Document:

EX-10.13

  

Exhibit 10.13

 
 
 
 AMENDED AND RESTATED
 EMPLOYMENT AGREEMENT
 
 

AGREEMENT (this “Agreement”) made as of the 12th day of February 2015 between LOEWS CORPORATION (the “Company”) and JONATHAN M. TISCH (the “Executive”).

 

W I T N E S S E T H:

 
 WHEREAS, the Executive is currently serving as an executive employee of the Company pursuant to that certain Amended and Restated Employment Agreement dated as of February 14, 2012 between the Company and
the Executive (as the same has been amended through the date hereof, the “Existing Agreement”); and
 
 

WHEREAS, the Company and
the Executive desire that the Executive’s employment be continued and that the Existing Agreement be amended and restated on the terms and conditions set forth herein.
 
 

NOW, THEREFORE, in
consideration of the premises and the covenants and agreements hereinafter set forth, the parties agree as follows:
 
 

1.    
     Term of Employment.  The Company does hereby engage and employ the Executive and the Executive hereby accepts such Employment in an executive
capacity, for a term commencing on the date hereof and continuing through March 31, 2016 (the “Term”).
 
 

2.    
     Duties.  The Executive accepts such employment and agrees that the Executive shall be employed as a senior executive officer of the Company and
as such shall perform the duties which he heretofore performed as a senior executive officer of the Company and such other duties, as may be required of him from time to time by the Board of Directors in keeping with his position as a senior
executive officer of the Company.  His office will be in New York City.
 
 

3.    
     Other Activities.  The Executive hereby agrees that during the Term he will not render services for any person, firm or corporation other than
the Company and its subsidiary and affiliated corporations; provided, however, that the Executive may continue to devote a reasonable portion of his time and attention to supervision of his own investments, to charitable and civic activities and to
membership on the Board of Directors or Trustees of other non-competitive companies or organizations, but only to the extent that the foregoing does not, in the aggregate, (a) require a significant portion of the Executive’s time or (b)
interfere or conflict with the performance of the Executive’s services under this Agreement.
 
 

4.    
     Compensation.  As basic compensation (“Basic Compensation”) for all of his services to the Company and its subsidiaries hereunder,
the Company will pay or cause to be paid to the Executive, during the term of his employment, a salary at the rate of Nine Hundred Seven Five Thousand ($975,000) Dollars per annum, payable in accordance with the Company’s customary payroll
practices, as in effect from time to time, and shall be subject to such increases as the Board of Directors of the Company, in its sole discretion may from time to time determine.
 

 
  
  
 
 
  
 

 
 
    

 
 

5.    
     Incentive Compensation Plan.  In addition to Basic Compensation, the Executive shall participate in the Incentive Compensation Plan for Executive
Officers of the Company (the “Compensation Plan”) and shall be eligible to receive incentive compensation under the Compensation Plan as may be awarded in accordance with its terms.

 
 6.         Other Compensation.  The compensation provided pursuant to this Agreement
shall be exclusive of compensation and fees, if any, to which the Executive may be entitled as an officer or director of a subsidiary of the Company.
 
 

7.    
     Benefits.  The Executive shall be entitled to participate in all employee benefit plans from time to time provided by the Company during the Term
which are generally available to the executive employees of the Company and as to which the Executive shall be eligible in accordance with the terms of such plans.
 
 

8.    
     Confidential Information.  The Executive shall keep confidential and shall not at any time reveal to anyone outside of the Company any
confidential or proprietary information, know-how or trade secrets (except as may be required in the furtherance of the Company’s business or objectives) pertaining to the business of the Company or any of its subsidiaries or
affiliates.  This obligation shall survive the termination of this Agreement and the employment of the Executive by the Company and its breach or threatened breach may be enjoined in any court of competent jurisdiction.

 
 9.         Miscellaneous.  This Agreement sets forth the entire understanding between
the parties with respect to the subject matter hereof and supersedes all prior understandings and agreements.  No change, termination or waiver of any of the provisions hereof shall be binding unless in writing and signed by the party
against whom the same is sought to be enforced.  The headings of the Agreement are for convenience of reference only and do not limit or otherwise affect the meaning hereof.  The Agreement shall be governed by and construed in
accordance with the laws of the State of New York.
 
 
 IN WITNESS WHEREOF, the parties hereto have caused these presents to be duly executed as of the day and year first above
written.
 
 
 
	      

	      

	 LOEWS CORPORATION
 

 
 
 
 
	      

	      

	  	  
	      

	      

	  	  
	      

	      

	 By:
 	
/s/  Gary W. Garson
 
	      

	      

	  	       Gary W.
Garson
 
	      

	      

	  	       Senior
Vice President
 
	      

	      

	  	      

	 ACCEPTED AND AGREED
TO:
 	      

	  	      

	  	      

	  	      

	 /s/
Jonathan M. Tisch
 	      

	  	      

	 Jonathan M. TischExhibit 4.1

 

EXECUTION VERSION

 

OMNIBUS SUPPLEMENT TO SPECIFIED INDENTURE
SUPPLEMENTS

 

THIS OMNIBUS SUPPLEMENT
TO SPECIFIED INDENTURE SUPPLEMENTS, dated as of February 18, 2015 (this “Agreement”), is entered into between:
(i) Synchrony Credit Card Master Note Trust, a Delaware statutory trust, as issuer (the “Issuer”); and (ii)
Deutsche Bank Trust Company Americas, a New York banking corporation, as indenture trustee under the Master Indenture referred
to below (in such capacity, the “Indenture Trustee”).

 

WHEREAS, the Indenture
Trustee and the Issuer are parties to (i) the Master Indenture, dated as of September 25, 2003, as amended by the Omnibus Amendment
No. 1 to Securitization Documents, dated as of February 9, 2004, among the Indenture Trustee, the Issuer and certain other parties,
the Second Amendment to Master Indenture, dated as of June 17, 2004, between the Issuer and the Indenture Trustee, the Third Amendment
to Master Indenture, dated as of August 31, 2006, between the Issuer and the Indenture Trustee, the Fourth Amendment to Master
Indenture, dated as of June 28, 2007, between the Issuer and the Indenture Trustee, the Fifth Amendment to Master Indenture, dated
as of May 22, 2008, between the Issuer and the Indenture Trustee, the Sixth Amendment to Master Indenture, dated as of August 7,
2009, between the Issuer and the Indenture Trustee, the Seventh Amendment to Master Indenture, dated as of January 21, 2014, between
the Issuer and the Indenture Trustee, and the Eighth Amendment to Master Indenture, dated as of March 11, 2014, between the Issuer
and the Indenture Trustee (as amended, the “Master Indenture”); (ii) the Second Amended and Restated Series
2009-VFN4 Indenture Supplement, dated as of March 25, 2013 (as amended and supplemented from time to time prior to the date hereof,
the “Series 2009-VFN4 Indenture Supplement”); (iii) the Series 2010-1 Indenture Supplement, dated as of March
31, 2010 (as amended and supplemented from time to time prior to the date hereof, the “Series 2010-1 Indenture Supplement”);
(iv) the Series 2010-2 Indenture Supplement, dated as of April 7, 2010 (as amended and supplemented from time to time prior to
the date hereof, the “Series 2010-2 Indenture Supplement”); (v) the Second Amended and Restated Series 2010-VFN1
Indenture Supplement, dated as of April 29, 2014 (as amended and supplemented from time to time prior to the date hereof, the “Series
2010-VFN1 Indenture Supplement”); (vi) the Amended and Restated Series 2010-VFN2 Indenture Supplement, dated as of April
24, 2014 (as amended and supplemented from time to time prior to the date hereof, the “Series 2010-VFN2 Indenture Supplement”);
(vii) the Series 2011-2 Indenture Supplement, dated as of June 16, 2011 (as amended and supplemented from time to time prior to
the date hereof, the “Series 2011-2 Indenture Supplement”); (viii) the Amended and Restated Series 2011-VFN1
Indenture Supplement, dated as of May 14, 2014 (as amended and supplemented from time to time prior to the date hereof, the “Series
2011-VFN1 Indenture Supplement”); (ix) the Series 2012-2 Indenture Supplement, dated as of February 2, 2012 (as amended
and supplemented from time to time prior to the date hereof, the “Series 2012-2 Indenture Supplement”); (x)
the Series 2012-3 Indenture Supplement, dated as of April 18, 2012 (as amended and supplemented from time to time prior to the
date hereof, the “Series 2012-3 Indenture Supplement”); (xi) the Series 2012-4 Indenture Supplement, dated as
of June 20, 2012 (as amended and supplemented from time to time prior to the date hereof, the “Series 2012-4 Indenture
Supplement”); (xii) the Series 2012-5 Indenture Supplement, dated as of June 20, 2012 (as amended and supplemented from
time to time prior to the date hereof, the “Series 2012-5 Indenture Supplement”); (xiii) the Series 2012-6 Indenture
Supplement, dated as of August 29, 2012 (as amended and supplemented from time to time prior to the date hereof, the “Series
2012-6 Indenture Supplement”); (xiv) the Series 2012-7 Indenture Supplement, dated as of October 17, 2012 (as amended
and supplemented from time to time prior to the date hereof, the “Series 2012-7 Indenture Supplement”); (xv)
the Amended and Restated Series 2012-VFN1 Indenture Supplement, dated as of April 15, 2014 (as amended and supplemented from time
to time prior to the date hereof, the “Series 2012-VFN1 Indenture Supplement”); (xvi) the Series 2013-1 Indenture
Supplement, dated as of March 26, 2013 (as amended and supplemented from time to time prior to the date hereof, the “Series
2013-1 Indenture Supplement”); (xvii) the Series 2014-VFN1 Indenture Supplement, dated as of April 10, 2014 (as amended
and supplemented from time to time prior to the date hereof, the “Series 2014-VFN1 Indenture Supplement”); (xviii)
the Series 2014-VFN2 Indenture Supplement, dated as of April 16, 2014 (as amended and supplemented from time to time prior to the
date hereof, the “Series 2014-VFN2 Indenture Supplement”); (xix) the Series 2014-VFN3 Indenture Supplement,
dated as of April 23, 2014 (as amended and supplemented from time to time prior to the date hereof, the “Series 2014-VFN3
Indenture Supplement”); (xx) the Series 2014-VFN4 Indenture Supplement, dated as of May 12, 2014 (as amended and supplemented
from time to time prior to the date hereof, the “Series 2014-VFN4 Indenture Supplement”); (xxi) the Series 2014-VFN5
Indenture Supplement, dated as of May 20, 2014 (as amended and supplemented from time to time prior to the date hereof, the “Series
2014-VFN5 Indenture Supplement”); and (xxii) the Series 2014-1 Indenture Supplement, dated as of November 20, 2014 (as
amended and supplemented from time to time prior to the date hereof, the “Series 2014-1 Indenture Supplement”);

 

    	 

    	 

    

 

WHEREAS, the parties
hereto intend to amend the Series 2010-1 Indenture Supplement, the Series 2010-2 Indenture Supplement, the Series 2011-2 Indenture
Supplement, the Series 2012-2 Indenture Supplement, the Series 2012-3 Indenture Supplement, the Series 2012-4 Indenture Supplement,
the Series 2012-5 Indenture Supplement, the Series 2012-6 Indenture Supplement, the Series 2012-7 Indenture Supplement, the Series
2013-1 Indenture Supplement and the Series 2014-1 Indenture Supplement (collectively referred to herein as the “Specified
Term Indenture Supplements”);

 

WHEREAS, the parties
hereto intend to amend the Series 2009-VFN4 Indenture Supplement, the Series 2010-VFN1 Indenture Supplement, the Series 2010-VFN2
Indenture Supplement, the Series 2011-VFN1 Indenture Supplement, the Series 2012-VFN1 Indenture Supplement, the Series 2014-VFN1
Indenture Supplement, the Series 2014-VFN2 Indenture Supplement, the Series 2014-VFN3 Indenture Supplement, the Series 2014-VFN4
Indenture Supplement and the Series 2014-VFN5 Indenture Supplement (collectively referred to herein as the “Specified
VFN Indenture Supplements” and, together with the Specified Term Indenture Supplements, the “Specified Indenture
Supplements”);

 

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WHEREAS, this Agreement
is being entered into pursuant to Section 9.1(b) of the Master Indenture and Section 8.1 of each Specified Indenture Supplement,
and all conditions precedent to the execution of this Agreement, as set forth in such Section 9.1(b) and each such Section 8.1,
have been satisfied; and

 

NOW, THEREFORE, in
consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto hereby agree as follows:

 

SECTION 1. DEFINITIONS.
As used herein, (a) capitalized terms which are defined in the preamble hereto shall have the meanings as so defined and (b) capitalized
terms not so defined shall have the meanings set forth in the Master Indenture or the applicable Specified Indenture Supplement,
as amended hereby.

 

SECTION
2. AMENDMENTS TO SPECIFIED INDENTURE SUPPLEMENTS. Each of the Specified Term Indenture Supplements is amended by
replacing in its entirety Section 4.12(a) thereof and each of the Specified VFN Indenture Supplements is amended by replacing in
its entirety Section 4.11(a) thereof, with the following:

 

(a)Except
as provided in the following sentence, to the extent there are uninvested amounts deposited in the Series Accounts, the Issuer
shall cause such amounts to be invested in Permitted Investments selected by the Issuer that mature no later than the following
Transfer Date. To the extent there are uninvested amounts deposited into any Series Account on a Transfer Date for distribution
on the related Payment Date, the Issuer shall cause such amounts to be invested overnight in Permitted Investments described in
clause (b) of the definition of “Permitted Investments” held at the Indenture Trustee or at a depository institution
or trust company that has entered into an agreement with the Issuer and the Indenture Trustee in accordance with the Custody and
Control Agreement.

 

SECTION 3. EFFECTIVENESS.
This Agreement shall become effective as of the date first set forth above; provided that (i) each of the Indenture Trustee
and the Issuer shall have executed and delivered a counterpart of this Agreement, (ii) the Rating Agency Condition shall have been
satisfied, and (iii) the Issuer shall have delivered to the Indenture Trustee (x) an Officer’s Certificate to the effect
that all requirements for this Agreement contained in the Master Indenture have been met and the Issuer reasonably believes that
such action will not result in an Adverse Effect and (y) a Tax Opinion. The Issuer shall provide written notice to the Indenture
Trustee upon satisfaction of the conditions in the preceding sentence.

 

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

 

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(b)Except as expressly
amended hereby, each Specified Indenture Supplement shall remain in full force and effect and is hereby ratified and confirmed
by the parties hereto.

 

SECTION 5. NO RECOURSE.
It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by BNY Mellon Trust
of Delaware, not individually or personally but solely as trustee of the Issuer, in the exercise of the powers and authority conferred
and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and
intended not as personal representations, undertakings and agreements by BNY Mellon Trust of Delaware but is made and intended
for the purpose of binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on BNY Mellon
Trust of Delaware, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability,
if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d)
under no circumstances shall BNY Mellon Trust of Delaware be personally liable for the payment of any indebtedness or expenses
of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken
by the Issuer under this Agreement or any other related documents.

 

SECTION 6. NO PETITION.
The Indenture Trustee covenants that it will not directly or indirectly institute or cause to be instituted against the Issuer
any bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding or other proceeding under any Federal or state
bankruptcy law unless Noteholders of not less than 662⁄3% of the Outstanding Principal Amount of each Class of each Series
has approved such filing and it will not directly or indirectly institute or cause to be instituted against the Transferor any
bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding or other proceeding under any Federal or state bankruptcy
law in any instance; provided, that the foregoing shall not in anyway limit the Noteholders’ rights to pursue any
other creditor rights or remedies that the Noteholders may have for claims against the Issuer.

 

SECTION 7. MISCELLANEOUS.
(a) THIS AGREEMENT AND THE OBLIGATIONS ARISING HEREUNDER SHALL IN ALL RESPECTS, INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY,
AND PERFORMANCE, BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING
SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW, BUT WITHOUT REGARD TO ANY OTHER CONFLICT OF LAWS PROVISIONS THEREOF) AND
ANY APPLICABLE LAWS OF THE UNITED STATES OF AMERICA.

 

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

 

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

 

 

*      *      *      *      *      *

 

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IN WITNESS WHEREOF, the parties hereto
have caused this Agreement to be duly executed as of the date first above written.

 

 

SYNCHRONY CREDIT CARD MASTER
NOTE TRUST,

as Issuer

 

By: BNY MELLON TRUST OF DELAWARE,
not in its

individual capacity, but solely as Trustee on behalf of the Issuer

 

 

By: /s/ Kristine K. Gullo                  

 

Name: Kristine K. Gullo                   

 

Title: Vice President                         

 

    	 	S-1	Omnibus
                                         Supplement to Specified Indenture Supplements

    	 

    

 

DEUTSCHE BANK TRUST COMPANY
AMERICAS, not

in its individual capacity, but solely as the Indenture Trustee

 

 

By: /s/ Mark Esposito                      

 

Name: Mark Esposito                       

 

Title: Assistant Vice
President          

 

 

 

By: /s/ Diana Vasconez                    

 

Name: Diana Vasconez                     

 

Title: Associate                                 

 

    	 	S-2	Omnibus Supplement to Specified Indenture Supplements

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