Document:

-----------------                     G-III                    -----------------
     NUMBER                     APPAREL GROUP, LTD.                  SHARES

-----------------                                              -----------------
              INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE

                                                             SEE REVERSE SIDE
                                                         FOR CERTAIN DEFINITIONS

                                                               -----------------
                                                               CUSIP 36237H 10 1
                                                               -----------------

--------------------------------------------------------------------------------
THIS CERTIFIES THAT

                                    SPECIMEN

is the owner of

--------------------------------------------------------------------------------

FULLY PAID AND NON-ASSESSABLE SHARES OF THE PAR VALUE OF $0.01 EACH OF THE
COMMON STOCK OF

-------------------------- G-III APPAREL GROUP, LTD. ---------------------------

transferable on the books of the Corporation by the holder hereof in person or
by duly authorized attorney on surrender of this certificate properly endorsed.
This certificate is not valid unless countersigned by the Transfer Agent and
Registrar.

                                     COMMON

     WITNESS the facsimile signatures of its duly authorized officers.

Dated:

             /s/ Illegible                         /s/ Illegible
             -------------                         -------------

             Secretary                             President

-----------------                     G-III                    -----------------
     NUMBER                     APPAREL GROUP, LTD.                  SHARES

-----------------                                              -----------------
              INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE

                                                             SEE REVERSE SIDE
                                                         FOR CERTAIN DEFINITIONS

                                                               -----------------
                                                               CUSIP 36237H 10 1
                                                               -----------------

--------------------------------------------------------------------------------
THIS CERTIFIES THAT

                                    SPECIMEN

is the owner of

--------------------------------------------------------------------------------

FULLY PAID AND NON-ASSESSABLE SHARES OF THE PAR VALUE OF $0.01 EACH OF THE
COMMON STOCK OF

-------------------------- G-III APPAREL GROUP, LTD. ---------------------------

transferable on the books of the Corporation by the holder hereof in person or
by duly authorized attorney on surrender of this certificate properly endorsed.
This certificate is not valid unless countersigned by the Transfer Agent and
Registrar.

                                     COMMON

     WITNESS the facsimile signatures of its duly authorized officers.

Dated:

             /s/ Illegible                         /s/ Illegible
             -------------                         -------------

             Secretary                             Presidentexv10w1

 

Exhibit 10.1

FIRST REVISED SERVICE AGREEMENT

     This AGREEMENT is dated as of this 17th day of May, 2000 by and between DISCOVER FINANCIAL
SERVICES, INC., a Delaware corporation (“DFS”) and GREENWOOD TRUST COMPANY, a Delaware bank
(“Greenwood”).

WITNESSETH:

     WHEREAS, DFS performs services for Greenwood in connection with marketing (including services
related to advertising, telemarketing, promotion, and ventures or partnerships with third parties);
credit card and other non-card loan products (including services related to credit approval, credit
processing, authorization, customer service, account servicing, payment processing and collection);
deposit products (including services related to the direct marketing, advertising and promotion of
deposit accounts); and various other services in connection with Greenwood’s bank products, as may
arise from time to time (collectively, the “Services”); and

     WHEREAS, it is the mutual desire of the parties that DFS continue to perform the Services.

     NOW, THEREFORE, in consideration of the mutual covenants herein contained, the parties hereto
agree as follows:

     1. Term. The term of this Agreement (“Term”) shall commence as of the date hereof and
shall continue in effect provided that either party can terminate this Agreement on any anniversary
date by written notice of termination to the other party at least one hundred eighty (180) days
prior to such anniversary date.

     2. Services. DFS shall perform the Services, which are described without limitation
in subparagraphs A through H, in accordance with all applicable federal and state laws, including
statutes, regulations and rules. DFS will not be responsible for violations of federal or state
law, including usury laws, fee restrictions or privacy laws, to the extent that DFS acts
consistently with directions or supervision received from Greenwood or its agents. DFS will be
responsible for its own negligent performance or failures to perform, including, as applicable, the
negligent failure to transmit or otherwise deliver required disclosures to Greenwood’s customers.
DFS may satisfy its obligations to perform hereunder either through its own employees or through
independent contractors that it chooses to retain. Greenwood will be solely responsible for
establishing the annual percentage yields and rates, insurance premiums, and other charges and fees
for its credit cards, deposit accounts and other products and for ensuring that such yields, rates,
premiums, charges or fees are in compliance with state and federal laws.

 

 

          A. Marketing Services. DFS will create and manage such marketing programs for
Greenwood’s bank products as Greenwood may request from time to time. These marketing programs may
incorporate, without limitation, direct mailings; telemarketing; special promotional events; visual
and broadcast advertisements delivered via traditional mass-media channels, the Internet or other
electronic communication devices; and ventures, partnerships or other cooperative marketing
arrangements with third parties. In performing these marketing services, DFS shall adhere to the
following conditions:

                (i) all marketing materials, including visual and broadcast advertisements and telemarketing
scripts, will be made available to Greenwood for its review and prior approval;

                (ii) all marketing materials, including visual and broadcast advertisements and telemarketing
scripts, will be prepared in accordance with the requirements of Greenwood’s Nondeposit Investment
Product Policy;

                (iii) the names, addresses and account numbers of Greenwood’s customers shall at all times
remain the exclusive property and confidential information of Greenwood and may be used by DFS
solely in connection with the performance of this Agreement and on such terms as Greenwood, in its
discretion, deems appropriate;

                (iv) any remuneration that DFS receives from third parties with whom DFS has contracted on
Greenwood’s behalf in furtherance of this Agreement including, but not limited to fees for
Shopper’s Lists, shall belong to Greenwood and must be conveyed to Greenwood as soon as practicable
whenever such remuneration is determined by the parties to constitute payment for the use of, or
access to, Greenwood’s customer lists or other proprietary information or property.

          B. Policy Manuals. DFS will create and maintain, upon the request of and in
coordination with Greenwood, policy and procedures manuals relating to the Services.

          C. Customer Service. DFS will provide telephone customer service for Greenwood’s bank
products, including twenty-four (24) hour, seven (7) day per week service for credit card accounts,
in accordance with mutually agreed upon procedures and standards.

          D. Fraud and Investigation Services. DFS will provide fraud investigative services
for Greenwood’s bank products utilizing mutually agreed upon procedures and standards.

          E. Reports. At the request of Greenwood, DFS will provide reports concerning customer
account activity and such other matters as Greenwood may designate in accordance with mutually
agreed upon procedures and standards.

2

 

          F. Information Technology and Support Services. DFS will provide information
technology support services.

          G. Collection Services. DFS will provide a collection procedure for Greenwood credit
card products and such other bank products as the parties mutually agree upon. DFS will not take
any legal action with respect to any Greenwood account without obtaining the prior consent of
Greenwood.

          H. Credit Services. DFS shall perform the following services in connection with
Greenwood’s credit card and such other loan products as the parties find mutually agreeable:

                (i) approving or denying applications for credit in accordance with Greenwood’s guidelines,
including credit scoring models supplied by Greenwood or, if requested by Greenwood, developed by
DFS and approved by Greenwood;

                (ii) furnishing authorizations for purchases;

                (iii) processing credit transactions;

                (iv) establishing and maintaining account records in a form satisfactory to Greenwood and
consistent with the computer programming parameters of DFS;

                (v) reporting information on Greenwood’s customers to the various credit bureaus;

                (vi) providing remittance processing services, which services shall include, without
limitation;

                (vii) embossing and distributing credit cards;

                (viii) preparing monthly statements in a form satisfactory to Greenwood and consistent with
the computer programming parameters of DFS; and

                (ix) providing monthly delinquency reports.

                (x) providing remittance processing services, which shall include without limitation:

	 	(a)	 	receiving remittances from
the U.S. Postal Service;

	 	(b)	 	sorting;

	 	(c)	 	opening envelopes and extracting contents;

	 	(d)	 	assigning a payment transaction date;

3

 

	 	(e)	 	converting remittance to
machine readable form (encoding/endorsing);
	 
	 	(f)	 	maintaining security over
all checks and cash received;
	 
	 	(g)	 	depositing funds on the
date received or no later than the next business day in a
bank designated by, and in an account in the name of,
Greenwood;
	 
	 	(h)	 	doing other research as
necessary to correctly apply payments to cardholders’
accounts; and
	 
	 	(i)	 	handling postdated and
returned checks, cash and returned card controls.

     3. Fees and Payments. The fees for the Services and the schedule and manner for
payment are set forth in Exhibit A, which is attached hereto and made a part hereof.

     4. Internal Control Review. At Greenwood’s request and expense, but no more
frequently than annually, DFS shall permit an independent accounting firm designated by Greenwood
to review DFS’s records and procedures relating to the Services. Such review shall be reasonable
in scope and duration and shall not interfere with DFS’s business operations. DFS shall provide
reasonable access to DFS facilities and records subject to reasonable DFS security and operating
procedures.

     5. Force Majeure. Neither party shall be liable to the other party for any failure,
inability, or delay in performing its obligations hereunder if such failure, inability, or delay
arises for reasons beyond its control, including, without limitation, acts of war, strike, fire,
explosion, sabotage, accident, or casualty.

     In the event of a delay in the performance or nonperformance at one or more of DFS’s
processing units, DFS shall provide for backup service at another DFS processing unit, and DFS
shall be responsible for any additional telephone charges incurred.

     6. Warranties and Representations.

          A. Greenwood represents and warrants that it is free, as of the date it signs this Agreement,
or will be free, as of the date of commencement of the Term, from any contractual obligation or
legal disability that would prevent Greenwood from entering into this Agreement, and that DFS’s
offer to provide the Services in no way caused or induced Greenwood to breach any contractual
obligations or legal requirements or regulations.

4

 

          B. DFS represents and warrants that it has the right to provide the Services to Greenwood in
accordance with this Agreement.

          C. DFS MAKES NO REPRESENTATIONS, WARRANTIES OR GUARANTEES, EXPRESS OR IMPLIED, INCLUDING,
WITHOUT LIMITATION, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR SPECIFIC PURPOSE, OTHER THAN
THE EXPRESS REPRESENTATIONS, WARRANTIES AND GUARANTEES CONTAINED IN THIS AGREEMENT.

          D. GREENWOOD MAKES NO REPRESENTATIONS, WARRANTIES OR GUARANTEES, EXPRESS OR IMPLIED,
INCLUDING, WITHOUT LIMITATION, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR SPECIFIC PURPOSE,
OTHER THAN THE EXPRESS REPRESENTATIONS, WARRANTIES AND GUARANTEES CONTAINED IN THIS AGREEMENT.

     7. Liability and Indemnification.

          A. DFS shall protect, defend, hold harmless and indemnify Greenwood, its employees, agents and
contractors, from and against any and all claims, actions, liabilities, losses, costs and expenses
arising out of DFS’s, its employees’, agents’ or contractors’ negligent performance of its
obligations under this Agreement.

          DFS shall not be liable to Greenwood for any claims, damages, losses or expenses arising out
of the performance of the services called for by this Agreement to the extent such claims, damages,
losses or expenses are due to causes that are in whole or in part beyond the control of DFS. Such
causes include, but are not limited to, computer and associated equipment outages, failure or
downtime affecting both the primary and backup systems which were not caused by DFS’s negligence.

          B. Greenwood shall protect, defend, hold harmless and indemnify DFS, its employees, agents and
contractors, from and against any and all claims, damages, losses or expenses arising out of
Greenwood’s employees’, agents’ or contractors’ negligent performance of its obligations under this
Agreement or Greenwood’s negligent direction of DFS’s performance of the services called for in
this Agreement.

          C. Notwithstanding anything contained herein to the contrary, neither party shall be liable to
the other for consequential or incidental damages.

     8. Notice. Any notice required to be given hereunder by either party to the other
shall be given in writing by personal delivery or certified mail, return receipt requested, and
shall be effective when received. Every such notice shall be addressed as follows:

5

 

If to DFS, to:

Discover Financial Services, Inc.

2500 Lake Cook Road

Riverwoods, Illinois 60015

Attention: President

and, if to Greenwood, to:

Greenwood Trust Company

12 Read’s Way

New Castle, DE 19720

Attention: President

     9. Confidential Nature of Data.

          A. DFS recognizes the confidentiality of all data and documents related to the accounts
receivable and credit services provided hereunder to Greenwood and its cardholders, and agrees to
exercise the same standard of care in the protection of said information as it uses to protect its
own confidential information. DFS shall provide and take all necessary and appropriate security
precautions to ensure that access to such data and documents is available only to those persons
required to perform the services hereunder and only to the extent necessary for them to perform
their work. DFS is authorized to release any information concerning such data and documents to any
independent contractor DFS retains in connection with DFS’s performance under this Agreement, but
only to the extent necessary for such contractor to perform work hereunder and only under terms
agreeable to Greenwood. DFS shall not sell any such data and documents or disclose the information
contained therein, except as expressly provided herein. DFS shall comply with any and all
file-safekeeping, record-keeping, and data backup procedures that may be required by applicable law
or such reasonable procedures required by Greenwood in connection with DFS’s performance of this
Agreement. Neither DFS nor its agents or employees shall divulge or communicate to any
unauthorized third party any information concerning such data and documents unless so required by
law or so directed by an authorized officer of Greenwood.

     B. Greenwood recognizes the confidentiality of all information regarding DFS’s business
practices designated as confidential by DFS that Greenwood may learn as a result of this Agreement
and agrees to exercise the same standard of care in the protection of said information as it uses
to protect its own confidential information.

     C. Upon termination of this Agreement, or upon Greenwood’s written request, DFS shall promptly
return to Greenwood the following Greenwood data, which is and shall remain the property of
Greenwood:

	 	(i)	 	Account master tape files;

	 	(ii)	 	Agent master tape files; and

6

 

	 	(iii)	 	Computer-produced reports which reflect
activity during the ninety (90) day period immediately prior to
termination of the Agreement or the written request.

          DFS shall cooperate with Greenwood to transfer Greenwood’s account servicing back to Greenwood
or to a new servicing organization. Upon the return of any such Greenwood data, and the transfer
of processing, DFS shall submit a bill to Greenwood for the cost incurred by DFS in returning such
Greenwood data and coordinating the transfer. Greenwood shall pay any such bill within thirty (30)
days of the receipt of such bill.

     10. General Conditions.

          A. The validity, construction and performance of this Agreement is governed by the laws of the
State of Delaware.

          B. All provisions contained in this Agreement extend to and are binding upon the parties and
their respective successors and assigns. This Agreement may not be assigned by either party
without the prior written consent of the other party, which consent will not be unreasonably
withheld.

          C. Each paragraph and provision of this Agreement is severable from the entire Agreement, and
if one provision hereof is declared invalid, the remaining provisions shall nevertheless remain in
effect.

          D. This document constitutes the entire Agreement between DFS and Greenwood with respect to
the services to be performed under this Agreement, and no representation or statement not contained
in this Agreement shall be binding upon DFS or Greenwood as a warranty or otherwise. This
Agreement may not be amended, changed, modified or altered except in writing, signed by both
parties. This Agreement constitutes the entire understanding between the parties and supersedes
all previous agreements and negotiations, whether written or oral, respecting the subject matter
hereof. This Agreement replaces the agreement dated as of October 25, 1996, by and between
Greenwood and NOVUS Services, Inc. (DFS’ predecessor).

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

	 	 	 	 	 	 	 	 	 
	DISCOVER FINANCIAL SERVICES, INC.	 	 	 	GREENWOOD TRUST COMPANY
	 
	 	 	 	 	 	 	 	 
	By:

	 	/s/ Joseph A. Yob
	 	 	 	By:
	 	/s/ J. Nathan Hill
	 

	 	 
	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 
	Title:

	 	Executive Vice President
	 	 
	 	Title:
	 	President, Chief Operating Officer
	 

	 	 
	 	 	 	 	 	 

7

 

Addendum to First Revised Servicing Agreement

          WHEREAS, Discover Bank (“Bank”) and Discover Financial Services, Inc. (“DFS”) are parties to a
Service Agreement dated May 17, 2000 (the “Agreement”), pursuant to which DFS provides various
services in connection with the Bank’s credit card accounts, personal loans and national mortgage
loans; and

          WHEREAS, those parties mutually desire to amend the Agreement in order to clarify that the
information security systems of DFS satisfy the Interagency Guidelines for Safeguarding Customer
Information, which are set forth in part 364, Appendix B of the FDIC Regulations.

          NOW, THEREFORE, the parties hereby mutually agree to delete the existing first sentence of
Section 9(A), Confidential Nature of Data, of the Agreement and to substitute in its place,
the following:

DFS recognizes the confidentiality of all data and documents

related to the Services provided hereunder and agrees to exercise

a standard of care in the protection of that information which is

consistent with the Interagency Guidelines for Safeguarding

Customer Information set forth in part 364, Appendix B of the FDIC

Regulations.

          IN WITNESS WHEREOF, the parties have caused this Addendum to be executed as of September 16,
2002.

	 	 	 	 	 	 	 	 	 
	DISCOVER FINANCIAL SERVICES, INC.	 	 	 	GREENWOOD TRUST COMPANY
	 
	 	 	 	 	 	 	 	 
	By:
	 	/s/ Kathryn McNamara Corley	 	 	 	By:	 	/s/ Michael F. Rickert
	 

	 	 
	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 
	Title:

	 	Senior Vice President and General
Counsel	 	 
	 	Title:	 	Vice President
	 

	 	 
	 	 	 	 	 	 

 

 

EXHIBIT A — Servicing Agreement

Discover Financial Services, Inc.

SERVICING FEES CHARGED TO DISCOVER BANK

EFFECTIVE DECEMBER 1, 2003

Discover Bank (“DB”) will pay DFSI for costs incurred by DFSI in its role of providing services for
cardmembers of Discover Bank. Each month, DFSI will determine the amount of expenses it incurs
associated with providing services to DB cardmembers and will invoice those costs to DB under the
servicing agreement. The amounts invoiced will be segregated into the following general categories:

Marketing

Risk and Database Management

Cardmember Service and Collections

Business Technology

In addition, DFSI may bill DB for various services and supplies which it obtains from other
providers in connection with servicing DB’s cardmembers. The amounts charged will be equal to the
amounts paid by DFSI. The items to be billed under this portion of the agreement can include, but
are not limited to, the following:

Advertising & Media

Promotional Marketing

Direct Mail

Marketing — Other

Inquiry Fees

Consumer Credit Counseling Fees

Collection Fees

Policy Adjustments/Fraud

Amounts paid to third parties for:

       —  Royalties

       —  Cardmember/Partner Rewards

If new categories of items arise that are procured from outside providers, DFSI will be allowed to
include them in the service fee charged, provided they are separately identified in the invoice to
DB, and a DB officer approves the new item on the invoice.

Cap
On Amount To Be Invoiced Under Servicing Fee

It is agreed that amounts invoiced by DFSI under the servicing agreement with DB will not cause
DB’s ratio of non interest expense to average managed loans for
the entire fiscal year to be more than the average of the same non
interest expense ratio for the group of peer banks for the most recently completed fiscal year for which information is available.

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