Document:

EXB 10.10 - First Amendment to Walmart MoneyCard Program Agreement

Exhibit 10.10
* Certain confidential information contained in this document, marked by asterisks, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

FIRST AMENDMENT
TO WALMART MONEYCARD PROGRAM AGREEMENT

 

This First Amendment To Walmart MoneyCard Program Agreement (this “Amendment”) by and among Wal-Mart Stores Texas L.P., Wal-Mart Louisiana, LLC, Wal-Mart Stores Arkansas, LLC, Wal-Mart Stores East, L.P., Wal-Mart Stores, Inc., GE Capital Retail Bank (f/k/a GE Money Bank) and Green Dot Corporation, and dated as of May 27, 2010 (the "Agreement"), is entered into as of January 12, 2012, by and among the foregoing parties. Each of the capitalized terms used in this Amendment and not otherwise defined shall have the meanings ascribed to them in the Agreement. 

For good and valuable consideration, the receipt and sufficiency of which is hereby 
acknowledged, the Parties hereby agree as follows: 

1. Background. The Parties wish to amend and restate Section 7.1 of the Agreement 
related to the marketing fund in accordance with the terms set forth in this Amendment. 

     2. Amendment of Section 7.1 in the Agreement. Section 7.1 is amended and restated as follows in its entirety: 

“7.1 Program management; Marketing & Promotion. 

(a) Each of Retailer and Green Dot shall contribute [*] percent 
([*]%) of the actual Program Revenue for certain Cardholder value propositions each 
Program Year (“Marketing Fund”). 

(b) In order to promote the Program, Retailer and Green Dot, in its role as program manager, will administer the Marketing Fund, as mutually agreed by Retailer and Green Dot, pursuant to this Section 7.1. Prior to the beginning of each Program Year, Retailer and Green Dot shall meet to plan Marketing Fund expenditures and set forth such expenditures in a written collaborative plan prepared by Retailer and Green Dot no later than January 15th of each Program Year (each such plan, a “Marketing Plan”). Retailer and Green Dot shall use best efforts to use the Marketing Fund in accordance with the Marketing Plan from the Program Year in which they are committed. In the event that Retailer and Green Dot do not agree on the use of the Marketing Fund in any given Program Year during the Term, any unallocated or unused portion of the Marketing Fund shall rollover for use in following Program Years in promoting the Program as set forth in this Section 7.1; provided, however, that upon the termination of this Agreement the cumulative amount of unallocated or unused Marketing Fund shall be payable equally to Retailer and Green Dot. On a monthly basis, the Retailer Program Representative and the Green Dot Program Representative shall adjust the forecast regarding use of the Marketing Fund and amend the Marketing Plan to reflect any changes mutually agreed by Retailer and Green Dot. 

* Confidential Treatment Requested.

(c) As part of their program manager functions, Green Dot will administer the Marketing Fund and maintain separate records for such Marketing Fund. Retailer will fund the Marketing Fund each month by having the monthly contribution deducted from its monthly commission payment from the Bank. Green Dot will provide Retailer with monthly reports on Marketing Fund expenditures and Retailer retains full audit rights for the Marketing Fund. 

(d) In the event that any portion of Retailer's contribution to the Marketing Fund is [*], Retailer shall [*] and Green Dot shall [*] by [*]. 

(d) Retailer and Green Dot agree that any shortfall in Marketing Fund funding for certain Cardholder value propositions shall be addressed in a mutually agreed upon manner. 

 (f) Subject to Section 7.1(b) and Section 15.4(e)(ii), the obligations of Retailer and Green Dot with respect to funding the Marketing Fund shall cease as of the Agreement Termination Date.” 

3. Effect of Amendment on Agreement. As amended hereby, the terms of the Agreement shall remain in full force and effect. 

4. Counterparts. This Amendment may be executed in counterparts, each of which shall be considered an original, but all of which together shall constitute the same instrument. 
 

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* Confidential Treatment Requested.

IN WITNESS WHEREOF, Bank, Green Dot and Retailer have caused this Amendment to be executed by their respective officers or agents thereunto duly authorized as of the date first above written. 

WAL-MART STORES, INC. 

By: /s/ Daniel Eckert
Name: Daniel Eckert
Title: Vice President

WAL-MART STORES ARKANSAS, LLC 

By: /s/ Daniel Eckert
Name: Daniel Eckert
Title: Vice President
 
WAL-MART STORES EAST, L.P. 

By: /s/ Daniel Eckert
Name: Daniel Eckert
Title: Vice President

WAL-MART STORES TEXAS L.P. 

By: /s/ Daniel Eckert
Name: Daniel Eckert
Title: Vice President

WAL-MART LOUISIANA, LLC     

By: /s/ Daniel Eckert
Name: Daniel Eckert
Title: Vice President

GE CAPITAL RETAIL BANK

By: /s/ Margaret Keane
Name: Margaret Keane
Title: CEO, GE Capital Retail Bank

GREEN DOT CORPORATION 

By: /s/ Steven W. Streit
Name: Steven W. Streit
Title: CEOEXB 10.14 - Material Terms Amendment to Agreement for Services

Exhibit 10.14
* Certain confidential information contained in this document, marked by asterisks, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

MATERIAL TERMS AMENDMENT TO AGREEMENT FOR SERVICES
(Processing Renewal Term and Minimum Fees)

THIS MATERIAL TERMS AMENDMENT TO AGREEMENT FOR SERVICES (this “Amendment”) is made and entered into as of January 19, 2012 (the “Amendment Effective Date”), by and between Total System Services, Inc., a Georgia corporation (“TSYS”) and Green Dot Corporation, a Delaware corporation (“Subscriber”).

A.WHEREAS, TSYS and Subscriber are parties to that certain Agreement for Services dated September 1, 2009 (as amended, the “Agreement”); and

B.WHEREAS, TSYS and Subscriber desire to further amend the Agreement as set forth herein, in accordance with Section 22 of the Agreement.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows:

1.Defined Terms.  Capitalized terms used but not otherwise defined herein shall have the meanings set forth in the Agreement.

2.Termination.  The Agreement is hereby amended by adding the following as a new Section 17.4 to the Agreement:

“17.4        Termination Upon Expiration.  This Agreement shall terminate upon the expiration of the Processing Term (as defined in the Processing Services Schedule).”

3.Exclusivity.  The Agreement is hereby amended by adding the following sentence to the end of Section 2.4 of the Processing Services Schedule:

“For purposes of clarity, the exclusivity obligation set forth in this Section 2.4 shall not apply during the Processing Renewal Term.”

4.Processing Renewal Term.  The Agreement is hereby amended by deleting Section 3.2 of the Processing Services Schedule in its entirety and replacing it with the following:

“3.2    Extension

The Processing Initial Term shall automatically renew for an additional two (2) year renewal term (the “Processing Renewal Term”).  Unless terminated earlier in accordance with the Processing Services Schedule or the Agreement, the Processing Services Schedule shall expire at the end of the Processing Renewal Term.  During the Processing Renewal Term, the parties shall work together on Deconversion pursuant to 4.3 of the Agreement.”

	
			
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5.Deconversion.  The Agreement is hereby amended by deleting the last sentence of Section 4.2 of the Processing Services Schedule in its entirety and replacing it with the following:

“Applicable Processing Fees related to a Startup, Conversion, Wind-down or Deconversion of the Processing Services are set forth in Exhibit 1B to this Processing Services Schedule; provided, however, the aggregate Processing Fees and Expenses related to [*] under this Agreement shall not exceed [*] ($[*]) during the Processing Term.”

6.Minimum Fees.  The Agreement is hereby amended by deleting Section 4.4 of the Processing Services Schedule in its entirety and replacing it with the following:

“4.4    Minimum Fees
Processing Initial Term
The [*], excluding the [*], [*] payable by Subscriber for [*] ($[*]).  For each [*], the [*] shall be [*] ($[*]) for [*] and [*] ($[*]) for [*].  For each [*], the [*] shall be as follows:  [*] ($[*]) for [*] ($[*]) for [*] ($[*]) for [*] ($[*]) for [*].

Processing Renewal Term
For each [*], the [*] shall be [*] ($[*]) for [*],[*] ($[*]) for [*], and [*] ($[*])[*].  For each [*], the [*] shall be [*] ($[*]) for [*], and [*] ($[*]) for [*].  If, at the end of any [*] in a [*], the actual [*] due to TSYS for such [*], less any [*], are less than the [*], then TSYS shall invoice Subscriber for the difference.”

7.Exhibit 1 B - Optional Services Notes.  The Agreement shall be amended by deleting in the entirety the Optional Services Notes in Exhibit 1B (Processing Services Fees and Expenses) of the Processing Services Schedule and replacing it with the following:

		
	“*
	During the Processing Term, TSYS will receive [*]% of Subscriber's personalized card production volumes (except for any [*]) for all BIN ranges currently being processed by TSYS.

	
			
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___________________________________
*    Confidential Treatment Requested.

±    NCOA can be ran from weekly to every four months.”

8.Conflict.  In the event of any conflict between the terms of the Agreement and this Amendment, this Amendment will control solely with respect to the subject matter herein.  The Agreement will otherwise control.

9.Effect of Amendment.  Except as specifically amended herein, the Agreement will remain in full force and effect in accordance with its terms.

10.Miscellaneous.  This Amendment may be executed by facsimile and in counterparts, each of which shall be deemed an original, and both of which when taken together shall be deemed one and the same instrument.  The Agreement, as amended hereby, sets forth the entire agreement of the parties with respect to the subject matter hereof and thereof, superseding any and all prior or contemporaneous agreements or understanding, whether written or oral, between the parties with respect to such subject matter.

IN WITNESS WHEREOF, the parties hereto have executed this Amendment on the day and year first above written.

	
		
	TOTAL SYSTEM SERVICES, INC.

By: /s/ William A. Pruett___________________
Name: Bill Pruett
Title:  Senior Executive Vice President,
President North America Sales
	GREEN DOT CORPORATION

By: /s/ Steve Streit_________________
Steve Streit
Chief Executive Officer

	
			
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