percentages or the formulas
set forth in either clause (a) or (b) above without the consent of any Noteholder so long as the Issuing Entity has (i) received written confirmation from each Note Rating Agency that has rated any Outstanding Notes that the change in
either of such percentages or formulas, as applicable, will not result in a Ratings Effect with respect to any Outstanding Notes and (ii) delivered to the Indenture Trustee and the Note Rating Agencies a Master Trust Tax Opinion and an Issuing
Entity Tax Opinion. 
  

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 Section 2.03 Interest Payment 
 (a) For each Interest Payment Date, the amount of interest due with respect to the Class A(2007-5) Notes shall be an amount equal to the product of
(i) (A) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, times, (B) the Note Interest Rate in effect with respect to the related Interest
Period, times, (ii) the Outstanding Dollar Principal Amount of the Class A(2007-5) Notes determined as of the close of business on the Interest Payment Date preceding the related Note Transfer Date for the Class A(2007-5) Notes;
provided, however, that for the first Interest Payment Date, the amount of interest due with respect to the Class A(2007-5) Notes shall be an amount equal to the product of (x) the Outstanding Dollar Principal Amount of the Class
A(2007-5) Notes on the Issuance Date, (y) 34 divided by 360 and (z) the Note Interest Rate in effect with respect to the Class A(2007-5) Notes determined on April 9, 2007. Interest on the Class A(2007-5) Notes will be calculated on
the basis of the actual number of days elapsed and a 360-day year. 
 (b) Pursuant to Section 3.03 of the Indenture Supplement, on each
Note Transfer Date with respect to the Class A(2007-5) Notes, the Indenture Trustee shall deposit into the Class A(2007-5) Interest Funding Sub-Account the portion of CHASEseries Available Finance Charge Collections allocable to the Class A(2007-5)
Notes. 
 Section 2.04 Calculation Agent; Determination of LIBOR 
 (a) The Issuing Entity hereby agrees that for so long as any Class A(2007-5) Notes are Outstanding, there shall at all times be an agent appointed to
calculate LIBOR for each Interest Period (the “Calculation Agent”). The Issuing Entity hereby initially appoints the Indenture Trustee as the Calculation Agent for purposes of determining LIBOR for each Interest Period. The Calculation
Agent may be removed by the Issuing Entity at any time. If the Calculation Agent is unable or unwilling to act as such or is removed by the Issuing Entity, or if the Calculation Agent fails to determine LIBOR for an Interest Period, the Issuing
Entity shall promptly appoint a replacement Calculation Agent that does not control or is not controlled by or under common control with the Issuing Entity or its Affiliates. The Calculation Agent may not resign its duties, and the Issuing Entity
may not remove the Calculation Agent, without a successor having been duly appointed. 
 (b) On each LIBOR Determination Date, the
Calculation Agent shall determine LIBOR on the basis of the rate for deposits in United States dollars for a one-month period which appears on Reuters Screen LIBO Page or on such comparable system as is customarily used to quote LIBOR as of 11:00
a.m., London time, on such date. If such rate does not appear on Reuters Screen LIBO Page or on a comparable system as is customarily used to quote LIBOR the rate for that LIBOR Determination Date shall be determined on the basis of the rates at
which deposits in United States 

  

 6 

 
dollars are offered by the Reference Banks at approximately 11:00 a.m., London time, on that day to prime banks in the London interbank market for a
one-month period. The Calculation Agent shall request the principal London office of each of the Reference Banks to provide a quotation of its rate. If at least two such quotations are provided, the rate for that LIBOR Determination Date shall be
the arithmetic mean of the quotations. If fewer than two quotations are provided as requested, the rate for that LIBOR Determination Date will be the arithmetic mean of the rates quoted by major banks in New York City, selected by the Beneficiary,
at approximately 11:00 a.m., New York City time, on that day for loans in United States dollars to leading European banks for a one-month period. 
 (c) The Note Interest Rate applicable to the then current and the immediately preceding Interest Periods may be obtained by telephoning the Indenture Trustee at its corporate trust office at (612) 667-8058 or such other telephone
number as shall be designated by the Indenture Trustee for such purpose by prior written notice by the Indenture Trustee to each Noteholder from time to time. 
 (d) On each LIBOR Determination Date, the Calculation Agent shall send to the Indenture Trustee and the Beneficiary, by facsimile transmission, notification of LIBOR for the following Interest Period. 
 Section 2.05 Payments of Interest and Principal 
 (a) Any installment of interest or principal payable on any Class A(2007-5) Note which is punctually paid or duly provided for by the Issuing Entity and the Indenture Trustee on the applicable Interest Payment Date or
Principal Payment Date shall be paid by the Paying Agent to the Person in whose name such Class A(2007-5) Note (or one or more Predecessor Notes) is registered on the Record Date, by wire transfer of immediately available funds to such Person’s
account as has been designated by written instructions received by the Paying Agent from such Person not later than the close of business on the third Business Day preceding the date of payment or, if no such account has been so designated, by check
mailed first-class, postage prepaid to such Person’s address as it appears on the Note Register on such Record Date, except that with respect to Notes registered on the Record Date in the name of the nominee of Cede & Co., payment
shall be made by wire transfer in immediately available funds to the account designated by such nominee. 
 (b) The right of the Class
A(2007-5) Noteholders to receive payments from the Issuing Entity will terminate on the first Business Day following the Class A(2007-5) Termination Date. 
 Section 2.06 Form of Delivery of Class A(2007-5) Notes; Depository; Denominations. 
 (a) The
Class A(2007-5) Notes shall be delivered in the form of a global Registered Note as provided in Sections 2.02 and 3.01(i) of the Indenture, respectively. 
  

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 (b) The Depository for the Class A(2007-5) Notes shall be The Depository Trust Company, and the Class
A(2007-5) Notes shall initially be registered in the name of Cede & Co., its nominee. 
 (c) The Class A(2007-5) Notes will be
issued in minimum denominations of $100,000 and integral multiples of $1,000 in excess of $100,000. 
 Section 2.07 Delivery and
Payment for the Class A(2007-5) Notes The Issuing Entity shall execute and deliver the Class A(2007-5) Notes to the Indenture Trustee for authentication, and the Indenture Trustee shall deliver the Class A(2007-5) Notes when authenticated, each
in accordance with Section 3.03 of the Indenture. 
 Section 2.08 Supplemental Indenture The Issuing Entity may enter into a
supplemental indenture with respect to the Class A(2007-5) Notes as provided in Section 9.01 of the Indenture; provided, however, that any supplemental indenture which provides for an additional or alternative form of credit
enhancement for the Class A(2007-5) Notes shall, in addition to the requirements set forth in Section 9.01 of the Indenture, require confirmation from the Note Rating Agencies that have rated any Outstanding Notes of the CHASEseries that such
change in credit enhancement will not result in a Ratings Effect with respect to any Outstanding Notes of the CHASEseries. 
 [END OF ARTICLE
II] 
  

 8 

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

			
	CHASE ISSUANCE TRUST
		
	By:	 	CHASE BANK USA, NATIONAL ASSOCIATION, as Beneficiary and not in its individual capacity
		
	By:	 	 /s/ Keith W. Schuck

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

		
	By:	 	 /s/ Cheryl C. Zimmerman

	Name:	 	Cheryl C. Zimmerman, CCTS
	Title:	 	Assistant Vice President

 Chase Issuance Trust 
 CHASEseries Class A(2007-5) Terms Document 
 Signature Page

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