Document:

Series 2010-A Indenture Supplement

 Exhibit 4.1 

 
 WORLD FINANCIAL NETWORK CREDIT CARD MASTER NOTE TRUST

 Issuer 

and 

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. 

Indenture Trustee 

Series 2010-A INDENTURE SUPPLEMENT 

Dated as of July 8, 2010 

 TABLE OF CONTENTS 

 

							
	 	 	 	 	 	  	Page
	 ARTICLE I.
	 	 CREATION OF THE SERIES 2010-A NOTES
	  	1
				
		 	 Section 1.1
	 	 Designation
	  	1
			
	 ARTICLE II.
	 	 DEFINITIONS
	  	2
				
		 	 Section 2.1
	 	 Definitions
	  	2
			
	 ARTICLE III.
	 	 NOTEHOLDER SERVICING FEE
	  	17
				
		 	 Section 3.1
	 	 Servicing Compensation
	  	17
				
		 	 Section 3.2
	 	 Covenants
	  	17
			
	 ARTICLE IV.
	 	RIGHTS OF SERIES 2010-A NOTEHOLDERS AND ALLOCATION AND APPLICATION OF COLLECTIONS	  	18
				
		 	 Section 4.1
	 	 Collections and Allocations
	  	18
				
		 	 Section 4.2
	 	 Determination of Monthly Interest
	  	20
				
		 	 Section 4.3
	 	 Determination of Monthly Principal
	  	22
				
		 	 Section 4.4
	 	 Application of Available Finance Charge Collections and Available Principal Collections
	  	23
				
		 	 Section 4.5
	 	 Investor Charge-Offs
	  	26
				
		 	 Section 4.6
	 	 Reallocated Principal Collections
	  	26
				
		 	 Section 4.7
	 	 Excess Finance Charge Collections
	  	26
				
		 	 Section 4.8
	 	 Shared Principal Collections
	  	26
				
		 	 Section 4.9
	 	 Certain Series Accounts
	  	27
				
		 	 Section 4.10
	 	 Reserve Account
	  	28
				
		 	 Section 4.11
	 	 Cash Collateral Account
	  	29
				
		 	 Section 4.12
	 	 Spread Account
	  	31
				
		 	 Section 4.13
	 	 Investment Instructions
	  	33
				
		 	 Section 4.14
	 	 Controlled Accumulation Period
	  	33
				
		 	 Section 4.15
	 	 Suspension of Controlled Accumulation Period
	  	34
				
		 	 Section 4.16
	 	 Pre-Funding Account
	  	35
				
		 	 Section 4.17
	 	 Pre-Funding Period Reserve Account
	  	37
			
	 ARTICLE V.
	 	DELIVERY OF SERIES 2010-A NOTES; DISTRIBUTIONS; REPORTS TO SERIES 2010-A NOTEHOLDERS	  	37
				
		 	 Section 5.1
	 	 Delivery and Payment for the Series 2010-A Notes
	  	37
				
		 	 Section 5.2
	 	 Distributions
	  	38
				
		 	 Section 5.3
	 	 Reports and Statements to Series 2010-A Noteholders
	  	38

  

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 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	 	 	  	Page
			
	 ARTICLE VI.
	 	 SERIES 2010-A EARLY AMORTIZATION EVENTS
	  	39
				
		 	 Section 6.1
	 	 Series 2010-A Early Amortization Events
	  	39
			
	 ARTICLE VII.
	 	 REDEMPTION OF SERIES 2010-A NOTES; FINAL DISTRIBUTIONS; SERIES TERMINATION
	  	41
				
		 	 Section 7.1
	 	 Optional Redemption of Series 2010-A Notes; Final Distributions
	  	41
				
		 	 Section 7.2
	 	 Series Termination
	  	42
			
	 ARTICLE VIII.
	 	 MISCELLANEOUS PROVISIONS
	  	43
				
		 	 Section 8.1
	 	 Ratification of Indenture; Amendments
	  	43
				
		 	 Section 8.2
	 	 Form of Delivery of the Series 2010-A Notes
	  	43
				
		 	 Section 8.3
	 	 Counterparts
	  	43
				
		 	 Section 8.4
	 	 GOVERNING LAW
	  	43
				
		 	 Section 8.5
	 	 Limitation of Liability
	  	43
				
		 	 Section 8.6
	 	 Rights of the Indenture Trustee
	  	44
				
		 	 Section 8.7
	 	 Additional Provisions
	  	44
				
		 	 Section 8.8
	 	 Additional Requirements for Registration of and Limitations on Transfer and Exchange of Notes
	  	44

  

 ii 

			
	EXHIBITS	 	
		
	EXHIBIT A-1	 	FORM OF CLASS A NOTE
	EXHIBIT A-2	 	FORM OF CLASS M NOTE
	EXHIBIT A-3	 	FORM OF CLASS B NOTE
	EXHIBIT A-4-A	 	FORM OF DEFINITIVE CLASS C NOTE
	EXHIBIT A-4-B	 	FORM OF GLOBAL CLASS C NOTE
	EXHIBIT B	 	FORM OF MONTHLY PAYMENT INSTRUCTIONS AND NOTIFICATION TO INDENTURE TRUSTEE
	EXHIBIT C	 	FORM OF MONTHLY NOTEHOLDERS’ STATEMENT
	EXHIBIT D	 	FORM OF PRE-FUNDING RELEASE NOTICE
		
	SCHEDULE I	 	PERFECTION COVENANTS

  

 iii 

 SERIES 2010-A INDENTURE SUPPLEMENT, dated as of July 8, 2010 (the “Indenture
Supplement”), between WORLD FINANCIAL NETWORK CREDIT CARD MASTER NOTE TRUST, a statutory trust organized and existing under the laws of the State of Delaware (herein, the “Issuer” or the “Trust”), and THE
BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a national banking association, not in its individual capacity, but solely as indenture trustee (herein, together with its successors in the trusts thereunder as provided in the Master Indenture referred
to below, the “Indenture Trustee”) under the Master Indenture, dated as of August 1, 2001, between the Issuer and the Indenture Trustee, as amended by Omnibus Amendment, dated as of March 31, 2003, among WFN Credit
Company, LLC (the “Transferor”), the Issuer, World Financial Network National Bank, individually and as Servicer, World Financial Network Credit Card Master Trust, The Bank of New York Mellon Trust Company, N.A. (formerly known as
The Bank of New York Trust Company, N.A. and successor to BNY Midwest Trust Company), as trustee of World Financial Network Credit Card Master Trust and as Indenture Trustee, and as further amended by Supplemental Indenture No. 1 to Master
Indenture, dated as of August 13, 2003, Supplemental Indenture No. 2 to Master Indenture, dated as of June 13, 2007, Supplemental Indenture No. 3 to Master Indenture, dated as of May 27, 2008, and Supplemental Indenture
No. 4 to Master Indenture, dated as of June 28, 2010, each between the Issuer and the Indenture Trustee (as amended, the “Indenture”, and together with this Indenture Supplement, the “Agreement”).

 Pursuant to Section 2.11 of the Indenture, the Transferor may direct the Owner Trustee, on behalf of the Issuer,
to issue one or more Series of Notes. The Principal Terms of this Series are set forth in this Indenture Supplement to the Indenture. 

ARTICLE I. 

Creation of the Series 2010-A Notes 

Section 1.1 Designation. 

(a) There is hereby created and designated a Series of Notes to be issued pursuant to the Indenture and this Indenture Supplement to be
known as “World Financial Network Credit Card Master Note Trust, Series 2010-A” or the “Series 2010-A Notes.” The Series 2010-A Notes shall be issued in four Classes, known as the “Class A Series 2010-A
3.96% Asset Backed Notes” (or the “Class A Fixed Rate Asset Backed Notes, Series 2010-A”), the “Class M Series 2010-A 5.20% Asset Backed Notes” (or the “Class M Fixed Rate Asset Backed Notes, Series
2010-A”), the “Class B Series 2010-A 6.75% Asset Backed Notes” (or the “Class B Fixed Rate Asset Backed Notes, Series 2010-A”) and the “Class C Series 2010-A 5.00% Asset Backed Notes” (or
the “Class C Fixed Rate Asset Backed Notes, Series 2010-A”). 
 (b) Series 2010-A shall be included in Group
One and shall be a Principal Sharing Series. Series 2010-A shall be an Excess Allocation Series with respect to Group One only. 

 ARTICLE II. 

Definitions 

Section 2.1 Definitions. 

(a) Whenever used in this Indenture Supplement, the following words and phrases shall have the following meanings, and the definitions of
such terms are applicable to the singular as well as the plural forms of such terms and the masculine as well as the feminine and neuter genders of such terms. 

“Accumulation Shortfall” means (a) for the first Distribution Date during the Controlled Accumulation Period, zero;
and (b) thereafter, for any Distribution Date during the Controlled Accumulation Period, the excess, if any, of the Controlled Deposit Amount for the previous Distribution Date over the amount deposited into the Principal Accumulation Account
pursuant to subsection 4.4(c)(i) for the previous Distribution Date. 
 “Additional Interest” means, for any
Distribution Date, Class A Additional Interest, Class M Additional Interest, Class B Additional Interest and Class C Additional Interest for such Distribution Date. 

“Additional Minimum Transferor Amount” means (a) as of any date of determination falling in November, December and
January of each calendar year, the product of (i) 2% and (ii) the sum of (A) the Aggregate Principal Receivables and (B) if such date of determination occurs prior to the Certificate Trust Termination Date, the amount on deposit
in the Excess Funding Account and (b) as of any date of determination falling in any other month, zero; provided that the amount specified in clause (a) shall be without duplication of the amount specified as the
“Additional Minimum Transferor Amount” in any future supplement to the Pooling and Servicing Agreement that specifies such an amount and indicates that such amount is without duplication of the amount specified in clause (a)) and in
the Indenture Supplement relating to the Series 2004-C Notes, Series 2006-A Notes, Series 2008-A Notes, Series 2009-A Notes, Series 2009-B Notes, Series 2009-C Notes, Series 2009-D Notes or Series 2009-VFN Notes (or in any future Indenture
Supplement that specifies such an amount and indicates that such amount is without duplication of the amount specified in clause (a)). The Additional Minimum Transferor Amount is specified pursuant to Section 8.7 as an additional
amount to be considered part of the Minimum Transferor Amount. 
 “Adjusted Initial Collateral Amount” means,
as of any date of determination, the Initial Collateral Amount, plus (ii) the aggregate amount of funds released from the Pre-Funding Account pursuant to Section 4.16(d) on or prior to such date of determination. 

“Aggregate Investor Default Amount” means, as to any Monthly Period, the sum of the Investor Default Amounts in respect
of such Monthly Period. 
 “Allocation Percentage” means, with respect to any Monthly Period, the percentage
equivalent of a fraction: 
 (a) the numerator of which shall be equal to: 

 

 2 

 (i) (x) for Principal Collections for any Monthly Period (or portion
thereof) during the Revolving Period beginning with the date on which the Series 2008-A Allocation Percentage is reduced to zero and (y) for Finance Charge Collections and Default Amounts at any time, the Collateral Amount at the end of the
last day of the prior Monthly Period (or, in the case of the Monthly Period in which the Closing Date occurs, on the Closing Date), less any reductions to be made to the Collateral Amount on account of principal payments or deposits to the
Principal Accumulation Account to be made on the Distribution Date falling in the Monthly Period for which the Allocation Percentage is being calculated; 

(ii) for Principal Collections during the Early Amortization Period and the Controlled Accumulation Period beginning with
the date on which the Series 2008-A Allocation Percentage is reduced to zero, the Collateral Amount at the end of the last day of the Revolving Period, less, if sufficient funds have been deposited to a Trust Account to pay the outstanding principal
amount of the 2010-A Notes in full on the Distribution Date falling in the Monthly Period for which the Allocation Percentage is being calculated, the aggregate amount of principal payments to be made on such final Distribution Date; or 

(iii) for Principal Collections for any Monthly Period (or portion thereof) prior to the date on which the Series 2008-A
Allocation Percentage is reduced to zero, the sum of (A) $238,607,492, plus (B) for any Monthly Period (or portion thereof) after the date on which the Series 2009-C Allocation Percentage is reduced to zero, the Series 2009-C Initial
Collateral Amount; 
 provided, however, that the Transferor may, by written notice to the Indenture Trustee, the
Servicer and the Rating Agencies, reduce the numerator used for purposes of allocating Principal Collections to Series 2010-A at any time if (x) the Rating Agency Condition shall have been satisfied with respect to such reduction and
(y) the Transferor shall have delivered to the Indenture Trustee an Officer’s Certificate to the effect, based on the facts known to such officer at that time, in the reasonable belief of the Transferor, such designation will not cause an
Early Amortization Event or an event that, after the giving of notice or the lapse of time, would cause an Early Amortization Event to occur with respect to Series 2010-A; and 

(b) the denominator of which shall be the greater of (x) the Aggregate Principal Receivables determined as of the
close of business on the last day of the prior Monthly Period and (y) the sum of the numerators used to calculate the allocation percentages for allocations with respect to Finance Charge Collections, Principal Collections or Default Amounts,
as applicable, for all outstanding Series and all outstanding Series under (and as defined in) the Pooling and Servicing Agreement (other than any Series represented by the Collateral Certificate) on such date of determination;
provided, that if one or more Reset Dates occur in a Monthly Period, the Allocation Percentage for the portion of the Monthly Period falling on and after such Reset Date and prior to any subsequent Reset Date will be recalculated for
such period as of the close of business on the subject Reset Date. 
  

 3 

 “Available Cash Collateral Amount” means with respect to any Transfer Date,
an amount equal to the lesser of (a) the amount on deposit in the Cash Collateral Account (before giving effect to any deposit to, or withdrawal from, the Cash Collateral Account made or to be made with respect to such date) and (b) the
Required Cash Collateral Amount for such Transfer Date. 
 “Available Finance Charge Collections” means, for
any Monthly Period, an amount equal to the sum of (a) the Investor Finance Charge Collections for such Monthly Period, plus (b) the Excess Finance Charge Collections allocated to Series 2010-A for such Monthly Period, plus
(c) Principal Accumulation Investment Proceeds, if any, with respect to the related Transfer Date, plus (d) interest and earnings on funds on deposit in the Reserve Account, Cash Collateral Account, the Pre-Funding Account and
Spread Account which will be deposited into the Finance Charge Account on the related Transfer Date to be treated as Available Finance Charge Collections pursuant to Sections 4.10(b), 4.11(b), 4.12(b) and 4.16(c),
respectively, plus (e) amounts, if any, to be withdrawn from the Reserve Account or the Pre-Funding Period Reserve Account which will be deposited into the Finance Charge Account on the related Transfer Date to be treated as Available
Finance Charge Collections pursuant to Section 4.10(d) or Section 4.17(d), respectively. 

“Available Pre-Funding Period Reserve Amount” means, on any date, the amount on deposit in the Pre-Funding Period
Reserve Account (including any interest and investment earnings). 
 “Available Principal Collections” means,
for any Monthly Period, an amount equal to the sum of (a) the Investor Principal Collections for such Monthly Period, minus (b) the amount of Reallocated Principal Collections with respect to such Monthly Period which pursuant to
Section 4.6 are required to be applied on the related Transfer Date, plus (c) any Shared Principal Collections with respect to other Principal Sharing Series (including any amounts on deposit in the Excess Funding Account
that are allocated to Series 2010-A for application as Shared Principal Collections), plus (d) the aggregate amount to be treated as Available Principal Collections pursuant to subsections 4.4(a)(vi) and (vii) for the
related Distribution Date. 
 “Available Reserve Account Amount” means, for any Transfer Date, the lesser of
(a) the amount on deposit in the Reserve Account (after taking into account any interest and earnings retained in the Reserve Account pursuant to Section 4.10(b) on such date, but before giving effect to any deposit made or to be
made pursuant to subsection 4.4(a)(x) to the Reserve Account on such date) and (b) the Required Reserve Account Amount. 

“Available Spread Account Amount” means, for any Transfer Date, an amount equal to the lesser of (a) the amount on
deposit in the Spread Account (before giving effect to any deposit to, or withdrawal from, the Spread Account made or to be made with respect to such date) and (b) the Required Spread Account Amount, in each case on such Transfer Date.

 “Base Rate” means, (a) for any Monthly Period during the Pre-Funding Period, the Trust Base Rate and
(b) for any other Monthly Period, the annualized percentage (based on a 360-day year of twelve 30-day months) equivalent of a fraction, the numerator of which is equal to the sum of (x) the Monthly Interest and (y) the Noteholder
Servicing Fee, each with respect to the related Distribution Date, and the denominator of which is the Collateral Amount plus amounts 

 

 4 

 
on deposit in the Principal Accumulation Account, each as of the close of business on the last day of such Monthly Period. 

“Cash Collateral Account” is defined in Section 4.11(a). 

“Class A Additional Interest” is defined in Section 4.2(a). 

“Class A Deficiency Amount” is defined in Section 4.2(a). 

“Class A Monthly Interest” is defined in Section 4.2(a). 

“Class A Note Initial Principal Balance” means $355,500,000. 

“Class A Note Interest Rate” means a per annum rate of 3.96%. 

“Class A Note Principal Balance” means, on any date of determination, an amount equal to (a) the Class A Note
Initial Principal Balance, minus (b) the aggregate amount of principal payments made to the Class A Noteholders on or prior to such date. 

“Class A Noteholder” means the Person in whose name a Class A Note is registered in the Note Register. 

“Class A Notes” means any one of the Notes executed by the Owner Trustee, on behalf of the Issuer, and authenticated by
or on behalf of the Indenture Trustee, substantially in the form of Exhibit A-1. 
 “Class A Required
Amount” means, for any Distribution Date, an amount equal to the excess of the amounts described in subsection 4.4(a)(i) over the sum of (a) Available Finance Charge Collections applied to pay such amount pursuant to
Section 4.4(a) and (b) any amount withdrawn from the Cash Collateral Account and applied to pay such amount pursuant to Section 4.11(c). 

“Class B Additional Interest” is defined in Section 4.2(c). 

“Class B Deficiency Amount” is defined in Section 4.2(c). 

“Class B Monthly Interest” is defined in Section 4.2(c). 

“Class B Note Initial Principal Balance” means $21,375,000. 

“Class B Note Interest Rate” means a per annum rate of 6.75%. 

“Class B Note Principal Balance” means, on any date of determination, an amount equal to (a) the Class B Note
Initial Principal Balance, minus (b) the aggregate amount of principal payments made to the Class B Noteholders on or prior to such date. 

“Class B Noteholder” means the Person in whose name a Class B Note is registered in the Note Register. 

 

 5 

 “Class B Notes” means any one of the Notes executed by the Owner Trustee,
on behalf of the Issuer, and authenticated by or on behalf of the Indenture Trustee, substantially in the form of Exhibit A-3. 

“Class B Required Amount” means, for any Distribution Date, an amount equal to the excess of the amount described in
subsection 4.4(a)(iii) over the sum of (a) Available Finance Charge Collections applied to pay such amount pursuant to Section 4.4(a) and (b) any amount withdrawn from the Cash Collateral Account and applied to pay such
amount pursuant to Section 4.11(c). 
 “Class C Additional Interest” is defined in
Section 4.2(d). 
 “Class C Deficiency Amount” is defined in Section 4.2(d).

 “Class C Monthly Interest” is defined in Section 4.2(d). 

“Class C Note Initial Principal Balance” means $56,250,000. 

“Class C Note Interest Rate” means a per annum rate of 5.00%. 

“Class C Note Principal Balance” means, on any date of determination, an amount equal to (a) the Class C Note
Initial Principal Balance, minus (b) the aggregate amount of principal payments made to the Class C Noteholders on or prior to such date. 

“Class C Noteholder” means the Person in whose name a Class C Note is registered in the Note Register. 

“Class C Notes” means any one of the Notes executed by the Owner Trustee, on behalf of the Issuer, and authenticated by
or on behalf of the Indenture Trustee, substantially in the form of Exhibit A-4-A or Exhibit A-4-B. 

“Class M Additional Interest” is defined in Section 4.2(b). 

“Class M Deficiency Amount” is defined in Section 4.2(b). 

“Class M Monthly Interest” is defined in Section 4.2(b). 

“Class M Note Initial Principal Balance” means $16,875,000. 

“Class M Note Interest Rate” means a per annum rate of 5.20%. 

“Class M Note Principal Balance” means, on any date of determination, an amount equal to (a) the Class M Note
Initial Principal Balance, minus (b) the aggregate amount of principal payments made to the Class M Noteholders on or prior to such date. 

“Class M Noteholder” means the Person in whose name a Class M Note is registered in the Note Register. 

 

 6 

 “Class M Notes” means any one of the Notes executed by the Owner Trustee,
on behalf of the Issuer, and authenticated by or on behalf of the Indenture Trustee, substantially in the form of Exhibit A-2. 

“Class M Required Amount” means, for any Distribution Date, an amount equal to the excess of the amount described in
subsection 4.4(a)(ii) over the sum of (a) Available Finance Charge Collections applied to pay such amount pursuant to Section 4.4(a) and (b) any amount withdrawn from the Cash Collateral Account and applied to pay such
amount pursuant to Section 4.11(c). 
 “Closing Date” means July 8, 2010. 

“Collateral Amount” means, as of any date of determination, an amount equal to the result of (a) $450,000,000,
minus (b) the Pre-Funded Amount on such date of determination (after giving effect to any withdrawal from the Pre-Funding Account on such date of determination), minus (c) the amount of principal previously paid to the Series
2010-A Noteholders (other than any principal payments made from funds on deposit in the Spread Account), minus (d) the balance on deposit in the Principal Accumulation Account, minus (e) the excess, if any, of the aggregate
amount of Investor Charge-Offs and Reallocated Principal Collections over the reimbursements of such amounts pursuant to subsection 4.4(a)(vii) prior to such date; provided, that, the Collateral Amount will not be less than
zero. 
 “Controlled Accumulation Amount” means, for any Transfer Date with respect to the Controlled
Accumulation Period, $37,500,000; provided, however, that if the Controlled Accumulation Period Length is determined to be less than 12 months pursuant to Section 4.14, the Controlled Accumulation Amount shall be equal to
(i) the Note Principal Balance divided by (ii) the Controlled Accumulation Period Length; provided, further, that the Controlled Accumulation Amount for any Distribution Date shall not exceed the Note Principal Balance
minus any amount already on deposit in the Principal Accumulation Account on such Transfer Date. 
 “Controlled
Accumulation Period” means, unless an Early Amortization Event shall have occurred prior thereto, the period commencing at the opening of business on June 1, 2014 or such later date as is determined in accordance with
Section 4.14, and ending on the first to occur of (a) the commencement of the Early Amortization Period and (b) the Series Termination Date. 

“Controlled Accumulation Period Length” is defined in Section 4.14. 

“Controlled Deposit Amount” means, for any Transfer Date with respect to the Controlled Accumulation Period, an amount
equal to the sum of the Controlled Accumulation Amount for such Transfer Date and any existing Accumulation Shortfall. 

“Covered Amount” means an amount, determined as of each Transfer Date for any Distribution Period, equal to the sum of
(a) the product of (i) the Class A Monthly Interest times (ii) a fraction, (A) the numerator of which is equal to the aggregate amount on deposit in the Principal Accumulation Account, up to the Class A Note
Principal Balance as of the Record Date preceding such Transfer Date, and (B) the denominator of which is equal to the Class A Note Principal Balance as of the Record Date preceding such Transfer Date, plus (b) the product of
(i)
  

 7 

 
the Class M Monthly Interest times (ii) a fraction (A) the numerator of which is equal to the aggregate amount on deposit in the Principal Accumulation Account in excess of the
Class A Note Principal Balance as of the Record Date preceding such Transfer Date, up to the Class M Note Principal Balance as of the Record Date preceding such Transfer Date, and (B) the denominator of which is equal to the Class M Note
Principal Balance as of the Record Date preceding such Transfer Date, plus (c) the product of (i) the Class B Monthly Interest times (ii) a fraction (A) the numerator of which is equal to the aggregate amount on
deposit in the Principal Accumulation Account in excess of the sum of the Class A Note Principal Balance and the Class M Note Principal Balance as of the Record Date preceding such Transfer Date, up to the Class B Note Principal Balance as of
the Record Date preceding such Transfer Date, and (B) the denominator of which is equal to the Class B Note Principal Balance as of the Record Date preceding such Transfer Date, plus (d) the product of (i) the Class C Monthly
Interest times (ii) a fraction (A) the numerator of which is equal to the aggregate amount on deposit in the Principal Accumulation Account in excess of the sum of the Class A Note Principal Balance, the Class M Note Principal
Balance and the Class B Note Principal Balance, in each case as of the Record Date preceding such Transfer Date, up to the Class C Note Principal Balance as of the Record Date preceding such Transfer Date, and (B) the denominator of which
is equal to the Class C Note Principal Balance as of the Record Date preceding such Transfer Date. 
 “Default
Amount” means, as to any Defaulted Account, the amount of Principal Receivables (other than Ineligible Receivables, unless there is an Insolvency Event with respect to WFN or the Transferor) in such Defaulted Account on the day it became a
Defaulted Account. 
 “Defaulted Account” means an Account in which there are Defaulted Receivables.

 “Dilution” means any downward adjustment made by Servicer in the amount of any Receivable (a) because
of a rebate, refund or billing error to an accountholder, (b) because such Receivable was created in respect of merchandise which was refused or returned by an accountholder or because such Receivable is an Excess Fraud Receivable or
(c) for any other reason other than receiving Collections therefor or charging off such amount as uncollectible. 

“Distribution Account” is defined in Section 4.9(a). 

“Distribution Date” means August 16, 2010 and the
15th day of each calendar month thereafter, or if such 15
th day is not a Business Day, the next succeeding Business
Day. 
 “Distribution Period” means, for any Distribution Date, the period from and including the Distribution
Date immediately preceding such Distribution Date (or, in the case of the first Distribution Date, from and including the Closing Date) to but excluding such Distribution Date. 

“Early Amortization Period” means the period commencing on the date on which a Trust Early Amortization Event or a
Series 2010-A Early Amortization Event is deemed to occur and ending on the Series Termination Date. 
 “Eligible
Investments” is defined in Annex A to the Indenture; provided that solely for purposes of Section 4.12(b), references within the definition of “Eligible Investments” to the “highest investment
category” of S&P shall mean A-2 and of Moody’s shall mean P-2. 
  

 8 

 “Excess Spread Percentage” means, for any Monthly Period, a percentage
equal to the Portfolio Yield for such Monthly Period, minus the Base Rate for such Monthly Period. 
 “Expected
Principal Payment Date” means the June 2015 Distribution Date. 
 “Finance Charge Account” is defined
in Section 4.9(a). 
 “Finance Charge Collections” means Collections of Finance Charge Receivables.

 “Finance Charge Shortfall” is defined in Section 4.7. 

“Group One” means Series 2004-C, Series 2006-A, Series 2008-A, Series 2009-A, Series 2009-B, Series 2009-C, Series
2009-D and Series 2009-VFN, the outstanding Series under (and as defined in) the Pooling and Servicing Agreement (other than Series represented by the Collateral Certificate) and each other Series hereafter specified in the related Indenture
Supplement to be included in Group One. 
 “Initial Collateral Amount” means $377,848,000. 

“Investment Earnings” means, for any Distribution Date, all interest and earnings on Eligible Investments included in
the Spread Account (net of losses and investment expenses) during the period commencing on and including the Distribution Date immediately preceding such Distribution Date and ending on but excluding such Distribution Date. 

“Investor Charge-Offs” is defined in Section 4.5. 

“Investor Default Amount” means, with respect to any Defaulted Account, an amount equal to the product of (a) the
Default Amount and (b) the Allocation Percentage on the day such Account became a Defaulted Account. 
 “Investor
Finance Charge Collections” means, for any Monthly Period, an amount equal to the aggregate amount of Finance Charge Collections (including Net Recoveries treated as Finance Charge Collections) retained or deposited in the Finance Charge
Account for Series 2010-A pursuant to subsection 4.1(b)(i) for such Monthly Period. 
 “Investor Principal
Collections” means, for any Monthly Period, an amount equal to the aggregate amount of Principal Collections retained or deposited in the Principal Account for Series 2010-A pursuant to subsection 4.1(b)(ii) for such Monthly Period.

 “Investor Uncovered Dilution Amount” means an amount equal to the product of (x) the Series Allocation
Percentage for the related Monthly Period (determined on a weighted average basis, if one or more Reset Dates occur during that Monthly Period), times (y) the aggregate Dilutions occurring during that Monthly Period as to which any
deposit is required to be made to the Excess Funding Account pursuant to Section 3.9(a) of the Transfer and Servicing Agreement or Section 3.9(a) of the Pooling and Servicing Agreement but has not been made; provided
that, if the Transferor Amount is greater than zero at the time the deposit referred to in clause (y) is required to be made, the Investor Uncovered Dilution Amount for such amount to be deposited shall be deemed to be zero. 

 

 9 

 “Minimum Transferor Amount” means (a) prior to the Certificate Trust
Termination Date, the “Minimum Transferor Amount” under (and as defined in) the Pooling and Servicing Agreement and (b) on and after the Certificate Trust Termination Date, the “Minimum Transferor Amount” as defined in Annex
A to the Indenture. 
 “Monthly Interest” means, for any Distribution Date, the sum of the Class A Monthly
Interest, the Class M Monthly Interest, the Class B Monthly Interest, and the Class C Monthly Interest for such Distribution Date. 

“Monthly Period” means the period from and including the first day of the calendar month preceding a related
Distribution Date to and including the last day of such calendar month; provided that the Monthly Period related to the August 2010 Distribution Date shall mean the period from and including the Closing Date to and including the last day of
July, 2010. 
 “Monthly Principal” is defined in Section 4.3. 

“Monthly Principal Reallocation Amount” means, for any Monthly Period, an amount equal to the sum of: 

(a) the lower of (i) the Class A Required Amount and (ii) the greater of (A)(x) the product of
(I) 21.0% and (II) the Adjusted Initial Collateral Amount minus (y) the amount of unreimbursed Investor Charge-Offs (after giving effect to Investor Charge-Offs for the related Monthly Period) and unreimbursed Reallocated Principal
Collections (as of the previous Distribution Date) and (B) zero; 
 (b) the lower of (i) the Class M
Required Amount and (ii) the greater of (A)(x) the product of (I) 17.25% and (II) the Adjusted Initial Collateral Amount minus (y) the amount of unreimbursed Investor Charge-Offs (after giving effect to Investor Charge-Offs for
the related Monthly Period) and unreimbursed Reallocated Principal Collections (as of the previous Distribution Date and as required in clause (a) above) and (B) zero; and; and 

(c) the lower of (i) the sum of the Class B Required Amount and the Servicing Fee Required Amount and (ii) the
greater of (A)(x) the product of (I) 12.5% and (II) the Adjusted Initial Collateral Amount minus (y) the amount of unreimbursed Investor Charge-Offs (after giving effect to Investor Charge-Offs for the related Monthly Period) and
unreimbursed Reallocated Principal Collections (as of the previous Distribution Date and as required in clauses (a) and (b) above) and (B) zero. 

“Note Principal Balance” means, on any date of determination, an amount equal to the sum of the Class A Note
Principal Balance, the Class M Note Principal Balance, the Class B Note Principal Balance and the Class C Note Principal Balance. 

“Noteholder Servicing Fee” is defined in Section 3.1. 

“Percentage Allocation” is defined in subsection 4.1(b)(ii)(y). 

 

 10 

 “Portfolio Yield” means, (a) for any Monthly Period during the
Pre-Funding Period, the Trust Portfolio Yield and (b) for any other Monthly Period, the annualized percentage (based on a 360-day year of twelve 30-day months) equivalent of a fraction, (i) the numerator of which is equal to (x) the
Available Finance Charge Collections (excluding any Excess Finance Charge Collections), minus (y) the Aggregate Investor Default Amount and the Investor Uncovered Dilution Amount for such Monthly Period and (ii) the denominator of
which is the Collateral Amount plus amounts on deposit in Principal Accumulation Account, each as of the close of business on the last day of such Monthly Period. 

“Pre-Funded Amount” shall mean the amount on deposit in the Pre-Funding Account from time to time, excluding any
investment income on funds on deposit therein. 
 “Pre-Funding Account” shall mean the account established and
maintained pursuant to Section 4.16(a). 
 “Pre-Funding Period” shall mean the period from and
including the Closing Date to and including the earliest of (x) the first day on which the Collateral Amount equals the aggregate outstanding principal amount of the Series 2010-A Notes, (y) the commencement of the Early Amortization
Period and (z) July 31, 2010. 
 “Pre-Funding Period Reserve Account” shall have the meaning set
forth in Section 4.17(a). 
 “Pre-Funding Release Notice” is defined in
Section 4.16(d). 
 “Principal Account” is defined in Section 4.9(a). 

“Principal Accumulation Account” is defined in Section 4.9(a). 

“Principal Accumulation Account Balance” means, for any date of determination, the principal amount, if any, on deposit
in the Principal Accumulation Account on such date of determination. 
 “Principal Accumulation Investment
Proceeds” means, with respect to each Transfer Date, the investment earnings on funds in the Principal Accumulation Account (net of investment expenses and losses) for the period from and including the immediately preceding Transfer Date to
but excluding such Transfer Date. 
 “Principal Collections” means Collections of Principal Receivables.

 “Principal Shortfall” is defined in Section 4.8. 

“Qualified Maturity Agreement” means an agreement whereby an Eligible Institution agrees to make a deposit into the
Principal Accumulation Account on the Expected Principal Payment Date in an amount equal to the initial Note Principal Balance. 

“Quarterly Excess Spread Percentage” means (a) with respect to the August 2010 Distribution Date, the Excess Spread
Percentage for such Distribution Date, (b) with respect to 
  

 11 

 
the September 2010 Distribution Date, the percentage equivalent of a fraction the numerator of which is the sum of (i) the Excess Spread Percentage for the August 2010 Distribution Date and
(ii) the Excess Spread Percentage with respect to the September 2010 Distribution Date and the denominator of which is two, (c) with respect to the October 2010 Distribution Date, the percentage equivalent of a fraction the numerator of
which is the sum of (i) the Excess Spread Percentage for the August 2010 Distribution Date (ii) the Excess Spread Percentage with respect to the September 2010 Distribution Date and (iii) the Excess Spread Percentage with respect to
the October 2010 Distribution Date and the denominator of which is three and (d) with respect to the November 2010 Distribution Date and each Distribution Date thereafter, the percentage equivalent of a fraction the numerator of which is the
sum of the Excess Spread Percentages determined with respect to such Distribution Date and the immediately preceding two Distribution Dates and the denominator of which is three. 

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

“Rating Agency Condition” means, notwithstanding anything to the contrary in the Indenture, with respect to Series
2010-A and any action subject to such condition, (i) S&P shall have notified the Issuer in writing that such action will not result in a reduction or withdrawal of their respective ratings of any outstanding Class of Series 2010-A Notes and
(ii) 10 days’ prior written notice (or, if 10 days’ advance notice is impracticable, as much advance notice as is practicable) to Fitch delivered electronically to notifications.abs@fitchratings.com. 

“Reallocated Principal Collections” means, for any Transfer Date, Investor Principal Collections applied in accordance
with Section 4.6 in an amount not to exceed the Monthly Principal Reallocation Amount for the related Monthly Period. 

“Reassignment Amount” means, for any Transfer Date, after giving effect to any deposits and distributions otherwise to
be made on the related Distribution Date, the sum of (i) the Note Principal Balance on the related Distribution Date, plus (ii) Monthly Interest for the related Distribution Date and any Monthly Interest previously due but not
distributed to the Series 2010-A Noteholders, plus (iii) the amount of Additional Interest, if any, for the related Distribution Date and any Additional Interest previously due but not distributed to the Series 2010-A Noteholders on a
prior Distribution Date. 
 “Required Cash Collateral Amount” means, for any Transfer Date or any day during
the Pre-Funding Period on which funds are released from the Pre-Funding Account, the greater of (a) an amount (rounded up to the nearest dollar) equal to 4.0% of the Collateral Amount (after taking into account deposits to the Principal
Accumulation Account on such Transfer Date and payments to be made on the related Distribution Date or, any release of funds from the Pre-Funding Account, as applicable), and (b) for any Transfer Date occurring on or after the commencement of
the Early Amortization Period, an amount equal to 4.0% of the Collateral Amount as of the close of business on the last day of the Revolving Period; provided that the Required Cash Collateral Amount will never exceed the Note Principal
Balance, minus the Principal Accumulation Account Balance (after taking into account deposits to the Principal Accumulation Account on such Transfer Date and payments to be made on the related Distribution Date); and provided,
further, that the Transferor may reduce the Required Cash 
  

 12 

 
Collateral Amount at any time if the Indenture Trustee has been provided evidence that the Rating Agency Condition has been satisfied. 

“Required Draw Amount” is defined in Section 4.11(c). 

“Required Principal Balance” means (a) prior to the Certificate Trust Termination Date, the “Required
Principal Balance” under (and as defined in) the Pooling and Servicing Agreement and (b) on and after the Certificate Trust Termination Date, the “Required Principal Balance” as defined in Annex A to the Indenture. 

“Required Reserve Account Amount” means, for any Transfer Date on or after the Reserve Account Funding Date, an amount
equal to (a) 0.50% of the Note Principal Balance or (b) any other amount designated by the Transferor; provided, however, that if such designation is of a lesser amount, the Transferor shall (i) provide the
Servicer and the Indenture Trustee with evidence that the Rating Agency Condition shall have been satisfied and (ii) deliver to the Indenture Trustee a certificate of an Authorized Officer to the effect that, based on the facts known to such
officer at such time, in the reasonable belief of the Transferor, such designation will not cause an Early Amortization Event or an event that, after the giving of notice or the lapse of time, would cause an Early Amortization Event to occur with
respect to Series 2010-A. 
 “Required Retained Transferor Percentage” means, for purposes of Series
2010-A, 4.0%. 
 “Required Spread Account Amount” means, for any Distribution Date, (a) the product of
(i) the Spread Account Percentage in effect on such date and (ii) during (x) the Revolving Period, the Collateral Amount, and (y) thereafter, the Collateral Amount as of the last day of the Revolving Period; provided that
after the occurrence of an Event of Default resulting in acceleration of the Series 2010-A Notes, the Required Spread Account Amount shall equal the Note Principal Balance (after taking into account any payments to be made on such Distribution
Date); and provided, further, that, except as described in the preceding proviso following the acceleration of the Series 2010-A Notes in no event will the Required Spread Account Amount exceed the Class C Note Principal Balance
(after taking into account any payments to be made on such Distribution Date). 
 “Reserve Account” is defined
in Section 4.10(a). 
 “Reserve Account Funding Date” means the Transfer Date designated by the
Servicer which occurs not later than the Transfer Date with respect to the Monthly Period which commences 3 months prior to the commencement of the Controlled Accumulation Period (which commencement shall be subject to postponement pursuant to
Section 4.14); provided, however, that subject to satisfaction of the Rating Agency Condition, the Reserve Account Funding Date may be any date selected by the Servicer. 

“Reserve Account Surplus” means, as of any Transfer Date following the Reserve Account Funding Date, the amount, if any,
by which the amount on deposit in the Reserve Account exceeds the Required Reserve Account Amount. 
 “Reserve Draw
Amount” means, with respect to each Transfer Date relating to the Controlled Accumulation Period or the first Transfer Date relating to the Early Amortization 

 

 13 

 
Period, the amount, if any, by which the Principal Accumulation Investment Proceeds for such Distribution Date are less than the Covered Amount determined as of such Transfer Date. 

“Reset Date” means: 

(a) each Addition Date and each “Addition Date” (as such term is defined in the Pooling and Servicing
Agreement), in each case relating to Supplemental Accounts; 
 (b) each Removal Date and each “Removal
Date” (as such term is defined in the Pooling and Servicing Agreement) on which, if any Series of Notes or any Series under (and as defined in) the Pooling and Servicing Agreement has been paid in full, Principal Receivables equal to the
Initial Collateral Amount for that Series are removed from the Receivables Trust; 
 (c) each date on which there
is an increase in the outstanding balance of any Variable Interest or “Variable Interest” (as such term is defined in the Pooling and Servicing Agreement); and 

(d) each date on which a new Series, Class or subclass of Notes is issued and each date on which a new “Series”
or “Class” (each as defined in the Pooling and Servicing Agreement) of investor certificates is issued by the Certificate Trust. 

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

“Series 2008-A Allocation Percentage” means, for any Monthly Period, the “Allocation Percentage” as such term
is defined in the Series 2008-A Indenture Supplement for purposes of allocating Principal Collections to Series 2008-A for such Monthly Period. 

“Series 2008-A Indenture Supplement” means the Series 2008-A Indenture Supplement to Master Indenture, dated as of
September 12, 2008, between the Issuer and the Indenture Trustee. 
 “Series 2009-C Allocation Percentage”
means, for any Monthly Period, the “Allocation Percentage” as such term is defined in the Series 2009-C Indenture Supplement for purposes of allocating Principal Collections to Series 2009-C for such Monthly Period. 

“Series 2009-C Indenture Supplement” means the Series 2009-C Indenture Supplement to Master Indenture, dated as of
August 13, 2009, between the Issuer and the Indenture Trustee. 
 “Series 2009-C Initial Collateral
Amount” means $139,240,508. 
 “Series 2010-A” means the Series of Notes the terms of which are
specified in this Indenture Supplement. 
 “Series 2010-A Early Amortization Event” is defined in
Section 6.1. 
  

 14 

 “Series 2010-A Final Maturity Date” means the April 2019 Distribution Date.

 “Series 2010-A Note” means a Class A Note, a Class M Note, a Class B Note or a Class C Note.

 “Series 2010-A Noteholder” means a Class A Noteholder, a Class M Noteholder, a Class B Noteholder or a
Class C Noteholder. 
 “Series Account” means, (a) with respect to Series 2010-A, the Finance Charge
Account, the Principal Account, the Principal Accumulation Account, the Distribution Account, the Pre-Funding Account, the Cash Collateral Account, the Reserve Account, the Spread Account and the Pre-Funding Period Reserve Account and (b) with
respect to any other Series, the “Series Accounts” for such Series as specified in the Indenture and the applicable Indenture Supplement for such Series. 

“Series Allocation Percentage” means, with respect to any Monthly Period, the percentage equivalent of a fraction, the
numerator of which is the Allocation Percentage for Finance Charge Collections for that Monthly Period and the denominator of which is the sum of the Allocation Percentages for Finance Charge Receivables for all outstanding Series on such date of
determination; provided that if one or more Reset Dates occur in a Monthly Period, the Series Allocation Percentage for the portion of the Monthly Period falling on and after each such Reset Date and prior to any subsequent Reset Date will be
determined using a denominator which is equal to the sum of the numerators used in determining the Allocation Percentage for Finance Charge Receivables for all outstanding Series as of the close of business on the subject Reset Date. 

“Series Servicing Fee Percentage” means 2% per annum. 

“Series Termination Date” means the earliest to occur of (a) the date on which the Note Principal Balance is paid
in full, (b) the date on which the Collateral Amount is reduced to zero and (c) the Series 2010-A Final Maturity Date. 

“Servicing Fee Required Amount” means, for any Distribution Date, an amount equal to the excess of the amount described
in subsection 4.4(a)(iv) over the sum of (a) the Available Finance Charge Collections applied to pay such amount pursuant to Section 4.4(a) and (b) any amount withdrawn from the Cash Collateral Account and applied to pay
such amount pursuant to Section 4.11(c). 
 “Specified Transferor Amount” means, at any time, the
Minimum Transferor Amount (including the Additional Minimum Transferor Amount, if any) at that time. 
 “Spread
Account” is defined in Section 4.12(a). 
 “Spread Account Deficiency” means the excess,
if any, of the Required Spread Account Amount over the Available Spread Account Amount. 
 “Spread Account
Percentage” means, for any Distribution Date, (i) 0.00% if the Quarterly Excess Spread Percentage on such Distribution Date is greater than or equal to 6.5%, 

 

 15 

 
(ii) 0.50% if the Quarterly Excess Spread Percentage on such Distribution Date is less than 6.5% and greater than or equal to 6.0%, (iii) 1.75% if the Quarterly Excess Spread Percentage on
such Distribution Date is less than 6.0% and greater than or equal to 5.5%, (iv) 2.25% if the Quarterly Excess Spread Percentage on such Distribution Date is less than 5.5% and greater than or equal to 5.0%, (v) 2.75% if the Quarterly
Excess Spread Percentage on such Distribution Date is less than 5.0% and greater than or equal to 4.5%, (vi) 3.25% if the Quarterly Excess Spread Percentage on such Distribution Date is less than 4.5% and greater than or equal to 4.0%,
(vii) 3.75% if the Quarterly Excess Spread Percentage on such Distribution Date is less than 4.0% and greater than or equal to 3.0%, (viii) 4.25% if the Quarterly Excess Spread Percentage on such Distribution Date is less than 3.0% and
greater than or equal to 2.5%, and (ix) 4.75% if the Quarterly Excess Spread Percentage on such Distribution Date is less than 2.5%; provided, that: 

(a) if the Spread Account Percentage for a Distribution Date is greater than 1.75%, then the Spread Account Percentage
shall not decrease to a lower percentage until the first subsequent Distribution Date on which the arithmetic mean of the Quarterly Excess Spread Percentages for such subsequent Distribution Date and for the two Distribution Dates immediately prior
to such subsequent Distribution Date is greater than or equal to the lowest Quarterly Excess Spread Percentage associated with a lower Spread Account Percentage; 

(b) if the Spread Account Percentage for a Distribution is equal to 1.75%, then the Spread Account Percentage shall not
decrease to a lower percentage until the first subsequent Distribution Date on which the arithmetic mean of the Quarterly Excess Spread Percentages for such subsequent Distribution Date and for the Distribution Date immediately prior to such
subsequent Distribution Date is greater than or equal to the lowest Quarterly Excess Spread Percentage associated with a lower Spread Account Percentage; 

(c) in no event will the Spread Account Percentage decrease by more than one of the levels specified above between any two
Distribution Dates;1 and 

(d) if an Early Amortization Event is deemed to occur with respect to Series 2010-A, the Spread Account Percentage shall
be 12.50%. 
 “Target Amount” is defined in subsection 4.1(b)(i). 

“Transfer” means any sale, transfer, assignment, exchange, participation, pledge, hypothecation, rehypothecation, or
other grant of a security interest in or disposition of, a Note. 
 “Transferor Amount” means (a) prior to
the Certificate Trust Termination Date, the “Transferor Amount” under (and as defined in) the Pooling and Servicing Agreement and (b) on and after the Certificate Trust Termination Date, the “Transferor Amount” as defined in
Annex A to the Indenture. 
  

	1
	For example, if the Spread Account Percentage on one Distribution Date were 2.25%, then the Spread Account Percentage for the next Distribution Date could not be less
than 1.75%, even if the Quarterly Excess Spread Percentage on such next Distribution Date were greater than or equal to 6.0%. 

  

 16 

 “Trust Base Rate” means, for any Monthly Period, the weighted average for
all outstanding Series of Notes issued by the Issuer, excluding Series 2010-A, of the “Base Rates” (as defined for each Series in the related Indenture Supplement), weighted in each case by the outstanding aggregate principal amount of
each such Series of Notes as of the last day of such Monthly Period or, in the case of any Series that is a Variable Interest, the average aggregate principal amount of such Series during such Monthly Period; provided that for purposes of the
foregoing calculation, the Monthly Period preceding the first Distribution Date shall be deemed to be the July 2010 calendar month. 

“Trust Portfolio Yield” means, for any Monthly Period, the weighted average for all outstanding Series of Notes issued
by the Issuer, excluding Series 2010-A, of the “Portfolio Yields” (as defined for each Series in the related Indenture Supplement), weighted in each case by the outstanding aggregate principal amount of each such Series of Notes as of the
last day of such Monthly Period or, in the case of any Series that is a Variable Interest, the average aggregate principal amount of such Series during such Monthly Period; provided that for purposes of the foregoing calculation, the Monthly Period
preceding the first Distribution Date shall be deemed to be the July 2010 calendar month. 
 “Weighted Average Fixed
Rate” means a per annum rate of 4.27%. 
 (b) Each capitalized term defined herein shall relate to the Series 2010-A
Notes and no other Series of Notes issued by the Trust, unless the context otherwise requires. All capitalized terms used herein and not otherwise defined herein have the meanings ascribed to them in Annex A to the Master Indenture. 

(c) The interpretive rules specified in Section 1.2 of the Master Indenture also apply to this Indenture Supplement. If any
term or provision contained herein shall conflict with or be inconsistent with any term or provision contained in the Master Indenture, the terms and provisions of this Indenture Supplement shall be controlling. 

ARTICLE III. 

Noteholder Servicing Fee 

Section 3.1 Servicing Compensation. The share of the Servicing Fee allocable to Series 2010-A for any Transfer Date (the
“Noteholder Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Series Servicing Fee Percentage and (b) the Collateral Amount as of the last day of the Monthly Period preceding such Transfer Date;
provided, however, that with respect to the first Transfer Date, the Noteholder Servicing Fee shall be equal to $482,805.78. The remainder of the Servicing Fee shall be paid by the holders of the Transferor Interest or the noteholders
of other Series (as provided in the related Indenture Supplements) and in no event shall the Trust, the Indenture Trustee or the Series 2010-A Noteholders be liable for the share of the Servicing Fee to be paid by the holders of the Transferor
Interest or the noteholders of any other Series. 
 Section 3.2 Covenants. The parties hereto agree that the covenants
set forth in Schedule I shall be a part of this Indenture Supplement for all purposes. 
  

 17 

 ARTICLE IV. 

Rights of Series 2010-A Noteholders and Allocation and Application of Collections 

Section 4.1 Collections and Allocations 

(a) Allocations. Finance Charge Collections, Principal Collections and Defaulted Receivables allocated to Series 2010-A pursuant to
Article VIII of the Indenture shall be allocated and distributed as set forth in this Article. 
 (b) Allocations to
the Series 2010-A Noteholders. The Servicer shall on the Date of Processing, allocate to the Series 2010-A Noteholders the following amounts as set forth below: 

(i) Allocations of Finance Charge Collections. The Servicer shall allocate to the Series 2010-A Noteholders an
amount equal to the product of (A) the Allocation Percentage and (B) the aggregate Finance Charge Collections processed on such Date of Processing and shall deposit such amount into the Finance Charge Account, provided that, with
respect to each Monthly Period falling in the Revolving Period (and with respect to that portion of each Monthly Period in the Controlled Accumulation Period falling on or after the day on which Collections of Principal Receivables equal to the
related Controlled Deposit Amount have been allocated pursuant to Section 4.1(b)(ii) and deposited pursuant to Section 4.1(c)), so long as the Available Cash Collateral Amount is not less than the Required Cash Collateral
Amount on such Date of Processing, Collections of Finance Charge Receivables shall be transferred into the Finance Charge Account only until such time as the aggregate amount so deposited equals the sum (the “Target Amount”) of
(A) the Monthly Interest for the related Distribution Date, (B) if WFN is not the Servicer, the Noteholder Servicing Fee (and if WFN is the Servicer, then amounts that otherwise would have been transferred into the Finance Charge Account
pursuant to this clause (B) shall instead be returned to WFN as payment of the Noteholder Servicing Fee), (C) any amount required to be deposited in the Reserve Account, the Spread Account and the Cash Collateral Account on the related
Transfer Date and (D) the sum of 150% of the Investor Default Amounts from the prior Monthly Period and any Investor Uncovered Dilution Amounts from the prior Monthly Period; provided further, that, notwithstanding the preceding
proviso, if on any Business Day the Servicer determines that the Target Amount for a Monthly Period exceeds the Target Amount for that Monthly Period as previously calculated by Servicer, then (x) Servicer shall (on the same Business Day)
inform Transferor of such determination, and (y) within two Business Days of receiving such notice Transferor shall deposit into the Finance Charge Account funds in an amount equal to the amount of Collections of Finance Charge Receivables
allocated to the Noteholders for that Monthly Period but not deposited into the Finance Charge Account due to the operation of the preceding proviso (but not in excess of the amount required so that the aggregate amount deposited for the subject
Monthly Period equals the Target Amount); and provided, further, if on any Transfer Date the Transferor Amount is less than the Specified Transferor Amount after giving effect to all transfers and deposits on that Transfer Date,
Transferor shall, on that Transfer Date, deposit into the Principal Account funds in an amount equal to the amounts of Available Finance Charge Collections that are required to be treated as 

 

 18 

 
Available Principal Collections pursuant to Section 4.4(a)(vi) and (vii) but are not available from funds in the Finance Charge Account as a result of the operation of the
second preceding proviso. 
 With respect to any Monthly Period when deposits of Collections of Finance Charge Receivables into
the Finance Charge Account are limited to deposits up to the Target Amount in accordance with clause (i) above, notwithstanding such limitation: (1) “Reallocated Principal Collections” for the related Transfer Date
shall be calculated as if the full amount of Finance Charge Collections allocated to the Noteholders during that Monthly Period had been deposited in the Finance Charge Account and applied on such Transfer Date in accordance with
Section 4.4(a); and (2) Collections of Finance Charge Receivables released to Transferor pursuant to such Section 4.1(b)(i) shall be deemed, for purposes of all calculations under this Indenture Supplement, to have been
retained in the Finance Charge Account and applied to the items specified in Sections 4.4(a) to which such amounts would have been applied (and in the priority in which they would have been applied) had such amounts been available in the
Finance Charge Account on such Transfer Date. To avoid doubt, the calculations referred to in the preceding clause (2) include the calculations required by clause (d) of the definition of Collateral Amount and by the
definition of Portfolio Yield. 
 (ii) Allocations of Principal Collections. The Servicer shall allocate
to the Series 2010-A Noteholders the following amounts as set forth below: 
 (x) Allocations During the
Revolving Period. 
 (1) During the Revolving Period an amount equal to the product of the Allocation
Percentage and the aggregate amount of Principal Collections processed on such Date of Processing, shall be allocated to the Series 2010-A Noteholders and first, if any other Principal Sharing Series is outstanding and in its accumulation period or
amortization period, retained in the Principal Account for application, to the extent necessary, as Shared Principal Collections to other Principal Sharing Series on the related Distribution Date, second deposited in the Excess Funding Account to
the extent necessary so that the Transferor Amount is not less than the Specified Transferor Amount and third paid to the holders of the Transferor Interest. 

(2) With respect to each Monthly Period falling in the Revolving Period, to the extent that Collections of Principal
Receivables allocated to the Series 2010-A Noteholders pursuant to this subsection 4.1(b)(ii) are paid to Transferor, Transferor shall make an amount equal to the Reallocated Principal Collections for the related Transfer Date available on
that Transfer Date for application in accordance with Section 4.6. 
 (y) Allocations During the
Controlled Accumulation Period. During the Controlled Accumulation Period an amount equal to the product of the Allocation Percentage and the aggregate amount of Principal Collections processed on such Date of Processing (the product for any
such date is hereinafter referred to as a “Percentage Allocation”) shall be allocated to the Series 2010-A 
  

 19 

 
Noteholders and transferred to the Principal Account until applied as provided herein; provided, however, that if the sum of such Percentage Allocation and all preceding Percentage Allocations
with respect to the same Monthly Period exceeds the Controlled Deposit Amount during the Controlled Accumulation Period for the related Distribution Date, then such excess shall not be treated as a Percentage Allocation and shall be first, if any
other Principal Sharing Series is outstanding and in its accumulation period or amortization period, retained in the Principal Account for application, to the extent necessary, as Shared Principal Collections to other Principal Sharing Series on the
related Distribution Date, second deposited in the Excess Funding Account to the extent necessary so that the Transferor Amount is not less than the Specified Transferor Amount and third paid to the holders of the Transferor Interest. 

(z) Allocations During the Early Amortization Period. During the Early Amortization Period, an amount equal to the
product of the Allocation Percentage and the aggregate amount of Principal Collections processed on such Date of Processing shall be allocated to the Series 2010-A Noteholders and transferred to the Principal Account until applied as provided
herein; provided, however, that after the date on which an amount of such Principal Collections equal to the Note Principal Balance has been deposited into the Principal Account such amount shall be first, if any other Principal Sharing Series is
outstanding and in its accumulation period or amortization period, retained in the Principal Account for application, to the extent necessary, as Shared Principal Collections to other Principal Sharing Series on the related Distribution Date, second
deposited in the Excess Funding Account to the extent necessary so that the Transferor Amount is not less than the Specified Transferor Amount and third paid to the holders of the Transferor Interest. 

(c) During any period when Servicer is permitted by Section 4.3 of the Pooling and Servicing Agreement or
Section 8.4 of the Indenture to make a single monthly deposit to the Collection Account, amounts allocated to the Noteholders pursuant to Sections 4.1(a) and (b) with respect to any Monthly Period need not be
deposited into the Collection Account or any Series Account prior to the related Transfer Date, and, when so deposited, (x) may be deposited net of any amounts required to be distributed to Transferor and, if WFN is Servicer, Servicer, and
(y) shall be deposited into the Finance Charge Account (in the case of Collections of Finance Charge Receivables) and the Principal Account (in the case of Collections of Principal Receivables (not including any Shared Principal Collections
allocated to Series 2010-A pursuant to Section 4.15 of the Pooling and Servicing Agreement or Section 8.5 of the Indenture)). 

(d) On any date, Servicer may withdraw from the Collection Account or any Series Account any amounts inadvertently deposited in such
account that should have not been so deposited. 
 Section 4.2 Determination of Monthly Interest. 

(a) The amount of monthly interest (“Class A Monthly Interest”) distributable from the Distribution Account with respect
to the Class A Notes on any Distribution Date shall be an 
  

 20 

 
amount equal to the product of (i) (A) a fraction, the numerator of which is 30 and the denominator of which is 360, times (B) the Class A Note Interest Rate in effect with
respect to the related Distribution Period and (ii) the Class A Note Principal Balance as of the close of business on the last day of the preceding Monthly Period (or, with respect to the initial Distribution Date, the Class A Note
Initial Principal Balance); provided that the Class A Monthly Interest for the August 2010 Distribution Date shall be $1,446,875.00. 

On the Determination Date preceding each Distribution Date, the Servicer shall determine the excess, if any (the “Class A
Deficiency Amount”), of (x) the aggregate amount accrued pursuant to this Section 4.2(a) as of the prior Distribution Date over (y) the amount actually transferred from the Distribution Account for payment of
such amount. If the Class A Deficiency Amount for any Distribution Date is greater than zero, on each subsequent Distribution Date until such Class A Deficiency Amount is fully paid, an additional amount (“Class A Additional
Interest”) equal to the product of (i) (A) a fraction, the numerator of which is 30 and the denominator of which is 360, times (B) the Class A Note Interest Rate in effect with respect to the related Distribution Period
plus 2% per annum and (ii) such Class A Deficiency Amount (or the portion thereof which has not been paid to the Class A Noteholders) shall be payable as provided herein with respect to the Class A Notes.
Notwithstanding anything to the contrary herein, Class A Additional Interest shall be payable or distributed to the Class A Noteholders only to the extent permitted by applicable law. 

(b) The amount of monthly interest (“Class M Monthly Interest”) distributable from the Distribution Account with respect
to the Class M Notes on any Distribution Date shall be an amount equal to the product of (i) (A) a fraction, the numerator of which is 30 and the denominator of which is 360, times (B) the Class M Note Interest Rate in effect with
respect to the related Distribution Period and (ii) the Class M Note Principal Balance as of the close of business on the last day of the preceding Monthly Period (or, with respect to the initial Distribution Date, the Class M Note Initial
Principal Balance); provided that the Class M Monthly Interest for the August 2010 Distribution Date shall be $90,187.50. 

On the Determination Date preceding each Distribution Date, the Servicer shall determine the excess, if any (the “Class M
Deficiency Amount”), of (x) the aggregate amount accrued pursuant to this Section 4.2(b) as of the prior Distribution Date over (y) the amount of funds actually transferred from the Distribution Account for
payment of such amount. If the Class M Deficiency Amount for any Distribution Date is greater than zero, on each subsequent Distribution Date until such Class M Deficiency Amount is fully paid, an additional amount (“Class M Additional
Interest”) equal to the product of (i) (A) a fraction, the numerator of which is 30 and the denominator of which is 360, times (B) the Class M Note Interest Rate in effect with respect to the related Distribution Period
plus 2% per annum and (ii) such Class M Deficiency Amount (or the portion thereof which has not been paid to the Class M Noteholders) shall be payable as provided herein with respect to the Class M Notes. Notwithstanding anything to
the contrary herein, Class M Additional Interest shall be payable or distributed to the Class M Noteholders only to the extent permitted by applicable law. 

(c) The amount of monthly interest (“Class B Monthly Interest”) distributable from the Distribution Account with respect
to the Class B Notes on any Distribution Date shall be an amount equal to the product of (i) (A) a fraction, the numerator of which is 30 and the 

 

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denominator of which is 360, times (B) the Class B Note Interest Rate in effect with respect to the related Distribution Period and (ii) the Class B Note Principal Balance as of the
close of business on the last day of the preceding Monthly Period (or, with respect to the initial Distribution Date, the Class B Note Initial Principal Balance); provided that the Class B Monthly Interest for the August 2010 Distribution
Date shall be $148,289.06. 
 On the Determination Date preceding each Distribution Date, the Servicer shall determine the
excess, if any (the “Class B Deficiency Amount”), of (x) the aggregate amount accrued pursuant to this Section 4.2(c) as of the prior Distribution Date over (y) the amount of funds actually transferred
from the Distribution Account for payment of such amount. If the Class B Deficiency Amount for any Distribution Date is greater than zero, on each subsequent Distribution Date until such Class B Deficiency Amount is fully paid, an additional amount
(“Class B Additional Interest”) equal to the product of (i) (A) a fraction, the numerator of which is 30 and the denominator of which is 360, times (B) the Class B Note Interest Rate in effect with respect to the related
Distribution Period plus 2% per annum and (ii) such Class B Deficiency Amount (or the portion thereof which has not been paid to the Class B Noteholders) shall be payable as provided herein with respect to the Class B Notes.
Notwithstanding anything to the contrary herein, Class B Additional Interest shall be payable or distributed to the Class B Noteholders only to the extent permitted by applicable law. 

(d) The amount of monthly interest (“Class C Monthly Interest”) distributable from the Distribution Account with respect
to the Class C Notes on any Distribution Date shall be an amount equal to the product of (i) (A) a fraction, the numerator of which is 30 and the denominator of which is 360, times (B) the Class C Note Interest Rate in effect with
respect to the related Distribution Period and (ii) the Class C Note Principal Balance as of the close of business on the last day of the preceding Monthly Period (or, with respect to the initial Distribution Date, the Class C Note Initial
Principal Balance); provided that the Class C Monthly Interest for the August 2010 Distribution Date shall be $289,062.50. 

On the Determination Date preceding each Distribution Date, the Servicer shall determine the excess, if any (the “Class C
Deficiency Amount”), of (x) the aggregate amount accrued pursuant to this Section 4.2(d) as of the prior Distribution Date over (y) the amount of funds actually transferred from the Distribution Account for
payment of such amount. If the Class C Deficiency Amount for any Distribution Date is greater than zero, on each subsequent Distribution Date until such Class C Deficiency Amount is fully paid, an additional amount (“Class C Additional
Interest”) equal to the product of (i) (A) a fraction, the numerator of which is 30 and the denominator of which is 360, times (B) the Class C Note Interest Rate in effect with respect to the related Distribution
Period plus 2% per annum and (ii) such Class C Deficiency Amount (or the portion thereof which has not been paid to the Class C Noteholders) shall be payable as provided herein with respect to the Class C Notes. Notwithstanding
anything to the contrary herein, Class C Additional Interest shall be payable or distributed to the Class C Noteholders only to the extent permitted by applicable law. 

Section 4.3 Determination of Monthly Principal. The amount of monthly principal to be transferred from the Principal Account with
respect to the Notes on each Transfer Date (the “Monthly Principal”), beginning with the Transfer Date in the month following the month in which the Controlled Accumulation Period or, if earlier, the Early Amortization Period,
begins, 
  

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shall be equal to the least of (i) the Available Principal Collections on deposit in the Principal Account with respect to such Transfer Date, (ii) for each Transfer Date with respect
to the Controlled Accumulation Period, the Controlled Deposit Amount for such Transfer Date, (iii) the Collateral Amount (after taking into account any adjustments to be made on such Distribution Date pursuant to Sections 4.5 and
4.6) prior to any deposit into the Principal Accumulation Account on such Transfer Date, and (iv) the Note Principal Balance, minus any amount already on deposit in the Principal Accumulation Account on such Transfer Date. 

Section 4.4 Application of Available Finance Charge Collections and Available Principal Collections. On or before each Transfer
Date, the Servicer shall instruct the Indenture Trustee in writing (which writing shall be substantially in the form of Exhibit B) to withdraw and the Indenture Trustee, acting in accordance with such instructions, shall withdraw on such
Transfer Date or related Distribution Date, as applicable, to the extent of available funds, the amount required to be withdrawn from the Finance Charge Account, the Principal Account, the Principal Accumulation Account and the Distribution Account
as follows: 
 (a) On each Transfer Date, an amount equal to the Available Finance Charge Collections with respect to the
related Distribution Date will be distributed or deposited in the following priority: 
 (i) an amount equal to
Class A Monthly Interest for such Distribution Date, plus any Class A Deficiency Amount, plus the amount of any Class A Additional Interest for such Distribution Date, plus the amount of any Class A
Additional Interest previously due but not distributed to Class A Noteholders on a prior Distribution Date shall be deposited by the Servicer or Indenture Trustee into the Distribution Account; 

(ii) an amount equal to Class M Monthly Interest for such Distribution Date, plus any Class M Deficiency Amount,
plus the amount of any Class M Additional Interest for such Distribution Date, plus the amount of any Class M Additional Interest previously due but not distributed to Class M Noteholders on a prior Distribution Date shall be deposited
by the Servicer or Indenture Trustee into the Distribution Account; 
 (iii) an amount equal to Class B Monthly
Interest for such Distribution Date, plus any Class B Deficiency Amount, plus the amount of any Class B Additional Interest for such Distribution Date, plus the amount of any Class B Additional Interest previously due but not
distributed to Class B Noteholders on a prior Distribution Date shall be deposited by the Servicer or Indenture Trustee into the Distribution Account; 

(iv) an amount equal to the Noteholder Servicing Fee for such Transfer Date, plus the amount of any Noteholder
Servicing Fee previously due but not distributed to the Servicer on a prior Transfer Date, shall be distributed to the Servicer; 

(v) an amount equal to Class C Monthly Interest for such Distribution Date, plus any Class C Deficiency Amount,
plus the amount of any Class C Additional Interest for such Distribution Date, plus the amount of any Class C Additional Interest previously due but not distributed to the Class C Noteholders on a prior Distribution Date shall be
deposited by the Servicer or Indenture Trustee into the Distribution Account; 
  

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 (vi) an amount equal to the Aggregate Investor Default Amount and any
Investor Uncovered Dilution Amount for such Distribution Date shall be treated as a portion of Available Principal Collections for such Distribution Date and, during the Controlled Accumulation Period or the Early Amortization Period, deposited into
the Principal Account on the related Transfer Date; 
 (vii) an amount equal to the sum of the aggregate amount
of Investor Charge-Offs and the amount of Reallocated Principal Collections which have not been previously reimbursed pursuant to this subsection (vii) shall be treated as a portion of Available Principal Collections for such
Distribution Date; 
 (viii) an amount equal to the excess, if any, of the Required Cash Collateral Amount
over the Available Cash Collateral Amount shall be deposited into the Cash Collateral Account as provided in Section 4.11(b); 

(ix) [Reserved]; 

(x) on each Transfer Date from and after the Reserve Account Funding Date, but prior to the date on which the Reserve
Account terminates as described in Section 4.10(f), an amount equal to the excess, if any, of the Required Reserve Account Amount over the Available Reserve Account Amount shall be deposited into the Reserve Account as provided in
Section 4.10(a); 
 (xi) an amount equal to the amounts required to be deposited in the Spread
Account pursuant to Section 4.12(f) shall be deposited into the Spread Account as provided in Section 4.12(f); 

(xii) any amounts designated in writing by the Transferor to the Servicer and Indenture Trustee as amounts to be paid from
Available Finance Charge Collections shall be paid in accordance with the Transferor’s instructions; and 

(xiii) the balance, if any, will constitute a portion of Excess Finance Charge Collections for such Distribution Date.

 (b) On each Transfer Date with respect to the Revolving Period, an amount equal to the Available Principal Collections for
the related Monthly Period shall be treated as Shared Principal Collections and applied in accordance with Section 8.5 of the Indenture. 

(c) On each Transfer Date with respect to the Controlled Accumulation Period or the Early Amortization Period, an amount equal to the
Available Principal Collections for the related Monthly Period shall be distributed or deposited in the following order of priority: 

(i) during the Controlled Accumulation Period, an amount equal to the Monthly Principal for such Transfer Date shall be
deposited into the Principal Accumulation Account; 
 (ii) during the Early Amortization Period, an amount equal
to the Monthly Principal for such Transfer Date shall be deposited into the Distribution Account on such 
  

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Transfer Date and on each subsequent Transfer Date for payment to the Class A Noteholders on the related Distribution Date until the Class A Note Principal Balance has been paid in
full; 
 (iii) during the Early Amortization Period, after giving effect to the distribution referred to in
clause (ii) above, an amount equal to the Monthly Principal remaining, if any, shall be deposited into the Distribution Account on such Transfer Date and on each subsequent Transfer Date for payment to the Class M Noteholders on the
related Distribution Date until the Class M Note Principal Balance has been paid in full; 
 (iv) during the
Early Amortization Period, after giving effect to the distribution referred to in clauses (ii) and (iii) above, an amount equal to the Monthly Principal remaining, if any, shall be deposited into the Distribution Account on
such Transfer Date and on each subsequent Transfer Date for payment to the Class B Noteholders on the related Distribution Date until the Class B Note Principal Balance has been paid in full; 

(v) during the Early Amortization Period, after giving effect to the distributions referred to in clauses (ii),
(iii) and (iv) above, an amount equal to the Monthly Principal remaining, if any, shall be deposited into the Distribution Account on such Transfer Date and on each subsequent Transfer Date for payment to the Class C
Noteholders on the related Distribution Date until the Class C Note Principal Balance has been paid in full; and 

(vi) in the case of each of the Controlled Accumulation Period and the Early Amortization Period, the balance of such
Available Principal Collections remaining after application in accordance with clauses (i) through (v) above shall be treated as Shared Principal Collections and applied in accordance with Section 8.5 of the
Indenture. 
 (d) On each Distribution Date, the Indenture Trustee shall pay in accordance with Section 5.2 to the
Class A Noteholders from the Distribution Account, the amount deposited into the Distribution Account pursuant to Section 4.4(a)(i) on the preceding Transfer Date, to the Class M Noteholders from the Distribution Account, the amount
deposited into the Distribution Account pursuant to Section 4.4(a)(ii) on the preceding Transfer Date, to the Class B Noteholders from the Distribution Account, the amount deposited into the Distribution Account pursuant to
Section 4.4(a)(iii) on the preceding Transfer Date and to the Class C Noteholders from the Distribution Account, the amount deposited into the Distribution Account pursuant to Section 4.4(a)(v) on the preceding Transfer Date.

 (e) On the earlier to occur of (i) the first Transfer Date with respect to the Early Amortization Period and
(ii) the Transfer Date immediately preceding the Expected Principal Payment Date, the Indenture Trustee, acting in accordance with instructions from the Servicer, shall withdraw from the Principal Accumulation Account and deposit into the
Distribution Account amounts necessary to pay first, to the Class A Noteholders, an amount equal to the Class A Note Principal Balance, second, to the Class M Noteholders, an amount equal to the Class M Note Principal Balance, third, to
the Class B Noteholders, an amount equal to the Class B Note Principal Balance, and fourth, to the Class C Noteholders, an amount equal to the Class C Note Principal Balance. The Indenture Trustee, acting in accordance with the instructions of the

  

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Servicer, shall in accordance with Section 5.2 pay from the Distribution Account to the Class A Noteholders, the Class M Noteholders, the Class B Noteholders and the Class C
Noteholders, as applicable, the amounts deposited for the account of such Noteholders into the Distribution Account pursuant to this Section 4.4(e). 

Section 4.5 Investor Charge-Offs. On each Determination Date, the Servicer shall calculate the Aggregate Investor Default Amount
and any Investor Uncovered Dilution Amount for the related Distribution Date. If, on any Distribution Date, the sum of the Aggregate Investor Default Amount and any Investor Uncovered Dilution Amount for such Distribution Date exceeds the sum of the
amount of Available Finance Charge Collections and the amount withdrawn from the Cash Collateral Account allocated with respect thereto pursuant to subsection 4.4(a)(vi) and Section 4.11(c), respectively, with respect to such
Distribution Date, the Collateral Amount will be reduced (but not below zero) by the amount of such excess (such reduction, an “Investor Charge-Off”). 

Section 4.6 Reallocated Principal Collections. On each Transfer Date, the Servicer shall apply, or shall instruct the Indenture
Trustee in writing to apply, Reallocated Principal Collections with respect to that Transfer Date, to fund any deficiency pursuant to and in the priority set forth in subsections 4.4(a)(i), (ii), (iii) and (iv),
after giving effect to any withdrawal from the Cash Collateral Account or the Spread Account to cover such payments. On each Transfer Date, the Collateral Amount shall be reduced (but not below zero) by the amount of Reallocated Principal
Collections for such Transfer Date. 
 Section 4.7 Excess Finance Charge Collections. Series 2010-A shall be an Excess
Allocation Series with respect to Group One only. For this purpose, each outstanding series of certificates issued by World Financial Network Master Trust (other than series represented by the Collateral Certificate) shall be deemed to be a Series
in Group One. Subject to Section 8.6 of the Indenture, Excess Finance Charge Collections with respect to the Excess Allocation Series in Group One for any Transfer Date will be allocated to Series 2010-A in an amount equal to the product
of (x) the aggregate amount of Excess Finance Charge Collections with respect to all the Excess Allocation Series in Group One for such Distribution Date and (y) a fraction, the numerator of which is the Finance Charge Shortfall for
Series 2010-A for such Distribution Date and the denominator of which is the aggregate amount of Finance Charge Shortfalls for all the Excess Allocation Series in Group One for such Distribution Date. The “Finance Charge Shortfall”
for Series 2010-A for any Distribution Date will be equal to the excess, if any, of (a) the full amount required to be paid, without duplication, pursuant to subsections 4.4(a)(i) through (xii) on such Distribution Date
over (b) the Available Finance Charge Collections with respect to such Distribution Date (excluding any portion thereof attributable to Excess Finance Charge Collections). 

Section 4.8 Shared Principal Collections. Subject to Section 4.4 of the Pooling and Servicing Agreement and
Section 8.5 of the Indenture, Shared Principal Collections allocable to Series 2010-A on any Transfer Date will be equal to the product of (x) the aggregate amount of Shared Principal Collections with respect to all Principal
Sharing Series for such Transfer Date and (y) a fraction, the numerator of which is the Principal Shortfall for Series 2010-A for such Transfer Date and the denominator of which is the aggregate amount of Principal Shortfalls for all the Series
which are Principal Sharing Series for such Transfer Date. For this purpose, each 
  

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outstanding series of certificates issued by World Financial Network Master Trust (other than series represented by the Collateral Certificate) shall be deemed to be a Principal Sharing Series.
The “Principal Shortfall” for Series 2010-A will be equal to (a) for any Transfer Date with respect to the Revolving Period or any Transfer Date during the Early Amortization Period prior to the earlier of (i) the Expected
Principal Payment Date and (ii) the date on which all outstanding Series are in early amortization periods, zero, (b) for any Transfer Date with respect to the Controlled Accumulation Period, the excess, if any, of the Controlled Deposit
Amount with respect to such Transfer Date over the amount of Available Principal Collections for such Transfer Date (excluding any portion thereof attributable to Shared Principal Collections) and (c) for any Transfer Date on or after
the earlier of (i) the Expected Principal Payment Date and (ii) the date on which all outstanding Series are in early amortization periods, the Note Principal Balance. 

Section 4.9 Certain Series Accounts. 

(a) The Indenture Trustee shall establish and maintain with an Eligible Institution, which may be the Indenture Trustee in the name of
the Trust, on behalf of the Trust, for the benefit of the Series 2010-A Noteholders, four segregated trust accounts (the “Finance Charge Account”, the “Principal Account”, the “Principal Accumulation
Account” and the “Distribution Account”). The Principal Account, the Principal Accumulation Account and the Distribution Account shall bear a designation clearly indicating that the funds deposited therein are held for the
benefit of the Series 2010-A Noteholders. The Finance Charge Account shall bear a designation clearly indicating that the funds deposited therein are held for the benefit of the Series 2010-A Noteholders. The Indenture Trustee shall possess all
right, title and interest in all funds on deposit from time to time in the Finance Charge Account, the Principal Account, the Principal Accumulation Account and the Distribution Account and in all proceeds thereof. The Finance Charge Account, the
Principal Account, the Principal Accumulation Account and the Distribution Account shall be under the sole dominion and control of the Indenture Trustee for the benefit of the Series 2010-A Noteholders. If at any time the institution holding the
Finance Charge Account, the Principal Account, the Principal Accumulation Account and the Distribution Account ceases to be an Eligible Institution, the Transferor shall notify the Indenture Trustee in writing, and the Indenture Trustee upon being
notified (or the Servicer on its behalf) shall, within ten (10) Business Days, establish a new Finance Charge Account, a new Principal Account, a new Principal Accumulation Account and a new Distribution Account meeting the conditions specified
above with an Eligible Institution, and shall transfer any cash or any investments to such new Finance Charge Account, new Principal Account, new Principal Accumulation Account and new Distribution Account. The Indenture Trustee, at the written
direction of the Servicer, shall (i) make withdrawals from the Finance Charge Account, the Principal Account, the Principal Accumulation Account and the Distribution Account from time to time, in the amounts and for the purposes set forth in
this Indenture Supplement, and (ii) on each Transfer Date (from and after the commencement of the Controlled Accumulation Period) prior to the termination of the Principal Accumulation Account, make deposits into the Principal Accumulation
Account in the amounts specified in, and otherwise in accordance with, subsection 4.4(c)(i). Indenture Trustee at all times shall maintain accurate records reflecting each transaction in the Finance Charge Account, the Principal Account, the
Principal Accumulation Account and the Distribution Account. 
  

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 (b) Funds on deposit in the Finance Charge Account, the Principal Account, the Principal
Accumulation Account and the Distribution Account, from time to time shall be invested and reinvested at the direction of the Servicer by the Indenture Trustee in Eligible Investments that will mature so that such funds will be available for
withdrawal on or prior to the following Transfer Date. 
 On each Transfer Date with respect to the Controlled Accumulation
Period and on the first Transfer Date with respect to the Early Amortization Period, the Indenture Trustee, acting at the Servicer’s direction given on or before such Transfer Date, shall transfer from the Principal Accumulation Account to the
Finance Charge Account the Principal Accumulation Investment Proceeds on deposit in the Principal Accumulation Account for application as Available Finance Charge Collections in accordance with Section 4.4. 

Principal Accumulation Investment Proceeds (including reinvested interest) shall not be considered part of the amounts on deposit in the
Principal Accumulation Account for purposes of this Indenture Supplement. 
 Section 4.10 Reserve Account. 

(a) The Indenture Trustee shall establish and maintain with an Eligible Institution, which may be the Indenture Trustee in the name of
the Trust, on behalf of the Trust, for the benefit of the Series 2010-A Noteholders, a segregated trust account (the “Reserve Account”), bearing a designation clearly indicating that the funds deposited therein are held for the
benefit of the Series 2010-A Noteholders. The Indenture Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole
dominion and control of the Indenture Trustee for the benefit of the Series 2010-A Noteholders. If at any time the institution holding the Reserve Account ceases to be an Eligible Institution, the Transferor shall notify the Indenture Trustee, and
the Indenture Trustee upon being notified (or the Servicer on its behalf) shall, within ten (10) Business Days, establish a new Reserve Account meeting the conditions specified above with an Eligible Institution, and shall transfer any cash or
any investments to such new Reserve Account. The Indenture Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time,
for the purposes set forth in this Indenture Supplement, and (ii) on each Transfer Date (from and after the Reserve Account Funding Date) prior to termination of the Reserve Account, make a deposit into the Reserve Account in the amount
specified in, and otherwise in accordance with, subsection 4.4(a)(x). 
 (b) Funds on deposit in the Reserve Account
shall be invested at the written direction of the Servicer by the Indenture Trustee in Eligible Investments. Funds on deposit in the Reserve Account on any Transfer Date, after giving effect to any withdrawals from the Reserve Account on such
Transfer Date, shall be invested in such investments that will mature so that such funds will be available for withdrawal on or prior to the following Transfer Date. 

On each Transfer Date, all interest and earnings (net of losses and investment expenses) accrued since the preceding Transfer Date on
funds on deposit in the Reserve Account shall be retained in the Reserve Account (to the extent that the Available Reserve Account Amount is 

 

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less than the Required Reserve Account Amount) and the balance, if any, shall be deposited into the Finance Charge Account and included in Available Finance Charge Collections for such Transfer
Date. For purposes of determining the availability of funds or the balance in the Reserve Account for any reason under this Indenture Supplement, except as otherwise provided in the preceding sentence, investment earnings on such funds shall be
deemed not to be available or on deposit. 
 (c) On or before each Transfer Date with respect to the Controlled Accumulation
Period and on or before the first Transfer Date with respect to the Early Amortization Period, the Servicer shall calculate the Reserve Draw Amount; provided, however, that such amount will be reduced to the extent that funds otherwise
would be available for deposit in the Reserve Account under Section 4.4(a)(x) with respect to such Transfer Date. 

(d) If for any Transfer Date the Reserve Draw Amount is greater than zero, the Reserve Draw Amount, up to the Available Reserve Account
Amount, shall be withdrawn from the Reserve Account on such Transfer Date by the Indenture Trustee (acting in accordance with the written instructions of the Servicer) and deposited into the Finance Charge Account for application as Available
Finance Charge Collections for such Transfer Date. 
 (e) If the Reserve Account Surplus on any Transfer Date, after giving
effect to all deposits to and withdrawals from the Reserve Account with respect to such Transfer Date, is greater than zero, the Indenture Trustee, acting in accordance with the written instructions of the Servicer, shall withdraw from the Reserve
Account an amount equal to such Reserve Account Surplus and (x) deposit such amounts in the Spread Account, to the extent that funds on deposit in the Spread Account are less than the Required Spread Account Amount, and (y) distribute any
such amounts remaining after application pursuant to the preceding clause (x) to the holders of the Transferor Interest. 

(f) Upon the earliest to occur of (i) the termination of the Trust pursuant to Article VIII of the Trust Agreement,
(ii) the first Transfer Date relating to the Early Amortization Period and (iii) the Transfer Date immediately preceding the Expected Principal Payment Date, the Indenture Trustee, acting in accordance with the instructions of the
Servicer, after the prior payment of all amounts owing to the Series 2010-A Noteholders that are payable from the Reserve Account as provided herein, shall withdraw from the Reserve Account all amounts, if any, on deposit in the Reserve Account and
deposit such amounts into the Finance Charge Account for application in the priority set forth in Section 4.4(a), to the extent such payments or deposits have not be made pursuant to Section 4.4(a). The Reserve Account shall
thereafter be automatically terminated for purposes of this Indenture Supplement. 
 Section 4.11 Cash Collateral
Account. 
 (a) The Indenture Trustee shall establish and maintain with an Eligible Institution, which may be the Indenture
Trustee in the name of the Trust, on behalf of the Trust, for the benefit of the Series 2010-A Noteholders, a segregated trust account (the “Cash Collateral Account”), bearing a designation clearly indicating that the funds
deposited therein are held for the benefit of the Series 2010-A Noteholders. The Indenture Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Cash Collateral Account and in all

  

 29 

 
proceeds thereof. The Cash Collateral Account shall be under the sole dominion and control of the Indenture Trustee for the benefit of the Series 2010-A Noteholders. If at any time the
institution holding the Cash Collateral Account ceases to be an Eligible Institution, the Transferor shall notify the Indenture Trustee, and the Indenture Trustee upon being notified (or the Servicer on its behalf) shall, within ten
(10) Business Days, establish a new Cash Collateral Account meeting the conditions specified above with an Eligible Institution, and shall transfer any cash or any investments to such new Cash Collateral Account. 

(b) On the Closing Date, Transferor shall deposit $15,113,920 in immediately available funds into the Cash Collateral Account. On each
day on which funds are released from the Pre-Funding Account pursuant to Section 4.16(d), funds so released, to the extent available for such purpose, shall be deposited into the Cash Collateral Account up to an amount equal to the
amount by which the Required Cash Collateral Amount exceeds the Available Cash Collateral Amount on such date of determination. In addition, if on any Transfer Date, the Available Cash Collateral Amount is less than the Required Cash Collateral
Amount then in effect, Available Finance Charge Collections, to the extent available for such purpose, shall be deposited in the Cash Collateral Account pursuant to Section 4.4(a)(viii) up to an amount equal to the amount by which the
Required Cash Collateral Amount exceeds the Available Cash Collateral Amount. Funds on deposit in the Cash Collateral Account shall be invested at the written direction of the Servicer by the Indenture Trustee in Eligible Investments. Funds on
deposit in the Cash Collateral Account on any Transfer Date, after giving effect to any withdrawals from the Cash Collateral Account on such Transfer Date, shall be invested in such investments that will mature so that such funds will be available
for withdrawal on or prior to the following Transfer Date. 
 On each Transfer Date, all interest and earnings (net of losses
and investment expenses) accrued since the preceding Transfer Date on funds on deposit in the Cash Collateral Account shall be retained in the Cash Collateral Account (to the extent that the Available Cash Collateral Account Amount is less than the
Required Cash Collateral Account Amount) and the balance, if any, shall be deposited into the Finance Charge Account and included in Available Finance Charge Collections for such Transfer Date. For purposes of determining the availability of funds
or the balance in the Cash Collateral Account for any reason under this Indenture Supplement, except as otherwise provided in the preceding sentence, interest and earnings on such funds shall be deemed not to be available or on deposit. 

(c) On each Determination Date, Servicer shall calculate the amount (the “Required Draw Amount”) by which the sum of the
amounts required to be distributed pursuant to Sections 4.4(a)(i) through (vi) with respect to the related Transfer Date exceeds the amount of Available Finance Charge Collections with respect to the related Monthly Period.
If the Required Draw Amount for any Transfer Date is greater than zero, Servicer shall give written notice to the Indenture Trustee of such positive Required Draw Amount on the related Determination Date. On the related Transfer Date, the Required
Draw Amount, if any, up to the Available Cash Collateral Amount, shall be withdrawn from the Cash Collateral Account and distributed to fund any deficiency pursuant to Section 4.4(a)(i) through (vi) (in the order of priority
set forth in Section 4.4(a)). 
  

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 (d) On (i) any Transfer Date and (ii) the last day of the Pre-Funding Period, if,
after giving effect to all deposits to and withdrawals from the Cash Collateral Account on such date, the amount on deposit in the Cash Collateral Account exceeds the Required Cash Collateral Amount, the Indenture Trustee acting in accordance with
the instructions of the Servicer, shall withdraw an amount equal to such excess from the Cash Collateral Account and (i) deposit such amounts in the Spread Account, to the extent that funds on deposit in the Spread Account are less than the
Required Spread Account Amount and (ii) distribute such amounts remaining after application pursuant to Section 4.11(c) to the Transferor. 

Section 4.12 Spread Account. 

(a) On or prior to the Closing Date, the Indenture Trustee shall establish and maintain with an Eligible Institution, which may be the
Indenture Trustee in the name of the Trust, on behalf of the Trust, for the benefit of the Class C Noteholders and the Transferor, a segregated account (the “Spread Account”), bearing a designation clearly indicating that the funds
deposited therein are held for the benefit of the Class C Noteholders and the Transferor. Except as otherwise provided in this Section 4.12, the Indenture Trustee shall possess all right, title and interest in all funds on deposit from
time to time in the Spread Account and in all proceeds thereof. The Spread Account shall be under the sole dominion and control of the Indenture Trustee for the benefit of the Class C Noteholders and the holder of the Transferor Interest. If at any
time the institution holding the Spread Account ceases to be an Eligible Institution, the Servicer shall notify the Indenture Trustee in writing, and the Indenture Trustee upon being notified (or the Servicer on its behalf) shall, within ten
(10) Business Days (or such longer period as to which the Rating Agencies may consent) establish a new Spread Account meeting the conditions specified above with an Eligible Institution and shall transfer any cash or any investments to such new
Spread Account. The Indenture Trustee, at the written direction of the Servicer, shall (i) make withdrawals from the Spread Account from time to time in an amount up to the Available Spread Account Amount at such time, for the purposes set
forth in this Indenture Supplement, and (ii) on each Transfer Date prior to termination of the Spread Account, make a deposit into the Spread Account in the amount specified in, and otherwise in accordance with, Section 4.12(f).

 (b) Funds on deposit in the Spread Account shall be invested at the written direction of the Servicer by the Indenture
Trustee in Eligible Investments. Funds on deposit in the Spread Account on any Transfer Date, after giving effect to any withdrawals from and deposits to the Spread Account on such Transfer Date, shall be invested in such investments that will
mature so that such funds will be available for withdrawal on or prior to the following Transfer Date. 
 On each Transfer Date
(but subject to Section 4.12(c)), the Investment Earnings, if any, accrued since the preceding Transfer Date on funds on deposit in the Spread Account shall be retained in the Spread Account (to the extent that the Available Spread
Account Amount is less than the Required Spread Account Amount) and the balance, if any, shall be deposited into the Finance Charge Account and included in Available Finance Charge Collections for such Transfer Date. For purposes of determining the
availability of funds or the balance in the Spread Account for any reason under this Indenture Supplement (subject to Section 4.12(c)), all Investment Earnings shall be deemed not to be available or on deposit. 

 

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 (c) If, on any Transfer Date, the aggregate amount of Available Finance Charge Collections
and the amount, if any, withdrawn from the Cash Collateral Account available for deposit into the Distribution Account pursuant to subsection 4.4(a)(v) and Section 4.11(c), respectively, is less than the aggregate amount
required to be deposited pursuant to subsection 4.4(a)(v), the Indenture Trustee, at the written direction of the Servicer, shall withdraw from the Spread Account the amount of such deficiency up to the Available Spread Account Amount
and, if the Available Spread Account Amount is less than such deficiency, Investment Earnings credited to the Spread Account, and deposit such amount in the Distribution Account to fund any deficiency pursuant to subsection 4.4(a)(v).

 (d) On the earlier of Series 2010-A Final Maturity Date and the date on which the Class A Note Principal Balance, the
Class M Note Principal Balance and the Class B Note Principal Balance have been paid in full, after applying any funds on deposit in the Spread Account as described in Section 4.12(c), the Indenture Trustee at the written direction of
the Servicer shall withdraw from the Spread Account an amount equal to the lesser of (i) the Class C Note Principal Balance (after any payments to be made pursuant to Section 4.4(c) on such date) and (ii) the Available Spread
Account Amount and, if the Available Spread Account Amount is not sufficient to reduce the Class C Note Principal Balance to zero, Investment Earnings credited to the Spread Account up to the amount required to reduce the Class C Note Principal
Balance to zero, and the Indenture Trustee upon the written direction of the Servicer or the Servicer shall deposit such amounts into the Distribution Account for distribution to the Class C Noteholders in accordance with Section 5.2(f).

 (e) On any day following the occurrence of an Event of Default with respect to Series 2010-A and acceleration of the maturity
of the Series 2010-A Notes pursuant to Section 5.3 of the Indenture, Servicer shall withdraw from the Spread Account an amount equal to the Available Spread Account Amount and Indenture Trustee or Servicer shall deposit such amounts into
the Distribution Account for distribution to the Class C Noteholders, the Class A Noteholders, the Class M Noteholders and the Class B Noteholders, in that order of priority, in accordance with Section 5.2, to fund any shortfalls in
amounts owed to such Noteholders. 
 (f) If on any Transfer Date, after giving effect to all withdrawals from the Spread
Account, the Available Spread Account Amount is less than the Required Spread Account Amount then in effect, Available Finance Charge Collections, to the extent available, shall be deposited into the Spread Account pursuant to subsection
4.4(a)(xi) up to the amount of the Spread Account Deficiency. 
 (g) If, after giving effect to all deposits to and
withdrawals from the Spread Account with respect to any Transfer Date, the amount on deposit in the Spread Account exceeds the Required Spread Account Amount, the Indenture Trustee acting in accordance with the instructions of the Servicer, shall
withdraw an amount equal to such excess from the Spread Account and distribute such amount to the Transferor. On the date on which the Class C Note Principal Balance has been paid in full, after making any payments to the Noteholders required
pursuant to Sections 4.12(c), (d) and (e), the Indenture Trustee, at the written direction of Servicer, shall withdraw from the Spread Account all amounts then remaining in the Spread Account and pay such amounts to the
Transferor. 
  

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 Section 4.13 Investment Instructions. (a) Any investment instructions required
to be given to the Indenture Trustee pursuant to the terms hereof must be given to the Indenture Trustee no later than 11:00 a.m., New York City time, on the date such investment is to be made. In the event the Indenture Trustee receives such
investment instruction later than such time, the Indenture Trustee may, but shall have no obligation to, make such investment. In the event the Indenture Trustee is unable to make an investment required in an investment instruction received by the
Indenture Trustee after 11:00 a.m., New York City time, on such day, such investment shall be made by the Indenture Trustee on the next succeeding Business Day. In no event shall the Indenture Trustee be liable for any investment not made pursuant
to investment instructions received after 11:00 a.m., New York City time, on the day such investment is requested to be made. 

(b) The Indenture Trustee shall hold such of the Eligible Investments in the Series Accounts as consists of instruments, deposit
accounts, negotiable documents, money, goods, letters of credit, and advices of credit in the State of New York and/or Illinois. The Indenture Trustee shall hold such of the Eligible Investments as constitutes investment property through a
securities intermediary, which securities intermediary shall agree with the Indenture Trustee that (a) such investment property shall at all times be credited to a securities account of the Indenture Trustee, (b) such securities
intermediary shall treat the Indenture Trustee as entitled to exercise the rights that comprise each financial asset credited to such securities account, (c) all property credited to such securities account shall be treated as a financial
asset, (d) such securities intermediary shall comply with entitlement orders originated by the Indenture Trustee without the further consent of any other person or entity, (e) such securities intermediary will not agree with any person or
entity other than the Indenture Trustee to comply with entitlement orders originated by such other person or entity, (f) such securities accounts and the property credited thereto shall not be subject to any lien, security interest or right of
set-off in favor of such securities intermediary or anyone claiming through it (other than the Indenture Trustee), and (g) such agreement shall be governed by the laws of the State of New York. Terms used in the preceding sentence that are
defined in the New York UCC and not otherwise defined herein shall have the meaning set forth in the New York UCC. 
 Section
4.14 Controlled Accumulation Period. The Controlled Accumulation Period is scheduled to commence at the beginning of business on June 1, 2014; provided that if the Controlled Accumulation Period Length (determined as described
below) on any Determination Date on or after the May 2014 Determination Date is less than 12 months, upon written notice to the Indenture Trustee, Transferor and, each Rating Agency, Servicer shall postpone the date on which the Controlled
Accumulation Period actually commences so that the number of Monthly Periods in the Controlled Accumulation Period will equal the Controlled Accumulation Period Length; provided that (i) the length of the Controlled Accumulation Period
will not be less than one month, (ii) such determination of the Controlled Accumulation Period Length shall be made on each Determination Date on and after the May 2014 Determination Date but prior to the commencement of the Controlled
Accumulation Period, and any postponement of the Controlled Accumulation Period shall be subject to the subsequent lengthening of the Controlled Accumulation Period to the Controlled Accumulation Period Length determined on any subsequent
Determination Date, but the Controlled Accumulation Period shall in no event commence prior to the Controlled Accumulation Date, and (iii) notwithstanding any other provision of this Indenture Supplement to the contrary, no postponement of the
Controlled 
  

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Accumulation Period shall be made after an Early Amortization Event shall have occurred and be continuing with respect to any other Series. The “Controlled Accumulation Period
Length” will mean a number of whole months such that the amount available for distribution of principal on the Class A Notes, the Class M Notes, the Class B Notes and the Class C Notes on the Expected Principal Payment Date is expected
to equal or exceed the Note Principal Balance, assuming for this purpose that (1) the payment rate with respect to Principal Collections remains constant at the lowest level of such payment rate during the twelve preceding Monthly Periods (or
such lower payment rate as Servicer may select), (2) the total amount of Principal Receivables in the Trust (and the principal amount on deposit in the Excess Funding Account, if any) remains constant at the level on such date of determination,
(3) no Early Amortization Event with respect to any Series will subsequently occur and (4) no additional Series (other than any Series being issued on such date of determination) will be subsequently issued; provided that the
Servicer may on any Determination Date increase the Controlled Accumulation Period Length calculated as described in the preceding sentence by either 1 month or 2 months. Any notice by Servicer modifying the commencement of the Controlled
Accumulation Period pursuant to this Section 4.14 shall specify (i) the Controlled Accumulation Period Length, (ii) the commencement date of the Controlled Accumulation Period and (iii) the Controlled Accumulation Amount
with respect to each Monthly Period during the Controlled Accumulation Period. The Servicer shall calculate the Controlled Accumulation Period Length on each Determination Date prior to the May 2014 Determination Date as necessary to determine the
Reserve Account Funding Date. 
 Section 4.15 Suspension of Controlled Accumulation Period. (a) The commencement of
the Controlled Accumulation Period shall be suspended upon delivery by the Servicer to the Indenture Trustee of (i) an Officer’s Certificate stating that all conditions precedent to such suspension set forth in this
Section 4.15 have been satisfied, (ii) a copy of an executed Qualified Maturity Agreement, (iii) an Opinion of Counsel addressed to the Indenture Trustee as to the due authorization, execution and delivery and the validity and
enforceability of such Qualified Maturity Agreement and (iv) a Tax Opinion concerning the effect of entering into the Qualified Maturity Agreement. The Servicer shall deliver a prior notice to the Rating Agencies of such suspension. The Issuer
does hereby transfer, assign, set-over, and otherwise convey to the Indenture Trustee for the benefit of the Series 2010-A Noteholders, without recourse, all of its rights under any Qualified Maturity Agreement obtained in accordance with this
Section 4.15 and all proceeds thereof. Such property shall constitute part of the Trust Estate for all purposes of the Indenture. The foregoing transfer, assignment, set-over and conveyance does not constitute and is not intended to
result in a creation or an assumption by the Indenture Trustee or any Noteholder of any obligation of the Issuer or any other Person in connection with a Qualified Maturity Agreement or under any agreement or instrument relating thereto. 

The Indenture Trustee hereby acknowledges its acceptance, to the extent validly transferred, assigned, set-over or otherwise conveyed to
the Indenture Trustee, for the benefit of the Series 2010-A Noteholders, of all of the rights previously held by the Issuer under any Qualified Maturity Agreement obtained by the Issuer and all proceeds thereof, and declares that it shall hold such
rights upon the trust set forth herein and in the Agreement, and subject to the terms hereof and thereof, for the benefit of the Series 2010-A Noteholders. 
  

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 (b) The Issuer shall cause the provider of each Qualified Maturity Agreement to deposit into
the Principal Accumulation Account on or before the Expected Principal Payment Date an amount equal to the initial Note Principal Balance; provided, however, that, if provided in the related Qualified Maturity Agreement, all or a
portion of such deposits may be funded with the proceeds of the issuance of a new Series or with the Available Principal Collections with respect to such Transfer Date. The amounts so deposited shall be applied on the Expected Principal Payment Date
pursuant to Section 4.4(c) as if the commencement of the Controlled Accumulation Period had not been suspended. 

(c) Each Qualified Maturity Agreement shall terminate at the close of business on the Expected Principal Payment Date; provided,
however, that the Issuer shall terminate a Qualified Maturity Agreement prior to such Distribution Date, with notice to each Rating Agency, if (i) the Available Reserve Account Amount equals the Required Reserve Account Amount and
(ii) one of the following events occurs: (A) the Issuer obtains a substitute Qualified Maturity Agreement, (B) the provider of the Qualified Maturity Agreement ceases to qualify as an Eligible Institution and the Issuer is unable to
obtain a substitute Qualified Maturity Agreement or (C) an Early Amortization Event occurs. In the event that the provider of a Qualified Maturity Agreement ceases to qualify as an Eligible Institution, the Issuer shall use its best efforts to
obtain a substitute Qualified Maturity Agreement. 
 (d) If a Qualified Maturity Agreement is terminated prior to the earlier of
the Expected Principal Payment Date and the commencement of the Early Amortization Period and the Issuer does not obtain a substitute Qualified Maturity Agreement, the Controlled Accumulation Period shall commence on the latest of (i) the
beginning of business on June 1, 2014, (ii) the date to which the commencement of the Controlled Accumulation Period is postponed pursuant to Section 4.l4 (as determined on the date of such termination) and (iii) the first
day of the Monthly Period following the date of such termination. 
 Section 4.16 Pre-Funding Account. 

(a) The Indenture Trustee shall establish and maintain with an Eligible Institution, which may be the Indenture Trustee in the name of
the Trust, on behalf of the Trust, for the benefit of the Series 2010-A Noteholders, a segregated trust account (the “Pre-Funding Account”), bearing a designation clearly indicating that the funds deposited therein are held for the
benefit of the Series 2010-A Noteholders. The Indenture Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Pre-Funding Account and in all proceeds thereof. The Pre-Funding Account shall be under the
sole dominion and control of the Indenture Trustee for the benefit of the Series 2010-A Noteholders. If at any time the institution holding the Pre-Funding Account ceases to be an Eligible Institution, the Transferor shall notify the Indenture
Trustee in writing, and the Indenture Trustee upon being notified (or the Servicer on its behalf) shall, within ten (10) Business Days, establish a new Pre-Funding Account meeting the conditions specified above with an Eligible Institution, and
shall transfer any cash or any investments to such new Pre-Funding Account. The Indenture Trustee, at the written direction of the Servicer, shall make withdrawals from the Pre-Funding Account from time to time, in the amounts and for the purposes
set forth in this Indenture Supplement. The Indenture Trustee at all times shall maintain accurate records reflecting each transaction in the Pre-Funding Account. 

 

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 (b) Funds on deposit in the Pre-Funding Account (exclusive of investment earnings on deposit
in the Pre-Funding Account), from time to time, shall be invested and reinvested at the direction of the Servicer by the Indenture Trustee in Eligible Investments so that funds will be available for withdrawal on any Business Day. 

(c) The Transferor shall deposit a portion of the cash proceeds of the sale of the Series 2010-A Notes in an amount equal to $72,152,000
into the Pre-Funding Account on the Closing Date. On the date on which the Pre-Funded Amount is released from the Pre-Funding Account pursuant to Section 4.16(d) or (e), as applicable, all interest and investment earnings on Eligible
Investments (net of losses and investment expenses) on deposit in the Pre-Funding Account shall be transferred to the Finance Charge Account and shall be treated as Available Finance Charge Collections for the July 2010 Monthly Period. 

(d) On any Business Day on or after the date on which sufficient funds have been set aside in the Series Accounts to pay the outstanding
principal amount of the Series 2008-A Notes in full, the Transferor (or the Servicer on behalf of the Transferor), may request the Pre-Funded Amount to be released from the Pre-Funding Account by delivery of a certificate in the form attached as
Exhibit D hereto (a “Pre-Funding Release Notice”). Such Pre-Funding Release Notice shall include a representation by the Transferor that the Transferor Amount shall not be less than the Minimum Transferor Amount on such date,
after giving effect to the requested withdrawal from the Pre-Funding Account and the increase in the Collateral Amount resulting therefrom in accordance with clause (b) of the definition of “Collateral Amount.” Such Pre-Funding
Release Notice shall be delivered not later than the last day of the Monthly Period in which sufficient funds have been set aside in the Trust Accounts to pay the outstanding principal amount of the Series 2008-A Notes in full; provided that
the Transferor shall not be required to deliver, and shall not be permitted to deliver, any such Pre-Funding Release Notice if the release of funds from the Pre-Funding Account and related increase in the Collateral Amount would cause the Transferor
Amount to be less than the Minimum Transferor Amount after giving effect to such release. The Indenture Trustee, pursuant to directions contained in the Pre-Funding Release Notice, shall apply the Pre-Funded Amount released from the Pre-Funding
Account in the following order of priority: (a) to deposit into the Cash Collateral Account an amount equal to the excess, if any, of the Required Cash Collateral Amount (calculated after giving effect to the increase in the Collateral Amount
resulting from such release) over the Available Cash Collateral Amount and (b) any remaining amount shall be released to the Transferor. The Pre-Funding Account shall thereafter be automatically terminated for purposes of this Indenture
Supplement. 
 (e) To the extent the Pre-Funded Amount has not been released from the Pre-Funding Account in accordance with
Section 4.16(d), on the August 2010 Transfer Date, the Pre-Funded Amount shall be withdrawn from the Pre-Funding Account and transferred to the Distribution Account. On the August 2010 Distribution Date, amounts deposited into the
Distribution Account pursuant to the preceding sentence shall be distributed to the Class A Noteholders, the Class M Noteholders, the Class B Noteholders and the Class C Noteholders, pro rata, based on the initial principal amounts of
the Class A Notes, the Class M Notes, the Class B Notes and the Class C Notes, respectively. The Pre-Funding Account shall thereafter be automatically terminated for purposes of this Indenture Supplement. 

 

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 Section 4.17 Pre-Funding Period Reserve Account. 

(a) The Indenture Trustee shall establish and maintain with an Eligible Institution, which may be the Indenture Trustee in the name of
the Trust, on behalf of the Trust, for the benefit of the Series 2010-A Noteholders, a segregated trust account (the “Pre-Funding Period Reserve Account”), bearing a designation clearly indicating that the funds deposited therein
are held for the benefit of the Series 2010-A Noteholders. The Indenture Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Pre-Funding Period Reserve Account and in all proceeds thereof. The
Pre-Funding Period Reserve Account shall be under the sole dominion and control of the Indenture Trustee for the benefit of the Series 2010-A Noteholders. If at any time the institution holding the Pre-Funding Period Reserve Account ceases to be an
Eligible Institution, the Transferor shall notify the Indenture Trustee in writing, and the Indenture Trustee upon being notified (or the Servicer on its behalf) shall, within ten (10) Business Days, establish a new Pre-Funding Period Reserve
Account meeting the conditions specified above with an Eligible Institution, and shall transfer any cash or any investments to such new Pre-Funding Period Reserve Account. The Indenture Trustee, at the written direction of the Servicer, shall make
withdrawals from the Pre-Funding Period Reserve Account from time to time, in the amounts and for the purposes set forth in this Indenture Supplement. The Indenture Trustee at all times shall maintain accurate records reflecting each transaction in
the Pre-Funding Period Reserve Account. 
 (b) Funds on deposit in the Pre-Funding Period Reserve Account, from time to time,
shall be invested and reinvested at the direction of the Servicer by the Indenture Trustee in Eligible Investments that will mature so that funds will be available for withdrawal on or prior to the following Transfer Date. All interest and earnings
on Eligible Investments included in the Pre-Funding Period Reserve Account (net of losses and investment expenses) shall be retained in the Pre-Funding Period Reserve Account and shall be included in the Available Pre-Funding Period Reserve Amount.

 (c) On the Closing Date, Transferor shall deposit $316,647.07 in immediately available funds into the Pre-Funding Period
Reserve Account. 
 (d) On the August 2010 Transfer Date, the Indenture Trustee, at the direction of the Servicer, shall
transfer an amount equal to the Available Pre-Funding Period Reserve Amount from the Pre-Funding Period Reserve Account to the Finance Charge Account and such amount shall be treated as Available Finance Charge Collections for such Transfer Date.
The Pre-Funding Period Reserve Account shall thereafter be automatically terminated for purposes of this Indenture Supplement. 

ARTICLE V. 

Delivery of Series 2010-A Notes; Distributions; Reports to Series 2010-A Noteholders 

Section 5.1 Delivery and Payment for the Series 2010-A Notes. 

The Owner Trustee, on behalf of the Issuer, shall execute and issue, and the Indenture Trustee shall authenticate, the Series 2010-A
Notes in accordance with Section 2.3 of the 
  

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Indenture. The Indenture Trustee shall deliver the Series 2010-A Notes to or upon the written order of the Trust when so authenticated. 

Section 5.2 Distributions. 

(a) On each Distribution Date, the Indenture Trustee shall distribute to each Class A Noteholder of record on the related Record
Date (other than as provided in Section 11.2 of the Indenture) such Class A Noteholder’s pro rata share of the amounts on deposit in the Distribution Account that are allocated and available on such Distribution Date and
as are payable to the Class A Noteholders pursuant to this Indenture Supplement. 
 (b) On each Distribution Date, the
Indenture Trustee shall distribute to each Class M Noteholder of record on the related Record Date (other than as provided in Section 11.2 of the Indenture) such Class M Noteholder’s pro rata share of the amounts on deposit
in the Distribution Account that are allocated and available on such Distribution Date and as are payable to the Class M Noteholders pursuant to this Indenture Supplement. 

(c) On each Distribution Date, the Indenture Trustee shall distribute to each Class B Noteholder of record on the related Record Date
(other than as provided in Section 11.2 of the Indenture) such Class B Noteholder’s pro rata share of the amounts on deposit in the Distribution Account that are allocated and available on such Distribution Date and as are
payable to the Class B Noteholders pursuant to this Indenture Supplement. 
 (d) On each Distribution Date, the Indenture
Trustee shall distribute to each Class C Noteholder of record on the related Record Date (other than as provided in Section 11.2 of the Indenture) such Class C Noteholder’s pro rata share of the amounts on deposit in
the Distribution Account (including amounts withdrawn from the Spread Account (at the times and in the amounts specified in Section 4.12)) that are allocated and available on such Distribution Date and as are payable to the Class C
Noteholders pursuant to this Indenture Supplement. 
 (e) The distributions to be made pursuant to this Section 5.2
are subject to the provisions of Sections 2.6, 6.1 and 7.1 of the Transfer and Servicing Agreement, Section 11.2 of the Indenture and Section 7.1 of this Indenture Supplement. 

(f) Except as provided in Section 11.2 of the Indenture with respect to a final distribution, distributions to Series 2010-A
Noteholders hereunder shall be made by (i) check mailed to each Series 2010-A Noteholder (at such Noteholder’s address as it appears in the Note Register), except that for any Series 2010-A Notes registered in the name of the nominee of a
Clearing Agency, such distribution shall be made by wire transfer of immediately available funds and (ii) without presentation or surrender of any Series 2010-A Note or the making of any notation thereon. 

Section 5.3 Reports and Statements to Series 2010-A Noteholders. 

(a) On each Distribution Date, the Indenture Trustee shall forward to each Series 2010-A Noteholder a statement substantially in the form
of Exhibit C prepared by the Servicer; provided that the Servicer may amend the form of Exhibit C from time to time, with the prior written consent of the Indenture Trustee and with written notice to the Rating Agencies.

  

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 (b) Not later than the second Business Day preceding each Distribution Date, the Servicer
shall deliver to the Owner Trustee, the Indenture Trustee and each Rating Agency a statement substantially in the form of Exhibit B prepared by the Servicer; provided that the Servicer may amend the form of Exhibit B from
time to time, with the prior written consent of the Indenture Trustee. 
 (c) A copy of each statement or certificate provided
pursuant to paragraph (a) or (b) may be obtained by any Series 2010-A Noteholder by a request in writing to the Servicer. 

(d) On or before January 31 of each calendar year, beginning with January 31, 2011, the Indenture Trustee shall furnish or
cause to be furnished to each Person who at any time during the preceding calendar year was a Series 2010-A Noteholder, a statement prepared by the Servicer containing the information which is required to be contained in the statement to Series
2010-A Noteholders, as set forth in paragraph (a) above, aggregated for such calendar year or the applicable portion thereof during which such Person was a Series 2010-A Noteholder, together with other information as is required to be
provided by an issuer of indebtedness under the Code. Such obligation of the Indenture Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer pursuant to any
requirements of the Code as from time to time in effect. 
 (e) Notwithstanding the terms of Section 3.6(b) of the
Transfer and Servicing Agreement, each Series 2010-A Noteholder agrees, by purchasing its Note, that the report referred to in that Section need not be delivered to the Indenture Trustee or any Rating Agency unless the Indenture Trustee or the
applicable Rating Agency agrees to execute a letter agreement relating to such report in form and substance satisfactory to the accountants delivering the report. 

ARTICLE VI. 

Series 2010-A Early Amortization Events 

Section 6.1 Series 2010-A Early Amortization Events. If any one of the following events shall occur with respect to the Series
2010-A Notes: 
 (a) failure on the part of Transferor or the “Transferor” under the Pooling and Servicing Agreement
(i) to make any payment or deposit required to be made by it by the terms of the Pooling and Servicing Agreement, the Collateral Series Supplement, the Transfer and Servicing Agreement, the Indenture or this Indenture Supplement on or before
the date occurring five (5) Business Days after the date such payment or deposit is required to be made therein or herein or (ii) duly to observe or perform in any material respect any other of its covenants or agreements set forth in the
Transfer and Servicing Agreement, the Pooling and Servicing Agreement, the Indenture or this Indenture Supplement, which failure has a material adverse effect on the Series 2010-A Noteholders and which continues unremedied for a period of sixty
(60) days after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the Transferor by the Indenture Trustee, or to the Transferor and the Indenture Trustee by any Holder of the Series
2010-A Notes; 
  

 39 

 (b) any representation or warranty made by Transferor or the “Transferor” under
the Pooling and Servicing Agreement, in the Transfer and Servicing Agreement or the Pooling and Servicing Agreement or any information contained in a computer file or microfiche list required to be delivered by it pursuant to Section 2.1
or Section 2.6(c) of the Transfer and Servicing Agreement or Section 2.1 or Section 2.6(c) of the Pooling and Servicing Agreement shall prove to have been incorrect in any material respect when made or when
delivered, which continues to be incorrect in any material respect for a period of sixty (60) days after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the Transferor by the
Indenture Trustee, or to the Transferor and the Indenture Trustee by any Holder of the Series 2010-A Notes and as a result of which the interests of the Series 2010-A Noteholders are materially and adversely affected for such period;
provided, however, that a Series 2010-A Early Amortization Event pursuant to this Section 6.1(b) shall not be deemed to have occurred hereunder if the Transferor has accepted reassignment of the related Receivable, or all
of such Receivables, if applicable, during such period in accordance with the provisions of the Transfer and Servicing Agreement or the Pooling and Servicing Agreement; 

(c) a failure by Transferor or the “Transferor” under the Pooling and Servicing Agreement to convey Receivables in Additional
Accounts or Participations to the Receivables Trust within five (5) Business Days after the day on which it is required to convey such Receivables pursuant to Section 2.6(b) of the Transfer and Servicing Agreement or
Section 2.8(b) of the Pooling and Servicing Agreement, respectively; provided, however, that a Series 2010-A Early Amortization Event pursuant to this Section 6.1(c) shall not be deemed to have occurred
hereunder if, prior to the date on which such conveyance was required to be completed, Transferor causes a reduction in the Collateral Amount of any Variable Interest to occur or a reduction in the “Invested Amount” or “Adjusted
Invested Amount” (as such terms are defined in the Pooling and Servicing Agreement) of any “Variable Interest” (as defined in the Pooling and Servicing Agreement) so that, after giving effect to that reduction (i) the Transferor
Amount is not less than the Minimum Transferor Amount and (ii) the sum of the aggregate amount of principal receivables plus amounts on deposit in the Excess Funding Account is not less than the Required Principal Balance; 

(d) any Servicer Default or any “Servicer Default” under the Pooling and Servicing Agreement shall occur and as a result of
which the interests of the Series 2010-A Noteholders are materially and adversely affected; 
 (e) the Portfolio Yield averaged
over any three consecutive Monthly Periods is less than the Base Rate averaged over such period; 
 (f) the Note Principal
Balance shall not be paid in full on the Expected Principal Payment Date; 
 (g) the Series 2008-A Notes shall not be paid in
full on the August 2010 Distribution Date; 
 (h) without limiting the foregoing, the occurrence of an Event of Default with
respect to Series 2010-A and acceleration of the maturity of the Series 2010-A Notes pursuant to Section 5.3 of the Indenture; or 
  

 40 

 (i) the occurrence of an Early Amortization Event as defined in the Pooling and Servicing
Agreement and specified in Section 9.1 of that Agreement; 
 then, in the case of any event described in Section (a),
(b) or (d), after the applicable grace period, if any, set forth in such subparagraphs, either the Indenture Trustee or the holders of Series 2010-A Notes evidencing more than 50% of the aggregate Outstanding Amount of Series
2010-A Notes (or, if 100% of the principal amount of the Series 2010-A Notes are held by the Transferor or any Affiliate of the Transferor, then the holders of Series 2010-A Notes evidencing more than 50% of the aggregate unpaid principal amount of
the Series 2010-A Notes) by notice then given in writing to the Transferor and the Servicer (and to the Indenture Trustee if given by the Series 2010-A Noteholders) may declare that a “Series Early Amortization Event” with respect to
Series 2010-A (a “Series 2010-A Early Amortization Event”) has occurred as of the date of such notice, and, in the case of any event described in Section (c), (e), (f), (g), (h) or
(i) a Series 2010-A Early Amortization Event shall occur without any notice or other action on the part of the Indenture Trustee or the Series 2010-A Noteholders immediately upon the occurrence of such event. 

ARTICLE VII. 

Redemption of Series 2010-A Notes; Final Distributions; Series Termination 

Section 7.1 Optional Redemption of Series 2010-A Notes; Final Distributions. 

(a) On any day occurring on or after the date on which the outstanding principal balance of the Series 2010-A Notes is reduced to 5% or
less of the initial outstanding principal balance of Series 2010-A Notes, the Servicer shall have the option to redeem the Series 2010-A Notes, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for
such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. 

(b) Servicer shall give the Indenture Trustee at least thirty (30) days prior written notice of the date on which Servicer intends
to exercise such optional redemption. Not later than 12:00 noon, New York City time, on such day Servicer shall deposit into the Collection Account in immediately available funds the excess of the Reassignment Amount over the amount, if any, on
deposit in the Principal Accumulation Account. Such redemption option is subject to payment in full of the Reassignment Amount. Following such deposit into the Collection Account in accordance with the foregoing, the Collateral Amount for Series
2010-A shall be reduced to zero and the Series 2010-A Noteholders shall have no further security interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section 7.1(d). 

(c) (i) The amount to be paid by the Transferor with respect to Series 2010-A in connection with a reassignment of Receivables to the
Transferor pursuant to Section 2.4(e) of the Transfer and Servicing Agreement shall equal the Reassignment Amount for the first Distribution Date following the Monthly Period in which the reassignment obligation arises under the Transfer
and Servicing Agreement. 
  

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 (ii) The amount to be paid by the Transferor with respect to Series 2010-A
in connection with a repurchase of the Notes pursuant to Section 7.1 of the Transfer and Servicing Agreement shall equal the Reassignment Amount for the Distribution Date of such repurchase. 

(d) With respect to (a) the Reassignment Amount deposited into the Distribution Account pursuant to Section 7.1 or
(b) the proceeds of any sale of Receivables pursuant to Section 5.5(a)(iii) of the Indenture with respect to Series 2010-A, the Indenture Trustee shall, in accordance with the written direction of the Servicer, not later than
12:00 noon, New York City time, on the related Distribution Date, make distributions of the following amounts (in the priority set forth below and, in each case, after giving effect to any deposits and distributions otherwise to be made on such
date) in immediately available funds: (i) (x) the Class A Note Principal Balance on such Distribution Date will be distributed to the Class A Noteholders and (y) an amount equal to the sum of (A) Class A Monthly
Interest for such Distribution Date, (B) any Class A Deficiency Amount for such Distribution Date and (C) the amount of Class A Additional Interest, if any, for such Distribution Date and any Class A Additional Interest
previously due but not distributed to the Class A Noteholders on any prior Distribution Date, will be distributed to the Class A Noteholders, (ii) (x) the Class M Note Principal Balance on such Distribution Date will be
distributed to the Class M Noteholders and (y) an amount equal to the sum of (A) Class M Monthly Interest for such Distribution Date, (B) any Class M Deficiency Amount for such Distribution Date and (C) the amount of Class M
Additional Interest, if any, for such Distribution Date and any Class M Additional Interest previously due but not distributed to the Class M Noteholders on any prior Distribution Date, will be distributed to the Class M Noteholders, (iii) (x)
the Class B Note Principal Balance on such Distribution Date will be distributed to the Class B Noteholders and (y) an amount equal to the sum of (A) Class B Monthly Interest for such Distribution Date, (B) any Class B Deficiency
Amount for such Distribution Date and (C) the amount of Class B Additional Interest, if any, for such Distribution Date and any Class B Additional Interest previously due but not distributed to the Class B Noteholders on any prior Distribution
Date, will be distributed to the Class B Noteholders, (iv) (x) the Class C Note Principal Balance on such Distribution Date will be distributed to the Class C Noteholders and (y) an amount equal to the sum of (A) Class C Monthly
Interest for such Distribution Date, (B) any Class C Deficiency Amount for such Distribution Date, and (C) the amount of Class C Additional Interest, if any, for such Distribution Date and any Class C Additional Interest previously due but
not distributed to the Class C Noteholders on any prior Distribution Date will be distributed to the Class C Noteholders, and (v) any excess shall be released to the Issuer. 

Section 7.2 Series Termination. 

On the Series 2010-A Final Maturity Date, the unpaid principal amount of the Series 2010-A Notes shall be due and payable, and the right
of the Series 2010-A Noteholders to receive payments from the Issuer will be limited solely to the right to receive payments pursuant to Section 5.5 of the Indenture. 

 

 42 

 ARTICLE VIII.  

Miscellaneous Provisions 

Section 8.1 Ratification of Indenture; Amendments. As supplemented by this Indenture Supplement, the Indenture is in all respects
ratified and confirmed and the Indenture as so supplemented by this Indenture Supplement shall be read, taken and construed as one and the same instrument. This Indenture Supplement may be amended only by a Supplemental Indenture entered in
accordance with the terms of Section 10.1 or 10.2 of the Indenture. For purposes of the application of Section 10.2 to any amendment of this Indenture Supplement, the Series 2010-A Noteholders shall be the only
Noteholders whose vote shall be required. The Issuer hereby agrees to provide notice of any amendment to this Indenture Supplement to Moody’s within five (5) Business Days of execution thereof. 

Section 8.2 Form of Delivery of the Series 2010-A Notes. The Class A Notes, the Class M Notes and the Class B Notes shall be
Book-Entry Notes and shall be delivered as Registered Notes as provided in Sections 2.1 and 2.13 of the Indenture. The Class C Notes shall initially be Definitive Notes registered in the Note Register in the name of the
Transferor. Subject to satisfaction of the conditions specified in Section 8.8, if the Transferor desires to sell 100% of outstanding principal amount of the Class C Note to one or more purchasers, the Transferor may exchange the
corresponding Definitive Note for a Global Note in the form attached as Exhibit A-4-B, upon surrender of such Definitive Note to the Indenture Trustee; it being understood that the Transferor may not retain any portion of the Definitive Note
so exchanged for a Global Note upon a Transfer contemplated by this sentence. Such exchange shall not constitute an amendment of this Indenture Supplement. 

Section 8.3 Counterparts. This Indenture Supplement 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 shall constitute one and the same instrument. 

Section 8.4 GOVERNING LAW. THIS INDENTURE SUPPLEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK,
WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

Section 8.5 Limitation of Liability. Notwithstanding any other provision herein or elsewhere, this Agreement has been executed and
delivered by U.S. Bank Trust National Association, not in its individual capacity, but solely in its capacity as Owner Trustee of the Trust, in no event shall U.S. Bank Trust National Association in its individual capacity have any liability in
respect of the representations, warranties, or obligations of the Trust hereunder or under any other document, as to all of which recourse shall be had solely to the assets of the Trust, and for all purposes of this Agreement and each other
document, the Owner Trustee (as such or in its individual capacity) shall be subject to, and entitled to the benefits of, the terms and provisions of the Trust Agreement. 
  

 43 

 Section 8.6 Rights of the Indenture Trustee. The Indenture Trustee shall have herein
the same rights, protections, indemnities and immunities as specified in the Master Indenture. 
 Section 8.7 Additional
Provisions. (a) The Additional Minimum Transferor Amount is hereby specified as an additional amount to be considered part of the Minimum Transferor Amount pursuant to clause (b) of the definition of Minimum Transferor Amount.

 (b) Transferor shall not exercise its right to require reassignment to it or its designee of the Receivables in any Removed
Account or “Removed Account” (as defined in the Pooling and Servicing Agreement) pursuant to Section 2.7(a) of the Transfer and Servicing Agreement or Section 2.9(a) of the Pooling and Servicing Agreement more than
once during any Monthly Period; it being understood that this Section 8.7(b) shall not limit any right of the Transferor pursuant to Section 2.7(b) of the Transfer and Servicing Agreement or Section 2.9(b) of the
Pooling and Servicing Agreement. 
 (c) Transferor shall not exercise its discount option pursuant to Section 2.10
of the Pooling and Servicing Agreement or Section 2.8 of the Transfer and Servicing Agreement. 
 Section 8.8
Additional Requirements for Registration of and Limitations on Transfer and Exchange of Notes. 
 (a) All Transfers will
be subject to the transfer restrictions set forth on the Notes. 
 (b) No Transfer (or purported Transfer) of a Class C Note (or
economic interest therein) shall be made by WFN, the Transferor or any person which is considered the same person as WFN or the Transferor for U.S. Federal income tax purposes (except to a person which is considered the same person as WFN for such
purposes) and any such Transfer (or purported Transfer) of such Notes shall be void ab initio unless an Opinion of Counsel is first delivered to the Indenture Trustee to the effect that such Notes will constitute debt for U.S. federal income tax
purposes. 
 [SIGNATURE PAGE FOLLOWS] 
  

 44 

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

			
	 WORLD FINANCIAL NETWORK CREDIT

CARD MASTER NOTE TRUST, as Issuer

	
	 By:  U.S. Bank Trust National Association, not in

its individual capacity, but solely as Owner Trustee

		
	By:	 	/s/  Annette E. Morgan
		 	Name:  Annette E. Morgan
		 	Title:  Assistant Vice President

  

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Indenture Trustee
		
	By:	 	/s/  David H. Hill
		 	Name:  David H. Hill
		 	Title:  Vice President

 Acknowledged and
Accepted: 
  

			
	 WORLD FINANCIAL NETWORK

NATIONAL BANK,

as Servicer

		
	By:	 	/s/  Ronald C. Reed
		 	Name:  Ronald C. Reed
		 	Title:  Treasurer

  

			
	 WFN CREDIT COMPANY, LLC

as Transferor

		
	By:	 	/s/  Daniel T. Groomes
		 	Name:  Daniel T. Groomes
		 	Title:  President

  

 S-1 

 EXHIBIT A-1 

FORM OF CLASS A SERIES 2010-A 3.96% ASSET BACKED NOTE 

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE
TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN. 
 THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF COVENANTS AND AGREES THAT IT
WILL NOT AT ANY TIME INSTITUTE AGAINST WORLD FINANCIAL NETWORK CREDIT CARD MASTER TRUST, A COMMON LAW TRUST ORGANIZED UNDER THE LAWS OF NEW YORK (“WFNMT”), THE TRANSFEROR OR THE ISSUER, OR SOLICIT OR JOIN OR COOPERATE WITH OR ENCOURAGE OR
ENCOURAGE ANY INSTITUTION IN INSTITUTING AGAINST WFNMT, THE TRANSFEROR OR THE ISSUER, ANY BANKRUPTCY, REORGANIZATION, ARRANGEMENT, INSOLVENCY OR LIQUIDATION PROCEEDINGS, OR OTHER PROCEEDINGS UNDER ANY UNITED STATES FEDERAL OR STATE BANKRUPTCY OR
SIMILAR LAW IN CONNECTION WITH ANY OBLIGATION RELATING TO THE NOTES, THE INDENTURE OR ANY OF THE TRANSACTION DOCUMENTS. 
 THE
HOLDER OF THIS CLASS A NOTE, BY ACCEPTANCE OF THIS NOTE, AND EACH HOLDER OF A BENEFICIAL INTEREST THEREIN, AGREE TO TREAT THE CLASS A NOTES AS INDEBTEDNESS OF THE ISSUER FOR APPLICABLE FEDERAL, STATE, AND LOCAL INCOME AND FRANCHISE TAX LAW AND FOR
PURPOSES OF ANY OTHER TAX IMPOSED ON, OR MEASURED BY, INCOME. 
 BY YOUR ACQUISITION OF THIS NOTE OR ANY INTEREST HEREIN, YOU
SHALL BE DEEMED TO REPRESENT, COVENANT AND AGREE, FOR THE BENEFIT OF THE ISSUER, THE INDENTURE TRUSTEE, THE UNDERWRITERS, THE SERVICER, WORLD FINANCIAL NETWORK NATIONAL BANK AND THE TRANSFEROR, THAT EITHER (A) YOU ARE NOT A BENEFIT PLAN (AS
DEFINED BELOW) AND THAT YOU ARE NOT PURCHASING OR HOLDING SUCH NOTE OR ANY INTEREST HEREIN ON BEHALF OF, OR WITH THE ASSETS OF, A BENEFIT PLAN OR (B) YOUR PURCHASE, HOLDING AND DISPOSITION OF THIS NOTE OR INTEREST HEREIN WILL NOT RESULT IN A
NON-EXEMPT PROHIBITED TRANSACTION UNDER ERISA (AS DEFINED BELOW), SECTION 4975 OF THE CODE (AS DEFINED BELOW) OR ANY SUBSTANTIALLY SIMILAR APPLICABLE LAW. FOR THESE PURPOSES, A “BENEFIT PLAN” INCLUDES AN “EMPLOYEE BENEFIT PLAN”
(AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED 
  

 Exhibit A-1 (Page 1) 

 
(“ERISA”)) THAT IS SUBJECT TO THE FIDUCIARY RESPONSIBILITY OR PROHIBITED TRANSACTION PROVISIONS OF ERISA, A “PLAN” (AS DEFINED IN SECTION 4975(e)(1) OF THE INTERNAL REVENUE
CODE OF 1986, AS AMENDED (THE “CODE”)) THAT IS SUBJECT TO SECTION 4975 OF THE CODE, ANY ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” BY REASON OF SUCH EMPLOYEE BENEFIT PLAN’S OR PLAN’S INVESTMENT IN THE
ENTITY OR ANY OTHER PLAN THAT IS SUBJECT TO ANY LAW SUBSTANTIALLY SIMILAR TO THE FIDUCIARY RESPONSIBILITY OR PROHIBITED TRANSACTION SECTIONS OF ERISA OR SECTION 4975 OF THE CODE. 

 

 Exhibit A-1 (Page 2) 

			
	REGISTERED	 	$[                    ]
		 	CUSIP NO. [                    ]

No. R-                      

WORLD FINANCIAL NETWORK CREDIT CARD 

MASTER NOTE TRUST SERIES 2010-A 

CLASS A SERIES 2010-A 3.96% ASSET BACKED NOTE 

World Financial Network Credit Card Master Note Trust (herein referred to as the “Issuer” or the “Trust”), a Delaware
statutory trust governed by an Amended and Restated Trust Agreement dated as of August 1, 2001 (as amended and supplemented), for value received, hereby promises to pay to Cede & Co., or registered assigns, subject to the following
provisions, the principal sum of                      DOLLARS, or such greater or lesser amount as determined in accordance with the Indenture, on
the April 2019 Distribution Date, except as otherwise provided below or in the Indenture. The Issuer will pay interest on the unpaid principal amount of this Note at the Class A Note Interest Rate on each Distribution Date until the principal
amount of this Note is paid in full. Interest on this Note will accrue for each Distribution Date from and including the most recent Distribution Date on which interest has been paid to but excluding such Distribution Date or, for the initial
Distribution Date, from and including the Closing Date to but excluding such Distribution Date. Interest will be computed on the basis of a 360-day year of twelve 30-day months. Principal of this Note shall be paid in the manner specified in the
Indenture Supplement referred to on the reverse hereof. 
 The principal of and interest on this Note are payable in such coin
or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. 

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

 

 Exhibit A-1 (Page 3) 

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

  

			
	 WORLD FINANCIAL NETWORK CREDIT CARD MASTER NOTE TRUST,

as Issuer

	
	By: U.S. Bank Trust National Association, not in its individual capacity but solely as Owner Trustee under the Trust Agreement
		
	By:	 	 
	 Name:
 Title:
	 	

 Dated:
                    , 2010 
  

 Exhibit A-1 (Page 4) 

 INDENTURE TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

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

 

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Indenture Trustee
		
	By:	 	 
		 	Authorized Signatory

			
		
	Dated:	 	 

  

 Exhibit A-1 (Page 5) 

 WORLD FINANCIAL NETWORK CREDIT CARD 

MASTER NOTE TRUST SERIES 2010-A 

CLASS A SERIES 2010-A 3.96% ASSET BACKED NOTE 

Summary of Terms and Conditions 

This Class A Note is one of a duly authorized issue of Notes of the Issuer, designated as World Financial Network Credit Card Master
Note Trust, Series 2010-A (the “Series 2010-A Notes”), issued under a Master Indenture dated as of August 1, 2001 (as amended and supplemented, the “Master Indenture”), between the Issuer and The Bank of New York Mellon
Trust Company, N.A., as indenture trustee (the “Indenture Trustee”), as supplemented by the Indenture Supplement dated as of July 8, 2010 (the “Indenture Supplement”), and representing the right to receive certain payments
from the Issuer. The term “Indenture,” unless the context otherwise requires, refers to the Master Indenture as supplemented by the Indenture Supplement. The Notes are subject to all of the terms of the Indenture. All terms used in this
Note that are defined in the Indenture shall have the meanings assigned to them in or pursuant to the Indenture. In the event of any conflict or inconsistency between the Indenture and this Note, the Indenture shall control. 

The Class B Notes, the Class M Notes and the Class C Notes will also be issued under the Indenture. 

The Noteholder, by its acceptance of this Note, agrees that it will look solely to the property of the Issuer allocated to the payment of
this Note for payment hereunder and that neither the Owner Trustee nor the Indenture Trustee is liable to the Noteholders for any amount payable under the Notes or the Indenture or, except in the case of the Indenture Trustee as expressly provided
in the Indenture, subject to any liability under the Indenture. 
 This Note does not purport to summarize the Indenture and
reference is made to the Indenture for the interests, rights and limitations of rights, benefits, obligations and duties evidenced thereby, and the rights, duties and immunities of the Indenture Trustee. 

THIS CLASS A NOTE DOES NOT REPRESENT AN OBLIGATION OF, OR AN INTEREST IN, WORLD FINANCIAL NETWORK NATIONAL BANK, WFN CREDIT COMPANY, LLC,
OR ANY OF THEIR AFFILIATES, AND IS NOT INSURED OR GUARANTEED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENTAL AGENCY OR INSTRUMENTALITY. 

The Issuer, the Transferor, the Indenture Trustee and any agent of the Issuer, the Transferor or the Indenture Trustee shall treat the
person in whose name this Class A Note is registered as the owner hereof for all purposes, and neither the Issuer, the Transferor, the Indenture Trustee nor any agent of the Issuer, the Transferor or the Indenture Trustee shall be affected by
notice to the contrary. 
 THIS CLASS A NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT
REFERENCE TO ITS CONFLICT OF 
  

 Exhibit A-1 (Page 6) 

 
LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

 

 Exhibit A-1 (Page 7) 

 ASSIGNMENT 

Social Security or other identifying number of assignee 

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
                                         (name
and address of assignee) the within certificate and all rights thereunder, and hereby irrevocably constitutes and appoints
                                        
attorney, to transfer said certificate on the books kept for registration thereof, with full power of substitution in the premises. 
  

									
					
	Dated:	 		 		 	 	 	**
		 		 		 	Signature Guaranteed:	 	

  

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

 Exhibit A-1 (Page 8) 

 EXHIBIT A-2 

FORM OF CLASS M SERIES 2010-A 5.20% ASSET BACKED NOTE 

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE
TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN. 
 THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF COVENANTS AND AGREES THAT IT
WILL NOT AT ANY TIME INSTITUTE AGAINST WORLD FINANCIAL NETWORK CREDIT CARD MASTER TRUST, A COMMON LAW TRUST ORGANIZED UNDER THE LAWS OF NEW YORK (“WFNMT”), THE TRANSFEROR OR THE ISSUER, OR SOLICIT OR JOIN OR COOPERATE WITH OR ENCOURAGE OR
ENCOURAGE ANY INSTITUTION IN INSTITUTING AGAINST WFNMT, THE TRANSFEROR OR THE ISSUER, ANY BANKRUPTCY, REORGANIZATION, ARRANGEMENT, INSOLVENCY OR LIQUIDATION PROCEEDINGS, OR OTHER PROCEEDINGS UNDER ANY UNITED STATES FEDERAL OR STATE BANKRUPTCY OR
SIMILAR LAW IN CONNECTION WITH ANY OBLIGATION RELATING TO THE NOTES, THE INDENTURE OR ANY OF THE TRANSACTION DOCUMENTS. 
 THE
HOLDER OF THIS CLASS M NOTE, BY ACCEPTANCE OF THIS NOTE, AND EACH HOLDER OF A BENEFICIAL INTEREST THEREIN, AGREE TO TREAT THE CLASS M NOTES AS INDEBTEDNESS OF THE ISSUER FOR APPLICABLE FEDERAL, STATE, AND LOCAL INCOME AND FRANCHISE TAX LAW AND FOR
PURPOSES OF ANY OTHER TAX IMPOSED ON, OR MEASURED BY, INCOME. 
 BY YOUR ACQUISITION OF THIS NOTE OR ANY INTEREST HEREIN, YOU
SHALL BE DEEMED TO REPRESENT, COVENANT AND AGREE, FOR THE BENEFIT OF THE ISSUER, THE INDENTURE TRUSTEE, THE UNDERWRITERS, THE SERVICER, WORLD FINANCIAL NETWORK NATIONAL BANK AND THE TRANSFEROR, THAT EITHER (A) YOU ARE NOT A BENEFIT PLAN (AS
DEFINED BELOW) AND THAT YOU ARE NOT PURCHASING OR HOLDING SUCH NOTE OR ANY INTEREST HEREIN ON BEHALF OF, OR WITH THE ASSETS OF, A BENEFIT PLAN OR (B) YOUR PURCHASE, HOLDING AND DISPOSITION OF THIS NOTE OR INTEREST HEREIN WILL NOT RESULT IN A
NON-EXEMPT PROHIBITED TRANSACTION UNDER ERISA (AS DEFINED BELOW), SECTION 4975 OF THE CODE (AS DEFINED BELOW) OR ANY SUBSTANTIALLY SIMILAR APPLICABLE LAW. FOR THESE PURPOSES, A “BENEFIT PLAN” INCLUDES AN “EMPLOYEE BENEFIT PLAN”
(AS DEFINED IN SECTION 3(3) 
  

 Exhibit A-2 (Page 1) 

 
OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”)) THAT IS SUBJECT TO THE FIDUCIARY RESPONSIBILITY OR PROHIBITED TRANSACTION PROVISIONS OF ERISA, A
“PLAN” (AS DEFINED IN SECTION 4975(e)(1) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”)) THAT IS SUBJECT TO SECTION 4975 OF THE CODE, ANY ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” BY
REASON OF SUCH EMPLOYEE BENEFIT PLAN’S OR PLAN’S INVESTMENT IN THE ENTITY OR ANY OTHER PLAN THAT IS SUBJECT TO ANY LAW SUBSTANTIALLY SIMILAR TO THE FIDUCIARY RESPONSIBILITY OR PROHIBITED TRANSACTION SECTIONS OF ERISA OR SECTION 4975 OF THE
CODE. 
  

 Exhibit A-2 (Page 2) 

			
	REGISTERED	  	$[            ]
	No. R-            	  	CUSIP No. [            ]

WORLD FINANCIAL NETWORK CREDIT CARD 

MASTER NOTE TRUST SERIES 2010-A 

CLASS M SERIES 2010-A 5.20% ASSET BACKED NOTE 

World Financial Network Credit Card Master Note Trust (herein referred to as the “Issuer” or the “Trust”), a Delaware
statutory trust governed by an Amended and Restated Trust Agreement dated as of August 1, 2001 (as amended and supplemented), for value received, hereby promises to pay to Cede & Co, or registered assigns, subject to the following
provisions, the principal sum of              DOLLARS, or such greater or lesser amount as determined in accordance with the Indenture, on the April 2019 Distribution Date, except as
otherwise provided below or in the Indenture. The Issuer will pay interest on the unpaid principal amount of this Note at the Class M Note Interest Rate on each Distribution Date until the principal amount of this Note is paid in full. Interest on
this Note will accrue for each Distribution Date from and including the most recent Distribution Date on which interest has been paid to but excluding such Distribution Date or, for the initial Distribution Date, from and including the Closing Date
to but excluding such Distribution Date. Interest will be computed on the basis of a 360-day year of twelve 30-day months. Principal of this Note shall be paid in the manner specified in the Indenture Supplement referred to on the reverse hereof.

 The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the
time of payment is legal tender for payment of public and private debts. 
 Reference is made to the further provisions of this
Note set forth on the reverse hereof, which shall have the same effect as though fully set forth on the face of this Note. 

Unless the certificate of authentication hereon has been executed by or on behalf of the Indenture Trustee, by manual signature, this
Note shall not be entitled to any benefit under the Indenture or the Indenture Supplement referred to on the reverse hereof, or be valid for any purpose. 

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

 Exhibit A-2 (Page 3) 

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

WORLD FINANCIAL NETWORK CREDIT 

CARD MASTER NOTE TRUST, 

as Issuer 

By:  U.S. Bank Trust National Association, not in 

its individual capacity but solely as Owner Trustee 

under the Trust Agreement 

By:                   
                                         
                                         
                                   

Name: 

Title: 

Dated:                     , 2010 

 

 Exhibit A-2 (Page 4) 

 INDENTURE TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

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

THE BANK OF NEW YORK MELLON TRUST 

COMPANY, N.A., 

as Indenture Trustee 

By:                   
                                         
                                         
                                   

Authorized Signatory 

Dated:                  
                                         
                                         
                              

 

 Exhibit A-2 (Page 5) 

 WORLD FINANCIAL NETWORK CREDIT CARD 

MASTER NOTE TRUST SERIES 2010-A 

CLASS M SERIES 2010-A 5.20% ASSET BACKED NOTE 

Summary of Terms and Conditions 

This Class M Note is one of a duly authorized issue of Notes of the Issuer, designated as World Financial Network Credit Card Master Note
Trust, Series 2010-A (the “Series 2010-A Notes”), issued under a Master Indenture dated as of August 1, 2001 (as amended and supplemented, the “Master Indenture”), between the Issuer and The Bank of New York Mellon Trust
Company, N.A., as indenture trustee (the “Indenture Trustee”), as supplemented by the Indenture Supplement dated as of July 8, 2010 (the “Indenture Supplement”), and representing the right to receive certain payments from
the Issuer. The term “Indenture,” unless the context otherwise requires, refers to the Master Indenture as supplemented by the Indenture Supplement. The Notes are subject to all of the terms of the Indenture. All terms used in this Note
that are defined in the Indenture shall have the meanings assigned to them in or pursuant to the Indenture. In the event of any conflict or inconsistency between the Indenture and this Note, the Indenture shall control. 

The Class A Notes, the Class B Notes and the Class C Notes will also be issued under the Indenture. 

Payments of principal and interest on the Class M Notes are subordinated to payments of principal and interest on the Class A Notes
pursuant to and in accordance with the Indenture. 
 The Noteholder, by its acceptance of this Note, agrees that it will look
solely to the property of the Issuer allocated to the payment of this Note for payment hereunder and that neither the Owner Trustee nor the Indenture Trustee is liable to the Noteholders for any amount payable under the Notes or the Indenture or,
except in the case of the Indenture Trustee as expressly provided in the Indenture, subject to any liability under the Indenture. 

This Note does not purport to summarize the Indenture and reference is made to the Indenture for the interests, rights and limitations of
rights, benefits, obligations and duties evidenced thereby, and the rights, duties and immunities of the Indenture Trustee. 

THIS CLASS M NOTE DOES NOT REPRESENT AN OBLIGATION OF, OR AN INTEREST IN, WORLD FINANCIAL NETWORK NATIONAL BANK, WFN CREDIT COMPANY, LLC,
OR ANY OF THEIR AFFILIATES, AND IS NOT INSURED OR GUARANTEED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENTAL AGENCY OR INSTRUMENTALITY. 

The Issuer, the Transferor, the Indenture Trustee and any agent of the Issuer, the Transferor or the Indenture Trustee shall treat the
person in whose name this Class M Note is registered as the owner hereof for all purposes, and neither the Issuer, the Transferor, the Indenture Trustee nor any agent of the Issuer, the Transferor or the Indenture Trustee shall be affected by notice
to the contrary. 
  

 Exhibit A-2 (Page 6) 

 THIS CLASS M NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK,
WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
  

 Exhibit A-2 (Page 7) 

 ASSIGNMENT 

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

	 Dated:
                    ,         
	                                
                                         
   ** 

 Signature Guaranteed: 

 
  

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

 Exhibit A-2 (Page 8) 

 EXHIBIT A-3 

FORM OF CLASS B SERIES 2010-A 6.75% ASSET BACKED NOTE 

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE
TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN. 
 THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF COVENANTS AND AGREES THAT IT
WILL NOT AT ANY TIME INSTITUTE AGAINST WORLD FINANCIAL NETWORK CREDIT CARD MASTER TRUST, A COMMON LAW TRUST ORGANIZED UNDER THE LAWS OF NEW YORK (“WFNMT”), THE TRANSFEROR OR THE ISSUER, OR SOLICIT OR JOIN OR COOPERATE WITH OR ENCOURAGE OR
ENCOURAGE ANY INSTITUTION IN INSTITUTING AGAINST WFNMT, THE TRANSFEROR OR THE ISSUER, ANY BANKRUPTCY, REORGANIZATION, ARRANGEMENT, INSOLVENCY OR LIQUIDATION PROCEEDINGS, OR OTHER PROCEEDINGS UNDER ANY UNITED STATES FEDERAL OR STATE BANKRUPTCY OR
SIMILAR LAW IN CONNECTION WITH ANY OBLIGATION RELATING TO THE NOTES, THE INDENTURE OR ANY OF THE TRANSACTION DOCUMENTS. 
 THE
HOLDER OF THIS CLASS B NOTE, BY ACCEPTANCE OF THIS NOTE, AND EACH HOLDER OF A BENEFICIAL INTEREST THEREIN, AGREE TO TREAT THE CLASS B NOTES AS INDEBTEDNESS OF THE ISSUER FOR APPLICABLE FEDERAL, STATE, AND LOCAL INCOME AND FRANCHISE TAX LAW AND FOR
PURPOSES OF ANY OTHER TAX IMPOSED ON, OR MEASURED BY, INCOME. 
 BY YOUR ACQUISITION OF THIS NOTE OR ANY INTEREST HEREIN, YOU
SHALL BE DEEMED TO REPRESENT, COVENANT AND AGREE, FOR THE BENEFIT OF THE ISSUER, THE INDENTURE TRUSTEE, THE UNDERWRITERS, THE SERVICER, WORLD FINANCIAL NETWORK NATIONAL BANK AND THE TRANSFEROR, THAT EITHER (A) YOU ARE NOT A BENEFIT PLAN (AS
DEFINED BELOW) AND THAT YOU ARE NOT PURCHASING OR HOLDING SUCH NOTE OR ANY INTEREST HEREIN ON BEHALF OF, OR WITH THE ASSETS OF, A BENEFIT PLAN OR (B) YOUR PURCHASE, HOLDING AND DISPOSITION OF THIS NOTE OR INTEREST HEREIN WILL NOT RESULT IN A
NON-EXEMPT PROHIBITED TRANSACTION UNDER ERISA (AS DEFINED BELOW), SECTION 4975 OF THE CODE (AS DEFINED BELOW) OR ANY SUBSTANTIALLY SIMILAR APPLICABLE LAW. FOR THESE PURPOSES, A “BENEFIT PLAN” INCLUDES AN “EMPLOYEE BENEFIT PLAN”
(AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”)) THAT IS SUBJECT TO THE FIDUCIARY RESPONSIBILITY OR PROHIBITED 

 

 Exhibit A-3 (Page 1) 

 
TRANSACTION PROVISIONS OF ERISA, A “PLAN” (AS DEFINED IN SECTION 4975(e)(1) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”)) THAT IS SUBJECT TO SECTION 4975
OF THE CODE, ANY ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” BY REASON OF SUCH EMPLOYEE BENEFIT PLAN’S OR PLAN’S INVESTMENT IN THE ENTITY OR ANY OTHER PLAN THAT IS SUBJECT TO ANY LAW SUBSTANTIALLY SIMILAR TO THE
FIDUCIARY RESPONSIBILITY OR PROHIBITED TRANSACTION SECTIONS OF ERISA OR SECTION 4975 OF THE CODE. 
  

 Exhibit A-3 (Page 2) 

			
	REGISTERED	  	$[            ]
	No. R-            	  	CUSIP No. [            ]

WORLD FINANCIAL NETWORK CREDIT CARD 

MASTER NOTE TRUST SERIES 2010-A 

CLASS B SERIES 2010-A 6.75% ASSET BACKED NOTE 

World Financial Network Credit Card Master Note Trust (herein referred to as the “Issuer” or the “Trust”), a Delaware
statutory trust governed by an Amended and Restated Trust Agreement dated as of August 1, 2001 (as amended and supplemented), for value received, hereby promises to pay to Cede & Co, or registered assigns, subject to the following
provisions, the principal sum of                     DOLLARS, or such greater or lesser amount as determined in accordance with the Indenture, on the
April 2019 Distribution Date, except as otherwise provided below or in the Indenture. The Issuer will pay interest on the unpaid principal amount of this Note at the Class B Note Interest Rate on each Distribution Date until the principal amount of
this Note is paid in full. Interest on this Note will accrue for each Distribution Date from and including the most recent Distribution Date on which interest has been paid to but excluding such Distribution Date or, for the initial Distribution
Date, from and including the Closing Date to but excluding such Distribution Date. Interest will be computed on the basis of a 360-day year of twelve 30-day months. Principal of this Note shall be paid in the manner specified in the Indenture
Supplement referred to on the reverse hereof. 
 The principal of and interest on this Note are payable in such coin or currency
of the United States of America as at the time of payment is legal tender for payment of public and private debts. 
 Reference
is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same effect as though fully set forth on the face of this Note. 

Unless the certificate of authentication hereon has been executed by or on behalf of the Indenture Trustee, by manual signature, this
Note shall not be entitled to any benefit under the Indenture or the Indenture Supplement referred to on the reverse hereof, or be valid for any purpose. 

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

 Exhibit A-3 (Page 3) 

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

WORLD FINANCIAL NETWORK CREDIT 

CARD MASTER NOTE TRUST, 

as Issuer 

By:  U.S. Bank Trust National Association, not in 

its individual capacity but solely as Owner Trustee 

under the Trust Agreement 

By:                   
                                         
                                         
                                   

Name: 

Title: 

Dated:                     , 2010 

 

 Exhibit A-3 (Page 4) 

 INDENTURE TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

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

THE BANK OF NEW YORK MELLON TRUST 

COMPANY, N.A., 

as Indenture Trustee 

By:                   
                                         
                                         
                                   

Authorized Signatory 

Dated:                  
                                         
                                         
                              

 

 Exhibit A-3 (Page 5) 

 WORLD FINANCIAL NETWORK CREDIT CARD 

MASTER NOTE TRUST SERIES 2010-A 

CLASS B SERIES 2010-A 6.75% ASSET BACKED NOTE 

Summary of Terms and Conditions 

This Class B Note is one of a duly authorized issue of Notes of the Issuer, designated as World Financial Network Credit Card Master Note
Trust, Series 2010-A (the “Series 2010-A Notes”), issued under a Master Indenture dated as of August 1, 2001 (as amended and supplemented, the “Master Indenture”), between the Issuer and The Bank of New York Mellon Trust
Company, N.A., as indenture trustee (the “Indenture Trustee”), as supplemented by the Indenture Supplement dated as of July 8, 2010 (the “Indenture Supplement”), and representing the right to receive certain payments from
the Issuer. The term “Indenture,” unless the context otherwise requires, refers to the Master Indenture as supplemented by the Indenture Supplement. The Notes are subject to all of the terms of the Indenture. All terms used in this Note
that are defined in the Indenture shall have the meanings assigned to them in or pursuant to the Indenture. In the event of any conflict or inconsistency between the Indenture and this Note, the Indenture shall control. 

The Class A Notes, the Class M Notes and the Class C Notes will also be issued under the Indenture. 

Payments of principal and interest on the Class B Notes are subordinated to payments of principal and interest on the Class A Notes
and the Class M Notes pursuant to and in accordance with the Indenture. 
 The Noteholder, by its acceptance of this Note,
agrees that it will look solely to the property of the Issuer allocated to the payment of this Note for payment hereunder and that neither the Owner Trustee nor the Indenture Trustee is liable to the Noteholders for any amount payable under the
Notes or the Indenture or, except in the case of the Indenture Trustee as expressly provided in the Indenture, subject to any liability under the Indenture. 

This Note does not purport to summarize the Indenture and reference is made to the Indenture for the interests, rights and limitations of
rights, benefits, obligations and duties evidenced thereby, and the rights, duties and immunities of the Indenture Trustee. 

THIS CLASS B NOTE DOES NOT REPRESENT AN OBLIGATION OF, OR AN INTEREST IN, WORLD FINANCIAL NETWORK NATIONAL BANK, WFN CREDIT COMPANY, LLC,
OR ANY OF THEIR AFFILIATES, AND IS NOT INSURED OR GUARANTEED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENTAL AGENCY OR INSTRUMENTALITY. 

The Issuer, the Transferor, the Indenture Trustee and any agent of the Issuer, the Transferor or the Indenture Trustee shall treat the
person in whose name this Class B Note is registered as the owner hereof for all purposes, and neither the Issuer, the Transferor, the 

 

 Exhibit A-3 (Page 6) 

 
Indenture Trustee nor any agent of the Issuer, the Transferor or the Indenture Trustee shall be affected by notice to the contrary. 

THIS CLASS B NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW
PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
  

 Exhibit A-3 (Page 7) 

 ASSIGNMENT 

Social Security or other identifying number of assignee
                            . 

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
                                         
                    (name and address of assignee) the within certificate and all rights thereunder, and hereby irrevocably constitutes and
appoints                                        
                     attorney, to transfer said certificate on the books kept for registration thereof, with full power of substitution in the
premises. 
  

			
	Dated:
                                ,
                	 	                             
                                         
          **
		 	Signature Guaranteed:

  

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

 

 Exhibit A-3 (Page 8) 

 EXHIBIT A-4-A 

FORM OF DEFINITIVE CLASS C SERIES 2010-A 5.00% ASSET BACKED NOTE 

THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF COVENANTS AND AGREES THAT IT WILL NOT AT ANY TIME INSTITUTE AGAINST WORLD FINANCIAL
NETWORK CREDIT CARD MASTER TRUST, A COMMON LAW TRUST ORGANIZED UNDER THE LAWS OF NEW YORK (“WFNMT”), THE TRANSFEROR OR THE ISSUER, OR SOLICIT OR JOIN OR COOPERATE WITH OR ENCOURAGE OR ENCOURAGE ANY INSTITUTION IN INSTITUTING AGAINST WFNMT,
THE TRANSFEROR OR THE ISSUER, ANY BANKRUPTCY, REORGANIZATION, ARRANGEMENT, INSOLVENCY OR LIQUIDATION PROCEEDINGS, OR OTHER PROCEEDINGS UNDER ANY UNITED STATES FEDERAL OR STATE BANKRUPTCY OR SIMILAR LAW IN CONNECTION WITH ANY OBLIGATION RELATING TO
THE NOTES, THE INDENTURE OR ANY OF THE TRANSACTION DOCUMENTS. 
 THE HOLDER OF THIS CLASS C NOTE, BY ACCEPTANCE OF THIS NOTE,
AND EACH HOLDER OF A BENEFICIAL INTEREST THEREIN (IN EACH CASE OTHER THAN WORLD FINANCIAL NETWORK NATIONAL BANK OR A PERSON DISREGARDED AS AN ENTITY SEPARATE FROM WORLD FINANCIAL NETWORK NATIONAL BANK), AGREE TO TREAT THE CLASS C NOTES AS
INDEBTEDNESS OF THE ISSUER FOR APPLICABLE FEDERAL, STATE, AND LOCAL INCOME AND FRANCHISE TAX LAW AND FOR PURPOSES OF ANY OTHER TAX IMPOSED ON, OR MEASURED BY, INCOME. 

BY YOUR ACQUISITION OF THIS NOTE OR ANY INTEREST HEREIN, YOU SHALL BE DEEMED TO REPRESENT, COVENANT AND AGREE, FOR THE BENEFIT OF THE
ISSUER, THE INDENTURE TRUSTEE, THE SERVICER, WORLD FINANCIAL NETWORK NATIONAL BANK AND THE TRANSFEROR, THAT EITHER (A) YOU ARE NOT A BENEFIT PLAN (AS DEFINED BELOW) AND THAT YOU ARE NOT PURCHASING OR HOLDING SUCH NOTE OR ANY INTEREST HEREIN ON
BEHALF OF, OR WITH THE ASSETS OF, A BENEFIT PLAN OR (B) YOUR PURCHASE, HOLDING AND DISPOSITION OF THIS NOTE OR INTEREST HEREIN WILL NOT RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION UNDER ERISA (AS DEFINED BELOW), SECTION 4975 OF THE CODE (AS
DEFINED BELOW) OR ANY SUBSTANTIALLY SIMILAR APPLICABLE LAW. FOR THESE PURPOSES, A “BENEFIT PLAN” INCLUDES AN “EMPLOYEE BENEFIT PLAN” (AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
(“ERISA”)) THAT IS SUBJECT TO THE FIDUCIARY RESPONSIBILITY OR PROHIBITED TRANSACTION PROVISIONS OF ERISA, A “PLAN” (AS DEFINED IN SECTION 4975(e)(1) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”)) THAT IS
SUBJECT TO SECTION 4975 OF THE CODE, ANY ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” BY REASON OF SUCH EMPLOYEE BENEFIT PLAN’S OR PLAN’S INVESTMENT IN THE ENTITY OR ANY OTHER PLAN THAT IS SUBJECT TO ANY LAW
SUBSTANTIALLY SIMILAR TO THE FIDUCIARY 
  

 Exhibit A-4-A (Page 1) 

 
RESPONSIBILITY OR PROHIBITED TRANSACTION SECTIONS OF ERISA OR SECTION 4975 OF THE CODE. 

TRANSFER OF THIS NOTE IS SUBJECT TO RESTRICTIONS AS PROVIDED IN THE INDENTURE SUPPLEMENT. 

 

 Exhibit A-4-A (Page 2) 

			
	REGISTERED	 	$[                    ]
	No. R-                     	 	CUSIP No. [                    ]

WORLD FINANCIAL NETWORK CREDIT CARD 

MASTER NOTE TRUST SERIES 2010-A 

CLASS C SERIES 2010-A 5.00% ASSET BACKED NOTE 

World Financial Network Credit Card Master Note Trust (herein referred to as the “Issuer” or the “Trust”), a Delaware
statutory trust governed by an Amended and Restated Trust Agreement dated as of August 1, 2001 (as amended and supplemented), for value received, hereby promises to pay to , or registered assigns, subject to the following provisions, the
principal sum of                      DOLLARS, or such greater or lesser amount as determined in accordance with the Indenture, on the April 2019
Distribution Date, except as otherwise provided below or in the Indenture. The Issuer will pay interest on the unpaid principal amount of this Note at the Class C Note Interest Rate on each Distribution Date until the principal amount of this Note
is paid in full. Interest on this Note will accrue for each Distribution Date from and including the most recent Distribution Date on which interest has been paid to but excluding such Distribution Date or, for the initial Distribution Date, from
and including the Closing Date to but excluding such Distribution Date. Interest will be computed on the basis of a 360-day year of twelve 30-day months. Principal of this Note shall be paid in the manner specified in the Indenture Supplement
referred to on the reverse hereof. 
 The principal of and interest on this Note are payable in such coin or currency of the
United States of America as at the time of payment is legal tender for payment of public and private debts. 
 Reference is made
to the further provisions of this Note set forth on the reverse hereof, which shall have the same effect as though fully set forth on the face of this Note. 

Unless the certificate of authentication hereon has been executed by or on behalf of the Indenture Trustee, by manual signature, this
Note shall not be entitled to any benefit under the Indenture or the Indenture Supplement referred to on the reverse hereof, or be valid for any purpose. 

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

 Exhibit A-4-A (Page 3) 

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

 

			
	 WORLD FINANCIAL NETWORK CREDIT CARD MASTER NOTE TRUST,

as Issuer

	
	By: U.S. Bank Trust National Association, not in its individual capacity but solely as Owner Trustee under the Trust Agreement
		
	By:	 	 
	 Name:
 Title:
	 	

 Dated:
                                        , 2010

  

 Exhibit A-4-A (Page 4) 

	
	INDENTURE TRUSTEE’S CERTIFICATE OF AUTHENTICATION

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

 

			
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

as Indenture Trustee

		
	By:	 	 
		 	Authorized Signatory
		
	Dated:	 	 

  

 Exhibit A-4-A (Page 5) 

 WORLD FINANCIAL NETWORK CREDIT CARD 

MASTER NOTE TRUST SERIES 2010-A 

CLASS C SERIES 2010-A 5.00% ASSET BACKED NOTE 

Summary of Terms and Conditions 

This Class C Note is one of a duly authorized issue of Notes of the Issuer, designated as World Financial Network Credit Card Master Note
Trust, Series 2010-A (the “Series 2010-A Notes”), issued under a Master Indenture dated as of August 1, 2001 (as amended and supplemented, the “Master Indenture”), between the Issuer and The Bank of New York Mellon Trust
Company, N.A., as indenture trustee (the “Indenture Trustee”), as supplemented by the Indenture Supplement dated as of July 8, 2010 (the “Indenture Supplement”), and representing the right to receive certain payments from
the Issuer. The term “Indenture,” unless the context otherwise requires, refers to the Master Indenture as supplemented by the Indenture Supplement. The Notes are subject to all of the terms of the Indenture. All terms used in this Note
that are defined in the Indenture shall have the meanings assigned to them in or pursuant to the Indenture. In the event of any conflict or inconsistency between the Indenture and this Note, the Indenture shall control. 

The Class A Notes, the Class M Notes and the Class B Notes will also be issued under the Indenture. Payments of principal and
interest on the Class C Notes are subordinated to payments of principal and interest on the Class A Notes, the Class M Notes and the Class B Notes pursuant to and in accordance with the Indenture. 

The Noteholder, by its acceptance of this Note, agrees that it will look solely to the property of the Issuer allocated to the payment of
this Note for payment hereunder and that neither the Owner Trustee nor the Indenture Trustee is liable to the Noteholders for any amount payable under the Notes or the Indenture or, except in the case of the Indenture Trustee as expressly provided
in the Indenture, subject to any liability under the Indenture. 
 This Note does not purport to summarize the Indenture and
reference is made to the Indenture for the interests, rights and limitations of rights, benefits, obligations and duties evidenced thereby, and the rights, duties and immunities of the Indenture Trustee. 

THIS CLASS C NOTE DOES NOT REPRESENT AN OBLIGATION OF, OR AN INTEREST IN, WORLD FINANCIAL NETWORK NATIONAL BANK, WFN CREDIT COMPANY, LLC,
OR ANY OF THEIR AFFILIATES, AND IS NOT INSURED OR GUARANTEED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENTAL AGENCY OR INSTRUMENTALITY. 

The Issuer, the Transferor, the Indenture Trustee and any agent of the Issuer, the Transferor or the Indenture Trustee shall treat the
person in whose name this Class C Note is registered as the owner hereof for all purposes, and neither the Issuer, the Transferor, the Indenture Trustee nor any agent of the Issuer, the Transferor or the Indenture Trustee shall be affected by notice
to the contrary. 
  

 Exhibit A-4-A (Page 6) 

 THIS CLASS C NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK,
WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
  

 Exhibit A-4-A (Page 7) 

 ASSIGNMENT 

Social Security or other identifying number of assignee
                                    . 

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers
unto                                 (name and address of assignee) the within
certificate and all rights thereunder, and hereby irrevocably constitutes and
appoints                             attorney, to transfer said certificate on the books kept for
registration thereof, with full power of substitution in the premises. 
  

			
	Dated:                             
                   ,            	 	                             
                                   **
		 	Signature Guaranteed:

  

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

 

 Exhibit A-4-A (Page 8) 

 EXHIBIT A-4-B 

FORM OF GLOBAL CLASS C SERIES 2010-A 5.00% ASSET BACKED NOTE 

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE
TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN. 
 THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF COVENANTS AND AGREES THAT IT
WILL NOT AT ANY TIME INSTITUTE AGAINST WORLD FINANCIAL NETWORK CREDIT CARD MASTER TRUST, A COMMON LAW TRUST ORGANIZED UNDER THE LAWS OF NEW YORK (“WFNMT”), THE TRANSFEROR OR THE ISSUER, OR SOLICIT OR JOIN OR COOPERATE WITH OR ENCOURAGE OR
ENCOURAGE ANY INSTITUTION IN INSTITUTING AGAINST WFNMT, THE TRANSFEROR OR THE ISSUER, ANY BANKRUPTCY, REORGANIZATION, ARRANGEMENT, INSOLVENCY OR LIQUIDATION PROCEEDINGS, OR OTHER PROCEEDINGS UNDER ANY UNITED STATES FEDERAL OR STATE BANKRUPTCY OR
SIMILAR LAW IN CONNECTION WITH ANY OBLIGATION RELATING TO THE NOTES, THE INDENTURE OR ANY OF THE TRANSACTION DOCUMENTS. 
 THE
HOLDER OF THIS CLASS C NOTE, BY ACCEPTANCE OF THIS NOTE, AND EACH HOLDER OF A BENEFICIAL INTEREST THEREIN, AGREE TO TREAT THE CLASS C NOTES AS INDEBTEDNESS OF THE ISSUER FOR APPLICABLE FEDERAL, STATE, AND LOCAL INCOME AND FRANCHISE TAX LAW AND FOR
PURPOSES OF ANY OTHER TAX IMPOSED ON, OR MEASURED BY, INCOME. 
 BY YOUR ACQUISITION OF THIS NOTE OR ANY INTEREST HEREIN, YOU
SHALL BE DEEMED TO REPRESENT, COVENANT AND AGREE, FOR THE BENEFIT OF THE ISSUER, THE INDENTURE TRUSTEE, THE UNDERWRITERS, THE SERVICER, WORLD FINANCIAL NETWORK NATIONAL BANK AND THE TRANSFEROR, THAT EITHER (A) YOU ARE NOT A BENEFIT PLAN (AS
DEFINED BELOW) AND THAT YOU ARE NOT PURCHASING OR HOLDING SUCH NOTE OR ANY INTEREST HEREIN ON BEHALF OF, OR WITH THE ASSETS OF, A BENEFIT PLAN OR (B) YOUR PURCHASE, HOLDING AND DISPOSITION OF THIS NOTE OR INTEREST HEREIN WILL NOT RESULT IN A
NON-EXEMPT PROHIBITED TRANSACTION UNDER ERISA (AS DEFINED BELOW), SECTION 4975 OF THE CODE (AS DEFINED BELOW) OR ANY SUBSTANTIALLY SIMILAR APPLICABLE LAW. FOR THESE PURPOSES, A “BENEFIT PLAN” INCLUDES AN “EMPLOYEE BENEFIT PLAN”
(AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”)) THAT IS SUBJECT TO THE FIDUCIARY RESPONSIBILITY OR PROHIBITED 

 

 Exhibit A-4-B (Page 1) 

 
TRANSACTION PROVISIONS OF ERISA, A “PLAN” (AS DEFINED IN SECTION 4975(e)(1) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”)) THAT IS SUBJECT TO SECTION 4975
OF THE CODE, ANY ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” BY REASON OF SUCH EMPLOYEE BENEFIT PLAN’S OR PLAN’S INVESTMENT IN THE ENTITY OR ANY OTHER PLAN THAT IS SUBJECT TO ANY LAW SUBSTANTIALLY SIMILAR TO THE
FIDUCIARY RESPONSIBILITY OR PROHIBITED TRANSACTION SECTIONS OF ERISA OR SECTION 4975 OF THE CODE. 
  

 Exhibit A-4-B (Page 2) 

			
	REGISTERED	 	$[                    ]
		 	CUSIP NO. [                    ]

No. R-                      

WORLD FINANCIAL NETWORK CREDIT CARD 

MASTER NOTE TRUST SERIES 2010-A 

CLASS C SERIES 2010-A 5.00% ASSET BACKED NOTE 

World Financial Network Credit Card Master Note Trust (herein referred to as the “Issuer” or the “Trust”), a Delaware
statutory trust governed by an Amended and Restated Trust Agreement dated as of August 1, 2001 (as amended and supplemented), for value received, hereby promises to pay to Cede & Co., or registered assigns, subject to the following
provisions, the principal sum of                      DOLLARS, or such greater or lesser amount as determined in accordance with the Indenture, on
the April 2019 Distribution Date, except as otherwise provided below or in the Indenture. The Issuer will pay interest on the unpaid principal amount of this Note at the Class C Note Interest Rate on each Distribution Date until the principal amount
of this Note is paid in full. Interest on this Note will accrue for each Distribution Date from and including the most recent Distribution Date on which interest has been paid to but excluding such Distribution Date or, for the initial Distribution
Date, from and including the Closing Date to but excluding such Distribution Date. Interest will be computed on the basis of a 360-day year of twelve 30-day months. Principal of this Note shall be paid in the manner specified in the Indenture
Supplement referred to on the reverse hereof. 
 The principal of and interest on this Note are payable in such coin or currency
of the United States of America as at the time of payment is legal tender for payment of public and private debts. 
 Reference
is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same effect as though fully set forth on the face of this Note. 

Unless the certificate of authentication hereon has been executed by or on behalf of the Indenture Trustee, by manual signature, this
Note shall not be entitled to any benefit under the Indenture or the Indenture Supplement referred to on the reverse hereof, or be valid for any purpose. 

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

 Exhibit A-4-B (Page 3) 

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

 

			
	 WORLD FINANCIAL NETWORK CREDIT CARD MASTER NOTE TRUST,

as Issuer

	
	By: U.S. Bank Trust National Association, not in its individual capacity but solely as Owner Trustee under the Trust Agreement
		
	By:	 	 
	 Name:
 Title:
	 	

 Dated:
                    , 2010 
  

 Exhibit A-4-B (Page 4) 

 INDENTURE TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

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

 

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Indenture Trustee
		
	By:	 	 
		 	                Authorized
Signatory

			
		
	Dated:	 	 

  

 Exhibit A-4-B (Page 5) 

 WORLD FINANCIAL NETWORK CREDIT CARD 

MASTER NOTE TRUST SERIES 2010-A 

CLASS C SERIES 2010-A 5.00% ASSET BACKED NOTE 

Summary of Terms and Conditions 

This Class C Note is one of a duly authorized issue of Notes of the Issuer, designated as World Financial Network Credit Card Master Note
Trust, Series 2010-A (the “Series 2010-A Notes”), issued under a Master Indenture dated as of August 1, 2001 (as amended and supplemented, the “Master Indenture”), between the Issuer and The Bank of New York Mellon Trust
Company, N.A., as indenture trustee (the “Indenture Trustee”), as supplemented by the Indenture Supplement dated as of July 8, 2010 (the “Indenture Supplement”), and representing the right to receive certain payments from
the Issuer. The term “Indenture,” unless the context otherwise requires, refers to the Master Indenture as supplemented by the Indenture Supplement. The Notes are subject to all of the terms of the Indenture. All terms used in this Note
that are defined in the Indenture shall have the meanings assigned to them in or pursuant to the Indenture. In the event of any conflict or inconsistency between the Indenture and this Note, the Indenture shall control. 

The Class A Notes, the Class M Notes and the Class B Notes will also be issued under the Indenture. Payments of principal and
interest on the Class C Notes are subordinated to payments of principal and interest on the Class A Notes, the Class M Notes and the Class B Notes pursuant to and in accordance with the Indenture. 

The Noteholder, by its acceptance of this Note, agrees that it will look solely to the property of the Issuer allocated to the payment of
this Note for payment hereunder and that neither the Owner Trustee nor the Indenture Trustee is liable to the Noteholders for any amount payable under the Notes or the Indenture or, except in the case of the Indenture Trustee as expressly provided
in the Indenture, subject to any liability under the Indenture. 
 This Note does not purport to summarize the Indenture and
reference is made to the Indenture for the interests, rights and limitations of rights, benefits, obligations and duties evidenced thereby, and the rights, duties and immunities of the Indenture Trustee. 

THIS CLASS C NOTE DOES NOT REPRESENT AN OBLIGATION OF, OR AN INTEREST IN, WORLD FINANCIAL NETWORK NATIONAL BANK, WFN CREDIT COMPANY, LLC,
OR ANY OF THEIR AFFILIATES, AND IS NOT INSURED OR GUARANTEED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENTAL AGENCY OR INSTRUMENTALITY. 

The Issuer, the Transferor, the Indenture Trustee and any agent of the Issuer, the Transferor or the Indenture Trustee shall treat the
person in whose name this Class C Note is registered as the owner hereof for all purposes, and neither the Issuer, the Transferor, the Indenture Trustee nor any agent of the Issuer, the Transferor or the Indenture Trustee shall be affected by notice
to the contrary. 
  

 Exhibit A-4-B (Page 6) 

 THIS CLASS C NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK,
WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
  

 Exhibit A-4-B (Page 7) 

 ASSIGNMENT 

Social Security or other identifying number of assignee 

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
                     (name and address of assignee) the within certificate and all rights thereunder, and hereby irrevocably constitutes and appoints
                         attorney, to transfer said certificate on the books kept for registration thereof, with full power of
substitution in the premises. 
  

			
	Dated:                             
                   ,            	 	                             
                                   **
		 	Signature Guaranteed:

  

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

 

 Exhibit A-4-B (Page 8) 

 EXHIBIT B 

FORM OF MONTHLY PAYMENT INSTRUCTIONS AND 

NOTIFICATION TO INDENTURE TRUSTEE 

WORLD FINANCIAL NETWORK NATIONAL BANK 

WORLD FINANCIAL NETWORK CREDIT CARD MASTER TRUST 

Series 2004-C, 2006-A, 2008-A, 2009-A, 2009-B, 2009-C, 2009-D and 2010-A 

MONTHLY PERIOD ENDING 

[                      
              ] 
 I. INSTRUCTIONS TO MAKE CERTAIN PAYMENTS 

 WFN, as Servicer does hereby instruct The Bank of New York Mellon Trust Company, N.A., as Indenture Trustee, to pay in
accordance with the Series 2004-C Indenture Supplement, dated as of September 22, 2004, the Series 2006-A Indenture Supplement, dated as of April 28, 2006, the Series 2008-A Indenture Supplement, dated as of September 12, 2008, the
Series 2009-A Indenture Supplement, dated as of April 14, 2009, the Series 2009-B Indenture Supplement, dated as of August 13, 2009, the Series 2009-C Indenture Supplement, dated as of August 13, 2009, the Series 2009-D Indenture
Supplement, dated as of August 13, 2009, and the Series 2010-A Indenture Supplement, dated as of July 8, 2010 [additional indenture supplements as applicable from time to time] (each, an “Indenture Supplement”) from the
Distribution Account (or other Series Account as specified below) on [ ] which date is a Transfer Date under each Indenture Supplement, amounts so deposited pursuant to each Indenture Supplement as set below. Defined terms used herein have the
meanings specified in the related Indenture Supplements. 
  

																			
	 	  	Series
2004-C	  	Series
2006-A	  	Series
2008-A	  	Series
2009-A	  	Series
2009-B	  	Series
2009-C	  	Series
2009-D	  	Series
2010-A	  	Total
	INTEREST PAYMENTS	  		  		  		  		  		  		  		  		  	
	 (From Distribution Accounts)
	  		  		  		  		  		  		  		  		  	
										
	 1.   Amount to be distributed to the Class A Noteholders
	  		  		  		  		  		  		  		  		  	
										
	 2.   Amount to be distributed to the Class M Noteholders
	  		  		  		  		  		  		  		  		  	
										
	 3.   Amount to be distributed to the Class B Noteholders
	  		  		  		  		  		  		  		  		  	
										
	 4.   Amount to be distributed to the Class C Noteholders
	  		  		  		  		  		  		  		  		  	
										
	 5.   Amount to be distributed to the Swap Provider
	  		  		  		  		  		  		  		  		  	

  

 Exhibit B (Page 1) 

																			
	 	  	Series
2004-C	  	Series
2006-A	  	Series
2008-A	  	Series
2009-A	  	Series
2009-B	  	Series
2009-C	  	Series
2009-D	  	Series
2010-A	  	Total
										
	 6.   Amount to be received from the Swap Provider
	  		  		  		  		  		  		  		  		  	
										
	 7.   Amount to be returned to WFN
	  		  		  		  		  		  		  		  		  	
										
	PRINCIPAL PAYMENTS	  		  		  		  		  		  		  		  		  	
	 (From Principal Accounts)
	  		  		  		  		  		  		  		  		  	
										
	 1.   Amount to be distributed to the Class A Noteholders
	  		  		  		  		  		  		  		  		  	
										
	 2.   Amount to be distributed to the Class M Noteholders
	  		  		  		  		  		  		  		  		  	
										
	 3.   Amount to be distributed to the Class B Noteholders
	  		  		  		  		  		  		  		  		  	
										
	 4.   Amount to be distributed to the Class C Noteholders
	  		  		  		  		  		  		  		  		  	
										
	TRANSFER OF INTEREST EARNINGS	  		  		  		  		  		  		  		  		  	
	(from Accounts below to Finance Charge Accounts)	  		  		  		  		  		  		  		  		  	
										
	 1.   Cash Collateral Account
	  		  		  		  		  		  		  		  		  	
										
	 2.   Spread Account
	  		  		  		  		  		  		  		  		  	
										
	 3.   Principal Accumulation Account
	  		  		  		  		  		  		  		  		  	
										
	 4.   Principal Account
	  		  		  		  		  		  		  		  		  	
										
	 5.   Reserve Account
	  		  		  		  		  		  		  		  		  	
										
	 6.   Pre-Funding Account
	  		  		  		  		  		  		  		  		  	

  

					
		 	World Financial Network National Bank, as Servicer
		 	 
		 	By:                            
                                         
     	 	 
		 	Name:                            
                                       
	 	 
		 	
Title:                       
                                         
      
  
	 	 

  

 Exhibit B (Page 2) 

 EXHIBIT C 

FORM OF MONTHLY NOTEHOLDERS’ STATEMENT 

MONTHLY NOTEHOLDER’S STATEMENT 

WORLD FINANCIAL NETWORK CREDIT CARD 

MASTER NOTE TRUST 

SERIES 2004-C, SERIES 2006-A, SERIES 2008-A, SERIES 2009-A, SERIES 2009-B, SERIES 

2009-C, SERIES 2009-D AND SERIES 2010-A 

Pursuant to the Master Indenture, dated as of August 1, 2001, (as amended and supplemented, the “Indenture”) between World Financial
Network Credit Card Master Note Trust (the “Issuer”) and The Bank of New York Mellon Trust Company, N.A., as indenture trustee (the “Indenture Trustee”), the Series 2004-C Indenture Supplement, dated as of September 22,
2004, the 2006-A Indenture Supplement, dated April 28, 2006, the 2008-A Indenture Supplement, dated as of September 12, 2008, the Series 2009-A Indenture Supplement, dated as of April 14, 2009, the Series 2009-B Indenture Supplement,
dated as of August 13, 2009, the Series 2009-C Indenture Supplement, dated as of August 13, 2009, the Series 2009-D Indenture Supplement, dated as of August 13, 2009 and the Series 2010-A Indenture Supplement, dated as of July 8,
2010 (each, an “Indenture Supplement”), World Financial Network National Bank, as Servicer (the “Servicer”) under the Transfer and Servicing Agreement, dated as of August 1, 2001 (as amended, the “Transfer and Servicing
Agreement”) between the Servicer, WFN Credit Company, LLC, as Transferor and the Issuer, is required to prepare certain information each month regarding current distributions to the Noteholders and the performance of the Trust during the
previous month. The information required to be prepared with respect to the Distribution Date of [         ], 20[         ], and with respect to the performance of the
Trust during the month of [         ], 20[         ] is set forth below. Capitalized terms herein are defined in the Indenture and the Indenture Supplements. 

 

					
		 	 Monthly Period:
	 	 
		 	 Determination Date:
	 	 
		 	 Distribution Date:
	 	 
		 	 Number of Days in Period:
	 	 
		 	 Number of Days in Month:
	 	 
		 	 Record Date:
	 	 

  

 
 I. DEAL PARAMETERS 

 

																	
	 	  	Series
2004-C	  	Series
2006-A	  	Series
2008-A	  	Series
2009-A	  	Series
2009-B	  	Series
2009-C	  	Series
2009-D	  	Series
2010-A
	 (a) Class A Initial Note Principal

Balance
	  		  		  		  		  		  		  		  	
	 (b) Class M Initial Note Principal

Balance
	  		  		  		  		  		  		  		  	
	 (c) Class B Initial Note Principal

Balance
	  		  		  		  		  		  		  		  	
	 (d) Class C Initial Note Principal

Balance
	  		  		  		  		  		  		  		  	
	 (e) Total Initial Note Principal

Balance
	  		  		  		  		  		  		  		  	
		  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 
	 (f) Class A Initial Note Principal

Balance %
	  		  		  		  		  		  		  		  	

  

 Exhibit C (Page 1) 

																	
	 	  	Series
2004-C	  	Series
2006-A	  	Series
2008-A	  	Series
2009-A	  	Series
2009-B	  	Series
2009-C	  	Series
2009-D	  	Series
2010-A
	 (g) Class M Initial Note Principal

Balance %
	  		  		  		  		  		  		  		  	
	 (h) Class B Initial Note Principal

Balance %
	  		  		  		  		  		  		  		  	
	 (i) Class C Initial Note Principal

Balance %
	  		  		  		  		  		  		  		  	
									
	 (j) Required Retained Transferor Percentage
	  		  		  		  		  		  		  		  	
	 (k) Additional Minimum Transferor

Percentage (2% Nov-Jan; 0%

otherwise)
	  		  		  		  		  		  		  		  	
									
	 (l) LIBOR rate as of most recent reset

day
	  		  		  		  		  		  		  		  	
									
	 (m) Class A Rate
	  		  		  		  		  		  		  		  	
	 (n) Class A Swap Rate, if applicable
	  		  		  		  		  		  		  		  	
									
	 (o) Class M Rate
	  		  		  		  		  		  		  		  	
	 (p) Class M Swap Rate, if applicable
	  		  		  		  		  		  		  		  	
									
	 (q) Class B Rate
	  		  		  		  		  		  		  		  	
	 (r) Class B Swap Rate, if applicable
	  		  		  		  		  		  		  		  	
									
	 (s) Class C Rate
	  		  		  		  		  		  		  		  	
	 (t) Class C Swap Rate, if applicable
	  		  		  		  		  		  		  		  	
									
	 (u) Servicing Fee Percentage
	  		  		  		  		  		  		  		  	

 II. COLLATERAL AMOUNTS AND ALLOCATION PERCENTAGES 

 

																	
	 	  	Series
2004-C	  	Series
2006-A	  	Series
2008-A	  	Series
2009-A	  	Series
2009-B	  	Series
2009-C	  	Series
2009-D	  	Series
2010-A
	 Monthly Period
	  		  		  		  		  		  		  		  	
									
	 (a) Initial Collateral Amount
	  		  		  		  		  		  		  		  	
									
	 (b) Principal Payments made to

Noteholders
	  		  		  		  		  		  		  		  	
	 (c) Principal Accumulation Account

Balance
	  		  		  		  		  		  		  		  	
	(d) Unreimbursed Investor Charge-offs
and Reallocated Principal Collections	  		  		  		  		  		  		  		  	
									
	 (e) Collateral Amount- End of Current

Monthly Period
	  		  		  		  		  		  		  		  	
									
	 (f) Beginning Class A Note Principal

Balance
	  		  		  		  		  		  		  		  	
	 (g) Beginning Class M Note Principal

Balance
	  		  		  		  		  		  		  		  	
	 (h) Beginning Class B Note Principal

Balance
	  		  		  		  		  		  		  		  	

  

 Exhibit C (Page 2) 

																	
	 	  	Series
2004-C	  	Series
2006-A	  	Series
2008-A	  	Series
2009-A	  	Series
2009-B	  	Series
2009-C	  	Series
2009-D	  	Series
2010-A
	 (i) Beginning Class C Note Principal

Balance
	  		  		  		  		  		  		  		  	
		  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 
	 (j) Total Beginning Note Principal

Balance
	  		  		  		  		  		  		  		  	
									
	 (k) Ending Class A Note Principal

Balance
	  		  		  		  		  		  		  		  	
	 (l) Ending Class M Note Principal

Balance
	  		  		  		  		  		  		  		  	
	 (m) Ending Class B Note Principal

Balance
	  		  		  		  		  		  		  		  	
	 (n) Ending Class C Note Principal

Balance
	  		  		  		  		  		  		  		  	
		  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 
	 (o) Total Ending Note Principal

Balance
	  		  		  		  		  		  		  		  	
									
	 (p) Allocation Percentage- Finance

Charges Collections and Default

Amounts
	  		  		  		  		  		  		  		  	
									
	 (q) Allocation Percentage- Principal

Collections
	  		  		  		  		  		  		  		  	

 III. RECEIVABLES IN THE TRUST 

 

																	
	 	  	Series
2004-C	  	Series
2006-A	  	Series
2008-A	  	Series
2009-A	  	Series
2009-B	  	Series
2009-C	  	Series
2009-D	  	Series
2010-A
	 (a) Beginning of the Month

Principal Receivables
	  		  		  		  		  		  		  		  	
									
	 (b) Collection of Principal

Receivables
	  		  		  		  		  		  		  		  	
	 (c) Defaulted Receivables

(principal charge-offs):
	  		  		  		  		  		  		  		  	
	 (d) Dilution (Principal net of

Debit Adjustments):
	  		  		  		  		  		  		  		  	
	 (e) Sales (principal receivables

generated):
	  		  		  		  		  		  		  		  	
	 (f) Net (Removal)/Addition of

Principal Receivables:
	  		  		  		  		  		  		  		  	
									
	 (g) End of Month Principal

Receivables (a - b - c - d + e + f)
	  		  		  		  		  		  		  		  	
									
	 (h) Recoveries of previously

Charged-off Receivables:
	  		  		  		  		  		  		  		  	
									
	 (i) Beginning of the Month

Finance Charge Receivables
	  		  		  		  		  		  		  		  	
	 (j) End of the Month Finance

Charge Receivables
	  		  		  		  		  		  		  		  	

  

 Exhibit C (Page 3) 

 IV. RECEIVABLES PERFORMANCE SUMMARY 

 

																	
	 	  	Series
2004-C	  	Series
2006-A	  	Series
2008-A	  	Series
2009-A	  	Series
2009-B	  	Series
2009-C	  	Series
2009-D	  	Series
2010-A
	 COLLECTIONS:
	  		  		  		  		  		  		  		  	
	 (a) Collections of Principal

Receivables
	  		  		  		  		  		  		  		  	
	 (b) Collections of Finance

Charge Receivables
	  		  		  		  		  		  		  		  	
	 (c) Total Collections (a+b).
	  		  		  		  		  		  		  		  	
	 (d) Monthly Payment Rate (%

of Beginning Total Receivables

Outstanding)
	  		  		  		  		  		  		  		  	
									
	 DELINQUENCIES AND

LOSSES:
	  	Series
2004-C	  	Series
2006-A	  	Series
2008-A	  	Series
2009-A	  	Series
2009-B	  	Series
2009-C	  	Series
2009-D	  	Series
2010-A
	 End of the month delinquencies:
	  		  		  		  		  		  		  		  	
	 (e) 1-30 days delinquent (CA1)
	  		  		  		  		  		  		  		  	
	 (f) 31-60 days delinquent (CA2)
	  		  		  		  		  		  		  		  	
	 (g) 61-90 days delinquent (CA3)
	  		  		  		  		  		  		  		  	
	 (h) 91-120 days delinquent

(CA4)
	  		  		  		  		  		  		  		  	
	 (i) 121-150 days delinquent

(CA5)
	  		  		  		  		  		  		  		  	
	 (j) 151+ days delinquent

(CA6)
	  		  		  		  		  		  		  		  	
									
	 (k) Total delinquencies (e +f + g

+ h + i + j)
	  		  		  		  		  		  		  		  	
									
	CHARGE-OFFS:	  		  		  		  		  		  		  		  	
	 (l) Defaulted Receivables

(principal charge-offs):
	  		  		  		  		  		  		  		  	
	 (m) Recoveries of previously

Charged-off Receivables
	  		  		  		  		  		  		  		  	
	 (n) Gross Principal Charge-Offs

(% of End of Month Total

Principal Receivables)

                   
                 (annualized)
	  		  		  		  		  		  		  		  	
	 (o) Net Principal Charge-Offs

(% of End of Month Total

Principal Receivables)

                   
                 (annualized)
	  		  		  		  		  		  		  		  	

 V. TRANSFEROR INTEREST 

 

																	
	 	  	Series
2004-C	  	Series
2006-A	  	Series
2008-A	  	Series
2009-A	  	Series
2009-B	  	Series
2009-C	  	Series
2009-D	  	Series
2010-A
	 (a) Required Retained Transferor

Percentage
	  		  		  		  		  		  		  		  	
	 (b) Additional Minimum

Transferor Percentage (2% Nov-

Jan; 0% otherwise)
	  		  		  		  		  		  		  		  	
									
	 (c) Beginning Transferor’s

Amount
	  		  		  		  		  		  		  		  	

  

 Exhibit C (Page 4) 

																	
	 	  	Series
2004-C	  	Series
2006-A	  	Series
2008-A	  	Series
2009-A	  	Series
2009-B	  	Series
2009-C	  	Series
2009-D	  	Series
2010-A
	 (d) Ending Transferor’s Amount
	  		  		  		  		  		  		  		  	
	 (e) Minimum Transferor’s

Amount
	  		  		  		  		  		  		  		  	
	 (f) Excess Funding Account

Balance at end of Monthly Period
	  		  		  		  		  		  		  		  	
	 (g) Principal Accounts Balance at

end of Monthly Period
	  		  		  		  		  		  		  		  	
	 (h) Sum of Principal Receivables,

Excess Funding Account and

Principal Accounts

at end of Monthly Period
	  		  		  		  		  		  		  		  	

 VI. TRUST ACCOUNT BALANCES AND EARNINGS 

 

																	
	 	  	Series
2004-C	  	Series
2006-A	  	Series
2008-A	  	Series
2009-A	  	Series
2009-B	  	Series
2009-C	  	Series
2009-D	  	Series
2010-A
	 BEGINNING ACCOUNT

BALANCES:
	  		  		  		  		  		  		  		  	
									
	 (a) Finance Charge Account
	  		  		  		  		  		  		  		  	
	 (b) Cash Collateral Account
	  		  		  		  		  		  		  		  	
	 (c) Spread Account
	  		  		  		  		  		  		  		  	
	 (d) Reserve Account
	  		  		  		  		  		  		  		  	
	 (e) Principal Account
	  		  		  		  		  		  		  		  	
	 (f) Principal Accumulation

Account
	  		  		  		  		  		  		  		  	
	 (g) Pre-Funding Account
	  		  		  		  		  		  		  		  	
	 (h) Pre-Funding Period Reserve

Account
	  		  		  		  		  		  		  		  	
									
	 ENDING ACCOUNT

BALANCES:
	  		  		  		  		  		  		  		  	
	 	  	Series
2004-C	  	Series
2006-A	  	Series
2008-A	  	Series
2009-A	  	Series
2009-B	  	Series
2009-C	  	Series
2009-D	  	Series
2010-A
	 (g) Finance Charge Account
	  		  		  		  		  		  		  		  	
	 (h) Cash Collateral Account
	  		  		  		  		  		  		  		  	
	 (i) Spread Account
	  		  		  		  		  		  		  		  	
	 (j) Reserve Account
	  		  		  		  		  		  		  		  	
	 (k) Principal Account
	  		  		  		  		  		  		  		  	
	 (l) Principal Accumulation

Account
	  		  		  		  		  		  		  		  	
	 (m) Pre-Funding Account
	  		  		  		  		  		  		  		  	
	 (n) Pre-Funding Period Reserve

Account
	  		  		  		  		  		  		  		  	
									
	 INTEREST AND EARNINGS:
	  		  		  		  		  		  		  		  	
	 	  	Series
2004-C	  	Series
2006-A	  	Series
2008-A	  	Series
2009-A	  	Series
2009-B	  	Series
2009-C	  	Series
2009-D	  	Series
2010-A
	 (m) Interest and Earnings on

Finance Charge Account
	  		  		  		  		  		  		  		  	
	 (n) Interest and Earnings on Cash

Collateral Account
	  		  		  		  		  		  		  		  	
	 (o) Interest and Earnings on

Spread Account
	  		  		  		  		  		  		  		  	
	 (p) Interest and Earnings on

Reserve Account
	  		  		  		  		  		  		  		  	

  

 Exhibit C (Page 5) 

																	
	 	  	Series
2004-C	  	Series
2006-A	  	Series
2008-A	  	Series
2009-A	  	Series
2009-B	  	Series
2009-C	  	Series
2009-D	  	Series
2010-A
	 (q) Interest and Earnings on

Principal Accumulation Account
	  		  		  		  		  		  		  		  	
	 (r) Interest and Earnings on

Principal Funding Account
	  		  		  		  		  		  		  		  	
	 (s) Interest and Earnings on Pre-

Funding Account
	  		  		  		  		  		  		  		  	

 VII. ALLOCATION AND APPLICATION of COLLECTIONS 

 

																	
	 	  	Series
2004-C	  	Series
2006-A	  	Series
2008-A	  	Series
2009-A	  	Series
2009-B	  	Series
2009-C	  	Series
2009-D	  	Series
2010-A
	 APPLICATIONS OF

FINANCE CHARGE

COLLECTIONS:
	  		  		  		  		  		  		  		  	
									
	 (a) Floating Allocation of Finance

Charges
	  		  		  		  		  		  		  		  	
									
	 (b) Class A Monthly Interest
	  		  		  		  		  		  		  		  	
	 (c) Class A Swap Payment Due to

(from) Swap Provider, if

applicable
	  		  		  		  		  		  		  		  	
									
	 (d) Class M Monthly Interest
	  		  		  		  		  		  		  		  	
	 (e) Class M Swap Payment Due to

(from) Swap Provider, if

applicable
	  		  		  		  		  		  		  		  	
									
	 (f) Class B Monthly Interest
	  		  		  		  		  		  		  		  	
	 (g) Class B Swap Payment Due to

(from) Swap Provider, if

applicable
	  		  		  		  		  		  		  		  	
									
	 (h) Servicing Fee (Beginning

Collateral Amount*2%/12)
	  		  		  		  		  		  		  		  	
									
	 (i) Class C Monthly Interest
	  		  		  		  		  		  		  		  	
	 (j) Class C Swap Payment Due to

(from) Swap Provider, if

applicable
	  		  		  		  		  		  		  		  	
									
	 (k) Investor Default Amounts
	  		  		  		  		  		  		  		  	
	 (l) Uncovered Dilution Amounts
	  		  		  		  		  		  		  		  	
	 (m) Unreimbursed Investor

Chargeoffs and Reallocated

Principal Collections
	  		  		  		  		  		  		  		  	
									
	 (n) Required to be Deposited into

Cash Collateral Account
	  		  		  		  		  		  		  		  	
	 (o) Required to be Deposited to

the Pre-Funding Period Reserve

Account
	  		  		  		  		  		  		  		  	
	 (p) Required Reserve Account

Amount
	  		  		  		  		  		  		  		  	

  

 Exhibit C (Page 6) 

																	
	 	  	Series
2004-C	  	Series
2006-A	  	Series
2008-A	  	Series
2009-A	  	Series
2009-B	  	Series
2009-C	  	Series
2009-D	  	Series
2010-A
	 (q) Required to be Deposited into

the Spread Account
	  		  		  		  		  		  		  		  	
									
	 (r) Required Payments and

Deposits Relating to Interest Rate

Swaps
	  		  		  		  		  		  		  		  	
	 (s) Other Payments Required to be

made
	  		  		  		  		  		  		  		  	
									
	 (t) Excess Finance Charge

Collections (a-b-c-d-e-f-g-h-i-j-k-

l-m-n-o-p-q-r-s)
	  		  		  		  		  		  		  		  	
									
	 APPLICATION OF

PRINCIPAL COLLECTIONS:
	  		  		  		  		  		  		  		  	
	 	  	Series
2004-C	  	Series
2006-A	  	Series
2008-A	  	Series
2009-A	  	Series
2009-B	  	Series
2009-C	  	Series
2009-D	  	Series
2010-A
	 (t) Investor Principal Collections
	  		  		  		  		  		  		  		  	
									
	 (u) Less Reallocated Principal

Collections
	  		  		  		  		  		  		  		  	
									
	 (v) Plus Shared Principal

Collections from other Principal

Sharing Series
	  		  		  		  		  		  		  		  	
									
	 (w) Plus Aggregate amount of

Finance Charge Collections

applied to cover

Defaults and Uncovered Dilution

and to be treated as Available

Principal

Collections
	  		  		  		  		  		  		  		  	
									
	 (x) Available Principal

Collections (t+u+v+w)
	  		  		  		  		  		  		  		  	
									
	 (y) Deposits to Principal

Accumulation Account
	  		  		  		  		  		  		  		  	
									
	 (z) Monthly Principal applied for

payments to the Class A

Noteholders
	  		  		  		  		  		  		  		  	
									
	 (aa) Monthly Principal applied for

payments to the Class M

Noteholders
	  		  		  		  		  		  		  		  	
									
	 (ab) Monthly Principal applied for

payments to the Class B

Noteholders
	  		  		  		  		  		  		  		  	
									
	 (ac) Monthly Principal applied for

payments to the Class C

Noteholders
	  		  		  		  		  		  		  		  	

  

 Exhibit C (Page 7) 

																	
	 	  	Series
2004-C	  	Series
2006-A	  	Series
2008-A	  	Series
2009-A	  	Series
2009-B	  	Series
2009-C	  	Series
2009-D	  	Series
2010-A
									
	 (ad) Shared Principal Collections

applied to other Principal Sharing
	  		  		  		  		  		  		  		  	

 VIII. INVESTOR CHARGE-OFFS 

 

																	
	 	  	Series
2004-C	  	Series
2006-A	  	Series
2008-A	  	Series
2009-A	  	Series
2009-B	  	Series
2009-C	  	Series
2009-D	  	Series
2010-A
	 (a) Investor Defaults and

Uncovered Dilution
	  		  		  		  		  		  		  		  	
	 (b) Reimbursed from Available

Funds
	  		  		  		  		  		  		  		  	
	 (c) Reimbursed from Cash

Collateral Account
	  		  		  		  		  		  		  		  	
	 (d) Total reimbursed in respect of

Investor Defaults and Dilution
	  		  		  		  		  		  		  		  	
	 (e) Investor Charge-off (a - d)
	  		  		  		  		  		  		  		  	

 IX. YIELD AND BASE RATE 

 

																	
	 	  	Series
2004-C	  	Series
2006-A	  	Series
2008-A	  	Series
2009-A	  	Series
2009-B	  	Series
2009-C	  	Series
2009-D	  	Series
2010-A
	 Base Rate
	  		  		  		  		  		  		  		  	
	 (Monthly interest, any net swap

payments and monthly servicing

fees divided by collateral amounts

plus amounts on deposit in the

principal accumulation account)
	  		  		  		  		  		  		  		  	
									
	 (a) Base Rate (current month)
	  		  		  		  		  		  		  		  	
	 (b) Base Rate (prior month)
	  		  		  		  		  		  		  		  	
	 (c) Base Rate (2 months prior)
	  		  		  		  		  		  		  		  	
									
	 (d) 3 Month Average Base Rate
	  		  		  		  		  		  		  		  	
									
	 Portfolio Yield
	  		  		  		  		  		  		  		  	
	 (Finance charge collections less

defaults allocable to each series

divided by collateral amounts plus

amounts on deposit in the

principal accumulation account)
	  		  		  		  		  		  		  		  	
									
	 (e) Portfolio Yield (current

month)
	  		  		  		  		  		  		  		  	
	 (f) Portfolio Yield (prior month)
	  		  		  		  		  		  		  		  	
	 (g) Portfolio Yield (2 months

prior)
	  		  		  		  		  		  		  		  	
									
	 (h) 3 Month Average Portfolio

Yield
	  		  		  		  		  		  		  		  	
									
	 Excess Spread Percentage
	  		  		  		  		  		  		  		  	
	 (Portfolio Yield less Base Rate)
	  		  		  		  		  		  		  		  	

  

 Exhibit C (Page 8) 

																	
	 	  	Series
2004-C	  	Series
2006-A	  	Series
2008-A	  	Series
2009-A	  	Series
2009-B	  	Series
2009-C	  	Series
2009-D	  	Series
2010-A
	 (i) Portfolio Adjusted Yield

(current month)
	  		  		  		  		  		  		  		  	
	 (j) Portfolio Adjusted Yield (prior

month)
	  		  		  		  		  		  		  		  	
	 (k) Portfolio Adjusted Yield (2

months prior)
	  		  		  		  		  		  		  		  	
									
	 (l) Portfolio Adjusted Yield (3

month average)
	  		  		  		  		  		  		  		  	

 IX. PRINCIPAL ACCUMULATION ACCOUNT 

 

																	
	 	  	Series
2004-C	  	Series
2006-A	  	Series
2008-A	  	Series
2009-A	  	Series
2009-B	  	Series
2009-C	  	Series
2009-D	  	Series
2010-A
	 (a)    Cumulative Class A principal
distributed to PAA (as of
prior distribution
date)
	  		  		  		  		  		  		  		  	
	 (b)    Class A Principal deposited
in the Principal Accumulation
Account (PAA)
	  		  		  		  		  		  		  		  	
	 (c)    Total Class A Principal
deposited in the PAA (a + b)
	  		  		  		  		  		  		  		  	
									
	 (d)    Cumulative Class M principal
distributed to PAA (as of
prior distribution date)
	  		  		  		  		  		  		  		  	
	 (e)    Class M Principal deposited
in the Principal Accumulation
Account (PAA)
	  		  		  		  		  		  		  		  	
	 (f)     Total Class M Principal
deposited in the PAA (d +e)
	  		  		  		  		  		  		  		  	
									
	 (g)    Cumulative Class B principal
distributed to PAA (as of
prior distribution date)
	  		  		  		  		  		  		  		  	
	 (h)    Class B Principal deposited in
the Principal Accumulation
Account (PAA)
	  		  		  		  		  		  		  		  	
	 (i)     Total Class B Principal
deposited in the PAA (g + h)
	  		  		  		  		  		  		  		  	
									
	 (j)     Cumulative Class C principal
distributed to PAA (as of
prior distribution
date)
	  		  		  		  		  		  		  		  	
	 (k)    Class C Principal deposited in
the Principal Accumulation
Account (PAA)
	  		  		  		  		  		  		  		  	
	 (l)     Total Class C Principal
deposited in the PAA (j + k)
	  		  		  		  		  		  		  		  	
									
	 (m)   Ending PAA balance (c + f +
i +l)
	  		  		  		  		  		  		  		  	

 X. PRINCIPAL REPAYMENT 
  

 Exhibit C (Page 9) 

																	
	 	  	Series
2004-C	  	Series
2006-A	  	Series
2008-A	  	Series
2009-A	  	Series
2009-B	  	Series
2009-C	  	Series
2009-D	  	Series
2010-A
	 (a) Class A Principal Paid (as of

prior distribution dates)
	  		  		  		  		  		  		  		  	
	 (b) Class A Principal Payments
	  		  		  		  		  		  		  		  	
	 (c) Total Class A Principal Paid (a

+ b)
	  		  		  		  		  		  		  		  	
									
	 (d) Class M Principal Paid (as of

prior distribution dates)
	  		  		  		  		  		  		  		  	
	 (e) Class M Principal Payments
	  		  		  		  		  		  		  		  	
	 (f) Total Class M Principal Paid

(d + e)
	  		  		  		  		  		  		  		  	
									
	 (g) Class B Principal Paid (as of

prior distribution dates)
	  		  		  		  		  		  		  		  	
	 (h) Class B Principal Payments
	  		  		  		  		  		  		  		  	
	 (i) Total Class B Principal Paid (g

+ h)
	  		  		  		  		  		  		  		  	
									
	 (j) Class C Principal Paid (as of

prior distribution dates)
	  		  		  		  		  		  		  		  	
	 (k) Class C Principal Payments
	  		  		  		  		  		  		  		  	
	 (l) Total Class C Principal Paid (j

+ k)
	  		  		  		  		  		  		  		  	

  

															
	
World Financial Network National Bank, as Servicer

 
	 	 	 	 	 	 
	By:                  
                                         
	 		 		 		 	 
	Name:                 
                                      	 		 		 		 	 
	Title:                   
                                     	 		 		 		 		 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

  

 Exhibit C (Page 10) 

 EXHIBIT D 

FORM OF PRE-FUNDING RELEASE NOTICE 

Dated as of                     

 The Bank of New York Mellon Trust Company, N.A. 

as Indenture Trustee 
 2 North LaSalle Street,
Suite 1020 
 Chicago, IL 60602 

Attention: WFN 2010-A 
  

	 	Re:	World Financial Network Credit Card Master Note Trust, Series 2010-A Asset Backed Notes 

Ladies and Gentlemen: 

Reference is made to Section 4.16(d) of the Series 2010-A Indenture Supplement to Master Indenture, dated as of July 8,
2010 (the “Indenture Supplement”), between World Financial Network Credit Card Master Note Trust, as Issuer, and The Bank of New York Mellon Trust Company, N.A., as Indenture Trustee. Terms defined in the Indenture Supplement and
not otherwise defined herein are used herein as therein defined. 
 Pursuant to the Indenture Supplement, the Servicer hereby
directs you to release $             from the Pre-Funding Account, and to deposit or distribute such funds in the order of priority and in the manner set forth below: 

 

	 	(i)	to the Cash Collateral Account, $            ; and 

 

	 	(ii)	to Transferor, $            . 

The undersigned hereby certifies, on behalf of the Servicer, that the Transferor Amount as of
                    ,          shall not be less than the Minimum Transferor Amount, after giving effect to
the requested withdrawal on such date from the Pre-Funding Account pursuant to Section 4.16(d) of Indenture Supplement and the increase in the Collateral Amount resulting therefrom in accordance with clause (b) of the definition of
“Collateral Amount.” 
  

			
	Sincerely,
	
	WORLD FINANCIAL NETWORK NATIONAL BANK, as Servicer
		
	By:	 	 
	Title:
	Name:

  

 Exhibit D (Page 1) 

 SCHEDULE 1 

PERFECTION COVENANTS 

Indenture Trustee covenants that it shall retain possession of the Collateral Certificate and that it shall not cause or allow possession
of the Collateral Certificate to be transferred to any other entity, including any Affiliate of Indenture Trustee, unless (i) the Indenture Trustee provides written notice of its intent to transfer possession of the Collateral Certificate to
the Owner Trustee, the Issuer and the Administrator at least sixty (60) days prior to such transfer, (ii) each of the Issuer and the Indenture Trustee receives an Opinion of Counsel of the Administrator stating that the Indenture Trustee
will continue to have a perfected security interest in the Collateral Certificate free of any adverse claim and (iii) the Indenture Trustee receives a certificate of the Administrator, on behalf of the Issuer, signed by the Chairman of the
Board, President, any Vice President or the Treasurer or any Assistant Treasurer, stating that the lien of the Indenture continues to constitute a valid first priority perfected security interest in the Collateral Certificate (other than with
respect to a tax, mechanics or similar lien). 
  

 -1-Certificate of Incorporation of Express, Inc.

 Exhibit 4.1 

CERTIFICATE OF INCORPORATION 

OF 

EXPRESS, INC. 

ARTICLE ONE 

The name of the Corporation is Express, Inc. (the “Corporation”). 

ARTICLE TWO 

The address of the Corporation’s registered office in the State of Delaware is 1209 Orange Street, in the City of Wilmington, County
of New Castle, 19801. The name of its registered agent at such address is The Corporation Trust Company. The registered office and/or registered agent of the Corporation may be changed from time to time by resolution of the Board of Directors.

 ARTICLE THREE 

The nature of the business of the Corporation is to engage in any lawful act or activity for which corporations may be organized under
the General Corporation Law of the State of Delaware (the “DGCL”). 
 ARTICLE FOUR 

The name and mailing address of the sole incorporator are as follows: 

 

			
	 NAME
	  	 MAILING ADDRESS

	Matthew C. Moellering	  	 c/o Express, Inc.
 One
Limited Parkway
 Columbus, OH 43230

ARTICLE FIVE 

PART A. AUTHORIZED SHARES 

The total number of shares of all classes of capital stock which the Corporation shall have authority to issue is 510,000,000 shares,
consisting of: 
 1. 10,000,000 shares of Preferred Stock, par value $0.01 per share (the “Preferred Stock”);
and 

 2. 500,000,000 shares of Common Stock, par value $0.01 per share (the “Common
Stock”). 
 The Preferred Stock and the Common Stock shall have the rights, preferences and limitations set forth
below. 
 PART B. PREFERRED STOCK 

The Board of Directors is authorized, subject to limitations prescribed by law, to provide by resolution or resolutions for the issuance
of shares of Preferred Stock in one or more series, to establish the number of shares to be included in each such series, and to fix the voting powers (if any), designations, powers, preferences, and relative, participating, optional or other
rights, if any, of the shares of each such series, and any qualifications, limitations or restrictions thereof. Within the limitations or restrictions stated in any resolution or resolutions of the Board of Directors fixing the number of shares
constituting a series of Preferred Stock, the Board of Directors may increase or decrease (but not below the number of shares of any such series of Preferred Stock then outstanding) by resolution the number of shares of any such series of Preferred
Stock. In the event that the number of shares of any series of Preferred Stock shall be so decreased, the shares constituting such decrease shall resume the undesignated status which such shares had prior to the adoption of the resolution originally
fixing the number of shares of such series of Preferred Stock subject to the requirements of applicable law. The number of authorized shares of Preferred Stock may be increased or decreased (but not below the number of shares thereof then
outstanding) by the affirmative vote of the holders of a majority in voting power of the outstanding shares of capital stock of the Corporation entitled to vote, without the separate vote of the holders of the Preferred Stock as a class irrespective
of the provisions of Section 242(b)(2) of the DGCL. 
 PART C. COMMON STOCK 

Section 1. Voting Rights. Except as otherwise provided by the DGCL or this Certificate of Incorporation and subject to the
rights of holders of any series of Preferred Stock, all of the voting power of the stockholders of the Corporation shall be vested in the holders of the Common Stock. Each share of Common Stock shall entitle the holder thereof to one vote for each
share held by such holder on all matters voted upon by the stockholders of the Corporation; provided, however, that, except as otherwise required by law, holders of Common Stock, as such, shall not be entitled to vote on any amendment to this
Certificate of Incorporation (including any certificate of designations relating to any series of Preferred Stock) that relates solely to the terms of one or more outstanding series of Preferred Stock if the holders of such affected series are
entitled, either separately or together with the holders of one or more other such series, to vote thereon pursuant to this Certificate of Incorporation (including any certificate of designations relating to any series of Preferred Stock).

 ARTICLE SIX 

The Corporation is to have perpetual existence. 
  

 2 

 ARTICLE SEVEN 

Section 1. Board of Directors. The business and affairs of the Corporation shall be managed by or under the direction of the
Board of Directors. In addition to the powers and authority expressly conferred upon them by statute or by this Certificate of Incorporation or the Bylaws of the Corporation, the directors are hereby empowered to exercise all such powers and do all
such acts and things as may be exercised or done by the Corporation. 
 Section 2. Number of Directors. Subject to
any rights of the holders of any class or series of Preferred Stock to elect additional directors under specified circumstances, the number of directors which shall constitute the Board of Directors shall be fixed exclusively from time to time by
resolution adopted by the affirmative vote of a majority of the Whole Board. For purposes of this Certificate of Incorporation, the term “Whole Board” shall mean the total number of authorized directors whether or not there exist any
vacancies in previously authorized directorships. 
 Section 3. Classes of Directors. Beginning immediately
following the consummation of the Corporation’s initial public offering of its Common Stock pursuant to an effective registration statement under the Securities Act of 1933, as amended, (the “Initial Public Offering”) the
directors of the Corporation, other than those who may be elected by the holders of any series of Preferred Stock under specified circumstances, shall be divided into three classes, hereby designated Class I, Class II and Class III. 

Section 4. Election and Term of Office. The directors shall be elected by a plurality of the votes of the shares present in
person or represented by proxy at the meeting and entitled to vote in the election of directors; provided that, whenever the holders of any class or series of capital stock of the Corporation are entitled to elect one or more directors pursuant to
the provisions of this Certificate of Incorporation (including, but not limited to, any duly authorized certificate of designation), such directors shall be elected by a plurality of the votes of such class or series present in person or represented
by proxy at the meeting and entitled to vote in the election of such directors. The term of office of the initial Class I directors shall expire at the first annual meeting of stockholders after the Initial Public Offering, the term of office of the
initial Class II directors shall expire at the second succeeding annual meeting of stockholders after the Initial Public Offering and the term of office of the initial Class III directors shall expire at the third succeeding annual meeting
of the stockholders after the Initial Public Offering. For the purposes hereof, the Board of Directors may assign directors already in office to the initial Class I, Class II and Class III at the time of the Initial Public Offering.
At each annual meeting of stockholders after the Initial Public Offering, directors elected to replace those of a Class whose terms expire at such annual meeting shall be elected to hold office until the third succeeding annual meeting after their
election and until their respective successors shall have been duly elected and qualified. Prior to the Initial Public Offering, each director shall hold office until such director’s successor is duly elected and qualified or until his or her
earlier death, resignation or removal. After the Initial Public Offering, each director shall hold office until the annual meeting of stockholders for the year in which such director’s term expires and a successor is duly elected and qualified
or until his or her earlier death, resignation or removal. Nothing in this Certificate shall preclude a director from serving consecutive terms. Elections of directors need not be by written ballot unless the Bylaws of the Corporation shall so
provide. 
  

 3 

 Section 5. Newly-Created Directorships and Vacancies. Subject to the rights of
the holders of any series of Preferred Stock then outstanding, newly created directorships resulting from any increase in the authorized number of directors or any vacancies in the Board of Directors resulting from death, resignation,
disqualification, removal from office or any other cause may be filled only by the Board of Directors (and not by stockholders), provided that a quorum is then in office and present, or by a majority of the directors then in office, if less than a
quorum is then in office, or by the sole remaining director. Prior to the Initial Public Offering, a director chosen to fill a vacancy or a position resulting from an increase in the number of directors shall hold office until his or her successor
is elected and qualified, or until his or her earlier death, resignation or removal. After the Initial Public Offering, a director elected to fill a vacancy shall be elected for the unexpired term of his or her predecessor in office and until his or
her successor is elected and qualified. After the Initial Public Offering, a director chosen to fill a position resulting from an increase in the number of directors shall hold office until the next election of the class for which such director
shall have been chosen and until his or her successor is elected and qualified, or until his or her earlier death, resignation or removal. No decrease in the authorized number of directors shall shorten the term of any incumbent director.

 Section 6. Removal of Directors. After the Initial Public Offering, subject to the rights of
the holders of any series of Preferred Stock then outstanding, a director may be removed from office only for cause, at a meeting called for that purpose, by the affirmative vote of the holders of at least sixty-six and two thirds percent
(66 2/3%) of the voting power of all outstanding
shares of capital stock entitled to vote generally in the election of directors, voting together as a single class. 

Section 7. Rights of Holders of Preferred Stock. Notwithstanding the provisions of this ARTICLE SEVEN, whenever the holders
of one or more series of Preferred Stock issued by the Corporation shall have the right, voting separately or together by series, to elect directors at an annual or special meeting of stockholders, the election, term of office, filling of vacancies
and other features of such directorship shall be governed by the rights of such Preferred Stock as set forth in the certificate of designation governing such series. 

Section 8. Bylaws. In furtherance and not in limitation of the powers conferred upon it by the laws of
the State of Delaware, the Board of Directors shall have the power to adopt, amend, alter or repeal the Corporation’s Bylaws. The affirmative vote of a majority of the Whole Board shall be required to adopt, amend, alter or repeal the
Corporation’s Bylaws. The Corporation’s Bylaws also may be adopted, amended, altered or repealed by the stockholders; provided, however, that in addition to any vote of the holders of any class or series of stock of the Corporation
required by law or by this Certificate of Incorporation, the affirmative vote of the holders of at least sixty-six and two-thirds percent
(66 2/3%) of the voting power of all of the then
outstanding shares of the capital stock of the Corporation entitled to vote generally in the election of directors, voting together as a single class shall be required to adopt, amend, alter or repeal any provisions of the Bylaws of the Corporation.

  

 4 

 Section 9. Advance Notice. Advance notice of stockholder nominations for the
election of directors and of business to be brought by stockholders before any meeting of the stockholders of the Corporation shall be given in the manner provided in the Bylaws of the Corporation. 

ARTICLE EIGHT 

Section 1. Limitation of Liability. 

(a) To the fullest extent permitted by the DGCL as it now exists or may hereafter be amended (but, in the case of any such amendment, only
to the extent that such amendment permits the Corporation to provide broader rights than permitted prior thereto), no director of the Corporation shall be liable to the Corporation or its stockholders for monetary damages arising from a breach of
fiduciary duty owed to the Corporation or its stockholders. 
 (b) Any repeal or modification of the foregoing paragraph by the
stockholders of the Corporation shall not adversely affect any right or protection of a director of the Corporation existing at the time of such repeal or modification with respect to any act, omission or other matter occurring prior to such repeal
or modification. 
 ARTICLE NINE 

After the Initial Public Offering, and subject to the rights of the holders of any series of Preferred Stock, (i) the stockholders
of the Corporation may not take any action by written consent in lieu of a meeting, and must take any actions at a duly called annual or special meeting of stockholders and the power of stockholders to consent in writing without a meeting is
specifically denied and (ii) special meetings of stockholders of the Corporation may be called only by a resolution adopted by the affirmative vote of the majority of the Whole Board. 

ARTICLE TEN 

Section 1. Certain Acknowledgments. In recognition and anticipation that (i) the directors, officers or employees of
Golden Gate Private Equity, Inc., Limited Brands, Inc. or their respective Affiliated Companies (as defined below) may serve as directors or officers of the Corporation, (ii) Golden Gate Private Equity, Inc. and its Affiliated Companies and
Limited Brands, Inc. and its Affiliated Companies engage and may continue to engage in the same or similar activities or related lines of business as those in which the Corporation, directly or indirectly, may engage and/or other business activities
that overlap with or compete with those in which the Corporation, directly or indirectly, may engage, and (iii) that the Corporation and its Affiliated Companies may engage in material business transactions with Golden Gate Private Equity, Inc.
and its Affiliated Companies and Limited Brands, Inc. and its Affiliated Companies, as applicable, and that the Corporation is expected to benefit therefrom, the provisions of this ARTICLE TEN are set forth to regulate and define the conduct of
certain affairs of the Corporation as they may involve Golden Gate Private Equity, Inc. and/or its Affiliated 
  

 5 

 
Companies, Limited Brands, Inc. and/or its Affiliated Companies and/or their respective officers and directors, and the powers, rights, duties and liabilities of the Corporation and its officers,
directors and stockholders in connection therewith. In furtherance of the foregoing, the Corporation renounces any interest or expectancy in, or being offered the opportunity to participate in, any corporate opportunity not allocated to it pursuant
to this ARTICLE TEN to the fullest extent permitted by law. 
 Section 2. Competition and Corporate Opportunities.
To the fullest extent permitted by law, none of Golden Gate Private Equity, Inc. or any of its Affiliated Companies or Limited Brands, Inc. or any of its Affiliated Companies shall have any duty to refrain from engaging directly or indirectly in the
same or similar business activities or lines of business as the Corporation or any of its Affiliated Companies, and none of Golden Gate Private Equity, Inc. or any of its Affiliated Companies, Limited Brands, Inc. or any of its Affiliated Companies,
or any officer or director thereof (except as provided in Section 3 below) shall be liable to the Corporation or its stockholders for breach of any fiduciary duty solely by reason of any such activities of Golden Gate Private Equity, Inc. or
any of its Affiliated Companies or Limited Brands, Inc. or any of its Affiliated Companies. To the fullest extent permitted by law, in the event that Golden Gate Private Equity, Inc. or any of its Affiliated Companies acquires knowledge of a
potential transaction or matter which may be a corporate opportunity for itself and the Corporation or any of the Corporation’s Affiliated Companies, neither Golden Gate Private Equity, Inc. nor any of its Affiliated Companies shall have any
duty to communicate or offer such corporate opportunity to the Corporation or any of its Affiliated Companies and shall not be liable to the Corporation or its stockholders for breach of any fiduciary duty as a stockholder of the Corporation solely
by reason of the fact that Golden Gate Private Equity, Inc. or any of its Affiliated Companies pursues or acquires such corporate opportunity for itself, directs such corporate opportunity to another person, or does not communicate information
regarding such corporate opportunity to the Corporation. To the fullest extent permitted by law, in the event that Limited Brands, Inc. or any of its Affiliated Companies acquires knowledge of a potential transaction or matter which may be a
corporate opportunity for itself and the Corporation or any of the Corporation’s Affiliated Companies, neither of Limited Brands, Inc. or any of its Affiliated Companies shall have any duty to communicate or offer such corporate opportunity to
the Corporation or any of its Affiliated Companies and shall not be liable to the Corporation or its stockholders for breach of any fiduciary duty as a stockholder of the Corporation solely by reason of the fact that Limited Brands, Inc. or any of
its Affiliated Companies pursues or acquires such corporate opportunity for itself, directs such corporate opportunity to another person, or does not communicate information regarding such corporate opportunity to the Corporation. 

Section 3. Allocation of Corporate Opportunities. 

(a) In the event that a director or officer of the Corporation who is also a director or officer of Golden Gate Private Equity, Inc. or
any of its Affiliated Companies acquires knowledge of a potential transaction or matter which may be a corporate opportunity for the Corporation or any of its Affiliated Companies and Golden Gate Private Equity, Inc. or any of its Affiliated
Companies, such director or officer of the Corporation shall have fully satisfied and fulfilled the fiduciary duty of such director or officer to the Corporation and its stockholders with respect to such corporate opportunity, if such director or
officer acts in a manner consistent with the following policy: 
 (i) A corporate opportunity offered to any
person who is a director or officer of the Corporation, and who is also a director or officer of Golden Gate Private Equity, Inc. or any of its Affiliated Companies, shall belong to the Corporation if such opportunity is expressly offered to such
person in writing solely in his or her capacity as a director or officer of the Corporation. 
  

 6 

 (ii) Otherwise, such corporate opportunity shall belong to Golden Gate
Private Equity, Inc. 
 (b) In the event that a director or officer of the Corporation who is also a director or officer of
Limited Brands, Inc. or any of its Affiliated Companies acquires knowledge of a potential transaction or matter which may be a corporate opportunity for the Corporation or any of its Affiliated Companies and Limited Brands, Inc. or any of its
Affiliated Companies, such director or officer of the Corporation shall have fully satisfied and fulfilled the fiduciary duty of such director or officer to the Corporation and its stockholders with respect to such corporate opportunity, if such
director or officer acts in a manner consistent with the following policy: 
 (i) A corporate opportunity offered
to any person who is a director or officer of the Corporation, and who is also a director or officer of Limited Brands, Inc. or any of its Affiliated Companies, shall belong to the Corporation if such opportunity is expressly offered to such person
in writing solely in his or her capacity as a director or officer of the Corporation. 
 (ii) Otherwise, such
corporate opportunity shall belong to Limited Brands, Inc. 
 Section 4. Certain Matters Deemed Not Corporate
Opportunities. In addition to and notwithstanding the foregoing provisions of this ARTICLE TEN, a corporate opportunity shall not be deemed to belong to the Corporation if it is a business opportunity that the Corporation is not permitted to
undertake under the terms of ARTICLE THREE or that the Corporation is not financially able or contractually permitted or legally able to undertake, or that is, from its nature, not in the line of the Corporation’s business or is of no practical
advantage to it or that is one in which the Corporation has no interest or reasonable expectancy. 
 Section 5.
Renouncement of Certain Corporate Opportunities. 
 (a) Except as provided in Section 3(a)(i) of this ARTICLE TEN
above, if a director or officer of the Corporation who is also a director or officer of Golden Gate Private Equity, Inc. or any of its Affiliated Companies acquires knowledge of a potential transaction or matter which may be a corporate opportunity,
the Corporation shall have no interest in such corporate opportunity and no expectancy that such corporate opportunity be offered to it, any such interest or expectancy being hereby renounced, so that such person shall have no duty to present such
corporate opportunity to the Corporation and shall have the right to hold and exploit any such corporate opportunity for its (and its officers’, employees’, directors’, agents’, stockholders’,

  

 7 

 
members’, partners’, affiliates’ or subsidiaries’) own account or to direct, sell, assign or transfer such corporate opportunity to persons other than the Corporation or any
of its Affiliated Companies. Such person shall not breach any fiduciary duty to the Corporation or to its stockholders by reason of the fact that such person does not present such corporate opportunity to the Corporation or pursues, acquires or
exploits such corporate opportunity for itself or directs, sells, assigns or transfers such corporate opportunity to another person. 

(b) Except as provided in Section 3(b)(i) above of this ARTICLE TEN, if a director or officer of the Corporation who is also a
director or officer of Limited Brands, Inc. or any of its Affiliated Companies acquires knowledge of a potential transaction or matter which may be a corporate opportunity, the Corporation shall have no interest in such corporate opportunity and no
expectancy that such corporate opportunity be offered to it, any such interest or expectancy being hereby renounced, so that such person shall have no duty to present such corporate opportunity to the Corporation and shall have the right to hold and
exploit any such corporate opportunity for its (and its officers’, employees’, directors’, agents’, stockholders’, members’, partners’, affiliates’ or subsidiaries’) own account or to direct, sell, assign
or transfer such corporate opportunity to persons other than the Corporation or any of its Affiliated Companies. Such person shall not breach any fiduciary duty to the Corporation or to its stockholders by reason of the fact that such person does
not present such corporate opportunity to the Corporation or pursues, acquires or exploits such corporate opportunity for itself or directs, sells, assigns or transfers such corporate opportunity to another person. 

Section 6. Certain Definitions. For purposes of this ARTICLE TEN, “Affiliated Company” shall mean (a) in
respect of Golden Gate Private Equity, Inc., any company which controls, is controlled by or under common control with Golden Gate Private Equity, Inc. and any investment funds managed by Golden Gate Private Equity, Inc. (other than the Corporation
and any company that is controlled by the Corporation), (b) in respect of Limited Brands, Inc. shall mean any company controlled by Limited Brands, Inc. (other than the Corporation and any company that is controlled by the Corporation) and
(c) in respect of the Corporation, shall mean any company controlled by the Corporation. 
 Section 7. Amendment of
this Article. Notwithstanding anything to the contrary elsewhere contained in this Certificate of Incorporation, the affirmative vote of the holders of at least eighty percent (80%) of the voting power of all shares of Common Stock then
outstanding, voting together as a single class, shall be required to alter, amend or repeal, or to adopt any provision inconsistent with, this ARTICLE TEN. 

Section 8. Deemed Notice. Any person or entity purchasing or otherwise acquiring any interest in any shares of the
Corporation shall be deemed to have notice of and to have consented to the provisions of this ARTICLE TEN. 
 Section 9.
Severability. To the extent that any provision of this ARTICLE TEN is found to be invalid or unenforceable, such invalidity or unenforceability shall not affect the validity or enforceability of any other provision of this ARTICLE TEN.

  

 8 

 ARTICLE ELEVEN 

Section 1. Section 203 of the DGCL. The Corporation expressly elects not to be governed by Section 203 of the DGCL.

 Section 2. Interested Stockholder Transactions. Notwithstanding any other provision in this Certificate of
Incorporation to the contrary, the Corporation shall not engage in any Business Combination (as defined hereinafter) with any Interested Stockholder (as defined hereinafter) for a period of three years following the time that such stockholder became
an Interested Stockholder, unless: 
  

	 	(a)	prior to such time the Board of Directors approved either the Business Combination or the transaction which resulted in such stockholder becoming an Interested
Stockholder; 

  

	 	(b)	upon consummation of the transaction which resulted in such stockholder becoming an Interested Stockholder, such stockholder owned at least eighty-five percent
(85%) of the Voting Stock (as defined hereinafter) of the Corporation outstanding at the time the transaction commenced, excluding for purposes of determining the Voting Stock outstanding (but not the outstanding Voting Stock owned by such
stockholder) those shares owned (i) by Persons (as defined hereinafter) who are directors and also officers of the Corporation and (ii) employee stock plans of the Corporation in which employee participants do not have the right to
determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or 

  

	 	(c)	 at or subsequent to such time the Business Combination is approved by the Board of Directors and authorized at an annual or special meeting of
stockholders by the affirmative vote of at least
66 2/3% of the outstanding Voting Stock which is not
owned by such stockholder. 

 Section 3. Exceptions to Prohibition on Interested Stockholder
Transactions. The restrictions contained in this ARTICLE ELEVEN shall not apply if: 
  

	 	(a)	a stockholder becomes an Interested Stockholder inadvertently and (i) as soon as practicable divests itself of ownership of sufficient shares so that the
stockholder ceases to be an Interested Stockholder; and (ii) would not, at any time within the three-year period immediately prior to a Business Combination between the Corporation and such stockholder, have been an Interested Stockholder but
for the inadvertent acquisition of ownership; or 

  

	 	(b)	 the Business Combination is proposed prior to the consummation or abandonment of and subsequent to the earlier of the public announcement or the notice
required hereunder of a proposed transaction which (i) constitutes one of the transactions described in the second sentence of 

 

 9 

	 	this Section 3(b) of ARTICLE ELEVEN; (ii) is with or by a Person who either was not an Interested Stockholder during the previous three years or who became an
Interested Stockholder with the approval of the Board of Directors; and (iii) is approved or not opposed by a majority of the directors then in office (but not less than one) who were directors prior to any Person becoming an Interested
Stockholder during the previous three years or were recommended for election or elected to succeed such directors by a majority of such directors. The proposed transactions referred to in the preceding sentence are limited to (x) a merger or
consolidation of the Corporation (except for a merger in respect of which, pursuant to § 251(f) of the DGCL, no vote of the stockholders of the Corporation is required); (y) a sale, lease, exchange, mortgage, pledge, transfer or other
disposition (in one transaction or a series of transactions), whether as part of a dissolution or otherwise, of assets of the Corporation or of any direct or indirect majority-owned subsidiary of the Corporation (other than to any direct or indirect
wholly-owned subsidiary or to the Corporation) having an aggregate market value equal to fifty percent (50%) or more of either that aggregate market value of all of the assets of the Corporation determined on a consolidated basis or the
aggregate market value of all the outstanding Stock (as defined hereinafter) of the Corporation; or (z) a proposed tender or exchange offer for fifty percent (50%) or more of the outstanding Voting Stock of the Corporation. The Corporation
shall give not less than 20 days’ notice to all Interested Stockholders prior to the consummation of any of the transactions described in clause (x) or (y) of the second sentence of this Section 3(b) of ARTICLE ELEVEN.

 Section 4. Definitions. As used in this ARTICLE ELEVEN only, and unless otherwise provided by the
express terms of this ARTICLE ELEVEN, the following terms shall have the meanings ascribed to them as set forth in this Section 4: 
  

	 	(a)	“Affiliate” means a Person that directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with,
another Person; 

  

	 	(b)	“Associate,” when used to indicate a relationship with any Person, means: (i) any corporation, partnership, unincorporated association or other entity of
which such Person is a director, officer or partner or is, directly or indirectly, the owner of twenty percent (20%) or more of any class of Voting Stock; (ii) any trust or other estate in which such Person has at least a twenty percent
(20%) beneficial interest or as to which such Person serves as trustee or in a similar fiduciary capacity; and (iii) any relative or spouse of such Person, or any relative of such spouse, who has the same residence as such Person;

  

 10 

	 	(c)	“Business Combination” means: 

  

	 	(i)	any merger or consolidation of the Corporation or any direct or indirect majority-owned subsidiary of the Corporation with (A) the Interested Stockholder, or
(B) with any Person if the merger or consolidation is caused by the Interested Stockholder and as a result of such merger or consolidation Section 2 of this ARTICLE ELEVEN is not applicable to the surviving entity;

  

	 	(ii)	any sale, lease, exchange, mortgage, pledge, transfer or other disposition (in one transaction or a series of transactions), except proportionately as a stockholder of
the Corporation, to or with the Interested Stockholder, whether as part of a dissolution or otherwise, of assets of the Corporation or of any direct or indirect majority-owned subsidiary of the Corporation which assets have an aggregate market value
equal to ten percent (10%) or more of either the aggregate market value of all the assets of the Corporation determined on a consolidated basis or the aggregate market value of all the outstanding Stock of the Corporation;

  

	 	(iii)	any transaction which results in the issuance or transfer by the Corporation or by any direct or indirect majority-owned subsidiary of the Corporation of any Stock of
the Corporation or of such subsidiary to the Interested Stockholder, except: (A) pursuant to the exercise, exchange or conversion of securities exercisable for, exchangeable for or convertible into Stock of the Corporation or any such
subsidiary which securities were outstanding prior to the time that the Interested Stockholder became such; (B) pursuant to a merger under § 251(g) or § 253 of the DGCL; (C) pursuant to a dividend or distribution paid or made, or
the exercise, exchange or conversion of securities exercisable for, exchangeable for or convertible into Stock of the Corporation or any such subsidiary which security is distributed, pro rata to all holders of a class or series of Stock of the
Corporation subsequent to the time the Interested Stockholder became such; (D) pursuant to an exchange offer by the Corporation to purchase Stock made on the same terms to all holders of such Stock; or (E) any issuance or transfer of Stock
by the Corporation; provided however, that in no case under items (C)-(E) of this Section 4(c)(iii) of ARTICLE ELEVEN shall there be an increase in the Interested Stockholder’s proportionate share of the Stock of any class or series
of the Corporation or of the Voting Stock of the Corporation; 

  

	 	(iv)	any transaction involving the Corporation or any direct or indirect majority-owned subsidiary of the Corporation which has the effect, directly or indirectly, of
increasing the proportionate share of the Stock of any class or series, or securities convertible into the Stock of any class or series, of the Corporation or of any such subsidiary which is owned by the Interested Stockholder, except as a result of
immaterial changes due to fractional share adjustments or as a result of any purchase or redemption of any shares of Stock not caused, directly or indirectly, by the Interested Stockholder; or 

 

 11 

	 	(v)	any receipt by the Interested Stockholder of the benefit, directly or indirectly (except proportionately as a stockholder of the Corporation), of any loans, advances,
guarantees, pledges or other financial benefits (other than those expressly permitted in Sections 4(c)(i)-(iv) of ARTICLE ELEVEN) provided by or through the Corporation or any direct or indirect majority-owned subsidiary of the Corporation;

  

	 	(d)	“Control,” including the terms “controlling,” “controlled by” and “under common control with,” means the possession, directly or
indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of stock or other equity interests, by contract or otherwise. A Person who is the owner of twenty percent
(20%) or more of the outstanding Voting Stock of any corporation, partnership, unincorporated association or other entity shall be presumed to have control of such entity, in the absence of proof by a preponderance of the evidence to the
contrary; notwithstanding the foregoing, a presumption of control shall not apply where such Person holds Voting Stock, in good faith and not for the purpose of circumventing this ARTICLE ELEVEN, as an agent, bank, broker, nominee, custodian or
trustee for one or more owners who do not individually or as a group have control of such entity; 

  

	 	(e)	 “Interested Stockholder” means any Person (other than the Corporation and any direct or indirect majority-owned subsidiary of the
Corporation) that (i) is the owner of fifteen percent (15%) or more of the outstanding Voting Stock of the Corporation, or (ii) is an Affiliate or Associate of the Corporation and was the owner of fifteen percent (15%) or more of
the outstanding Voting Stock of the Corporation at any time within the three-year period immediately prior to the date on which it is sought to be determined whether such Person is an Interested Stockholder, and the Affiliates and Associates of such
Person. Notwithstanding anything in this ARTICLE ELEVEN to the contrary, the term “Interested Stockholder” shall not include: (x) any investment fund managed by Golden Gate Private Equity, Inc., or Affiliates or Associates of any
investment fund managed by Golden Gate Private Equity, Inc.; (y) any Person who would otherwise be an Interested Stockholder because of a transfer, sale, assignment, conveyance, hypothecation, encumbrance, or other disposition of five percent
(5%) or more of the outstanding Voting Stock of the Corporation (in one transaction or a series of transactions) by any party specified in the immediately preceding clause (x) to such Person, so long as such transfer, sale, assignment,
conveyance, hypothecation, encumbrance, or other disposition occurs from and after the first date that Limited Brands, Inc. and any company controlled by Limited Brands, Inc. (other than the Corporation and any company controlled by the Corporation)
owns less 

  

 12 

	 	 
than five percent (5%) of the Corporation’s Common Stock; provided, however, that such Person was not an Interested Stockholder prior to such transfer, sale, assignment, conveyance,
hypothecation, encumbrance, or other disposition; or (z) any Person whose ownership of shares in excess of the fifteen percent (15%) limitation set forth herein is the result of action taken solely by the Corporation, provided that, for
purposes of this clause (z), such Person shall be an Interested Stockholder if thereafter such Person acquires additional shares of Voting Stock of the Corporation, except as a result of further action by the Corporation not caused, directly or
indirectly, by such Person; 

  

	 	(f)	“Owner,” including the terms “own” and “owned,” when used with respect to any Stock, means a Person that individually or with or through
any of its affiliates or associates beneficially owns such Stock, directly or indirectly; or has (A) the right to acquire such Stock (whether such right is exercisable immediately or only after the passage of time) pursuant to any agreement,
arrangement or understanding, or upon the exercise of conversion rights, exchange rights, warrants or options, or otherwise; provided, however, that a Person shall not be deemed the owner of Stock tendered pursuant to a tender or exchange offer made
by such Person or any of such Person’s Affiliates or Associates until such tendered Stock is accepted for purchase or exchange; or (B) the right to vote such Stock pursuant to any agreement, arrangement or understanding; provided, however,
that a Person shall not be deemed the owner of any Stock because of such Person’s right to vote such Stock if the agreement, arrangement or understanding to vote such Stock arises solely from a revocable proxy or consent given in response to a
proxy or consent solicitation made to 10 or more Persons; or has any agreement, arrangement or understanding for the purpose of acquiring, holding, voting (except voting pursuant to a revocable proxy or consent as described in (B) of this
Section 4(f) of ARTICLE ELEVEN), or disposing of such Stock with any other Person that beneficially owns, or whose affiliates or associates beneficially own, directly or indirectly, such Stock; provided, that, for the purpose of determining
whether a Person is an Interested Stockholder, the Voting Stock of the Corporation deemed to be outstanding shall include Stock deemed to be owned by the Person through application of this definition of “owned” but shall not include any
other unissued Stock of the Corporation which may be issuable pursuant to any agreement, arrangement or understanding, or upon exercise of conversion rights, warrants or options, or otherwise; 

 

	 	(g)	“Person” means any individual, corporation, partnership, unincorporated association or other entity; 

 

	 	(h)	“Stock” means, with respect to any corporation, capital stock and, with respect to any other entity, any equity interest; and 

 

 13 

	 	(i)	“Voting Stock” means, with respect to any corporation, Stock of any class or series entitled to vote generally in the election of directors and, with respect
to any entity that is not a corporation, any equity interest entitled to vote generally in the election of the governing body of such entity. Every reference to a percentage of Voting Stock shall refer to such percentage of the votes of such Voting
Stock. 

 ARTICLE TWELVE 

The Corporation reserves the right to amend, alter, change or repeal any provision contained in this Certificate of
Incorporation, in the manner now or hereafter prescribed herein and by the laws of the State of Delaware, and all rights conferred upon stockholders herein are granted subject to this reservation. Notwithstanding any other provision of this
Certificate of Incorporation or the Bylaws of the Corporation, and notwithstanding the fact that a lesser percentage or separate class vote may be specified by law or otherwise, but in addition to any affirmative vote of the holders of any
particular class or series of the capital stock required by law or otherwise, the affirmative vote of the holders of at least sixty-six and two-thirds percent
(66 2/3%) of the voting power of all outstanding
shares of capital stock of the Corporation entitled to vote generally in the election of directors, voting together as a single class, shall be required to adopt any provision inconsistent with, to amend, alter, change or repeal any provision of, or
to adopt a bylaw inconsistent with, ARTICLES SEVEN, EIGHT, NINE, ELEVEN and TWELVE of this Certificate of Incorporation. 

*    *    *    *    * 

 

 14 

 I, THE UNDERSIGNED, being the sole incorporator hereinbefore named, for
the purpose of forming a corporation pursuant to the General Corporation Law of the State of Delaware, do make this certificate, hereby declaring and certifying that this is my act and deed and the facts stated herein are true, and accordingly have
hereunto set my hand on the 12th day of May, 2010.

  

	
	 /s/ Matthew C. Moellering

	Matthew C. Moellering
	Sole Incorporator

  

 15

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