Document:

Terms Document

 Exhibit 4.2 
  
 CHASE ISSUANCE TRUST 
 as Issuer 
  
 CLASS
A(2005-2) TERMS DOCUMENT 
 dated as of May 4, 2005 
  
 to 
  
 AMENDED AND RESTATED 
 CHASESERIES
INDENTURE SUPPLEMENT 
 dated as of October 15, 2004 
  
 to 
  
 AMENDED AND RESTATED 
 INDENTURE

  
 dated as of October 15, 2004 
  
 WELLS FARGO BANK, NATIONAL ASSOCIATION 
 as Indenture Trustee and Collateral Agent 

 TABLE OF CONTENTS 
  

					
	 	 	 	  	PAGE

	ARTICLE I Definitions and Other Provisions of General Application
			
	Section 1.01	 	Definitions	  	1
	Section 1.02	 	Governing Law	  	4
	Section 1.03	 	Counterparts	  	4
	Section 1.04	 	Ratification of Indenture and Indenture Supplement	  	4
	
	ARTICLE II The Class A(2005-2) Notes
			
	Section 2.01	 	Creation and Designation	  	5
	Section 2.02	 	Specification of Required Subordinated Amount and Other Terms	  	5
	Section 2.03	 	Interest Payment	  	5
	Section 2.04	 	Calculation Agent; Determination of LIBOR	  	6
	Section 2.05	 	Payments of Interest and Principal	  	7
	Section 2.06	 	Form of Delivery of Class A(2005-2) Notes; Depository; Denominations	  	7
	Section 2.07	 	Delivery and Payment for the Class A(2005-2) Notes	  	8
	Section 2.08	 	Supplemental Indenture	  	8
	Section 2.09	 	Appointment of co-Paying Agent and co-Transfer Agent	  	8

 THIS CLASS A(2005-2) TERMS DOCUMENT (this “Terms Document”), by and between the CHASE ISSUANCE
TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), having its principal office at c/o Wilmington Trust Company, 1100 North Market Street, Wilmington, Delaware 19890-1600, and WELLS FARGO BANK, NATIONAL
ASSOCIATION, a national banking association, as indenture trustee (the “Indenture Trustee”) and collateral agent (the “Collateral Agent”), is made and entered into as of May 4, 2005. 
  
 Pursuant to this Terms Document, the Issuer and the Indenture Trustee shall
create a new Tranche of CHASEseries Class A Notes and shall specify the principal terms thereof. 
  
 ARTICLE I 
  
 Definitions and Other Provisions of General Application 
  
 Section 1.01 Definitions. For all purposes of this Terms Document, except as otherwise expressly provided or unless the context otherwise requires: 
  
 (1) the terms defined in this Article have the meanings assigned to them in this Article, and include the plural as well as
the singular; 
  
 (2) all other terms used herein which are
defined in the Indenture Supplement, the Indenture or the Asset Pool Supplement, either directly or by reference therein, have the meanings assigned to them therein; 
  
 (3) as used in this Terms Document and in any certificate or other document made or delivered pursuant hereto or thereto,
accounting terms not defined in this Terms Document or in any such certificate or other document, and accounting terms partly defined in this Terms Document or in any such certificate or other document to the extent not defined, shall have the
respective meanings given to them under GAAP. To the extent that the definitions of accounting terms in this Terms Document or in any such certificate or other document are inconsistent with the meanings of such terms under GAAP, the definitions
contained in this Terms Document or in any such certificate or other document shall control; 
  
 (4) the words “hereof,” “herein,” “hereunder” and words of similar import when used in this Terms Document shall refer to this Terms Document as a whole and not to any particular
provision of this Terms Document; references to any subsection, Section, clause, Schedule or Exhibit are references to subsections, Sections, clauses, Schedules and Exhibits in or to this Terms Document unless otherwise specified; the term
“including” means “including without limitation”; references to any law or regulation refer to that law or regulation as amended from time to time and include any successor law or regulation; references to any Person include that
Person’s successors and assigns; and references to any agreement refer to such agreement, as amended, supplemented or otherwise modified from time to time; 

 (5) in the event that any term or provision contained herein shall conflict with or be inconsistent with
any term or provision contained in the Indenture Supplement, the Indenture or the Asset Pool Supplement, the terms and provisions of this Terms Document shall be controlling; and 
  
 (6) each capitalized term defined herein shall relate only to the Class A(2005-2) Notes and no other Tranche of CHASEseries
Notes issued by the Issuer. 
  
 “Asset Pool
Supplement” means the Amended and Restated Asset Pool One Supplement to the Indenture, dated as of October 15, 2004, among the Issuer, the Indenture Trustee and the Collateral Agent. 
  
 “BDL” means Banque de Luxembourg. 
  
 “Class A(2005-2) Adverse Event” means the occurrence of any
of the following: (a) an Early Amortization Event with respect to the Class A(2005-2) Notes, (b) an Event of Default and acceleration of the Class A(2005-2) Notes, (c) the Class A Usage of the Class B Required Subordinated Amount for the Class
A(2005-2) Notes becomes greater than zero or (d) the Class A Usage of the Class C Required Subordinated Amount for the Class A(2005-2) Notes becomes greater than zero. 
  
 “Class A(2005-2) Note” means any Note, substantially in the form set forth in Exhibit A-1 to the Indenture
Supplement, designated therein as a Class A(2005-2) Note and duly executed and authenticated in accordance with the Indenture. 
  
 “Class A(2005-2) Noteholder” means a Person in whose name a Class A(2005-2) Note is registered in the Note Register. 
  
 “Class A(2005-2) Termination Date” means the earliest to
occur of (a) the Principal Payment Date on which the Outstanding Dollar Principal Amount of the Class A(2005-2) Notes is paid in full, (b) the Legal Maturity Date and (c) the date on which the Indenture is discharged and satisfied pursuant to
Article V thereof. 
  
 “Class A Required Subordinated
Amount of Class B Notes” is defined in Section 2.02(a). 
  
 “Class A Required Subordinated Amount of Class C Notes” is defined in Section 2.02(b). 
  
 “Controlled Accumulation Amount” means $50,000,000; provided, however, if the Accumulation Period Length is determined to
be less than twelve months pursuant to Section 3.12(b)(ii) of the Indenture Supplement, the Controlled Accumulation Amount for any Note Transfer Date with respect to the Class A(2005-2) Notes will be the amount specified in the definition of
“Controlled Accumulation Amount” in the Indenture Supplement. 
  
 “Indenture” means the Amended and Restated Indenture, dated as of October 15, 2004, between the Issuer and the Indenture Trustee. 
  

 2 

 “Indenture Supplement” means the Amended and Restated CHASEseries Indenture Supplement,
dated as of October 15, 2004, among the Issuer, the Indenture Trustee and the Collateral Agent. 
  
 “Initial Dollar Principal Amount” means $600,000,000. 
  
 “Interest Payment Date” means June 15, 2005 and the 15th day of each month thereafter, or if such 15th day
is not a Business Day, the next succeeding Business Day. 
  
 “Interest Period” means, with respect to any Interest Payment Date, the period from and including the previous Interest Payment Date (or in the case of the initial Interest Payment Date, from and including the Issuance
Date) to but excluding such Interest Payment Date. 
  
 “Issuance Date” means May 4, 2005. 
  
 “Legal Maturity Date” means December 15, 2014. 
  
 “LIBOR” means, for any Interest Period, the London interbank offered rate for one-month United States dollar deposits determined by the Trustee on the LIBOR Determination Date for each Interest Period
in accordance with the provisions of Section 2.04. 
  
 “LIBOR Determination Date” means (1) April 29, 2005 for the period from and including the Issuance Date through but excluding June 15, 2005 and (2) for each interest period thereafter, the second London Business Day prior
to the commencement of the second and each subsequent Interest Period. 
  
 “London Business Day” means any Business Day on which dealings in deposits in United States Dollars are transacted in the London interbank market. 
  
 “Note Interest Rate” means a rate per annum equal to 0.07% in excess of LIBOR as determined by the
Calculation Agent on the related LIBOR Determination Date with respect to each Interest Period. 
  
 “Paying Agent” means Wells Fargo Bank, National Association. 
  
 “Predecessor Note” means, with respect to any particular Note, every previous Note evidencing all or a
portion of the same debt as that evidenced by such particular Note; and, for the purpose of this definition, any Note authenticated and delivered under Section 3.06 of the Indenture in lieu of a mutilated, lost, destroyed or stolen Note shall be
deemed to evidence the same debt as the mutilated, lost, destroyed or stolen Note. 
  
 “Record Date” means, for any Note Transfer Date, the last Business Day of the preceding Monthly Period. 
  

 3 

 “Reference Banks” means four major banks in the London interbank market selected by the
Beneficiary. 
  
 “Scheduled Principal Payment
Date” means April 16, 2012. 
  
 “Stated Principal
Amount” means $600,000,000. 
  
 “Telerate Page
3750” means the display page currently so designated on the Bridge Telerate Market Report (or such other page as may replace that page on that service for the purpose of displaying comparable rates or prices). 
  
 Section 1.02 Governing Law. THIS TERMS DOCUMENT WILL BE CONSTRUED
IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF DELAWARE WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

  
 Section 1.03 Counterparts. This Terms Document may be
executed in any number of counterparts, each of which so executed will be deemed to be an original, but all such counterparts will together constitute but one and the same instrument. 
  
 Section 1.04 Ratification of Indenture and Indenture Supplement. As supplemented by this Terms Document, each of the
Indenture, the Asset Pool Supplement and the Indenture Supplement is in all respects ratified and confirmed and the Indenture as so supplemented by the Asset Pool Supplement and the Indenture Supplement as so supplemented by this Terms Document
shall be read, taken and construed as one and the same instrument. 
  
 [END OF ARTICLE I] 
  

 4 

 ARTICLE II 
  
 The Class A(2005-2) Notes 
  
 Section 2.01 Creation and Designation. There is hereby created a Tranche of CHASEseries Class A Notes to be issued pursuant to the Indenture and
the Indenture Supplement to be known as the “CHASEseries Class A(2005-2) Notes.” 
  
 Section 2.02 Specification of Required Subordinated Amount and Other Terms. 
  
 (a) For the Class A(2005-2) Notes for any date of determination, the Class A Required Subordinated Amount of Class B Notes will be an amount equal to
8.47953% of (i) prior to the occurrence of a Class A(2005-2) Adverse Event, the Adjusted Outstanding Dollar Principal Amount of the Class A(2005-2) Notes on such date of determination or (ii) on and after the date on which a Class A(2005-2) Adverse
Event shall have occurred, the greater of (1) the Adjusted Outstanding Dollar Principal Amount of the Class A(2005-2) Notes on such date of determination and (2) the Adjusted Outstanding Dollar Principal Amount of the Class A(2005-2) Notes as of the
close of business on the day immediately preceding the date on which such Class A(2005-2) Adverse Event shall have occurred. 
  
 (b) For the Class A(2005-2) Notes for any date of determination, the Class A Required Subordinated Amount of Class C Notes will be an amount equal to
8.47953% of (i) prior to the occurrence of a Class A(2005-2) Adverse Event, the Adjusted Outstanding Dollar Principal Amount of the Class A(2005-2) Notes on such date or (ii) on and after the date on which a Class A(2005-2) Adverse Event shall have
occurred, the greater of (1) the Adjusted Outstanding Dollar Principal Amount of the Class A(2005-2) Notes on such date of determination and (2) Adjusted Outstanding Dollar Principal Amount of the Class A(2005-2) Notes as of the close of business on
the day immediately preceding the date on which such Class A(2005-2) Adverse Event shall have occurred. 
  
 (c) The Issuer may change the percentages or the formulas set forth in either clause (a) or (b) above without the consent of any Noteholder so long as
the Issuer has (i) received written confirmation from each Note Rating Agency that has rated any Outstanding Class A(2005-2) Notes that the change in either of such percentages or formulas, as applicable, will not result in a Ratings Effect with
respect to any Outstanding Class A(2005-2) Notes and (ii) delivered to the Indenture Trustee and the Note Rating Agencies a Master Trust Tax Opinion and an Issuer Tax Opinion. 
  
 Section 2.03 Interest Payment. 
  
 (a) For each Interest Payment Date, the amount of interest due with respect to the Class A(2005-2) Notes shall be an amount
equal to the product of (i)(A) a fraction, the numerator of which is the actual number of days in the related 
  

 5 

 Interest Period and the denominator of which is 360, times (B) the Note Interest Rate in effect with respect to
the related Interest Period, times, (ii) the Outstanding Dollar Principal Amount of the Class A(2005-2) Notes determined as of the close of business on the Interest Payment Date preceding the related Note Transfer Date for the Class A(2005-2)
Notes; provided, however, that for the first Interest Payment Date, the amount of interest due with respect to the Class A(2005-2) Notes shall be an amount equal to the product of (x) the Outstanding Dollar Principal Amount of the
Class A(2005-2) Notes on the Issuance Date, (y) 42 divided by 360 and (z) the Note Interest Rate in effect with respect to the Class A(2005-2) Notes determined on April 29, 2005. Interest on the Class A(2005-2) Notes will be calculated on the basis
of the actual number of days elapsed and a 360-day year. 
  
 (b)
Pursuant to Section 3.03 of the Indenture Supplement, on each Note Transfer Date with respect to the Class A(2005-2) Notes, the Indenture Trustee shall deposit into the Class A(2005-2) Interest Funding Sub-Account the portion of CHASEseries
Available Finance Charge Collections allocable to the Class A(2005-2) Notes. 
  
 Section 2.04 Calculation Agent; Determination of LIBOR. 
  
 (a) The Issuer hereby agrees that for so long as any Class A(2005-2) Notes are Outstanding, there shall at all times be an agent appointed to calculate
LIBOR for each Interest Period (the “Calculation Agent”). The Issuer hereby initially appoints the Indenture Trustee as the Calculation Agent for purposes of determining LIBOR for each Interest Period. The Calculation Agent may be removed
by the Issuer at any time. If the Calculation Agent is unable or unwilling to act as such or is removed by the Issuer, or if the Calculation Agent fails to determine LIBOR for an Interest Period, the Issuer shall promptly appoint a replacement
Calculation Agent that does not control or is not controlled by or under common control with the Issuer or its Affiliates. The Calculation Agent may not resign its duties, and the Issuer may not remove the Calculation Agent, without a successor
having been duly appointed. 
  
 (b) On each LIBOR Determination
Date, the Calculation Agent shall determine LIBOR on the basis of the rate for deposits in United States dollars for a one-month period which appears on Telerate Page 3750 or on such comparable system as is customarily used to quote LIBOR as of
11:00 a.m., London time, on such date. If such rate does not appear on Telerate Page 3750 or on a comparable system as is customarily used to quote LIBOR the rate for that LIBOR Determination Date shall be determined on the basis of the rates at
which deposits in United States dollars are offered by the Reference Banks at approximately 11:00 a.m., London time, on that day to prime banks in the London interbank market for a one-month period. The Calculation Agent shall request the principal
London office of each of the Reference Banks to provide a quotation of its rate. If at least two such quotations are provided, the rate for that LIBOR Determination Date shall be the arithmetic mean of the quotations. If fewer than two quotations
are provided as requested, the rate for that LIBOR Determination Date will be the arithmetic mean of the rates quoted by major banks in New York City, selected by the Beneficiary, at approximately 11:00 a.m., New York City time, on that day for
loans in United States dollars to leading European banks for a one-month period. 
  

 6 

 (c) The Note Interest Rate applicable to the then current and the immediately preceding Interest Periods
may be obtained by telephoning the Indenture Trustee at its corporate trust office at (612) 667-8058 or such other telephone number as shall be designated by the Indenture Trustee for such purpose by prior written notice by the Indenture Trustee to
each Noteholder from time to time. 
  
 (d) On each LIBOR
Determination Date, the Calculation Agent shall send to the Indenture Trustee and the Beneficiary, by facsimile transmission, notification of LIBOR for the following Interest Period. 
  
 Section 2.05 Payments of Interest and Principal. 
  
 (a) Any installment of interest or principal payable on any Class A(2005-2) Note which is punctually paid or duly provided
for by the Issuer and the Indenture Trustee on the applicable Interest Payment Date or Principal Payment Date shall be paid by the Paying Agent to the Person in whose name such Class A(2005-2) Note (or one or more Predecessor Notes) is registered on
the Record Date, by wire transfer of immediately available funds to such Person’s account as has been designated by written instructions received by the Paying Agent from such Person not later than the close of business on the third Business
Day preceding the date of payment or, if no such account has been so designated, by check mailed first-class, postage prepaid to such Person’s address as it appears on the Note Register on such Record Date, except that with respect to Notes
registered on the Record Date in the name of the nominee of Cede & Co., payment shall be made by wire transfer in immediately available funds to the account designated by such nominee. 
  
 (b) The right of the Class A(2005-2) Noteholders to receive payments from
the Issuer will terminate on the first Business Day following the Class A(2005-2) Termination Date. 
  
 Section 2.06 Form of Delivery of Class A(2005-2) Notes; Depository; Denominations. 
  
 (a) The Class A(2005-2) Notes shall be delivered in the form of a global Registered Note as provided in Sections 2.02 and
3.01(i) of the Indenture, respectively. 
  
 (b) The Depository
for the Class A(2005-2) Notes shall be The Depository Trust Company, and the Class A(2005-2) Notes shall initially be registered in the name of Cede & Co., its nominee. 
  
 (c) The Class A(2005-2) Notes will be issued in minimum denominations of $1,000 and integral multiples of that amount.

  

 7 

 Section 2.07 Delivery and Payment for the Class A(2005-2) Notes. The Issuer shall execute and
deliver the Class A(2005-2) Notes to the Indenture Trustee for authentication, and the Indenture Trustee shall deliver the Class A(2005-2) Notes when authenticated, each in accordance with Section 3.03 of the Indenture. 
  
 Section 2.08 Supplemental Indenture. The Issuer may enter into a
supplemental indenture with respect to the Class A(2005-2) Notes as provided in Section 9.01 of the Indenture; provided, however, that any supplemental indenture which provides for an additional or alternative form of credit
enhancement for the Class A(2005-2) Notes shall, in addition to the requirements set forth in Section 9.01 of the Indenture, require confirmation from the Note Rating Agencies that have rated any Outstanding Notes of the CHASEseries that such change
in credit enhancement will not result in a Ratings Effect with respect to any Outstanding Notes of the CHASEseries. 
  
 Section 2.09 Appointment of co-Paying Agent and co-Transfer Agent. BDL is appointed as co-paying agent and as co-transfer agent in Luxembourg with
respect to the Class A(2005-2) Notes for so long as the Class A(2005-2) Notes are listed on the Luxembourg Stock Exchange. Any reference in this Terms Document, the Indenture Supplement, the Asset Pool Supplement and the Indenture to the Paying
Agent or the Transfer Agent shall be deemed to include BDL as co-paying agent or co-transfer agent, as the case may be, unless the context requires otherwise. 
  

[END OF ARTICLE II] 
  

 8 

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

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

	Name:	 	Keith Schuck
	Title:	 	President
	
	WELLS FARGO BANK, NATIONAL
ASSOCIATION, as Indenture Trustee and
Collateral Agent
		
	By:	 	 /s/ Cheryl Zimmerman

	Name:	 	Cheryl Zimmerman
	Title:	 	Assistant Vice President

  
 CHAIT A(2005-2)
Terms Document 
 Signature PageAgreement for Information Technology Services

 Confidential Treatment Requested. Confidential portions of this document have been redacted and have been
separately filed with the Securities and Exchange Commission 
  
 Exhibit 10(a) 
  

			
	[IBM logo]	  	/  [ADVO logo]

  
 ADVO, Inc.

  
 Agreement for Information Technology Services

  
 Amendment No. 11 
  
 ADVO Inc., (“ADVO”), a corporation having a place of business at One Targeting
Centre, Windsor, CT 06095, and International Business Machines Corporation, having its headquarters at Route 100, Somers, New York 10589 (“IBM”) agree that the following terms and conditions (this “Amendment”) amend and/or
supplement the Agreement for Information Technology Services (“the Base Agreement”), dated July 16, 1996, between ADVO and IBM. This Amendment changes the section(s) of the Base Agreement as indicated below. Unless modified herein, all
other terms defined in the Base Agreement and any previous Amendments shall have the same meaning when used in this Amendment. All terms and conditions of the Base Agreement and its subsequent Amendments not otherwise specifically amended or
supplemented herein remain unchanged and in full force and effect. 
  
 ADVO
and IBM may be referred to individually as a “Party” and collectively as the “Parties”. 
  
 This Amendment shall be effective as of April 1, 2005. 
  
 1.0 Background and Purpose: 
  
 The Parties have agreed to extend the Term of the Base Agreement to December 31, 2012. [***]. 
  
 The Parties mutually agree that all Schedules that are a part of this Base Agreement shall be reviewed and updated, as necessary, on or
before May 31, 2005 and reflected in a subsequent contract amendment to this Base Agreement. 
  
 2.0 Changes 
  

	 	1.	The Base Agreement will be extended to December 31, 2012, with the Charges detailed in “Supplement to Agreement for Information Technology Services – Amendment 11”.

  

	 	2.	[***]. 

  

	 	3.	[***]. 

  

	 	4.	[***]. 

  

	 	5.	[***]. 

  

	 	6.	[***]. 

  

	 	7.	[***]. 

  

	 	8.	All Services will be performed in a workmanlike manner and in accordance with industry standards and practices applicable to such services. 

  

	[***]	Information redacted pursuant to a confidential treatment request. An unredacted version has been filed separately with the Securities and Exchange Commission.

  

					
	IBM/ADVO Confidential	 	-1-	 	 

	 	9.	ADVO has the right to interview all ADM personnel assigned by IBM to provide Services, and reject personnel who ADVO determines, in its reasonable discretion do not meet the
position requirements. 

  

	 	10.	When commercially reasonable IBM will provide a minimum of 30 days advanced notice for ADM personnel leaving the account except for extenuating circumstances such as illness,
termination, and the like. 

  

	 	11.	ADVO reserves the right to request that IBM replace any IBM ADM provided resource that either does not meet the mutually agreed upon minimum competencies or does not perform
adequately in their assigned responsibilities. However, IBM shall have 30 days to resolve all ADVO concerns prior to replacement of any IBM ADM provided resource. 

  

	 	12.	IBM will make commercially reasonable efforts to fill open positions with full time replacements within 30 days of vacancy and will backfill open positions with temporary qualified
personnel as mutually agreed upon. 

  

	 	13.	[***]. 

  

	 	14.	Section 10.1 (Termination for Convenience) of the Agreement is hereby deleted and the following is substituted therefore: 

  
 ADVO may terminate this Agreement effective at any time on or after January
1, 2009 upon at least 180 days prior written notice to IBM. If ADVO terminates this Agreement prior to the expiration of the Term, other than as specified in Section 10.2, ADVO agrees to pay IBM on the effective date of the termination, the
Termination Charge, as specified in the Supplement, which the Parties agree is ADVO’s sole and exclusive liability for such termination. Following such termination, IBM shall provide to ADVO a credit in the amount of the Termination Charge to
be applied against any new IBM products or new IBM services that ADVO may elect to purchase within the twenty-four (24) months following such termination. 
  

	 	15.	Benchmarking Reviews 

  
 (a) From time to time during the Term after the second anniversary of the Effective Date of this Amendment (but no more often than once in any 12 month
period), ADVO may, subject to this Section, engage the services of an independent third party (a “Benchmarker”) to compare the quality and cost of the Services for some or all of the Services provided under the Agreement against the
quality provided and cost charged by other service providers to other entities receiving comparable services in order to ensure that ADVO is obtaining pricing and levels of service that are competitive with market rate prices and service levels,
given the nature, volume and type of Services being benchmarked (all of which will be described by the Parties in the benchmark agreement) (“Benchmarking”). The Benchmark will be designed to provide a representative comparison of the
benchmarked Services provided by vendors across various industries. ADVO and IBM shall each pay 50% of the fees and expenses charged by the Benchmarker (which fees will not be contingency-based). 
  
 ADVO and IBM expressly agree as of the Effective Date of this Amendment the
following constitutes a list of acceptable organizations to perform a Benchmark: 
  
 1) [***], and 
  
 2) [***] and 
  
 3) Any other independent third-party agreed upon by the Parties from time to time during the term. 
  
 (b) Any acceptable Benchmarker engaged by ADVO shall execute a
non-disclosure agreement reasonably satisfactory to IBM and ADVO. IBM shall cooperate fully with ADVO 
  

	[***]	Information redacted pursuant to a confidential treatment request. An unredacted version has been filed separately with the Securities and Exchange Commission.

  

					
	IBM/ADVO Confidential	 	Amendment No.11	 	Page 2

 
and the Benchmarker, provide all reasonable data relating to the provision of the Services requested by the Benchmarker (but in no event shall IBM be
required to provide IBM cost data or data relating to other IBM customers), provide reasonable access to the Benchmarker during such effort, all at IBM’s cost and expense. The Benchmarking shall be conducted so as not to unreasonably interfere
with IBM’s ability to perform the Services in accordance with the Performance Standards. 
  
 (c) ADVO will determine the scope of the study and the Services to be compared (the “Benchmarked Services”). The Benchmarker shall perform a
price-based benchmark, comparing the charges per hour applicable to each Skill Group applicable to the Benchmarked Services, against the charges per hour applicable to resources used to perform similar services for the selected entities in the
Representative Sample as such term is defined below. The comparison must determine and account for differences in the scope or circumstances of service delivery that impede a reasonable “like for like” comparison. Consequently, the
Benchmarker shall “normalize” the data used to perform the comparison in order to account for differences between the volume of services, scope of services, service levels, complexity, degree of standardization, terms and conditions, asset
purchases by IBM solely associated with the execution of this Agreement that have been approved, in writing, by ADVO, service delivery and receipt location(s) to the extent relevant, and other relevant factors and those applicable to the entities
comprising the Representative Sample. Such normalization must ensure that the results of the Benchmark provide as accurate a comparison as reasonably possible by making appropriate adjustments to all data relating to each of the selected entities in
the Representative Sample to account for any and all differences between the Benchmarked Services performed by IBM and the services received by the respective entity, including any additional and/or value added services required to be performed by
IBM under the Agreement and not received by such entity. IBM may elect to disclose to the Benchmarker additional measuring or estimating data, which the Benchmarker may consider and account for in its normalization calculations. For the purposes of
this Section: 
  
 (i) “Representative Sample” for
Benchmarked Services shall mean a sample of a minimum of four (4) entities proposed by the Benchmarker that shall only include customers with similar scope, service levels and volume and similar complexity as the Benchmarked Services. 
  
 (ii) “Benchmarked Level” shall mean the average charge per hour
for each Skill Group attributable to the Benchmarked Services among those entities comprising the Representative Sample. 
  
 (d) Prior to performing the comparison, the Benchmarker shall meet with the Parties to review and explain its Benchmark methodology, including how each
of entities in the Representative Sample matches and does not match the relevant factors of this Agreement and how the normalization approach will be applied. The Benchmarker shall provide a written summary of the Benchmark methodology and shall
perform the Benchmark substantially as described in its written summary. 
  
 (e) If the Benchmark Results indicate that the Benchmarked Level is [***]. 
  
 (f) If the Benchmarker finds that [***]. 
  
 (g) Review and Dispute. ADVO shall provide IBM with a copy of the Benchmarker’s report and IBM shall have 60 days to review such report, and contest
the Benchmarker’s findings. As part of such review, either Party may request the Benchmarker to provide sufficient information to allow the Party to validate the Benchmark, but neither Party shall be permitted to request the identity of the
third party service provider or any customer included in the Representative Sample. If the Parties are unable to agree upon the validity of the Benchmarker’s findings, the matter shall be resolved pursuant to the dispute resolution 

 

	[***]	Information redacted pursuant to a confidential treatment request. An unredacted version has been filed separately with the Securities and Exchange Commission.

  

					
	IBM/ADVO Confidential	 	Amendment No.11	 	Page 3

 
procedures set forth in Section 16.2. Any reductions or increases in IBM’s Charges shall be implemented on a prospective basis within 60 days after the
date the Benchmarker’s final report was first provided to IBM. Notwithstanding anything to the contrary herein, in the event that IBM disputes the validity of the Benchmarker’s findings or ADVO’s election to terminate the Agreement
pursuant to this provision, and IBM submits the dispute for resolutions pursuant to the dispute resolution procedures set forth in Section 16.2, IBM agrees that it will pay all of the Benchmarkers charges for supporting the Benchmark findings in
connection with any dispute that is escalated pursuant to Section 16.2 and all reasonable legal fees incurred by ADVO in the event that IBM elects to initiate proceedings for judicial resolution of the dispute.  
  
 REMAINDER OF PAGE INTENTIONALLY LEFT BLANK 
  

	[***]	Information redacted pursuant to a confidential treatment request. An unredacted version has been filed separately with the Securities and Exchange Commission.

  

					
	IBM/ADVO Confidential	 	Amendment No.11	 	Page 4

 THE PARTIES ACKNOWLEDGE THAT THEY HAVE READ THIS AMENDMENT, UNDERSTAND IT, AND AGREE TO BE BOUND BY ITS TERMS AND
CONDITIONS. FURTHER, THE PARTIES AGREE THAT THE COMPLETE AND EXCLUSIVE STATEMENT OF THE AGREEMENT BETWEEN THE PARTIES RELATING TO THIS SUBJECT SHALL CONSIST OF 1) THIS AMENDMENT, INCLUDING THE ATTACHMENTS TO THIS AMENDMENT; AND 2) THE BASE AGREEMENT
DATED JULY 16, 1996. THIS STATEMENT OF THE AMENDMENT SUPERSEDES ALL PROPOSALS OR OTHER PRIOR AGREEMENTS, ORAL OR WRITTEN, AND ALL OTHER COMMUNICATIONS BETWEEN THE PARTIES RELATING TO THE SUBJECT MATTER DESCRIBED IN THIS AMENDMENT. 
  

							
	Accepted by:	 	Accepted by:
		
	ADVO, Inc.	 	 International Business Machines
 Corporation

				
	By:	 	 /s/ S. SCOTT HARDING

	 	By:	 	 /s/ NORMAN KOREY

	 	 	Authorized Signature	 	 	 	Authorized Signature
				
	 	 	 S. Scott Harding

	 	 	 	 Norman Korey

	 	 	Name (Type or Print)	 	 	 	Name (Type or Print)
		
	Date: As of March 31, 2005	 	Date: April 1, 2005

  

	[***]	Information redacted pursuant to a confidential treatment request. An unredacted version has been filed separately with the Securities and Exchange Commission.

  

					
	IBM/ADVO Confidential	 	Amendment No.11	 	Page 5

 ADVO, Inc. 
  

Agreement for Information Technology Services 
  
 Supplement to 
  
 Agreement for Information Technology Services – Amendment 11 
  
 Name and Address of Customer: 
  
 ADVO, Inc. 
 One Targeting Centre 

Windsor, CT 06095 
  
 IBM Project Office Address: 
  
 IBM Project Executive 
 One Univac Lane

 Windsor, CT 06095 
  
 Term Commencement Date: July 16, 1996 
  
 Term End Date: December 31, 2012 
  
 ADM Annual Service Charge (ASC) 
  

																	
	 Year

	  	2005

	  	2006

	  	2007

	  	2008

	  	2009

	  	2010

	  	2011

	  	2012

	 Annual Service Charge (ASC) - ADM
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 Inflation Sensitivity Factor
	  	      [***]	  	      [***]	  	      [***]	  	      [***]	  	      [***]	  	      [***]	  	      [***]	  	      [***]
	 COLA
	  	[***]        	  	 	  	 	  	 	  	 	  	 	  	 	  	 
									
	ADM RRC Rates	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 
									
	 Year

	  	2005

	  	2006

	  	2007

	  	2008

	  	2009

	  	2010

	  	2011

	  	2012

	 $ per Resource Unit
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 	  	[***]        	  	 	  	 	  	 	  	 	  	 	  	 	  	 

  
 The Termination Charge
shall be an amount equal to (a) Unspent Minimum, if any, plus (b) [***] of the Unspent Commitment, if any. Unspent Minimum and Unspent Commitment shall be calculated as follows: 
  
 Unspent Minimum =[***] 
  
 Unspent Commitment =[***] 
  
 Where, 
  
 “Total ADM Spend” shall mean the aggregate amount paid by ADVO for ADM Services (including the ADM ASC and any ADM ARCs and including amounts
paid under the terms of any separate Statements of Work under the Agreement on or after January 1, 2006. 
  

	***	Monthly Baselines follow the IBM CLAIM month calendar which includes both four (4) week and five (5) week months. Monthly Resource Unit baselines are calculated by dividing (i) the Annual Resource Unit baseline by (ii) the total
number of weeks in the calendar year which provides the weekly Resource Unit baseline. To complete Monthly Baseline calculation, multiply (iii) the weekly Resource Unit baseline by (iii) the number of weeks in the appropriate CLAIM month.

	[***]	Information redacted pursuant to a confidential treatment request. An unredacted version has been filed separately with the Securities and Exchange Commission.

  

					
	 IBM/ADVO Confidential
	 	March 31, 2005	 	Page 1

			
	 Skill Group

	  	RU Weight

	 Maintenance
	  	[***]
	 DBA
	  	[***]
	 Developer
	  	[***]
	 Project Manager
	  	[***]
	 Architect
	  	[***]

  
 Note : Skill
Group weights for SDR are reflected in the SDR SOW. 
  
 Data Center ASC (Billed
only per sections 2.0(3), and 2.0(6) of the “Agreement for information Technology Services - Amendment No. 10” 
  

							
	 Year

	  	2005

	  	 1/1/2006 -
 6/30/2006

	  	 Monthly Charge
 after 6/30/2006

	 Annual Service Charge (ASC) - Data Center
	  	[***]	  	[***]	  	[***]
	 Mainframe Upgrade to 165 MIPS
	  	[***]	  	 	  	    [***]
	 Inflation Sensitivity Factor
	  	      [***]	  	    [***]	  	[***]
	 COLA
	  	Base Year = 1995; CPI-U = [**]

  
 Data Center Monthly baseline
(Billed only per sections 2.0(3), 2.0(4), and 2.0(6) of the “Agreement for information Technology Services - Amendment No. 10 
  

							
	 	  	2005

	  	 1/1/2006 -
 6/30/2006

	  	After 6/30/2006

	 CPU Utilization monthly Prime
	  	[***]	  	[***]	  	[***]
	 CPU Utilization monthly Non-Prime
	  	[***]	  	[***]	  	[***]
	 Tape Mounts
	  	[***]	  	[***]	  	[***]

 Data Center ARC Rates (Billed only per sections 2.0(3), 2.0(4), and 2.0(6) of the “Agreement for
information Technology Services - Amendment No. 10” 
  

							
	 	  	2005

	  	 1/1/2006 -
 6/30/2006

	  	After 6/30/2006

	 CPU Utilization Prime ($ per CPU Minute)
	  	[***]	  	[***]	  	[***]
	 CPU Utilization Non-Prime ($ per CPU Minute)
	  	[***]	  	[***]	  	[***]
	 Tape Mounts ($ per tape Mount)
	  	[***]	  	[***]	  	[***]

  
 Data Center RRC Rates (Billed only
per sections 2.0(3), 2.0(4), and 2.0(6) of the “Agreement for Information Technology Services - Amendment No. 10” 
  

							
	 	  	2005

	  	 1/1/2006 -
 6/30/2006

	  	After 6/30/2006

	 CPU Utilization Prime ($ per CPU Minute)
	  	[***]	  	[***]	  	[***]
	 CPU Utilization Non-Prime ($ per CPU Minute)
	  	[***]	  	[***]	  	[***]
	 Tape Mounts ($ per tape Mount)
	  	[***]	  	[***]	  	[***]

  

	[***]	Information redacted pursuant to a confidential treatment request. An unredacted version has been filed separately with the Securities and Exchange Commission.

  

					
	 IBM/ADVO Confidential
	 	March 31, 2005	 	Page 2

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