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EXHIBIT 10.3    
    

CAPITAL ASSURANCE AND LIQUIDITY MAINTENANCE AGREEMENT  

        This Capital Assurance and Liquidity Maintenance Agreement ("Agreement") is entered into, and is effective as of, the 28th day of August, 2003, by and between
World Financial Network National Bank, Gahanna, Ohio ("Bank") and Alliance Data Systems Corporation ("ADS" or "Parent"), a Delaware corporation. 

RECITALS  

        A.    The Office of the Comptroller of the Currency ("OCC"), on the 8th day of August, 2003, has conditionally approved the Bank's application to
purchase certain of the assets of Granite National Bank, Bowling Green, Ohio ("Application"); and 

        B.    The
Parent is the sole stockholder of Bank; and 

        C.    In
consideration of the mutual covenants and promises set forth herein, and other good and valuable consideration, the receipt and sufficiency of which is expressly
acknowledged by both parties, the Bank and the Parent hereby enter into this Agreement setting forth the Parent's obligations to provide to the Bank necessary capital and liquidity support, in order
to ensure that the Bank continues to operate safely and soundly and in accordance with all applicable rules, regulations and conditions imposed in connection with the granting of the Application; and 

        D.    For
purposes of the OCC's regulations under 12 C.F.R. Part 6, this Agreement shall not be deemed to have been issued by the OCC, and shall not prevent the Bank
from being deemed "well capitalized" pursuant to the OCC's regulatory authority under 12 C.F.R. Part 6; and 

        E.    In
consideration of the mutual covenants and conditions contained herein, the parties to this Agreement hereby agree as follows: 

ARTICLES  

        1.    CAPITAL ASSURANCES.    

        A.    Initial and Ongoing Capital Requirements.    In accordance with conditions imposed in connection with the
granting of the Application and the terms of the Operating Agreement entered into by and between the Bank and the OCC on August 28, 2003 (the "Operating Agreement"), the Bank is required to
maintain, at a minimum, capital in the aggregate amount of: (i) the minimum capital required pursuant to 12 C.F.R. Part 3, Appendix A; or, if the Liquidity Reserve Deposit ("LRD")
Account provided for in the Agreement is required to be funded, (ii) the minimum capital required pursuant to 12 C.F.R. Part 3, Appendix A plus the amount in the LRD
Account (hereinafter, "Minimum Capital Requirements"). 

        B.    Bank's Obligation to Seek Parent's Assistance.    The Bank agrees that if it becomes necessary for it to secure
capital infusions so as to remain in compliance with the Minimum Capital Requirements the Bank shall promptly notify and request the Parent to make such capital contributions. 

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        C.    Capital Infusions from Parent.    Parent hereby agrees to make such capital infusions as may be requested by
Bank from time to time to ensure the Bank remains in compliance with its Minimum Capital Requirements. If at any time, the Bank's capital level falls below the Minimum Capital Requirements, the Parent
agrees it will, at the request of the Bank contribute sufficient additional capital in a form acceptable to the Bank, subject to the OCC's right to raise a supervisory objection, so as to return the
Bank's capital ratios to the Minimum Capital Requirements. Such capital contribution will be: (i) made not later than ten (10) business days after receiving notification of the capital
deficiency and request from the Bank or the OCC; (ii) in the form of cash, or if appropriate, other acceptable assets; and (iii) accounted for pursuant to Generally Accepted Accounting
Principles ("GAAP"). 

        2.    LIQUIDITY MAINTENANCE.    

        A.    Ongoing Liquidity Maintenance.    In accordance with conditions imposed in connection with the granting of the
Application the Agreement requires the Bank to maintain a minimum level of liquidity to meet the Bank's ongoing liquidity needs. The Bank agrees that if it becomes necessary for it to secure financial
assistance so as to meet its ongoing liquidity needs, the Bank shall promptly notify and request the Parent to provide such financial support. If the Bank experiences ongoing liquidity needs that it
cannot satisfy, the Parent agrees that within three (3) business days, or sooner if circumstances warrant, of receiving notification from the Bank or the OCC regarding these liquidity needs,
the Parent will provide the Bank with financial support, in such amount as required of the Bank under the terms of the Operating Agreement, form, as required of the Bank under the terms of the
Operating Agreement and duration as may be necessary for the Bank to meet its ongoing liquidity obligations. 

        B.    Liquidity Reserve Deposit Account Maintenance.    In accordance with conditions imposed in connection with the
granting of the Application the Agreement requires the Bank to establish and fund a Liquidity Reserve Deposit Account ("LRD Account") upon the occurrence of one or more Liquidity Triggering Events.
The Bank agrees that if it becomes necessary for it to secure financial assistance so as to meet its LRD Account needs, the Bank shall promptly notify and request the Parent to provide such financial
support. If the Bank experiences ongoing LRD Account needs that it cannot satisfy, the Parent agrees that within three (3) business days, or sooner if circumstances warrant, of receiving
notification from the Bank or the OCC regarding these LRD Account needs, the Parent will provide the Bank with financial support, in such amount as required of the Bank under the terms as required of
the Bank under the terms of the Operating Agreement, form as required of the Bank under the terms of Operating Agreement, and duration as may be necessary for the Bank to meet its LRD Account
obligations. 

        C.    Maintenance of Marketable Assets to Cover Brokered Deposits.    In accordance with conditions imposed in
connection with the granting of the Application the Agreement requires the Bank to at all times maintain sufficient marketable assets to cover 100% of the Bank's brokered deposits that will mature in
the ensuing six (6) months. The Bank agrees that if it becomes necessary for it to secure financial assistance so as to maintain marketable assets to meet its brokered deposit needs, the Bank
shall promptly notify and request the Parent to provide financial support. If the Bank experiences ongoing marketable asset needs to cover its brokered deposits that it cannot satisfy, the Parent
agrees that within three (3) business days, or sooner if circumstances warrant, of receiving notification from the Bank or the OCC regarding these marketable asset needs, the Parent will
provide the Bank with financial support, in such amount as required of the Bank under the terms of the Operating Agreement, form as required of the Bank under the terms of the Operating Agreement, and
duration as may be necessary for the Bank to meet its marketable asset needs. 

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        D.    Maintenance of Line of Credit.    In accordance with conditions imposed in connection with the granting of the
Application the Agreement requires the Bank to at all times maintain a line of credit from ADS or a successor parent company in an amount not less than One Hundred Million Dollars ($100,000,000). The
Parent agrees to provide the Bank with such line of credit. 

        3.    TERM AND TERMINATION OF AGREEMENT.    The term of this Agreement shall commence on the 28th day of
August 2003 ("Effective Date") and will continue unless terminated by mutual agreement of the Bank and the Parent. The Bank reserves the right to seek the OCC's supervisory
non-objection in writing prior to termination of this Agreement. 

        4.    MODIFICATION OR AMENDMENT OF AGREEMENT.    This Agreement may be modified or amended only by the mutual written
consent of both parties. The Bank reserves the right to seek the OCC's supervisory non-objection in writing prior to modifying or amending this Agreement. 

        5.    ASSIGNABILITY OF AGREEMENT.    This Agreement shall not be assigned, except that either party may assign its
rights and obligations under this Agreement without the approval of the other party to an entity which acquires all or substantially all of the assets of the assigning party or to any successor in a
merger or acquisition of the assigning party. 

        6.    SUCCESSORS IN INTEREST.    This Agreement shall remain in full force and effect against any successors in
interest to the Bank or the Parent. 

        7.    NOTICES.    All notices or other communications required hereunder shall be in writing and shall be made by
facsimile transmission, with a copy sent by certified mail, return receipt requested, to the following persons, addressed as follows: 

        if
to the Parent, to: 

Alliance
Data Systems Corporation

17655 Waterview Parkway

Dallas, Texas 75252

Facsimile: (972-348-5150

Attn: Alan M. Utay, General Counsel 

        if
to the Bank, to: 

World
Financial Network National Bank

800 Tech Center Drive

Gahanna, Ohio 43230

Facsimile: (614) 729-4899

Attn: Daniel T. Groomes, President 

Such
notice or communication shall be deemed to have been given or made as of the date that the notice or communication was delivered to the certified mail carrier. 

        8.    ENTIRE AGREEMENT.    This Agreement constitutes the entire agreement between the parties with respect to the
subject matter at issue, and all prior agreements, arrangements, and negotiations between the parties, whether oral or written, with respect to this Agreement are deemed to be merged herein. 

        9.    GOVERNING LAW.    To the extent that Federal law does not control, this Agreement shall be governed, construed
and controlled by the laws of Texas. 

        10.    SEVERABILITY.    If any portion of this Agreement shall be held by a court of competent jurisdiction to be
invalid or inoperative, then, so far as is reasonable and possible, the remainder of this Agreement shall be considered valid and operative, and effect will be given to the intent manifested by the
portion held invalid or inoperative. 

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        11.    CONFIDENTIALITY.    The Parent and the Bank understand and agree that the terms of this Agreement are
proprietary and confidential information and both parties further agree that they shall not disclose such information to any other person or entity without obtaining the other party's prior written
consent, except (i) for disclosure to the OCC or (ii) any other disclosure required by applicable law or regulation. 

        IN
WITNESS WHEREOF, the parties have executed this Agreement. 

	 	 	Alliance Data Systems Corporation
	

 	
 	

By:	
 	

/s/  J. MICHAEL PARKS      
 J. Michael Parks

Its: Chairman & CEO
	

 	
 	

World Financial Network National Bank
	

 	
 	

By:	
 	

/s/  DANIEL T. GROOMES      
 Daniel T. Groomes

Its: President

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EXHIBIT 10.112    
    

 
 

SEVERANCE AGREEMENT    
    

        This Severance Agreement (the "Agreement") is by and between Micron Technology, Inc., a Delaware corporation (the "Company"), and
                        , an individual and Officer of the Company, (the "Officer"), and is effective as of
                        . 

        WHEREAS,
the parties recognize that it is in the best interest of the Company to provide for a smooth transition when there is a change in management, and wish to recognize the valued
contributions of the Officer; and 

        WHEREAS,
the Company desires to provide the Officer with benefits in consideration for his execution of this Agreement and the instrument titled Agreement Not to Compete or Solicit (the
"Noncompete Agreement"); 

        NOW
THEREFORE, the parties agree as follows: 

        1.     TERMINATION
OF THE OFFICER.    Either the Company or the Officer may at any time terminate the Officer's active employment with the Company for any reason,
voluntary or involuntary, with or without cause, by providing notice to that effect in writing. The date such notice is received by the other party or, if earlier, the date of the Officer's death,
shall be deemed the "Termination Date." Upon receipt by the Officer of a notice of termination from the Company, or at any other time upon the Company's request, the Officer shall resign immediately
as an officer and/or director of the Company. 

        2.     EFFECT
OF TERMINATION.    Effective on the Termination Date, and for a period defined in paragraph 2(a) herein (the "Transition Period"), the Officer may
act as a consultant to the Company or, in the case of paragraph 2(b) herein, continue as a non-officer employee with the Company, provided in each case the parties so agree in
writing. 

        2(a). TRANSITION
PERIOD.    For purposes of this agreement, the "Transition Period" shall be one hundred and eighty-four (184) days plus the
amount, if any, of TOP time that the Officer has accrued as of the Termination Date. 

        2(b). CHANGE
OF OFFICER STATUS.    In the event that the Officer or the Company terminates the Officer's status as an officer of the Company but not as an
employee, both parties agree that such change in status will be treated as a termination for purposes of this Agreement, and that the date of such change in status will be deemed the Termination Date.
Following the Transition Period, the Officer shall be entitled only to such compensation and benefits as the Company may then provide for his services as an employee. In no circumstance shall
paragraph 3 herein be applicable to the Officer for a period longer than the Transition Period. 

        3.     BENEFITS
DURING THE TRANSITION PERIOD.    Provided the Officer complies with the terms of this Agreement and the terms of the Noncompete Agreement, the Officer,
or the Officer's estate in the event of the Officer's death, will receive during the Transition Period all compensation and benefits customarily provided to officers of the Company (or, in lieu of
participation in such benefits, at the Company's election, cash in an amount designed to make the Officer reasonably whole), including, but not limited to, salary, bonuses, executive bonuses, and the
continued vesting of any granted stock options, as if the Officer's employment as an officer had continued during the Transition Period. "Customarily provided" refers to Company practices and plans
with respect to officer benefits and compensation in effect as of the Termination Date. For purposes of this provision only, however, it is understood that the Officer, during the Transition Period,
is not entitled pursuant to this Agreement to any new grants of interest in future executive bonus pools, to any new grants of stock options or, except in the case where the Company terminates the
Officer's status as an officer of the Company but not as an employee, to the accrual of TOP time. It is further understood that the Officer is not entitled to payment of any compensation that is
deferred past the Transition Period due to payment criteria of an incentive program, as those criteria existed as of the Termination Date. No action by the Company 

or
the Company's Board of Directors may affect the Officer's receipt of the benefits set forth above, other than as provided herein. 

        4.     CONFIDENTIALITY.    The
reasons for, and circumstances of, an Officer's termination of employment or change in officer status shall be kept confidential and
shall not be disclosed; provided that the Company may disclose such information as the Company determines, in its sole discretion, is either required by law to be disclosed or necessary to be
disclosed to serve a valid business purpose. 

        5.     RELEASE.    Upon
receipt of all benefits under this Agreement, the Officer and Company settle, waive, and voluntarily release any and all claims each has or may
have against the other, inclusive of any of the Company's affiliates, officers, directors, employees or agents, both individually and in their official capacities, which claims are accruing prior to
the end of the Transition Period. 

        6.     FINAL
AGREEMENT.    Except as set forth below, this Agreement supersedes all prior agreements, and is the entire and final understanding of the parties as to
the subject matter hereof. This Agreement is in addition to, and does not supersede or modify in any fashion, the provisions of the Noncompete Agreement entered into by the parties hereto or the
provisions of any Assignment of Rights & Inventions and/or Confidential Information agreements previously executed by Officer in favor of Micron (collectively, "Additional Agreements"). The
obligations contained in the Additional Agreements shall continue independent of the obligations of one another and of this Agreement. For avoidance of doubt, the "Period of Restriction" as defined in
the Noncompete Agreement shall continue in full force and effect in accordance with the terms of the Noncompete Agreement and shall not be limited by the term of the Transition Period herein. 

        IN
WITNESS WHEREOF, the parties have executed this Agreement, effective as of                         . 

	

 	
 	

 	
 	

 	
 	

 
	MICRON TECHNOLOGY, INC.	 	OFFICER
	

    
	
 	

    

	By:	 	Steven R. Appleton

Chairman, CEO and President	 	Name:

Title:	 	 
	

    
 Date	
 	

    
 Date

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EXHIBIT 10.112

SEVERANCE AGREEMENT

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