Document:

EXHIBIT 10.4.1

 

EXHIBIT 10.4.1

FIRST AMENDMENT TO GUARANTEE

     THIS FIRST AMENDMENT TO GUARANTEE (the “Amendment”), dated as of November 23, 2004, is made by
and among MASTERCARD INTERNATIONAL INCORPORATED, a Delaware non-stock membership corporation
(“MasterCard International”), MASTERCARD INCORPORATED, a Delaware stock corporation (“MasterCard
Incorporated”; MasterCard International and MasterCard Incorporated are hereinafter referred to
individually and collectively as “Guarantor”), and UMB BANK, & TRUST, N.A., a national banking
association (formerly known as State Street Bank and Trust of Missouri, N.A.), as Indenture Trustee
(the “Indenture Trustee”).

Recitals

     WHEREAS, MasterCard International delivered to the Indenture Trustee for the benefit of the
Noteholders under that certain Indenture, dated as of August 31, 1999 (as amended, supplemented,
extended or otherwise modified from time to time, the “Indenture”), that certain Guarantee, dated
as of August 31, 1999 (the “Guarantee”). Capitalized terms used in this Amendment and not defined
in this Amendment shall have the meanings ascribed to them in the Guarantee;

     WHEREAS, pursuant to the Guarantee, MasterCard International absolutely and unconditionally
guaranteed the full and prompt payment of certain debts, liabilities and obligations owed by MCI
O’Fallon 1999 Trust, a Delaware business trust (“MCI
O’Fallon”), to the Noteholders;

     WHEREAS, MasterCard International and related entities have undergone a corporate
restructuring wherein the ownership and control of MasterCard International was transferred to
MasterCard Incorporated;

     WHEREAS, in order to more accurately reflect the corporate structure of the Guarantor and
facilitate efficient and accurate compliance with the reporting and financial covenants set forth
in the Guarantee, MasterCard International and MasterCard Incorporated have requested that the
Indenture Trustee amend the Guarantee to add MasterCard Incorporated as an additional guarantor and
to make other changes consistent with Guarantor’s corporate structure;

     WHEREAS, Section 15(a) of the Guarantee provides that none of the provisions of the Guarantee
may be amended or modified, except as provided for in Section 11.1 of the Indenture;

     WHEREAS, Section 11.1 of the Indenture provides that the Indenture Trustee shall not enter
into any amendment or modification without the prior written consent of the Required Noteholders,
which constitutes the holders of more than 50% in principal amount of the Senior Secured Notes; and

 

 

     WHEREAS, the Required Noteholders have provided their written consent to this Amendment and
have authorized the Indenture Trustee to enter into this Amendment, copies of which written
consents are attached hereto as Exhibit A and are incorporated herein by this reference.

     NOW, THEREFORE, in consideration of the premises and of the mutual covenants and agreements
herein contained, it is agreed as follows:

     1. The Guarantee is hereby amended so as to add MasterCard Incorporated as an additional party
thereto and guarantor thereunder, jointly and severally, and to provide that all references to
“Guarantor” contained therein shall hereinafter refer to both MasterCard International and
MasterCard Incorporated, jointly and severally. All references to “Amendment” in the Guarantee
shall mean this Amendment.

     2. The introductory paragraph of Section 8 and subsections 8.1 through and including
subsection 8.16 of the Guarantee are hereby amended by deleting each reference to “Guarantor”
contained therein and inserting the term “MasterCard International” in lieu thereof, in order that
the representations and warranties contained therein shall be solely the representations and
warranties of MasterCard International and not both MasterCard International and MasterCard
Incorporated, collectively as Guarantor. Section 8 of the Guarantee is further amended by adding
the following provisions at the end thereof:

          “8.17. Representations and Warranties of MasterCard Incorporated. In order to induce
the Required Noteholders to consent to the Amendment and authorize the Indenture Trustee to enter
into the Amendment, MasterCard Incorporated hereby represents and warrants to the Indenture Trustee
and each Noteholder as of the date of the Amendment, as follows:

          (a) Financial Condition (i) The audited consolidated balance sheet of MasterCard
Incorporated at the end of its most recent fiscal year and the related consolidated statements of
income and comprehensive income, of changes in equity and of cash flows of MasterCard Incorporated
for the fiscal period ended on such date, reported on by its independent public accountants, and
(ii) the unaudited consolidated balance sheet of MasterCard Incorporated at the end of its most
recent fiscal quarter and the related consolidated statements of income and cash flows of
MasterCard Incorporated for the portion of the fiscal period ended on such date, which have been
filed in MasterCard Incorporated’s reports to the Securities and Exchange Commission (the “SEC”),
are complete and correct and present fairly (except, with respect to interim statements, for normal
year-end adjustments) the consolidated financial position of MasterCard Incorporated as of such
dates, and the consolidated results of operations and cash flows for the fiscal periods then ended
and, in the case of the statements referred to in the foregoing clause (ii), the portion of the
fiscal year through such date. All such financial statements, including the related schedules and
notes thereto in the case of statements referred to in the foregoing clause (ii), have been
prepared in accordance with

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GAAP applied consistently throughout the periods involved (except, with respect to interim
statements, for normal year-end adjustments and that such interim statements may be condensed and
exclude detailed footnote disclosure, and as disclosed therein). MasterCard Incorporated did not,
as of the date of any such financial statements, have any material obligation, contingent or
otherwise, which was not reflected in the foregoing statements or in the notes thereto and which,
individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect.

          (b) No Material Change. Since the date of the most recent financial statements
identified in subsection 8.17(a), (i) there has been no occurrence which, individually or in the
aggregate, could reasonably be expected to have a Material Adverse Effect, and (ii) other than as
disclosed in any report filed publicly with the SEC, MasterCard Incorporated has not, since such
date, incurred any material obligation, contingent or otherwise, which, individually or in the
aggregate, could reasonably be expected to have a Material Adverse Effect.

          (c) Corporate Existence; Compliance with Law. MasterCard Incorporated (a) is a stock
corporation duly organized, validly existing and in good standing under the laws of the
jurisdiction of its incorporation, (b) has the corporate power and authority and the legal right to
own and operate its property, to lease the property it operates and to conduct the business in
which it is currently engaged (except to the extent that the failure to possess such corporate
power and authority and such legal right, individually or in the aggregate, could not reasonably be
expected to have a Material Adverse Effect), (c) is duly qualified as a foreign corporation and in
good standing under the laws of each jurisdiction where its ownership, lease or operation of
property or the conduct of its business requires such qualification, except where the failure to be
so qualified, individually or in the aggregate, could not reasonably be expected to have a Material
Adverse Effect and (d) is in compliance with all Legal Requirements (including, without limitation,
CERCLA, any so-called “Superfund” or “Superlien” law, or any applicable federal, state, local or
other statute, law, ordinance, code, rule, regulation, order or decree regulating, relating to, or
imposing liability or standards of conduct concerning, any Hazardous Substances), except to the
extent that the failure to comply therewith, individually or in the aggregate, could not reasonably
be expected to have a Material Adverse Effect.

          (d) Corporate Power; Authorization. MasterCard Incorporated has the corporate power
and authority and the legal right to make, deliver and perform the Amendment. MasterCard
Incorporated has taken all necessary corporate action to authorize the execution, delivery and
performance of the Amendment. No consent or authorization of, or filing with, any Person
(including, without limitation, any Governmental Authority) is required in connection with the
execution, delivery or performance by MasterCard Incorporated or the validity or enforceability
against MasterCard Incorporated of the Amendment.

          (e) Enforceable Obligations. The Amendment has been duly executed and delivered on
behalf of MasterCard Incorporated and the Amendment constitutes the

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legal, valid and binding obligation of MasterCard Incorporated, enforceable against MasterCard
Incorporated in accordance with its terms, except as such enforceability may be limited by
applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting creditors’
rights generally and by general principles of equity (regardless of whether enforcement is sought
in a proceeding in equity or at law).

          (f) No Legal Bar. The performance of the Amendment will not violate any Legal
Requirement or any Contractual Obligation applicable to or binding upon MasterCard Incorporated or
any of its properties or assets, which violations, individually or in the aggregate, could
reasonably be expected to have a Material Adverse Effect, and will not result in the creation or
imposition of (or the obligation to create or impose) any Lien (other than Liens created under the
Security Documents) on any of its properties or assets pursuant to any Legal Requirement applicable
to it or any of its Contractual Obligations.

          (g) No Material Litigation. Except as disclosed in Schedule 8.7 or as previously
disclosed in any report filed with the SEC, no litigation, investigation known to MasterCard
Incorporated or proceeding of or by any Governmental Authority or any other Person is pending or,
to its knowledge, threatened against MasterCard Incorporated (a) with respect to the validity,
binding effect or enforceability of the Amendment, or (b) which, individually or in the aggregate,
could reasonably be expected to have a Material Adverse Effect.

          (h) Investment Company Act. MasterCard Incorporated is not an “investment company” or
a company “controlled” by an “investment company” (as each of the quoted terms is defined or used
in the Investment Company Act of 1940, as amended).

          (i) No Default. MasterCard Incorporated is not in default in the payment or
performance of any of its Contractual Obligations in any respect which, individually or in the
aggregate, could reasonably be expected to have a Material Adverse Effect. MasterCard Incorporated
is not in default under any order, award or decree of any Governmental Authority or arbitrator
binding upon or affecting it or by which any of its properties or assets may be bound or affected
in any respect which default, individually or in the aggregate, could reasonably be expected to
have a Material Adverse Effect, and no such order, award or decree, individually or in the
aggregate, could reasonably be expected to have a Material Adverse Effect.

          (j) Taxes. MasterCard Incorporated has filed or caused to be filed or has timely
requested an extension to file or has received an approved extension to file all tax returns which,
to the knowledge of MasterCard Incorporated, are required to have been filed, and has paid all
taxes shown to be due and payable on said returns or extension requests or on any assessments made
against it or any of its property and all other taxes, fees or other charges imposed on it or any
of its property by any Governmental Authority (other than those the amount or validity of which is
currently being contested in good faith by appropriate proceedings and with respect to which

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reserves in conformity with GAAP have been provided in the books of MasterCard Incorporated),
except where the failure to make or pay any such filings or taxes, fees or charges, individually or
in the aggregate, could not reasonably be expected to have a Material Adverse Effect; and, to the
knowledge of MasterCard Incorporated, no claims are being asserted with respect to any such taxes,
fees or other charges (other than those the amount or validity of which is currently being
contested in good faith by appropriate proceedings and with respect to which reserves in conformity
with GAAP have been provided in the books of MasterCard Incorporated), except where the failure to
pay any such taxes, fees or other charges, individually or in the aggregate, could not reasonably
be expected to have a Material Adverse Effect. The federal income tax liabilities of MasterCard
Incorporated have been determined by the United States Internal Revenue Service and paid for all
fiscal years up to and including the fiscal year ended December 31, 2003.

          (k) Ownership of Property; Liens. MasterCard Incorporated has good and marketable title to,
or valid and subsisting leasehold interests in, all of its real property, and good title to all its
material other property, except to the extent the failure to have such good title or valid
leasehold interest, individually or in the aggregate, could not reasonably be expected to have a
Material Adverse Effect; and none of such property is subject, except as permitted hereunder or
under the other Operative Agreements and except, as, individually or in the aggregate, could not
reasonably be expected to have a Material Adverse effect, to any Lien (including, without
limitation, federal, state and other tax Liens).

          (l) ERISA. No “prohibited transaction” (as defined in Section 406 of ERISA or Section
4975 of the Code) or “accumulated funding deficiency” (as defined in Section 302 of ERISA) or
Reportable Event (other than a Reportable Event with respect to which the 30-day notice requirement
under Section 4043 of ERISA has been waived) has occurred during the five years preceding each date
on which this representation is made or deemed made, or will occur, after giving effect to the
transactions contemplated by the Amendment, with respect to any Plan in any case the consequences
of which, individually or in the aggregate, could reasonably be expected to have a Material Adverse
Effect. The present value of all accrued benefits under each Single Employer Plan maintained by
MasterCard Incorporated or a Commonly Controlled Entity (based on those assumptions used to fund
such Plan) did not, as of the most recent annual valuation date in respect of each such Plan,
exceed the fair market value of the assets of the Plan (including for these purposes accrued but
unpaid contributions) allocable to such benefits by an amount which, individually or in the
aggregate, could reasonably be expected to have a Material Adverse Effect. The liability to which
MasterCard Incorporated or any Commonly Controlled Entity would become subject under ERISA if
MasterCard Incorporated or any such Commonly Controlled Entity were to withdraw completely from all
Multiemployer Plans as of the valuation date most closely preceding the date hereof would not have
a Material Adverse Effect. No Multiemployer Plan is either in Reorganization or Insolvent in any
case the consequences of which, individually or in the aggregate, could reasonably be expected to
have a Material Adverse Effect.

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          (m) Solvency. MasterCard Incorporated has received reasonably equivalent value in
exchange for guaranteeing the Guaranteed Obligations. The net cash flow and the fair saleable
value of the business and assets of MasterCard Incorporated, upon giving effect to the Amendment,
shall be not less than the amount that shall be required to pay the probable liabilities of
MasterCard Incorporated (including the Guaranteed Obligations and all contingent, fixed,
subordinated, unsubordinated, matured, unmatured, liquidated and unliquidated liabilities) on
existing debts as they may become absolute and matured. MasterCard Incorporated is not and, upon
giving effect to the Amendment shall not be “insolvent” (as defined in Title 11 of the United
States Code or under any applicable state fraudulent conveyance or transfer statute, in each case
as in effect from time to time), and shall not be engaged in any business or transaction, or about
to engage in any business or transaction, for which MasterCard Incorporated has an unreasonably
small capital, and MasterCard Incorporated has no intent (a) to hinder, delay or defraud any Person
to which MasterCard Incorporated is, or anticipates it shall become, indebted or (b) to incur
indebtedness that would be beyond its ability to pay as such indebtedness matures.”

               3. Subsections 9.1 and 9.2 are hereby amended by deleting each reference to “Guarantor”
contained therein and inserting the term “MasterCard Incorporated” in lieu thereof, in order that
the covenants and obligations of the “Guarantor” contained therein shall be covenants and
obligations of MasterCard Incorporated, only, and not MasterCard International.

          The financial statements required to be delivered pursuant to Subsection 9.1 shall be deemed
to have been delivered to the Noteholders on the date on which MasterCard Incorporated provides
written notice to the Noteholders that such information has been posted on its website on the
Internet at http://www.mastercardintl.com or is available on the website of the SEC or any
successor at http://www.sec.gov (to the extent such information has been posted or is
available as described in such notice). Any of the foregoing to the contrary notwithstanding,
MasterCard Incorporated herby agrees, upon the written request of a Noteholder, to provide to the
Trustee for such Noteholder hard (paper) copies of, or written notice of the posting with the SEC
website of, all quarterly reports prepared and filed with the SEC on form 10-Q and all annual
reports prepared and filed with the SEC on form 10-K or written.

     Subsection 9.2(d) is further amended to add at the end thereof:

“, provided that the filing of any such statement, report, notice or prospectus with the SEC shall
be deemed to have satisfied MasterCard Incorporated’s obligations under this subsection 9.2(d),
provided however, that MasterCard Incorporated herby agrees, upon the written request of a
Noteholder, to provide to the Trustee for such Noteholder hard (paper) copies of, or written notice
of the posting with the SEC website of, all quarterly reports prepared and filed with the SEC on
form 10-Q and all annual reports prepared and filed with the SEC on form 10-K.”

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     4. Subsection 9.2 (b) is hereby deleted and the following is added in lieu thereof:

“(b) within one hundred twenty (120) days after the end of each fiscal year and within sixty (60)
days after the end of each of the first three quarterly periods of each fiscal year of MasterCard
Incorporated, a certificate of a Responsible Officer of each of MasterCard International and
MasterCard Incorporated (i) stating that such officer has reviewed and is familiar with this
Guarantee and the other Operative Agreements and that, to the best of such officer’s knowledge,
the applicable Guarantor has observed or performed all of its covenants and other agreements, and
satisfied every condition, contained in this Guarantee, or in the other Operative Agreements to be
observed, performed or satisfied by it, and that such officer has obtained no knowledge of any
default under this Guarantee or any Lease Default or Lease Event of Default except as specified in
such certificate, and, in the case of MasterCard Incorporated, (ii) showing in detail as of the end
of the related fiscal period the figures and calculations supporting such statement in respect of
Section 10.1;”

     For purposes of Section 9, each reference to “Responsible Officer” shall mean the chief
executive officer, controller or treasurer of MasterCard Incorporated or MasterCard International,
as applicable.

     5. Subsection 9.7 (c) is hereby deleted and the following is added in lieu thereof:

“(c) any litigation or proceeding affecting the Guarantor, not covered by insurance, or in which
injunctive or similar relief is sought which, individually or in the aggregate, could reasonably be
expected to have a Material Adverse Effect;”

     6. Subsection 10.1 of the Guarantee is hereby deleted and the following is added in lieu
thereof:

“10.1 Consolidated Net Worth. Permit Consolidated Net Worth of MasterCard Incorporated at
any time to be less than the sum of (i) $525,000,000 plus (ii) an amount equal to 50% of the sum of
consolidated net income (if positive) of MasterCard Incorporated for each fiscal quarter commencing
with and including the first fiscal quarter of 2004.”

     7. Subsections 10.2 and 10.3 are hereby amended to provide that such covenants shall apply
only with respect to MasterCard International and by deleting each reference to “Guarantor”
contained therein and inserting the term “MasterCard International” in lieu thereof, in order that
the covenants and obligations contained therein shall be covenants and obligations of MasterCard
International, only, and not MasterCard Incorporated.

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     8. The following unnumbered paragraph is hereby added to the end of Section 10, immediately
preceding Section 11:

     “In addition to the foregoing, MasterCard Incorporated hereby agrees that so long as this
Guarantee is in effect and until the Guaranteed Obligations and all amounts owing hereunder are
indefeasibly paid in full, MasterCard Incorporated shall not, at any time, directly or indirectly
consolidate with or merge with, or convey, transfer or lease all or substantially all of its assets
in a single transaction or series of transactions to, any Person; provided that the foregoing
restriction shall not apply to the consolidation or merger of MasterCard Incorporated with, or
conveyance, transfer or lease of all or substantially all of the assets of MasterCard Incorporated
in a single transaction or a series of transactions to, any Person so long as (i) each such
corporation shall have executed and delivered to the Indenture Trustee and the Noteholders its
assumption of the due and punctual performance and observance of each covenant and condition of
this Guarantee; and (ii) immediately before and after giving effect to such transaction, no
Indenture Default or Indenture Event of Default or any default under this Guarantee would exist.”

     9. With respect to Subsection 12(b) of the Guarantee, notices to both MasterCard International
and MasterCard Incorporated, shall be addressed to the address or transmission number for notices
set forth opposite the signature of MasterCard International, as contained in the Guarantee.

     10. MasterCard International hereby reaffirms and remakes, and MasterCard Incorporated hereby
affirms and makes, its obligations to the Noteholders pursuant to the terms of the Guarantee, as
hereby amended.

     11. This Amendment shall be effective as of the date first written above, and any financial
statements or certificates provided after the date hereof pursuant to subsections 9.1 and 9.2 of
the Guarantee, including any statements in respect of Section 10.1 contained therein, shall comply
with the provisions of this Amendment, regardless of whether such financial statements or
certificates relate to a period prior to the date of this Amendment.

     12. Except for the amendments contained herein, all of the provisions of the Guarantee shall
remain unmodified. This Amendment shall be binding upon and inure to the benefit of the respective
successors and permitted assigns and, as applicable, the heirs and legal representatives of the
parties hereto. This Amendment, together with the Guarantee, as modified by this Amendment,
constitutes the entire understanding and agreement between the parties and may not be amended,
supplemented, or modified except by a writing executed by both of the parties.

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

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     IN WITNESS WHEREOF, this Amendment has been duly executed by the parties hereto as of the day
and year first above written.

	 	 	 	 	 
	 	MASTERCARD INTERNATIONAL INCORPORATED, 

a Delaware non-stock membership corporation

 	 
	 	By  	Andrea Robertson 	 
	 	 	Name:  	Andrea Robertson 	 
	 	 	Title:  	Senior Vice President and Treasurer 	 
	 
	 	MASTERCARD INCORPORATED, a Delaware stock

corporation

 	 
	 	By  	Andrea Robertson 	 
	 	 	Name:  	Andrea Robertson 	 
	 	 	Title:  	Treasurer 	 
	 
	 	UMB BANK & TRUST, N.A., a national banking

association, as Indenture Trustee

 	 
	 	By  	Brian P. Krippner 	 
	 	 	Name:  	Brian P. Krippner 	 
	 	 	Title:  	Vice President 	 
	 

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EXHIBIT A

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Schedule 8.7

None

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EXHIBIT 10.7.1

CERTAIN PORTIONS OF THIS EXHIBIT

HAVE BEEN OMITTED AND FILED

SEPARATELY WITH THE SECURITIES

AND EXCHANGE COMMISSION PURSUANT

TO A REQUEST FOR CONFIDENTIAL

TREATMENT. THE SYMBOL “****”

HAS BEEN INSERTED IN PLACE

OF THE PORTIONS SO OMITTED.

MasterCard International – Citibank, N.A Agreement

This agreement (“Agreement”), dated as of January 3, 2005, and effective as of the Effective
Date (as defined below), is made by and between MasterCard International Incorporated, a Delaware
corporation having its principal place of business at 2000 Purchase Street, Purchase, New York
10577-2509 (“MasterCard”), and Citibank, N.A., a national banking association having its principal
place of business at 399 Park Avenue, New York, New York 10022 (“Citibank”).

Whereas, certain Citibank Affiliates (as defined below) are licensed to issue MasterCard
Cards (as defined below) to individual consumers with billing addresses located in the Territory
(as defined below); and

Whereas, MasterCard and Citibank (each a “Party”, and together the “Parties”) desire to
enter into an arrangement by which MasterCard will provide certain pricing incentives in connection
with MasterCard Volume (as defined below) in the Territory;

Now, therefore, in consideration of the premises and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as
follows:

	1.  	Definitions.
	 
	1.1  	“Account” means the line of credit accessed by a Card.
	 
	1.2  	“Actual Payments” has the meaning ascribed to it in Section 2.1(b).
	 
	1.3  	“Affiliate” means, with respect to any Person, any other Person that, directly or indirectly
through one or more intermediaries, controls, is controlled by, or is under common control
with, such Person.
	 
	1.4  	“Annual Estimated Volume” has the meaning ascribed to it in Section 2.1(b).
	 
	1.5  	“Card” means any **** card or **** card that may be used to access a line of credit either to
make purchases at point of sale, whether actual or virtual, or to effect cash

 

 

	   	advances at bank branches or through automated teller machines. “Card” shall include the
Account associated with such card and the Account number or alternative modes of access to
the underlying Account (e.g., a virtual card or convenience check). **** .
	   	 
	 
	1.6  	“Citibank Issuers” means, as applicable, any or all Citibank Affiliates that are licensed to
issue MasterCard Cards to individual consumers with billing addresses located in the
Territory.
	 
	1.7  	“Commitments” means the obligations of each Party to the other Party contained in Articles 2
through 4 of this Agreement.
	 
	1.8  	“control” (including the terms “controlling”, “controlled by” and “under common control
with”) means the possession, directly or indirectly, of the power to direct or cause the
direction of the management and policies of a Person, whether through the ownership of voting
stock, by contract, or otherwise.
	 
	1.9  	“Core Issuer Services” means, **** .
	 
	1.10  	“Core Issuer Services Fees” shall mean all fees and assessments imposed by MasterCard on its
Members in accordance with the Rules from time to time in respect of Core Issuer Services for
such Members that are located in the Territory. **** .
	 
	1.11  	“Effective Date” means October 1, 2004.
	 
	1.12  	“Existing Agreement” means an agreement that is in effect between a Citibank Issuer and
MasterCard as of the Effective Date and that applies to a country or region within the
Territory. All Existing Agreements are identified on Schedule 1.12.
	 
	1.13  	“Governmental Authority” means any of the following with due jurisdiction over this
Agreement, either Party, or Citibank: (1) nation, state, county, city, town, borough, village,
district or other jurisdiction; (2) federal, state, local, municipal, foreign or other
government; (3) governmental authority of any nature (including any agency, branch,
department, board, commission, court, tribunal or other entity exercising due governmental
powers); (4) multinational organization or body; (5) body exercising, or entitled to exercise,
any administrative, executive, judicial, legislative, police, regulatory or taxing authority
or power; or (6) official of any of the foregoing.
	 
	1.14  	“Interim Period” means the period commencing on the Effective Date and ending on December 31,
2004.
	 
	1.15  	“Law” means, with respect to any Person, any law (including common law), ordinance, judgment,
order, decree, injunction, permit, statute, treaty, rule or regulation, regulatory bulletin or
guidance, regulatory examination, order or recommendation, or determination of (or agreement
with) an arbitrator or a Governmental Authority, applicable to such Person.
	 
	1.16  	“MasterCard Card” means any Card issued by Citibank Issuers containing the name,
logo, hologram or service marks of MasterCard or any of its Affiliates, and includes any

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	   	such Card that has MasterCard functionality or acceptance utility issued in accordance with
the Rules from time to time.
	   	 
	 
	1.17  	“MasterCard Standard Pricing” means the Core Issuer Services Fees that would apply to
Citibank Issuers in respect of MasterCard Volume for the applicable Interim Period or Year in
the absence of this Agreement. For the avoidance of doubt, MasterCard Standard Pricing
includes, without limitation, any pricing for Core Issuer Services Fees applicable to ****.
	 
	1.18  	“MasterCard Volume” means, for any period of calculation, **** .
	 
	1.19  	“Member” has the meaning ascribed to it in the Rules.
	 
	1.20  	“Person” means any individual, partnership, corporation (including business trust), limited
liability company, joint stock company, trust, unincorporated association, joint venture, or
other entity, or a government or any political subdivision or agency thereof.
	 
	1.21  	“QMR” means Quarterly Member Reporting pursuant to the Rules.
	 
	1.22  	“Rules” means the MasterCard Bylaws and Rules, and any other directive, memorandum, policy,
or other requirement imposed by MasterCard relating to MasterCard Cards, as such Bylaws and
Rules, directives, memoranda, policies, or other requirements may be amended from time to
time, to the extent the foregoing apply in the Territory.
	 
	1.23  	“Term” has the meaning ascribed to it in Section 6.1.
	 
	1.24  	“Territory” means **** .
	 
	1.25  	“User-Pay Services” means all optional Member-specific, customized, user-based or similarly
optional services offered or provided by MasterCard to a Member in the Territory in respect of
MasterCard Cards, the costs of which services are charged to specific participating Members.
“User-Pay Services” also includes any services that MasterCard offers or provides in
replacement for any of the foregoing referenced services.
	 
	1.26  	“Year” shall mean each 12 month period during the Term commencing on January 1, 2005.
	 
	1.27  	“Yearly True Up” has the meaning ascribed to it in Section 2.1(c).
	 
	2.  	MasterCard Support.
	 
	2.1  	MasterCard Core Issuer Services Fees.

	 	(a)  	During the Interim Period and each Year, in lieu of MasterCard Standard Pricing
for an applicable country or region in the Territory, the Core Issuer Services Fees for
MasterCard Volume in the Territory (other than any MasterCard Volume

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	 	   	described in Section 2.2 of this Agreement) shall be as set forth in the following
table:

	 	 	 	 	 
	 	 	 	 	Then the Core Issuer
	 	 	 	 	Services Fees for all
	 	 	If the aggregate MasterCard	 	MasterCard Volume in the
	 	 	Volume ****in the Territory	 	Territory for ****, as
	MasterCard Volume Tier	 	in a ****. . .	 	applicable, shall be . . .
	Tier 1

	 	<$****
	 	****
	Tier 2

	 	$**** < $****
	 	****bps
	Tier 3

	 	$**** < $****
	 	****bps
	Tier 4

	 	$**** < $****
	 	****bps
	Tier 5

	 	$**** < $****
	 	****bps
	Tier 6

	 	$**** < $****
	 	****bps
	Tier 7

	 	$**** < $****
	 	****bps
	Tier 8

	 	$**** < $****
	 	****bps
	Tier 9

	 	$**** < $****
	 	****bps
	Tier 10

	 	$**** < $****
	 	****bps
	Tier 11

	 	$**** < $****
	 	****bps
	Tier 12

	 	$**** +
	 	****bps

	 	   	The MasterCard Volume Tier actually achieved in the aggregate in the applicable
period shall determine the Core Issuer Services Fees applicable to all MasterCard
Volume during such period, in accordance with the preceding table. For example, if
Citibank Issuers generate $**** in MasterCard Volume during ****, then all such
MasterCard Volume shall receive Core Issuer Services Fees of **** bps, not merely
the MasterCard Volume that is at or in excess of $ **** (i.e., Core Issuer Services
Fees for ****shall be $**** x ****).
	 
	 	(b)  	(i)  In addition to any reporting required under the Rules, the Citibank
International Cards Group shall provide MasterCard, within thirty (30) days after the
end of each calendar quarter during the Term (except the last three such calendar
quarters), a forecast of MasterCard Volume in the Territory for the ensuing four
quarters, and, if reasonably requested by MasterCard, such other reports and
information as the Parties may mutually agree to review compliance under this
Agreement.

4

 

	 	   	(ii)  For the purposes of this Agreement, (A) with respect to the Interim Period and
(B) as of the commencement of each Year, based in part on the quarterly forecasting
report described in paragraph (i) of this Section 2.1(b), the Parties will mutually
agree upon **** (the “**** Volume”).
	 
	 	   	(iii)  Based solely on MasterCard Volume as reflected in QMR data in successive
calendar quarters after the original **** Volume is agreed upon, MasterCard may
reasonably revise the **** Volume used for the calculation of the Core Issuer
Services Fees in connection with any calendar quarter as it may deem necessary in
its reasonable discretion, provided that it shall consult with the Citibank
International Cards Group prior to making any such revision.
	 
	 	   	(iv)  Citibank Issuers shall continue to pay to MasterCard all fees in respect of
MasterCard Volume in the Territory at MasterCard Standard Pricing with the same
frequency as detailed in the MasterCard Consolidated Billing System (MCBS) manual
(the “Actual Payments”).
	 
	 	   	(v)  Within 45 days immediately following the last day of (A) the Interim Period and
(B) each calendar quarter of each Year, MasterCard shall make an appropriate
reconciliation of Citibank Issuers’ Actual Payments against the Core Issuer Services
Fees due for such Interim Period or calendar quarter pursuant to Section 2.1(a).
Such reconciliation shall assume ****. To the extent Actual Payments exceed the
applicable Core Issuer Service Fees for any quarter, the excess shall be due and
owing from MasterCard to Citibank Issuers.
	 
	 	   	(vi)  MasterCard shall promptly refund any amounts due and owing to Citibank Issuers
hereunder following each reconciliation described in paragraph (v) above in
accordance with Section 2.1(d).
	 
	 	(c)  	Within 45 days after the conclusion of the Interim Period and each Year,
MasterCard shall make an appropriate reconciliation of Citibank Issuers’ Actual
Payments (net of any refunds made on a calendar quarter basis pursuant to Section
2.1(b)) against the Core Issuer Services Fees due for such Year or Interim Period
calculated pursuant to Section 2.1(a), based upon the actual MasterCard Volume
generated in the Territory during, for such Interim Period, calendar year 2004, and for
each Year, such Year (in each case as reflected in the relevant QMR reports submitted
by Citibank Issuers) (the “Yearly True Up”). To the extent the Actual Payments exceed
the applicable Core Issuer Services Fees for such Year or Interim Period, the excess
shall be due and owing from MasterCard to Citibank Issuers. Following the Yearly True
Up, MasterCard shall promptly refund any amounts that may be due and owing to Citibank
Issuers as a result of the Yearly True Up in accordance with Section 2.1(d), or shall
withhold from the Core Issuer Services Fees refund for the first calendar quarter of
the immediately succeeding Year (or any successive quarters until such amount is repaid
in full) or any other refund due to Citibank Issuers under this Agreement, any amounts
that may be due and owing to MasterCard as a result of the Yearly True Up, as the case
may be.

5

 

	 	(d)  	(i)  MasterCard shall provide an integrated statement to the Citibank
International Cards Group (or such other entity designated by Citibank Issuers) within
45 days of the end of each and every quarterly and annual period during the Term, in
substantially the form set forth in Schedule 2.1(d) hereto, setting forth with respect
to the Core Issuer Services provided by MasterCard to Citibank Issuers in the Territory
during such period: (A) Actual Payments; (B) the total amount payable by Citibank
Issuers for the Core Issuer Services calculated in accordance with Section 2.1(a); and
(C) amounts owed by MasterCard to the relevant Citibank Issuer entities pursuant to
this Section 2.1.
	 
	 	   	(ii)  MasterCard shall make any or all refunds due hereunder by crediting, within 15
days after the date of delivery of the report described in paragraph (i) above, the
appropriate Citibank Issuer country-level designated account, as instructed by the
Citibank International Cards Group with respect to each quarterly and annual period
during the Term.
	 
	 	   	(iii)  Each report and payment made by MasterCard hereunder shall be accompanied by
adequate supporting documentation, including, without limitation, a quarterly
summary of invoices with respect to each and every MasterCard Card business in the
Territory together with supporting documentation, all in electronic format
(Microsoft Excel) via e-mail and CD-ROM.
	 
	 	(e)  	For tax purposes, the Parties agree to treat each of the refunds made, or
deemed to be made, pursuant to this Section 2.1 as if it was an adjustment to the fees
payable to MasterCard under or pursuant to the Rules.

	2.2  	Acquired Financial Institutions/Portfolios. ****.
	 
	2.3  	User Pay Services. ****.
	 
	3.  	Brand Commitments.
	 
	3.1  	Brand Commitments. Citibank Issuers shall use commercially reasonable efforts to maintain on
a cumulative basis MasterCard Volume, ****.
	 
	3.2  	Reporting on Conversion. The Citibank International Cards Group will provide notice to
MasterCard as soon as practicable after it becomes aware of a conversion of MasterCard Cards
that triggers, or would reasonably be determined to trigger, MasterCard’s termination right
contained in Section 6.2(b) hereof.
	 
	4.  	Existing and Future Agreements.
	 
	4.1  	Pricing Provisions of Existing Agreements. ****.
	 
	4.2  	Other Provisions of Existing Agreements. Other than as set forth in Section 4.1 above,
nothing contained in this Agreement shall affect any Person’s rights or obligations under

6

 

	   	any Existing Agreement, which rights and obligations shall continue in full force and effect
in accordance with their terms.
	   	 
	 
	4.3  	Future Agreements. The Parties acknowledge that they and their respective Affiliates expect
to continue to enter into country-specific agreements with respect to MasterCard Cards or
MasterCard Volume in the Territory from time to time. **** .
	 
	5.  	Confidentiality.
	 
	5.1  	In General. The terms of this Agreement and all information provided pursuant to or in
connection with either Party’s performance (and in the case of Citibank, including Citibank
Issuers’ performance) under this Agreement (“Confidential Information”) is confidential and
proprietary to the Party providing the Confidential Information (“Disclosing Party”) to the
other Party (“Receiving Party”). Notwithstanding the foregoing, Confidential Information
shall not include information which: (i) is or hereafter becomes part of the public domain
through no fault of the Receiving Party; (ii) is received from or furnished to a third party
without similar restriction on the third party’s rights; or (iii) is independently developed
by the Receiving Party. If the Receiving Party asserts that any exception set out in the
preceding sentence allows the disclosure of any Confidential Information, it shall promptly
submit to the Disclosing Party written documentation demonstrating the applicability of the
claimed exception.
	 
	5.2  	Use. The Receiving Party shall not use any Confidential Information provided by the
Disclosing Party for any purposes other than as permitted or required under this Agreement or
the Rules.
	 
	5.3  	Disclosure. Without the express written consent of the Disclosing Party, the Receiving Party
shall not disclose or provide access to any Confidential Information to any Person, with the
exception of (i) disclosure to any Affiliate, agent, representative, servant, contractor and
employee that has a need to know, for the purposes of complying with its obligations
hereunder, the specific Confidential Information, and that has agreed to keep confidential
such Confidential Information, or (ii) disclosure required by Law.
	 
	5.4  	Data Protection. In accordance with applicable Law, the Receiving Party shall take
reasonable measures, using the same care taken by such Party to safeguard its own confidential
and proprietary information, to prevent disclosure by its Affiliates, agents, representatives,
servants, contractors and employees of any Confidential Information.
	 
	5.5  	Post-Termination Obligations. Upon the conclusion of the Term, the Receiving Party shall,
upon request from the Disclosing Party, return or destroy all Confidential Information
provided by the Disclosing Party, including any summaries thereof, and all copies and
duplicates thereof (in whatever form maintained), except as may be otherwise required by Law.
	 
	5.6  	Remedies. The Parties acknowledge that the Confidential Information provided by the
Disclosing Party constitutes confidential and proprietary information of the Disclosing Party
and that use or disclosure thereof by the Receiving Party or any Affiliates, agents,
representatives, servants, contractors or employees of such Receiving Party, other than in

7

 

	   	accordance with the express terms of this Agreement or as otherwise authorized in writing by
a senior officer of the Disclosing Party, constitutes a material breach of the Agreement or,
after the Term, of such Disclosing Party’s continuing rights. In such event, the Parties
acknowledge that such Disclosing Party may immediately seek to obtain an order for
appropriate injunctive relief.
	   	 
	 
	5.7  	Notice. Each Party shall notify the other immediately of any loss or unauthorized disclosure
or use of Confidential Information that comes to such Party’s attention.
	 
	5.8  	Subpoenas, Etc. In the event that either Party receives a subpoena, court order or other
similar process purporting to require it to disclose Confidential Information, it shall
provide the other Party with written notice and documentation thereof as soon as practicable,
and shall cooperate with the other Party in the event that such other Party determines to seek
a protective order or other remedy with regard to such disclosure.
	 
	5.9  	No Public Announcement. Neither Party shall issue any public announcements or make any
published statements regarding this Agreement or the subject matter hereof, without the prior
written consent of the other Party; provided, however, that the Parties shall work together in
good faith to develop mutually-agreed upon responses to media inquiries concerning this
Agreement.
	 
	5.10  	Confidential Treatment. If MasterCard or Citibank (or any of its Affiliates) is required to
file this Agreement as an exhibit to any report or other filing with the Securities and
Exchange Commission (the “SEC”), such Party shall file with the Secretary of the SEC an
application requesting confidential treatment of the Agreement pursuant to Rule 24b-2 of the
Securities Exchange Act of 1934, as amended, at or about the time of such filing, provided
that no such filing shall be deemed to violate this Section 5.
	 
	6.  	Term and Termination
	 
	6.1  	Term. This Agreement shall commence as of the Effective Date and unless terminated earlier
in accordance herewith shall continue until **** (the “Term”).
	 
	6.2  	**** and **** Termination.

	 	(a)  	MasterCard may terminate this Agreement upon 30 days written notice to Citibank
(after which MasterCard Standard Pricing will apply) in the event **** .
	 
	 	(b)  	From and after commencement of the second Year hereunder, MasterCard may
terminate this Agreement upon 30 days written notice to Citibank (after which
MasterCard Standard Pricing will apply) in the event **** .

	6.3  	Termination — General. In addition to the termination rights specified in Sections 6.2 and
7.5(b) hereof:

	 	(a)  	Prior to the scheduled conclusion of the Term, either Party may terminate this
Agreement (after which MasterCard Standard Pricing will apply) by giving notice to the
other Party in the event that the other Party materially breaches any of its

8

 

	 	   	obligations under this Agreement, which breach is not cured within 30 days after
notice thereof, or if cure cannot be effected in such time, such additional time as
is necessary to cure using commercially reasonable efforts.
	 	   	 
	 
	 	(b)  	This Agreement will terminate immediately at the election of the non-breaching
Party (after which MasterCard Standard Pricing will apply) in the event that: (i) a
court of competent jurisdiction assumes custody, attaches or sequesters all or a
material portion of a Party’s property or assets, which custody, attachment or
sequestration is not suspended or terminated; (ii) a Party admits, in writing, its
inability to pay its debts generally as they become due; (iii) a Party becomes
insolvent (whether by balance sheet insolvency or a failure to meet obligations in the
ordinary course) or makes an assignment for the benefit of creditors; (iv) a Party
files any voluntary, or if there is filed against such Party an involuntary, petition
in bankruptcy under the United States Bankruptcy Code, or any similar bankruptcy or
insolvency laws of another jurisdiction (as now or in the future enacted or amended),
provided that in the event of any involuntary petition the breaching Party will have a
period of 30 days from the date of filing thereof to discharge the same; or (v) a Party
consents to the appointment of a receiver for all or a substantial portion of its
property or assets.

	6.4  	Survival. Except as otherwise provided herein, (i) the rights and obligations with respect
to any payment or refund in Article 2 shall survive through the making of any such payment or
refund; (ii) the obligations in Sections 2.1(e) and 7.3 shall survive for the applicable
statute of limitations periods, plus thirty (30) days; (iii) the obligations in Section 7.5
shall survive for the four calendar quarters, commencing with the calendar quarter immediately
following the quarter during which Citibank terminates this Agreement in accordance with its
terms; and (iv) the obligations in Article 5 and Sections 7.2, 7.7, 7.8, 7.9, 7.10, 7.11,
7.12, 7.13 and 7.14 shall survive any termination of this Agreement for a period of five (5)
years.
	 
	7.  	General Terms and Conditions.
	 
	7.1  	Reciprocal Obligations. Each Party acknowledges and agrees that its performance of its
Commitments is in consideration of the other Party’s performance of such other Party’s
Commitments.
	 
	7.2  	Remedies. Other than as specified in Section 5.6 hereof and Section 7.11 hereof (solely with
respect to the recovery of costs and attorneys’ fees in an arbitration proceeding conducted
pursuant to such Section 7.11) **** .
	 
	7.3  	Taxes. Each Party will be responsible for all tax reporting and tax payment obligations
incurred by it pursuant to, or in connection with, this Agreement.
	 
	7.4  	Yearly Performance Review. Upon the conclusion of the Interim Period and each of the first
two Years during the Term, the Citibank International Cards Group (or its designee) and
MasterCard, upon being given reasonable notice, shall meet to jointly review each

9

 

	   	Party’s compliance with its Commitments and the
attainment of the objectives of this Agreement.
	   	 
	 
	7.5  	MasterCard Assessments and Fees.

	 	(a)  	****.
	 
	 	(b)  	**** .

	7.6  	Rules. Nothing in this Agreement shall affect Citibank Issuers’ obligations under the Rules.
	 
	7.7  	Notices. Except as otherwise specifically provided herein, all notices relating to this
Agreement, must be in writing and will be deemed given upon hand delivery or upon receipt if
sent by an overnight courier delivery service of general commercial use and acceptance (i.e.,
Airborne, FedEx or UPS) to the following addresses or such other address as may be later
designated by notice given by the applicable Party:
	 
	   	If to Citibank or Citibank Issuers:

	 	 	 
	 

	 	Managing Director of Marketing, International Cards
	

	 	Citibank, N.A.
	

	 	One Court Square
	

	 	Long Island City, New York 11120
	

	 	 
	

	 	with a copy to General Counsel, Global Consumer Business, Citigroup Inc.,
399 Park Avenue, New York, NY 10022.
	

	 	 
	

	 	If to MasterCard:
	

	 	MasterCard International Incorporated
	

	 	2000 Purchase Street
	

	 	Purchase, New York 10577
	

	 	Attention: Gary Flood
	

	 	 
	

	 	with a copy to the office of the General Counsel at the same address.

	7.8  	Assignment. Neither Party may assign or otherwise convey this Agreement, or any of its
rights and obligations hereunder, to any third party without the prior written consent of the
other Party, which may be withheld in such Party’s sole discretion, and any such attempted
assignment without consent shall be void; provided, however, that, upon 30 days’ prior written
notice to the other Party, either Party may assign or transfer this Agreement in whole or in
part to an Affiliate with reasonably sufficient or comparable resources to perform the
assigned provisions hereof. If any Person acquires any interest in this Agreement or the
subject matter hereof in any manner, whether by voluntary or involuntary transfer, operation
of Law or otherwise, such interest shall be held subject to all of the terms of the Agreement
and by taking or holding such interest, such Person shall be conclusively deemed to have
agreed to be bound by, and to comply with, all of

10

 

	   	the terms and obligations of the Agreement, and the Parties shall use commercially
reasonable efforts to cause such Person to execute any applicable documents to reflect the
rights and obligations obtained by such Person. All rights, remedies and obligations of the
Parties shall accrue or apply solely thereto or to their permitted successors or assigns,
and there is no intent to benefit or obligate any other Person hereby.
	   	 
	 
	7.9  	No Violation. Notwithstanding anything else contained in this Agreement, neither MasterCard
nor Citibank (nor any of their respective Affiliates) shall, and none of them shall be
obligated to, take any action that such entity believes in good faith would violate, or would
cause any of them to violate, any Law.
	 
	7.10  	Representations, Warranties and Covenants.

	 	(a)  	Each Party covenants, represents and warrants to the other that on a continuing
basis during the Term, and for such additional period after the Term during which such
Party has not completed full performance of its obligations hereunder, that: (i) it is
duly organized, validly existing and in good standing under applicable Law and (ii) it
has full corporate power and authority to execute, deliver, and perform this Agreement
according to its terms, it possesses all licenses, consents, and approvals required to
do so, and the execution, delivery, and performance of this Agreement have been duly
authorized by it.
	 
	 	(b)  	Each Party represents and warrants to the other that as of the Effective Date
there are no actions, suits, or proceedings existing or pending against or affecting it
before any Governmental Authority which would have a material adverse effect on its
ability to perform its obligations hereunder except for proceedings which it is
contesting and challenging in good faith and which it does not reasonably believe will
result in a final order or decree materially affecting its ability to perform this
Agreement.

	7.11  	Dispute Resolution. The Parties will endeavor in good faith to promptly settle any disputes
relating to this Agreement (each a “Dispute”). If the appropriate members of each Party’s
management team cannot promptly settle a Dispute, senior executives from each Party will try
to resolve the dispute. If no resolution is reached then either Party may submit the Dispute
to the American Arbitration Association for binding arbitration. The Party prevailing in such
arbitration shall be entitled to a recovery of its costs and attorneys fees from the
non-prevailing Party. Subject to Section 5.6, the procedures included in this Section 7.11
will be the exclusive procedures for resolution of any and all Disputes.
	 
	7.12  	Choice of Law. This Agreement and the respective rights and obligations of the Parties shall
be governed by the laws of the State of New York, excluding any “conflict of laws” or similar
provisions that would mandate or permit application of the substantive law of any other
jurisdiction. Any action or proceeding to enforce this Agreement or any obligation stated
herein shall be commenced and prosecuted, if at all, only in a federal or state court located
within the City and State of New York and each Party hereby

11

 

	   	irrevocably agrees to consent to
jurisdiction in any such court and to
accept process in such action in the
manner set forth for notices herein.
	   	 
	 
	7.13  	Enforceability.

	 	(a)  	If one or more of the provisions contained herein shall, for any reason, be
held by a court of competent jurisdiction to be unenforceable or invalid in any respect
under applicable Law, such unenforceability or invalidity shall not affect any other
provision of this Agreement, and this Agreement shall then be construed as if such
unenforceable or invalid provisions had never been contained herein and the Parties
shall immediately commence negotiations in good faith to reform this Agreement to make
alternative provisions herein that reflect the intentions and purposes of the severed
provisions in a manner that does not run afoul of the basis for such unenforceability
or invalidity.
	 
	 	(b)  	Each Party’s waiver of any breach of any provision of this Agreement, or either
Party’s failure at any time to enforce any right or remedy available to it, shall not
be construed to be a waiver of such right or remedy with respect to any other prior,
concurrent or subsequent breach or failure by the other Party. Except as otherwise
provided herein, no waiver shall be effective unless made in writing and signed by the
waiving Party.

	7.14  	Miscellaneous.

	 	(a)  	Subject to Section 4 hereof, this Agreement constitutes the entire agreement
between the Parties with respect to subject matter hereof, and supersedes any other
prior oral or written agreement regarding the subject matter hereof. This Agreement
can only be amended or modified in a written agreement signed by both Parties.
	 
	 	(b)  	This Agreement is the product of negotiations between the Parties and their
respective counsel. No provision or section of this Agreement shall be read, construed
or interpreted for or against either Party by reason of ambiguity of language, rule of
construction against the draftsman, or any similar doctrine.
	 
	 	(c)  	This Agreement may be executed in one or more counterparts, each of which,
taken together, shall constitute but one original document.
	 
	 	(d)  	The captions in this Agreement are included for convenience only and shall not
affect the meaning or interpretation of this Agreement.
	 
	 	(e)  	Nothing contained herein shall be deemed to constitute a partnership or joint
venture between the Parties, and the common enterprise of the Parties shall be limited
to the express provisions of this Agreement.

12

 

     This Agreement is executed as of January 3, 2005 and is effective as of the Effective Date.

MASTERCARD INTERNATIONAL INCORPORATED

By:      /s/ Gary J. Flood                                        

          Name: Gary J. Flood

          Title: EVP

CITIBANK, N.A.

By:      /s/ Faith Masingale                                        

          Name: Faith Masingale

          Title: EVP – Head of International Cards

13

 

Schedule 1.12

Existing Agreements ****

 

 

Schedule 2.1(d)

Integrated Statement ****

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