Document:

</head>

<body lang=EN-US>

<div style='page:WordSection1;'>

<p align="right">Exhibit 10.01</p>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0
 style='margin-left:6.0pt;border-collapse:collapse;border:none'>
 <tr>
  <td width=576 valign=top style='width:6.0in;border-top:double windowtext 4.5pt;
  border-left:none;border-bottom:double windowtext 4.5pt;border-right:none;
  padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Title5;margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:24.0pt'>CREDIT AGREEMENT</p>
  <p style='mso-style-name:Title5;margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:24.0pt'>dated as of</p>
  <p style='mso-style-name:Title5;margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:24.0pt'>June 20, 2011,</p>
  <p style='mso-style-name:Title5;margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:24.0pt'>among</p>
  <p style='mso-style-name:Title5;margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:0in;margin-bottom:.0001pt'>MACY&#146;S, INC.,
  </p>
  <p style='mso-style-name:Title5;margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:0in;margin-bottom:.0001pt'>&nbsp;</p>
  <p style='mso-style-name:Title5;margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:0in;margin-bottom:.0001pt'>MACY&#146;S RETAIL
  HOLDINGS, INC. </p>
  <p style='mso-style-name:Title5;margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:.25in'>&nbsp;</p>
  <p style='mso-style-name:Title5;margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:24.0pt'>The Lenders Party Hereto</p>
  <p style='mso-style-name:Title5;margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman","serif";'>JPMORGAN CHASE BANK, N.A.</p>
  <p style='mso-style-name:Title5;margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman","serif";'>and</p>
  <p style='mso-style-name:Title5;margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman","serif";'>BANK OF AMERICA, N.A., <br>
  as Administrative Agents</p>
  <p style='mso-style-name:Title5;margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman","serif";'>and</p>
  <p style='mso-style-name:Title5;margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman","serif";'>JPMORGAN CHASE BANK, N.A.,<br>
  as Paying Agent</p>
  <p style='mso-style-name:Title5;margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman","serif";'>___________________________</p>
  <p style='mso-style-name:Title5;margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:.25in'>J.P. MORGAN SECURITIES LLC,
  MERRILL LYNCH, PIERCE, FENNER &amp; SMITH, INCORPORATED, CREDIT SUISSE
  SECURITIES (USA) LLC, U.S. BANK NATIONAL ASSOCIATION, AND WELLS FARGO
  SECURITIES, LLC,<br>
  as Joint Bookrunners and Joint Lead Arrangers</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>[Reference No.
6701-495]</p>

</div>

<br
clear=all style='page-break-before:always'>

<div style='page:WordSection2;'>

<p style='mso-style-name:Title5;margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
<p style='mso-style-name:Title5;margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
<p style='mso-style-name:Title5;margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
<p style='mso-style-name:Title5;margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman","serif";'>TABLE OF CONTENTS</p>
<p style='mso-style-name:Title5;margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman","serif";'>
<u>Page</u></p>

<p style='margin-top:24.0pt;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman","serif";'>ARTICLE I<br>
<br>
Definitions</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 1.01....... Defined
Terms........................................................................................... 1</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 1.02....... Classification
of Loans and Borrowings.................................................... 20</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 1.03....... Terms
Generally...................................................................................... 20</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 1.04....... Accounting
Terms; GAAP....................................................................... 21</p>

<p style='margin-top:24.0pt;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman","serif";'>ARTICLE II<br>
<br>
The Credits</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 2.01....... Commitments........................................................................................... 22</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>
SECTION 2.02....... Loans and
Borrowings.............................................................................
22</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 2.03....... Requests
for Revolving Borrowings.......................................................... 23</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 2.04....... Competitive
Bid Procedure...................................................................... 23</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 2.05....... Swingline
Loans....................................................................................... 26</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>
SECTION 2.06....... Letters of
Credit....................................................................................... 27</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 2.07....... Funding
of Borrowings............................................................................. 34</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 2.08....... Interest
Elections...................................................................................... 34</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 2.09....... Termination
and Reduction of Commitments............................................. 36</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 2.10....... Repayment&nbsp;of
Loans; Evidence of Debt.................................................... 36</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 2.11....... Prepayment
of Loans............................................................................... 37</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 2.12....... Fees........................................................................................................ 38</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 2.13....... Interest.................................................................................................... 39</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 2.14....... Alternate
Rate of Interest......................................................................... 40</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 2.15....... Increased
Costs....................................................................................... 40</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 2.16....... Break
Funding Payments.......................................................................... 42</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 2.17....... Withholding
of Taxes; Gross-Up.............................................................. 42</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 2.18....... Payments
Generally; Pro Rata Treatment; Sharing of Set&#8209;offs................... 46</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 2.19....... Mitigation
Obligations; Replacement of Lenders....................................... 47</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 2.20....... Increase
in Commitments......................................................................... 48</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 2.21....... Currency
Fluctuations.............................................................................. 49</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 2.22....... Extension
of Maturity Date....................................................................... 50</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 2.23....... Defaulting
Lenders................................................................................... 51</p>

<p style='margin-top:24.0pt;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman","serif";'>ARTICLE III<br>
<br>
Representations and Warranties</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 3.01....... Organization............................................................................................ 53</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 3.02....... Powers;
Authorization; No Conflicts; Enforceability.................................. 53</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 3.03....... Approvals............................................................................................... 53</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 3.04....... Financial
Condition; No Material Adverse Change................................... 53</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 3.05....... Litigation................................................................................................. 54</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 3.06....... Investment
Company Status..................................................................... 54</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 3.07....... ERISA.................................................................................................... 54</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 3.08....... Bloomingdale&#146;s
Lease.............................................................................. 54</p>

<p style='margin-top:24.0pt;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman","serif";'>ARTICLE IV<br>
<br>
Conditions</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 4.01....... Effective
Date......................................................................................... 55</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 4.02....... Each
Credit Event................................................................................... 56</p>

<p style='margin-top:24.0pt;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman","serif";'>ARTICLE V<br>
<br>
Affirmative Covenants</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 5.01....... Financial
Statements; Ratings Change and Other Information................... 57</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 5.02....... Existence................................................................................................ 58</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 5.03....... Payment
of Obligations........................................................................... 59</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 5.04....... Maintenance
of Properties; Insurance...................................................... 59</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 5.05....... Books
and Records; Inspection Rights.................................................... 59</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 5.06....... Compliance
with Laws............................................................................ 60</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 5.07....... Use
of Proceeds and Letters of Credit..................................................... 60</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 5.08....... Additional
Subsidiaries............................................................................ 60</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 5.09....... Corporate
Existence; Inventory Recordkeeping....................................... 60</p>

<p style='margin-top:24.0pt;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman","serif";'>ARTICLE VI<br>
<br>
Negative Covenants</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 6.01....... Subsidiary
Indebtedness......................................................................... 61</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 6.02....... Liens...................................................................................................... 62</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 6.03....... Fundamental
Changes; Conduct of Business............................................ 63</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 6.04....... Sale
and Leaseback Transactions........................................................... 64</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 6.05....... Leverage
Ratio....................................................................................... 64</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 6.06....... Interest
Coverage Ratio.......................................................................... 64</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 6.07....... Subsidiary
Loan Parties.......................................................................... 64</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 6.08....... Restricted
Agreements........................................................................... 65</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 6.09....... Bloomingdale&#146;s...................................................................................... 65</p>

<p style='margin-top:24.0pt;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman","serif";'>ARTICLE VII<br>
<br>
Events of Default</p>

<p style='margin-top:24.0pt;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman","serif";'>ARTICLE VIII<br>
<br>
The Agents</p>

<p style='margin-top:24.0pt;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman","serif";'>ARTICLE IX<br>
<br>
Miscellaneous</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 9.01....... Notices.................................................................................................. 71</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 9.02....... Waivers;
Amendments........................................................................... 72</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 9.03....... Expenses;
Indemnity; Damage Waiver.................................................... 73</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 9.04....... Successors
and Assigns......................................................................... 75</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 9.05....... Survival................................................................................................. 78</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 9.06....... Counterparts;
Integration; Effectiveness.................................................. 78</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 9.07....... Severability............................................................................................ 79</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 9.08....... Right
of Setoff........................................................................................ 79</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 9.09....... Governing
Law; Jurisdiction; Consent to Service of Process.................... 79</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 9.10....... WAIVER
OF JURY TRIAL.................................................................. 80</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 9.11....... Headings................................................................................................ 80</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 9.12....... Confidentiality........................................................................................ 80</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 9.13....... Interest
Rate Limitation........................................................................... 81</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 9.14....... Patriot
Act............................................................................................. 81</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 9.15....... Conversion
of Currencies....................................................................... 81</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 9.16....... Termination
of Requirement for Subsidiary Guarantees............................ 82</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-indent:-96.0pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>SECTION 9.17...... No Fiduciary Duty.................................................................................. 82</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"Body Text No Indent";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>SCHEDULES:</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Schedule 2.01 -- Commitments</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Schedule 6.01 -- Existing Indebtedness</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Schedule 6.02 -- Existing Liens</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>Schedule&nbsp;6.09 -- Existing Restrictions</p>

<p style='mso-style-name:"Body Text No Indent";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";'><u>EXHIBITS</u>:</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Exhibit A -- Form of Assignment and Assumption.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Exhibit B -- Form of Guarantee Agreement</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>Exhibit C -- Form of U.S. Tax Certificate</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

</div>

<br
clear=all style='page-break-before:always'>

<div style='page:WordSection3;'>

<p style='mso-style-name:Preamble;margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:1.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";'>CREDIT AGREEMENT dated as of June 20, 2011, among MACY&#146;S,
INC., MACY&#146;S RETAIL HOLDINGS, INC., the LENDERS party hereto, JPMORGAN CHASE
BANK, N.A. and BANK OF AMERICA, N.A. as Administrative Agents and JPMORGAN
CHASE BANK, N.A., as Paying Agent.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";page-break-after:avoid'>The parties
hereto agree as follows:</p>

<h1 style='mso-style-name:"Heading 1\,h1\,H1";margin-top:24.0pt;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;text-indent:0in;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;text-decoration:underline;margin-left:0in;text-indent:0in'>ARTICLE
I<br>
<a name="_Toc295744167"><br>
Definitions</a></h1>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in;page-break-after:avoid'><a name="_Toc295744168">SECTION
1.01.&nbsp; <u>Defined Terms.</u>&nbsp; As used in this Agreement, the following terms
have the meanings specified below:</a></h2>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>ABR</u>&#148;, when used in reference to any
Loan or Borrowing, refers to whether such Loan, or the Loans comprising such
Borrowing, are bearing interest at a rate determined by reference to the
Alternate Base Rate.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Acquisition</u>&#148; means the Parent&#146;s
previously completed acquisition of May.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Adjusted LIBO Rate</u>&#148; means, with respect
to any Eurodollar Borrowing for any Interest Period, an interest rate per annum
(rounded upwards, if necessary, to the next 1/16 of 1.0%) equal to (a)&nbsp;the
LIBO Rate for such Interest Period multiplied by (b)&nbsp;the Statutory Reserve
Rate.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Administrative Agent</u>&#148; means each of
JPMorgan Chase Bank, N.A. and Bank of America, N.A., each in its capacity as
administrative agent for the Lenders hereunder and under the other Loan
Documents. </p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Administrative Questionnaire</u>&#148; means an
Administrative Questionnaire in a form supplied by the Paying Agent.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Affiliate</u>&#148; means, with respect to a
specified Person, another Person that directly, or indirectly through one or
more intermediaries, Controls or is Controlled by or is under common Control
with the Person specified.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Agents</u>&#148; means the Paying Agent and each
Administrative Agent.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Alternate Base Rate</u>&#148; means, for any
day, a rate per annum equal to the greatest of (a)&nbsp;the Prime Rate in
effect on such day, (b)&nbsp;the Federal Funds Effective Rate on such day plus
1/2 of 1.0% and (c)&nbsp;the Adjusted LIBO Rate for a one month Interest Period
on such day (or if such day is not a Business Day, the immediately preceding
Business Day) plus 1.0%; <u>provided</u> that, for the avoidance of doubt, for
purposes of calculating the Alternate Base Rate, the Adjusted LIBO Rate for any
day shall be based on the Reuters BBA Libor Rates page&nbsp;3750 (or on any
successor or substitute page of such page) at approximately 11:00&nbsp;a.m.
London time on such day.&nbsp; Any change in the Alternate Base Rate due to a change
in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate
shall be effective from and including the effective date of such change in the
Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate,
respectively.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Alternate Currency</u>&#148; means any currency
other than dollars as to which a Spot Exchange Rate may be calculated.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Alternate Currency Letter of Credit</u>&#148;
means any Letter of Credit which provides for the payment of drawings in an
Alternate Currency.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Applicable Percentage</u>&#148; means, with
respect to any Lender, the percentage of the Total Commitments represented by
such Lender&#146;s Commitment; <u>provided</u> that if any Defaulting Lender exists
at such time, the Applicable Percentages shall be calculated disregarding such
Defaulting Lender&#146;s Commitment.&nbsp; If the Commitments have terminated or expired,
the Applicable Percentages shall be determined based upon the Commitments most
recently in effect, giving effect to any assignments and to any Lender&#146;s status
as a Defaulting Lender at the time of determination.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Applicable Rate</u>&#148; means, for any day,
with respect to any Eurodollar Revolving Loan or ABR&nbsp;Loan, or with respect
to the facility fees payable hereunder, as the case may be, the applicable rate
per annum set forth below under the caption &#147;Adjusted LIBOR Spread&#148;,
&#147;ABR&nbsp;Spread&#148; or &#147;Facility Fee Rate&#148;, as the case may be, based upon either
the Public Debt Ratings or the Leverage Ratio in effect on such date, with the
Applicable Rate being determined by reference to the Level most favorable to
the Borrower; <u>provided</u> that the Applicable Rate may never be based upon
a Level that is more favorable to the Borrower than the Level that is two
Levels above that of the Public Debt Ratings: </p>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0 align=left
 width=576 style='border-collapse:collapse;border:none;margin-left:6.75pt;
 margin-right:6.75pt'>
 <tr>
  <td width=79 style='width:59.25pt;border:solid windowtext 1.0pt;padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-align:center'><u><font style="font-size: 10.0pt">Level</font></u></p>
  </td>
  <td width=105 valign=bottom style='width:78.6pt;border:solid windowtext 1.0pt;
  border-left:none;padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><u><font style="font-size: 10.0pt">Public Debt Rating <br>
  Moody&#146;s/S&amp;P</font></u></p>
  </td>
  <td width=105 valign=top style='width:78.6pt;border:solid windowtext 1.0pt;
  border-left:none;padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><u><font style="font-size: 10.0pt">Leverage Ratio</font></u></p>
  </td>
  <td width=105 valign=bottom style='width:78.6pt;border:solid windowtext 1.0pt;
  border-left:none;padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><u><font style="font-size: 10.0pt">Adjusted LIBOR Spread</font></u></p>
  </td>
  <td width=82 valign=bottom style='width:61.5pt;border:solid windowtext 1.0pt;
  border-left:none;padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><u><font style="font-size: 10.0pt">ABR Spread</font></u></p>
  </td>
  <td width=101 valign=top style='width:75.45pt;border:solid windowtext 1.0pt;
  border-left:none;padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><u><font style="font-size: 10.0pt">Facility Fee Rate</font></u></p>
  </td>
 </tr>
 <tr>
  <td width=79 valign=top style='width:59.25pt;border:solid windowtext 1.0pt;
  border-top:none;padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:12.25pt'><font style="font-size: 10.0pt">1</font></p>
  </td>
  <td width=105 valign=top style='width:78.6pt;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><u><font style="font-size: 10.0pt">&gt;</font></u><font style="font-size: 10.0pt">Baa1/BBB+</font></p>
  </td>
  <td width=105 valign=top style='width:78.6pt;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><u><font style="font-size: 10.0pt">&lt;</font></u><font style="font-size: 10.0pt"> 1.5
  to 1.0</font></p>
  </td>
  <td width=105 valign=top style='width:78.6pt;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><font style="font-size: 10.0pt">1.075%</font></p>
  </td>
  <td width=82 valign=top style='width:61.5pt;border-top:none;border-left:none;
  border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><font style="font-size: 10.0pt">0.075%</font></p>
  </td>
  <td width=101 valign=top style='width:75.45pt;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><font style="font-size: 10.0pt">0.175%</font></p>
  </td>
 </tr>
 <tr>
  <td width=79 valign=top style='width:59.25pt;border:solid windowtext 1.0pt;
  border-top:none;padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:12.25pt'><font style="font-size: 10.0pt">2</font></p>
  </td>
  <td width=105 valign=top style='width:78.6pt;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><font style="font-size: 10.0pt">Baa2/BBB</font></p>
  </td>
  <td width=105 valign=top style='width:78.6pt;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><u><font style="font-size: 10.0pt">&lt;</font></u><font style="font-size: 10.0pt"> 2.0
  to 1.0</font></p>
  </td>
  <td width=105 valign=top style='width:78.6pt;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><font style="font-size: 10.0pt">1.30%</font></p>
  </td>
  <td width=82 valign=top style='width:61.5pt;border-top:none;border-left:none;
  border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><font style="font-size: 10.0pt">0.30%</font></p>
  </td>
  <td width=101 valign=top style='width:75.45pt;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><font style="font-size: 10.0pt">0.20%</font></p>
  </td>
 </tr>
 <tr>
  <td width=79 valign=top style='width:59.25pt;border:solid windowtext 1.0pt;
  border-top:none;padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:12.25pt'><font style="font-size: 10.0pt">3</font></p>
  </td>
  <td width=105 valign=top style='width:78.6pt;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><font style="font-size: 10.0pt">Baa3/BBB-</font></p>
  </td>
  <td width=105 valign=top style='width:78.6pt;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><u><font style="font-size: 10.0pt">&lt;</font></u><font style="font-size: 10.0pt"> 2.5
  to 1.0</font></p>
  </td>
  <td width=105 valign=top style='width:78.6pt;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><font style="font-size: 10.0pt">1.50%</font></p>
  </td>
  <td width=82 valign=top style='width:61.5pt;border-top:none;border-left:none;
  border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><font style="font-size: 10.0pt">0.50%</font></p>
  </td>
  <td width=101 valign=top style='width:75.45pt;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><font style="font-size: 10.0pt">0.25%</font></p>
  </td>
 </tr>
 <tr>
  <td width=79 valign=top style='width:59.25pt;border:solid windowtext 1.0pt;
  border-top:none;padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:12.25pt'><font style="font-size: 10.0pt">4</font></p>
  </td>
  <td width=105 valign=top style='width:78.6pt;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><font style="font-size: 10.0pt">Ba1/BB+</font></p>
  </td>
  <td width=105 valign=top style='width:78.6pt;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><u><font style="font-size: 10.0pt">&lt;</font></u><font style="font-size: 10.0pt"> 3.0
  to 1.0</font></p>
  </td>
  <td width=105 valign=top style='width:78.6pt;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><font style="font-size: 10.0pt">1.70%</font></p>
  </td>
  <td width=82 valign=top style='width:61.5pt;border-top:none;border-left:none;
  border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><font style="font-size: 10.0pt">0.70%</font></p>
  </td>
  <td width=101 valign=top style='width:75.45pt;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><font style="font-size: 10.0pt">0.30%</font></p>
  </td>
 </tr>
 <tr>
  <td width=79 valign=top style='width:59.25pt;border:solid windowtext 1.0pt;
  border-top:none;padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:12.25pt'><font style="font-size: 10.0pt">5</font></p>
  </td>
  <td width=105 valign=top style='width:78.6pt;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><font style="font-size: 10.0pt">Ba2/BB</font></p>
  </td>
  <td width=105 valign=top style='width:78.6pt;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><u><font style="font-size: 10.0pt">&lt;</font></u><font style="font-size: 10.0pt"> 3.5
  to 1.0</font></p>
  </td>
  <td width=105 valign=top style='width:78.6pt;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><font style="font-size: 10.0pt">1.90%</font></p>
  </td>
  <td width=82 valign=top style='width:61.5pt;border-top:none;border-left:none;
  border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><font style="font-size: 10.0pt">0.90%</font></p>
  </td>
  <td width=101 valign=top style='width:75.45pt;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><font style="font-size: 10.0pt">0.35%</font></p>
  </td>
 </tr>
 <tr>
  <td width=79 valign=top style='width:59.25pt;border:solid windowtext 1.0pt;
  border-top:none;padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:12.25pt'><font style="font-size: 10.0pt">6</font></p>
  </td>
  <td width=105 valign=top style='width:78.6pt;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><u><font style="font-size: 10.0pt">&lt;</font></u><font style="font-size: 10.0pt">
  Ba3/BB-</font></p>
  </td>
  <td width=105 valign=top style='width:78.6pt;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><font style="font-size: 10.0pt">&gt; 3.5 to 1.0</font></p>
  </td>
  <td width=105 valign=top style='width:78.6pt;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><font style="font-size: 10.0pt">2.30%</font></p>
  </td>
  <td width=82 valign=top style='width:61.5pt;border-top:none;border-left:none;
  border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><font style="font-size: 10.0pt">1.30%</font></p>
  </td>
  <td width=101 valign=top style='width:75.45pt;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:1.45pt 6.0pt 1.45pt 6.0pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><font style="font-size: 10.0pt">0.45%</font></p>
  </td>
 </tr>
</table>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt'>&nbsp;</p>
<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt'>&nbsp;</p>
<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt'>&nbsp;</p>
<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt'>&nbsp;</p>
<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt'>&nbsp;</p>
<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt'>&nbsp;</p>
<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt'>For purposes of the
foregoing, (i) the Leverage Ratio shall be determined as of the end of the
fiscal quarter for Parent for which consolidated financial statements have
theretofore been most recently delivered pursuant to Section 5.01(a) or 5.01
(b); <u>provided</u> that, until the date of the delivery of the consolidated
financial statements pursuant to Section 5.01(b) for the fiscal quarter ended
July 31, 2011, the Applicable Rate shall be determined by reference to the
Public Debt Ratings, (ii) if Parent and the Borrower fail to deliver the
consolidated financial statements required to be delivered pursuant to Section
5.01(a) or 5.01(b) within the time period specified herein for such delivery
then, during the period commencing on and including the date such financial
statements were required to have been delivered and until the delivery thereof,
the Applicable Rate shall be determined by reference to the Public Debt
Ratings, (iii) if either Moody&#146;s or S&amp;P shall not have in effect a Public
Debt Rating (other than by reason of the circumstances referred to in the last
sentence of this definition), then the Level established based on the Public
Debt Rating shall be determined by reference to the remaining Public Debt
Rating and the rating assigned to the Parent&#146;s senior unsecured debt
obligations by Fitch Ratings, and if neither Moody&#146;s nor S&amp;P have in effect
a Public Debt Rating (other than by reason of the circumstances referred to in
the last sentence of this definition), then the Applicable Rate shall be
determined by reference to the Leverage Ratio and/or the rating assigned to the
Parent&#146;s senior unsecured debt obligations by Fitch Ratings; (iv) if the Public
Debt Ratings established or deemed to have been established by Moody&#146;s and
S&amp;P shall fall within different Levels, then the Level established based on
the Public Debt Rating shall be based on the higher of the two Public Debt
Ratings unless one of the two Levels is two or more Levels lower than the
other, in which case the Level established based on the Public Debt Rating
shall be determined by reference to the Level next below that of the higher of
the two Public Debt Ratings; and (v) if the Public Debt Ratings established or
deemed to have been established by Moody&#146;s and S&amp;P shall be changed (other
than as a result of a change in the ratings system of Moody&#146;s or S&amp;P), such
change shall be effective as of the date on which it is first announced by the
applicable rating agency, irrespective of when notice of such change shall have
been furnished pursuant to Section 5.01 or otherwise.&nbsp; Each change in the
Applicable Rate (a) resulting from a change in the Leverage Ratio shall apply
during the period commencing on and including the Business Day following the
date of delivery pursuant to Section 5.01(a) or 5.01(b) of the consolidated
financial statements indicating such change and (b) resulting from a change in
the Public Debt Ratings shall apply during the period commencing on the
effective date of such change and, in each case, ending on the date immediately
preceding the effective date of the next such change.&nbsp; If the rating system of
Moody&#146;s, S&amp;P or Fitch Ratings shall change, or if any such rating agency
shall cease to be in the business of rating corporate debt obligations, the
Borrower and the Lenders shall negotiate in good faith to amend this definition
to reflect such changed rating system or the unavailability of ratings from
such rating agency and, pending the effectiveness of any such amendment (unless
two or more of such rating agencies are affected by the foregoing), the
Applicable Rate shall be determined by reference to the Leverage Ratio.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Assignment and Assumption</u>&#148; means an
assignment and assumption entered into by a Lender and an assignee (with the
consent of any party whose consent is required by Section&nbsp;9.04), and
accepted by the Paying Agent, in the form of Exhibit&nbsp;A or any other form
approved by the Paying Agent.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Augmenting Lender</u>&#148; has the meaning set
forth in Section&nbsp;2.20(a).</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Availability Period</u>&#148; means the period
from and including the Effective Date to but excluding the earlier of the
Maturity Date and the date of termination of the Commitments.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Bloomingdale&#146;s</u>&#148; means Bloomingdale&#146;s,
Inc., an Ohio corporation, together with its successors and assigns.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Bloomingdale&#146;s Lease</u>&#148; means the Amended
and Restated Lease, dated as of February 1, 1998, between B. Bros. Realty Limited
Partnership and Bloomingdale&#146;s, as amended, waived or otherwise modified from
time to time.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Bloomingdale&#146;s Parties</u>&#148; means
Bloomingdale&#146;s and any of its subsidiaries that are Subsidiary Loan Parties.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Board</u>&#148; means the Board of Governors of
the Federal Reserve System of the United States of America.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Borrower</u>&#148; means Macy&#146;s Retail Holdings,
Inc., a New York corporation.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Borrowing</u>&#148; means (a)&nbsp;Revolving
Loans of the same Type, made, converted or continued on the same date and, in
the case of Eurodollar Loans, as to which a single Interest Period is in
effect, (b)&nbsp;a Competitive Loan or group of Competitive Loans of the same
Type made on the same date and as to which a single Interest Period is in
effect or (c)&nbsp;a Swingline Loan.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Borrowing Request</u>&#148; means a request by
the Borrower for a Revolving Borrowing in accordance with Section&nbsp;2.03.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Business Day</u>&#148; means any day that is not
a Saturday, Sunday or other day on which commercial banks in New&nbsp;York City
are authorized or required by law to remain closed; <u>provided</u> that,
(a)&nbsp;when used in connection with a Eurodollar Loan, the term &#147;<u>Business
Day</u>&#148; shall also exclude any day on which banks are not open for dealings in
dollar deposits in the London interbank market and (b)&nbsp;when used in
connection with an Alternate Currency Letter of Credit, the term &#147;Business Day&#148;
shall also exclude any day on which commercial banks in the principal financial
center (as determined by the Paying Agent) of such Alternate Currency are
authorized or required by law to remain closed.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Calculation Date</u>&#148; means the last
Business Day of March, June, September and December of each year.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Capital Lease Obligations</u>&#148; of any
Person means the obligations of such Person to pay rent or other amounts under
any lease of (or other arrangement conveying the right to use) real or personal
property, or a combination thereof, which obligations are required to be
classified and accounted for as capital leases on a balance sheet of such
Person under GAAP, and the amount of such obligations shall be the capitalized
amount thereof determined in accordance with GAAP.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Change in Control</u>&#148; means (a)&nbsp;the
acquisition of ownership, directly or indirectly, beneficially or of record, by
any Person or group (within the meaning of the Securities Exchange Act of 1934
and the rules of the Securities and Exchange Commission thereunder as in effect
on the date hereof), of Equity Interests representing more than 50% of the
aggregate ordinary voting power represented by the issued and outstanding
Equity Interests of Parent; (b)&nbsp;occupation of a majority of the seats
(other than vacant seats) on the board of directors of Parent by Persons who
were neither (i)&nbsp;nominated by the board of directors of Parent nor
(ii)&nbsp;appointed by directors so nominated; or (c)&nbsp;after the Effective
Date the Borrower ceases to be a direct, wholly owned subsidiary of Parent.<font style="font-size: 11.0pt"> </font></p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Change in Law</u>&#148; means the occurrence,
after the date of this Agreement, of any of the following:&nbsp; (a)&nbsp;the
adoption of any rule, regulation, treaty or other law, (b)&nbsp;any change in
any rule, regulation, treaty or other law or in the administration,
interpretation, implementation, or application thereof by any Governmental
Authority or (c)&nbsp;the making or issuance of any request, rule, guideline or
directive (whether or not having the force of law) of any Governmental
Authority; <u>provided</u> that, notwithstanding anything herein to the
contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and
all requests, rules, guidelines or directives thereunder or issued in
connection therewith and (ii) all requests, rules, guidelines or directives
promulgated by the Bank for International Settlements, the Basel Committee on
Banking Supervision (or any successor or similar authority) or the United
States regulatory authorities, in each case pursuant to Basel III, shall in
each case be deemed to be a &#147;Change in Law&#148;, regardless of the date enacted,
adopted, promulgated or issued.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Class</u>&#148;, when used in reference to any
Loan or Borrowing, refers to whether such Loan, or the Loans comprising such
Borrowing, are Revolving Loans, Competitive Loans or Swingline Loans.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Co-Syndication Agents</u>&#148; means each of
Credit Suisse Securities (USA) LLC, U.S. Bank National Association and Wells
Fargo Bank, National Association, each in its capacity as syndication agent
hereunder.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Code</u>&#148; means the Internal Revenue Code
of 1986, as amended.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Commitment</u>&#148; means, with respect to each
Lender, the commitment of such Lender to make Revolving Loans and to acquire
participations in Letters of Credit and Swingline Loans hereunder, expressed as
an amount representing the maximum aggregate amount of such Lender&#146;s Revolving
Credit Exposure hereunder, as such commitment may be (a)&nbsp;reduced from time
to time pursuant to Section&nbsp;2.09 and (b)&nbsp;reduced or increased from
time to time pursuant to assignments by or to such Lender pursuant to
Section&nbsp;9.04.&nbsp; The initial amount of each Lender&#146;s Commitment is set forth
on Schedule&nbsp;2.01, or in the Assignment and Assumption pursuant to which
such Lender shall have assumed its Commitment, as applicable.&nbsp; The initial
aggregate amount of the Lenders&#146; Commitments is $1,500,000,000.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Commitment Increase</u>&#148; has the meaning
set forth in Section&nbsp;2.20(b).</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Competitive Bid</u>&#148; means an offer by a
Lender to make a Competitive Loan in accordance with Section&nbsp;2.04.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Competitive Bid Rate</u>&#148; means, with
respect to any Competitive Bid, the Margin or the Fixed Rate, as applicable,
offered by the Lender making such Competitive Bid.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Competitive Bid Request</u>&#148; means a
request by the Borrower for Competitive Bids in accordance with
Section&nbsp;2.04.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Competitive Loan</u>&#148; means a Loan made
pursuant to Section&nbsp;2.04.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Consenting Lenders</u>&#148; has the meaning set
forth in Section&nbsp;2.22(b).</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Consolidated EBITDA</u>&#148; means, for any
period, (a)&nbsp;the sum of (without duplication and in the case of clauses
(ii)-(viii) to the extent deducted in calculating Consolidated Net Income)
(i)&nbsp;Consolidated Net Income (or net loss), (ii)&nbsp;interest expense,
(iii)&nbsp;income tax expense, (iv)&nbsp;depreciation expense,
(v)&nbsp;amortization expense (including amortization of (A)&nbsp;excess of
cost over net assets acquired, (B)&nbsp;reorganization value in excess of
amounts allocable to identifiable assets and (C)&nbsp;unearned restricted
stock), (vi)&nbsp;non-cash charges for such period arising from impairment of
goodwill, impairment of intangibles or impairments/write downs of real estate
or other long-term assets, (vii) extraordinary losses and (viii) non-recurring
cash charges in an aggregate amount for all periods commencing on or after May
31, 2011 not to exceed $400,000,000 (and not more than 20% of which shall be
inventory valuation adjustments pursuant to clause (D) below), in respect of
(A)&nbsp;store, corporate office and support function closings, eliminations,
relocations and divisional realignments, (B)&nbsp;employee severance costs, (C)&nbsp;fees,
costs and expenses resulting from, or incurred in connection with, any of the
foregoing, and (D) inventory valuation adjustments resulting from, or incurred
in connection with, any of the foregoing, less (b)&nbsp;the sum of
(i)&nbsp;non-recurring or extraordinary gains, (ii)&nbsp;interest income and
(iii)&nbsp; any payments made during such period that were deducted as a
non-cash charge in a previous period pursuant to clause (a)(viii) above, in
each case in clauses&nbsp;(a) and (b) of Parent and the Subsidiaries, determined
on a consolidated basis in accordance with GAAP.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Consolidated Net Income</u>&#148; means, for any
period, the net income or loss of Parent and the Subsidiaries for such period
determined on a consolidated basis in accordance with GAAP.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Consolidated Net Interest Expense</u>&#148;
means, for any period, the amount (if any) by which (a) interest payable on all
Indebtedness (including the interest component of Capitalized Lease
Obligations, but excluding tender and open market repurchase premiums) and
amortization of deferred financing fees and debt discount in respect of all
Indebtedness exceeds (b) interest income, in each case in clauses (a) and (b),
of Parent and the Subsidiaries, determined on a consolidated basis in
accordance with GAAP; <u>provided</u> that any write-ups or write-downs of long-term
Indebtedness of May (including current portions) or its subsidiaries as a
result of the Acquisition, and any related amortization expense resulting
therefrom, shall be disregarded for purposes of determining Consolidated Net
Interest Expense.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Consolidated Net Tangible Assets</u>&#148;
means, at any date of determination,&nbsp; (a) the aggregate amount of assets (less
applicable reserves and other properly deductible items), minus (b) all current
liabilities, minus (c) all goodwill, trade names, trademarks, patents,
unamortized debt discount and expense and other like intangibles, in each case
in clauses (a), (b) and (c) of Parent and the Subsidiaries, determined on a
consolidated basis in accordance with GAAP.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Consolidated Net Worth</u>&#148; means, at any
date of determination, the total consolidated stockholders&#146; equity of Parent,
determined as of such date in accordance with GAAP.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Control</u>&#148; means the possession, directly
or indirectly, of the power to direct or cause the direction of the management
or policies of a Person, whether through the ability to exercise voting power,
by contract or otherwise.&nbsp; &#147;<u>Controlling</u>&#148; and &#147;<u>Controlled</u>&#148; have
meanings correlative thereto.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Declining Lender</u>&#148; has the meaning set
forth in Section&nbsp;2.22(b).</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Default</u>&#148; means any event or condition
which constitutes an Event of Default or which upon notice, lapse of time or
both would, unless cured or waived, become an Event of Default.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Defaulting Lender</u>&#148; means any Lender, as
determined by the Administrative Agents, that has (a)&nbsp;failed to fund any portion
of its Loans or participations in Letters of Credit or Swingline Loans within
three Business Days of the date required to be funded by it hereunder,
(b)&nbsp;notified Parent, the Borrower, the Administrative Agents, an Issuing
Bank, a Swingline Lender or any Lender in writing that it does not intend to
comply with any of its funding obligations under this Agreement or has made a
public statement to the effect that it does not intend to comply with its
funding obligations under this Agreement or under other agreements in which it
commits to extend credit, (c)&nbsp;failed, within three Business Days after
request by the Administrative Agents, to confirm that it will comply with the
terms of this Agreement relating to its obligations to fund prospective Loans
and participations in then outstanding Letters of Credit and Swingline Loans; <u>provided</u>
that confirmation received by the Administrative Agents beyond three Business
Days shall remedy the default under this clause (c), (d)&nbsp;otherwise failed
to pay over to the Administrative Agents or any other Lender any other amount
required to be paid by it hereunder within three Business Days of the date when
due, unless the subject of a good faith dispute, or (e)(i) been adjudicated as,
or determined by any Governmental Authority having regulatory authority over
such Person or its assets to be, insolvent or has a parent company that has
been adjudicated as, or determined by any Governmental Authority having
regulatory authority over such Person or its assets to be, insolvent or (ii)
become the subject of a bankruptcy or insolvency proceeding, or has had a
receiver, conservator, trustee or custodian appointed for it, or has taken any
action in furtherance of, or indicating its consent to, approval of or
acquiescence in any such proceeding or appointment or has a&nbsp; direct or indirect
parent company that has become the subject of a bankruptcy or insolvency
proceeding, or has had a receiver, conservator, trustee or custodian appointed
for it, or has taken any action in furtherance of, or indicating its consent
to, approval of or acquiescence in any such proceeding or appointment (the
events described in this clause (e) each, a &#147;<u>Bankruptcy Event</u>&#148;); <u>provided</u>
that a Bankruptcy Event shall not result solely by virtue of any ownership interest,
or the acquisition of any ownership interest, in such Person by a Governmental
Authority; <u>provided</u>, <u>however</u>, that such ownership interest does
not result in or provide such Person with immunity from the jurisdiction of
courts within the United States of America or from the enforcement of judgments
or writs of attachment on its assets or permit such Person (or such
Governmental Authority) to reject, repudiate, disavow or disaffirm any
agreements made by such Person.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Documentary LC</u>&#148; means any letter of
credit (other than a Letter of Credit) that is issued by a Person that is not
an Affiliate of Parent for the benefit of a supplier of inventory to Parent or
any Subsidiary to effect payment for such inventory.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>dollars</u>&#148; or &#147;<u>$</u>&#148; refers to lawful
money of the United States of America.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Dollar Amount</u>&#148; means, with respect to
any Alternate Currency Letter of Credit or LC Disbursement in respect thereof,
the amount determined pursuant to Section&nbsp;2.06(m).</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Dollar Equivalent</u>&#148; means, on any date
of determination, (a)&nbsp;with respect to any amount in dollars, such amount,
and (b)&nbsp;with respect to any amount in any Alternate Currency, the
equivalent in dollars of such amount, determined by the Paying Agent pursuant
to Section&nbsp;2.21(a) using the relevant Dollar Amount.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Economic Development Transaction</u>&#148; means
a conveyance of real property (which may include improvements thereon and
related assets) made by the Parent or a Subsidiary to a Governmental Authority
(or related industrial development agency) in order to obtain tax exemptions or
other inducements or accommodations in connection with economic development
activity; <u>provided</u> that (a) the Parent or applicable Subsidiary retains
possession and control of the applicable property pursuant to a lease or
similar arrangement, (b) payments due by the Parent or applicable Subsidiary in
connection therewith are made in order to obtain reduced obligations Parent or
such Subsidiary would otherwise incur or other economic benefits, or offset by
corresponding payments owed by the transferee and (c) title to the applicable
property reverts to the Parent or applicable Subsidiary upon termination of
such lease or similar arrangement.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Effective Date</u>&#148; means June 20, 2011.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Equity Interests</u>&#148; means shares of
capital stock, partnership interests, membership interests in a limited
liability company, beneficial interests in a trust or other equity ownership
interests in a Person, and any warrants, options or other rights entitling the
holder thereof to purchase or acquire any such equity interest.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>ERISA</u>&#148; means the Employee Retirement
Income Security Act of 1974, as amended from time to time.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>ERISA Affiliate</u>&#148; means any trade or
business (whether or not incorporated) that, together with Parent, is treated
as a single employer under Section&nbsp;414(b) or (c) of the Code or, solely
for purposes of Section&nbsp;302 of ERISA and Section&nbsp;412 of the Code, is
treated as a single employer under Section&nbsp;414 of the Code.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>ERISA Event</u>&#148; means (a)&nbsp;any
&#147;reportable event&#148;, as defined in Section&nbsp;4043 of ERISA or the regulations
issued thereunder with respect to a Plan (other than an event for which the 30&#8209;day
notice period is waived); (b)&nbsp;failure by any Plan to meet the minimum
funding standards (as defined in Section&nbsp;412 of the Code or
Section&nbsp;302 of ERISA) applicable to such Plan, in each case, whether or
not waived; (c)&nbsp;the filing pursuant to Section&nbsp;412(c) of the Code or
Section&nbsp;302(c) of ERISA of an application for a waiver of the minimum
funding standard with respect to any Plan; (d)&nbsp;the incurrence by Parent or
any of its ERISA Affiliates of any liability under Title&nbsp;IV of ERISA with
respect to the termination of any Plan; (e)&nbsp;the receipt by Parent or any
ERISA Affiliate from the PBGC or a plan administrator of any notice relating to
an intention to terminate any Plan or Plans or to appoint a trustee to
administer any Plan; (f)&nbsp;the incurrence by Parent or any of its ERISA
Affiliates of any liability with respect to the withdrawal or partial
withdrawal from any Plan or Multiemployer Plan; or (g)&nbsp;the receipt by
Parent or any ERISA Affiliate of any notice, or the receipt by any
Multiemployer Plan from Parent or any ERISA Affiliate of any notice, concerning
the imposition of Withdrawal Liability or a determination that a Multiemployer
Plan is, or is expected to be, insolvent or in reorganization, within the
meaning of Title&nbsp;IV of ERISA.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Eurodollar</u>&#148;, when used in reference to
any Loan or Borrowing, refers to whether such Loan, or the Loans comprising
such Borrowing, are bearing interest at a rate determined by reference to the
Adjusted LIBO Rate (or, in the case of a Competitive Loan, the LIBO Rate).</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Event of Default</u>&#148; has the meaning
assigned to such term in Article&nbsp;VII.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Excluded Taxes</u>&#148; means, with respect to
any payment made by any Loan Party under any Loan Document, any of the
following Taxes imposed on or with respect to a Recipient:&nbsp; (a)&nbsp;Other
Connection Taxes, (b) income or franchise Taxes imposed on (or measured by) its
net income by the United States of America, or by the jurisdiction under the
laws of which such Recipient is organized or in which its principal office is
located or, in the case of any Lender, in which its applicable lending office
is located, (b)&nbsp;any branch profits Taxes imposed by the United States of
America or any similar Taxes imposed by any other jurisdiction in which the
Borrower is located and (c)&nbsp;in the case of a Non-U.S. Lender (other than
an assignee pursuant to a request by the Borrower under Section&nbsp;2.19(b)),
any U.S. Federal withholding Taxes resulting from any law in effect (including
FATCA) on the date such Non U.S. Lender becomes a party to this Agreement (or
designates a new lending office) or is attributable to such Non-U.S. Lender&#146;s
failure to comply with Section&nbsp;2.17(f), except to the extent that such
Non-U.S. Lender (or its assignor, if any) was entitled, at the time of
designation of a new lending office (or assignment), to receive additional
amounts from the Borrower with respect to such withholding Taxes pursuant to
Section&nbsp;2.17(a).</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Existing Credit Agreement</u>&#148; means the
Amended and Restated Credit Agreement dated as of August 30, 2007 as amended
and restated as of January 5, 2009, among Parent, the Borrower, the lenders
party thereto, JPMorgan Chase Bank, N.A. and Bank of America, N.A., as
administrative agents and JPMorgan Chase Bank, N.A., as paying agent.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Existing Indebtedness</u>&#148; has the meaning
assigned to such term in Section&nbsp;6.01(b).</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Existing Letter of Credit</u>&#148; means any
letter of credit issued for the account of Parent or the Borrower and
outstanding on the Effective Date under the Existing Credit Agreement; <u>provided</u>
that (a)&nbsp;the issuer of such letter of credit is a Lender and such Lender
becomes an Issuing Bank under this Agreement pursuant to Section&nbsp;2.06 and
(b)&nbsp;Parent or the Borrower and such Lender consent to such letter of credit
becoming a Letter of Credit.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Existing Maturity Date</u>&#148; has the meaning
set forth in Section&nbsp;2.22(c).</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Extension Date</u>&#148; has the meaning set
forth in Section&nbsp;2.22(b).</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>FATCA</u>&#148; means Sections 1471 through 1474
of the Code, as of the date of this Agreement and any regulations or official
interpretations thereof.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Federal Funds Effective Rate</u>&#148; means,
for any day, the weighted average (rounded upwards, if necessary, to the next
1/100 of 1.0%) of the rates on overnight Federal funds transactions with
members of the Federal Reserve System arranged by Federal funds brokers, as
published on the next succeeding Business Day by the Federal Reserve Bank of
New&nbsp;York, or, if such rate is not so published for any day that is a
Business Day, the average (rounded upwards, if necessary, to the next 1/100 of
1.0%) of the quotations for such day for such transactions received by the
Paying Agent from three Federal funds brokers of recognized standing selected
by it.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Financial Officer</u>&#148; means the chief
financial officer, principal accounting officer, treasurer or controller of
Parent or the Borrower, as applicable.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Fixed Rate</u>&#148; means, with respect to any
Competitive Loan (other than a Eurodollar Competitive Loan), the fixed rate of
interest per annum specified by the Lender making such Competitive Loan in its
related Competitive Bid.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Fixed Rate Loan</u>&#148; means a Competitive
Loan bearing interest at a Fixed Rate.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>GAAP</u>&#148; means generally accepted
accounting principles in the United States of America.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Governmental Authority</u>&#148; means the
government of the United States of America, any other nation or any political
subdivision thereof, whether state or local, and any agency, authority,
instrumentality, regulatory body, court, central bank or other entity
exercising executive, legislative, judicial, taxing, regulatory or
administrative powers or functions of or pertaining to government.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Guarantee</u>&#148; of or by any Person (the &#147;<u>guarantor</u>&#148;)
means any obligation, contingent or otherwise, of the guarantor guaranteeing or
having the economic effect of guaranteeing any Indebtedness or other obligation
of any other Person (the &#147;<u>primary obligor</u>&#148;) in any manner, whether
directly or indirectly, and including any obligation of the guarantor, direct
or indirect, (a)&nbsp;to purchase or pay (or advance or supply funds for the
purchase or payment of) such Indebtedness or other obligation or to purchase
(or to advance or supply funds for the purchase of) any security for the
payment thereof, (b)&nbsp;to purchase or lease property, securities or services
for the purpose of assuring the owner of such Indebtedness or other obligation
of the payment thereof, (c)&nbsp;to maintain working capital, equity capital or
any other financial statement condition or liquidity of the primary obligor so
as to enable the primary obligor to pay such Indebtedness or other obligation
or (d)&nbsp;as an account party in respect of any letter of credit or letter of
guaranty issued to support such Indebtedness or obligation; <u>provided</u>,
that the term Guarantee shall not include endorsements for collection or deposit
in the ordinary course of business.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Guarantee Agreement</u>&#148; means the
Guarantee Agreement among the Guarantors, the Borrower and the Paying Agent
substantially in the form of Exhibit&nbsp;B.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Guarantors</u>&#148; means, as of any date,
Parent and each Subsidiary Loan Party that is a party to the Guarantee
Agreement as a guarantor thereunder as of such date.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Indebtedness</u>&#148; of any Person means,
without duplication, (a)&nbsp;all obligations of such Person for borrowed
money, (b)&nbsp;all obligations of such Person evidenced by bonds, debentures,
notes or similar instruments (other than performance, surety and appeals bonds
arising in the ordinary course of business), (c)&nbsp;all obligations of such
Person upon which interest charges are customarily paid, (d)&nbsp;all obligations
of such Person under conditional sale or other title retention agreements
relating to property acquired by such Person, (e)&nbsp;all obligations of such
Person in respect of the deferred purchase price of property or services (other
than obligations for property (excluding real property, capital stock and
property subject to capital leases) and services purchased, and expense
accruals and deferred compensation items arising in the ordinary course of
business), (f)&nbsp;all Indebtedness of others secured by (or for which the holder
of such Indebtedness has an existing right, contingent or otherwise, to be
secured by) any Lien on property owned or acquired by such Person, whether or
not the Indebtedness secured thereby has been assumed, (g)&nbsp;all Guarantees
by such Person of Indebtedness of others, (h)&nbsp;all Capital Lease
Obligations of such Person, (i)&nbsp;all obligations, contingent or otherwise,
of such Person as an account party in respect of letters of credit and letters
of guaranty and (j)&nbsp;all obligations, contingent or otherwise, of such
Person in respect of bankers&#146; acceptances.&nbsp; The Indebtedness of any Person
shall include the Indebtedness of any other entity (including any partnership
in which such Person is a general partner) to the extent such Person is liable
therefor under applicable law as a result of such Person&#146;s ownership interest
in or other relationship with such entity, except to the extent the terms of
such Indebtedness provide that such Person is not liable therefor.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Indemnified Taxes</u>&#148; means
(a)&nbsp;Taxes, other than Excluded Taxes, imposed on or with respect to any
payment made by any Loan Party under any Loan Document and (b)&nbsp;to the
extent not otherwise described in clause (a), Other Taxes.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Initial Loans</u>&#148; has the meaning set
forth in Section&nbsp;2.20(b).</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Interest Coverage Ratio</u>&#148; means, at any
date of determination, the ratio of (a)&nbsp;Consolidated EBITDA for the
Measurement Period then most recently ended to (b)&nbsp;Consolidated Net
Interest Expense for such Measurement Period.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Interest Election Request</u>&#148; means a
request by the Borrower to convert or continue a Revolving Borrowing in
accordance with Section&nbsp;2.08.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Interest Payment Date</u>&#148; means
(a)&nbsp;with respect to any ABR Loan (other than a Swingline Loan), the last
day of each March, June, September and December, (b)&nbsp;with respect to any
Eurodollar Loan, the last day of the Interest Period applicable to the
Borrowing of which such Loan is a part and, in the case of a Eurodollar
Borrowing with an Interest Period of more than three months&#146; duration, each day
prior to the last day of such Interest Period that occurs at intervals of three
months&#146; duration after the first day of such Interest Period, (c)&nbsp;with
respect to any Fixed Rate Loan, the last day of the Interest Period applicable
to the Borrowing of which such Loan is a part and, in the case of a Fixed Rate
Borrowing with an Interest Period of more than 90&nbsp;days&#146; duration (unless
otherwise specified in the applicable Competitive Bid Request), each day prior
to the last day of such Interest Period that occurs at intervals of 90&nbsp;days&#146;
duration after the first day of such Interest Period, and any other dates that
are specified in the applicable Competitive Bid Request as Interest Payment
Dates with respect to such Borrowing and (d)&nbsp;with respect to any Swingline
Loan, the day that such Loan is required to be repaid.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Interest Period</u>&#148; means (a)&nbsp;with
respect to any Eurodollar Borrowing, the period commencing on the date of such
Borrowing and ending on the numerically corresponding day in the calendar month
that is seven days or one, two, three or six&nbsp;months thereafter, as the
Borrower may elect and (b)&nbsp;with respect to any Fixed Rate Borrowing, the
period (which shall not be less than seven&nbsp;days or more than
180&nbsp;days) commencing on the date of such Borrowing and ending on the date
specified in the applicable Competitive Bid Request; <u>provided</u>, that
(i)&nbsp;if any Interest Period would end on a day other than a Business Day,
such Interest Period shall be extended to the next succeeding Business Day
unless, in the case of a Eurodollar Borrowing only, such next succeeding
Business Day would fall in the next calendar month, in which case such Interest
Period shall end on the next preceding Business Day and (ii)&nbsp;any Interest
Period pertaining to a Eurodollar Borrowing that commences on the last Business
Day of a calendar month (or on a day for which there is no numerically
corresponding day in the last calendar month of such Interest Period) shall end
on the last Business Day of the last calendar month of such Interest Period.&nbsp;
For purposes hereof, the date of a Borrowing initially shall be the date on
which such Borrowing is made and, in the case of a Revolving Borrowing,
thereafter shall be the effective date of the most recent conversion or
continuation of such Borrowing.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Inventory Ratio</u>&#148; means, as of any date,
the ratio of (a)&nbsp;the aggregate amount of inventory directly owned by the
Subsidiary Loan Parties as of such date, in the amount that would be reflected
on a balance sheet prepared as of such date in accordance with GAAP to
(b)&nbsp;the aggregate amount of inventory owned by Parent and the Subsidiaries
as of such date, in the amount that would be reflected on a balance sheet
prepared as of such date on a consolidated basis in accordance with GAAP; <u>provided</u>
that, to the extent that the amount of inventory owned directly by the
Bloomingdale&#146;s Parties exceeds the maximum liability of the Bloomingdale&#146;s
Parties with respect to the Obligations pursuant to the Guarantee Agreement as
of the relevant date of determination, such excess shall be excluded for purposes
of determining each of the amounts pursuant to clause (a) and clause (b) above.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>IRS</u>&#148; means the United States Internal
Revenue Service.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Issuing Bank</u>&#148; means, as the context may
require, (a)&nbsp;JPMorgan Chase Bank, N.A., (b)&nbsp;Bank of America, N.A.,
(c) solely in respect of any Existing Letter of Credit, the Person that is the
issuer thereof and (d)&nbsp;any other Lender that becomes an Issuing Bank
pursuant to Section&nbsp;2.06(k), in each case, in its capacity as an issuer of
Letters of Credit hereunder, and each such Person&#146;s successors in such capacity
as provided in Section&nbsp;2.06(i).&nbsp; Any Issuing Bank may, in its discretion,
arrange for one or more Letters of Credit to be issued by Affiliates of such
Issuing Bank, in which case the term &#147;Issuing Bank&#148; shall include any such
Affiliate with respect to Letters of Credit issued by such Affiliate.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>LC Disbursement</u>&#148; means a payment made
by an Issuing Bank pursuant to a Letter of Credit.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>LC Exposure</u>&#148; means, at any time, the
sum of (a)&nbsp;the aggregate undrawn amount of all outstanding Letters of
Credit at such time plus (b)&nbsp;the aggregate amount of all LC Disbursements
that have not yet been reimbursed by or on behalf of the Borrower at such
time.&nbsp; In the case of any Alternate Currency Letters of Credit or any LC
Disbursement in respect thereof, the LC Exposure attributable thereto shall be
the Dollar Amount thereof.&nbsp; The LC Exposure of any Lender at any time shall be
its Applicable Percentage of the total LC Exposure at such time.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Lender Parent</u>&#148; means, with respect to
any Lender, any Person in respect of which such Lender is a Subsidiary.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Lenders</u>&#148; means the Persons listed on
Schedule&nbsp;2.01 and any other Person that shall have become a party hereto
pursuant to an Assignment and Assumption, other than any such Person that
ceases to be a party hereto pursuant to an Assignment and Assumption.&nbsp; Unless
the context otherwise requires, the term &#147;Lenders&#148; includes each Swingline
Lender.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Letter of Credit</u>&#148; means each Existing
Letter of Credit and any letter of credit issued pursuant to this Agreement.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Leverage Ratio</u>&#148; means, at any date of
determination, the ratio of (a)&nbsp;Total Indebtedness as of such date to
(b)&nbsp;Consolidated EBITDA for the Measurement Period (or, if such date is
not the last day of a fiscal quarter, ended on the last day of the fiscal
quarter of Parent most recently ended prior to such date).</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>LIBO Rate</u>&#148; means, with respect to any
Eurodollar Borrowing for any Interest Period, the rate appearing on Reuters BBA
Libor Rates Page 3750 (or on any successor or substitute page of such Service,
or any successor to or substitute for such Service, providing rate quotations
comparable to those currently provided on such page of such Service, as
determined by the Paying Agent from time to time for purposes of providing
quotations of interest rates applicable to dollar deposits in the London
interbank market) at approximately 11:00&nbsp;a.m., London time, two Business
Days prior to the commencement of such Interest Period, as the rate for dollar
deposits with a maturity comparable to such Interest Period.&nbsp; In the event that
such rate is not available at such time for any reason, then the &#147;<u>LIBO Rate</u>&#148;
with respect to such Eurodollar Borrowing for such Interest Period shall be the
rate at which dollar deposits of $5,000,000 and for a maturity comparable to
such Interest Period are offered by the principal London office of the Paying
Agent in immediately available funds in the London interbank market at
approximately 11:00&nbsp;a.m., London time, two Business Days prior to the
commencement of such Interest Period.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Lien</u>&#148; means, with respect to any asset,
(a)&nbsp;any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance,
charge or security interest in, on or of such asset, (b)&nbsp;the interest of a
vendor or a lessor under any conditional sale agreement, capital lease or title
retention agreement (or any financing lease having substantially the same
economic effect as any of the foregoing) relating to such asset and (c)&nbsp;in
the case of securities, any purchase option, call or similar right of a third
party with respect to such securities.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Loan Documents</u>&#148; means this Agreement
and the Guarantee Agreement.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Loan Parties</u>&#148; means Parent, the
Borrower and the Subsidiary Loan Parties.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Loans</u>&#148; means the loans made by the
Lenders to the Borrower pursuant to this Agreement.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Margin</u>&#148; means, with respect to any
Competitive Loan bearing interest at a rate based on the LIBO Rate, the
marginal rate of interest, if any, to be added to or subtracted from the LIBO
Rate to determine the rate of interest applicable to such Loan, as specified by
the Lender making such Loan in its related Competitive Bid.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Material Adverse Effect</u>&#148; means an
effect that causes or results in or has a reasonable likelihood of causing or
resulting in any material adverse change in (a) the business, condition
(financial or otherwise), operations, performance or properties of Parent and
the Subsidiaries, taken as a whole, (b) the rights and remedies of any Agent or
any Lender under any Loan Document, (c) the ability of the Loan Parties, taken
as a whole, to perform their obligations under any Loan Document or (d) the
legality, validity or enforceability of any Loan Document.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Material Indebtedness</u>&#148; means
Indebtedness (other than the Loans and Letters of Credit), or obligations in
respect of one or more Swap Agreements, of any one or more of Parent and its
Subsidiaries in an aggregate principal amount exceeding $150,000,000.&nbsp; For
purposes of determining Material Indebtedness, the &#147;principal amount&#148; of the
obligations of Parent or any Subsidiary in respect of any Swap Agreement at any
time shall be the maximum aggregate amount (giving effect to any netting
agreements) that Parent or such Subsidiary would be required to pay if such
Swap Agreement were terminated at such time.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Material Subsidiary</u>&#148; means, as of any
date of determination, (a)&nbsp;the Borrower and (b)&nbsp;any other Subsidiary
having (i)&nbsp;assets with a value of not less than 5.0% of the total value of
the assets of Parent and its consolidated subsidiaries, taken as a whole, or
(ii)&nbsp;Consolidated EBITDA of not less than 5.0% of the Consolidated EBITDA
of Parent and its consolidated subsidiaries, taken as a whole, in each case as
of the end of or for the most recently completed fiscal year of Parent.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Maturity Date</u>&#148; means the date that is
four years after the Effective Date, as such date may be extended pursuant to
Section 2.22; <u>provided</u> that, if such date is not a Business Day, then
the Maturity Date shall be the next succeeding Business Day.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Maturity Date Extension Request</u>&#148; has
the meaning set forth in Section&nbsp;2.22(a).</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>May</u>&#148; means The May Department Stores
Company, a Delaware corporation.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Measurement Period</u>&#148; means, as of any
date of determination, the period of four fiscal quarters of Parent then most
recently ended on or prior to such date of determination.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Minor Subsidiary</u>&#148; means any Subsidiary
that is not a Material Subsidiary.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Moody&#146;s</u>&#148; means Moody&#146;s Investors
Service, Inc. or any successor thereto.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Multiemployer Plan</u>&#148; means a
multiemployer plan as defined in Section&nbsp;4001(a)(3) of ERISA.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Non-Defaulting Lender</u>&#148; means, at any
time, any Lender that is not a Defaulting Lender at such time.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Non-U.S. Lender</u>&#148; means a Lender that is
not a U.S. Person.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Obligations</u>&#148; has the meaning assigned
to such term in the Guarantee Agreement.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Other Connection Taxes</u>&#148; means, with
respect to any Recipient, Taxes imposed as a result of a present or former
connection between such Recipient and the jurisdiction imposing such Taxes
(other than a connection arising from such Recipient having executed,
delivered, enforced, become a party to, performed its obligations under,
received payments under, received or perfected a security interest under, or
engaged in any other transaction pursuant to, or enforced, any Loan Document,
or sold or assigned an interest in any Loan Document).</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Other Taxes</u>&#148; means any and all present
or future stamp or documentary taxes or any other excise or property Taxes
arising from any payment made under any Loan Document or from the execution,
delivery or enforcement of, or otherwise with respect to, any Loan Document,
except any such Taxes that are Other Connection Taxes imposed with respect to
an assignment (other than an assignment under Section&nbsp;2.19(b)).</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Parent</u>&#148; means Macy&#146;s, Inc., a Delaware
corporation.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Participant</u>&#148; has the meaning set forth
in Section&nbsp;9.04.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Patriot Act</u>&#148; means the Uniting and
Strengthening America by Providing Appropriate Tools Required to Intercept and
Obstruct Terrorism Act of 2001 (Title III of Pub. L. No.&nbsp;107&#8209;56
(signed into law October&nbsp;26, 2001)).</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Paying Agent</u>&#148; means JPMorgan Chase
Bank, N.A., in its capacity as paying agent for the Lenders hereunder and under
the other Loan Documents.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>PBGC</u>&#148; means the Pension Benefit
Guaranty Corporation referred to and defined in ERISA and any successor entity
performing similar functions.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";page-break-after:avoid'>&#147;<u>Permitted
Encumbrances</u>&#148; means:</p>

<p style='mso-style-name:"Indent Text 1\0022";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";'>(a)&nbsp;Liens imposed by law for taxes that are not yet
due or are being contested in compliance with Section&nbsp;5.03;</p>

<p style='mso-style-name:"Indent Text 1\0022";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";'>(b)&nbsp;carriers&#146;, warehousemen&#146;s, mechanics&#146;,
materialmen&#146;s, repairmen&#146;s and other like Liens imposed by law, arising in the
ordinary course of business and securing obligations that are not overdue by
more than 30&nbsp;days or are being contested in good faith by proper
proceedings;</p>

<p style='mso-style-name:"Indent Text 1\0022";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";'>(c)&nbsp;Liens (if any) arising by operation of law and
pledges and deposits made in the ordinary course of business in compliance with
workers&#146; compensation, unemployment insurance, old-age pensions and other
social security laws or regulations;</p>

<p style='mso-style-name:"Indent Text 1\0022";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";'>(d)&nbsp;deposits to secure the performance of bids, trade
contracts, leases, statutory obligations, surety and appeal bonds, performance
bonds and other obligations of a like nature, in each case in the ordinary
course of business;</p>

<p style='mso-style-name:"Indent Text 1\0022";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";'>(e) judgment liens in respect of judgments that do not
constitute an Event of Default under clause&nbsp;(k) of Article&nbsp;VII; and</p>

<p style='mso-style-name:"Indent Text 1\0022";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";'>(f)&nbsp;easements, zoning restrictions, rights-of-way and
similar encumbrances on real property imposed by law or arising in the ordinary
course of business that do not materially detract from the value of the
affected property to Parent or any Subsidiary or interfere with the ordinary
conduct of business of Parent or any Subsidiary;</p>

<p style='mso-style-name:"Body Text No Indent";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";'><u>provided</u> that the term &#147;Permitted
Encumbrances&#148; shall not include any Lien securing Indebtedness.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Person</u>&#148; means any natural person,
corporation, limited liability company, trust, joint venture, association,
company, partnership, Governmental Authority or other entity.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Plan</u>&#148; means any employee pension
benefit plan (other than a Multiemployer Plan) subject to the provisions of
Title&nbsp;IV of ERISA or Section&nbsp;412 of the Code or Section&nbsp;302 of
ERISA, sponsored, maintained or contributed to by the Borrower or any ERISA
Affiliate.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Prime Rate</u>&#148; means the rate of interest
per annum publicly announced from time to time by JPMorgan Chase Bank, N.A., as
its prime rate in effect at its principal office in New&nbsp;York City; each
change in the Prime Rate shall be effective from and including the date such
change is publicly announced as being effective.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Public Debt Ratings</u>&#148; means, as of any
date of determination (a)&nbsp;Parent&#146;s &#147;Senior Unsecured Rating&#148; most recently
announced by Moody&#146;s and (b)&nbsp;Parent&#146;s &#147;Corporate Credit Rating&#148; most
recently announced by S&amp;P.&nbsp; If Moody&#146;s or S&amp;P shall change the basis on
which such ratings are established, then the foregoing references shall be to
the then equivalent rating by Moody&#146;s or S&amp;P, as the case may be, as
determined by the Paying Agent.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Ratings Event</u>&#148; means the date on which
the Public Debt Ratings are Baa2 or BBB (in each case with stable outlook) or
better; <u>provided</u> that (i) if a Ratings Event is based on a Public Debt
Rating by Moody&#146;s, the S&amp;P rating must be at least BBB- (with stable
outlook or better) and (ii) if a Ratings Event is based on a Public Debt Rating
by S&amp;P, the Moody&#146;s rating must be at least Baa3 (with stable outlook or
better).</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Recipient</u>&#148; means, as applicable,
(a)&nbsp;the Administrative Agents, (b)&nbsp;any Lender and (c)&nbsp;the
Issuing Bank.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Register</u>&#148; has the meaning set forth in
Section&nbsp;9.04.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Related Parties</u>&#148; means, with respect to
any specified Person, such Person&#146;s Affiliates and the respective directors,
officers, employees, agents and advisors of such Person and such Person&#146;s
Affiliates.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Required Lenders</u>&#148; means, at any time,
Lenders having Revolving Credit Exposures and unused Commitments representing
more than 50% of the sum of the total Revolving Credit Exposures and unused
Commitments at such time; <u>provided</u> that, for purposes of declaring the
Loans to be due and payable pursuant to Article&nbsp;VII, and for all purposes
after the Loans become due and payable pursuant to Article&nbsp;VII and the
Commitments expire or terminate, the outstanding Competitive Loans of the
Lenders shall be included in their respective Revolving Credit Exposures in
determining the Required Lenders.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Reset Date</u>&#148; has the meaning set forth
in Section&nbsp;2.21(a).</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Responsible Officer</u>&#148; means any executive
officer of Parent or any Subsidiary or any other officer of Parent or any
Subsidiary responsible for overseeing or reviewing compliance with this
Agreement or any other Loan Document.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Revolving Credit Exposure</u>&#148; means, with
respect to any Lender at any time, the sum of the outstanding principal amount
of such Lender&#146;s Revolving Loans and its LC Exposure and Swingline Exposure at
such time.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Revolving Loan</u>&#148; means a Loan made
pursuant to Section&nbsp;2.03.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>S&amp;P</u>&#148; means Standard&nbsp;&amp;
Poor&#146;s Ratings Service or any successor thereto.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Spot Exchange Rate</u>&#148; means, on any day,
with respect to any Alternate Currency in which an Alternate Currency Letter of
Credit (or LC Disbursement thereunder) is denominated, the spot rate at which
dollars are offered on such day by the applicable Issuing Bank (or the Paying
Agent, in the case of determinations made by it) in London (or, in its
discretion, any other city in which it conducts its foreign exchange activities
in such Alternate Currency) for such Alternate Currency at approximately
11:00&nbsp;a.m. (local time in London or such other city).</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Statutory Reserve Rate</u>&#148; means a
fraction (expressed as a decimal), the numerator of which is the number one and
the denominator of which is the number one minus the aggregate of the maximum
reserve percentages (including any marginal, special, emergency or supplemental
reserves) expressed as a decimal established by the Board to which the Paying
Agent is subject for eurocurrency funding (currently referred to as
&#147;Eurocurrency Liabilities&#148; in Regulation&nbsp;D of the Board).&nbsp; Such reserve
percentages shall include those imposed pursuant to such Regulation&nbsp;D.&nbsp;
Eurodollar Loans shall be deemed to constitute eurocurrency funding and to be
subject to such reserve requirements without benefit of or credit for
proration, exemptions or offsets that may be available from time to time to any
Lender under such Regulation&nbsp;D or any comparable regulation.&nbsp; The
Statutory Reserve Rate shall be adjusted automatically on and as of the
effective date of any change in any reserve percentage.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>subsidiary</u>&#148; means, with respect to any
Person (the &#147;<u>parent</u>&#148;) at any date, any corporation, limited liability
company, partnership, association or other entity&nbsp;of which securities or
other ownership interests representing more than 50% of the equity or more than
50% of the ordinary voting power or, in the case of a partnership, more than
50% of the general partnership interests are, as of such date, owned,
controlled or held by the parent or one or more subsidiaries of the parent or by
the parent and one or more subsidiaries of the parent.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Subsidiary</u>&#148; means any subsidiary of
Parent.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Subsidiary Guarantee Termination Date</u>&#148;&nbsp;
means the date on which the Borrower gives notice pursuant to Section 9.16 that
the conditions to the termination of Subsidiary Guarantors set forth in Section
9.16 shall have been satisfied.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Subsidiary Guarantee Release Ratings Event</u>&#148;
means the date on which the Public Debt Ratings are Baa3 and BBB- (in each case
with stable outlook) or better.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Subsidiary Loan Party</u>&#148; means any
subsidiary of the Borrower that is organized under the laws of the United
States of America or any State thereof or the District of Columbia.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Swap Agreement</u>&#148; means any agreement
with respect to any swap, forward, future or derivative transaction or option
or similar agreement involving, or settled by reference to, one or more rates,
currencies, commodities, equity or debt instruments or securities, or economic,
financial or pricing indices or measures of economic, financial or pricing risk
or value or any similar transaction or any combination of these transactions; <u>provided</u>
that no phantom stock or similar plan providing for payments only on account of
services provided by current or former directors, officers, employees or
consultants of Parent or the Subsidiaries shall be a Swap Agreement.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Swingline Exposure</u>&#148; means, at any time,
the aggregate principal amount of all Swingline Loans outstanding at such
time.&nbsp; The Swingline Exposure of any Lender at any time shall be its Applicable
Percentage of the total Swingline Exposure at such time.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Swingline Lender</u>&#148; means, as the context
may require, (a)&nbsp;JPMorgan Chase Bank, N.A., (b)&nbsp;Bank of America,
N.A., and (c)&nbsp;any other Lender that becomes a Swingline Lender pursuant to
Section&nbsp;2.05(d), in each case in its capacity as lender of Swingline Loans
hereunder.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Swingline Loan</u>&#148; means a Loan made
pursuant to Section&nbsp;2.05.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Taxes</u>&#148; means any and all present or
future taxes, levies, imposts, duties, deductions, withholdings, assessments,
fees or other charges imposed by any Governmental Authority, including any
interest, additions to tax or penalties applicable thereto.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Total Commitments</u>&#148; means, at any time,
the aggregate amount of the Lenders&#146; Commitments at such time.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Total Indebtedness</u>&#148; means, as of any
date, the aggregate principal amount of Indebtedness of Parent and the
Subsidiaries outstanding as of such date, in the amount that would be reflected
on a balance sheet prepared as of such date on a consolidated basis in
accordance with GAAP; <u>provided</u> that any write-ups or write&#8209;downs
of long-term Indebtedness (including current portions) of May and its
subsidiaries as a result of the Acquisition shall be disregarded.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Trade Letter of Credit</u>&#148; means any
Letter of Credit that is issued for the benefit of a supplier of inventory to
Parent or any Subsidiary to effect payment for such inventory, the conditions
to drawing under which include the presentation to the applicable Issuing Bank
of negotiable bills of lading, invoices and related documents sufficient, in the
judgment of such Issuing Bank, to create a valid and perfected lien on or
security interest in such inventory, bills of lading, invoices and related
documents in favor of such Issuing Bank.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Transactions</u>&#148; means the execution,
delivery and performance by each Loan Party of the Loan Documents to which it
is to be a party, the borrowing of Loans, the use of the proceeds thereof and
the issuance of Letters of Credit hereunder.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Type</u>&#148;, when used in reference to any
Loan or Borrowing, refers to whether the rate of interest on such Loan, or on
the Loans comprising such Borrowing, is determined by reference to the Adjusted
LIBO Rate, the Alternate Base Rate or, in the case of a Competitive Loan or
Borrowing, the LIBO Rate or a Fixed Rate.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:11.0pt'>&#147;<u>U.S.&nbsp;Person</u>&#148;
means a &#147;United&nbsp;States person&#148; within the meaning of
Section&nbsp;7701(a)(30) of the Code.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>U.S.&nbsp;Tax Certificate</u>&#148; has the
meaning assigned to such term in Section&nbsp;2.17(f)(ii)(D)(2).</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Withdrawal Liability</u>&#148; means liability
to a Multiemployer Plan as a result of a complete or partial withdrawal from
such Multiemployer Plan, as such terms are defined in Part&nbsp;I of
Subtitle&nbsp;E of Title&nbsp;IV of ERISA.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&#147;<u>Withholding Agent</u>&#148; means the Borrower
and the Paying Agent.</p>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744169">SECTION 1.02.&nbsp; <u>Classification
of Loans and Borrowings.</u>&nbsp; For purposes of this Agreement, Loans may be
classified and referred to by Class (<u>e.g.</u>, a &#147;Revolving Loan&#148;) or by
Type (<u>e.g.</u>, a &#147;Eurodollar Loan&#148;) or by Class and Type (<u>e.g.</u>, a
&#147;Eurodollar Revolving Loan&#148;).&nbsp; Borrowings also may be classified and referred
to by Class (<u>e.g.</u>, a &#147;Revolving Borrowing&#148;) or by Type (<u>e.g.</u>, a
&#147;Eurodollar Borrowing&#148;) or by Class and Type (<u>e.g.</u>, a &#147;Eurodollar
Revolving Borrowing&#148;).</a></h2>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744170">SECTION 1.03.&nbsp; <u>Terms
Generally.</u>&nbsp; The definitions of terms herein shall apply equally to the
singular and plural forms of the terms defined.&nbsp; Whenever the context may
require, any pronoun shall include the corresponding masculine, feminine and
neuter forms.&nbsp; The words &#147;include&#148;, &#147;includes&#148; and &#147;including&#148; shall be deemed
to be followed by the phrase &#147;without limitation&#148;.&nbsp; The word &#147;will&#148; shall be
construed to have the same meaning and effect as the word &#147;shall&#148;.&nbsp; Unless the
context requires otherwise (a)&nbsp;any definition of or reference to any
agreement, instrument or other document herein shall be construed as referring
to such agreement, instrument or other document as from time to time amended,
supplemented or otherwise modified (subject to any restrictions on such
amendments, supplements or modifications set forth herein), (b)&nbsp;any
reference herein to any Person shall be construed to include such Person&#146;s
successors and assigns, (c)&nbsp;the words &#147;herein&#148;, &#147;hereof&#148; and &#147;hereunder&#148;,
and words of similar import, shall be construed to refer to this Agreement in
its entirety and not to any particular provision hereof, (d)&nbsp;all
references herein to Articles, Sections, Exhibits and Schedules shall be
construed to refer to Articles and Sections of, and Exhibits and Schedules to,
this Agreement and (e)&nbsp;the words &#147;asset&#148; and &#147;property&#148; shall be construed
to have the same meaning and effect and to refer to any and all tangible and
intangible assets and properties, including cash, securities, accounts and
contract rights.</a></h2>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744171">SECTION 1.04.&nbsp; <u>Accounting
Terms; GAAP.</u>&nbsp; Except as otherwise expressly provided herein, all terms of
an accounting or financial nature shall be construed in accordance with GAAP,
as in effect from time to time; <u>provided</u> that (a) for purposes of
determining compliance with any provision of this Agreement, the determination
of whether a lease is to be treated as an operating lease or capital lease
shall be made without giving effect to any change in accounting for leases
pursuant to GAAP resulting from the implementation of proposed Accounting
Standards Update (ASU) Leases (Topic 840) issued August&nbsp;17,&nbsp;2010, or
any successor proposal, (b) if the Borrower notifies the Paying Agent that the
Borrower requests an amendment to any provision hereof to eliminate the effect
of any change occurring after the date hereof in GAAP or in the application
thereof on the operation of such provision (or if the Paying Agent notifies the
Borrower that the Required Lenders request an amendment to any provision hereof
for such purpose), regardless of whether any such notice is given before or
after such change in GAAP or in the application thereof, then such provision
shall be interpreted on the basis of GAAP as in effect and applied immediately
before such change shall have become effective until such notice shall have
been withdrawn or such provision amended in accordance herewith and (c)
notwithstanding any other provision contained herein, all terms of an
accounting or financial nature used herein shall be construed, and all
computations of amounts and ratios referred to herein shall be made, without
giving effect to any election under Financial Accounting Standards Board
Accounting Standards Codification Topic 825, or any successor thereto, to value
any Indebtedness of Parent or any Subsidiary at &#147;fair value&#148;, as defined
therein.</a></h2>

<h1 style='mso-style-name:"Heading 1\,h1\,H1";margin-top:24.0pt;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;text-indent:0in;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;text-decoration:underline;margin-left:0in;text-indent:0in'>ARTICLE
II<br>
<a name="_Toc295744172"><br>
The Credits</a></h1>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744173">SECTION 2.01.&nbsp; <u>Commitments.</u>&nbsp;
Subject to the terms and conditions set forth herein, each Lender agrees to
make Revolving Loans to the Borrower in Dollars from time to time during the
Availability Period in an aggregate principal amount that will not result in
(a)&nbsp;such Lender&#146;s Revolving Credit Exposure exceeding such Lender&#146;s
Commitment or (b)&nbsp;the sum of the total Revolving Credit Exposures plus the
aggregate principal amount of outstanding Competitive Loans exceeding the Total
Commitments.&nbsp; Within the foregoing limits and subject to the terms and
conditions set forth herein, the Borrower may borrow, prepay and reborrow Revolving
Loans.</a></h2>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744174">SECTION 2.02.&nbsp; <u>Loans and
Borrowings.</u>&nbsp; </a>(a)&nbsp; Each Revolving Loan shall be made as part of a
Borrowing consisting of Revolving Loans made by the Lenders ratably in
accordance with their respective Commitments.&nbsp; Each Competitive Loan shall be
made in accordance with the procedures set forth in Section&nbsp;2.04.&nbsp; The
failure of any Lender to make any Loan required to be made by it shall not
relieve any other Lender of its obligations hereunder; <u>provided</u> that the
Commitments and Competitive Bids of the Lenders are several and no Lender shall
be responsible for any other Lender&#146;s failure to make Loans as required.</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; Subject to Section&nbsp;2.14, (i)&nbsp;each
Revolving Borrowing shall be comprised entirely of ABR Loans or Eurodollar
Loans as the Borrower may request in accordance herewith, and (ii)&nbsp;each
Competitive Borrowing shall be comprised entirely of Eurodollar Loans or Fixed
Rate Loans as the Borrower may request in accordance herewith.&nbsp; Each Swingline
Loan shall be an ABR Loan.&nbsp; Each Lender at its option may make any Eurodollar
Loan by causing any domestic or foreign branch or Affiliate of such Lender to
make such Loan; <u>provided</u> that any exercise of such option shall not
affect the obligation of the Borrower to repay such Loan in accordance with the
terms of this Agreement.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(c)&nbsp; At the commencement of each Interest Period
for any Eurodollar Revolving Borrowing, such Borrowing shall be in an aggregate
amount that is an integral multiple of $5,000,000 and not less than
$5,000,000.&nbsp; At the time that each ABR Revolving Borrowing is made, such
Borrowing shall be in an aggregate amount that is an integral multiple of
$5,000,000 and not less than $5,000,000; <u>provided</u> that an ABR Revolving
Borrowing may be in an aggregate amount that is equal to the entire unused
balance of the Total Commitments or that is required to finance the
reimbursement of an LC Disbursement as contemplated by Section&nbsp;2.06(e).&nbsp;
Each request for a Competitive Borrowing shall be in an aggregate amount that
is an integral multiple of $1,000,000 and not less than $10,000,000.&nbsp; Each
Swingline Loan shall be in an amount that is an integral multiple of $1,000,000
and not less than $5,000,000.&nbsp; Borrowings of more than one Type and Class may
be outstanding at the same time; <u>provided</u> that there shall not at any
time be more than a total of ten Eurodollar Revolving Borrowings outstanding.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(d)&nbsp; Notwithstanding any other provision of this
Agreement, the Borrower shall not be entitled to request, or to elect to
convert or continue, any Borrowing if the Interest Period requested with
respect thereto would end after the Maturity Date.</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744175">SECTION 2.03.&nbsp; <u>Requests
for Revolving Borrowings.</u>&nbsp; To request a Revolving Borrowing, the Borrower
shall notify the Paying Agent of such request by telephone (a)&nbsp;in the case
of a Eurodollar Borrowing, not later than 11:00&nbsp;a.m.,
New&nbsp;York&nbsp;City time, three Business Days before the date of the
proposed Borrowing or (b)&nbsp;in the case of an ABR Borrowing, not later than
11:00&nbsp;a.m., New&nbsp;York&nbsp;City time on the date of the proposed
Borrowing; <u>provided</u> that any such notice of an ABR Revolving Borrowing
to finance the reimbursement of an LC Disbursement as contemplated by
Section&nbsp;2.06(e) may be given not later than 10:00 a.m., New&nbsp;York City
time, on the date of the proposed Borrowing.&nbsp; Each such telephonic Borrowing
Request shall be irrevocable and shall be confirmed promptly by hand delivery
or telecopy to the Paying Agent of a written Borrowing Request in a form
approved by the Paying Agent and signed by the Borrower.&nbsp; Each such telephonic
and written Borrowing Request shall specify the following information in
compliance with Section&nbsp;2.02:</a></h2>

<h5 style='mso-style-name:"Heading 5\,h5\,H5";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(i) the aggregate amount of the requested Borrowing;</h5>

<h5 style='mso-style-name:"Heading 5\,h5\,H5";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(ii) the date of such Borrowing, which shall be a Business Day;</h5>

<h5 style='mso-style-name:"Heading 5\,h5\,H5";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(iii) whether such Borrowing is to be an ABR Borrowing or a Eurodollar
Borrowing;</h5>

<h5 style='mso-style-name:"Heading 5\,h5\,H5";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(iv) in the case of a Eurodollar Borrowing, the initial Interest Period to
be applicable thereto, which shall be a period contemplated by the definition
of the term &#147;Interest Period&#148;; and</h5>

<h5 style='mso-style-name:"Heading 5\,h5\,H5";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(v) the location and number of the Borrower&#146;s account to which funds are to
be disbursed, which shall comply with the requirements of Section&nbsp;2.07.</h5>

<p style='mso-style-name:"Body Text No Indent";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>If no election as to the Type of Revolving Borrowing
is specified, then the requested Revolving Borrowing shall be an ABR
Borrowing.&nbsp; If no Interest Period is specified with respect to any requested
Eurodollar Revolving Borrowing, then the Borrower shall be deemed to have
selected an Interest Period of one month&#146;s duration.&nbsp; Promptly following
receipt of a Borrowing Request in accordance with this Section, the Paying
Agent shall advise each Lender of the details thereof and of the amount of such
Lender&#146;s Loan to be made as part of the requested Borrowing.</p>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744176">SECTION 2.04.&nbsp; <u>Competitive
Bid Procedure.</u>&nbsp; </a>(a)&nbsp; Subject to the terms and conditions set forth
herein, from time to time during the Availability Period the Borrower may
request Competitive Bids and may (but shall not have any obligation to) accept
Competitive Bids and borrow Competitive Loans; <u>provided</u> that the sum of
the total Revolving Credit Exposures plus the aggregate principal amount of
outstanding Competitive Loans at any time shall not exceed the Total
Commitments.&nbsp; To request Competitive Bids, the Borrower shall notify the Paying
Agent of such request by telephone, in the case of a Eurodollar Borrowing, not
later than 11:00&nbsp;a.m., New&nbsp;York City time, four Business Days before
the date of the proposed Borrowing and, in the case of a Fixed Rate Borrowing,
not later than 10:00&nbsp;a.m., New&nbsp;York City time, one Business Day
before the date of the proposed Borrowing; <u>provided</u> that the Borrower
may submit up to (but not more than) three Competitive Bid Requests on the same
day, but a Competitive Bid Request shall not be made within five Business Days
after the date of any previous Competitive Bid Request, unless any and all such
previous Competitive Bid Requests shall have been withdrawn or all Competitive
Bids received in response thereto rejected.&nbsp; Each such telephonic Competitive
Bid Request shall be confirmed promptly by hand delivery or telecopy to the
Paying Agent of a written Competitive Bid Request in a form approved by the
Paying Agent and signed by the Borrower.&nbsp; Each such telephonic and written
Competitive Bid Request shall specify the following information in compliance
with Section&nbsp;2.02:</h2>

<h5 style='mso-style-name:"Heading 5\,h5\,H5";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(i) the aggregate amount of the requested Borrowing;</h5>

<h5 style='mso-style-name:"Heading 5\,h5\,H5";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(ii) the date of such Borrowing, which shall be a Business Day;</h5>

<h5 style='mso-style-name:"Heading 5\,h5\,H5";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(iii) whether such Borrowing is to be a Eurodollar Borrowing or a Fixed
Rate Borrowing;</h5>

<h5 style='mso-style-name:"Heading 5\,h5\,H5";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(iv) the Interest Period to be applicable to such Borrowing, which shall be
a period contemplated by the definition of the term &#147;Interest Period&#148;; and</h5>

<h5 style='mso-style-name:"Heading 5\,h5\,H5";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(v) the location and number of the Borrower&#146;s account to which funds are to
be disbursed, which shall comply with the requirements of Section&nbsp;2.07.</h5>

<p style='mso-style-name:"Body Text No Indent";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>Promptly following receipt of a Competitive Bid
Request in accordance with this Section, the Paying Agent shall notify the
Lenders of the details thereof by telecopy, inviting the Lenders to submit
Competitive Bids.</p>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; Each Lender may (but shall not have any
obligation to) make one or more irrevocable Competitive Bids to the Borrower in
response to a Competitive Bid Request.&nbsp; Each Competitive Bid by a Lender must
be in a form approved by the Paying Agent and must be received by the Paying
Agent by telecopy, in the case of a Eurodollar Competitive Borrowing, not later
than 9:30&nbsp;a.m., New&nbsp;York City time, three Business Days before the
proposed date of such Competitive Borrowing, and in the case of a Fixed Rate
Borrowing, not later than 9:30&nbsp;a.m., New&nbsp;York City time, on the
proposed date of such Competitive Borrowing.&nbsp; Competitive Bids that do not
conform substantially to the form approved by the Paying Agent may be rejected
by the Paying Agent, and the Paying Agent shall notify the applicable Lender as
promptly as practicable.&nbsp; Each Competitive Bid shall specify (i)&nbsp;the
principal amount (which shall be a minimum of $5,000,000 and an integral
multiple of $1,000,000 and which may equal the entire principal amount of the
Competitive Borrowing requested by the Borrower) of the Competitive Loan or
Loans that the Lender is willing to make, (ii)&nbsp;the Competitive Bid Rate or
Rates at which the Lender is prepared to make such Loan or Loans (expressed as
a percentage rate per annum in the form of a decimal to no more than four
decimal places) and (iii)&nbsp;the Interest Period applicable to each such Loan
and the last day thereof.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(c)&nbsp; The Paying Agent shall notify the Borrower by
telecopy of the Competitive Bid Rate and the principal amount specified in each
Competitive Bid and the identity of the Lender that shall have made such
Competitive Bid, in the case of a Eurodollar Competitive Borrowing, not later
than 10:00 a.m., New York City time, three Business Days before the proposed
date of such Competitive Borrowing, and in the case of a Fixed Rate Borrowing,
not later than 10:00 a.m., New York City time, on the proposed date of such
Competitive Borrowing.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(d)&nbsp; Subject only to the provisions of this
paragraph, the Borrower may accept or reject any Competitive Bid.&nbsp; The Borrower
shall notify the Paying Agent by telephone, confirmed by telecopy in a form
approved by the Paying Agent, whether and to what extent it has decided to
accept or reject each Competitive Bid, in the case of a Eurodollar Competitive
Borrowing, not later than 1:00&nbsp;p.m., New&nbsp;York City time, three
Business Days before the date of the proposed Competitive Borrowing, and in the
case of a Fixed Rate Borrowing, not later than 10:30&nbsp;a.m., New&nbsp;York
City time, on the proposed date of the Competitive Borrowing; <u>provided</u>
that (i)&nbsp;the failure of the Borrower to give such notice shall be deemed
to be a rejection of each Competitive Bid, (ii)&nbsp;the Borrower shall not
accept a Competitive Bid made at a particular Competitive Bid Rate if the
Borrower rejects a Competitive Bid made at a lower Competitive Bid Rate,
(iii)&nbsp;the aggregate amount of the Competitive Bids accepted by the Borrower
shall not exceed the aggregate amount of the requested Competitive Borrowing
specified in the related Competitive Bid Request, (iv)&nbsp;to the extent
necessary to comply with clause&nbsp;(iii) above, the Borrower may accept
Competitive Bids at the same Competitive Bid Rate in part, which acceptance, in
the case of multiple Competitive Bids at such Competitive Bid Rate, shall be
made pro rata in accordance with the amount of each such Competitive Bid, and
(v)&nbsp;except pursuant to clause&nbsp;(iv) above, no Competitive Bid shall be
accepted for a Competitive Loan unless such Competitive Loan is in a minimum
principal amount of $5,000,000 and an integral multiple of $1,000,000; <u>provided
further</u> that if a Competitive Loan must be in an amount less than
$5,000,000 because of the provisions of clause&nbsp;(iv) above, such
Competitive Loan may be for a minimum of $1,000,000 or any integral multiple
thereof, and in calculating the pro rata allocation of acceptances of portions
of multiple Competitive Bids at a particular Competitive Bid Rate pursuant to
clause&nbsp;(iv) the amounts shall be rounded to integral multiples of
$1,000,000 in a manner determined by the Borrower.&nbsp; A notice given by the
Borrower pursuant to this paragraph shall be irrevocable.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(e)&nbsp; The Paying Agent shall promptly notify each
bidding Lender by telecopy whether or not its Competitive Bid has been accepted
(and, if so, the amount and Competitive Bid Rate so accepted), and each
successful bidder will thereupon become bound, subject to the terms and
conditions hereof, to make the Competitive Loan in respect of which its
Competitive Bid has been accepted.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(f)&nbsp; If the Paying Agent shall elect to submit a
Competitive Bid in its capacity as a Lender, it shall submit such Competitive
Bid directly to the Borrower at least one quarter of an hour earlier than the
time by which the other Lenders are required to submit their Competitive Bids
to the Paying Agent pursuant to paragraph&nbsp;(b) of this Section.</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744177">SECTION 2.05.&nbsp; <u>Swingline
Loans.</u>&nbsp; </a>(a)&nbsp; Subject to the terms and conditions set forth herein, each
Swingline Lender agrees to make Swingline Loans to the Borrower from time to
time during the Availability Period, in an aggregate principal amount at any
time outstanding that will not result in (i)&nbsp;the aggregate principal
amount of outstanding Swingline Loans exceeding $100,000,000 or (ii)&nbsp;the
sum of the total Revolving Credit Exposures plus the aggregate principal amount
of outstanding Competitive Loans exceeding the Total Commitments; <u>provided</u>
that a Swingline Lender shall not be required to make a Swingline Loan to
refinance an outstanding Swingline Loan.&nbsp; Within the foregoing limits and
subject to the terms and conditions set forth herein, the Borrower may borrow,
prepay and reborrow Swingline Loans.</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; To request a Swingline Loan, the Borrower
shall notify the Paying Agent of such request by telephone (confirmed by
telecopy), not later than 12:00&nbsp;noon, New&nbsp;York City time, on the day
of a proposed Swingline Loan.&nbsp; Each such notice shall be irrevocable and shall
specify the requested date (which shall be a Business Day), the amount of the
requested Swingline Loan and the Swingline Lender from which such Swingline
Loan is requested.&nbsp; The Paying Agent will promptly advise the applicable
Swingline Lender of any such notice received from the Borrower.&nbsp; Such Swingline
Lender shall make each Swingline Loan available to the Borrower by means of a
credit to the general deposit account of the Borrower with such Swingline
Lender (or, in the case of a Swingline Loan made to finance the reimbursement
of an LC Disbursement as provided in Section&nbsp;2.06(e), by remittance to the
applicable Issuing Bank) as promptly as practicable, but no later than
3:00&nbsp;p.m., New&nbsp;York City time, on the requested date of such
Swingline Loan.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(c)&nbsp; A Swingline Lender may by written notice given
to the Paying Agent not later than 10:00&nbsp;a.m., New&nbsp;York City time, on
any Business Day require the Lenders to acquire participations on such Business
Day in all or a portion of its Swingline Loans outstanding.&nbsp; Such notice shall
specify the aggregate amount of Swingline Loans in which Lenders will
participate.&nbsp; Promptly upon receipt of such notice, the Paying Agent will give
notice thereof to each Lender, specifying in such notice such Lender&#146;s
Applicable Percentage of such Swingline Loan or Loans.&nbsp; Each Lender hereby
absolutely and unconditionally agrees, upon receipt of notice as provided
above, to pay to the Paying Agent, for the account of the applicable Swingline
Lender, such Lender&#146;s Applicable Percentage of such Swingline Loan or Loans.&nbsp;
Each Lender acknowledges and agrees that, in making any Swingline Loan, any
Swingline Lender shall be entitled to rely, and shall not incur any liability
for relying, upon the representations and warranties of the Borrower deemed
made pursuant to Section&nbsp;4.02, unless, at least two Business Days prior to
the time such Swingline Loan was made, the Required Lenders shall have notified
the applicable Swingline Lender (with a copy to the Administrative Agents) in
writing that, as a result of one or more events or circumstances described in
such notice, one or more of the conditions precedent set forth in
Section&nbsp;4.02(a) or 4.02(b) would not be satisfied if such Swingline Loan
were then made (it being understood and agreed that, in the event such
Swingline Lender shall have received any such notice, it shall have no
obligation to make any Swingline Loan until and unless it shall be satisfied
that the events and circumstances described in such notice shall have been
cured or otherwise shall have ceased to exist).&nbsp; Each Lender acknowledges and
agrees that its obligation to acquire participations in Swingline Loans
pursuant to this paragraph is absolute and unconditional and shall not be
affected by any circumstance whatsoever, including the occurrence and
continuance of a Default or reduction or termination of the Commitments, and
that each such payment shall be made without any offset, abatement, withholding
or reduction whatsoever.&nbsp; Each Lender shall comply with its obligation under
this paragraph by wire transfer of immediately available funds, in the same
manner as provided in Section&nbsp;2.07 with respect to Loans made by such
Lender (and Section&nbsp;2.07 shall apply, <u>mutatis</u> <u>mutandis</u>, to
the payment obligations of the Lenders), and the Paying Agent shall promptly
pay to the applicable Swingline Lender the amounts so received by it from the
Lenders.&nbsp; The Paying Agent shall notify the Borrower of any participations in
any Swingline Loan acquired pursuant to this paragraph, and thereafter payments
in respect of such Swingline Loan shall be made to the Paying Agent and not to
the applicable Swingline Lender.&nbsp; Any amounts received by a Swingline Lender
from the Borrower (or other party on behalf of the Borrower) in respect of a
Swingline Loan after receipt by such Swingline Lender of the proceeds of a sale
of participations therein shall be promptly remitted to the Paying Agent; any
such amounts received by the Paying Agent shall be promptly remitted by the
Paying Agent to the Lenders that shall have made their payments pursuant to
this paragraph and to such Swingline Lender, as their interests may appear; <u>provided</u>
that any such payment so remitted shall be repaid to the applicable Swingline
Lender or to the Paying Agent, as applicable, if and to the extent such payment
is required to be refunded to the Borrower for any reason.&nbsp; The purchase of
participations in a Swingline Loan pursuant to this paragraph shall not relieve
the Borrower of any default in the payment thereof.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(d)&nbsp; Any Lender may at any time become a Swingline
Lender hereunder by written agreement between the Borrower and such Lender,
subject to notice to, and the consent of, the Paying Agent, which consent shall
not unreasonably be withheld.&nbsp; From and after the effective date of any such
Lender becoming a Swingline Lender, such Lender shall have the rights and
obligations of a Swingline Lender under this Agreement.</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744178">SECTION 2.06.&nbsp; <u>Letters
of Credit.</u>&nbsp; </a>(a)&nbsp; <u>General.</u>&nbsp; Subject to the terms and conditions
set forth herein, the Borrower may request the issuance of Letters of Credit
for its own account, in a form reasonably acceptable to the Paying Agent and
the applicable Issuing Bank, at any time and from time to time during the
Availability Period.&nbsp; In the event of any inconsistency between the terms and
conditions of this Agreement and the terms and conditions of any form of letter
of credit application or other agreement submitted by the Borrower to, or
entered into by the Borrower with, any Issuing Bank relating to any Letter of
Credit, the terms and conditions of this Agreement shall control.&nbsp; On the
Effective Date, each Existing Letter of Credit shall be deemed to be a Letter
of Credit for all purposes hereof and shall be deemed to have been issued
hereunder on the Effective Date.&nbsp; All Letters of Credit shall provide for
drawings thereunder to be denominated in dollars except as provided for
Alternate Currency Letters of Credit pursuant to Section&nbsp;2.06(m).</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; <u>Notice of Issuance, Amendment, Renewal,
Extension; Certain Conditions.</u>&nbsp; To request the issuance of a Letter of
Credit (or the amendment, renewal or extension of an outstanding Letter of
Credit), the Borrower shall hand deliver or telecopy (or transmit by electronic
communication, if arrangements for doing so have been approved by the relevant
Issuing Bank) to the relevant Issuing Bank (reasonably in advance of the
requested date of issuance, amendment, renewal or extension) a notice
requesting the issuance of a Letter of Credit, or identifying the Letter of
Credit to be amended, renewed or extended, and specifying the date of issuance,
amendment, renewal or extension (which shall be a Business Day), the date on
which such Letter of Credit is to expire (which shall comply with
paragraph&nbsp;(c) of this Section), the amount of such Letter of Credit, the
name and address of the beneficiary thereof and such other information as shall
be necessary to prepare, amend, renew or extend such Letter of Credit, and such
Issuing Bank shall promptly deliver a copy of such notice by telecopy to the
Paying Agent.&nbsp; If requested by the applicable Issuing Bank, the Borrower also
shall submit a letter of credit application on such Issuing Bank&#146;s standard
form in connection with any request for a Letter of Credit.&nbsp; A Letter of Credit
shall be issued, amended, renewed or extended only if (and upon issuance,
amendment, renewal or extension of each Letter of Credit the Borrower shall be
deemed to represent and warrant that), after giving effect to such issuance,
amendment, renewal or extension (i)&nbsp;the LC Exposure shall not exceed
$1,000,000,000, (ii) the portion of the LC Exposure attributable to Alternate
Currency Letters of Credit shall not exceed $100,000,000 and (iii)&nbsp;the sum
of the total Revolving Credit Exposures plus the aggregate principal amount of
outstanding Competitive Loans shall not exceed the Total Commitments.&nbsp; An
Issuing Bank shall not be under any obligation to issue any Letter of Credit if
any order, judgment or decree of any Governmental Authority shall by its terms
purport to enjoin or restrain such Issuing Bank from issuing such Letter of
Credit, or any law applicable to such Issuing Bank or any directive from any
Governmental Authority with jurisdiction over such Issuing Bank shall prohibit
such Issuing Bank from the issuance of letters of credit generally or such
Letter of Credit in particular.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(c)&nbsp; <u>Expiration Date.</u>&nbsp; Each Letter of Credit
shall expire at or prior to the close of business on the earlier of
(i)&nbsp;the date one year after the date of the issuance of such Letter of
Credit (or, in the case of any renewal or extension thereof, one year after
such renewal or extension) and (ii)&nbsp;the date that is five Business Days
prior to the Maturity Date.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(d)&nbsp; <u>Participations.</u>&nbsp; By the issuance of a
Letter of Credit (or an amendment to a Letter of Credit increasing the amount
thereof) and without any further action on the part of the applicable Issuing
Bank or the Lenders, the Issuing Bank in respect of such Letter of Credit
hereby grants to each Lender, and each Lender hereby acquires from such Issuing
Bank, a participation in such Letter of Credit equal to such Lender&#146;s Applicable
Percentage of the aggregate amount available to be drawn under such Letter of
Credit.&nbsp; In consideration and in furtherance of the foregoing, each Lender
hereby absolutely and unconditionally agrees to pay to the Paying Agent, for
the account of the applicable Issuing Bank, such Lender&#146;s Applicable Percentage
of each LC Disbursement made by such Issuing Bank and not reimbursed by the
Borrower on the date due as provided in paragraph&nbsp;(e) of this Section, or
of any reimbursement payment required to be refunded to the Borrower for any
reason (subject to Section 2.06(m), in the case of Alternate Currency Letters
of Credit).&nbsp; Each Lender acknowledges and agrees that its obligation to acquire
participations pursuant to this paragraph in respect of Letters of Credit is
absolute and unconditional and shall not be affected by any circumstance
whatsoever, including any amendment, renewal or extension of any Letter of
Credit or the occurrence and continuance of a Default or reduction or
termination of the Commitments, and that each such payment shall be made
without any offset, abatement, withholding or reduction whatsoever.&nbsp; On the
Effective Date and without any further action by any party hereto, each Issuing
Bank that has issued an Existing Letter of Credit shall be deemed to have
granted to each Lender, and each Lender shall be deemed to have acquired from
such Issuing Bank, a participation in each such Existing Letter of Credit in
accordance with the foregoing provisions of this paragraph&nbsp;(d).</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(e)&nbsp; <u>Reimbursement.</u>&nbsp; If an Issuing Bank
shall make any LC Disbursement in respect of a Letter of Credit, the Borrower
shall reimburse such LC Disbursement by paying to the Paying Agent an amount
equal to such LC Disbursement not later than 12:00&nbsp;noon, New&nbsp;York
City time, on the date that such LC Disbursement is made, if the Borrower shall
have received notice of such LC Disbursement prior to 10:00&nbsp;a.m.,
New&nbsp;York City time, on such date, or, if such notice has not been received
by the Borrower prior to such time on such date, then not later than
12:00&nbsp;noon, New&nbsp;York City time, on (i)&nbsp;the Business Day that the
Borrower receives such notice, if such notice is received prior to
10:00&nbsp;a.m., New&nbsp;York City time, on the day of receipt, or
(ii)&nbsp;the Business Day immediately following the day that the Borrower
receives such notice, if such notice is not received prior to such time on the
day of receipt; <u>provided</u> that in the case of a LC Disbursement in
respect of an Alternate Currency Letter of Credit, the times of day referred to
above in this clause (e) shall be deemed to be the local time at the place of
payment; <u>provided</u> <u>further</u> that, if such LC Disbursement is
denominated in dollars, the Borrower may, subject to the conditions to
borrowing set forth herein, request in accordance with Section&nbsp;2.03 or
2.05 that such payment be financed with an ABR Revolving Borrowing or Swingline
Loan in an equivalent amount and, to the extent so financed, the Borrower&#146;s
obligation to make such payment shall be discharged and replaced by the
resulting ABR Revolving Borrowing or Swingline Loan.&nbsp; If the Borrower fails to
make such payment when due, the Paying Agent shall notify each Lender of the
applicable LC Disbursement, the payment then due from the Borrower in respect
thereof and such Lender&#146;s Applicable Percentage thereof.&nbsp; Promptly following
receipt of such notice (but subject to Section 2.06(m), in the case of
Alternate Currency Letters of Credit), each Lender shall pay to the Paying
Agent its Applicable Percentage of the payment then due from the Borrower, in
the same manner as provided in Section&nbsp;2.07 with respect to Loans made by
such Lender (and Section&nbsp;2.07 shall apply, <u>mutatis</u> <u>mutandis</u>,
to the payment obligations of the Lenders), and the Paying Agent shall promptly
pay to the applicable Issuing Bank the amounts so received by it from the
Lenders.&nbsp; Promptly following receipt by the Paying Agent of any payment from
the Borrower pursuant to this paragraph, the Paying Agent shall distribute such
payment to the applicable Issuing Bank or, to the extent that Lenders have made
payments pursuant to this paragraph to reimburse such Issuing Bank, then to
such Lenders and such Issuing Bank as their interests may appear.&nbsp; Any payment
made by a Lender pursuant to this paragraph to reimburse an Issuing Bank for any
LC Disbursement (other than the funding of ABR Revolving Loans or a Swingline
Loan as contemplated above) shall not constitute a Loan and shall not relieve
the Borrower of its obligation to reimburse such LC Disbursement.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(f)&nbsp; <u>Obligations Absolute.</u>&nbsp; The Borrower&#146;s
obligation to reimburse LC Disbursements as provided in paragraph&nbsp;(e) of
this Section shall be absolute, unconditional and irrevocable, and shall be
performed strictly in accordance with the terms of this Agreement under any and
all circumstances whatsoever and irrespective of (i)&nbsp;any lack of validity
or enforceability of any Letter of Credit or this Agreement, or any term or
provision therein, (ii)&nbsp;any draft or other document presented under a
Letter of Credit proving to be forged, fraudulent or invalid in any respect or
any statement therein being untrue or inaccurate in any respect,
(iii)&nbsp;payment by an Issuing Bank under a Letter of Credit against
presentation of a draft or other document that does not comply with the terms
of such Letter of Credit, or (iv)&nbsp;any other event or circumstance
whatsoever, whether or not similar to any of the foregoing, that might, but for
the provisions of this Section, constitute a legal or equitable discharge of,
or provide a right of setoff against, the Borrower&#146;s obligations hereunder.&nbsp;
Neither the Paying Agent, the Lenders nor any Issuing Bank, nor any of their
Related Parties, shall have any liability or responsibility by reason of or in
connection with the issuance or transfer of any Letter of Credit or any payment
or failure to make any payment thereunder (irrespective of any of the
circumstances referred to in the preceding sentence), or any error, omission,
interruption, loss or delay in transmission or delivery of any draft, notice or
other communication under or relating to any Letter of Credit (including any
document required to make a drawing thereunder), any error in interpretation of
technical terms or any consequence arising from causes beyond the control of
any Issuing Bank; <u>provided</u> that the foregoing shall not be construed to
excuse an Issuing Bank from liability to the Borrower to the extent of any
direct damages (as opposed to consequential damages, claims in respect of which
are hereby waived by the Borrower to the extent permitted by applicable law) suffered
by the Borrower that are caused by such Issuing Bank&#146;s failure to exercise care
when determining whether drafts and other documents presented under a Letter of
Credit comply with the terms thereof.&nbsp; Unless otherwise separately agreed in
writing between the Borrower and the applicable Issuing Bank, (A) the parties
hereto expressly agree that, in the absence of gross negligence or wilful
misconduct on the part of such Issuing Bank (as finally determined by a court
of competent jurisdiction), such Issuing Bank shall be deemed to have exercised
care in each such determination, and (B) in furtherance of the foregoing and
without limiting the generality thereof, the parties agree that, with respect
to documents presented which appear on their face to be in substantial
compliance with the terms of a Letter of Credit, such Issuing Bank may, in its
sole discretion, either accept and make payment upon such documents without
responsibility for further investigation, regardless of any notice or
information to the contrary, or refuse to accept and make payment upon such
documents if such documents are not in strict compliance with the terms of such
Letter of Credit.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(g)&nbsp; <u>Disbursement Procedures.</u>&nbsp; The
applicable Issuing Bank shall, promptly following its receipt thereof, examine
all documents purporting to represent a demand for payment under a Letter of
Credit.&nbsp; Such Issuing Bank shall promptly notify the Paying Agent and the
Borrower by telephone (confirmed by telecopy) of such demand for payment and
whether such Issuing Bank has made or will make an LC Disbursement thereunder; <u>provided</u>
that any failure to give or delay in giving such notice shall not relieve the
Borrower of its obligation to reimburse such Issuing Bank and the Lenders with
respect to any such LC Disbursement.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(h)&nbsp; <u>Interim Interest.</u>&nbsp; If an Issuing Bank
shall make any LC Disbursement, then, unless the Borrower shall reimburse such
LC Disbursement in full on the date such LC Disbursement is made, the unpaid
amount thereof shall bear interest, for each day from and including the date
such LC Disbursement is made to but excluding the date that the Borrower
reimburses such LC Disbursement, at the rate per annum then applicable to ABR
Revolving Loans; <u>provided</u> that, if the Borrower fails to reimburse such
LC Disbursement when due pursuant to paragraph&nbsp;(e) of this Section, then
Section&nbsp;2.13(d) shall apply.&nbsp; Interest accrued pursuant to this paragraph
shall be for the account of the applicable Issuing Bank, except that interest
accrued on and after the date of payment by any Lender pursuant to
paragraph&nbsp;(e) of this Section to reimburse the applicable Issuing Bank
shall be for the account of such Lender to the extent of such payment.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(i)&nbsp; <u>Replacement of an Issuing Bank.</u>&nbsp; An
Issuing Bank may be replaced at any time by written agreement among the
Borrower, the Paying Agent, the replaced Issuing Bank and the successor Issuing
Bank.&nbsp; An Issuing Bank&#146;s obligations to issue additional Letters of Credit
hereunder may be terminated at any time by written agreement among the
Borrower, the Paying Agent and such Issuing Bank; <u>provided</u> that after
giving effect thereto there is at least one remaining Issuing Bank obligated to
issue Letters of Credit.&nbsp; The Paying Agent shall notify the Lenders of any such
replacement or termination of an Issuing Bank.&nbsp; At the time any such
replacement or termination shall become effective, the Borrower shall pay all
unpaid fees accrued for the account of the replaced or terminated Issuing Bank
pursuant to Section&nbsp;2.12(b).&nbsp; From and after the effective date of any
such replacement, the successor Issuing Bank shall have all the rights and
obligations of the replaced Issuing Bank under this Agreement with respect to
Letters of Credit to be issued thereafter.&nbsp; After the replacement or
termination of an Issuing Bank hereunder, the replaced or terminated Issuing
Bank shall remain a party hereto and shall continue to have all the rights and
obligations of an Issuing Bank under this Agreement with respect to Letters of
Credit issued by it prior to such replacement or termination, but shall not be
required to issue additional Letters of Credit.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(j)&nbsp; <u>Cash Collateralization.</u>&nbsp; If any Event
of Default shall occur and be continuing, on the Business Day that the Borrower
receives notice from the Paying Agent or the Required Lenders (or, if the
maturity of the Loans has been accelerated, Lenders with LC Exposure
representing greater than 50% of the total LC Exposure) demanding the deposit
of cash collateral pursuant to this paragraph, the Borrower shall deposit in an
account with the Paying Agent, in the name of the Paying Agent and for the
benefit of the Lenders, an amount in cash equal to the LC Exposure as of such
date plus any accrued and unpaid interest thereon; <u>provided</u> that the
obligation to deposit such cash collateral shall become effective immediately,
and such deposit shall become immediately due and payable, without demand or
other notice of any kind, upon the occurrence of any Event of Default with
respect to either Loan Party described in clause&nbsp;(h) or (i) of Article&nbsp;VII.&nbsp;
The Borrower shall also deposit cash collateral in accordance with this
paragraph as and to the extent required by Section 2.11(b) or Section 2.23.&nbsp;
Each such deposit shall be held by the Paying Agent as collateral for the
payment and performance of the obligations of the Borrower under this
Agreement.&nbsp; The Paying Agent shall have exclusive dominion and control,
including the exclusive right of withdrawal, over such account.&nbsp; Other than any
interest earned on the investment of such deposits, which investments shall be
made at the option and sole discretion of the Paying Agent and at the
Borrower&#146;s risk and expense, such deposits shall not bear interest.&nbsp; Interest
or profits, if any, on such investments shall accumulate in such account.&nbsp;
Moneys in such account shall be applied by the Paying Agent to reimburse any
Issuing Bank for LC Disbursements for which it has not been reimbursed and, to
the extent not so applied, shall be held for the satisfaction of the
reimbursement obligations of the Borrower for the LC Exposure at such time or,
if the maturity of the Loans has been accelerated (but subject to the consent
of Lenders with LC Exposure representing greater than 50% of the total LC
Exposure), be applied to satisfy other obligations of the Borrower under this Agreement.&nbsp;
If the Borrower is required to provide an amount of cash collateral hereunder
as a result of the occurrence of an Event of Default, such amount (to the
extent not applied as aforesaid) shall be returned to the Borrower within three
Business Days after all Events of Default have been cured or waived.&nbsp; If the
Borrower is required to provide an amount of cash collateral hereunder pursuant
to Section 2.11(b), such amount (to the extent not applied as aforesaid) shall
be returned to the Borrower as and to the extent that, after giving effect to
such return, the Borrower would remain in compliance with Section 2.11(b) and
no Default shall have occurred and be continuing.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(k)&nbsp; <u>Additional Issuing Banks.</u>&nbsp; Any Lender
may at any time become an Issuing Bank hereunder by written agreement between
the Borrower and such Lender subject to notice to the Paying Agent.&nbsp; From and
after the effective date of any such Lender becoming an Issuing Bank, such
Lender shall have the rights and obligations of an Issuing Bank under this
Agreement.&nbsp; Any Lender that becomes an Issuing Bank shall not cease to be an
Issuing Bank hereunder if it later ceases to be a Lender hereunder.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(l)&nbsp; <u>Certain Notices by Issuing Banks.</u>&nbsp; Each
Issuing Bank that is not the same Person as the Person serving as the Paying
Agent shall notify the Paying Agent of (i)&nbsp;the currency, amount (including
the Dollar Amount thereof in the case of Alternate Currency Letters of Credit)
and expiration date of each Letter of Credit issued by such Issuing Bank at or
prior to the time of issuance thereof (or in the case of an Existing Letter of
Credit, such notice shall be provided on the Effective Date), (ii)&nbsp;any
amendment or modification to, or LC Disbursement under, any such Letter of
Credit at or prior to the time of such amendment, modification or LC
Disbursement and (iii)&nbsp;any termination, surrender, cancellation or expiry
of any such Letter of Credit at or prior to the time of such termination,
surrender, cancellation or expiration.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(m) <u>Alternate Currency Letters of Credit.</u>&nbsp; Subject to the terms and
conditions set forth herein, the other conditions applicable to the issuance of
Letters of Credit hereunder and the approval of the applicable Issuing Bank,
the Borrower may request the issuance of Alternate Currency Letters of Credit.&nbsp;
Upon the issuance of any Alternate Currency Letter of Credit, and so long as
any Alternate Currency Letter of Credit remains outstanding, the following
provisions shall apply:</h3>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;text-indent:.8in'>(i)&nbsp; For purposes of determining the total LC
Exposure at any time and for purposes of calculating fees payable under
Sections&nbsp;2.12(b) and (c), the amount of any Alternate Currency Letter of
Credit and of any LC Disbursements in respect thereof shall be deemed to be, as
of any date of determination, the Dollar Amount thereof at such date.&nbsp; The
initial Dollar Amount of any Alternate Currency Letter of Credit shall be
determined by the applicable Issuing Bank on the date of issuance thereof and
adjusted from time to time thereafter, in each case, as provided below.&nbsp; The
Dollar Amount of each Alternate Currency Letter of Credit outstanding shall be
adjusted by the applicable Issuing Bank on each Calculation Date as provided in
Section&nbsp;2.21(a).&nbsp; If an LC Disbursement is made by the Issuing Bank under
any Alternate Currency Letter of Credit, the Dollar Amount of such LC
Disbursement shall be determined by such Issuing Bank on the date that such LC
Disbursement is made.&nbsp; The applicable Issuing Bank shall make each such
determination to be made by it by calculating the amount in dollars that would
be required in order for such Issuing Bank to purchase an amount of the
applicable Alternate Currency equal to the amount of the relevant Alternate
Currency Letter of Credit or unpaid LC Disbursement, as the case may be, on the
date of determination at the Spot Exchange Rate with respect to such Alternate
Currency on such date of determination.&nbsp; Each applicable Issuing Bank shall
notify the Paying Agent and the Borrower promptly of each such Dollar Amount
determined by it, on the date that such determination is required to be made.</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;text-indent:.8in'>(ii) Subject to paragraph (iv) below, the
obligation of the Borrower to reimburse the applicable Issuing Bank for any LC
Disbursement under any Alternate Currency Letter of Credit, and to pay interest
thereon, shall be payable only in the Alternate Currency in which such LC
Disbursement is made, and shall not be discharged by paying an amount in
dollars or any other currency; <u>provided</u> that the applicable Issuing Bank
may agree, in its sole discretion, to accept reimbursement in another currency,
but any such agreement shall not affect the obligations of the Lenders or the
Borrower under paragraphs (iii) and (iv) below if such reimbursement is not
actually made to the applicable Issuing Bank when due.</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;text-indent:.8in'>(iii) The obligation of each Lender under
paragraphs (d) and (e) of this Section to pay its Applicable Percentage of any
unpaid LC Disbursement under any Alternate Currency Letter of Credit shall be
payable only in dollars and shall be in an amount equal to such Applicable Percentage
of the Dollar Amount of such unpaid drawing determined as provided in paragraph
(i) above.&nbsp; Under no circumstances shall the provisions hereof permitting the
issuance of Letters of Credit in an Alternate Currency be construed, by
implication or otherwise, as imposing any obligation upon any Lender to make
any Loan or other payment under the Loan Documents, or to accept any payment
from the Borrower in respect of any unreimbursed LC Disbursement, in any
currency other than dollars, it being understood that the parties intend all
payments of Indebtedness created under the Loan Documents to be denominated and
payable only in dollars except as expressly provided in paragraph&nbsp;(ii)
above and in Section&nbsp;2.18(a).</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;text-indent:.8in'>(iv) If and to the extent that any Lender pays its
Applicable Percentage of any unreimbursed LC Disbursement under any Alternate
Currency Letter of Credit, then, notwithstanding clause (ii) above, the
obligation of the Borrower to reimburse the portion of such unreimbursed LC
Disbursement funded by such Lender shall be converted to, and shall be payable
only in, dollars (in an amount equal to the dollar amount funded by such Lender
as provided above) and shall not be discharged by paying an amount in any other
currency.&nbsp; Interest accrued on such unreimbursed LC Disbursement to and
excluding the date of such payment by such Lender shall be for the account of
the applicable Issuing Bank and be payable in the applicable Alternate
Currency, but interest thereafter shall accrue on the dollar amount owed to such
Lender and shall be payable in dollars.</h4>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744179">SECTION 2.07.&nbsp; <u>Funding
of Borrowings.</u>&nbsp; </a>(a)&nbsp; Each Lender shall make each Loan to be made by it
hereunder on the proposed date thereof by wire transfer of immediately
available funds by 12:00&nbsp;noon, New&nbsp;York City time, to the account of
the Paying Agent most recently designated by it for such purpose by notice to
the Lenders; <u>provided</u> that Swingline Loans shall be made as provided in
Section&nbsp;2.05.&nbsp; The Paying Agent will make such Loans available to the
Borrower by promptly crediting the amounts so received, in like funds, to an
account of the Borrower maintained with the Paying Agent in New&nbsp;York City
and designated by the Borrower in the applicable Borrowing Request or
Competitive Bid Request; <u>provided</u> that ABR Revolving Loans made to
finance the reimbursement of an LC Disbursement as provided in
Section&nbsp;2.06(e) shall be remitted by the Paying Agent to the applicable
Issuing Bank.</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; Unless the Paying Agent shall have received
notice from a Lender prior to the proposed date of any Borrowing that such
Lender will not make available to the Paying Agent such Lender&#146;s share of such
Borrowing, the Paying Agent may assume that such Lender has made such share
available on such date in accordance with paragraph&nbsp;(a) of this Section and
may, in reliance upon such assumption, make available to the Borrower a
corresponding amount.&nbsp; In such event, if a Lender has not in fact made its
share of the applicable Borrowing available to the Paying Agent, then the
applicable Lender and the Borrower severally agree to pay to the Paying Agent
forthwith on demand such corresponding amount with interest thereon, for each
day from and including the date such amount is made available to the Borrower
to but excluding the date of payment to the Paying Agent, at (i)&nbsp;in the
case of such Lender, the greater of the Federal Funds Effective Rate and a rate
determined by the Paying Agent in accordance with banking industry rules on
interbank compensation or (ii)&nbsp;in the case of the Borrower, the interest
rate applicable to ABR Loans.&nbsp; If such Lender pays such amount to the Paying
Agent, then such amount shall constitute such Lender&#146;s Loan included in such
Borrowing.</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744180">SECTION 2.08.&nbsp; <u>Interest
Elections.</u>&nbsp; </a>(a)&nbsp; Each Revolving Borrowing initially shall be of the
Type specified in the applicable Borrowing Request and, in the case of a
Eurodollar Revolving Borrowing, shall have an initial Interest Period as
specified in such Borrowing Request.&nbsp; Thereafter, the Borrower may elect to
convert such Borrowing to a different Type or to continue such Borrowing and,
in the case of a Eurodollar Revolving Borrowing, may elect Interest Periods
therefor, all as provided in this Section.&nbsp; The Borrower may elect different
options with respect to different portions of the affected Borrowing, in which
case each such portion shall be allocated ratably among the Lenders holding the
Loans comprising such Borrowing, and the Loans comprising each such portion
shall be considered a separate Borrowing.&nbsp; This Section shall not apply to
Competitive Borrowings or Swingline Borrowings, which may not be converted or
continued.</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; To make an election pursuant to this Section,
the Borrower shall notify the Paying Agent of such election by telephone by the
time that a Borrowing Request would be required under Section&nbsp;2.03 if the
Borrower were requesting a Revolving Borrowing of the Type resulting from such
election to be made on the effective date of such election.&nbsp; Each such
telephonic Interest Election Request shall be irrevocable and shall be
confirmed promptly by hand delivery or telecopy to the Paying Agent of a
written Interest Election Request in a form approved by the Paying Agent and
signed by the Borrower.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in;page-break-after:avoid'>(c)&nbsp; Each telephonic and
written Interest Election Request shall specify the following information in
compliance with Section&nbsp;2.02:</h3>

<h5 style='mso-style-name:"Heading 5\,h5\,H5";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(i) the Borrowing to which such Interest Election Request applies and, if
different options are being elected with respect to different portions thereof,
the portions thereof to be allocated to each resulting Borrowing (in which case
the information to be specified pursuant to clauses&nbsp;(iii) and (iv) below
shall be specified for each resulting Borrowing);</h5>

<h5 style='mso-style-name:"Heading 5\,h5\,H5";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(ii) the effective date of the election made pursuant to such Interest
Election Request, which shall be a Business Day;</h5>

<h5 style='mso-style-name:"Heading 5\,h5\,H5";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(iii) whether the resulting Borrowing is to be an ABR Borrowing or a
Eurodollar Borrowing; and</h5>

<h5 style='mso-style-name:"Heading 5\,h5\,H5";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(iv) if the resulting Borrowing is a Eurodollar Borrowing, the Interest
Period to be applicable thereto after giving effect to such election, which
shall be a period contemplated by the definition of the term &#147;Interest Period&#148;.</h5>

<p style='mso-style-name:"Body Text No Indent";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>If any such Interest Election Request requests a
Eurodollar Borrowing but does not specify an Interest Period, then the Borrower
shall be deemed to have selected an Interest Period of one month&#146;s duration.</p>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(d)&nbsp; Promptly following receipt of an Interest
Election Request, the Paying Agent shall advise each Lender of the details
thereof and of such Lender&#146;s portion of each resulting Borrowing.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(e)&nbsp; If the Borrower fails to deliver a timely
Interest Election Request with respect to a Eurodollar Revolving Borrowing
prior to the end of the Interest Period applicable thereto, then, unless such
Borrowing is repaid as provided herein, at the end of such Interest Period such
Borrowing shall be converted to an ABR Borrowing.&nbsp; Notwithstanding any contrary
provision hereof, if an Event of Default has occurred and is continuing and the
Paying Agent, at the request of the Required Lenders, so notifies the Borrower,
then, so long as an Event of Default is continuing (i)&nbsp;no outstanding
Revolving Borrowing may be converted to or continued as a Eurodollar Borrowing
and (ii)&nbsp;unless repaid, each Eurodollar Revolving Borrowing shall be
converted to an ABR Borrowing at the end of the Interest Period applicable
thereto.</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744181">SECTION 2.09.&nbsp; <u>Termination
and Reduction of Commitments.</u>&nbsp; <br>
</a>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a)&nbsp; Unless previously terminated, the Commitments shall terminate on the
Maturity Date.</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; The Borrower may at any time terminate, or
from time to time reduce, the Commitments; <u>provided</u> that (i)&nbsp;each
reduction of the Commitments shall be in an amount that is an integral multiple
of $10,000,000 and not less than $25,000,000 and (ii)&nbsp;the Borrower shall
not terminate or reduce the Commitments if, after giving effect to any
concurrent prepayment of the Loans in accordance with Section&nbsp;2.11, the
sum of the Revolving Credit Exposures plus the aggregate principal amount of
outstanding Competitive Loans would exceed the Total Commitments.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(c)&nbsp; The Borrower shall notify the Paying Agent of
any election to terminate or reduce the Commitments under paragraph&nbsp;(b) of
this Section at least three Business Days prior to the effective date of such
termination or reduction, specifying such election and the effective date
thereof.&nbsp; Promptly following receipt of any notice, the Paying Agent shall
advise the Lenders of the contents thereof.&nbsp; Each notice delivered by the
Borrower pursuant to this Section shall be irrevocable; <u>provided</u> that a
notice of termination of the Commitments delivered by the Borrower may state
that such notice is conditioned upon the effectiveness of other credit
facilities, in which case such notice may be revoked by the Borrower (by notice
to the Paying Agent on or prior to the specified effective date) if such
condition is not satisfied.&nbsp; Any termination or reduction of the Commitments
shall be permanent.&nbsp; Each reduction of the Commitments shall be made ratably
among the Lenders in accordance with their respective Commitments.</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744182">SECTION 2.10.&nbsp; <u>Repayment&nbsp;of
Loans; Evidence of Debt.</u>&nbsp; </a>(a)&nbsp; The Borrower hereby unconditionally
promises to pay (i)&nbsp;to the Paying Agent for the account of each Lender the
then unpaid principal amount of each Revolving Loan on the Maturity Date,
(ii)&nbsp;to the Paying Agent for the account of each Lender the then unpaid
principal amount of each Competitive Loan on the last day of the Interest
Period applicable to such Loan and (iii)&nbsp;to the applicable Swingline
Lender the then unpaid principal amount of each Swingline Loan on the earlier
of the Maturity Date and the first date after such Swingline Loan is made that
is the 15th or last day of a calendar month and is at least four Business Days
after such Swingline Loan is made; <u>provided</u> that on each date that a
Revolving Borrowing or Competitive Borrowing is made, the Borrower shall repay
all Swingline Loans then outstanding.</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; Each Lender shall maintain in accordance with
its usual practice an account or accounts evidencing the indebtedness of the
Borrower to such Lender resulting from each Loan made by such Lender, including
the amounts of principal and interest payable and paid to such Lender from time
to time hereunder.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(c)&nbsp; The Paying Agent shall maintain accounts in
which it shall record (i)&nbsp;the amount of each Loan made hereunder, the
Class and Type thereof and the Interest Period applicable thereto,
(ii)&nbsp;the amount of any principal or interest due and payable or to become
due and payable from the Borrower to each Lender hereunder and (iii)&nbsp;the
amount of any sum received by the Paying Agent hereunder for the account of the
Lenders and each Lender&#146;s share thereof.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(d)&nbsp; The entries made in the accounts maintained
pursuant to paragraph&nbsp;(b) or (c) of this Section shall be <u>prima</u> <u>facie</u>
evidence of the existence and amounts of the obligations recorded therein; <u>provided</u>
that the failure of any Lender or the Paying Agent to maintain such accounts or
any error therein shall not in any manner affect the obligation of the Borrower
to repay the Loans in accordance with the terms of this Agreement.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(e)&nbsp; Any Lender may request that Loans made by it
be evidenced by a promissory note.&nbsp; In such event, the Borrower shall prepare,
execute and deliver to such Lender a promissory note payable to the order of
such Lender (or, if requested by such Lender, to such Lender and its registered
assigns) and in a form approved by the Paying Agent.&nbsp; Thereafter, the Loans
evidenced by such promissory note and interest thereon shall at all times
(including after assignment pursuant to Section&nbsp;9.04) be represented by
one or more promissory notes in such form payable to the order of the payee
named therein (or, if such promissory note is a registered note, to such payee
and its registered assigns).</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744183">SECTION 2.11.&nbsp; <u>Prepayment
of Loans.</u>&nbsp; </a>(a)&nbsp; The Borrower shall have the right at any time and from
time to time to prepay any Borrowing in whole or in part, subject to prior
notice in accordance with paragraph&nbsp;(c) of this Section; <u>provided</u>
that the Borrower shall not have the right to prepay any Competitive Loan
without the prior consent of the Lender thereof.</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; In the event that, on any Reset Date, the sum
of the total Revolving Credit Exposures and the aggregate principal amount of
outstanding Competitive Loans exceeds 105% of the Total Commitments, then,
within three Business Days after notice thereof to the Borrower from the Paying
Agent, the Borrower shall prepay Revolving Borrowings (or, if no such
Borrowings are outstanding, deposit cash collateral in an account with the
Paying Agent pursuant to Section 2.06(j)) such that, after giving effect
thereto, the sum of the total Revolving Credit Exposures plus the aggregate
principal amount of outstanding Competitive Loans does not exceed the Total
Commitments.&nbsp; Solely for purposes of determining compliance with this
paragraph, the total Revolving Credit Exposure shall be deemed reduced by the
amount of cash collateral deposited with and held by the Paying Agent pursuant
to Section 2.06(j).</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(c)&nbsp; The Borrower shall notify the Paying Agent
(and, in the case of prepayment of a Swingline Loan, the applicable Swingline
Lender) by telephone (confirmed by telecopy) of any prepayment hereunder
(i)&nbsp;in the case of prepayment of a Eurodollar Revolving Borrowing, not
later than 11:00&nbsp;a.m., New&nbsp;York City time, three Business Days before
the date of prepayment, (ii)&nbsp;in the case of prepayment of an ABR Revolving
Borrowing, not later than 11:00&nbsp;a.m., New&nbsp;York City time, one Business
Day before the date of prepayment or (iii)&nbsp;in the case of prepayment of a
Swingline Loan, not later than 12:00&nbsp;noon, New&nbsp;York City time, on the
date of prepayment.&nbsp; Each such notice shall be irrevocable and shall specify
the prepayment date and the principal amount of each Borrowing or portion
thereof to be prepaid; <u>provided</u> that, if a notice of prepayment is given
in connection with a conditional notice of termination of the Commitments as
contemplated by Section&nbsp;2.09, then such notice of prepayment may be
revoked if such notice of termination is revoked in accordance with
Section&nbsp;2.09.&nbsp; Promptly following receipt of any such notice relating to a
Revolving Borrowing, the Paying Agent shall advise the Lenders of the contents
thereof.&nbsp; Each partial prepayment of any Revolving Borrowing shall be in an
amount that would be permitted in the case of an advance of a Revolving
Borrowing of the same Type as provided in Section&nbsp;2.02.&nbsp; Each prepayment
of a Revolving Borrowing shall be applied ratably to the Loans included in the
prepaid Borrowing.&nbsp; Prepayments shall be accompanied by accrued interest to the
extent required by Section&nbsp;2.13.</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744184">SECTION 2.12.&nbsp; <u>Fees.</u>&nbsp;
</a>(a)&nbsp; The Borrower agrees to pay to the Paying Agent for the account of each
Lender a facility fee, which shall accrue at the Applicable Rate on the greater
of (i) the amount of the Commitment of such Lender during the period from and
including the Effective Date to but excluding the date on which such Commitment
terminates and (ii) the amount of such Lender&#146;s Revolving Credit Exposure.&nbsp;
Accrued facility fees shall be payable in arrears on the last day of March,
June, September and December of each year and on the date on which the
Commitments terminate, commencing on the first such date to occur after the
date hereof.&nbsp; All facility fees shall be computed on the basis of a year of
360&nbsp;days and shall be payable for the actual number of days elapsed
(including the first day but excluding the last day).</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; The Borrower agrees to pay (i)&nbsp;to the
Paying Agent for the account of each Lender a participation fee with respect to
its participations in Letters of Credit, which shall accrue at the same
Applicable Rate used to determine the interest rate applicable to Eurodollar
Revolving Loans (or in the case of a Trade Letter of Credit, 50% of such
Applicable Rate) on the average daily amount of such Lender&#146;s LC Exposure
(excluding any portion thereof attributable to unreimbursed LC Disbursements)
during the period from and including the Effective Date to but excluding the
later of the date on which such Lender&#146;s Commitment terminates and the date on
which such Lender ceases to have any LC Exposure, and (ii)&nbsp;to each Issuing
Bank a fronting fee separately agreed upon between the Borrower and such
Issuing Bank.&nbsp; Participation fees accrued through and including the last day of
March, June, September and December of each year shall be payable on the fifth
Business Day following such last day, commencing on the first such date to
occur after the Effective Date; <u>provided</u> that all such fees shall be
payable on the date on which the Commitments terminate and any such fees
accruing after the date on which the Commitments terminate shall be payable on
demand.&nbsp; Any other fees payable to an Issuing Bank pursuant to this paragraph
shall be payable within 10&nbsp;days after demand.&nbsp; All participation fees
shall be computed on the basis of a year of 360&nbsp;days and shall be payable
for the actual number of days elapsed (including the first day but excluding
the last day).</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(c)&nbsp; The Borrower agrees to pay to the Paying
Agent, for its own account or for the account of the Lenders, as applicable,
fees payable in the amounts and at the times separately agreed upon between the
Borrower and the Paying Agent.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(d)&nbsp; All fees payable hereunder shall be paid on
the dates due, in immediately available funds, to the Paying Agent (or to the
applicable Issuing Bank, in the case of fees payable to it) for distribution,
in the case of facility fees, participation fees and other fees separately
agreed upon to be payable to the Lenders, to the Lenders.&nbsp; Fees paid shall not
be refundable under any circumstances, except to the extent that the Borrower
demonstrates that any amounts paid represent overpayments.</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744185">SECTION 2.13.&nbsp; <u>Interest.</u>&nbsp;
</a>(a)&nbsp; The Loans comprising each ABR&nbsp;Borrowing (including each Swingline
Loan) shall bear interest at the Alternate Base Rate plus the Applicable Rate.</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; The Loans comprising each Eurodollar Borrowing
shall bear interest (i)&nbsp;in the case of a Eurodollar Revolving Loan, at the
Adjusted LIBO Rate for the Interest Period in effect for such Borrowing plus
the Applicable Rate, or (ii)&nbsp;in the case of a Eurodollar Competitive Loan,
at the LIBO Rate for the Interest Period in effect for such Borrowing plus (or
minus, as applicable) the Margin applicable to such Loan.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(c)&nbsp; Each Fixed Rate Loan shall bear interest at
the Fixed Rate applicable to such Loan.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(d)&nbsp; Notwithstanding the foregoing, if any
principal of or interest on any Loan or any fee or other amount payable by the
Borrower hereunder is not paid when due, whether at stated maturity, upon
acceleration or otherwise, such overdue amount shall bear interest, after as
well as before judgment, at a rate per annum equal to (i)&nbsp;in the case of
overdue principal of any Loan, 2.0% plus the rate otherwise applicable to such
Loan as provided in the preceding paragraphs of this Section or (ii)&nbsp;in
the case of any other amount, 2.0% plus the rate applicable to ABR Loans as
provided in paragraph&nbsp;(a) of this Section.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(e)&nbsp; Accrued interest on each Loan shall be payable
in arrears on each Interest Payment Date for such Loan and, in the case of
Revolving Loans, upon termination of the Commitments; <u>provided</u> that
(i)&nbsp;interest accrued pursuant to paragraph&nbsp;(d) of this Section shall
be payable on demand, (ii)&nbsp;in the event of any repayment or prepayment of
any Loan (other than a prepayment of an ABR Revolving Loan prior to the end of
the Availability Period), accrued interest on the principal amount repaid or
prepaid shall be payable on the date of such repayment or prepayment and
(iii)&nbsp;in the event of any conversion of any Eurodollar Revolving Loan
prior to the end of the current Interest Period therefor, accrued interest on
such Loan shall be payable on the effective date of such conversion.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(f)&nbsp; All interest hereunder shall be computed on
the basis of a year of 360&nbsp;days, except that interest computed by
reference to the Alternate Base Rate at times when the Alternate Base Rate is
based on the Prime Rate shall be computed on the basis of a year of
365&nbsp;days (or 366&nbsp;days in a leap year), and in each case shall be
payable for the actual number of days elapsed (including the first day but
excluding the last day).&nbsp; The applicable Alternate Base Rate, Adjusted LIBO
Rate or LIBO Rate shall be determined by the Paying Agent, and such
determination shall be conclusive absent manifest error.</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in;page-break-after:avoid'><a name="_Toc295744186">SECTION
2.14.&nbsp; <u>Alternate Rate of Interest.</u>&nbsp; If prior to the commencement of any
Interest Period for a Eurodollar Borrowing:</a></h2>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(a)&nbsp; the Paying Agent determines (which determination shall be conclusive
absent manifest error) that adequate and reasonable means do not exist for
ascertaining the Adjusted LIBO Rate or the LIBO Rate, as applicable, for such
Interest Period; or</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(b)&nbsp; the Paying Agent is advised by the Required Lenders (or, in the case
of a Eurodollar Competitive Loan, the Lender that is required to make such
Loan) that the Adjusted LIBO Rate or the LIBO Rate, as applicable, for such
Interest Period will not adequately and fairly reflect the cost to such Lenders
(or Lender) of making or maintaining their Loans (or its Loan) included in such
Borrowing for such Interest Period;</h4>

<p style='mso-style-name:"Body Text No Indent";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>then the Paying Agent shall give notice thereof to
the Borrower and the Lenders by telephone or telecopy as promptly as
practicable thereafter and, until the Paying Agent notifies the Borrower and
the Lenders that the circumstances giving rise to such notice no longer exist,
(i)&nbsp;any Interest Election Request that requests the conversion of any
Revolving Borrowing to, or continuation of any Revolving Borrowing as, a
Eurodollar Borrowing shall be ineffective, (ii)&nbsp;if any Borrowing Request
requests a Eurodollar Revolving Borrowing, such Borrowing shall be made as an
ABR Borrowing and (iii)&nbsp;any request by the Borrower for a Eurodollar
Competitive Borrowing shall be ineffective; <u>provided</u> that (A)&nbsp;if
the circumstances giving rise to such notice do not affect all the Lenders,
then requests by the Borrower for Eurodollar Competitive Borrowings may be made
to Lenders that are not affected thereby and (B)&nbsp;if the circumstances
giving rise to such notice affect only one Type of Borrowings, then the other
Type of Borrowings shall be permitted.</p>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in;page-break-after:avoid'><a name="_Toc295744187">SECTION
2.15.&nbsp; <u>Increased Costs.</u>&nbsp; </a>(a)&nbsp; If any Change in Law shall:</h2>

<h5 style='mso-style-name:"Heading 5\,h5\,H5";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(i) impose, modify or deem applicable any reserve, special deposit or
similar requirement against assets of, deposits with or for the account of, or
credit extended by, any Lender (except any such reserve requirement reflected
in the Adjusted LIBO Rate) or any Issuing Bank;</h5>

<h5 style='mso-style-name:"Heading 5\,h5\,H5";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(ii) impose on any Lender or Issuing Bank or the London interbank market
any other condition affecting this Agreement or Eurodollar Loans or Fixed Rate
Loans made by such Lender or any Letter of Credit or participation therein; or</h5>

<h5 style='mso-style-name:"Heading 5\,h5\,H5";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(iii) subject any Recipient to any Taxes on its loans, loan principal,
letters of credit, commitments, or other obligations, or its deposits,
reserves, other liabilities or capital attributable thereto (other than (A)
Indemnified Taxes, (B) Excluded Taxes and (B) Other Connection Taxes on gross
or net income, profits or revenue (including value-added or similar Taxes));</h5>

<p style='mso-style-name:"Body Text No Indent";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>and the result of any of the foregoing shall be to
increase the cost to such Lender or such other Recipient of making or
maintaining any Eurodollar Loan or Fixed Rate Loan (or of maintaining its
obligation to make any such Loan) or to increase the cost to such Lender, an
Issuing Bank or such other Recipient of participating in, issuing or
maintaining any Letter of Credit or to reduce the amount of any sum received or
receivable by such Lender, Issuing Bank or such other Recipient hereunder
(whether of principal, interest or otherwise), then the Borrower will pay to such
Lender, Issuing Bank or such other Recipient, as the case may be, such
additional amount or amounts as will compensate such Lender, Issuing Bank or
such other Recipient, as the case may be, for such additional costs incurred or
reduction suffered.</p>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; If any Lender or Issuing Bank determines that
any Change in Law regarding capital requirements has or would have the effect
of reducing the rate of return on such Lender&#146;s or Issuing Bank&#146;s capital or on
the capital of such Lender&#146;s or Issuing Bank&#146;s holding company, if any, as a
consequence of this Agreement or the Loans made by, or participations in
Letters of Credit held by, such Lender, or the Letters of Credit issued by such
Issuing Bank, to a level below that which such Lender or Issuing Bank or such
Lender&#146;s or Issuing Bank&#146;s holding company could have achieved but for such
Change in Law (taking into consideration such Lender&#146;s or Issuing Bank&#146;s
policies and the policies of such Lender&#146;s or Issuing Bank&#146;s holding company
with respect to capital adequacy), then from time to time the Borrower will pay
to such Lender or Issuing Bank, as the case may be, such additional amount or
amounts as will compensate such Lender or Issuing Bank or such Lender&#146;s or
Issuing Bank&#146;s holding company for any such reduction suffered.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(c)&nbsp; A certificate of a Lender or an Issuing Bank
setting forth the amount or amounts necessary to compensate such Lender or
Issuing Bank or its holding company, as the case may be, as specified in
paragraph&nbsp;(a) or (b) of this Section shall be delivered to the Borrower
and shall be conclusive absent manifest error.&nbsp; The Borrower shall pay such
Lender or Issuing Bank, as the case may be, the amount shown as due on any such
certificate within 10&nbsp;days after receipt thereof.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(d)&nbsp; Failure or delay on the part of any Lender or
Issuing Bank to demand compensation pursuant to this Section shall not
constitute a waiver of such Lender&#146;s or Issuing Bank&#146;s right to demand such
compensation; <u>provided</u> that the Borrower shall not be required to
compensate a Lender or an Issuing Bank pursuant to this Section for any
increased costs or reductions incurred more than 270&nbsp;days prior to the
date that such Lender or Issuing Bank, as the case may be, notifies the
Borrower of the Change in Law giving rise to such increased costs or reductions
and of such Lender&#146;s or Issuing Bank&#146;s intention to claim compensation
therefor; <u>provided</u> <u>further</u> that, if the Change in Law giving rise
to such increased costs or reductions is retroactive, then the 270&#8209;day
period referred to above shall be extended to include the period of retroactive
effect thereof.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(e)&nbsp; Notwithstanding the foregoing provisions of
this Section, a Lender shall not be entitled to compensation pursuant to this
Section in respect of any Competitive Loan if the Change in Law that would
otherwise entitle it to such compensation shall have been publicly announced
prior to submission of the Competitive Bid pursuant to which such Loan was
made.</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744188">SECTION 2.16.&nbsp; <u>Break
Funding Payments.</u>&nbsp; In the event of (a)&nbsp;the payment of any principal of
any Eurodollar Loan or Fixed Rate Loan other than on the last day of an
Interest Period applicable thereto (including as a result of an Event of
Default), (b)&nbsp;the conversion of any Eurodollar Loan other than on the last
day of the Interest Period applicable thereto, (c)&nbsp;the failure to borrow,
convert, continue or prepay any Eurodollar Loan or Fixed Rate Loan on the date
specified in any notice delivered pursuant hereto (regardless of whether such
notice may be revoked under Section&nbsp;2.11(b) and is revoked in accordance
therewith), (d)&nbsp;the failure to borrow any Competitive Loan after accepting
the Competitive Bid to make such Loan, or (e)&nbsp;the assignment of any
Eurodollar Loan or Fixed Rate Loan other than on the last day of the Interest
Period applicable thereto as a result of a request by the Borrower pursuant to
Section&nbsp;2.19, then, in any such event, the Borrower shall compensate each
Lender for the loss, cost and expense attributable to such event.&nbsp; In the case
of a Eurodollar Loan, such loss, cost or expense to any Lender shall be deemed
to include an amount determined by such Lender to be the excess, if any, of
(i)&nbsp;the amount of interest which would have accrued on the principal
amount of such Loan had such event not occurred, at the Adjusted LIBO Rate that
would have been applicable to such Loan, for the period from the date of such
event to the last day of the then current Interest Period therefor (or, in the
case of a failure to borrow, convert or continue, for the period that would
have been the Interest Period for such Loan), over (ii)&nbsp;the amount of
interest which would accrue on such principal amount for such period at the
interest rate which such Lender would bid were it to bid, at the commencement
of such period, for dollar deposits of a comparable amount and period from
other banks in the eurodollar market.&nbsp; A certificate of any Lender setting
forth any amount or amounts that such Lender is entitled to receive pursuant to
this Section shall be delivered to the Borrower and shall be conclusive absent
manifest error.&nbsp; The Borrower shall pay such Lender the amount shown as due on
any such certificate within 30&nbsp;days after receipt thereof.</a></h2>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744189">SECTION 2.17.&nbsp; <u>Withholding
of Taxes; Gross-Up.</u>&nbsp; </a>(a)&nbsp; Each payment by the Borrower under this
Agreement shall be made without withholding for any Taxes, unless such
withholding is required by any law.&nbsp; If any Withholding Agent determines, in
its sole discretion exercised in good faith, that it is so required to withhold
Taxes, then such Withholding Agent may so withhold and shall timely pay the
full amount of withheld Taxes to the relevant Governmental Authority in
accordance with applicable law.&nbsp; If such Taxes are Indemnified Taxes, then the
amount payable by the Borrower shall be increased as necessary so that, net of
such withholding (including such withholding applicable to additional amounts
payable under this Section), the applicable Recipient receives the amount it
would have received had no such withholding been made.</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; <u>Payment of Other Taxes by the Borrower.</u>&nbsp;
The Borrower shall timely pay any Other Taxes to the relevant Governmental
Authority in accordance with applicable law.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(c)&nbsp; &nbsp;<u>Evidence of Payments.</u>&nbsp; As soon as
practicable after any payment of Indemnified Taxes by the Borrower to a
Governmental Authority, the Borrower shall deliver to the Administrative Agent
the original or a certified copy of a receipt issued by such Governmental
Authority evidencing such payment, a copy of the return reporting such payment
or other evidence of such payment reasonably satisfactory to the Administrative
Agent.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(d)&nbsp; <u>Indemnification by the Borrower.</u>&nbsp; The
Borrower shall indemnify each Recipient for any Indemnified Taxes that are paid
or payable by such Recipient in connection with this Agreement (including
amounts paid or payable under this Section&nbsp;2.17(d)) and any reasonable
expenses arising therefrom or with respect thereto, whether or not such
Indemnified Taxes were correctly or legally imposed or asserted by the relevant
Governmental Authority.&nbsp; The indemnity under this Section&nbsp;2.17(d) shall be
paid within 10 days after the Recipient delivers to the Borrower a certificate
stating the amount of any Indemnified Taxes so paid or payable by such
Recipient and describing the basis for the indemnification claim.&nbsp; Such
certificate shall be conclusive of the amount so paid or payable absent
manifest error.&nbsp; Such Recipient shall deliver a copy of such certificate to the
Administrative Agent.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(e)&nbsp; <u>Indemnification by the Lenders.</u>&nbsp; Each
Lender shall severally indemnify the Administrative Agent for any Taxes (but,
in the case of any Indemnified Taxes, only to the extent that the Borrower has
not already indemnified the Administrative Agent for such Indemnified Taxes and
without limiting the obligation of the Borrower to do so) attributable to such
Lender that are paid or payable by the Administrative Agent in connection with
this Agreement and any reasonable expenses arising therefrom or with respect
thereto, whether or not such Taxes were correctly or legally imposed or
asserted by the relevant Governmental Authority.&nbsp; The indemnity under this
Section&nbsp;2.17(e) shall be paid within 10 days after the Administrative
Agent delivers to the applicable Lender a certificate stating the amount of
Taxes so paid or payable by the Administrative Agent.&nbsp; Such certificate shall
be conclusive of the amount so paid or payable absent manifest error.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(f)&nbsp; <u>Status of Lenders.</u>&nbsp; (i)&nbsp; Any Lender
that is entitled to an exemption from, or reduction of, any applicable
withholding Tax with respect to any payments under this Agreement shall deliver
to the Borrower and the Administrative Agent, at the time or times reasonably
requested by the Borrower or the Administrative Agent, such properly completed
and executed documentation reasonably requested by the Borrower or the
Administrative Agent as will permit such payments to be made without, or at a
reduced rate of, withholding.&nbsp; In addition, any Lender, if requested by the
Borrower or the Administrative Agent, shall deliver such other documentation
prescribed by law or reasonably requested by the Borrower or the Administrative
Agent as will enable the Borrower or the Administrative Agent to determine
whether or not such Lender is subject to any withholding (including backup
withholding) or information reporting requirements.&nbsp; Notwithstanding anything
to the contrary in the preceding two sentences, the completion, execution and
submission of such documentation (other than such documentation set forth in
Section&nbsp;2.17(f)(ii)(A) through (E) below) shall not be required if in the
Lender&#146;s judgment such completion, execution or submission would subject such
Lender to any material unreimbursed cost or expense or would materially
prejudice the legal or commercial position of such Lender.&nbsp; Upon the reasonable
request of such Borrower or the Administrative Agent, any Lender shall update
any form or certification previously delivered pursuant to this
Section&nbsp;2.17(f).&nbsp; If any form or certification previously delivered
pursuant to this Section&nbsp;expires or becomes obsolete or inaccurate in any
respect with respect to a Lender, such Lender shall promptly (and in any event
within 10 days after such expiration, obsolescence or inaccuracy) notify such
Borrower and the Administrative Agent in writing of such expiration,
obsolescence or inaccuracy and update the form or certification if it is
legally eligible to do so.</h3>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(ii)&nbsp; Without limiting the generality of the foregoing, if the Borrower is
a U.S.&nbsp;Person, any Lender with respect to such Borrower shall, if it is
legally eligible to do so, deliver to such Borrower and the Administrative
Agent (in such number of copies reasonably requested by such Borrower and the
Administrative Agent) on or prior to the date on which such Lender becomes a
party hereto, duly completed and executed copies of whichever of the following
is applicable:</h4>

<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";text-indent:1.0in'>(A) in the case of a Lender that
is a U.S.&nbsp;Person, IRS&nbsp;Form W-9 certifying that such Lender is exempt
from U.S.&nbsp;Federal backup withholding tax;</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";text-indent:1.0in'>(B) in the case of a
Non-U.S.&nbsp;Lender claiming the benefits of an income tax treaty to which the
United&nbsp;States is a party (1)&nbsp;with respect to payments of interest
under this Agreement, IRS&nbsp;Form W-8BEN establishing an exemption from, or
reduction of, U.S.&nbsp;Federal withholding Tax pursuant to the &#147;interest&#148;
article of such tax treaty and (2)&nbsp;with respect to any other applicable payments
under this Agreement, IRS&nbsp;Form W-8BEN establishing an exemption from, or
reduction of, U.S.&nbsp;Federal withholding Tax pursuant to the &#147;business
profits&#148; or &#147;other income&#148; article of such tax treaty;</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";text-indent:1.0in'>(C) in the case of a
Non-U.S.&nbsp;Lender for whom payments under this Agreement constitute income
that is effectively connected with such Lender&#146;s conduct of a trade or business
in the United&nbsp;States, IRS&nbsp;Form W-8ECI;</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";text-indent:1.0in'>(D) in the case of a
Non-U.S.&nbsp;Lender claiming the benefits of the exemption for portfolio
interest under Section&nbsp;881(c) of the Code both (1)&nbsp;IRS&nbsp;Form
W-8BEN and (2)&nbsp;a certificate substantially in the form of Exhibit C (a &#147;<u>U.S.&nbsp;Tax
Certificate</u>&#148;) to the effect that such Lender is not (a)&nbsp;a &#147;bank&#148;
within the meaning of Section&nbsp;881(c)(3)(A) of the Code, (b)&nbsp;a &#147;10
percent shareholder&#148; of the Borrower within the meaning of
Section&nbsp;881(c)(3)(B) of the Code, (c)&nbsp;a &#147;controlled foreign
corporation&#148; described in Section&nbsp;881(c)(3)(C) of the Code and
(d)&nbsp;conducting a trade or business in the United&nbsp;States with which
the relevant interest payments are effectively connected;</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";text-indent:1.0in'>(E) in the case of a
Non-U.S.&nbsp;Lender that is not the beneficial owner of payments made under
this Agreement (including a partnership or a participating Lender) (1)&nbsp;an
IRS&nbsp;Form W-8IMY on behalf of itself and (2)&nbsp;the relevant forms
prescribed in clauses&nbsp;(A), (B), (C), (D) and (F) of this
paragraph&nbsp;(f)(ii)&nbsp;that would be required of each such beneficial
owner or partner of such partnership if such beneficial owner or partner were a
Lender; <u>provided</u>, <u>however</u>, that if the Lender is a partnership
and one or more of its partners are claiming the exemption for portfolio
interest under Section&nbsp;881(c) of the Code, such Lender may provide a
U.S.&nbsp;Tax Certificate on behalf of such partners; or</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";text-indent:1.0in'>(F) any other form prescribed by
law as a basis for claiming exemption from, or a reduction of,
U.S.&nbsp;Federal withholding Tax together with such supplementary
documentation necessary to enable the Borrower or the Administrative Agent to
determine the amount of Tax (if any) required by law to be withheld.</p>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(iii)&nbsp; If a payment made to a Lender under this Agreement would be subject
to U.S.&nbsp;Federal withholding Tax imposed by FATCA if such Lender were to
fail to comply with the applicable reporting requirements of FATCA (including
those contained in Section&nbsp;1471(b) or 1472(b) of the Code, as applicable),
such Lender shall deliver to the Withholding Agent, at the time or times
prescribed by law and at such time or times reasonably requested by the
Withholding Agent, such documentation prescribed by applicable law (including
as prescribed by Section&nbsp;1471(b)(3)(C)(i) of the Code) and such additional
documentation reasonably requested by the Withholding Agent as may be necessary
for the Withholding Agent to comply with its obligations under FATCA, to determine
that such Lender has or has not complied with such Lender&#146;s obligations under
FATCA and, as necessary, to determine the amount to deduct and withhold from
such payment.&nbsp; Solely for purposes of this Section&nbsp;2.17(f)(iii), &#147;FATCA&#148;
shall include any amendments made to FATCA after the date of this Agreement.&nbsp; </h4>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(g)&nbsp; <u>Treatment of Certain Refunds.</u>&nbsp; If any
party determines, in its sole discretion exercised in good faith, that it has
received a refund of any Taxes as to which it has been indemnified pursuant to this
Section&nbsp;2.17 (including additional amounts paid pursuant to this
Section&nbsp;2.17), it shall pay to the indemnifying party an amount equal to
such refund (but only to the extent of indemnity payments made under this
Section&nbsp;with respect to the Taxes giving rise to such refund), net of all
out-of-pocket expenses (including any Taxes) of such indemnified party and
without interest (other than any interest paid by the relevant Governmental
Authority with respect to such refund).&nbsp; Such indemnifying party, upon the
request of such indemnified party, shall repay to such indemnified party the
amount paid to such indemnified party pursuant to the previous sentence (plus
any penalties, interest or other charges imposed by the relevant Governmental
Authority) in the event such indemnified party is required to repay such refund
to such Governmental Authority.&nbsp; Notwithstanding anything to the contrary in
this Section&nbsp;2.17(g), in no event will any indemnified party be required
to pay any amount to any indemnifying party pursuant to this
Section&nbsp;2.17(g) if such payment would place such indemnified party in a
less favorable position (on a net after-Tax basis) than such indemnified party
would have been in if the indemnification payments or additional amounts giving
rise to such refund had never been paid.&nbsp; This Section&nbsp;2.17(g) shall not
be construed to require any indemnified party to make available its Tax returns
(or any other information relating to its Taxes which it deems confidential) to
the indemnifying party or any other Person.</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744190">SECTION 2.18.&nbsp; <u>Payments
Generally; Pro Rata Treatment; Sharing of Set&#8209;offs.</u>&nbsp; </a>(a)&nbsp; The Borrower shall make each payment required to be made by it hereunder (whether of
principal, interest, fees or reimbursement of LC Disbursements, or of amounts payable
under Section&nbsp;2.15, 2.16 or 2.17, or otherwise) prior to 1:00&nbsp;p.m.,
New&nbsp;York City time (or, in the case of an amount payable in an Alternate
Currency, 1:00&nbsp;p.m. local time at the place of payment), on the date when
due, in immediately available funds, without set&#8209;off or counterclaim.&nbsp;
Any amounts received after such time on any date may, in the discretion of the
Paying Agent, be deemed to have been received on the next succeeding Business
Day for purposes of calculating interest thereon.&nbsp; All such payments shall be
made to the Paying Agent at its offices at 270 Park Avenue, New&nbsp;York,
New&nbsp;York (or, in the case of payments in an Alternate Currency, such other
location as provided below), except payments to be made directly to an Issuing
Bank or a Swingline Lender as expressly provided herein and except that
payments pursuant to Sections&nbsp;2.15, 2.16, 2.17 and 9.03 shall be made
directly to the Persons entitled thereto.&nbsp; The Paying Agent shall distribute
any such payments received by it for the account of any other Person to the
appropriate recipient promptly following receipt thereof.&nbsp; If any payment
hereunder shall be due on a day that is not a Business Day, the date for
payment shall be extended to the next succeeding Business Day, and, in the case
of any payment accruing interest, interest thereon shall be payable for the
period of such extension.&nbsp; All payments hereunder shall be made in dollars,
except as expressly provided herein with respect to Alternate Currency Letters
of Credit.&nbsp; All payments to be made by the Borrower in an Alternate Currency
pursuant to Section 2.06(m) shall be made in such Alternate Currency in such
funds as may then be customary for the settlement of international transactions
in such Alternate Currency for the account of the applicable Issuing Bank at
such time and at such place as shall have been notified by such Issuing Bank to
the Borrower by not less than four Business Days&#146; notice.</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; If at any time insufficient funds are received
by and available to the Paying Agent to pay fully all amounts of principal,
unreimbursed LC Disbursements, interest and fees then due hereunder, such funds
shall be applied (i)&nbsp;first, towards payment of interest and fees then due
hereunder, ratably among the parties entitled thereto in accordance with the
amounts of interest and fees then due to such parties, and (ii)&nbsp;second,
towards payment of principal and unreimbursed LC Disbursements then due
hereunder, ratably among the parties entitled thereto in accordance with the
amounts of principal and unreimbursed LC Disbursements then due to such
parties.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(c)&nbsp; If any Lender shall, by exercising any right
of set&#8209;off or counterclaim or otherwise, obtain payment in respect of any
principal of or interest on any of its Revolving Loans or participations in LC
Disbursements or Swingline Loans resulting in such Lender receiving payment of
a greater proportion of the aggregate amount of its Revolving Loans and
participations in LC Disbursements and Swingline Loans and accrued interest
thereon than the proportion received by any other Lender, then the Lender
receiving such greater proportion shall purchase (for cash at face value)
participations in the Revolving Loans and participations in LC Disbursements
and Swingline Loans of other Lenders to the extent necessary so that the
benefit of all such payments shall be shared by the Lenders ratably in
accordance with the aggregate amount of principal of and accrued interest on
their respective Revolving Loans and participations in LC Disbursements and
Swingline Loans; <u>provided</u> that (i)&nbsp;if any such participations are
purchased and all or any portion of the payment giving rise thereto is
recovered, such participations shall be rescinded and the purchase price
restored to the extent of such recovery, without interest, and (ii)&nbsp;the provisions
of this paragraph shall not be construed to apply to any payment made by the
Borrower pursuant to and in accordance with the express terms of this Agreement
or any payment obtained by a Lender as consideration for the assignment of or
sale of a participation in any of its Loans or participations in LC
Disbursements to any assignee or participant, other than to the Borrower or any
Subsidiary or Affiliate thereof (as to which the provisions of this paragraph
shall apply).&nbsp; The Borrower consents to the foregoing and agrees, to the extent
it may effectively do so under applicable law, that any Lender acquiring a
participation pursuant to the foregoing arrangements may exercise against the
Borrower rights of set&#8209;off and counterclaim with respect to such
participation as fully as if such Lender were a direct creditor of the Borrower
in the amount of such participation.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(d)&nbsp; Unless the Paying Agent shall have received
notice from the Borrower prior to the date on which any payment is due to the
Paying Agent for the account of the Lenders or any Issuing Bank hereunder that
the Borrower will not make such payment, the Paying Agent may assume that the
Borrower has made such payment on such date in accordance herewith and may, in
reliance upon such assumption, distribute to the Lenders or such Issuing Bank,
as the case may be, the amount due.&nbsp; In such event, if the Borrower has not in
fact made such payment, then each of the Lenders or the applicable Issuing
Bank, as the case may be, severally agrees to repay to the Paying Agent
forthwith on demand the amount so distributed to such Lender or Issuing Bank
with interest thereon, for each day from and including the date such amount is
distributed to it to but excluding the date of payment to the Paying Agent, at
the greater of the Federal Funds Effective Rate and a rate determined by the
Paying Agent in accordance with banking industry rules on interbank
compensation.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(e)&nbsp; If any Lender shall fail to make any payment
required to be made by it pursuant to Section&nbsp;2.05(c), 2.06(d) or (e),
2.07(b) or 2.18(d), then the Paying Agent may, in its discretion
(notwithstanding any contrary provision hereof), apply any amounts thereafter
received by the Paying Agent for the account of such Lender to satisfy such
Lender&#146;s obligations under such Sections until all such unsatisfied obligations
are fully paid.</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744191">SECTION 2.19.&nbsp; <u>Mitigation
Obligations; Replacement of Lenders.</u>&nbsp; </a>(a)&nbsp; If any Lender requests
compensation under Section&nbsp;2.15, or if&nbsp;the Borrower is required to
pay any additional amount to any Lender or any Governmental Authority for the
account of any Lender pursuant to Section&nbsp;2.17, then such Lender shall use
reasonable efforts to designate a different lending office for funding or
booking its Loans hereunder or to assign its rights and obligations hereunder
to another of its offices, branches or affiliates, if, in the judgment of such
Lender, such designation or assignment (i)&nbsp;would eliminate or reduce
amounts payable pursuant to Section&nbsp;2.15 or 2.17, as the case may be, in
the future and (ii)&nbsp;would not subject such Lender to any unreimbursed cost
or expense and would not otherwise be disadvantageous to such Lender.&nbsp; The
Borrower hereby agrees to pay all reasonable costs and expenses incurred by any
Lender in connection with any such designation or assignment.</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; If (i) any Lender requests compensation under
Section&nbsp;2.15, (ii) the Borrower is required to pay any additional amount
to any Lender or any Governmental Authority for the account of any Lender
pursuant to Section&nbsp;2.17, (iii) any Lender is a Declining Lender or a
Defaulting Lender or (iv) any Lender has failed to consent to a proposed
amendment, waiver or modification that under Section 9.02 requires the consent
of all the Lenders (or each affected Lender) and with respect to which the Required
Lenders shall have granted their consent, then the Borrower may, at its sole
expense and effort, upon notice to such Lender and the Paying Agent, require
such Lender to assign and delegate, without recourse (in accordance with and
subject to the restrictions contained in Section&nbsp;9.04), all its interests,
rights and obligations under this Agreement (other than any outstanding
Competitive Loans held by it) to an assignee that shall assume such obligations
(which assignee may be another Lender, if a Lender accepts such assignment); <u>provided</u>
that (A)&nbsp;the Borrower shall have received the prior written consent of the
Paying Agent, which consent shall not unreasonably be withheld, (B)&nbsp;such
Lender shall have received payment of an amount equal to the outstanding
principal of its Loans (other than Competitive Loans) and participations in LC
Disbursements and Swingline Loans, accrued interest thereon, accrued fees and
all other amounts payable to it hereunder, from the assignee (to the extent of
such outstanding principal and accrued interest and fees) or the Borrower (in
the case of all other amounts), (C)&nbsp;in the case of any such assignment
resulting from a claim for compensation under Section&nbsp;2.15 or payments
required to be made pursuant to Section&nbsp;2.17, such assignment will result
in a reduction in such compensation or payments, (D) in the case of any
assignment resulting from a Lender being a Declining Lender, the assignee shall
have agreed to the applicable Maturity Date Extension Request and (E) in the
case of any such assignment resulting from the failure to provide a consent,
the assignee shall have given such consent.&nbsp; A Lender shall not be required to
make any such assignment and delegation if, prior thereto, as a result of a
waiver by such Lender or otherwise, the circumstances entitling the Borrower to
require such assignment and delegation cease to apply.&nbsp; Each party hereto
agrees that an assignment and delegation required pursuant to this paragraph
may be effected pursuant to an Assignment and Assumption executed by the
Borrower, the Paying Agent and the assignee and that the Lender required to
make such assignment and delegation need not be a party thereto.</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744192">SECTION 2.20.&nbsp; <u>Increase
in Commitments.</u>&nbsp; </a>(a)&nbsp; &nbsp;&nbsp;At any time after the Effective Date and no
more than two times during any calendar year, the Borrower may, by written
notice to the Paying Agent (which shall promptly deliver a copy to each of the
Lenders), request at any time or from time to time that the Total Commitments
be increased; <u>provided</u> that (i) the aggregate amount of each such
increase pursuant to this Section 2.20 shall not be less than $20,000,000 and
the aggregate amount of all such increases pursuant to this Section 2.20 shall
not exceed $250,000,000 (for an aggregate amount of Total Commitments of up to
$1,750,000,000), (ii) each such request of the Borrower shall be deemed to be
an offer to each&nbsp; Lender to increase its Commitment by its Applicable
Percentage of the proposed increased amount and (iii) each Lender, in its sole
discretion, may either (A) agree to increase its Commitment by all or a portion
of the offered amount or (B) decline to increase its Commitment.&nbsp; Any such
notice shall set forth the amount of the requested increase in the Total
Commitments and the date on which such increase is requested to become
effective.&nbsp; In the event that the Lenders shall have agreed to increase their
Commitments by an aggregate amount less than the increase in the Total
Commitments requested by the Borrower, the Borrower may arrange for one or more
banks or other financial institutions (any such bank or other financial
institution being called an &#147;<u>Augmenting Lender</u>&#148;), which may include any
Lender, to extend Commitments or increase its existing Commitment in an
aggregate amount equal to the unsubscribed amount; <u>provided</u> that each
Augmenting Lender, if not already a Lender hereunder, shall be subject to the
approval of the Paying Agent (not to be unreasonably withheld).&nbsp; Increases of
Commitments and new Commitments created pursuant to this paragraph (a) shall
become effective upon the execution and delivery by Parent, the Borrower, the
Paying Agent and any Lenders (including any Augmenting Lenders) agreeing to
increase their existing Commitments or extend new Commitments, as the case may
be, of an agreement providing for such increased or additional Commitments,
subject to the satisfaction of any conditions set forth in such agreement.&nbsp;
Notwithstanding the foregoing, no increase in the Total Commitments (or in the
Commitment of any Lender) shall become effective under this paragraph (a)
unless, on the date of such increase, the conditions set forth in paragraphs
(a) and (b) of Sections 4.02 shall be satisfied (as though a Borrowing were
being made on such date) and the Paying Agent shall have received a certificate
to that effect dated such date and executed by a Responsible Officer or a
Financial Officer of Parent and the Borrower.</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; At the time that any increase in the Total
Commitments pursuant to paragraph (a) of this Section 2.20 (a &#147;<u>Commitment
Increase</u>&#148;) becomes effective, if any Revolving Loans are outstanding, the
Borrower shall prepay the aggregate principal amount outstanding in respect of
such Revolving Loans in accordance with Section 2.11 (the &#147;<u>Initial Loans</u>&#148;);
<u>provided</u> that (i) nothing in this Section 2.20 shall prevent the
Borrower from funding the prepayment of Initial Loans with concurrent Revolving
Loans hereunder in accordance with the provisions of this Agreement, giving
effect to the Commitment Increase, and (ii) no such prepayment shall be
required if, after giving effect to the Commitment Increase, each Lender has
the same Applicable Percentage as immediately prior to such Commitment
Increase.</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744193">SECTION 2.21.&nbsp; <u>Currency
Fluctuations.</u>&nbsp; </a>(a)&nbsp; Not later than 1:00 p.m., New York City time, on
each Calculation Date, if there are any Alternate Currency Letters of Credit
outstanding, (i)&nbsp;each Issuing Bank that has outstanding any Alternate
Currency Letter of Credit or LC Disbursement thereunder shall determine the
Dollar Amount as of such Calculation Date of each outstanding Alternate
Currency Letter of Credit issued by it or LC Disbursement thereunder, and such
Issuing Bank shall notify the Paying Agent and the Borrower of each Dollar
Amount so determined and the relevant Spot Exchange Rate used by it to make
such determination and (ii) the Paying Agent shall give notice to the Lenders
and the Borrower of the Spot Exchange Rates so determined.&nbsp; The Spot Exchange
Rates so determined shall become effective on the first Business Day
immediately following the relevant Calculation Date (a &#147;<u>Reset Date</u>&#148;) and
(subject to Section&nbsp;2.06(m)) shall remain effective until the next
succeeding Reset Date.</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; Not later than 5:00 p.m., New York City time,
on each Reset Date and the date of each Borrowing or issuance of a Letter of
Credit, if there are any Alternate Currency Letters of Credit then outstanding,
the Paying Agent shall (i) determine the Dollar Equivalent of the Alternate
Currency Letters of Credit then outstanding (after giving effect to any Loans
to be made or repaid on such date) and (ii) notify the Lenders and the Borrower
of the results of such determination and of the resulting total Revolving
Credit Exposures.</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744194">SECTION 2.22.&nbsp; <u>Extension
of Maturity Date.</u>&nbsp; </a>(a)&nbsp; The Borrower may, by delivery of a written
request (a &#147;<u>Maturity Date Extension Request</u>&#148;) to the Paying Agent (which
shall promptly deliver a copy to each of the Lenders) not less than
30&nbsp;days and not more than 90&nbsp;days prior to the first or second
anniversary of the Effective Date, request that the Lenders extend the Maturity
Date for an additional period of one year; provided that there shall be no more
than two extensions of the Maturity Date pursuant to this Section.</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; Each Lender shall, by notice to the Borrower
and the Administrative Agent given not later than the 20th&nbsp;day after the
date of the Paying Agent&#146;s receipt of the Borrower&#146;s Maturity Date Extension
Request (or such other date as the Borrower and the Paying Agent may agree;
such date, the &#147;<u>Extension Date</u>&#148;), advise the Borrower whether or not it
agrees to the requested extension (each Lender agreeing to a requested
extension being called a &#147;<u>Consenting Lender</u>&#148;, and each Lender declining
to agree to a requested extension being called a &#147;<u>Declining Lender</u>&#148;).&nbsp;
Any Lender that has not so advised the Borrower and the Paying Agent by such
Extension Date shall be deemed to have declined to agree to such extension and
shall be a Declining Lender.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(c)&nbsp; If Lenders constituting the Required Lenders
shall have agreed to a Maturity Date Extension Request by the Extension Date,
then the Maturity Date shall, as to the Consenting Lenders, be extended to the
first anniversary of the Maturity Date theretofore in effect.&nbsp; The decision to
agree or withhold agreement to any Maturity Date Extension Request shall be at
the sole discretion of each Lender.&nbsp; The Commitment of any Declining Lender
shall terminate on the Maturity Date in effect prior to giving effect to any
such extension (such Maturity Date being called the &#147;<u>Existing Maturity Date</u>&#148;).&nbsp;
The principal amount of any outstanding Loans made by Declining Lenders,
together with any accrued interest thereon and any accrued fees and other
amounts payable to or for the account of such Declining Lenders hereunder,
shall be due and payable on the Existing Maturity Date, and on the Existing
Maturity Date the Borrower shall also make such other prepayments of Loans
pursuant to Section&nbsp;2.11 as shall be required in order that, after giving
effect to the termination of the Commitments of, and all payments to, Declining
Lenders pursuant to this sentence, the sum of the total Revolving Credit
Exposures plus the aggregate principal amount of outstanding Competitive Loans
would not exceed the Total Commitments.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(d)&nbsp; Notwithstanding the foregoing provisions of
this Section&nbsp;2.22, the Borrower shall have the right, pursuant to
Section&nbsp;2.19(b), at any time prior to the Existing Maturity Date, to
replace a Declining Lender with a Lender or other financial institution that
will agree to the applicable Maturity Date Extension Request, and any such replacement
Lender shall for all purposes constitute a Consenting Lender.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(e)&nbsp; Notwithstanding the foregoing provisions of
this Section&nbsp;2.22, no extension of the Maturity Date pursuant to this
Section&nbsp;2.22 shall become effective unless, on or promptly following the
Extension Date, the conditions set forth in Section&nbsp;4.02 shall be
satisfied (with all references in such Section to a Borrowing being deemed to
be references to such extension and without giving effect to the parenthetical
in Section&nbsp;4.02(a))&nbsp; and the Paying Agent shall have received a
certificate to that effect dated the Extension Date and executed by a
Responsible Officer or a Financial Officer of each of Parent and the Borrower.</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744195">SECTION 2.23.&nbsp; <u>Defaulting
Lenders.</u>&nbsp; Notwithstanding any provision of this Agreement to the contrary,
if any Lender becomes a Defaulting Lender, then the following provisions shall
apply for so long as such Lender is a Defaulting Lender:</a></h2>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(a)&nbsp; facility fees shall cease to accrue on the unused amount of the
Commitment of such Defaulting Lender pursuant to Section 2.12(a);</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(b)&nbsp; the Commitment and Revolving Credit Exposure of such Defaulting Lender
shall not be included in determining whether the Required Lenders or any other
requisite Lenders have taken or may take any action hereunder or under any
other Loan Document (including any consent to any amendment, waiver or other
modification pursuant to Section 9.02); <u>provided</u> that any amendment,
waiver or other modification requiring the consent of all Lenders or all
Lenders affected thereby shall, except as otherwise provided in Section 9.02,
require the consent of such Defaulting Lender in accordance with the terms
hereof;</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(c)&nbsp; if any Swingline Exposure or LC Exposure exists at the time such
Lender becomes a Defaulting Lender then:</h4>

<h5 style='mso-style-name:"Heading 5\,h5\,H5";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:1.0in'>(i) the Swingline Exposure and LC Exposure of such
Defaulting Lender shall be reallocated among the Non-Defaulting Lenders in
accordance with their respective Applicable Percentages but only to the extent
that the sum of all Non-Defaulting Lenders&#146; Revolving Exposures plus such
Defaulting Lender&#146;s Swingline Exposure and LC Exposure does not exceed the sum
of all Non-Defaulting Lenders&#146; Commitments;</h5>

<h5 style='mso-style-name:"Heading 5\,h5\,H5";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:1.0in'>(ii) if the reallocation described in clause (i)
above cannot, or can only partially, be effected, the Borrower shall within one
Business Day following notice by the Paying Agent (A) first, prepay the portion
of such Defaulting Lender&#146;s Swingline Exposure that has not been reallocated
and (B)&nbsp;second, cash collateralize for the benefit of the Issuing Banks
the portion of such Defaulting Lender&#146;s LC Exposure that has not been
reallocated in accordance with the procedures set forth in Section&nbsp;2.06(j)
for so long as such LC Exposure is outstanding;</h5>

<h5 style='mso-style-name:"Heading 5\,h5\,H5";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:1.0in'>(iii) if the Borrower cash collateralizes any
portion of such Defaulting Lender&#146;s LC Exposure pursuant to clause (ii) above,
the Borrower shall not be required to pay participation fees to such Defaulting
Lender pursuant to Section 2.12(b) with respect to such portion of such
Defaulting Lender&#146;s LC Exposure for so long as such Defaulting Lender&#146;s LC
Exposure is cash collateralized;</h5>

<h5 style='mso-style-name:"Heading 5\,h5\,H5";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:1.0in'>(iv) if any portion of the LC Exposure of such
Defaulting Lender is reallocated pursuant to clause (i) above, then the fees
payable to the Lenders pursuant to Sections 2.12(a) and 2.12(b) shall be
adjusted to give effect to such reallocation; and</h5>

<h5 style='mso-style-name:"Heading 5\,h5\,H5";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:1.0in'>(v) if all or any portion of such Defaulting
Lender&#146;s LC Exposure is neither reallocated nor cash collateralized pursuant to
clause (i) or (ii) above, then, without prejudice to any rights or remedies of
any Issuing Bank or any other Lender hereunder, all facility fees that
otherwise would have been payable to such Defaulting Lender (solely with
respect to the portion of such Defaulting Lender&#146;s Commitment utilized by such
LC Exposure) and participation fees payable under Section 2.12(b) with respect
to such Defaulting Lender&#146;s LC Exposure shall be payable to the Issuing Banks
(and allocated among them ratably based on the amount of such Defaulting
Lender&#146;s LC Exposure attributable to Letters of Credit issued by each Issuing
Bank) until and to the extent that such LC Exposure is reallocated and/or cash
collateralized; and</h5>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(d)&nbsp; so long as such Lender is a Defaulting Lender, the Swingline Lender
shall not be required to fund any Swingline Loan and no Issuing Bank shall be
required to issue, amend, renew or extend any Letter of Credit, unless in each
case it is satisfied that the related exposure and the Defaulting Lender&#146;s then
outstanding Swingline Exposure or LC Exposure, as applicable, will be fully
covered by the Commitments of the Non-Defaulting Lenders and/or cash collateral
provided by the Borrower in accordance with Section 2.23(c), and participating
interests in any such funded Swingline Loan or in any such issued, amended,
reviewed or extended Letter of Credit will be allocated among the
Non-Defaulting Lenders in a manner consistent with Section&nbsp;2.23(c)(i) (and
such Defaulting Lender shall not participate therein).</h4>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>In the event that (x) a Bankruptcy Event with
respect to a Lender Parent shall have occurred following the date hereof and
for so long as such Bankruptcy Event shall continue or (y) the Swingline Lender
or any Issuing Bank has a good faith belief that any Lender has defaulted in
fulfilling its obligations under one or more other agreements in which such
Lender commits to extend credit, the Swingline Lender shall not be required to
fund any Swingline Loan, and no Issuing Bank shall be required to issue, amend,
renew or extend any Letter of Credit, unless the Swingline Lender or such
Issuing Bank, as the case may be, shall have entered into arrangements with the
Borrower or such Lender satisfactory to the Swingline Lender or such Issuing
Bank, as the case may be, to defease any risk to it in respect of such Lender
hereunder.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>In the event that the Paying Agent, the
Borrower, the Swingline Lender and each Issuing Bank each agree that a
Defaulting Lender has adequately remedied all matters that caused such Lender
to be a Defaulting Lender, then the Swingline Exposure and LC Exposure of the
Lenders shall be readjusted to reflect the inclusion of such Lender&#146;s
Commitment and on such date such Lender shall purchase at par such of the Loans
of the other Lenders (other than Swingline Loans) as the Paying Agent shall
determine may be necessary in order for such Lender to hold such Loans in
accordance with its Applicable Percentage.</p>

<h1 style='mso-style-name:"Heading 1\,h1\,H1";margin-top:24.0pt;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;text-indent:0in;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;text-decoration:underline;margin-left:0in;text-indent:0in'>ARTICLE
III<br>
<a name="_Toc295744196"><br>
Representations and Warranties</a></h1>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>Each of Parent and the Borrower represents and
warrants to the Lenders that:</p>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744197">SECTION 3.01.&nbsp; <u>Organization.</u>&nbsp;
Each of Parent and the Borrower is a corporation duly organized, validly
existing and in good standing under the laws of the jurisdiction of its
incorporation.</a></h2>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744198">SECTION 3.02.&nbsp; <u>Powers;
Authorization; No Conflicts; Enforceability.</u>&nbsp; The Transactions are within
each Loan Party&#146;s corporate powers, have been duly authorized by all necessary
corporate action, and do not contravene (a)&nbsp;any Loan Party&#146;s charter or by&#8209;laws
or (b)&nbsp;law or any contractual restriction binding on or affecting any Loan
Party.&nbsp; This Agreement has been, and each of the other Loan Documents to which
any Loan Party is to be a party when delivered hereunder will have been, duly
executed and delivered by each Loan Party that is a party hereto or thereto, as
applicable.&nbsp; This Agreement is, and each of the other Loan Documents to which
any Loan Party is to be a party when delivered will be, the legal, valid and
binding obligation of each Loan Party that is a party hereto or thereto, as
applicable, enforceable against each such Loan Party in accordance with its
terms.</a></h2>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744199">SECTION 3.03.&nbsp; <u>Approvals.</u>&nbsp;
No authorization or approval or other action by, and no notice to or filing
with, any Governmental Authority or any other third party is required for the
due execution, delivery and performance by any Loan Party of any Loan Document
to which it is to be a party, the borrowing of the Loans, the use of the
proceeds thereof or the issuance of Letters of Credit hereunder.</a></h2>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744200">SECTION 3.04.&nbsp; <u>Financial
Condition; No Material Adverse Change.</u>&nbsp; <br>
</a>(a)&nbsp; The consolidated balance sheet of Parent and its subsidiaries as at
January 29, 2011, and the related consolidated statements of income and cash
flows of Parent and its subsidiaries for the fiscal year then ended,
accompanied by an opinion of KPMG LLP, independent public accountants, and the
consolidated balance sheet of Parent and its subsidiaries as at May 1, 2011,
and the related consolidated statements of income and cash flows of Parent and
its subsidiaries for the three months then ended, duly certified by a Financial
Officer of Parent, copies of which have been furnished to the Lenders, fairly
present, subject, in the case of said balance sheet as at May 1, 2011, and said
statements of income and cash flows for the three months then ended, to
year-end audit adjustments, the consolidated financial condition of Parent and
its subsidiaries as at such dates and the consolidated results of the
operations of Parent and its subsidiaries for the periods ended on such dates,
all in accordance with GAAP consistently applied.</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; Since January 29, 2011, there has been no
material adverse change in the business, condition (financial or otherwise),
operations, performance, properties or prospects of Parent and its
Subsidiaries, taken as a whole.</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744201">SECTION 3.05.&nbsp; <u>Litigation.</u>&nbsp;
There is no pending or threatened action, suit, investigation, litigation or
proceeding affecting Parent or any Subsidiary pending or threatened before any
Governmental Authority or arbitrator that (a)&nbsp;would be reasonably likely
to have a Material Adverse Effect or (b)&nbsp;purports to affect the legality,
validity or enforceability of any Loan Document or the consummation of the
transactions contemplated hereby.</a></h2>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744202">SECTION 3.06.&nbsp; <u>Investment
Company Status.</u>&nbsp; None of the Loan Parties is an &#147;investment company&#148;,
within the meaning of the Investment Company Act of 1940.</a></h2>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744203">SECTION 3.07.&nbsp; <u>ERISA.</u>&nbsp;
</a>(a)&nbsp; No ERISA Event has occurred or is reasonably expected to occur with
respect to any Plan that has resulted in or is reasonably expected to have a
Material Adverse Effect.</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; Neither the Borrower nor any ERISA Affiliate
has incurred or is reasonably expected to incur any Withdrawal Liability to any
Multiemployer Plan that could be reasonably expected to have a Material Adverse
Effect.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(c)&nbsp; Each Plan satisfies the funding requirements
under Section 302 of ERISA and there has been no change in the funding status
of any such Plan since the last annual actuarial valuation date that would
reasonably be expected to have a Material Adverse Effect. </h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744204">SECTION 3.08.&nbsp; <u>Bloomingdale&#146;s
Lease.</u>&nbsp; </a>(a)&nbsp; As of December 18, 2008, if the Guarantee Agreement had
been in effect and the Bloomingdale&#146;s Parties had been party thereto, the
amount of their maximum liability under the Guarantee Agreement would have
exceeded $500,000,000.</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; Notwithstanding the foregoing, the
representation made pursuant to this Section&nbsp;3.08 shall not apply
following the Subsidiary Guarantee Termination Date.</h3>

<h1 style='mso-style-name:"Heading 1\,h1\,H1";margin-top:24.0pt;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;text-indent:0in;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;text-decoration:underline;margin-left:0in;text-indent:0in'>ARTICLE
IV<br>
<a name="_Toc295744205"><br>
Conditions</a></h1>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744206">SECTION 4.01.&nbsp; <u>Effective
Date.</u>&nbsp; The obligations of the Lenders to make Loans and of the Issuing Banks
to issue Letters of Credit hereunder shall not become effective until the date
on which each of the following conditions is satisfied (or waived in accordance
with Section 9.02):</a></h2>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(a)&nbsp; The Paying Agent (or its counsel) shall have received from each party
hereto either (i) a counterpart of this Agreement signed on behalf of such
party or (ii)&nbsp;written evidence satisfactory to the Paying Agent (which may
include facsimile or other electronic transmission of a signed signature page
of this Agreement) that such party has signed a counterpart of this Agreement.</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(b)&nbsp; The Paying Agent (or its counsel) shall have received from Parent, the
Borrower and each Subsidiary Loan Party as of the Effective Date, either
(i)&nbsp;a counterpart of the Guarantee Agreement (in the form attached hereto
as Exhibit&nbsp;B) signed on behalf of such party or (ii) written evidence
satisfactory to the Paying Agent (which may include facsimile or other
electronic transmission of a signed signature page of the Guarantee Agreement)
that such party has signed a counterpart of the Guarantee Agreement.</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(c)&nbsp; The Paying Agent shall have received a favorable written opinion
(addressed to the Paying Agent and the Lenders and dated as of the Effective
Date) of (i) Jones Day, counsel to the Loan Parties and (ii)&nbsp;Dennis J. Broderick,
the General Counsel of the Parent, in each case covering such matters relating
to the Loan Parties, the Transactions or the Loan Documents as the Required
Lenders or Paying Agent shall reasonably request.&nbsp; Parent and the Borrower
hereby request such counsel to deliver such opinions.</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(d)&nbsp; The Paying Agent shall have received such documents and certificates
as the Paying Agent or its counsel may reasonably request relating to the
organization, existence and good standing of the Loan Parties and the authorization
of the Transactions and any other legal matters relating to the Loan Parties,
the Transactions or the Loan Documents, all in form and substance satisfactory
to the Paying Agent and its counsel, including all documentation and other
information required by bank regulatory authorities under applicable &#147;know your
customer&#148; and anti-money laundering rules and regulations, including the
Patriot Act.</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(e)&nbsp; The representations and warranties of the Loan Parties set forth in
the Loan Documents shall be true and correct in all material respects as of the
Effective Date, no Default shall have occurred and be continuing as of the
Effective Date and the Paying Agent shall have received a certificate, dated
the Effective Date and signed by a Responsible Officer or a Financial Officer
of Parent and the Borrower, confirming the foregoing.</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(f)&nbsp; The Paying Agent shall have received all fees and other amounts due
and payable on or prior to the Effective Date, including, to the extent
invoiced, reimbursement or payment of all out-of-pocket expenses required to be
reimbursed or paid by the Borrower under the Loan Documents.</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(g)&nbsp; Prior to or substantially contemporaneously with the satisfaction of
the conditions set forth herein on the Effective Date, all amounts owing under
the Existing Credit Agreement shall have been or shall be paid in full and the
commitments thereunder shall have been or shall be terminated, and the Paying
Agent shall have received reasonably satisfactory evidence thereof.</h4>

<p style='mso-style-name:"Body Text \.5 First Line Indent";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";text-indent:0in'>The Paying Agent
shall notify the Borrower and the Lenders of the Effective Date, and such
notice shall be conclusive and binding.&nbsp; Notwithstanding the foregoing, the
obligations of the Lenders to make Loans and of any Issuing Bank to issue any
Letter of Credit and the incorporation of the Existing Letters of Credit as
Letters of Credit hereunder shall not become effective unless each of the
foregoing conditions is satisfied or waived prior to 5:00 p.m., New York City
time, on June 22, 2011 (and, in the event such conditions are not so satisfied
or waived, the Commitments shall terminate at such time).</p>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in;page-break-after:avoid'><a name="_Toc295744207">SECTION
4.02.&nbsp; <u>Each Credit Event.</u>&nbsp; The obligation of each Lender to make a Loan
on the occasion of any Borrowing, and of an Issuing Bank to issue, amend, renew
or extend any Letter of Credit, is subject to the satisfaction of the following
conditions:</a></h2>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(a)&nbsp; The representations and warranties of the Loan Parties set forth in
this Agreement (other than those in Section&nbsp;3.04(b) and clause&nbsp;(a) of
Section&nbsp;3.05, at such times when the Public Debt Ratings are Baa3 and BBB-
or better, respectively) shall be true and correct on and as of the date of
such Borrowing or the date of issuance, amendment, renewal or extension of such
Letter of Credit, as applicable.</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(b)&nbsp; At the time of and immediately after giving effect to such Borrowing
or the issuance, amendment, renewal or extension of such Letter of Credit, as
applicable, no Default shall have occurred and be continuing.</h4>

<p style='mso-style-name:"Body Text No Indent";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>Each Borrowing and each issuance, amendment, renewal
or extension of a Letter of Credit shall be deemed to constitute a representation
and warranty by the Loan Parties on the date thereof as to the matters
specified in paragraphs&nbsp;(a) and (b) of this Section.</p>
<p style='mso-style-name:"Body Text No Indent";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<h1 style='mso-style-name:"Heading 1\,h1\,H1";margin-top:24.0pt;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;text-indent:0in;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;text-decoration:underline;margin-left:0in;text-indent:0in'>ARTICLE
V<br>
<a name="_Toc295744208"><br>
Affirmative Covenants</a></h1>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>Until the Commitments have expired or been
terminated and the principal of and interest on each Loan and all fees payable
hereunder shall have been paid in full and all Letters of Credit shall have
expired or terminated and all LC Disbursements shall have been reimbursed, each
of Parent and the Borrower covenants and agrees with the Lenders that:</p>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744209">SECTION 5.01.&nbsp; <u>Financial
Statements; Ratings Change and Other Information.</u>&nbsp; Parent or the Borrower
will furnish to the Paying Agent and each Lender:</a></h2>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(a)&nbsp; as soon as available and in any event within 90&nbsp;days after the
end of each fiscal year of Parent, a copy of the annual audit report for such
year for Parent and its consolidated subsidiaries, containing a consolidated
balance sheet of Parent and its consolidated subsidiaries as of the end of such
fiscal year and consolidated statements of income and cash flows of Parent and its
consolidated subsidiaries for such fiscal year, in each case accompanied by an
opinion by KPMG LLP or other independent public accountants of recognized
national standing (without a &#147;going concern&#148; or like qualification or exception
and without any qualification or exception as to the scope of such audit) and
certificates of a Financial Officer of Parent (i) as to compliance with the
terms of this Agreement, (ii) setting forth in reasonable detail the then
applicable Public Debt Ratings and the Interest Coverage Ratio and the Leverage
Ratio as of the end of such fiscal year and the calculations necessary to
demonstrate compliance with Sections&nbsp;6.05 and 6.06 as of the end of such
fiscal year and (iii) stating whether any change in GAAP or in the application
thereof has occurred since the date of the last consolidated financial
statements of Parent and its consolidated subsidiaries referred to in Section
3.04(a) that materially affects the financial statements accompanying such
certificate and, if any such change has occurred, specifying the effect of such
change on the financial statements accompanying such certificate;</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(b)&nbsp; as soon as available and in any event within 45&nbsp;days after the
end of each of the first three fiscal quarters of each fiscal year of Parent, a
consolidated balance sheet of Parent and its consolidated subsidiaries as of
the end of such quarter and consolidated statements of income and cash flows of
Parent and its consolidated subsidiaries for the period commencing at the end
of the previous fiscal year of Parent and ending with the end of such quarter,
duly certified (subject to year-end audit adjustments) by a Financial Officer
of Parent as having been prepared in accordance with GAAP, and certificates of
a Financial Officer of Parent&nbsp; (i) as to compliance with the terms of this
Agreement, (ii) setting forth in reasonable detail the then applicable Public
Debt Ratings and the Interest Coverage Ratio and the Leverage Ratio as of the
end of such fiscal quarter and the calculations necessary to demonstrate
compliance with Sections&nbsp;6.05 and 6.06 as of the end of such fiscal
quarter and (iii) stating whether any change in GAAP or in the application
thereof has occurred since the date of the last consolidated financial
statements of Parent and its consolidated subsidiaries referred to in Section
3.04(a) that materially affects the financial statements accompanying such
certificate and, if any such change has occurred, specifying the effect of such
change on the financial statements accompanying such certificate;</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(c)&nbsp; as soon as possible and in any event within five days after any
Responsible Officer becomes aware of the occurrence of a Default or an event,
development or circumstance that has had or could reasonably be expected to
have a Material Adverse Effect, in each case continuing on the date of such
statement, a statement of a Financial Officer of Parent or the Borrower setting
forth details of such Default, event, development or other circumstance
(including the anticipated effect thereof) and the action that Parent or the
Borrower has taken and proposes to take with respect thereto;</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(d)&nbsp; promptly after the sending thereof, copies of all reports that Parent
or the Borrower sends to any of the holders of any class of its outstanding
securities;</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(e)&nbsp; promptly after the commencement thereof, notice of all actions, suits,
investigations, litigation and proceedings before any Governmental Authority or
arbitrator affecting Parent or any Subsidiary of the type described in
Section&nbsp;3.05;</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(f)&nbsp; as soon as possible and in any event within five Business Days after
any change in either Public Debt Rating, a certificate of a Financial Officer
of Parent setting forth such Public Debt Rating;</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(g)&nbsp; concurrently with any financial statements delivered under clause (a)
above, an annual financial forecast for Parent and its consolidated
subsidiaries for the subsequent fiscal year (including a consolidated balance
sheet of Parent and its consolidated subsidiaries as of the end of such fiscal
year and consolidated statements of income and cash flows of Parent and its
consolidated subsidiaries for such fiscal year); and</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(h)&nbsp; such other information respecting the business, condition (financial
or otherwise), operations, performance, properties or prospects of Parent or
any Subsidiary as any Lender through either Administrative Agent may from time
to time reasonably request.</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in;text-indent:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Borrower and Parent also agree that promptly after any report or registration
statement, other than a registration statement on Form&nbsp;S&#8209;8 or any
successor form thereto, is filed by Parent or any Subsidiary with the
Securities and Exchange Commission or any national securities exchange a copy
thereof will be made available on Parent&#146;s website.</h4>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744210">SECTION 5.02.&nbsp; <u>Existence.</u>&nbsp;
Parent will, and will cause each of the Subsidiaries to, preserve and maintain,
its corporate existence, rights (charter and statutory), permits, licenses,
approvals, privileges and franchises, except, with respect to such rights,
permits, licenses, approvals, privileges and franchises, where the failure to
do so could not be reasonably expected to have a Material Adverse Effect; <u>provided</u>
that Parent and the Subsidiaries may consummate any merger or consolidation
permitted under Section&nbsp;6.03 and, <u>provided</u>, <u>further</u>, that,
unless required in order to comply with Section&nbsp;6.03, neither Parent nor
any Subsidiary shall be required to preserve or maintain (i)&nbsp;the corporate
existence of any Minor Subsidiary if the Board of Directors of the parent of
such Minor Subsidiary, or an executive officer of such parent to whom such
Board of Directors has delegated the requisite authority, shall determine that
the preservation and maintenance thereof is no longer desirable in the conduct
of the business of such parent and that the loss thereof is not disadvantageous
in any material respect to Parent, the Borrower, such parent, the Paying Agent,
the Issuing Banks or the Lenders or (ii)&nbsp;any right, permit, license,
approval, privilege or franchise if the Board of Directors of Parent or such
Subsidiary shall determine that the preservation thereof is no longer desirable
in the conduct of the business of Parent or such Subsidiary, as the case may
be, and that the loss thereof is not disadvantageous in any material respect to
Parent, such Subsidiary, the Paying Agent, the Issuing Banks or the Lenders.</a></h2>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744211">SECTION 5.03.&nbsp; <u>Payment
of Obligations.</u>&nbsp; Parent will, and will cause each of the Subsidiaries to,</a>
pay and discharge, before the same shall become delinquent, (a)&nbsp;all Taxes
imposed upon it or upon its property and (b)&nbsp;all lawful claims that, if
unpaid, might by law become a Lien upon its property; <u>provided</u> that
neither Parent nor any Subsidiary shall be required to pay or discharge any
such Tax or claim (i)&nbsp;that is being contested in good faith and by proper
proceedings and as to which appropriate reserves are being maintained, unless
and until any Lien resulting therefrom attaches to its property and becomes
enforceable against its other creditors and (ii)&nbsp;if such non-payments,
either individually or in the aggregate, could not be reasonably expected to
have a Material Adverse Effect.</h2>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744212">SECTION 5.04.&nbsp; <u>Maintenance
of Properties; Insurance.</u>&nbsp; </a>(a)&nbsp; Except where the failure to do so,
either individually or in the aggregate, could not be reasonably expected to
have a Material Adverse Effect, Parent will, and will cause each of the
Subsidiaries to, maintain and preserve all of its properties that are used or
useful in the conduct of its business in good working order and condition,
ordinary wear and tear excepted.</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; Parent will, and will cause each of the
Subsidiaries to, maintain insurance with responsible and reputable insurance
companies or associations in such amounts and covering such risks as is usually
carried by companies engaged in similar businesses and owning similar
properties in the same general areas in which Parent or such Subsidiary operates,
except where failure to maintain such insurance could not be reasonably
expected to have a Material Adverse Effect.</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744213">SECTION 5.05.&nbsp; <u>Books and
Records; Inspection Rights.</u>&nbsp; </a>(a)&nbsp; &nbsp;Parent will, and will cause each of
the Subsidiaries to, keep proper books of record and account in such detail as
is necessary to allow the delivery of the reports required by Section 5.01, in
which full and correct entries shall be made of all financial transactions and
the assets and business of Parent and its consolidated subsidiaries in
accordance with GAAP.</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; Parent will, and will cause each of the
Subsidiaries to, at any reasonable time and from time to time, upon reasonable
notice, permit any Agent or any of the Lenders or any agents or representatives
thereof, to examine the records and books of account of, and visit the
properties of, Parent or any Subsidiary and to discuss the affairs, finances
and accounts of Parent or any Subsidiary with any of their financial officers.</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744214">SECTION 5.06.&nbsp; <u>Compliance
with Laws.</u>&nbsp; Parent will, and will cause each of the Subsidiaries to comply,
in all material respects, with all applicable laws, rules, regulations and
orders (including ERISA and environmental laws), except, in any case, where the
failure so to comply, either individually or in the aggregate, could not be
reasonably expected to have a Material Adverse Effect.</a></h2>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744215">SECTION 5.07.&nbsp; <u>Use of
Proceeds and Letters of Credit.</u>&nbsp; The proceeds of the Loans will be used
only for working capital and general corporate purposes.&nbsp; No part of the
proceeds of any Loan will be used, whether directly or indirectly, for any
purpose that entails a violation of any of the Regulations of the Board,
including Regulations&nbsp;T, U and X.&nbsp; Letters of Credit will be issued only
for general corporate purposes.</a></h2>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744216">SECTION 5.08.&nbsp; <u>Additional
Subsidiaries.</u>&nbsp; </a>(a)&nbsp; If any additional Subsidiary Loan Party is formed
or acquired after the Effective Date then, the Borrower will promptly, but in
no event later than five Business Days after such formation or acquisition,
cause such Subsidiary Loan Party to execute and deliver a supplement to the
Guarantee Agreement thereby becoming a Guarantor in accordance with the terms
of the Guarantee Agreement.</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; If requested by either of the Administrative
Agents, the Borrower will provide to the Administrative Agents such evidence of
authority and legal opinions regarding any execution and delivery of a
supplement to the Guarantee Agreement by a Subsidiary Loan Party as provided
above, as either Administrative Agent shall reasonably request.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(c)&nbsp; Notwithstanding the foregoing, the requirements
of this Section 5.08 shall not apply following the Subsidiary Guarantee
Termination Date.</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744217">SECTION 5.09.&nbsp; <u>Corporate
Existence; Inventory Recordkeeping.</u>&nbsp; (a)&nbsp; Parent and the Borrower will, and
will cause each Subsidiary Loan Party to, maintain the corporate or limited
liability company, as applicable, existence of each Subsidiary Loan Party
(subject to the exceptions set forth in Section 5.02) and ensure that each
Subsidiary Loan Party observes all corporate or limited liability company
requirements, procedures, and formalities consistent with its status as a
validly existing corporation or limited liability company, as applicable.</a></h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;text-indent:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b)&nbsp; Parent and the
Borrower will maintain a system of inventory recordkeeping under which the
location and sales of inventory are tracked by individual store location
pursuant to which the inventory owned by each Subsidiary Loan Party may be
separately determined.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;text-indent:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c)&nbsp; Parent and the
Borrower will, or will cause each Subsidiary Loan Party to, maintain a
recordkeeping system pursuant to which the assets and liabilities of each
Subsidiary Loan Party may be separately determined in accordance with GAAP.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;text-indent:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (d)&nbsp; Notwithstanding the
foregoing, the requirements of this Section 5.09 shall not apply following the
Subsidiary Guarantee Termination Date.</h3>

<h1 style='mso-style-name:"Heading 1\,h1\,H1";margin-top:24.0pt;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;text-indent:0in;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;text-decoration:underline;margin-left:0in;text-indent:0in'>ARTICLE
VI<br>
<a name="_Toc295744218"><br>
Negative Covenants</a></h1>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>Until the Commitments have expired or
terminated and the principal of and interest on each Loan and all fees payable
hereunder have been paid in full and all Letters of Credit have expired or
terminated and all LC Disbursements shall have been reimbursed, each of Parent
and the Borrower covenants and agrees with the Lenders that:</p>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in;page-break-after:avoid'><a name="_Toc295744219">SECTION
6.01.&nbsp; <u>Subsidiary Indebtedness.</u>&nbsp; Parent will not permit any Subsidiary
(other than the Borrower) to create, assume or suffer to exist, any
Indebtedness, other than:</a></h2>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(a)&nbsp; Indebtedness owed to Parent or to a wholly owned Subsidiary; <u>provided</u>
that, prior to the Subsidiary Guarantee Termination Date, any such Indebtedness
owed by a Subsidiary Loan Party shall be subordinated to such Subsidiary Loan
Party&#146;s Guarantee of the Obligations on the terms set forth on Schedule&nbsp;B
to the Guarantee Agreement;</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(b)&nbsp; Indebtedness existing on the Effective Date (whether such Indebtedness
is Indebtedness of a subsidiary of Parent or a subsidiary of the Borrower) and
described on Schedule&nbsp;6.01 (the &#147;<u>Existing Indebtedness</u>&#148;), and any
Indebtedness extending the maturity of, or refunding or refinancing, in whole
or in part, the Existing Indebtedness; <u>provided</u> that the principal
amount of such Existing Indebtedness shall not be increased above the principal
amount thereof outstanding immediately prior to such extension, refunding or
refinancing, and the direct and contingent obligors therefor shall not be
changed as a result of, or in connection with, such extension, refunding or
refinancing;</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(c)&nbsp; endorsement of negotiable instruments for deposit or collection or
similar transactions in the ordinary course of business;</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(d)&nbsp; Indebtedness of any Person that becomes a Subsidiary after the date
hereof that is existing at the time such Person becomes a Subsidiary (other
than Indebtedness incurred solely in contemplation of such Person becoming a
Subsidiary) and any Indebtedness extending the maturity of, or refunding or
refinancing, such Indebtedness, in whole or in part; <u>provided</u> that the
principal amount of such Indebtedness shall not be increased above the
principal amount thereof outstanding immediately prior to such extension,
refunding or refinancing, and the direct and contingent obligors therefor shall
not be changed as a result of, or in connection with, such extension, refunding
or refinancing; and</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(e)&nbsp; other Indebtedness in an aggregate principal amount at any time
outstanding not to exceed 10.0% of Consolidated Net Worth (determined as of the
end of the most recent fiscal quarter of Parent for which financial statements
shall have been or were required to be delivered under Section 5.01).</h4>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744220">SECTION 6.02.&nbsp; <u>Liens.</u>&nbsp;
Parent will not, and will not permit any Subsidiary to, create, incur, assume
or suffer to exist any Lien on or with respect to any of its assets of any
character (including accounts) whether now owned or hereafter acquired, or
assign any accounts or other right to receive income, except:</a></h2>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(a)&nbsp; Liens created or existing under the Loan Documents; </h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(b)&nbsp; Permitted Encumbrances;</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(c)&nbsp; the Liens existing on the Effective Date and described on Schedule&nbsp;6.02
(whether such Liens are on the assets of Parent or any of its subsidiaries);</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(d)&nbsp; purchase money Liens upon or in real property or equipment acquired or
held in the ordinary course of business to secure the purchase price of such
property or equipment or to secure Indebtedness incurred solely for the purpose
of financing the acquisition, construction or improvement of any such property
or equipment to be subject to such Liens, or Liens existing on any such
property or equipment at the time of acquisition (other than any such Liens
created in contemplation of such acquisition that were not incurred to finance
the acquisition of such property or equipment), or extensions, renewals or
replacements of any of the foregoing for the same or a lesser amount; <u>provided</u>
that no such Lien shall extend to or cover any properties of any character
other than the real property or equipment being acquired, constructed or
improved (except that Liens incurred in connection with the construction or
improvement of real property may extend to additional real property immediately
contiguous to such property being constructed or improved) and no such
extension, renewal or replacement shall extend to or cover any such properties
not theretofore subject to the Lien being extended, renewed or replaced;</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(e)&nbsp; Liens arising in connection with Capital Lease Obligations; <u>provided</u>
that no such Lien shall extend to or cover any assets other than the assets
subject to the applicable capital leases;</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(f)&nbsp; Liens on property of a Person existing at the time such Person is
merged into or consolidated with Parent or any Subsidiary or becomes a
Subsidiary; <u>provided</u> that such Liens (other than replacement Liens
permitted under clause&nbsp;(j) below) were not created in contemplation of
such merger, consolidation or investment and do not extend to any assets other
than those of the Person merged into or consolidated with Parent or such
Subsidiary or acquired by the Parent or such Subsidiary; </h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(g)&nbsp; Liens securing Documentary LCs or Trade Letters of Credit; <u>provided</u>
that no such Lien shall extend to or cover any assets of Parent or any
Subsidiary other than the inventory (and bills of lading and other documents
related thereto) being financed by any such Documentary LCs or Trade Letter of
Credit, as the case may be;</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(h)&nbsp; Liens in respect of goods consigned to Parent or any of its
Subsidiaries in the ordinary course of business; <u>provided</u> that such
Liens are limited to the goods so consigned;</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(i)&nbsp; Liens (other than on inventory) securing Indebtedness incurred by
Parent or the Subsidiaries; <u>provided</u> that the sum of the aggregate
amount of such Indebtedness at any time outstanding shall not exceed
(i)&nbsp;$250,000,000 at any time prior to the occurrence of a Ratings Event or
(ii)&nbsp;&nbsp;$500,000,000 at all times following the occurrence of a Ratings
Event; and</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(j)&nbsp; the replacement, extension or renewal of any Lien permitted by
clause&nbsp;(c) or (f) above upon or in the same property theretofore subject
thereto or, in the case of Liens on real property and related personal property
of Parent or any of the Subsidiaries, upon or in substitute property of like
kind of Parent or such Subsidiary, as the case may be, determined in good faith
by the Board of Directors of Parent or such Subsidiary to be of the same or
lesser value than the property theretofore subject thereto, or the replacement,
extension or renewal (without increase in the amount or change in any direct or
contingent obligor) of the Indebtedness secured thereby.</h4>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744221">SECTION 6.03.&nbsp; <u>Fundamental
Changes; Conduct of Business.</u>&nbsp; </a>(a)&nbsp; Parent will not, and will not
permit the Borrower, any Subsidiary Loan Party or any other Material Subsidiary
to, merge or consolidate with or into any Person except that (i)&nbsp;any
Subsidiary may merge or consolidate with or into any other Subsidiary (provided
that, if the Borrower is a party to any such merger or consolidation, the
Borrower shall be the surviving entity and shall remain a direct, wholly owned
subsidiary of Parent), (ii)&nbsp;any Subsidiary may merge into Parent and
Parent may merge with any other Person, so long as in either case Parent is the
surviving corporation and (iii)&nbsp;in connection with any acquisition, any
Subsidiary may merge into or consolidate with any other Person or permit any
other Person to merge into or consolidate with it, so long as the Person
surviving such merger shall be a Subsidiary (provided that, if the Borrower is
a party to any such merger or consolidation, the Borrower shall be the
surviving entity and shall remain a direct, wholly owned subsidiary of Parent);
<u>provided</u> that (A)&nbsp;in each case, no Event of Default shall have
occurred and be continuing at the time of such proposed transaction or would
result therefrom and (B)&nbsp;notwithstanding any of the foregoing, prior to
the Subsidiary Guarantee Termination Date, a Subsidiary Loan Party shall not merge
or consolidate with Parent, the Borrower or any other Subsidiary that is not a
Subsidiary Loan Party.</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; Parent and the Borrower will not liquidate or
dissolve, and Parent will not, and will not permit any Subsidiary to sell,
transfer, lease or otherwise dispose of (in one transaction or in a series of
transactions) all or substantially all of the assets of Parent and the
Subsidiaries, taken as a whole (whether now owned or hereafter acquired).&nbsp;
Prior to the Subsidiary Guarantee Termination Date, the Borrower will not
permit any Subsidiary Loan Party to liquidate into Parent, the Borrower or any
other Subsidiary that is not a Subsidiary Loan Party.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(c)&nbsp; Parent will not, and will not permit any
Subsidiary to, engage to any material extent in any business other than businesses
of the type conducted by Parent and its subsidiaries on the date of execution
of this Agreement and businesses reasonably related thereto.</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744222">SECTION 6.04.&nbsp; <u>Sale and
Leaseback Transactions.</u>&nbsp; Parent will not, and will not permit any
Subsidiary to, enter into any arrangement, directly or indirectly, whereby it
shall sell or transfer any property, real or personal, used or useful in its
business, whether now owned or hereinafter acquired, and thereafter rent or
lease such property or other property that it intends to use for substantially
the same purpose or purposes as the property sold or transferred, except for
(a) any such sale of any fixed or capital assets that is made for cash
consideration in an amount not less than the cost of such fixed or capital
asset and is consummated within 90 days after Parent or such Subsidiary
acquires or completes the construction of such fixed or capital asset and (b)
pursuant to Economic Development Transactions and (c) any such sale of any
fixed or capital assets for fair market value; <u>provided</u> that the fair
market value of all such assets sold in reliance upon this clause&nbsp;(c) plus
the aggregate amount of Indebtedness at any time outstanding secured by Liens
in reliance on Section&nbsp;6.02(i) shall not exceed 12.5% of Consolidated Net
Tangible Assets, determined as of the date of any such sale.</a></h2>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744223">SECTION 6.05.&nbsp; <u>Leverage
Ratio.</u>&nbsp; Parent will not permit the Leverage Ratio as of the last day of any
Measurement Period to exceed 3.75 to 1.00.</a></h2>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744224">SECTION 6.06.&nbsp; <u>Interest
Coverage Ratio.</u>&nbsp; Parent will not permit the Interest Coverage Ratio as of
the last day of any Measurement Period to be less than 3.25 to 1.00.</a></h2>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744225">SECTION 6.07.&nbsp; <u>Subsidiary
Loan Parties.</u>&nbsp; </a>(a)&nbsp; Parent and the Borrower will not permit the
Inventory Ratio as of the last day of any Measurement Period to be less than
0.35 to 1.00.</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; Parent and the Borrower will not permit any
Subsidiary Loan Party to sell, transfer, lease or otherwise dispose of any real
property owned by it to Parent, the Borrower or any other Subsidiary that is
not a Subsidiary Loan Party.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(c)&nbsp; Parent and the Borrower will not permit any
Subsidiary Loan Party to sell, transfer or otherwise dispose of inventory owned
by it to Parent, the Borrower or any other Subsidiary that is not a Subsidiary
Loan Party, except in the ordinary course of business consistent with past
practice.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(d)&nbsp; Notwithstanding the foregoing, the
requirements of this Section&nbsp;6.07 shall not apply following the Subsidiary
Guarantee Termination Date.</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744226">SECTION 6.08.&nbsp; <u>Restricted
Agreements.</u>&nbsp; </a>(a)&nbsp; N<a name="OLE_LINK1">either Parent nor the Borrower
will, nor will they permit any Subsidiary Loan Party to, directly or
indirectly, enter into, incur or permit to exist any agreement or other
arrangement that prohibits, restricts or imposes any condition upon the ability
of Parent, the Borrower or any other Loan Party to create, incur or permit to
exist any Lien upon any of its property or assets to secure the Obligations (or
any credit facility that refinances or replaces this Agreement); <u>provided </u>that
(a)&nbsp;the foregoing shall not apply to restrictions and conditions imposed
by (i)&nbsp;law or (ii)&nbsp;any Loan Document, (b)&nbsp;the foregoing shall
not apply to restrictions and conditions existing on the Effective Date
contained in any of the instruments, indentures and other agreements identified
on Schedule&nbsp;6.08 or any extension, renewal, supplement, amendment or other
modification of any thereof or any additional such instrument, indenture or
other agreement so long as, in each case, any such prohibition, restriction or
condition contained therein is not more restrictive in any material respect
than the prohibitions, restrictions and conditions contained in the
instruments, indentures and other agreements identified on Schedule 6.08 as in
effect on the Effective Date (<u>provided</u> that the foregoing shall not
permit the restrictions and conditions contained in the Bloomingdale&#146;s Lease to
be in any other instrument, indenture or agreement), (c)&nbsp;the foregoing
shall not apply to customary restrictions and conditions contained in
agreements relating to the sale of a Subsidiary Loan Party or any assets pending
such sale, provided that such restrictions and conditions apply only to the
Subsidiary Loan Party or assets that is or are to be sold and such sale is
permitted hereunder, (d)&nbsp;the foregoing shall not apply to restrictions or
conditions imposed by any agreement relating to secured Indebtedness permitted
by clause&nbsp;(d) or (g) of Section&nbsp;6.02 if such restrictions or
conditions apply only to the property or assets securing such Indebtedness and
(e)&nbsp;the foregoing shall not apply to customary provisions in leases restricting
the assignment thereof.</a></h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; Notwithstanding the foregoing, the
requirements of this Section&nbsp;6.08 shall not apply following the Subsidiary
Guarantee Termination Date.</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744227">SECTION 6.09.&nbsp; <u>Bloomingdale&#146;s.</u></a>&nbsp;
</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(a)&nbsp; Parent and the Borrower will not permit
Bloomingdale&#146;s or any of its subsidiaries to create, assume or suffer to exist
any &#147;Guaranties&#148; or &#147;Debt&#148;, or make or hold any &#147;Investments&#148; other than
&#147;Permitted Investments&#148; (as each such quoted term is defined in the
Bloomingdale&#146;s Lease), other than those existing as of December 18, 2008, and
Guarantees made under the Guarantee Agreement, if the effect of such
&#147;Guaranties&#148;, &#147;Debt&#148; or &#147;Investments&#148; is to reduce the maximum liability of the
Bloomingdale&#146;s Parties under the Guarantee Agreement; <u>provided</u> that,
notwithstanding the foregoing, additional such &#147;Guaranties&#148;, &#147;Debt&#148; and
&#147;Investments&#148; shall be permitted in an aggregate amount that would not at any
time result in the maximum liability of the Bloomingdale&#146;s Parties under the
Guarantee Agreement being more than $125,000,000 less than such maximum
liability would have been at such time had no such additional &#147;Guaranties&#148;,
&#147;Debt&#148; or &#147;Investments&#148; been incurred or made.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; Parent and the Borrower will not permit any
Subsidiary Loan Party that is not a Bloomingdale&#146;s Party (i) to sell, transfer
or otherwise dispose of any real property owned by it to Bloomingdale&#146;s or any
of its subsidiaries, (ii) to merge or consolidate with or into Bloomingdale&#146;s
or any of its subsidiaries or (iii) to become a subsidiary of Bloomingdale&#146;s,
in each case if, after giving effect thereto, the maximum liability of the
Bloomingdale&#146;s Parties under the Guarantee Agreement would be reduced by more
than 10% ; <u>provided</u> that the foregoing restrictions set forth in clauses
(ii) and (iii) shall not apply to (A) Bloomingdale&#146;s By Mail Ltd., a New York
corporation, (B) Bloomingdale&#146;s, LLC, an Ohio limited liability company, (C)
Bloomingdale&#146;s The Outlet Store, Inc., an Ohio corporation or (D) the assets
comprising Bloomingdales.com, a division of Bloomingdale&#146;s.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(c)&nbsp; Parent and the Borrower will not permit any
amendment or modification to the Bloomingdale&#146;s Lease that would have the
effect of reducing the maximum liability of the Bloomingdale&#146;s Parties under
the Guarantee Agreement.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(d)&nbsp; Notwithstanding the foregoing, the requirements
of this Section&nbsp;6.09 shall not apply following the Subsidiary Guarantee
Termination Date.</h3>

<h1 style='mso-style-name:"Heading 1\,h1\,H1";margin-top:24.0pt;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;text-indent:0in;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;text-decoration:underline;margin-left:0in;text-indent:0in'>ARTICLE
VII<br>
<a name="_Toc295744228"><br>
Events of Default</a></h1>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>If any of the following events (&#147;<u>Events of
Default</u>&#148;) shall occur:</p>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(a)&nbsp; the Borrower shall fail to pay any principal of any Loan when and as
the same shall become due and payable, whether at the due date thereof or at a
date fixed for prepayment thereof or otherwise;</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(b)&nbsp; the Borrower or Parent shall fail to pay any interest on any Loan or
any fee or any other amount (other than an amount referred to in
clause&nbsp;(a) of this Article) payable under this Agreement, when and as the
same shall become due and payable, and such failure shall continue unremedied
for a period of three Business Days;</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(c)&nbsp; any representation or warranty made or deemed made by or on behalf of
any Loan Party in or in connection with any Loan Document shall prove to have
been incorrect in any material respect when made or deemed made;</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(d)&nbsp; either Parent or the Borrower shall fail to observe or perform any
covenant, condition or agreement contained in Section&nbsp;5.01(c) or (e), 5.02
(with respect to Parent&#146;s or the Borrower&#146;s existence) or 5.07 or in
Article&nbsp;VI;</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(e)&nbsp; any Loan Party shall fail to observe or perform any covenant,
condition or agreement contained in any Loan Document (other than those specified
in clause&nbsp;(a), (b) or (d) of this Article), and such failure shall
continue unremedied for a period of 30&nbsp;days after notice thereof from the
Paying Agent to Parent or the Borrower (which notice will be given at the
request of any Lender);</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(f)&nbsp; Parent, the Borrower or any other Subsidiary shall&nbsp;fail to make
any payment (whether of principal or interest and regardless of amount) in
respect of any Material Indebtedness, when and as the same shall become due and
payable (after giving effect to any applicable grace periods);</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(g)&nbsp; any event or condition occurs that results in any Material
Indebtedness becoming due prior to its scheduled maturity or that enables or
permits (after giving effect to any applicable grace periods) the holder or
holders of any Material Indebtedness or any trustee or agent on its or their
behalf to cause any Material Indebtedness to become due, or to require the
prepayment, repurchase, redemption or defeasance thereof, prior to its
scheduled maturity; <u>provided</u> that this clause&nbsp;(g) shall not apply
to secured Indebtedness that becomes due as a result of the voluntary sale or
transfer of the property or assets securing such Indebtedness;</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(h)&nbsp; an involuntary proceeding shall be commenced or an involuntary
petition shall be filed seeking (i)&nbsp;liquidation, reorganization or other
relief in respect of Parent, the Borrower or any other Subsidiary or its debts,
or of a substantial part of its assets, under any Federal, state or foreign
bankruptcy, insolvency, receivership or similar law now or hereafter in effect
or (ii)&nbsp;the appointment of a receiver, trustee, custodian, sequestrator,
conservator or similar official for Parent, the Borrower or any other
Subsidiary or for a substantial part of its assets, and, in any such case, such
proceeding or petition shall continue undismissed for 60&nbsp;days or an order
or decree approving or ordering any of the foregoing shall be entered;</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(i)&nbsp; Parent, the Borrower or any other Subsidiary shall
(i)&nbsp;voluntarily commence any proceeding or file any petition seeking
liquidation, reorganization or other relief under any Federal, state or foreign
bankruptcy, insolvency, receivership or similar law now or hereafter in effect,
(ii)&nbsp;consent to the institution of, or fail to contest in a timely and
appropriate manner, any proceeding or petition described in clause&nbsp;(h) of
this Article, (iii)&nbsp;apply for or consent to the appointment of a receiver,
trustee, custodian, sequestrator, conservator or similar official for Parent,
the Borrower or any other Subsidiary or for a substantial part of its assets,
(iv)&nbsp;file an answer admitting the material allegations of a petition filed
against it in any such proceeding, (v)&nbsp;make a general assignment for the
benefit of creditors or (vi)&nbsp;take any action for the purpose of effecting
any of the foregoing;</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(j)&nbsp; Parent, the Borrower or any other Subsidiary shall become unable,
admit in writing its inability or fail generally to pay its debts as they
become due;</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(k)&nbsp; one or more judgments for the payment of money in an aggregate amount
in excess of $150,000,000 shall be rendered against Parent, the Borrower, any
other Subsidiary or any combination thereof and the same shall remain
undischarged for a period of 30&nbsp;consecutive days during which execution
shall not be effectively stayed, or any action shall be legally taken by a
judgment creditor to attach or levy upon any assets of Parent, the Borrower or
any other Subsidiary to enforce any such judgment; <u>provided</u> that any
such judgments shall only result in an Event of Default under this clause (k)
if and to the extent that the aggregate amount of such judgments not covered by
a valid and binding policy of insurance between the defendant and the insurer
covering the payment thereof exceeds $150,000,000 so long as such insurer,
which shall be rated at least &#147;A&#148; by A.M. Best Company, has been notified of,
and has not disputed the claim made for payment of, the amount of such
judgments;</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(l)&nbsp; an ERISA Event shall have occurred that, when taken together with all
other ERISA Events that have occurred, could reasonably be expected to result
in liability of Parent, the Borrower or any other Subsidiary in an aggregate
amount exceeding $150,000,000;</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(m)&nbsp; any Guarantor&#146;s Guarantee of the Obligations purported to be created
under the Guarantee Agreement shall cease to be, or shall be asserted by any
Loan Party not to be, in full force and effect (other than in accordance with
the express terms of any Loan Document); or</h4>

<h4 style='mso-style-name:"Heading 4\,h4\,H4";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(n)&nbsp; a Change in Control shall occur;</h4>

<p style='mso-style-name:"Body Text No Indent";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>then, and in every such event (other than an event
with respect to the Borrower described in clause&nbsp;(h) or (i) of this
Article), and at any time thereafter during the continuance of such event, the
Paying Agent may, and at the request of the Required Lenders shall, by notice
to Parent or the Borrower, take either or both of the following actions, at the
same or different times:&nbsp;&nbsp;(i)&nbsp;terminate the Commitments, and
thereupon the Commitments shall terminate immediately, and (ii)&nbsp;declare
the Loans then outstanding to be due and payable in whole (or in part, in which
case any principal not so declared to be due and payable may thereafter be
declared to be due and payable), and thereupon the principal of the Loans so
declared to be due and payable, together with accrued interest thereon and all
fees and other obligations of the Loan Parties accrued hereunder, shall become
due and payable immediately, without presentment, demand, protest or other
notice of any kind, all of which are hereby waived by the Loan Parties; and in
case of any event with respect to the Borrower described in clause&nbsp;(h) or
(i) of this Article, the Commitments shall automatically terminate and the
principal of the Loans then outstanding, together with accrued interest thereon
and all fees and other obligations of the Loan Parties accrued hereunder, shall
automatically become due and payable, without presentment, demand, protest or
other notice of any kind, all of which are hereby waived by the Loan Parties.</p>

<h1 style='mso-style-name:"Heading 1\,h1\,H1";margin-top:24.0pt;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;text-indent:0in;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;text-decoration:underline;margin-left:0in;text-indent:0in'>ARTICLE
VIII<br>
<a name="_Toc295744229"><br>
The Agents</a></h1>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>Each of the Lenders and the Issuing Banks
hereby irrevocably appoints each Agent as its agent and authorizes each Agent
to take such actions on its behalf and to exercise such powers as are delegated
to such Agent by the terms of the Loan Documents, together with such actions
and powers as are reasonably incidental thereto.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>Each bank serving as an Agent hereunder shall
have the same rights and powers in its capacity as a Lender or an Issuing Bank
as any other Lender or Issuing Bank and may exercise the same as though it were
not an Agent, and such bank and its Affiliates may accept deposits from, lend
money to, act as the financial advisor or in any other advisory capacity for
and generally engage in any kind of business with Parent, the Borrower or any
other Subsidiary or other Affiliate thereof as if it were not an Agent
hereunder and without any duty to account therefor to the Lenders.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>No Agent shall have any duties or obligations
except those expressly set forth in the Loan Documents.&nbsp; Without limiting the
generality of the foregoing, (a)&nbsp;no Agent shall be subject to any
fiduciary or other implied duties, regardless of whether a Default has occurred
and is continuing, (b)&nbsp;no Agent shall have any duty to take any
discretionary action or exercise any discretionary powers, except discretionary
rights and powers expressly contemplated by the Loan Documents that such Agent
is required to exercise in writing as directed by the Required Lenders (or such
other number or percentage of the Lenders as shall be necessary under the
circumstances as provided in Section&nbsp;9.02); <u>provided</u> that no Agent
shall be required to take any action that, in its opinion, could expose such
Agent to liability or be contrary to any Loan Document or applicable law, and
(c)&nbsp;except as expressly set forth in the Loan Documents, no Agent shall
have any duty to disclose, and shall not be liable for the failure to disclose,
any information relating to Parent, the Borrower, any of the other Subsidiaries
or any other Affiliate of any of the foregoing that is communicated to or
obtained by the bank serving as an Agent or any of its Affiliates in any
capacity.&nbsp; No Agent shall be liable for any action taken or not taken by it
with the consent or at the request of the Required Lenders (or such other
number or percentage of the Lenders as shall be necessary under the
circumstances as provided in Section&nbsp;9.02) or in the absence of its own
gross negligence or wilful misconduct, as determined by a court of competent
jurisdiction by a final and non-appealable judgment.&nbsp; No Agent shall be deemed
to have knowledge of any Default unless and until written notice thereof is
given such Agent by Parent, the Borrower or a Lender, and no Agent shall be
responsible for or have any duty to ascertain or inquire into (i)&nbsp;any
statement, warranty or representation made in or in connection with any Loan
Document, (ii)&nbsp;the contents of any certificate, report or other document
delivered hereunder or in connection herewith, (iii)&nbsp;the performance or
observance of any of the covenants, agreements or other terms or conditions set
forth in any Loan Document or the occurrence of any Default, (iv)&nbsp;the
sufficiency, validity, enforceability, effectiveness or genuineness of any Loan
Document or any other agreement, instrument or document, or (v)&nbsp;the
satisfaction of any condition set forth in Article&nbsp;IV or elsewhere in any
Loan Document, other than to confirm receipt of items expressly required to be
delivered to such Agent.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>Each Agent shall be entitled to rely, and shall
not incur any liability for relying, upon any notice, request, certificate,
consent, statement, instrument, document or other writing (including any electronic
message, Internet or intranet website posting or other distribution) believed
by it to be genuine and to have been signed, sent or otherwise authenticated by
the proper Person (whether or not such Person in fact meets the requirements
set forth in the Loan Documents for being the signatory, sender or
authenticator thereof).&nbsp; Each Agent also may rely, and shall not incur any
liability for relying, upon any statement made to it orally or by telephone and
believed by it to be made by the proper Person (whether or not such Person in
fact meets the requirements in the Loan Documents for being the signatory,
sender or authenticator thereof), and may act upon any such statement prior to
receipt of written confirmation thereof.&nbsp; Each Agent may consult with legal
counsel (who may be counsel for Parent or the Borrower), independent
accountants and other experts selected by it, and shall not be liable for any
action taken or not taken by it in accordance with the advice of any such
counsel, accountants or experts.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>Each Agent may perform any and all its duties
and exercise its rights and powers hereunder or under any other Loan Document
by or through any one or more sub-agents appointed by such Agent.&nbsp; Each Agent
and any such sub-agent may perform any and all its duties and exercise its
rights and powers through their respective Related Parties.&nbsp; The exculpatory
provisions of this Article shall apply to any such sub-agent and to the Related
Parties of each Agent and any such sub-agent, and shall apply to their respective
activities in connection with the syndication of the credit facilities provided
for herein as well as activities as such Agent.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>Subject to the appointment and acceptance of a
successor Paying Agent or Administrative Agent as provided in this paragraph,
the Paying Agent or an Administrative Agent may resign at any time by notifying
the Lenders, the Issuing Banks and Parent.&nbsp; Upon any such resignation, the
Required Lenders shall have the right with the consent of Parent (not to be
unreasonably withheld), to appoint a successor.&nbsp; If no successor shall have
been so appointed by the Required Lenders and shall have accepted such
appointment within 30&nbsp;days after the retiring Paying Agent or
Administrative Agent, as the case may be, gives notice of its resignation, then
the retiring Paying Agent or Administrative Agent may, on behalf of the Lenders
and the Issuing Banks, appoint a successor Paying Agent or Administrative
Agent, as applicable, which shall be a bank with an office in New&nbsp;York,
New&nbsp;York, or an Affiliate of any such bank.&nbsp; Upon the acceptance of its
appointment as Paying Agent or Administrative Agent hereunder by a successor,
such successor shall succeed to and become vested with all the rights, powers,
privileges and duties of the retiring Paying Agent or Administrative Agent, as
applicable, and the retiring Paying Agent or Administrative Agent shall be
discharged from its duties and obligations hereunder.&nbsp; The fees payable by
either Parent or the Borrower to a successor Paying Agent or Administrative
Agent shall be the same as those payable to its predecessor unless otherwise
agreed between such Loan Party and such successor.&nbsp; After the Paying Agent&#146;s or
Administrative Agent&#146;s resignation hereunder, the provisions of this Article
and Section&nbsp;9.03 shall continue in effect for the benefit of such retiring
Paying Agent or Administrative Agent, its sub-agents and their respective
Related Parties in respect of any actions taken or omitted to be taken by any
of them while it was acting as Paying Agent or Administrative Agent.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>Each Lender and Issuing Bank acknowledges that
it has, independently and without reliance upon any Agent or any other Lender
and based on such documents and information as it has deemed appropriate, made
its own credit analysis and decision to enter into this Agreement.&nbsp; Each Lender
and Issuing Bank also acknowledges that it will, independently and without
reliance upon any Agent or any other Lender or Issuing Bank and based on such
documents and information as it shall from time to time deem appropriate,
continue to make its own decisions in taking or not taking action under or
based upon this Agreement, any other Loan Document or related agreement or any
document furnished hereunder or thereunder.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>Each Lender, by delivering its signature page
to this Agreement and funding its Loans on the Effective Date, or delivering
its signature page to an Assignment and Assumption pursuant to which it shall
become a Lender hereunder, shall be deemed to have acknowledged receipt of, and
consented to and approved, each Loan Document and each other document required
to be delivered to, or be approved by or satisfactory to, the Agents or the
Lenders on the Effective Date.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>Notwithstanding anything herein to the
contrary, no Person named on the cover page of this Agreement as a
Co-Syndication Agent shall have any duties or obligations under this Agreement
or any other Loan Document (except in its capacity, as applicable, as a Lender
or an Issuing Bank), but all Persons shall have the benefit of the indemnities
provided for hereunder.</p>

<p style='mso-style-name:"Body Text First Indent\,A_RecoveredStyle 289";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";'>The provisions of this Article are solely for
the benefit of the Agents, the Lenders and the Issuing Banks, and neither the
Borrower nor any other Loan Party shall have any rights as a third party
beneficiary of any such provisions.</p>

<h1 style='mso-style-name:"Heading 1\,h1\,H1";margin-top:24.0pt;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-align:center;text-indent:0in;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;text-decoration:underline;margin-left:0in;text-indent:0in'>ARTICLE
IX<br>
<a name="_Toc295744230"><br>
Miscellaneous</a></h1>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744231">SECTION 9.01.&nbsp; <u>Notices.</u>&nbsp;
</a>(a)&nbsp; Except in the case of notices and other communications expressly
permitted to be given by telephone (and subject to paragraph (b) below), all
notices and other communications provided for herein shall be in writing and
shall be delivered by hand or overnight courier service, mailed by certified or
registered mail or sent by telecopy, as follows:</h2>

<h5 style='mso-style-name:"Heading 5\,h5\,H5";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(i) if to Parent or the Borrower, to it at Macy&#146;s, Inc., 7 West&nbsp; Seventh
Street, Cincinnati, Ohio 45202, Attention of the Chief Financial Officer, with
a copy to the General Counsel (other than in the case of any notice or
communication provided for under Article II) (Telecopy
No.&nbsp;(513)&nbsp;579-7462);</h5>

<h5 style='mso-style-name:"Heading 5\,h5\,H5";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(ii) if to the Paying Agent or JPMorgan Chase Bank, N.A. as Administrative
Agent, Issuing Bank or Swingline Lender, to JPMorgan Chase Bank, N.A., Loan and
Agency Services Group, 1111 Fanin Street, Houston, Texas 77002, Attention of
Ryan Mader (Telecopy No. (713) 750-2782), with a copy to JPMorgan Chase Bank,
N.A., 383 Madison Avenue, New&nbsp;York, New York&nbsp;10179, Attention of
Sarah Freedman (Telecopy No. (212) 270-6637);</h5>

<h5 style='mso-style-name:"Heading 5\,h5\,H5";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(iii) if to Bank of America, N.A., as Administrative Agent, Issuing Bank or
Swingline Lender, to it at 2001 Clayton Road, Building B, 2<sup>nd</sup> Floor,
CA4-704-02-25, Concord, California 94520.&nbsp; Attention of Faizan Hafeez (Telecopy
No. (866) 540-7550); and</h5>

<h5 style='mso-style-name:"Heading 5\,h5\,H5";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>(iv) if to any other Lender, Swingline Lender or Issuing Bank, to it at its
address (or telecopy number) set forth in its Administrative Questionnaire.</h5>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; Notices and other communications to the Lenders
hereunder may be delivered or furnished by electronic communications pursuant
to procedures approved by the Paying Agent; <u>provided</u> that the foregoing
shall not apply to notices pursuant to Article&nbsp;II unless otherwise agreed
by the Paying Agent and the applicable Lender.&nbsp; The Paying Agent, Parent or the
Borrower may, in its discretion, agree to accept notices and other
communications to it hereunder by electronic communications pursuant to
procedures approved by it; <u>provided</u> that approval of such procedures may
be limited to particular notices or communications.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(c)&nbsp; Any party hereto may change its address or
telecopy number for notices and other communications hereunder by notice to the
other parties hereto.&nbsp; All notices and other communications given to any party
hereto in accordance with the provisions of this Agreement shall be deemed to
have been given on the date of receipt.</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744232">SECTION 9.02.&nbsp; <u>Waivers;
Amendments.</u>&nbsp; </a>(a)&nbsp; No failure or delay by the Paying Agent, any Issuing
Bank or any Lender in exercising any right or power hereunder or under any
other Loan Document shall operate as a waiver thereof, nor shall any single or
partial exercise of any such right or power, or any abandonment or
discontinuance of steps to enforce such a right or power, preclude any other or
further exercise thereof or the exercise of any other right or power.&nbsp; The
rights and remedies of the Paying Agent, the Issuing Banks and the Lenders
hereunder and under the other Loan Documents are cumulative and are not
exclusive of any rights or remedies that they would otherwise have.&nbsp; No waiver
of any provision of any Loan Document or consent to any departure by any Loan
Party therefrom shall in any event be effective unless the same shall be
permitted by paragraph&nbsp;(b) of this Section, and then such waiver or
consent shall be effective only in the specific instance and for the purpose
for which given.&nbsp; Without limiting the generality of the foregoing, the making
of a Loan or issuance of a Letter of Credit shall not be construed as a waiver
of any Default, regardless of whether the Paying Agent, any Lender or any
Issuing Bank may have had notice or knowledge of such Default at the time.</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; Neither this Agreement nor any other Loan
Document nor any provision hereof or thereof may be waived, amended or modified
except, in the case of this Agreement, pursuant to an agreement or agreements
in writing entered into by Parent, the Borrower and the Required Lenders or by
Parent, the Borrower and the Paying Agent with the consent of the Required
Lenders or, in the case of any other Loan Document, pursuant to an agreement or
agreements in writing entered into by the Paying Agent and the Loan Party or
Loan Parties that are parties thereto with the consent of the Required Lenders;
<u>provided</u> that no such agreement shall (i)&nbsp;except as contemplated by
Section 2.20, increase the Commitment of any Lender without the written consent
of such Lender, (ii)&nbsp;reduce the principal amount of any Loan or LC
Disbursement or reduce the rate of interest thereon, or reduce any fees payable
hereunder, without the written consent of each Lender affected thereby,
(iii)&nbsp;postpone the scheduled date of payment of the principal amount of
any Loan or LC Disbursement, or any interest thereon, or any fees payable
hereunder, or reduce the amount of, waive or excuse any such payment, or
postpone the scheduled date of expiration of any Commitment, without the
written consent of each Lender affected thereby, (iv)&nbsp;change
Section&nbsp;2.18(b) or (c) in a manner that would alter the pro rata sharing
of payments required thereby, without the written consent of each Lender,
(v)&nbsp;change any of the provisions of this Section or the definition of
&#147;Required Lenders&#148; or any other provision of any Loan Document specifying the
number or percentage of Lenders required to waive, amend or modify any rights
hereunder or make any determination or grant any consent hereunder, without the
written consent of each Lender or (vi)&nbsp;release Parent from its Guarantee
under the Guarantee Agreement or limit its liability thereunder, without the
written consent of each Lender; <u>provided further</u> that no such agreement
shall amend, modify or otherwise affect the rights or duties of any Agent, an
Issuing Bank or a Swingline Lender hereunder without the prior written consent
of such Agent, such Issuing Bank or such Swingline Lender, as the case may be.&nbsp;
Notwithstanding the foregoing, (A)&nbsp;no consent with respect to any
amendment, waiver or other modification of this Agreement or any other Loan
Document shall be required of (1)&nbsp;any Defaulting Lender, except with
respect to any amendment, waiver or other modification referred to in clause
(i), (ii) or (iii) of the first proviso of this paragraph and then only in the
event such Defaulting Lender shall be affected by such amendment, waiver or other
modification or (2)&nbsp;any Lender that receives payment in full of the
principal of and interest accrued on each Loan made by, and all other amounts
owing to, such Lender or accrued for the account of such Lender under this
Agreement and the other Loan Documents at the time such amendment, waiver or
other modification becomes effective and whose Commitments terminate by the
terms and upon the effectiveness of such amendment, waiver or other
modification, (B)&nbsp;any provision of this Agreement or any other Loan Document
may be amended by an agreement in writing entered into by the Borrower and the
Administrative Agent to cure any ambiguity, omission, defect or inconsistency
so long as, in each case, the Lenders shall have received at least five
Business Days&#146; prior written notice thereof and the Administrative Agent shall
not have received, within five Business Days of the date of such notice to the
Lenders, a written notice from (x) the Required Lenders stating that the
Required Lenders object to such amendment, (y) any Swingline Lender affected
thereby stating that it objects to such amendment or (z) any Issuing Bank
affected thereby stating that it objects to such amendment, and (C)&nbsp;this
Agreement may be amended without the consent of the Required Lenders to increase
the Total Commitments pursuant to Section 2.20.</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744233">SECTION 9.03.&nbsp; <u>Expenses;
Indemnity; Damage Waiver.</u>&nbsp; </a>(a)&nbsp; The Borrower shall pay (i)&nbsp;all
reasonable out-of-pocket expenses incurred by each Agent, each Co-Syndication
Agent and their respective Affiliates (including the reasonable fees, charges
and disbursements of one outside counsel (and any local or special counsel
where appropriate) and, in connection with a conflict, one additional counsel
per affected party) for the Agents and Co-Syndication Agents, collectively, in
connection with the syndication of the credit facilities provided for herein,
the preparation and administration of the Loan Documents or any amendments,
modifications or waivers of the provisions thereof (whether or not the
transactions contemplated hereby or thereby shall be consummated), and
(ii)&nbsp;all out-of-pocket expenses incurred by any Agent, any Co-Syndication
Agent, any Issuing Bank or any Lender, including the fees, charges and
disbursements of any counsel for any Agent, any Co-Syndication Agent, any
Issuing Bank or any Lender, in connection with the enforcement or protection of
its rights in connection with the Loan Documents, including its rights under
this Section, or in connection with the Loans made or Letters of Credit issued
hereunder, including all such out-of-pocket expenses incurred during any
workout, restructuring or negotiations in respect of such Loans or Letters of
Credit.</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; The Borrower shall indemnify each Agent, each
Co-Syndication Agent, each Issuing Bank and each Lender, and each Related Party
of any of the foregoing Persons (each such Person being called an &#147;<u>Indemnitee</u>&#148;)
against, and hold each Indemnitee harmless from, any and all losses, claims,
damages, liabilities and related expenses, including the fees, charges and
disbursements of any counsel for any Indemnitee, incurred by or asserted
against any Indemnitee arising out of, in connection with, or as a result of
(i)&nbsp;the execution or delivery of any Loan Document or any agreement or
instrument contemplated hereby, the performance by the parties to the Loan
Documents of their respective obligations thereunder or the consummation of the
Transactions or any other transactions contemplated hereby, (ii)&nbsp;any Loan
or Letter of Credit or the use of the proceeds therefrom (including any refusal
by an Issuing Bank to honor a demand for payment under a Letter of Credit if
the documents presented in connection with such demand do not strictly comply
with the terms of such Letter of Credit), or (iii)&nbsp;any actual or prospective
claim, litigation, investigation or proceeding relating to any of the
foregoing, whether based on contract, tort or any other theory and regardless
of whether any Indemnitee is a party thereto and regardless of whether such
matter is initiated by a third party, Parent, the Borrower or any Affiliate of
Parent or the Borrower; <u>provided</u> that such indemnity shall not, as to
any Indemnitee, be available to the extent that such losses, claims, damages,
liabilities or related expenses are determined by a court of competent
jurisdiction by final and nonappealable judgment to have resulted from the
gross negligence or wilful misconduct of such Indemnitee.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(c)&nbsp; To the extent that the Borrower fails to pay
any amount required to be paid by it to an Agent, an Issuing Bank or a Swingline
Lender under paragraph&nbsp;(a) or (b) of this Section, each Lender severally
agrees to pay to such Agent, such Issuing Bank or such Swingline Lender, as the
case may be, such Lender&#146;s Applicable Percentage (determined as of the time
that the applicable unreimbursed expense or indemnity payment is sought) of
such unpaid amount; <u>provided</u> that (i) the unreimbursed expense or
indemnified loss, claim, damage, liability or related expense, as the case may
be, was incurred by or asserted against such Agent, such Issuing Bank or such
Swingline Lender in its capacity as such and (ii) if an Issuing Bank separately
agrees, as contemplated by the last sentence of Section 2.06(f), to be subject
to a standard of care different than that set forth therein, no Lender shall be
liable to such Issuing Bank hereunder for any greater amount than would have
been due if such Issuing Bank had not agreed to such different standard of
care.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(d)&nbsp; To the extent permitted by applicable law,
neither Parent nor the Borrower shall assert, and each hereby waives, any claim
against any Indemnitee, on any theory of liability, for special, indirect,
consequential or punitive damages (as opposed to direct or actual damages)
arising out of, in connection with, or as a result of, any Loan Document or any
agreement or instrument contemplated thereby, the Transactions or the other
transactions contemplated hereby, any Loan or Letter of Credit or the use of
the proceeds thereof.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(e)&nbsp; All amounts due under this Section shall be
payable promptly after written demand therefor.</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744234">SECTION 9.04.&nbsp; <u>Successors
and Assigns.</u>&nbsp; </a>(a)&nbsp; The provisions of this Agreement shall be binding
upon and inure to the benefit of the parties hereto and their respective
successors and assigns permitted hereby (including any Affiliate of an Issuing
Bank that issues any Letter of Credit), except that (i)&nbsp;neither Parent nor
the Borrower may assign or otherwise transfer any of its rights or obligations
hereunder without the prior written consent of each Lender (and any attempted
assignment or transfer by Parent or the Borrower without such consent shall be
null and void) and (ii)&nbsp;no Lender may assign or otherwise transfer its
rights or obligations hereunder except in accordance with this Section.&nbsp;
Nothing in this Agreement, expressed or implied, shall be construed to confer
upon any Person (other than the parties hereto, their respective successors and
assigns permitted hereby (including any Affiliate of an Issuing Bank that
issues any Letter of Credit), Participants (to the extent provided in paragraph&nbsp;(c)
of this Section) and, to the extent expressly contemplated hereby, the Related
Parties of each of the Agents, the Issuing Banks and the Lenders) any legal or
equitable right, remedy or claim under or by reason of this Agreement.</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; (i)&nbsp; Subject to the conditions set forth in
paragraph (b)(ii) below, any Lender may assign to one or more assignees all or
a portion of its rights and obligations under this Agreement (including all or
a portion of its Commitment and the Loans at the time owing to it) with the
prior written consent (such consent not to be unreasonably withheld) of:</h3>

<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";'>(A)&nbsp; Parent or the Borrower; <u>provided</u> that no
consent of Parent or the Borrower shall be required for an assignment to a
Lender or any Affiliate of a Lender or, if an Event of Default has occurred and
is continuing, any other assignee;</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";'>(B)&nbsp; the Paying Agent; <u>provided</u> that no consent of
the Paying Agent shall be required for an assignment of a Commitment to an
assignee that is a Lender with a Commitment immediately prior to giving effect
to such assignment or an Affiliate of any such Lender; and</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.5in;text-indent:.5in'>(C)&nbsp; each
Issuing Bank and each Swingline Lender; <u>provided</u> that no consent of an
Issuing Bank or a Swingline Lender shall be required for an assignment of a
Commitment to an assignee that is a Lender with a Commitment immediately prior
to giving effect to such assignment or an Affiliate of any such Lender. </p>

<h6 style='mso-style-name:"Heading 6\,h6\,H6";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in;page-break-after:avoid'>(ii)&nbsp; Assignments shall be
subject to the following additional conditions:</h6>

<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";'>(A)&nbsp; except in the case of an assignment to a Lender or an
Affiliate of a Lender or an assignment of the entire remaining amount of the
assigning Lender&#146;s Commitment or Competitive Loans, the amount of the
Commitment of the assigning Lender subject to each such assignment (determined
as of the date the Assignment and Assumption with respect to such assignment is
delivered to the Paying Agent) shall not be less than $10,000,000, unless each
of the Borrower (or Parent) and the Paying Agent otherwise consent; <u>provided</u>
that no such consent of the Borrower (or Parent) shall be required if an Event
of Default has occurred and is continuing;</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";'>(B)&nbsp; each partial assignment shall be made as an
assignment of a proportionate part of all the assigning Lender&#146;s rights and
obligations under this Agreement; <u>provided</u> that this clause&nbsp;shall
not apply to rights in respect of outstanding Competitive Loans;</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";'>(C)&nbsp; the parties to each assignment shall execute and
deliver to the Paying Agent an Assignment and Assumption, together with a
processing and recordation fee of $3,500; and</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:.5in;text-indent:.5in;font-size:12.0pt;font-family:"Times New Roman","serif";'>(D)&nbsp; the assignee, if it shall not be a Lender, shall
deliver to the Paying Agent an Administrative Questionnaire.</p>

<h6 style='mso-style-name:"Heading 6\,h6\,H6";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(iii)&nbsp; Subject to acceptance and recording thereof
pursuant to paragraph&nbsp;(b)(iv) of this Section, from and after the
effective date specified in each Assignment and Assumption the assignee
thereunder shall be a party hereto and, to the extent of the interest assigned
by such Assignment and Assumption, have the rights and obligations of a Lender
under this Agreement, and the assigning Lender thereunder shall, to the extent
of the interest assigned by such Assignment and Assumption, be released from
its obligations under this Agreement (and, in the case of an Assignment and
Assumption covering all of the assigning Lender&#146;s rights and obligations under
this Agreement, such Lender shall cease to be a party hereto but shall continue
to be entitled to the benefits of Sections&nbsp;2.15, 2.16, 2.17 and 9.03).&nbsp;
Any assignment or transfer by a Lender of rights or obligations under this
Agreement that does not comply with this Section&nbsp;9.04 shall be treated for
purposes of this Agreement as a sale by such Lender of a participation in such
rights and obligations in accordance with paragraph&nbsp;(c) of this Section.</h6>

<h6 style='mso-style-name:"Heading 6\,h6\,H6";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(iv)&nbsp; The Paying Agent, acting for this purpose as
an agent of the Loan Parties, shall maintain at one of its offices a copy of
each Assignment and Assumption delivered to it and a register for the
recordation of the names and addresses of the Lenders, and the Commitment of,
and principal amount of the Loans and LC Disbursements owing to, each Lender
pursuant to the terms hereof from time to time (the &#147;<u>Register</u>&#148;).&nbsp; The
entries in the Register shall be conclusive, and the Loan Parties, the Agents,
the Issuing Banks and the Lenders may treat each Person whose name is recorded
in the Register pursuant to the terms hereof as a Lender hereunder for all
purposes of this Agreement, notwithstanding notice to the contrary.&nbsp; The
Register shall be available for inspection by the Borrower, any Issuing Bank
and any Lender, at any reasonable time and from time to time upon reasonable
prior notice.</h6>

<h6 style='mso-style-name:"Heading 6\,h6\,H6";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(v)&nbsp; Upon its receipt of a duly completed
Assignment and Assumption executed by an assigning Lender and an assignee, the
assignee&#146;s completed Administrative Questionnaire (unless the assignee shall
already be a Lender hereunder), the processing and recordation fee referred to
in paragraph&nbsp;(b) of this Section and any written consent to such
assignment required by paragraph&nbsp;(b) of this Section, the Paying Agent
shall accept such Assignment and Assumption and record the information contained
therein in the Register.&nbsp; No assignment shall be effective for purposes of this
Agreement unless it has been recorded in the Register as provided in this
paragraph.</h6>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(c)&nbsp; Any Lender may, without the consent of the
Loan Parties, the Agents, the Issuing Banks or the Swingline Lenders, sell
participations to one or more banks or other entities (a &#147;<u>Participant</u>&#148;)
in all or a portion of such Lender&#146;s rights and obligations under this
Agreement (including all or a portion of its Commitment and the Loans owing to
it); <u>provided</u> that (A)&nbsp;such Lender&#146;s obligations under this
Agreement shall remain unchanged, (B)&nbsp;such Lender shall remain solely
responsible to the other parties hereto for the performance of such obligations
and (C)&nbsp;the Loan Parties, the Agents, the Issuing Banks and the other
Lenders shall continue to deal solely and directly with such Lender in
connection with such Lender&#146;s rights and obligations under the Loan Documents.&nbsp;
Any agreement or instrument pursuant to which a Lender sells such a
participation shall provide that such Lender shall retain the sole right to
enforce the Loan Documents and to approve any amendment, modification or waiver
of any provision of the Loan Documents; <u>provided</u> that such agreement or
instrument may provide that such Lender will not, without the consent of the
Participant, agree to any amendment, modification or waiver described in the
first proviso to Section&nbsp;9.02(b) that affects such Participant.&nbsp; The Loan
Parties agree that each Participant shall be entitled to the benefits of Sections&nbsp;2.15,
2.16 and 2.17 (subject to the requirements and limitations therein, including
the requirements under Section&nbsp;2.17(f) (it being understood that the
documentation required under Section 2.17(f) shall be delivered to the
participating Lender)) to the same extent as if it were a Lender and had
acquired its interest by assignment pursuant to paragraph&nbsp;(b) of this
Section; <u>provided</u> that such Participant (A) agrees to be subject to the
provisions of Sections&nbsp;2.18 and 2.19 as if it were an assignee under
paragraph&nbsp;(b) of this Section; and (B) shall not be entitled to receive
any greater payment under Sections 2.15 or 2.17, with respect to any
participation, than its participating Lender would have been entitled to
receive, except to the extent such entitlement to receive a greater payment
results from a Change in Law that occurs after the Participant acquired the
applicable participation.&nbsp; To the extent permitted by law, each Participant
also shall be entitled to the benefits of Section&nbsp;9.08 as though it were a
Lender; <u>provided</u> that such Participant agrees to be subject to
Section&nbsp;2.18(c) as though it were a Lender.&nbsp; Each Lender that sells a
participation shall, acting solely for this purpose as an agent of the
Borrower, maintain a register on which it enters the name and address of each
Participant and the principal amounts (and stated interest) of each
Participant&#146;s interest in the Loans or other obligations under this Agreement
(the &#147;<u>Participant Register</u>&#148;); <u>provided</u> that no Lender shall have
any obligation to disclose all or any portion of the Participant Register to
any Person (including the identity of any Participant or any information
relating to a Participant&#146;s interest in any Commitments, Loans, Letters of
Credit or its other obligations under any Loan Document) except to the extent
that such disclosure is necessary to establish that such Commitment, Loan,
Letter of Credit or other obligation is in registered form under Section
5f.103-1(c) of the United States Treasury Regulations.&nbsp; The entries in the
Participant Register shall be conclusive absent manifest error, and such Lender
shall treat each person whose name is recorded in the Participant Register as
the owner of such participation for all purposes of this Agreement
notwithstanding any notice to the contrary.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(d)&nbsp; Any Lender may at any time pledge or assign a
security interest in all or any portion of its rights under this Agreement to
secure obligations of such Lender, including any pledge or assignment to secure
obligations to a Federal Reserve Bank, and this Section shall not apply to any
such pledge or assignment of a security interest; <u>provided</u> that no such
pledge or assignment of a security interest shall release a Lender from any of
its obligations hereunder or substitute any such pledgee or assignee for such
Lender as a party hereto.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(e)&nbsp; Notwithstanding the foregoing, no assignment
or participation shall be made to the Borrower or any Affiliate of the
Borrower.</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744235">SECTION 9.05.&nbsp; <u>Survival.</u>&nbsp;
All covenants, agreements, representations and warranties made by the Loan Parties
in the Loan Documents and in the certificates or other instruments delivered in
connection with or pursuant to this Agreement or any other Loan Document shall
be considered to have been relied upon by the other parties hereto and thereto
and shall survive the execution and delivery of the Loan Documents and the
making of any Loans and issuance of any Letters of Credit, regardless of any
investigation made by any such other party or on its behalf and notwithstanding
that any Agent, any Issuing Bank or any Lender may have had notice or knowledge
of any Default or incorrect representation or warranty at the time any credit
is extended hereunder, and shall continue in full force and effect as long as
the principal of or any accrued interest on any Loan or any fee or any other
amount payable under this Agreement or any other Loan Document is outstanding
and unpaid or any Letter of Credit is outstanding and so long as the
Commitments have not expired or terminated.&nbsp; The provisions of
Sections&nbsp;2.15, 2.16, 2.17 and 9.03 and Article&nbsp;VIII shall survive and
remain in full force and effect regardless of the consummation of the
transactions contemplated hereby, the repayment of the Loans, the expiration or
termination of the Letters of Credit and the Commitments or the termination of
this Agreement or any other Loan Document or any provision hereof or thereof.</a></h2>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744236">SECTION 9.06.&nbsp; <u>Counterparts;
Integration; Effectiveness.</u>&nbsp; This Agreement may be executed in counterparts
(and by different parties hereto on different counterparts), each of which
shall constitute an original, but all of which when taken together shall
constitute a single contract.&nbsp; This Agreement, the other Loan Documents and any
separate letter agreements with respect to fees payable to any Agent, Lender or
Issuing Bank constitute the entire contract among the parties relating to the
subject matter hereof and supersede any and all previous agreements and
understandings, oral or written, relating to the subject matter hereof.&nbsp; Except
as provided in Section&nbsp;4.01, this Agreement shall become effective when it
shall have been executed by the Paying Agent and when the Paying Agent shall
have received counterparts hereof which, when taken together, bear the
signatures of each of the other parties hereto (other than the Borrower), and
thereafter shall be binding upon and inure to the benefit of the parties hereto
and their respective successors and assigns.&nbsp; Delivery of an executed
counterpart of a signature page of this Agreement by telecopy shall be
effective as delivery of a manually executed counterpart of this Agreement.</a></h2>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744237">SECTION 9.07.&nbsp; <u>Severability.</u>&nbsp;
Any provision of this Agreement held to be invalid, illegal or unenforceable in
any jurisdiction shall, as to such jurisdiction, be ineffective to the extent
of such invalidity, illegality or unenforceability without affecting the
validity, legality and enforceability of the remaining provisions hereof; and
the invalidity of a particular provision in a particular jurisdiction shall not
invalidate such provision in any other jurisdiction.</a></h2>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744238">SECTION 9.08.&nbsp; <u>Right of
Setoff.</u>&nbsp; If an Event of Default shall have occurred and be continuing, each
Lender and each of its Affiliates is hereby authorized at any time and from
time to time, to the fullest extent permitted by law, to set off and apply any
and all deposits (general or special, time or demand, provisional or final) at
any time held and other obligations at any time owing by such Lender or
Affiliate to or for the credit or the account of any Loan Party against any of
and all the obligations of such Loan Party now or hereafter existing under any
Loan Document held by such Lender, irrespective of whether or not such Lender
shall have made any demand under any Loan Document and although such
obligations may be unmatured.&nbsp; The rights of each Lender under this Section are
in addition to other rights and remedies (including other rights of setoff)
which such Lender may have.</a></h2>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744239">SECTION 9.09.&nbsp; <u>Governing
Law; Jurisdiction; Consent to Service of Process.</u>&nbsp; </a>(a)&nbsp; This Agreement
shall be construed in accordance with and governed by the law of the State of
New&nbsp;York.</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; Each of Parent and the Borrower hereby
irrevocably and unconditionally submits, for itself and its property, to the
exclusive jurisdiction of the Supreme Court of the State of New&nbsp;York
sitting in New&nbsp;York County and of the United States District Court of the
Southern District of New&nbsp;York, and any appellate court from any thereof,
in any action or proceeding arising out of or relating to this Agreement or any
other Loan Document, or for recognition or enforcement of any judgment, and
each of the parties hereto hereby irrevocably and unconditionally agrees that
all claims in respect of any such action or proceeding may be heard and
determined in such New&nbsp;York State or, to the extent permitted by law, in
such Federal court.&nbsp; Each of the parties hereto agrees that a final judgment in
any such action or proceeding shall be conclusive and may be enforced in other
jurisdictions by suit on the judgment or in any other manner provided by law.&nbsp;
Nothing in this Agreement or any other Loan Document shall affect any right
that any Agent, any Issuing Bank or any Lender may otherwise have to bring any
action or proceeding relating to this Agreement or any other Loan Document
against Parent, the Borrower or their respective properties in the courts of
any jurisdiction.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(c)&nbsp; Each of Parent and the Borrower hereby
irrevocably and unconditionally waives, to the fullest extent it may legally
and effectively do so, any objection which it may now or hereafter have to the
laying of venue of any suit, action or proceeding arising out of or relating to
this Agreement or any other Loan Document in any court referred to in paragraph
(b) of this Section.&nbsp; Each of the parties hereto hereby irrevocably waives, to
the fullest extent permitted by law, the defense of an inconvenient forum to
the maintenance of such action or proceeding in any such court.</h3>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(d)&nbsp; Each party to this Agreement irrevocably
consents to service of process in the manner provided for notices in
Section&nbsp;9.01.&nbsp; Nothing in this Agreement or any other Loan Document will
affect the right of any party to this Agreement to serve process in any other
manner permitted by law.</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744240">SECTION 9.10.&nbsp; <u>WAIVER OF
JURY TRIAL.</u>&nbsp; EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY
LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS
AGREEMENT, ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY
(WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY).&nbsp; EACH PARTY HERETO
(A)&nbsp;CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY
HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN
THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND
(B)&nbsp;ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO
ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND
CERTIFICATIONS IN THIS SECTION.</a></h2>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744241">SECTION 9.11.&nbsp; <u>Headings.</u>&nbsp;
Article and Section headings and the Table of Contents used herein are for
convenience of reference only, are not part of this Agreement and shall not
affect the construction of, or be taken into consideration in interpreting,
this Agreement.</a></h2>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744242">SECTION 9.12.&nbsp; <u>Confidentiality.</u>&nbsp;
Each of the Agents, the Issuing Banks and the Lenders agrees to maintain the
confidentiality of the Information (as defined below), except that Information
may be disclosed (a)&nbsp;to its and its Affiliates&#146; directors, officers,
employees and agents, including accountants, legal counsel and other advisors
(it being understood that the Persons to whom such disclosure is made will be
informed of the confidential nature of such Information and instructed to keep
such Information confidential), (b)&nbsp;to the extent requested by any
regulatory authority, (c)&nbsp;to the extent required by applicable laws or
regulations or by any subpoena or similar legal process, (d)</a><font style="font-size: 11.0pt">&nbsp;</font>to any other party to this Agreement,
(e)&nbsp;in connection with the exercise of any remedies hereunder or any suit,
action or proceeding relating to this Agreement or any other Loan Document or
the enforcement of rights hereunder or thereunder, (f)&nbsp;subject to an
agreement containing provisions substantially the same as those of this
Section, to any assignee of or Participant in, or any prospective assignee of
or Participant in, any of its rights or obligations under this Agreement, (g)&nbsp;with
the consent of Parent or the Borrower or (h)&nbsp;to the extent such
Information (i)&nbsp;becomes publicly available other than as a result of a
breach of this Section or (ii)&nbsp;becomes available to any Agent, any Issuing
Bank or any Lender on a nonconfidential basis from a source other than Parent
or the Borrower.&nbsp; For the purposes of this Section, &#147;<u>Information</u>&#148; means
all information received from Parent or the Borrower relating to Parent or the
Borrower or their respective businesses, other than any such information that
is available to any Agent, any Issuing Bank or any Lender on a nonconfidential
basis prior to disclosure by Parent or the Borrower.&nbsp; Any Person required to
maintain the confidentiality of Information as provided in this Section shall
be considered to have complied with its obligation to do so if such Person has
exercised the same degree of care to maintain the confidentiality of such
Information as such Person would accord to its own confidential information.</h2>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744243">SECTION 9.13.&nbsp; <u>Interest
Rate Limitation.</u>&nbsp; Notwithstanding anything herein to the contrary, if at
any time the interest rate applicable to any Loan, together with all fees,
charges and other amounts which are treated as interest on such Loan under
applicable law (collectively the &#147;<u>Charges</u>&#148;), shall exceed the maximum
lawful rate (the &#147;<u>Maximum Rate</u>&#148;) which may be contracted for, charged,
taken, received or reserved by the Lender holding such Loan in accordance with
applicable law, the rate of interest payable in respect of such Loan hereunder,
together with all Charges payable in respect thereof, shall be limited to the
Maximum Rate and, to the extent lawful, the interest and Charges that would
have been payable in respect of such Loan but were not payable as a result of
the operation of this Section shall be cumulated and the interest and Charges
payable to such Lender in respect of other Loans or periods shall be increased
(but not above the Maximum Rate therefor) until such cumulated amount, together
with interest thereon at the Federal Funds Effective Rate to the date of
repayment, shall have been received by such Lender.</a></h2>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744244">SECTION 9.14.&nbsp; <u>Patriot
Act</u>.&nbsp; Each Lender hereby notifies the Loan
Parties that pursuant to the requirements of the Patriot Act, it is required to
obtain, verify and record information that identifies the Loan Parties, which
information includes the name and address of the Loan Parties and other
information that will allow such Lender to identify the Loan Parties in
accordance with the Act.</a></h2>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744245">SECTION 9.15.&nbsp; <u>Conversion
of Currencies.</u>&nbsp; </a>(a)&nbsp; If, for the purpose of
obtaining judgment in any court, it is necessary to convert a sum due under
this Agreement in dollars into another currency, the parties hereto agree, to
the fullest extent that they may legally and effectively do so, that the rate
of exchange used shall be that at which in accordance with normal banking
procedures the Paying Agent could purchase dollars with such other currency in
New York, New York, on the Business Day immediately preceding the day on which
final judgment is given.</h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'>(b)&nbsp; The obligations of
the Borrower in respect of any sum due to the Paying Agent, any Lender or any
Issuing Bank hereunder in dollars shall, to the extent permitted by applicable
law, notwithstanding any judgment in a currency other than dollars, be
discharged only to the extent that on the Business Day following receipt of any
sum adjudged to be so due in the judgment currency, the Paying Agent, such
Lender or such Issuing Bank may in accordance with normal banking procedures
purchase dollars in the amount originally due to the Paying Agent, such Lender
or such Issuing Bank with the judgment currency.&nbsp; If the amount of dollars so
purchased is less than the sum originally due to the Paying Agent, such Lender
or such Issuing Bank, the Borrower agrees, as a separate obligation and notwithstanding
any such judgment, to indemnify the Paying Agent, such Lender or such Issuing
Bank against the resulting loss.</h3>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744246">SECTION 9.16.&nbsp; <u>Termination
of Requirement for Subsidiary Guarantees.</u>&nbsp; If a Subsidiary Guarantee
Release Ratings Event occurs, and the Borrower gives notice thereof to the
Paying Agent certifying that a Subsidiary Guarantee Release Ratings Event has
occurred, then (a) the Subsidiary Loan Parties shall no longer be required to
be or become Guarantors (and the Borrower may terminate the Guarantee of all,
or any one or more of the Subsidiary Guarantors by notice to the Paying Agent
as provided in the Guarantee Agreement) and (b) the obligations of the Borrower
and the Subsidiary Loan Parties under Sections 3.08, 5.08, 5.09, 6.07, 6.08&nbsp;
and 6.09 shall cease to apply as provided therein.</a></h2>

<h2 style='mso-style-name:"Heading 2\,h2";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;margin-left:0in'><a name="_Toc295744247">SECTION 9.17.&nbsp; <u>No
Fiduciary Duty.</u>&nbsp; Each Agent, each Lender and their Affiliates
(collectively, solely for purposes of this paragraph, the &#147;Lenders&#148;), may have
economic interests that conflict with those of the Loan Parties, their
stockholders and/or their affiliates.&nbsp; Each Loan Party agrees that nothing in
the Loan Documents or otherwise will be deemed to create an advisory, fiduciary
or agency relationship or fiduciary or other implied duty between any Lender,
on the one hand, and such Loan Party, its stockholders or its affiliates, on
the other.&nbsp; The Loan Parties acknowledge and agree that (i) the transactions
contemplated by the Loan Documents (including the exercise of rights and
remedies hereunder and thereunder) are arm&#146;s-length commercial transactions
between the Lenders, on the one hand, and the Loan Parties, on the other, and
(ii) in connection therewith and with the process leading thereto, (x) no
Lender has assumed an advisory or fiduciary responsibility in favor of any Loan
Party, its stockholders or its affiliates with respect to the transactions
contemplated hereby (or the exercise of rights or remedies with respect
thereto) or the process leading thereto (irrespective of whether any Lender has
advised, is currently advising or will advise any Loan Party, its stockholders
or its Affiliates on other matters) or any other obligation to any Loan Party
except the obligations expressly set forth in the Loan Documents and (y) each
Lender is acting solely as principal and not as the agent or fiduciary of any
Loan Party, its management, stockholders, creditors or any other Person.&nbsp; Each
Loan Party acknowledges and agrees that it has consulted its own legal and
financial advisors to the extent it deemed appropriate and that it is responsible
for making its own independent judgment with respect to such transactions and
the process leading thereto.&nbsp; Each Loan Party agrees that it will not claim
that any Lender has rendered advisory services of any nature or respect, or
owes a fiduciary or similar duty to such Loan Party, in connection with such
transaction or the process leading thereto.</a></h2>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;text-indent:0in'>&nbsp;</h3>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>[Remainder of page
intentionally left blank]</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>&nbsp;</p>

</div>

<br
clear=all style='page-break-before:always'>

<div style='page:WordSection4;'>

<h3 style='mso-style-name:"Heading 3\,h3\,H3";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;text-indent:1.0in;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:normal;'>IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed and delivered by their proper and duly authorized officers as of
the day and year first above written.</h3>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0
 style='margin-left:6.0pt;border-collapse:collapse'>
 <tr style='page-break-inside:avoid'>
  <td width=285 valign=top style='width:214.0pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=339 valign=top style='width:253.95pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'><font style="font-size: 12.0pt">MACY&#146;S, INC.</font></p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=285 valign=top style='width:214.0pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=339 valign=top style='width:253.95pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=285 valign=top style='width:214.0pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=339 valign=top style='width:253.95pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=285 valign=top style='width:214.0pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=339 valign=top style='width:253.95pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-family:"Times New Roman","serif"'>By: <u>&nbsp;&nbsp;/s/
	Karen M. Hoguet&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></p>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";margin-left:20.0pt'><font style="font-size: 12.0pt">Name:&nbsp;
	Karen M. Hoguet<br>
  Title: Chief Financial Officer</font></p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=285 valign=top style='width:214.0pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=339 valign=top style='width:253.95pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=285 valign=top style='width:214.0pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=339 valign=top style='width:253.95pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=285 valign=top style='width:214.0pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=339 valign=top style='width:253.95pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'><font style="font-size: 12.0pt">MACY&#146;S RETAIL HOLDINGS, INC.</font></p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=285 valign=top style='width:214.0pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=339 valign=top style='width:253.95pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=285 valign=top style='width:214.0pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=339 valign=top style='width:253.95pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=285 valign=top style='width:214.0pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=339 valign=top style='width:253.95pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'>
	<font size="3">By: </font><u><font size="3">&nbsp;&nbsp;&nbsp;/s/ Karen M.
	Hoguet&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font> </u></p>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";margin-left:20.0pt'><font style="font-size: 12.0pt">Name:
	Karen M. Hoguet<br>
  Title: Vice President</font></p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<br
clear=all style='page-break-before:always'>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0
 style='margin-left:6.0pt;border-collapse:collapse'>
 <tr style='page-break-inside:avoid'>
  <td width=285 valign=top style='width:214.0pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=339 valign=top style='width:253.95pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'><font style="font-size: 12.0pt">JPMORGAN CHASE BANK, N.A.,
  individually and as Administrative Agent and Paying Agent</font></p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=285 valign=top style='width:214.0pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=339 valign=top style='width:253.95pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'><font style="font-size: 12.0pt">&nbsp;</font></p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=285 valign=top style='width:214.0pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=339 valign=top style='width:253.95pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'><font style="font-size: 12.0pt">&nbsp;</font></p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=285 valign=top style='width:214.0pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=339 valign=top style='width:253.95pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'><font style="font-size: 12.0pt">By: <u>&nbsp;&nbsp;/s/
	Sarah L. Freedman&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></font></p>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";margin-left:20.0pt'><font style="font-size: 12.0pt">Name:
	Sarah L. Freedman<br>
  Title: Vice President</font></p>
  </td>
 </tr>
</table>

<br
clear=all style='page-break-before:always'>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0
 style='margin-left:6.0pt;border-collapse:collapse'>
 <tr style='page-break-inside:avoid'>
  <td width=285 valign=top style='width:214.0pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=339 valign=top style='width:253.95pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'><font style="font-size: 12.0pt">BANK OF AMERICA, N.A.,
  individually and as Administrative Agent</font></p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=285 valign=top style='width:214.0pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=339 valign=top style='width:253.95pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'><font style="font-size: 12.0pt">&nbsp;</font></p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=285 valign=top style='width:214.0pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=339 valign=top style='width:253.95pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'><font style="font-size: 12.0pt">&nbsp;</font></p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=285 valign=top style='width:214.0pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=339 valign=top style='width:253.95pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'><font style="font-size: 12.0pt">By: <u>&nbsp;&nbsp;&nbsp;&nbsp;/s/&nbsp;
	Jaime Eng&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; </u></font></p>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";margin-left:16.5pt'><font style="font-size: 12.0pt">Name:
	Jaime Eng<br>
  Title: Vice President</font></p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=285 valign=top style='width:214.0pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=339 valign=top style='width:253.95pt;padding:0in 6.0pt 0in 6.0pt'>
  <p style='mso-style-name:Table;margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-align:center;font-size:8.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
</table>

</div>

<br
clear=all style='page-break-before:always'>

<div style='page:WordSection5;'>

<p style='mso-style-name:"Title Right Justified";margin:0in;margin-bottom:.0001pt;text-align:right;page-break-after:avoid;font-size:11.0pt;font-family:"Times New Roman","serif";page-break-after:auto'>Lender Signature Page to</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>the MACY&#146;S Credit Agreement</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>dated the date first above written</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0
 style='margin-left:5.4pt;border-collapse:collapse;border:none'>
 <tr>
  <td width=311 colspan=3 valign=top style='width:233.4pt;border:none;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name of Institution:</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <div style='border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";border:none;padding:0in'>
	CREDIT SUISSE AG, </p>
  </div>
  </td>
 </tr>
 <tr>
  <td width=311 colspan=3 valign=top style='width:233.4pt;border:none;
  padding:0in 5.4pt 0in 5.4pt'><a name=FirmName></a>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>
	CAYMAN ISLANDS BRANCH</p>
  </td>
 </tr>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>by</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>
	/s/ Mikhail Faybusovich</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name:
	Mikhail Faybusovich</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Title:
	Director</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>For any Institution requiring a second signature line:</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0
 style='border-collapse:collapse;border:none'>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>by</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>
	/s/ Vipul Dhadda</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name:
	Vipul Dhadda</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Title:
	Associate</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<br
clear=all style='page-break-before:always'>

<p style='mso-style-name:"Title Right Justified";margin:0in;margin-bottom:.0001pt;text-align:right;page-break-after:avoid;font-size:11.0pt;font-family:"Times New Roman","serif";page-break-after:auto'>Lender Signature Page to</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>the MACY&#146;S Credit Agreement</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>dated the date first above written</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0
 style='margin-left:5.4pt;border-collapse:collapse;border:none'>
 <tr>
  <td width=311 colspan=3 valign=top style='width:233.4pt;border:none;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name of Institution:</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <div style='border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";border:none;padding:0in'>
	U.S. BANK NATIONAL ASSOCIATION</p>
  </div>
  </td>
 </tr>
 <tr>
  <td width=311 colspan=3 valign=top style='width:233.4pt;border:none;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>by</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>
	/s/ Frances W. Josephic</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name:
	Frances W. Josephic </p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Title:
	Vice President</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>For any Institution requiring a second signature line:</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0
 style='border-collapse:collapse;border:none'>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>by</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name:</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Title:</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<br
clear=all style='page-break-before:always'>

<p style='mso-style-name:"Title Right Justified";margin:0in;margin-bottom:.0001pt;text-align:right;page-break-after:avoid;font-size:11.0pt;font-family:"Times New Roman","serif";page-break-after:auto'>Lender Signature Page to</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>the MACY&#146;S Credit Agreement</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>dated the date first above written</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0
 style='margin-left:5.4pt;border-collapse:collapse;border:none'>
 <tr>
  <td width=311 colspan=3 valign=top style='width:233.4pt;border:none;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name of Institution:</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <div style='border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";border:none;padding:0in'>
	WELLS FARGO BANK, N.A. </p>
  </div>
  </td>
 </tr>
 <tr>
  <td width=311 colspan=3 valign=top style='width:233.4pt;border:none;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>by</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>
	/s/ Thiplada Siddiqui</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name:
	Thiplada Siddiqui</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Title:
	Vice President</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>For any Institution requiring a second signature line:</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0
 style='border-collapse:collapse;border:none'>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>by</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name:</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Title:</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<br
clear=all style='page-break-before:always'>

<p style='mso-style-name:"Title Right Justified";margin:0in;margin-bottom:.0001pt;text-align:right;page-break-after:avoid;font-size:11.0pt;font-family:"Times New Roman","serif";page-break-after:auto'>Lender Signature Page to</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>the MACY&#146;S Credit Agreement</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>dated the date first above written</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0
 style='margin-left:5.4pt;border-collapse:collapse;border:none'>
 <tr>
  <td width=311 colspan=3 valign=top style='width:233.4pt;border:none;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name of Institution:</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <div style='border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";border:none;padding:0in'>
	FIFTH THIRD BANK</p>
  </div>
  </td>
 </tr>
 <tr>
  <td width=311 colspan=3 valign=top style='width:233.4pt;border:none;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>by</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>
	/s/ Megan S. Szewc</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name:
	Megan S. Szewc</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Title:
	Vice President</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>For any Institution requiring a second signature line:</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0
 style='border-collapse:collapse;border:none'>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>by</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name:</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Title:</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<br
clear=all style='page-break-before:always'>

<p style='mso-style-name:"Title Right Justified";margin:0in;margin-bottom:.0001pt;text-align:right;page-break-after:avoid;font-size:11.0pt;font-family:"Times New Roman","serif";page-break-after:auto'>Lender Signature Page to</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>the MACY&#146;S Credit Agreement</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>dated the date first above written</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0
 style='margin-left:5.4pt;border-collapse:collapse;border:none'>
 <tr>
  <td width=311 colspan=3 valign=top style='width:233.4pt;border:none;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name of Institution:</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <div style='border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";border:none;padding:0in'>
	PNC BANK, NATIONAL ASSOCIATION</p>
  </div>
  </td>
 </tr>
 <tr>
  <td width=311 colspan=3 valign=top style='width:233.4pt;border:none;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>by</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>
	/s/ Bruce A. Kintner</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name:
	Bruce A. Kintner</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Title:
	Senior Vice President</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>For any Institution requiring a second signature line:</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0
 style='border-collapse:collapse;border:none'>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>by</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name:</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Title:</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<br
clear=all style='page-break-before:always'>

<p style='mso-style-name:"Title Right Justified";margin:0in;margin-bottom:.0001pt;text-align:right;page-break-after:avoid;font-size:11.0pt;font-family:"Times New Roman","serif";page-break-after:auto'>Lender Signature Page to</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>the MACY&#146;S Credit Agreement</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>dated the date first above written</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0
 style='margin-left:5.4pt;border-collapse:collapse;border:none'>
 <tr>
  <td width=311 colspan=3 valign=top style='width:233.4pt;border:none;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name of Institution:</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <div style='border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";border:none;padding:0in'>
	STANDARD CHARTERED BANK</p>
  </div>
  </td>
 </tr>
 <tr>
  <td width=311 colspan=3 valign=top style='width:233.4pt;border:none;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>by</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>
	/s/ James P. Hughes</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name:
	James P. Hughes A2386</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Title:
	Director</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>For any Institution requiring a second signature line:</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0
 style='border-collapse:collapse;border:none'>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>by</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>
	/s/ Andrew Y. Ng</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name:
	Andrew Y. Ng</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Title:
	<font size="2">Director, Standard Chartered Bank NY</font></p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<br
clear=all style='page-break-before:always'>

<p style='mso-style-name:"Title Right Justified";margin:0in;margin-bottom:.0001pt;text-align:right;page-break-after:avoid;font-size:11.0pt;font-family:"Times New Roman","serif";page-break-after:auto'>Lender Signature Page to</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>the MACY&#146;S Credit Agreement</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>dated the date first above written</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0
 style='margin-left:5.4pt;border-collapse:collapse;border:none'>
 <tr>
  <td width=311 colspan=3 valign=top style='width:233.4pt;border:none;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name of Institution:</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <div style='border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";border:none;padding:0in'>
	UNION BANK, N.A.</p>
  </div>
  </td>
 </tr>
 <tr>
  <td width=311 colspan=3 valign=top style='width:233.4pt;border:none;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>by</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>
	/s/ Dana Philbin</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name:
	Dana Philbin</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Title:
	Vice President</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>For any Institution requiring a second signature line:</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0
 style='border-collapse:collapse;border:none'>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>by</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name:</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Title:</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<br
clear=all style='page-break-before:always'>

<p style='mso-style-name:"Title Right Justified";margin:0in;margin-bottom:.0001pt;text-align:right;page-break-after:avoid;font-size:11.0pt;font-family:"Times New Roman","serif";page-break-after:auto'>Lender Signature Page to</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>the MACY&#146;S Credit Agreement</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>dated the date first above written</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0
 style='margin-left:5.4pt;border-collapse:collapse;border:none'>
 <tr>
  <td width=311 colspan=3 valign=top style='width:233.4pt;border:none;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name of Institution:</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <div style='border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";border:none;padding:0in'>
	CITIBANK, N.A.</p>
  </div>
  </td>
 </tr>
 <tr>
  <td width=311 colspan=3 valign=top style='width:233.4pt;border:none;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>by</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>
	/s/ Dina Garthwaite</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name:
	Dina Garthwaite</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Title:
	Vice President</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>For any Institution requiring a second signature line:</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0
 style='border-collapse:collapse;border:none'>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>by</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name:</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Title:</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<br
clear=all style='page-break-before:always'>

<p style='mso-style-name:"Title Right Justified";margin:0in;margin-bottom:.0001pt;text-align:right;page-break-after:avoid;font-size:11.0pt;font-family:"Times New Roman","serif";page-break-after:auto'>Lender Signature Page to</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>the MACY&#146;S Credit Agreement</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>dated the date first above written</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0
 style='margin-left:5.4pt;border-collapse:collapse;border:none'>
 <tr>
  <td width=311 colspan=3 valign=top style='width:233.4pt;border:none;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name of Institution:</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <div style='border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";border:none;padding:0in'>
	GOLDMAN SACHS BANK USA</p>
  </div>
  </td>
 </tr>
 <tr>
  <td width=311 colspan=3 valign=top style='width:233.4pt;border:none;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>by</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>
	/s/ Mark Walton</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name:
	Mark Walton</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Title:
	Authorized Signatory</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>For any Institution requiring a second signature line:</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0
 style='border-collapse:collapse;border:none'>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>by</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name: </p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Title:</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<br
clear=all style='page-break-before:always'>

<p style='mso-style-name:"Title Right Justified";margin:0in;margin-bottom:.0001pt;text-align:right;page-break-after:avoid;font-size:11.0pt;font-family:"Times New Roman","serif";page-break-after:auto'>Lender Signature Page to</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>the MACY&#146;S Credit Agreement</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>dated the date first above written</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0
 style='margin-left:5.4pt;border-collapse:collapse;border:none'>
 <tr>
  <td width=311 colspan=3 valign=top style='width:233.4pt;border:none;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name of Institution:</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <div style='border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";border:none;padding:0in'>
	THE BANK OF NEW YORK MELLON</p>
  </div>
  </td>
 </tr>
 <tr>
  <td width=311 colspan=3 valign=top style='width:233.4pt;border:none;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>by</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>
	/s/ David B. Wirl</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name:
	David B. Wirl</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Title:
	Managing Director</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>For any Institution requiring a second signature line:</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0
 style='border-collapse:collapse;border:none'>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>by</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name:</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Title:</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<br
clear=all style='page-break-before:always'>

<p style='mso-style-name:"Title Right Justified";margin:0in;margin-bottom:.0001pt;text-align:right;page-break-after:avoid;font-size:11.0pt;font-family:"Times New Roman","serif";page-break-after:auto'>Lender Signature Page to</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>the MACY&#146;S Credit Agreement</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>dated the date first above written</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0
 style='margin-left:5.4pt;border-collapse:collapse;border:none'>
 <tr>
  <td width=311 colspan=3 valign=top style='width:233.4pt;border:none;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name of Institution:</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <div style='border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";border:none;padding:0in'>
	FIRST HAWAIIAN BANK</p>
  </div>
  </td>
 </tr>
 <tr>
  <td width=311 colspan=3 valign=top style='width:233.4pt;border:none;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>by</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>
	/s/ Dawn Hofmann</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name:
	Dawn Hofmann</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Title:
	Vice President</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>For any Institution requiring a second signature line:</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:"After Table";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0
 style='border-collapse:collapse;border:none'>
 <tr>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=19 valign=top style='width:13.95pt;border:none;padding:0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>by</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name:</p>
  </td>
 </tr>
 <tr>
  <td width=37 colspan=2 valign=top style='width:27.9pt;border:none;padding:
  0in 0in 0in 0in'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=274 valign=top style='width:205.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='mso-style-name:"Table Text";margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Title:</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

</div>

&nbsp;<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>

<br
clear=all style='page-break-before:always'>

</p>

<div style='page:WordSection6;'>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><b>Schedule 2.01</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><b>&nbsp;</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><b>Commitments</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<div align=center>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0 width=554
 style='margin-left:-163.65pt;border-collapse:collapse;border:none'>
 <tr>
  <td style='width:296px;border-top:1.5pt double windowtext;border-left:1.5pt double windowtext;
  border-bottom:1.0pt solid windowtext;border-right:1.0pt solid windowtext;background:#E6E6E6;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:6.0pt;margin-right:0in;
  margin-bottom:6.0pt;margin-left:0in;text-align:center'><b><font style="font-size: 10.0pt">Lender</font></b></p>
  </td>
  <td style='width:223px;border-top:1.5pt double windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:1.5pt double windowtext;
  background:#E6E6E6;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:6.0pt;margin-right:0in;
  margin-bottom:6.0pt;margin-left:0in;text-align:center'><b><font style="font-size: 10.0pt">Commitment</font></b></p>
  </td>
 </tr>
 <tr>
  <td style='width:296px;border-top:medium none;border-left:1.5pt double windowtext;
  border-bottom:1.0pt solid windowtext;border-right:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase Bank, N.A.</p>
  </td>
  <td style='width:223px;border-top:medium none;border-left:medium none;
  border-bottom:1.0pt solid windowtext;border-right:1.5pt double windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:6.0pt;margin-right:0in;
  margin-bottom:6.0pt;margin-left:0in;text-align:center'>$200,000,000.00</p>
  </td>
 </tr>
 <tr>
  <td style='width:296px;border-top:medium none;border-left:1.5pt double windowtext;
  border-bottom:1.0pt solid windowtext;border-right:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of America, N.A.</p>
  </td>
  <td style='width:223px;border-top:medium none;border-left:medium none;
  border-bottom:1.0pt solid windowtext;border-right:1.5pt double windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:6.0pt;margin-right:0in;
  margin-bottom:6.0pt;margin-left:0in;text-align:center'>$200,000,000.00</p>
  </td>
 </tr>
 <tr>
  <td style='width:296px;border-top:medium none;border-left:1.5pt double windowtext;
  border-bottom:1.0pt solid windowtext;border-right:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Suisse AG</p>
  </td>
  <td style='width:223px;border-top:medium none;border-left:medium none;
  border-bottom:1.0pt solid windowtext;border-right:1.5pt double windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:6.0pt;margin-right:0in;
  margin-bottom:6.0pt;margin-left:0in;text-align:center'>$200,000,000.00</p>
  </td>
 </tr>
 <tr>
  <td style='width:296px;border-top:medium none;border-left:1.5pt double windowtext;
  border-bottom:1.0pt solid windowtext;border-right:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Bank National Association</p>
  </td>
  <td style='width:223px;border-top:medium none;border-left:medium none;
  border-bottom:1.0pt solid windowtext;border-right:1.5pt double windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:6.0pt;margin-right:0in;
  margin-bottom:6.0pt;margin-left:0in;text-align:center'>$200,000,000.00</p>
  </td>
 </tr>
 <tr>
  <td style='width:296px;border-top:medium none;border-left:1.5pt double windowtext;
  border-bottom:1.0pt solid windowtext;border-right:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo Bank National Association</p>
  </td>
  <td style='width:223px;border-top:medium none;border-left:medium none;
  border-bottom:1.0pt solid windowtext;border-right:1.5pt double windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:6.0pt;margin-right:0in;
  margin-bottom:6.0pt;margin-left:0in;text-align:center'>$200,000,000.00</p>
  </td>
 </tr>
 <tr>
  <td style='width:296px;border-top:medium none;border-left:1.5pt double windowtext;
  border-bottom:1.0pt solid windowtext;border-right:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fifth Third Bank</p>
  </td>
  <td style='width:223px;border-top:medium none;border-left:medium none;
  border-bottom:1.0pt solid windowtext;border-right:1.5pt double windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:6.0pt;margin-right:0in;
  margin-bottom:6.0pt;margin-left:0in;text-align:center'>$100,000,000.00</p>
  </td>
 </tr>
 <tr>
  <td style='width:296px;border-top:medium none;border-left:1.5pt double windowtext;
  border-bottom:1.0pt solid windowtext;border-right:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PNC Bank, National Association</p>
  </td>
  <td style='width:223px;border-top:medium none;border-left:medium none;
  border-bottom:1.0pt solid windowtext;border-right:1.5pt double windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:6.0pt;margin-right:0in;
  margin-bottom:6.0pt;margin-left:0in;text-align:center'>$100,000,000.00</p>
  </td>
 </tr>
 <tr>
  <td style='width:296px;border-top:medium none;border-left:1.5pt double windowtext;
  border-bottom:1.0pt solid windowtext;border-right:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Standard Chartered Bank</p>
  </td>
  <td style='width:223px;border-top:medium none;border-left:medium none;
  border-bottom:1.0pt solid windowtext;border-right:1.5pt double windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:6.0pt;margin-right:0in;
  margin-bottom:6.0pt;margin-left:0in;text-align:center'>$62,500,000.00</p>
  </td>
 </tr>
 <tr>
  <td style='width:296px;border-top:medium none;border-left:1.5pt double windowtext;
  border-bottom:1.0pt solid windowtext;border-right:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Union Bank, N.A.</p>
  </td>
  <td style='width:223px;border-top:medium none;border-left:medium none;
  border-bottom:1.0pt solid windowtext;border-right:1.5pt double windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:6.0pt;margin-right:0in;
  margin-bottom:6.0pt;margin-left:0in;text-align:center'>$62,500,000.00</p>
  </td>
 </tr>
 <tr>
  <td style='width:296px;border-top:medium none;border-left:1.5pt double windowtext;
  border-bottom:1.0pt solid windowtext;border-right:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Citibank N.A.</p>
  </td>
  <td style='width:223px;border-top:medium none;border-left:medium none;
  border-bottom:1.0pt solid windowtext;border-right:1.5pt double windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:6.0pt;margin-right:0in;
  margin-bottom:6.0pt;margin-left:0in;text-align:center'>$50,000,000.00</p>
  </td>
 </tr>
 <tr>
  <td style='width:296px;border-top:medium none;border-left:1.5pt double windowtext;
  border-bottom:1.0pt solid windowtext;border-right:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Bank USA</p>
  </td>
  <td style='width:223px;border-top:medium none;border-left:medium none;
  border-bottom:1.0pt solid windowtext;border-right:1.5pt double windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:6.0pt;margin-right:0in;
  margin-bottom:6.0pt;margin-left:0in;text-align:center'>$50,000,000.00</p>
  </td>
 </tr>
 <tr>
  <td style='width:296px;border-top:medium none;border-left:1.5pt double windowtext;
  border-bottom:1.0pt solid windowtext;border-right:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Bank of New York Mellon</p>
  </td>
  <td style='width:223px;border-top:medium none;border-left:medium none;
  border-bottom:1.0pt solid windowtext;border-right:1.5pt double windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:6.0pt;margin-right:0in;
  margin-bottom:6.0pt;margin-left:0in;text-align:center'>$50,000,000.00</p>
  </td>
 </tr>
 <tr>
  <td style='width:296px;border-top:medium none;border-left:1.5pt double windowtext;
  border-bottom:1.0pt solid windowtext;border-right:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Hawaiian Bank</p>
  </td>
  <td style='width:223px;border-top:medium none;border-left:medium none;
  border-bottom:1.0pt solid windowtext;border-right:1.5pt double windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:6.0pt;margin-right:0in;
  margin-bottom:6.0pt;margin-left:0in;text-align:center'>$25,000,000.00</p>
  </td>
 </tr>
 <tr>
  <td style='width:296px;border-top:medium none;border-left:1.5pt double windowtext;
  border-bottom:1.5pt double windowtext;border-right:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:6.0pt;margin-right:0in;margin-bottom:
  6.0pt;margin-left:0in'><b><font style="font-size: 10.0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL:</font></b></p>
  </td>
  <td style='width:223px;border-top:medium none;border-left:medium none;
  border-bottom:1.5pt double windowtext;border-right:1.5pt double windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:6.0pt;margin-right:0in;
  margin-bottom:6.0pt;margin-left:0in;text-align:center'>$1,500,000,000.00</p>
  </td>
 </tr>
</table>

</div>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

&nbsp;<p>&nbsp;</p>
<p>&nbsp;</p>
<p>

<br clear=all
style='page-break-before:always'>

</p>

<p style='mso-style-link:"Subtitle Char";margin-top:0in;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Cambria","serif";'><b>Schedule 6.01<br>
<br>
Existing Indebtedness</b></p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0
 style='border-collapse:collapse'>
 <tr>
  <td width=63 valign=top style='width:47.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>($000)</p>
  </td>
  <td width=575 valign=top style='width:431.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Amount as of May 28, 2011</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0
 style='border-collapse:collapse'>
 <tr>
  <td width=415 valign=top style='width:311.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'><u>Description of Debt</u></p>
  </td>
  <td width=223 valign=top style='width:167.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-align:center'><u>Amount
  of Debt</u></p>
  </td>
 </tr>
 <tr>
  <td width=415 valign=top style='width:311.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
  margin-left:.5in;text-indent:-.5in'>Commercial Paper<br>
  $1.5 billion program</p>
  </td>
  <td width=223 valign=bottom style='width:167.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:78.0pt;
  margin-bottom:12.0pt;margin-left:0in;text-align:right'>$0</p>
  </td>
 </tr>
 <tr>
  <td width=415 valign=top style='width:311.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
  margin-left:.5in;text-indent:-.5in'>Capitalized Leases</p>
  </td>
  <td width=223 valign=bottom style='width:167.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:78.0pt;
  margin-bottom:12.0pt;margin-left:0in;text-align:right'>$31,832</p>
  </td>
 </tr>
 <tr>
  <td width=415 valign=top style='width:311.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
  margin-left:.5in;text-indent:-.5in'>Deutsche Bank Trust Company, as trustee</p>
  </td>
  <td width=223 valign=bottom style='width:167.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:78.0pt;
  margin-bottom:12.0pt;margin-left:0in;text-align:right'>$16,000</p>
  </td>
 </tr>
 <tr>
  <td width=415 valign=top style='width:311.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
  margin-left:.5in;text-indent:-.5in'>Indenture dated as of December 15, 1994<br>
  U.S. Bank National Association, as Trustee</p>
  </td>
  <td width=223 valign=bottom style='width:167.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:78.0pt;
  margin-bottom:12.0pt;margin-left:0in;text-align:right'>$465,442</p>
  </td>
 </tr>
 <tr>
  <td width=415 valign=top style='width:311.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
  margin-left:.5in;text-indent:-.5in'>Indenture dated as of September 10, 1997<br>
  U.S. Bank National Association, as Trustee</p>
  </td>
  <td width=223 valign=bottom style='width:167.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:78.0pt;
  margin-bottom:12.0pt;margin-left:0in;text-align:right'>$700,000</p>
  </td>
 </tr>
 <tr>
  <td width=415 valign=top style='width:311.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
  margin-left:.5in;text-indent:-.5in'>Indenture dated as of July 20, 2004<br>
  The Bank of New York Mellon Trust Company, N.A. as Trustee&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>
  </td>
  <td width=223 valign=bottom style='width:167.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:78.0pt;
  margin-bottom:12.0pt;margin-left:0in;text-align:right'>$1,153,072</p>
  </td>
 </tr>
 <tr>
  <td width=415 valign=top style='width:311.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
  margin-left:.5in;text-indent:-.5in'>Indenture dated as of June 17, 1996<br>
  The Bank of New York Mellon Trust Company, N.A. as Trustee</p>
  </td>
  <td width=223 valign=bottom style='width:167.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:78.0pt;
  margin-bottom:12.0pt;margin-left:0in;text-align:right'>$1,077,806</p>
  </td>
 </tr>
 <tr>
  <td width=415 valign=top style='width:311.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
  margin-left:.5in;text-indent:-.5in'>Amended and Restated Indenture dated as
  of January 15, 1991<br>
  The Bank of New York Mellon Trust Company, N.A. as Trustee</p>
  </td>
  <td width=223 valign=bottom style='width:167.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:78.0pt;
  margin-bottom:12.0pt;margin-left:0in;text-align:right'>$401,638</p>
  </td>
 </tr>
 <tr>
  <td width=415 valign=top style='width:311.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
  margin-left:.5in;text-indent:-.5in'>Indenture dated as of November 2, 2006<br>
  U.S. Bank National Association, as Trustee</p>
  </td>
  <td width=223 valign=bottom style='width:167.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:78.0pt;
  margin-bottom:12.0pt;margin-left:0in;text-align:right'>$3,003,354</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

</div>

<br
clear=all style='page-break-before:always'>

<div style='page:WordSection7;'>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-align:center;
page-break-after:avoid'><b>Schedule 6.02<br>
<br>
Existing Liens</b></p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0
 style='border-collapse:collapse'>
 <tr>
  <td width=213 valign=top style='width:159.6pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>Mortgage Debt<br>
  ($000)</p>
  </td>
  <td width=213 valign=top style='width:159.6pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>&nbsp;</p>
  </td>
  <td width=213 valign=top style='width:159.6pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=213 valign=top style='width:159.6pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>Obligor</p>
  </td>
  <td width=213 valign=top style='width:159.6pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>Property/Location</p>
  </td>
  <td width=213 valign=top style='width:159.6pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-align:center'>Amount
  (5/28/11)</p>
  </td>
 </tr>
 <tr>
  <td width=213 valign=top style='width:159.6pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>Macy&#146;s Retail Holdings, Inc.<br>
  Macy&#146;s California Realty, LLC</p>
  </td>
  <td width=213 valign=top style='width:159.6pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>Deutsche Bank (various)</p>
  </td>
  <td width=213 valign=top style='width:159.6pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:1.0in;
  margin-bottom:12.0pt;margin-left:0in;text-align:right'>$16,000</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

</div>

<br
clear=all style='page-break-before:always'>

<div style='page:WordSection8;'>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-align:center;
page-break-after:avoid'><b>Schedule 6.09<br>
<br>
Restricted Agreements</b></p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=638
 style='width:6.65in;border-collapse:collapse'>
 <tr>
  <td width=638 colspan=2 valign=top style='width:6.65in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
  margin-left:.5in;text-indent:-.5in'>Indenture dated as of December 15, 1994<br>
  U.S. Bank National Association, as Trustee</p>
  </td>
 </tr>
 <tr>
  <td width=87 valign=top style='width:65.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>
	&#9679;</p>
  </td>
  <td width=551 valign=top style='width:413.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>Eighth Supplemental Indenture
  to the December 15, 1994 Indenture, dated as of<br>
  July 14, 1997<br>
  U.S. Bank National Association, as Trustee</p>
  </td>
 </tr>
 <tr>
  <td width=87 valign=top style='width:65.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>
	&#9679;</p>
  </td>
  <td width=551 valign=top style='width:413.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>Ninth Supplemental Indenture
  to the December 15, 1994 Indenture, dated as of<br>
  July 14, 1997<br>
  U.S. Bank National Association, as Trustee</p>
  </td>
 </tr>
 <tr>
  <td width=87 valign=top style='width:65.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>
	&#9679;</p>
  </td>
  <td width=551 valign=top style='width:413.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>Tenth Supplemental Indenture
  to the December 15, 1994 Indenture, dated as of<br>
  August 30, 2005<br>
  U.S. Bank National Association, as Trustee</p>
  </td>
 </tr>
 <tr>
  <td width=87 valign=top style='width:65.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>
	&#9679;</p>
  </td>
  <td width=551 valign=top style='width:413.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>Guarantee of Securities,
  dated as of August 30, 2005, by Macy&#146;s, Inc. relating to the December 15,
  1994 Indenture</p>
  </td>
 </tr>
 <tr>
  <td width=638 colspan=2 valign=top style='width:6.65in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
  margin-left:.5in;text-indent:-.5in'>Indenture dated as of September 10, 1997<br>
  U.S. Bank National Association, as Trustee</p>
  </td>
 </tr>
 <tr>
  <td width=87 valign=top style='width:65.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>
	&#9679;</p>
  </td>
  <td width=551 valign=top style='width:413.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>First Supplemental Indenture
  to the September 10, 1997 Indenture, dated as of<br>
  February 6, 1998<br>
  U.S. Bank National Association, as Trustee</p>
  </td>
 </tr>
 <tr>
  <td width=87 valign=top style='width:65.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>
	&#9679;</p>
  </td>
  <td width=551 valign=top style='width:413.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>Third Supplemental Indenture
  to the September 10, 1997 Indenture, dated as of<br>
  March 24, 1999<br>
  U.S. Bank National Association, as Trustee</p>
  </td>
 </tr>
 <tr>
  <td width=87 valign=top style='width:65.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>
	&#9679;</p>
  </td>
  <td width=551 valign=top style='width:413.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>Seventh Supplemental Indenture
  to the September 10, 1997 Indenture, dated as of<br>
  August 30, 2005<br>
  U.S. Bank National Association, as Trustee</p>
  </td>
 </tr>
 <tr>
  <td width=87 valign=top style='width:65.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>
	&#9679;</p>
  </td>
  <td width=551 valign=top style='width:413.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>Guarantee of Securities,
  dated as of August 30, 2005, by Macy&#146;s, Inc. relating to the September 10,
  1997 Indenture</p>
  </td>
 </tr>
 <tr>
  <td width=638 colspan=2 valign=top style='width:6.65in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
  margin-left:.5in;text-indent:-.5in'>Amended and Restated Indenture dated as
  of January 15, 1991<br>
  The Bank of New York Mellon Trust Company, N.A. as Trustee</p>
  </td>
 </tr>
 <tr>
  <td width=87 valign=top style='width:65.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>
	&#9679;</p>
  </td>
  <td width=551 valign=top style='width:413.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>Guarantee of Securities,
  dated as of August 30, 2005, by Macy&#146;s, Inc. relating to the January 15, 1991
  Indenture</p>
  </td>
 </tr>
 <tr>
  <td width=638 colspan=2 valign=top style='width:6.65in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
  margin-left:.5in;text-indent:-.5in'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
  margin-left:.5in;text-indent:-.5in'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
  margin-left:.5in;text-indent:-.5in'>Indenture dated as of June 17, 1996<br>
  The Bank of New York Mellon Trust Company, N.A. as Trustee</p>
  </td>
 </tr>
 <tr>
  <td width=87 valign=top style='width:65.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>
	&#9679;</p>
  </td>
  <td width=551 valign=top style='width:413.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>First Supplemental Indenture
  to the June 17, 1996 Indenture, dated as of<br>
  August 30, 2005<br>
  The Bank of New York Mellon Trust Company, N.A. as Trustee</p>
  </td>
 </tr>
 <tr>
  <td width=638 colspan=2 valign=top style='width:6.65in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
  margin-left:.5in;text-indent:-.5in'>Indenture dated as of July 20, 2004<br>
  The Bank of New York Mellon Trust Company, N.A. as Trustee</p>
  </td>
 </tr>
 <tr>
  <td width=87 valign=top style='width:65.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>
	&#9679;</p>
  </td>
  <td width=551 valign=top style='width:413.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>First Supplemental Indenture
  to the July 20, 2004 Indenture, dated as of<br>
  August 30, 2005<br>
  The Bank of New York Mellon Trust Company, N.A. as Trustee</p>
  </td>
 </tr>
 <tr>
  <td width=638 colspan=2 valign=top style='width:6.65in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
  margin-left:.5in;text-indent:-.5in'>Indenture dated as of November 2, 2006<br>
  U.S. Bank National Association, as Trustee</p>
  </td>
 </tr>
 <tr>
  <td width=87 valign=top style='width:65.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>
	&#9679;</p>
  </td>
  <td width=551 valign=top style='width:413.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>First Supplemental Indenture
  to the November 2, 2006 Indenture, dated as of<br>
  November 29, 2006<br>
  U.S. Bank National Association, as Trustee</p>
  </td>
 </tr>
 <tr>
  <td width=87 valign=top style='width:65.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>
	&#9679;</p>
  </td>
  <td width=551 valign=top style='width:413.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>Second Supplemental Indenture
  to the November 2, 2006 Indenture, dated as of<br>
  March 12, 2007<br>
  U.S. Bank National Association, as Trustee</p>
  </td>
 </tr>
 <tr>
  <td width=87 valign=top style='width:65.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>
	&#9679;</p>
  </td>
  <td width=551 valign=top style='width:413.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>Third Supplemental Indenture
  to the November 2, 2006 Indenture, dated as of<br>
  March 12, 2007<br>
  U.S. Bank National Association, as Trustee</p>
  </td>
 </tr>
 <tr>
  <td width=87 valign=top style='width:65.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>
	&#9679;</p>
  </td>
  <td width=551 valign=top style='width:413.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>Fourth Supplemental Indenture
  to the November 2, 2006 Indenture, dated as of<br>
  August 31, 2007<br>
  U.S. Bank National Association, as Trustee</p>
  </td>
 </tr>
 <tr>
  <td width=87 valign=top style='width:65.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>
	&#9679;</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=551 valign=top style='width:413.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>Fifth Supplemental Indenture
  to the November 2, 2006 Indenture, dated as of<br>
  June 26, 2008<br>
  U.S. Bank National Association, as Trustee</p>
  </td>
 </tr>
 <tr>
  <td width=638 colspan=2 valign=top style='width:6.65in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>Indenture dated as of
  December 9, 2009<br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Bank of New York Mellon Trust Company, N.A. as Trustee</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Amended and Restated Lease between B. Bros. Realty Limited
Partnership, as Landlord, and&nbsp;&nbsp;&nbsp;&nbsp; Bloomingdale&#146;s, Inc., as Tenant, dated as of
February 1, 1998</p>

<br
clear=all style='page-break-before:always'>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:30.0pt;text-indent:4.5in'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:30.0pt;text-indent:4.5in'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:30.0pt;text-indent:4.5in'>EXHIBIT A&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:24.0pt;text-align:center'>ASSIGNMENT
AND ASSUMPTION</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:1.0in'>Reference is
hereby made to the Credit Agreement dated as of June 20, 2011 (as amended,
supplemented or otherwise modified from time to time, the &#147;<u>Credit Agreement</u>&#148;),
among Macy&#146;s Inc., a Delaware corporation (&#147;<u>Parent</u>&#148;), Macy&#146;s Retail
Holdings, Inc., a New York corporation (the &#147;<u>Borrower</u>&#148;), the Lenders
from time to time party thereto, Bank of America, N.A. and JPMorgan Chase Bank,
N.A., as Administrative Agents, and JPMorgan Chase Bank, N.A., as Paying Agent,
and each lender from time to time party thereto.&nbsp; Terms defined in the Credit
Agreement are used herein with the same meanings.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:1.0in'>The Assignor
named below hereby sells and assigns, without recourse, to the Assignee named
below, and the Assignee hereby purchases and assumes, without recourse, from
the Assignor, effective as of the Assignment Date set forth below, the
interests set forth below (the &#147;<u>Assigned Interest</u>&#148;) in the Assignor&#146;s
rights and obligations under the Credit Agreement, including the interests set
forth below in the Commitment of the Assignor on the Assignment Date and
Competitive Loans and Revolving Loans owing to the Assignor which are
outstanding on the Assignment Date, together with the participations in Letters
of Credit and LC Disbursements held by the Assignor on the Assignment Date, but
excluding accrued interest and fees to and excluding the Assignment Date.&nbsp; The
Assignee hereby acknowledges receipt of a copy of the Credit Agreement.&nbsp; From
and after the Assignment Date (i) the Assignee shall be a party to and be bound
by the provisions of the Credit Agreement and, to the extent of the Assigned
Interest, have the rights and obligations of a Lender thereunder and (ii) the
Assignor shall, to the extent of the Assigned Interest, relinquish its rights
and be released from its obligations under the Credit Agreement.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:1.0in'>This
Assignment and Acceptance is being delivered to the Paying Agent together with
(i) if the Assignee is a Foreign Lender, any documentation required to be
delivered by the Assignee pursuant to Section 2.17(e) of the Credit Agreement,
duly completed and executed by the Assignee, and (ii) if the Assignee is not
already a Lender under the Credit Agreement, an Administrative Questionnaire in
the form supplied by the Paying Agent, duly completed by the Assignee.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:1.0in'>This
Assignment and Acceptance shall be governed by and construed in accordance with
the laws of the State of New&nbsp;York.</p>

<br
clear=all style='page-break-before:always'>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>Date of Assignment: [&#9679;]</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>Legal Name of Assignor:
[&#9679;]</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>Legal Name of Assignee:
[&#9679;]</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Assignee&#146;s Address for Notices: [&#9679;]</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Effective Date of Assignment</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>(&#147;Assignment Date&#148;): [&#9679;]</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0
 style='border-collapse:collapse;border:none'>
 <tr>
  <td width=197 valign=bottom style='width:2.05in;border:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Facility</p>
  </td>
  <td width=197 valign=bottom style='width:2.05in;border:solid windowtext 1.0pt;
  border-left:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Principal Amount Assigned (and identifying information as
  to individual Competitive Loans)</p>
  </td>
  <td width=197 valign=bottom style='width:2.05in;border:solid windowtext 1.0pt;
  border-left:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Percentage Assigned of Facility and Commitment (set forth,
  to at least 8 decimals, as a percentage of the total Facility and the
  aggregate Commitments of all Lenders thereunder)</p>
  </td>
 </tr>
 <tr>
  <td width=197 valign=top style='width:2.05in;border:solid windowtext 1.0pt;
  border-top:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:3.4pt'>Commitment Assigned:</p>
  </td>
  <td width=197 valign=top style='width:2.05in;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:3.4pt'>&nbsp;</p>
  </td>
  <td width=197 valign=top style='width:2.05in;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:3.4pt'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=197 valign=top style='width:2.05in;border:solid windowtext 1.0pt;
  border-top:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:3.4pt'>Revolving Loans:</p>
  </td>
  <td width=197 valign=top style='width:2.05in;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:3.4pt'>&nbsp;</p>
  </td>
  <td width=197 valign=top style='width:2.05in;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:3.4pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>
  </td>
 </tr>
 <tr>
  <td width=197 valign=top style='width:2.05in;border:solid windowtext 1.0pt;
  border-top:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:3.4pt'>Competitive Loans:</p>
  </td>
  <td width=197 valign=top style='width:2.05in;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:3.4pt'>&nbsp;</p>
  </td>
  <td width=197 valign=top style='width:2.05in;border-top:none;border-left:
  none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:3.4pt'>&nbsp;</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<br
clear=all style='page-break-before:always'>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>The terms hereof are hereby
agreed to:</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:3.5in'>[&#9679;], as Assignor<br>
<br>
</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:3.5in'>By:________________________</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:3.5in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name:</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:3.5in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title:</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:3.5in'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:3.5in'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:3.5in'>[&#9679;], as Assignee</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:3.5in'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:3.5in'>By: _______________________</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:3.5in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name:</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:3.5in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title:</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:3.5in'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:24.0pt'>The undersigned hereby consent
to the within assignment:<sup><font style="font-size: 11.0pt"> </font></sup></p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0
 style='border-collapse:collapse'>
 <tr>
  <td width=295 valign=top style='width:221.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>Macy&#146;s, Inc.,&nbsp; </p>
  </td>
  <td width=295 valign=top style='width:221.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>Macy&#146;s Retail Holdings, Inc.,</p>
  </td>
 </tr>
 <tr>
  <td width=295 valign=top style='width:221.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>By:_______________________</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>By:_______________________</p>
  </td>
 </tr>
 <tr>
  <td width=295 valign=top style='width:221.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name:</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>
  </td>
  <td width=295 valign=top style='width:221.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name:</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>
  </td>
 </tr>
 <tr>
  <td width=295 valign=top style='width:221.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>JPMorgan Chase Bank, N.A., as
  Paying Agent, Issuing Bank and Swingline Lender,</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Bank of America, N.A., as Issuing Bank and Swingline
  Lender,</p>
  </td>
 </tr>
 <tr>
  <td width=295 valign=top style='width:221.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>By:____________________</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>By:____________________</p>
  </td>
 </tr>
 <tr>
  <td width=295 valign=top style='width:221.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name:</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title:</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name:</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title:</p>
  </td>
 </tr>
 <tr>
  <td width=295 valign=top style='width:221.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>[&#9679;], as [Issuing Bank] [and] [Swingline Lender],</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=295 valign=top style='width:221.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>By:____________________</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=295 valign=top style='width:221.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name:</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title:</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>&nbsp;</p>

&nbsp;<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>

<br
clear=all style='page-break-before:always'>

</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:4.0in;text-indent:.5in'>EXHIBIT B</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:4.0in;text-indent:.5in'>&nbsp;</p>

<div align=center>

<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0
 style='border-collapse:collapse;border:none'>
 <tr style='page-break-inside:avoid;height:610.5pt'>
  <td width=590 style='width:6.15in;border-top:double windowtext 1.5pt;
  border-left:none;border-bottom:double windowtext 1.5pt;border-right:none;
  padding:0in 5.4pt 0in 5.4pt;height:610.5pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-align:center;
  line-height:18.0pt;vertical-align:baseline'>GUARANTEE
  AGREEMENT</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-align:center;
  line-height:18.0pt;vertical-align:baseline'>dated as of</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-align:center;
  line-height:18.0pt;vertical-align:baseline'>June 20,&nbsp;2011,</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-align:center;
  line-height:18.0pt;vertical-align:baseline'>among</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center;line-height:18.0pt;
  vertical-align:baseline'>Macy&#146;s, Inc.</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center;line-height:18.0pt;
  vertical-align:baseline'>Macy&#146;s Retail
  Holdings, Inc.</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-align:center;
  line-height:18.0pt;vertical-align:baseline'>the
  subsidiary guarantors PARTY HERETO</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-align:center;
  line-height:18.0pt;vertical-align:baseline'>and</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-align:center;
  line-height:18.0pt;vertical-align:baseline'>JPMORGAN
  CHASE BANK, N.A.,</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-align:center;
  line-height:18.0pt;vertical-align:baseline'>as Paying Agent</p>
  </td>
 </tr>
</table>

</div>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right;line-height:18.0pt;
vertical-align:baseline'>[Reference No. 6701-495]</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:.5in;text-align:center;
line-height:18.0pt;vertical-align:baseline'>TABLE OF CONTENTS</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-align:center;
line-height:18.0pt;page-break-after:avoid;vertical-align:baseline'>ARTICLE I<br>
<br>
Definitions</p>

<p class=MsoNormalCxSpMiddle style='margin-top:0in;margin-right:0in;margin-bottom:
12.0pt;margin-left:96.0pt;text-align:justify;text-indent:-96.0pt;line-height:
18.0pt;vertical-align:baseline'>SECTION 1.01. Credit Agreement..................................................................................... 1</p>

<p class=MsoNormalCxSpMiddle style='margin-top:0in;margin-right:0in;margin-bottom:
12.0pt;margin-left:96.0pt;text-align:justify;text-indent:-96.0pt;line-height:
18.0pt;vertical-align:baseline'>SECTION 1.02. Other Defined Terms................................................................................ 1</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-align:center;
line-height:18.0pt;page-break-after:avoid;vertical-align:baseline'>ARTICLE II<br>
<br>
Guarantee</p>

<p class=MsoNormalCxSpMiddle style='margin-top:0in;margin-right:0in;margin-bottom:
12.0pt;margin-left:96.0pt;text-align:justify;text-indent:-96.0pt;line-height:
18.0pt;vertical-align:baseline'>SECTION 2.01. Guarantee................................................................................................. 2</p>

<p class=MsoNormalCxSpMiddle style='margin-top:0in;margin-right:0in;margin-bottom:
12.0pt;margin-left:96.0pt;text-align:justify;text-indent:-96.0pt;line-height:
18.0pt;vertical-align:baseline'>SECTION 2.02. Guarantee of Payment............................................................................... 3</p>

<p class=MsoNormalCxSpMiddle style='margin-top:0in;margin-right:0in;margin-bottom:
12.0pt;margin-left:96.0pt;text-align:justify;text-indent:-96.0pt;line-height:
18.0pt;vertical-align:baseline'>SECTION 2.03. Limitations................................................................................................ 3</p>

<p class=MsoNormalCxSpMiddle style='margin-top:0in;margin-right:0in;margin-bottom:
12.0pt;margin-left:96.0pt;text-align:justify;text-indent:-96.0pt;line-height:
18.0pt;vertical-align:baseline'>SECTION 2.04. Reinstatement........................................................................................... 4</p>

<p class=MsoNormalCxSpMiddle style='margin-top:0in;margin-right:0in;margin-bottom:
12.0pt;margin-left:96.0pt;text-align:justify;text-indent:-96.0pt;line-height:
18.0pt;vertical-align:baseline'>SECTION 2.05. Agreement To Pay; Subrogation............................................................... 4</p>

<p class=MsoNormalCxSpMiddle style='margin-top:0in;margin-right:0in;margin-bottom:
12.0pt;margin-left:96.0pt;text-align:justify;text-indent:-96.0pt;line-height:
18.0pt;vertical-align:baseline'>SECTION 2.06. Information............................................................................................... 4</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-align:center;
line-height:18.0pt;page-break-after:avoid;vertical-align:baseline'>ARTICLE III<br>
<br>
Indemnity, Subrogation and Subordination</p>

<p class=MsoNormalCxSpMiddle style='margin-top:0in;margin-right:0in;margin-bottom:
12.0pt;margin-left:96.0pt;text-align:justify;text-indent:-96.0pt;line-height:
18.0pt;vertical-align:baseline'>SECTION 3.01. Indemnity and Subrogation....................................................................... 4</p>

<p class=MsoNormalCxSpMiddle style='margin-top:0in;margin-right:0in;margin-bottom:
12.0pt;margin-left:96.0pt;text-align:justify;text-indent:-96.0pt;line-height:
18.0pt;vertical-align:baseline'>SECTION 3.02. Contribution and Subrogation................................................................... 5</p>

<p class=MsoNormalCxSpMiddle style='margin-top:0in;margin-right:0in;margin-bottom:
12.0pt;margin-left:96.0pt;text-align:justify;text-indent:-96.0pt;line-height:
18.0pt;vertical-align:baseline'>SECTION 3.03. Subordination........................................................................................... 5</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-align:center;
line-height:18.0pt;page-break-after:avoid;vertical-align:baseline'>ARTICLE IV<br>
<br>
Miscellaneous</p>

<p class=MsoNormalCxSpMiddle style='margin-top:0in;margin-right:0in;margin-bottom:
12.0pt;margin-left:96.0pt;text-align:justify;text-indent:-96.0pt;line-height:
18.0pt;vertical-align:baseline'>SECTION 4.01. Notices.................................................................................................... 5</p>

<p class=MsoNormalCxSpMiddle style='margin-top:0in;margin-right:0in;margin-bottom:
12.0pt;margin-left:96.0pt;text-align:justify;text-indent:-96.0pt;line-height:
18.0pt;vertical-align:baseline'>SECTION 4.02. Waivers; Amendment............................................................................... 5</p>

<p class=MsoNormalCxSpMiddle style='margin-top:0in;margin-right:0in;margin-bottom:
12.0pt;margin-left:96.0pt;text-align:justify;text-indent:-96.0pt;line-height:
18.0pt;vertical-align:baseline'>SECTION 4.03. Successors and Assigns............................................................................ 6</p>

<p class=MsoNormalCxSpMiddle style='margin-top:0in;margin-right:0in;margin-bottom:
12.0pt;margin-left:96.0pt;text-align:justify;text-indent:-96.0pt;line-height:
18.0pt;vertical-align:baseline'>SECTION 4.04. Survival of Agreement.............................................................................. 6</p>

<p class=MsoNormalCxSpMiddle style='margin-top:0in;margin-right:0in;margin-bottom:
12.0pt;margin-left:96.0pt;text-align:justify;text-indent:-96.0pt;line-height:
18.0pt;vertical-align:baseline'>SECTION 4.05. Counterparts; Effectiveness;
Several Agreement....................................... 6</p>

<p class=MsoNormalCxSpMiddle style='margin-top:0in;margin-right:0in;margin-bottom:
12.0pt;margin-left:96.0pt;text-align:justify;text-indent:-96.0pt;line-height:
18.0pt;vertical-align:baseline'>SECTION 4.06. Severability.............................................................................................. 7</p>

<p class=MsoNormalCxSpMiddle style='margin-top:0in;margin-right:0in;margin-bottom:
12.0pt;margin-left:96.0pt;text-align:justify;text-indent:-96.0pt;line-height:
18.0pt;vertical-align:baseline'>SECTION 4.07. Right of Set-Off....................................................................................... 7</p>

<p class=MsoNormalCxSpMiddle style='margin-top:0in;margin-right:0in;margin-bottom:
12.0pt;margin-left:96.0pt;text-align:justify;text-indent:-96.0pt;line-height:
18.0pt;vertical-align:baseline'>SECTION 4.08. Governing Law........................................................................................ 7</p>

<p class=MsoNormalCxSpMiddle style='margin-top:0in;margin-right:0in;margin-bottom:
12.0pt;margin-left:96.0pt;text-align:justify;text-indent:-96.0pt;line-height:
18.0pt;vertical-align:baseline'>SECTION 4.09. Headings................................................................................................. 7</p>

<p class=MsoNormalCxSpMiddle style='margin-top:0in;margin-right:0in;margin-bottom:
12.0pt;margin-left:96.0pt;text-align:justify;text-indent:-96.0pt;line-height:
18.0pt;vertical-align:baseline'>SECTION 4.10. Termination or Release............................................................................. 7</p>

<p class=MsoNormalCxSpMiddle style='margin-top:0in;margin-right:0in;margin-bottom:
12.0pt;margin-left:96.0pt;text-align:justify;text-indent:-96.0pt;line-height:
18.0pt;vertical-align:baseline'>&nbsp;</p>

<p class=MsoNormalCxSpMiddle style='margin-left:96.0pt;text-align:justify;
text-indent:-96.0pt;line-height:18.0pt;vertical-align:baseline'>Schedule A &#150;
List of Initial Subsidiary Guarantors</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
baseline'>Schedule B -- Subordination Terms</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
baseline'>Exhibit A &#150; Supplement to the Guarantee Agreement</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
baseline'>&nbsp;</p>

</div>

<br
clear=all style='page-break-before:always'>

<div style='page:WordSection9;'>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:1.5in;text-indent:.5in;vertical-align:
baseline'>GUARANTEE AGREEMENT dated as of June&nbsp;20,&nbsp;2011, among
MACY&#146;S, INC. (&#147;<u>Parent</u>&#148;), MACY&#146;S RETAIL HOLDINGS, INC. (the &#147;<u>Borrower</u>&#148;),
the SUBSIDIARY GUARANTORS party hereto and JPMORGAN CHASE BANK, N.A., as Paying
Agent.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:1.5in;text-indent:.5in;vertical-align:
baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;text-indent:1.0in;vertical-align:
baseline'>Reference is made to the Credit Agreement dated as of
June&nbsp;20,&nbsp;2011 (as amended, supplemented or otherwise modified from
time to time, the &#147;<u>Credit Agreement</u>&#148;) among Parent, the Borrower, the
lenders party thereto, JPMorgan Chase Bank, N.A. and Bank of America, N.A., as
administrative agents and JPMorgan Chase Bank, N.A., as paying agent.&nbsp; The
obligations of the Lenders and the Issuing Banks to extend credit to the
Borrower are conditioned upon, among other things, the execution and delivery
of this Agreement.&nbsp; Parent is the parent company of the Borrower, will derive
substantial benefits from the extension of credit to the Borrower pursuant to
the Credit Agreement and is willing to execute and deliver this Agreement in
order to induce the Lenders to extend such credit.&nbsp; The Subsidiary Guarantors
are subsidiaries of the Borrower, will derive substantial benefits from the
extension of credit to the Borrower pursuant to the Credit Agreement and are
willing to execute and deliver this Agreement in order to induce the Lenders to
extend such credit.&nbsp; Accordingly, the parties hereto agree as follows:</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;text-indent:1.0in;vertical-align:
baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;
margin-bottom:12.0pt;margin-left:0in;text-align:center;text-indent:0in;
line-height:18.0pt;page-break-after:avoid;vertical-align:baseline'>ARTICLE I<i><br>
<a name="_Toc107220080"><br>
</a></i>Definitions</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:0in;text-align:justify;text-indent:1.0in;
vertical-align:baseline'><a name="_Toc107220081">SECTION
1.01. <u>Credit Agreement.</u>&nbsp; </a>(a)&nbsp; Capitalized terms used in this
Agreement and not otherwise defined herein have the meanings specified in the
Credit Agreement.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:0in;text-align:justify;text-indent:1.0in;
vertical-align:baseline'>(b)&nbsp;
The rules of construction specified in Section 1.03 of the Credit
Agreement also apply to this Agreement.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;vertical-align:baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:0in;text-align:justify;text-indent:1.0in;
vertical-align:baseline'>SECTION 1.02. <u>Other
Defined Terms.</u>&nbsp; As used in this Agreement, the following terms have the
meanings specified below:</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;vertical-align:baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;text-indent:1.0in;vertical-align:
baseline'>&#147;<u>Claiming Party</u>&#148; has the meaning assigned to such term in
Section 3.02 of this Agreement.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;text-indent:1.0in;vertical-align:
baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;text-indent:1.0in;vertical-align:
baseline'>&#147;<u>Contributing Party</u>&#148; has the meaning assigned to such term in
Section 3.02 of this Agreement.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;text-indent:1.0in;vertical-align:
baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;text-indent:1.0in;vertical-align:
baseline'>&#147;<u>Credit Agreement</u>&#148; has the meaning assigned to such term in
the preliminary statement of this Agreement.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;text-indent:1.0in;vertical-align:
baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;text-indent:1.0in;vertical-align:
baseline'>&#147;<u>Credit Parties</u>&#148; means (a)&nbsp;the Lenders, (b)&nbsp;the
Agents, (c)&nbsp;the Issuing Banks, (d)&nbsp;the beneficiaries of the
Borrower&#146;s indemnification obligations under the Credit Agreement and
(e)&nbsp;the successors and assigns of each of the foregoing.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;text-indent:1.0in;vertical-align:
baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-align:justify;text-indent:
1.0in;line-height:18.0pt;vertical-align:baseline'>&#147;<u>Guarantors</u>&#148; means
Parent and the Subsidiary Guarantors.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;text-indent:1.0in;vertical-align:
baseline'>&#147;<u>Obligations</u>&#148; means the due and punctual payment by the
Borrower of (a) the principal of and interest (including interest accruing
during the pendency of any bankruptcy, insolvency, receivership or other
similar proceeding, regardless of whether allowed or allowable in such
proceeding) on the Loans, when and as due, whether at maturity, by
acceleration, upon one or more dates set for prepayment or otherwise, (b) each
payment required to be made by the Borrower under the Credit Agreement in
respect of any Letter of Credit, when and as due, including payments in respect
of reimbursement of disbursements, interest thereon (including interest
accruing during the pendency of any bankruptcy, insolvency, receivership or
other similar proceeding, regardless of whether allowed or allowable in such
proceeding) and obligations to provide cash collateral, and (c) all other monetary
obligations of the Borrower to any of the Credit Parties under the Credit
Agreement and each of the other Loan Documents, including obligations to pay
fees, expense reimbursement obligations and indemnification obligations,
whether primary, secondary, direct, contingent, fixed or otherwise (including
monetary obligations incurred during the pendency of any bankruptcy,
insolvency, receivership or other similar proceeding, regardless of whether
allowed or allowable in such proceeding).</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;text-indent:1.0in;vertical-align:
baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;text-indent:1.0in;vertical-align:
baseline'>&#147;<u>Subsidiary Guarantor</u>&#148; means, at any time, any Subsidiary Loan
Party that is party to this Agreement at such time, except any such Subsidiary
Loan Party the Guarantee hereunder of which has been released and terminated in
accordance with the terms of this Agreement.&nbsp; The initial Subsidiary Guarantors
are listed on Schedule A.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;text-indent:1.0in;vertical-align:
baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;
margin-bottom:12.0pt;margin-left:0in;text-align:center;text-indent:0in;
line-height:18.0pt;page-break-after:avoid;vertical-align:baseline'>ARTICLE II<i><br>
<a name="_Toc107220083"><br>
</a></i>Guarantee</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:0in;text-align:justify;text-indent:1.0in;
vertical-align:baseline'><a name="_Toc107220084">SECTION
2.01. <u>Guarantee.</u>&nbsp; Subject to the limitations set forth herein,
each of the Guarantors unconditionally guarantees, as a primary obligor and not
merely as a surety, the due and punctual payment of the Obligations.&nbsp; Each of
the Guarantors further agrees that the Obligations may be extended or renewed,
in whole or in part, without notice to or further assent from it, and that it
will remain bound upon its guarantee notwithstanding any extension or renewal
of any Obligation.&nbsp; Each Guarantor waives presentment to, demand of payment
from and protest to the Borrower of any of the Obligations, and also waives
notice of acceptance of its guarantee and notice of protest for nonpayment.</a>&nbsp;
Notwithstanding any other provision of this Agreement, the maximum liability of
the Bloomingdale&#146;s Parties with respect to the Obligations under this Agreement
at any time of determination shall be limited to the difference of (a) the
maximum liability that the Bloomingdale&#146;s Parties may have under this Agreement
without causing Bloomingdale&#146;s to fail to be in compliance with Section 26.15
of the Bloomingdale&#146;s Lease <u>minus</u> (b) $10,000,000.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;vertical-align:baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:0in;text-align:justify;text-indent:1.0in;
vertical-align:baseline'><a name="_Toc107220085">SECTION
2.02. <u>Guarantee of Payment.</u>&nbsp; Each of the Guarantors further
agrees that its guarantee hereunder constitutes a guarantee of payment when due
and not of collection, and waives any right to require that any resort be had
by the Paying Agent or any other Credit Party to any security held for the
payment of the Obligations or to any balance of any deposit account or credit
on the books of the Paying Agent or any other Credit Party in favor of the
Borrower or any other Person.</a></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;vertical-align:baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:0in;text-align:justify;text-indent:1.0in;
vertical-align:baseline'><a name="_Toc107220086">SECTION
2.03. <u>Limitations.</u>&nbsp; </a>(a)&nbsp; Except for (x) termination of a
Guarantor&#146;s obligations hereunder as expressly provided in Section 4.10 and (y)
the limitations with respect to the Bloomingdale&#146;s Parties set forth in Section
2.01, the obligations of each Guarantor hereunder shall not be subject to any
reduction, limitation, impairment or termination for any reason, including any
claim of waiver, release, surrender, alteration or compromise, and shall not be
subject to any defense or set-off, counterclaim, recoupment or termination
whatsoever by reason of the invalidity, illegality or unenforceability of the
Obligations or otherwise. &nbsp;Without limiting the generality of the foregoing,
the obligations of each Guarantor hereunder shall not be discharged or impaired
or otherwise affected by (i)&nbsp;the failure of the Paying Agent or any other
Credit Party to assert any claim or demand or to enforce any right or remedy
under the provisions of any Loan Document or otherwise; (ii)&nbsp;any
rescission, waiver, amendment or modification of, or any release from any of
the terms or provisions of, any Loan Document or any other agreement;
(iii)&nbsp;the release of any security held by the Paying Agent or any other
Credit Party for the Obligations or any of them; (iv)&nbsp;any default, failure
or delay, wilful or otherwise, in the payment of the Obligations; or
(v)&nbsp;any other act or omission that may or might in any manner or to any
extent vary the risk of any Guarantor or otherwise operate as a discharge of
any Guarantor as a matter of law or equity (other than the payment in full in
cash of all the Obligations).&nbsp; Each of the Guarantors expressly authorizes the
Credit Parties to take and hold security for the payment and performance of the
Obligations, to exchange, waive or release any or all such security (with or
without consideration), to enforce or apply such security and direct the order
and manner of any sale thereof in their sole discretion or to release or
substitute any one or more other guarantors or obligors upon or in respect of
the Obligations, all without affecting the obligations of any of the Guarantors
hereunder.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;vertical-align:baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:0in;text-align:justify;text-indent:1.0in;
vertical-align:baseline'>(b)&nbsp;
To the fullest extent permitted by applicable law, each Guarantor waives
any defense based on or arising out of any defense of the Borrower or the
unenforceability of the Obligations or any part thereof from any cause, or the
cessation from any cause of the liability of the Borrower, other than the
payment in full in cash of all the Obligations.&nbsp; The Paying Agent and the other
Credit Parties may, at their election, foreclose on any security held by one or
more of them by one or more judicial or nonjudicial sales, accept an assignment
of any such security in lieu of foreclosure, compromise or adjust any part of
the Obligations, make any other accommodation with the Borrower or exercise any
other right or remedy available to them against the Borrower, without affecting
or impairing in any way the liability of any Guarantor hereunder except to the
extent the Obligations have been paid in full in cash.&nbsp; To the fullest extent
permitted by applicable law, each Guarantor waives any defense arising out of
any such election even though such election operates, pursuant to applicable
law, to impair or to extinguish any right of reimbursement or subrogation or
other right or remedy of such Guarantor against the Borrower or any security.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;vertical-align:baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:0in;text-align:justify;text-indent:1.0in;
vertical-align:baseline'><a name="_Toc107220087">SECTION
2.04. <u>Reinstatement.</u>&nbsp; Each Guarantor agrees that its guarantee
hereunder shall continue to be effective or be reinstated, as the case may be,
if at any time payment, or any part thereof, of any Obligation is rescinded or
must otherwise be restored by the Paying Agent or any other Credit Party upon
the bankruptcy or reorganization of the Borrower or otherwise.&nbsp; The provisions
of this Section 2.04 shall survive any termination or release under Section
4.10, other than a release pursuant to Section 4.10(b).</a></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;vertical-align:baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:0in;text-align:justify;text-indent:1.0in;
vertical-align:baseline'><a name="_Toc107220088">SECTION
2.05. <u>Agreement To Pay; Subrogation.</u>&nbsp; In furtherance of the
foregoing and not in limitation of any other right that the Paying Agent or any
other Credit Party has at law or in equity against any Guarantor by virtue
hereof, upon the failure of the Borrower to pay any Obligation when and as the
same shall become due, whether at maturity, by acceleration, after notice of
prepayment or otherwise, each Guarantor hereby promises to and will forthwith
pay, or cause to be paid, to the Paying Agent for distribution to the
applicable Credit Parties in cash the amount of such unpaid Obligation.&nbsp; Upon payment
by any Guarantor of any sums to the Paying Agent as provided above, all rights
of such Guarantor against the Borrower arising as a result thereof by way of
right of subrogation, contribution, reimbursement, indemnity or otherwise shall
in all respects be subject to Article&nbsp;III.</a></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;vertical-align:baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:0in;text-align:justify;text-indent:1.0in;
vertical-align:baseline'><a name="_Toc107220089">SECTION
2.06. <u>Information.</u>&nbsp; Each of the Guarantors assumes all
responsibility for being and keeping itself informed of the Borrower&#146;s
financial condition and assets, and of all other circumstances bearing upon the
risk of nonpayment of the Obligations and the nature, scope and extent of the
risks that such Guarantor assumes and incurs hereunder, and agrees that none of
the Paying Agent or the other Credit Parties will have any duty to advise such
Guarantor of information known to it or any of them regarding such
circumstances or risks.</a></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;
margin-bottom:12.0pt;margin-left:0in;text-align:center;text-indent:0in;
line-height:18.0pt;page-break-after:avoid;vertical-align:baseline'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;
margin-bottom:12.0pt;margin-left:0in;text-align:center;text-indent:0in;
line-height:18.0pt;page-break-after:avoid;vertical-align:baseline'>ARTICLE III<i><br>
<a name="_Toc107220090"><br>
</a></i>Indemnity, Subrogation and Subordination</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:0in;text-align:justify;text-indent:1.0in;
vertical-align:baseline'>SECTION
3.01. &nbsp;<u>Indemnity</u>.&nbsp; In addition to all such rights of indemnity
and subrogation as each of the Subsidiary Guarantors may have under applicable
law (but subject to Section 3.03), Parent and the Borrower jointly and
severally agree that, in the event a payment in respect of any Obligation shall
be made by any Subsidiary Guarantor under this Agreement, Parent and the
Borrower shall indemnify such Subsidiary Guarantor for the full amount of such
payment and such Subsidiary Guarantor shall be subrogated to the rights of the
Person to whom such payment shall have been made to the extent of such payment.</p>

<br
clear=all style='page-break-before:always'>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;vertical-align:baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:0in;text-align:justify;text-indent:1.0in;
vertical-align:baseline'>SECTION
3.02. <u>Contribution and Subrogation</u>.&nbsp; Each Subsidiary Guarantor (a
&#147;<u>Contributing Party</u>&#148;) agrees (subject to Section 3.03) that, in the
event a payment shall be made by any other Subsidiary Guarantor hereunder in
respect of any Obligation and such other Subsidiary Guarantor (the &#147;<u>Claiming
Party</u>&#148;) shall not have been fully indemnified by Parent and the Borrower as
provided in Section 3.01, the Contributing Party shall indemnify the Claiming
Party in an amount equal to the amount of such payment multiplied by a fraction
of which the numerator shall be the net worth of the Contributing Party on the
date hereof and the denominator shall be the aggregate net worth of all the
Subsidiary Guarantors on the date hereof (or, in the case of any Subsidiary
Guarantor becoming a party hereto after the date hereof, the date of the
supplement hereto executed and delivered by such Subsidiary Guarantor); <u>provided</u>,
<u>however</u>, that in the case of the Bloomingdale&#146;s Parties, the numerator
of the foregoing fraction shall be the maximum liability of the Bloomingdale&#146;s
Parties hereunder determined in accordance with Section 2.01.&nbsp; Any Contributing
Party making any payment to a Claiming Party pursuant to this Section 3.02
shall be subrogated to the rights of such Claiming Party under Section 3.01 to
the extent of such payment.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;vertical-align:baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:0in;text-align:justify;text-indent:1.0in;
vertical-align:baseline'>SECTION
3.03. <u>Subordination</u>.&nbsp; (a)&nbsp; Notwithstanding any provision of this
Agreement to the contrary, all rights of each Subsidiary Guarantor under
Sections 3.01 and 3.02 and all other rights of each Guarantor in respect of
indemnity, contribution or subrogation under applicable law or otherwise, shall
be fully subordinated to the indefeasible payment in full in cash of the
Obligations on the terms set forth in Schedule B hereto.&nbsp; No failure on the
part of the Borrower or any Guarantor to make the payments required by Sections
3.01 and 3.02 (or any other payments required under applicable law or
otherwise) shall in any respect limit the obligations and liabilities of any
Guarantor with respect to its obligations hereunder, and each Guarantor shall
remain liable for the full amount of the obligations of such Guarantor hereunder.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;vertical-align:baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;text-indent:1.0in;vertical-align:
baseline'>(b)&nbsp; Each of the Borrower and the Guarantors hereby agrees that all
Indebtedness and other monetary obligations owed by it to Parent, the Borrower
or any other Subsidiary shall be fully subordinated to the indefeasible payment
in full in cash of the Obligations on the terms set forth in Schedule B
hereto.&nbsp; </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;text-indent:1.0in;vertical-align:
baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;
margin-bottom:12.0pt;margin-left:0in;text-align:center;text-indent:0in;
line-height:18.0pt;page-break-after:avoid;vertical-align:baseline'>ARTICLE IV<i><br>
<a name="_Toc107220091"><br>
</a></i>Miscellaneous</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:0in;text-align:justify;text-indent:1.0in;
vertical-align:baseline'><a name="_Toc107220092">SECTION
4.01. <u>Notices.</u>&nbsp; All communications and notices hereunder shall
(except as otherwise expressly permitted herein) be in writing and given as
provided in Section&nbsp;9.01 of the Credit Agreement.&nbsp; All communications and
notices to any Subsidiary Guarantor shall be given to such Subsidiary Guarantor
in care of the Borrower. </a></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;vertical-align:baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:0in;text-align:justify;text-indent:1.0in;
vertical-align:baseline'><a name="_Toc107220093">SECTION
4.02. <u>Waivers; Amendment.</u>&nbsp; </a>(a)&nbsp; No failure or delay by any
Agent, any Issuing Bank or any Lender in exercising any right or power
hereunder or under the Credit Agreement shall operate as a waiver thereof, nor
shall any single or partial exercise of any such right or power, or any
abandonment or discontinuance of steps to enforce such a right or power, preclude
any other or further exercise thereof or the exercise of any other right or
power.&nbsp; The rights and remedies of the Agents, the Issuing Banks and the
Lenders hereunder and under the Credit Agreement are cumulative and are not
exclusive of any rights or remedies that they would otherwise have.&nbsp; No waiver
of any provision of this Agreement or consent to any departure by any Loan
Party therefrom shall in any event be effective unless the same shall be
permitted by paragraph&nbsp;(b) of this Section 4.02, and then such waiver or
consent shall be effective only in the specific instance and for the purpose
for which given.&nbsp; Without limiting the generality of the foregoing, the making
of a Loan or issuance of a Letter of Credit shall not be construed as a waiver
of any Default, regardless of whether any Agent, any Lender or any Issuing Bank
may have had notice or knowledge of such Default at the time.&nbsp; No notice or
demand on any Loan Party in any case shall entitle any Loan Party to any other
or further notice or demand in similar or other circumstances.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;vertical-align:baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:0in;text-align:justify;text-indent:1.0in;
line-height:12.0pt;vertical-align:baseline'>(b)&nbsp;
Neither this Agreement nor any provision hereof may be waived, amended
or modified except pursuant to an agreement or agreements in writing entered
into by the Paying Agent and the Loan Party or Loan Parties with respect to
which such waiver, amendment or modification is to apply, subject to any
consent required in accordance with Section&nbsp;9.02 of the Credit Agreement.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;vertical-align:baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:0in;text-align:justify;text-indent:1.0in;
vertical-align:baseline'><a name="_Toc107220094">SECTION
4.03. <u>Successors and Assigns.</u>&nbsp; Whenever in this Agreement any
party hereto is referred to, such reference shall be deemed to include the
permitted successors and assigns of such party; and all covenants, promises and
agreements by or on behalf of any Guarantor, the Borrower or the Paying Agent
that are contained in this Agreement shall bind and inure to the benefit of
their respective successors and assigns.</a></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;vertical-align:baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:0in;text-align:justify;text-indent:1.0in;
vertical-align:baseline'><a name="_Toc107220095">SECTION
4.04. <u>Survival of Agreement.</u>&nbsp; All covenants, agreements,
representations and warranties made by the Loan Parties in the Loan Documents
and in the certificates or other instruments prepared or delivered in connection
with or pursuant to this Agreement or any other Loan Document shall be
considered to have been relied upon by the Lenders and shall survive the
execution and delivery of the Loan Documents and the making of any Loans and
issuance of any Letters of Credit, regardless of any investigation made by any
Lender or on its behalf and notwithstanding that any Agent, any Issuing Bank or
any Lender may have had notice or knowledge of any Default or incorrect
representation or warranty at the time any credit is extended under the Credit
Agreement, and shall continue in full force and effect as long as the principal
of or any accrued interest on any Loan or any fee or any other amount payable
under any Loan Document is outstanding and unpaid or any Letter of Credit is outstanding
and so long as the Commitments have not expired or terminated.</a></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;vertical-align:baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:0in;text-align:justify;text-indent:1.0in;
vertical-align:baseline'><a name="_Toc107220096">SECTION
4.05. <u>Counterparts; Effectiveness; Several Agreement.</u>&nbsp; This
Agreement may be executed in counterparts (and by different parties hereto on
different counterparts), each of which shall constitute an original but all of
which when taken together shall constitute single contract.&nbsp; Delivery of an
executed signature page to this Agreement by facsimile transmission shall be as
effective as delivery of a manually signed counterpart of this Agreement.&nbsp; This
Agreement shall become effective when it shall have been executed by the Paying
Agent and when the Paying Agent shall have received counterparts hereof which,
when taken together, bear the signatures of each Loan Party, and thereafter
shall be binding upon each Loan Party and the Paying Agent, and shall inure to
the benefit of each Loan Party, the Paying Agent and the other Credit Parties
and their respective successors and assigns, except that no Loan Party shall
have the right to assign or transfer its rights or obligations hereunder or any
interest herein (and any such assignment or transfer shall be void) except as
expressly contemplated by this Agreement or the Credit Agreement.</a></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;vertical-align:baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:0in;text-align:justify;text-indent:1.0in;
vertical-align:baseline'><a name="_Toc107220097">SECTION
4.06. <u>Severability.</u>&nbsp; Any provision of this Agreement held to be
invalid, illegal or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such invalidity, illegality or
uneforceability without affecting the validity, legality and enforceability of
the remaining provisions hereof; and the invalidity of a particular provision
in a particular jurisdiction shall not invalidate such provision in any other
jurisdiction.&nbsp; The parties shall endeavor in good&#8209;faith negotiations to
replace the invalid, illegal or unenforceable provisions with valid provisions
the economic effect of which comes as close as possible to that of the invalid,
illegal or unenforceable provisions.</a></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;vertical-align:baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:0in;text-align:justify;text-indent:1.0in;
vertical-align:baseline'><a name="_Toc107220098">SECTION
4.07. <u>Right of Set-Off.</u>&nbsp; If an Event of Default shall have
occurred and be continuing, each Lender and each of its Affiliates is hereby
authorized at any time and from time to time, to the fullest extent permitted
by law, to set off and apply any and all deposits (general or special, time or
demand, provisional or final) at any time held and other obligations at any
time owing by such Lender or Affiliate to or for the credit or the account of
any Guarantor against any of and all the obligations of such Guarantor now or
hereafter existing under this Agreement owed to such Lender, irrespective of
whether or not any demand for payment thereof has been made under this
Agreement and although such obligations may be unmatured.&nbsp; The rights of each
Lender under this Section 4.07 are in addition to other rights and remedies
(including other rights of set-off) which such Lender may have.</a></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;vertical-align:baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:0in;text-align:justify;text-indent:1.0in;
vertical-align:baseline'><a name="_Toc107220099">SECTION
4.08. <u>Governing Law.</u>&nbsp; This Agreement shall be construed in
accordance with and governed by the law of the State of New York.</a></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;vertical-align:baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:0in;text-align:justify;text-indent:1.0in;
vertical-align:baseline'><a name="_Toc107220100">SECTION
4.09. <u>Headings.</u>&nbsp; Article and Section headings and the Table of
Contents used herein are for convenience of reference only, are not part of
this Agreement and are not to affect the construction of, or to be taken into
consideration in interpreting, this Agreement.</a></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;vertical-align:baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:0in;text-align:justify;text-indent:1.0in;
vertical-align:baseline'><a name="_Toc107220101">SECTION
4.10. <u>Termination or Release.</u>&nbsp; (a) Subject to Section 2.04, this
Agreement and the guarantees made herein shall terminate when the Commitments
have terminated, all the Obligations have been paid in full, the LC Exposure
has been reduced to zero and the Issuing Banks have no further obligations to
issue Letters of Credit under the Credit Agreement.</a></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;vertical-align:baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;text-indent:1.0in;vertical-align:
baseline'>(b)&nbsp; At any time that the Public Debt Ratings are Baa3 and BBB- (in
each case with stable outlook) or better, the Borrower may by written notice to
the Paying Agent release and terminate the Guarantees hereunder by all or any
one of the Subsidiary Guarantors.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;text-indent:1.0in;vertical-align:
baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;text-indent:1.0in;vertical-align:
baseline'>(c)&nbsp; A Subsidiary Guarantor shall automatically be released from its
obligations hereunder and shall cease to be a party hereto upon the
consummation of any transaction permitted by the Credit Agreement as a result
of which such Subsidiary Guarantor ceases to be a Subsidiary; <u>provided</u>
that the Required Lenders shall have consented to such transaction (to the
extent required by the Credit Agreement) and the terms of such consent did not
provide otherwise.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;text-indent:1.0in;vertical-align:
baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-align:center;
line-height:18.0pt;vertical-align:baseline'>[Remainder of page intentionally
left blank]</p>

</div>

<br
clear=all style='page-break-before:always'>

<div style='page:WordSection10;'>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;text-indent:1.0in;vertical-align:
baseline'>IN WITNESS WHEREOF, the parties hereto have duly executed this
Agreement as of the day and year first above written.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;text-indent:1.0in;vertical-align:
baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;text-indent:1.0in;vertical-align:
baseline'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0
 style='margin-left:3.0in;border-collapse:collapse'>
 <tr>
  <td width=350 colspan=2 valign=top style='width:3.65in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;line-height:18.0pt;vertical-align:
  baseline'>MACY&#146;s, INC.,</p>
  </td>
 </tr>
 <tr>
  <td width=350 colspan=2 valign=top style='width:3.65in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>by</p>
  </td>
 </tr>
 <tr>
  <td width=55 valign=top style='width:41.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
  baseline'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; /s/ Karen M. Hoguet</p>
  </td>
 </tr>
 <tr>
  <td width=55 valign=top style='width:41.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
  baseline'>Name:&nbsp; Karen M. Hoguet</p>
  </td>
 </tr>
 <tr>
  <td width=55 valign=top style='width:41.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
  baseline'>Title: Chief Financial Officer</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
baseline'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0
 style='margin-left:3.0in;border-collapse:collapse'>
 <tr>
  <td width=350 colspan=2 valign=top style='width:3.65in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;line-height:18.0pt;vertical-align:
  baseline'>MACY&#146;S RETAIL HOLDINGS, INC.,</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=0><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=350 colspan=2 valign=top style='width:3.65in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>by</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=0><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=55 valign=top style='width:41.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
  baseline'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; /s/ Karen M. Hoguet</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=0><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=55 valign=top style='width:41.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
  baseline'>Name:&nbsp; Karen M. Hoguet</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=0><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=55 valign=top style='width:41.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
  baseline'>Title:&nbsp;&nbsp; Vice President</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=0><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=55 valign=top style='width:41.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
  baseline'>&nbsp;</p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=0><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=350 colspan=3 valign=top style='width:3.65in;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;line-height:18.0pt;vertical-align:
  baseline'>Bloomingdale&#146;s Atlantic
  City, Inc.,</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=350 colspan=3 valign=top style='width:3.65in;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>by</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=55 valign=top style='width:41.4pt;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=295 colspan=2 valign=top style='width:221.4pt;border:none;
  border-bottom:solid windowtext 1.0pt;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;line-height:
  18.0pt;vertical-align:baseline; margin-right:0in; margin-top:0in'>/s/ Stephen
	J. O'Bryan </p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=55 valign=top style='width:41.4pt;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=295 colspan=2 valign=top style='width:221.4pt;border:none;
  padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
  baseline'>Name:&nbsp; Stephen J. O&#146;Bryan</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=55 valign=top style='width:41.4pt;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=295 colspan=2 valign=top style='width:221.4pt;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.5in;text-align:justify;text-indent:
  -.5in;line-height:18.0pt;vertical-align:baseline'>Title:&nbsp;&nbsp;&nbsp;  Assistant
  Secretary</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
baseline'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0
 style='margin-left:3.0in;border-collapse:collapse'>
 <tr style='page-break-inside:avoid'>
  <td width=350 colspan=2 valign=top style='width:3.65in;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;line-height:18.0pt;vertical-align:
  baseline'>Dayton&#146;s Iron Horse liquors,
  Inc.,</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=350 colspan=2 valign=top style='width:3.65in;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>by</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=55 valign=top style='width:41.4pt;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>/s/ Warren P. Wolfe</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=55 valign=top style='width:41.4pt;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;border:none;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
  baseline'>Name:&nbsp;  Warren P. Wolfe</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=55 valign=top style='width:41.4pt;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.5in;text-align:justify;text-indent:
  -.5in;line-height:18.0pt;vertical-align:baseline'>Title:&nbsp;&nbsp;&nbsp; President</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
baseline'>&nbsp;</p>

<br
clear=all style='page-break-before:always'>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
baseline'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0
 style='margin-left:3.0in;border-collapse:collapse'>
 <tr style='page-break-inside:avoid'>
  <td width=350 colspan=2 valign=top style='width:3.65in;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;line-height:18.0pt;vertical-align:
  baseline'>Macy&#146;s Corporate Services, Inc.,</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=350 colspan=2 valign=top style='width:3.65in;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>by</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=55 valign=top style='width:41.4pt;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>/s/ Brian M. Szames</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=55 valign=top style='width:41.4pt;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;border:none;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
  baseline'>Name:&nbsp; Brian M. Szames</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=55 valign=top style='width:41.4pt;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.5in;text-align:justify;text-indent:
  -.5in;line-height:18.0pt;vertical-align:baseline'>Title:&nbsp;&nbsp;&nbsp; Treasurer</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
baseline'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
baseline'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
baseline'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0
 style='margin-left:3.0in;border-collapse:collapse'>
 <tr style='page-break-inside:avoid'>
  <td width=350 colspan=2 valign=top style='width:3.65in;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;line-height:18.0pt;vertical-align:
  baseline'>Macy&#146;s Hamilton by
  Appointment, Inc.,</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=350 colspan=2 valign=top style='width:3.65in;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>by</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=55 valign=top style='width:41.4pt;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>/s/ Stephen J. O'Bryan</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=55 valign=top style='width:41.4pt;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;border:none;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
  baseline'>Name:&nbsp; Stephen J. O&#146;Bryan</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=55 valign=top style='width:41.4pt;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.5in;text-align:justify;text-indent:
  -.5in;line-height:18.0pt;vertical-align:baseline'>Title:&nbsp;&nbsp;&nbsp; Secretary</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
baseline'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0
 style='margin-left:3.0in;border-collapse:collapse'>
 <tr style='page-break-inside:avoid'>
  <td width=350 colspan=2 valign=top style='width:3.65in;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>Marshall
  Fields Chicago, Inc.,</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=350 colspan=2 valign=top style='width:3.65in;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>by</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=55 valign=top style='width:41.4pt;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>/s/ Warren P. Wolfe</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=55 valign=top style='width:41.4pt;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;border:none;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
  baseline'>Name:&nbsp; Warren P. Wolfe</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=55 valign=top style='width:41.4pt;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.5in;text-align:justify;text-indent:
  -.5in;line-height:18.0pt;vertical-align:baseline'>Title:&nbsp;&nbsp;&nbsp; President</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
baseline'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0
 style='margin-left:3.0in;border-collapse:collapse'>
 <tr style='page-break-inside:avoid'>
  <td width=350 colspan=2 valign=top style='width:3.65in;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;line-height:18.0pt;vertical-align:
  baseline'>Mayfair Wine &amp; Liquor
  Shop, Inc.,</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=350 colspan=2 valign=top style='width:3.65in;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>by</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=55 valign=top style='width:41.4pt;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>/s/ Dennis J. Broderick</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=55 valign=top style='width:41.4pt;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;border:none;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
  baseline'>Name:&nbsp; Dennis J. Broderick</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=55 valign=top style='width:41.4pt;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.5in;text-align:justify;text-indent:
  -.5in;line-height:18.0pt;vertical-align:baseline'>Title:&nbsp;&nbsp;&nbsp; President</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
baseline'>&nbsp;</p>

<br
clear=all style='page-break-before:always'>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
baseline'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0
 style='margin-left:3.0in;border-collapse:collapse'>
 <tr style='page-break-inside:avoid'>
  <td width=350 colspan=2 valign=top style='width:3.65in;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;line-height:18.0pt;vertical-align:
  baseline'>Rooftop, Inc.,</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=350 colspan=2 valign=top style='width:3.65in;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>by</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=55 valign=top style='width:41.4pt;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>/s/ Warren P. Wolfe</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=55 valign=top style='width:41.4pt;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;border:none;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
  baseline'>Name:&nbsp; Warren P. Wolfe</p>
  </td>
 </tr>
 <tr style='page-break-inside:avoid'>
  <td width=55 valign=top style='width:41.4pt;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=295 valign=top style='width:221.4pt;padding:0in 5.75pt 0in 5.75pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.5in;text-align:justify;text-indent:
  -.5in;line-height:18.0pt;vertical-align:baseline'>Title:&nbsp;&nbsp;&nbsp; President</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
baseline'>&nbsp;</p>

<br
clear=all style='page-break-before:always'>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
baseline'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
baseline'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
baseline'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
baseline'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0
 style='margin-left:3.0in;border-collapse:collapse'>
 <tr>
  <td width=302 colspan=2 valign=top style='width:3.15in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>Bloomingdale&#146;s By Mail Ltd.
  Bloomingdale&#146;s Gift Card, LLC</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>Bloomingdale&#146;s The Outlet Store,
  Inc.</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>Bloomingdale&#146;s, Inc.</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>Bloomingdale&#146;s, LLC</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>Central Regional Claims
  Corporation</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>Jordan Servicenter, Inc.</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>Kaufmann&#146;s Carousel, Inc.</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>Laurel Plaza Development I, Inc.</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>Leawood Exchange, LLC</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>Macy&#146;s California Realty, LLC</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>Macy&#146;s Credit and Customer
  Services, Inc.</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>Macy&#146;s Florida Stores, LLC</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>Macy&#146;s Gift Card, LLC</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>Macy&#146;s Insurance, Inc.</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>Macy&#146;s Merchandising Corporation</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>Macy&#146;s Systems and Technology,
  Inc. Macy&#146;s Systems Leasing, Inc.</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>Macy&#146;s West Stores, Inc.</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>Macy&#146;s West Virginia Land
  Leasing, LLC</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>Macys.com, Inc.</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>May Company Montgomery
  Condominium LLC</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>May Properties of Maryland, Inc.</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>May Stores IV, Inc.</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>McIre One, Inc.</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>MF Distribution Center of
  Illinois LLC</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>MF Fargo-Grand Forks-Bismarck
  Stores LLC</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>MF Grape-Coldwater Stores LLC</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>Minooka Exchange, LLC</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>MOA Rest, Inc.</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>Nimbus Stores LLC</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>OBP Development, LLC</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>OBP, LLC</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>R.H. Macy Holdings (HK), Ltd.</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>R.H. Macy Warehouse (HK), Ltd.</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in'>Southdale Stores LLC</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;vertical-align:baseline'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=302 colspan=2 valign=top style='width:3.15in;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>by</p>
  </td>
 </tr>
 <tr>
  <td width=48 valign=top style='width:36.3pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=254 valign=top style='width:190.5pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
  baseline'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; /s/ Brian M. Szames</p>
  </td>
 </tr>
 <tr>
  <td width=48 valign=top style='width:36.3pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=254 valign=top style='width:190.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
  baseline'>Name: Brian M. Szames</p>
  </td>
 </tr>
 <tr>
  <td width=48 valign=top style='width:36.3pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-left:.25in;text-align:justify;line-height:
  18.0pt;vertical-align:baseline'>&nbsp;</p>
  </td>
  <td width=254 valign=top style='width:190.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:18.0pt;vertical-align:
  baseline'>Title:&nbsp;&nbsp; Vice President</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-align:center;
line-height:18.0pt;vertical-align:baseline'>&nbsp;</p>

</div>

<br
clear=all style='page-break-before:always'>

<div style='page:WordSection11;'>

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:11.0pt;text-align:right;
page-break-after:avoid; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;
EXHIBIT C-1</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:11.0pt;text-align:center;
page-break-after:avoid'>[FORM
OF]</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:11.0pt;text-align:center;
page-break-after:avoid'>U.S.&nbsp;TAX
CERTIFICATE</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-align:center'>(For
Non-U.S.&nbsp;Lenders That Are Not Partnerships For U.S.&nbsp;Federal Income
Tax Purposes)</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:1.0in'>Reference is
hereby made to the Credit Agreement dated as of June 20, 2011 (as amended,
supplemented or otherwise modified from time to time, the &#147;Credit Agreement&#148;),
among Macy&#146;s Inc., a Delaware corporation (&#147;<u>Parent</u>&#148;), Macy&#146;s Retail
Holdings, Inc., a New York corporation (the &#147;<u>Borrower</u>&#148;), the Lenders
from time to time party thereto, Bank of America, N.A. and JPMorgan Chase Bank,
N.A., as Administrative Agents, and JPMorgan Chase Bank, N.A., as Paying Agent,
and each lender from time to time party thereto.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:1.0in'>Pursuant to
the provisions of Section&nbsp;2.17 of the Credit Agreement, the undersigned
hereby certifies that (i)&nbsp;it is the sole record and beneficial owner of
the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of
which it is providing this certificate, (ii)&nbsp;it is not a bank within the
meaning of Section&nbsp;881(c)(3)(A) of the Code, (iii)&nbsp;it is not a ten
percent shareholder of the Borrower within the meaning of
Section&nbsp;871(h)(3)(B) of the Code, (iv)&nbsp;it is not a controlled foreign
corporation related to the Borrower as described in Section&nbsp;881(c)(3)(C)
of the Code and (v)&nbsp;the interest payments in question are not effectively
connected with the undersigned&#146;s conduct of a U.S.&nbsp;trade or business.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:1.0in'>The
undersigned has furnished the Administrative Agent and the Borrower with a
certificate of its non-U.S.&nbsp;person status on IRS&nbsp;Form W-8BEN.&nbsp; By
executing this certificate, the undersigned agrees that (1)&nbsp;if the
information provided on this certificate changes, the undersigned shall
promptly so inform the Borrower and the Administrative Agent and (2)&nbsp;the
undersigned shall have at all times furnished the Borrower and the
Administrative Agent with a properly completed and currently effective
certificate in either the calendar year in which each payment is to be made to the
undersigned, or in either of the two calendar years preceding such payments.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:22.0pt;text-indent:1.0in'>Unless
otherwise defined herein, terms defined in the Credit Agreement and used herein
shall have the meanings given to them in the Credit Agreement.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:22.0pt'>[NAME OF LENDER]</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>By:______________________________________<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name:<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title:</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:11.0pt'>Date: ________ __, 20[&nbsp; ]</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:11.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:11.0pt'>&nbsp;</p>

</div>

<p align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
EXHIBIT C-2<br
clear=all style='page-break-before:always'>

</p>

<div style='page:WordSection12;'>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:11.0pt;text-align:center;
page-break-after:avoid'>[FORM
OF]</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center;page-break-after:avoid'>U.S.&nbsp;TAX CERTIFICATE</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-align:center'>(For
Non-U.S.&nbsp;Lenders That Are Partnerships For U.S.&nbsp;Federal Income Tax
Purposes)</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:1.0in'>Reference is
hereby made to the Credit Agreement dated as of June 20, 2011 (as amended,
supplemented or otherwise modified from time to time, the &#147;Credit Agreement&#148;),
among Macy&#146;s Inc., a Delaware corporation (&#147;<u>Parent</u>&#148;), Macy&#146;s Retail
Holdings, Inc., a New York corporation (the &#147;<u>Borrower</u>&#148;), the Lenders
from time to time party thereto, Bank of America, N.A. and JPMorgan Chase Bank,
N.A., as Administrative Agents, and JPMorgan Chase Bank, N.A., as Paying Agent,
and each lender from time to time party thereto.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:1.0in'>Pursuant to
the provisions of Section&nbsp;2.17 of the Credit Agreement, the undersigned
hereby certifies that (i)&nbsp;it is the sole record owner of the Loan(s) (as
well as any Note(s) evidencing such Loan(s)) in respect of which it is
providing this certificate, (ii)&nbsp;its partners/members are the sole
beneficial owners of such Loan(s) (as well as any Note(s) evidencing such
Loan(s)), (iii)&nbsp;with respect to the extension of credit pursuant to this
Credit Agreement, neither the undersigned nor any of its partners/members is a
bank extending credit pursuant to a loan agreement entered into in the ordinary
course of its trade or business within the meaning of Section&nbsp;881(c)(3)(A)
of the Code, (iv)&nbsp;none of its partners/members is a ten percent
shareholder of the Borrower within the meaning of Section&nbsp;871(h)(3)(B) of
the Code, (v)&nbsp;none of its partners/members is a controlled foreign
corporation related to the Borrower as described in Section&nbsp;881(c)(3)(C)
of the Code, and (vi)&nbsp;the interest payments in question are not
effectively connected with the undersigned&#146;s or its partners/members&#146; conduct
of a U.S.&nbsp;trade or business.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:1.0in'>The
undersigned has furnished the Administrative Agent and the Borrower with
IRS&nbsp;Form W-8IMY accompanied by an IRS&nbsp;Form W-8BEN from each of its
partners/members claiming the portfolio interest exemption.&nbsp; By executing this
certificate, the undersigned agrees that (1)&nbsp;if the information provided
on this certificate changes, the undersigned shall promptly so inform the
Borrower and the Administrative Agent and (2)&nbsp;the undersigned shall have
at all times furnished the Borrower and the Administrative Agent with a
properly completed and currently effective certificate in either the calendar
year in which each payment is to be made to the undersigned, or in either of
the two calendar years preceding such payments.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:33.0pt;text-indent:1.0in'>Unless
otherwise defined herein, terms defined in the Credit Agreement and used herein
shall have the meanings given to them in the Credit Agreement.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:22.0pt'>[NAME OF LENDER]</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>By:______________________________________<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name:<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title:</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:11.0pt'>Date: ________ __, 20[&nbsp; ]</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:11.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>&nbsp;</p>

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:11.0pt;text-align:right;
page-break-after:avoid; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
EXHIBIT C-3</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:11.0pt;text-align:center;
page-break-after:avoid'>[FORM
OF]</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center;page-break-after:avoid'>U.S.&nbsp;TAX CERTIFICATE</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-align:center'>(For
Non-U.S.&nbsp;Participants That Are Not Partnerships For U.S.&nbsp;Federal
Income Tax Purposes)</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:1.0in'>Reference is
hereby made to the Credit Agreement dated as of June 20, 2011 (as amended,
supplemented or otherwise modified from time to time, the &#147;Credit Agreement&#148;),
among Macy&#146;s Inc., a Delaware corporation (&#147;<u>Parent</u>&#148;), Macy&#146;s Retail
Holdings, Inc., a New York corporation (the &#147;<u>Borrower</u>&#148;), the Lenders
from time to time party thereto, Bank of America, N.A. and JPMorgan Chase Bank,
N.A., as Administrative Agents, and JPMorgan Chase Bank, N.A., as Paying Agent,
and each lender from time to time party thereto.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:1.0in'>Pursuant to
the provisions of Section&nbsp;2.17 of the Credit Agreement, the undersigned
hereby certifies that (i)&nbsp;it is the sole record and beneficial owner of
the participation in respect of which it is providing this certificate,
(ii)&nbsp;it is not a bank within the meaning of Section&nbsp;881(c)(3)(A) of
the Code, (iii)&nbsp;it is not a ten percent shareholder of the Borrower within
the meaning of Section&nbsp;871(h)(3)(B) of the Code, (iv)&nbsp;it is not a
controlled foreign corporation related to the Borrower as described in
Section&nbsp;881(c)(3)(C) of the Code, and (v)&nbsp;the interest payments in
question are not effectively connected with the undersigned&#146;s conduct of a
U.S.&nbsp;trade or business.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:1.0in'>The
undersigned has furnished its participating Lender with a certificate of its
non-U.S.&nbsp;person status on IRS&nbsp;Form W-8BEN.&nbsp; By executing this
certificate, the undersigned agrees that (1)&nbsp;if the information provided
on this certificate changes, the undersigned shall promptly so inform such
Lender in writing and (2)&nbsp;the undersigned shall have at all times
furnished such Lender with a properly completed and currently effective
certificate in either the calendar year in which each payment is to be made to
the undersigned, or in either of the two calendar years preceding such
payments.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:1.0in'>Unless
otherwise defined herein, terms defined in the Credit Agreement and used herein
shall have the meanings given to them in the Credit Agreement.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:1.0in'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:22.0pt'>[NAME OF LENDER]</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>By:______________________________________<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name:<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title:</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:11.0pt'>Date: ________ __, 20[&nbsp; ]</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:11.0pt'>&nbsp;</p>

</div>

<br
clear=all style='page-break-before:always'>

<div style='page:WordSection13;'>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:right'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:11.0pt;text-align:center;
page-break-after:avoid'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:11.0pt;text-align:center;
page-break-after:avoid'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:11.0pt;text-align:right;
page-break-after:avoid; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;
EXHIBIT C-4</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:11.0pt;text-align:center;
page-break-after:avoid'>[FORM
OF]</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center;page-break-after:avoid'>U.S.&nbsp;TAX CERTIFICATE</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-align:center'>(For
Non-U.S.&nbsp;Participants That Are Partnerships For U.S.&nbsp;Federal Income
Tax Purposes)</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:1.0in'>Reference is
hereby made to the Credit Agreement dated as of June 20, 2011 (as amended,
supplemented or otherwise modified from time to time, the &#147;Credit Agreement&#148;),
among Macy&#146;s Inc., a Delaware corporation (&#147;<u>Parent</u>&#148;), Macy&#146;s Retail
Holdings, Inc., a New York corporation (the &#147;<u>Borrower</u>&#148;), the Lenders
from time to time party thereto, Bank of America, N.A. and JPMorgan Chase Bank,
N.A., as Administrative Agents, and JPMorgan Chase Bank, N.A., as Paying Agent,
and each lender from time to time party thereto.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:1.0in'>Pursuant to
the provisions of Section&nbsp;2.17 of the Credit Agreement, the undersigned
hereby certifies that (i)&nbsp;it is the sole record owner of the participation
in respect of which it is providing this certificate, (ii)&nbsp;its
partners/members are the sole beneficial owners of such participation, (iii)&nbsp;with
respect such participation, neither the undersigned nor any of its
partners/members is a bank extending credit pursuant to a loan agreement
entered into in the ordinary course of its trade or business within the meaning
of Section&nbsp;881(c)(3)(A) of the Code, (iv)&nbsp;none of its
partners/members is a ten percent shareholder of the Borrower within the
meaning of Section&nbsp;871(h)(3)(B) of the Code, (v)&nbsp;none of its
partners/members is a controlled foreign corporation related to the Borrower as
described in Section&nbsp;881(c)(3)(C) of the Code, and (vi)&nbsp;the interest
payments in question are not effectively connected with the undersigned&#146;s or
its partners/members&#146; conduct of a U.S.&nbsp;trade or business.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:1.0in'>The
undersigned has furnished its participating Lender with IRS&nbsp;Form W-8IMY accompanied
by an IRS&nbsp;Form W-8BEN from each of its partners/members claiming the
portfolio interest exemption.&nbsp; By executing this certificate, the undersigned
agrees that (1)&nbsp;if the information provided on this certificate changes,
the undersigned shall promptly so inform such Lender and (2)&nbsp;the
undersigned shall have at all times furnished such Lender with a properly
completed and currently effective certificate in either the calendar year in
which each payment is to be made to the undersigned, or in either of the two
calendar years preceding such payments.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:1.0in'>Unless
otherwise defined herein, terms defined in the Credit Agreement and used herein
shall have the meanings given to them in the Credit Agreement.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:22.0pt'>[NAME OF PARTICIPANT]</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>By:______________________________________<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name:<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title:</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:11.0pt'>Date: ________ __, 20[&nbsp; ]</p>

</div>

</body>

</html>Exhibit 10.02	
  GUARANTEE AGREEMENT

  dated
  as of

  June
  20, 2011,

  among

  
	Macy’s, Inc.

  
	Macy’s Retail Holdings, Inc.

  the subsidiary guarantors PARTY HERETO

  and

  JPMORGAN CHASE BANK, N.A.,

  as
  Paying Agent

  

[Reference No.
6701-495]

 

TABLE
OF CONTENTS

ARTICLE I

Definitions

SECTION 1.01. Credit Agreement..................................................................................... 1

SECTION 1.02. Other Defined Terms................................................................................ 1

ARTICLE II

Guarantee

SECTION 2.01. Guarantee................................................................................................. 2

SECTION 2.02. Guarantee of Payment............................................................................... 2

SECTION 2.03. Limitations................................................................................................ 3

SECTION 2.04. Reinstatement........................................................................................... 4

SECTION 2.05. Agreement To Pay; Subrogation............................................................... 4

SECTION 2.06. Information............................................................................................... 4

ARTICLE III

Indemnity, Subrogation and Subordination

SECTION 3.01. Indemnity and Subrogation....................................................................... 4

SECTION 3.02. Contribution and Subrogation................................................................... 5

SECTION 3.03. Subordination........................................................................................... 5

ARTICLE IV

Miscellaneous

SECTION 4.01. Notices.................................................................................................... 5

SECTION 4.02. Waivers; Amendment............................................................................... 5

SECTION 4.03. Successors and Assigns............................................................................ 6

SECTION 4.04. Survival of Agreement.............................................................................. 6

SECTION 4.05. Counterparts; Effectiveness; Several
Agreement....................................... 6

SECTION 4.06. Severability.............................................................................................. 7

SECTION 4.07. Right of Set-Off....................................................................................... 7

SECTION 4.08. Governing Law........................................................................................ 7

SECTION 4.09. Headings................................................................................................. 7

SECTION 4.10. Termination or Release............................................................................ 7

 

Schedule
A – List of Initial Subsidiary Guarantors

Schedule B -- Subordination Terms

Exhibit A – Supplement to the Guarantee Agreement

 

GUARANTEE AGREEMENT dated as of
June 20, 2011, among MACY’S, INC. (“Parent”), MACY’S RETAIL
HOLDINGS, INC. (the “Borrower”), the SUBSIDIARY GUARANTORS party hereto
and JPMORGAN CHASE BANK, N.A., as Paying Agent.

 

Reference is made to the Credit Agreement dated as of
June 20, 2011 (as amended, supplemented or otherwise modified from
time to time, the “Credit Agreement”) among Parent, the Borrower, the
lenders party thereto, JPMorgan Chase Bank, N.A. and Bank of America, N.A., as
administrative agents and JPMorgan Chase Bank, N.A., as paying agent.  The
obligations of the Lenders and the Issuing Banks to extend credit to the
Borrower are conditioned upon, among other things, the execution and delivery
of this Agreement.  Parent is the parent company of the Borrower, will derive
substantial benefits from the extension of credit to the Borrower pursuant to
the Credit Agreement and is willing to execute and deliver this Agreement in
order to induce the Lenders to extend such credit.  The Subsidiary Guarantors
are subsidiaries of the Borrower, will derive substantial benefits from the
extension of credit to the Borrower pursuant to the Credit Agreement and are
willing to execute and deliver this Agreement in order to induce the Lenders to
extend such credit.  Accordingly, the parties hereto agree as follows:

 

ARTICLE
I

Definitions

SECTION 1.01.  Credit Agreement.  (a)  Capitalized terms used in this Agreement and not otherwise defined herein have the
meanings specified in the Credit Agreement.

(b) 
The rules of construction specified in Section 1.03 of the Credit Agreement
also apply to this Agreement.

 

SECTION 1.02.  Other Defined
Terms.  As used in this Agreement, the following terms have the meanings
specified below:

 

“Claiming Party” has the meaning assigned to such
term in Section 3.02 of this Agreement.

 

“Contributing Party” has the meaning assigned to
such term in Section 3.02 of this Agreement.

 

“Credit Agreement” has the meaning assigned to such
term in the preliminary statement of this Agreement.

 

“Credit Parties” means (a) the Lenders,
(b) the Agents, (c) the Issuing Banks, (d) the beneficiaries of
the Borrower’s indemnification obligations under the Credit Agreement and
(e) the successors and assigns of each of the foregoing.

 

“Guarantors” means Parent and the
Subsidiary Guarantors.

“Obligations” means the due and punctual payment by
the Borrower of (a) the principal of and interest (including interest accruing
during the pendency of any bankruptcy, insolvency, receivership or other
similar proceeding, regardless of whether allowed or allowable in such
proceeding) on the Loans, when and as due, whether at maturity, by
acceleration, upon one or more dates set for prepayment or otherwise, (b) each
payment required to be made by the Borrower under the Credit Agreement in
respect of any Letter of Credit, when and as due, including payments in respect
of reimbursement of disbursements, interest thereon (including interest
accruing during the pendency of any bankruptcy, insolvency, receivership or
other similar proceeding, regardless of whether allowed or allowable in such
proceeding) and obligations to provide cash collateral, and (c) all other
monetary obligations of the Borrower to any of the Credit Parties under the
Credit Agreement and each of the other Loan Documents, including obligations to
pay fees, expense reimbursement obligations and indemnification obligations,
whether primary, secondary, direct, contingent, fixed or otherwise (including
monetary obligations incurred during the pendency of any bankruptcy, insolvency,
receivership or other similar proceeding, regardless of whether allowed or
allowable in such proceeding).

 

“Subsidiary Guarantor” means, at any time, any
Subsidiary Loan Party that is party to this Agreement at such time, except any
such Subsidiary Loan Party the Guarantee hereunder of which has been released
and terminated in accordance with the terms of this Agreement.  The initial
Subsidiary Guarantors are listed on Schedule A.

 

ARTICLE
II

Guarantee

SECTION 2.01.  Guarantee.  Subject to the
limitations set forth herein, each of the Guarantors unconditionally
guarantees, as a primary obligor and not merely as a surety, the due and
punctual payment of the Obligations.  Each of the Guarantors further agrees
that the Obligations may be extended or renewed, in whole or in part, without
notice to or further assent from it, and that it will remain bound upon its
guarantee notwithstanding any extension or renewal of any Obligation.  Each
Guarantor waives presentment to, demand of payment from and protest to the
Borrower of any of the Obligations, and also waives notice of acceptance of its
guarantee and notice of protest for nonpayment.  Notwithstanding any other
provision of this Agreement, the maximum liability of the Bloomingdale’s
Parties with respect to the Obligations under this Agreement at any time of
determination shall be limited to the difference of (a) the maximum liability
that the Bloomingdale’s Parties may have under this Agreement without causing
Bloomingdale’s to fail to be in compliance with Section 26.15 of the
Bloomingdale’s Lease minus (b) $10,000,000.

 

SECTION 2.02.  Guarantee of Payment.  Each of the
Guarantors further agrees that its guarantee hereunder constitutes a guarantee
of payment when due and not of collection, and waives any right to require that
any resort be had by the Paying Agent or any other Credit Party to any security
held for the payment of the Obligations or to any balance of any deposit
account or credit on the books of the Paying Agent or any other Credit Party in
favor of the Borrower or any other Person.

 

SECTION 2.03.  Limitations.  (a)  Except for (x) termination of a Guarantor’s obligations hereunder as expressly provided in
Section 4.10 and (y) the limitations with respect to the Bloomingdale’s Parties
set forth in Section 2.01, the obligations of each Guarantor hereunder shall
not be subject to any reduction, limitation, impairment or termination for any
reason, including any claim of waiver, release, surrender, alteration or
compromise, and shall not be subject to any defense or set-off, counterclaim,
recoupment or termination whatsoever by reason of the invalidity, illegality or
unenforceability of the Obligations or otherwise.  Without limiting the
generality of the foregoing, the obligations of each Guarantor hereunder shall
not be discharged or impaired or otherwise affected by (i) the failure of
the Paying Agent or any other Credit Party to assert any claim or demand or to
enforce any right or remedy under the provisions of any Loan Document or
otherwise; (ii) any rescission, waiver, amendment or modification of, or
any release from any of the terms or provisions of, any Loan Document or any
other agreement; (iii) the release of any security held by the Paying
Agent or any other Credit Party for the Obligations or any of them; (iv) any
default, failure or delay, wilful or otherwise, in the payment of the
Obligations; or (v) any other act or omission that may or might in any
manner or to any extent vary the risk of any Guarantor or otherwise operate as
a discharge of any Guarantor as a matter of law or equity (other than the
payment in full in cash of all the Obligations).  Each of the Guarantors
expressly authorizes the Credit Parties to take and hold security for the
payment and performance of the Obligations, to exchange, waive or release any
or all such security (with or without consideration), to enforce or apply such
security and direct the order and manner of any sale thereof in their sole
discretion or to release or substitute any one or more other guarantors or
obligors upon or in respect of the Obligations, all without affecting the
obligations of any of the Guarantors hereunder.

 

(b) 
To the fullest extent permitted by applicable law, each Guarantor waives any
defense based on or arising out of any defense of the Borrower or the
unenforceability of the Obligations or any part thereof from any cause, or the
cessation from any cause of the liability of the Borrower, other than the
payment in full in cash of all the Obligations.  The Paying Agent and the other
Credit Parties may, at their election, foreclose on any security held by one or
more of them by one or more judicial or nonjudicial sales, accept an assignment
of any such security in lieu of foreclosure, compromise or adjust any part of
the Obligations, make any other accommodation with the Borrower or exercise any
other right or remedy available to them against the Borrower, without affecting
or impairing in any way the liability of any Guarantor hereunder except to the
extent the Obligations have been paid in full in cash.  To the fullest extent
permitted by applicable law, each Guarantor waives any defense arising out of
any such election even though such election operates, pursuant to applicable
law, to impair or to extinguish any right of reimbursement or subrogation or
other right or remedy of such Guarantor against the Borrower or any security.

 

SECTION 2.04.  Reinstatement.  Each Guarantor
agrees that its guarantee hereunder shall continue to be effective or be
reinstated, as the case may be, if at any time payment, or any part thereof, of
any Obligation is rescinded or must otherwise be restored by the Paying Agent
or any other Credit Party upon the bankruptcy or reorganization of the Borrower
or otherwise.  The provisions of this Section 2.04 shall survive any
termination or release under Section 4.10, other than a release pursuant to
Section 4.10(b).

 

SECTION 2.05.  Agreement To Pay; Subrogation.  In
furtherance of the foregoing and not in limitation of any other right that the
Paying Agent or any other Credit Party has at law or in equity against any
Guarantor by virtue hereof, upon the failure of the Borrower to pay any
Obligation when and as the same shall become due, whether at maturity, by
acceleration, after notice of prepayment or otherwise, each Guarantor hereby
promises to and will forthwith pay, or cause to be paid, to the Paying Agent
for distribution to the applicable Credit Parties in cash the amount of such
unpaid Obligation.  Upon payment by any Guarantor of any sums to the Paying
Agent as provided above, all rights of such Guarantor against the Borrower
arising as a result thereof by way of right of subrogation, contribution,
reimbursement, indemnity or otherwise shall in all respects be subject to
Article III.

 

SECTION 2.06.  Information.  Each of the Guarantors
assumes all responsibility for being and keeping itself informed of the
Borrower’s financial condition and assets, and of all other circumstances
bearing upon the risk of nonpayment of the Obligations and the nature, scope
and extent of the risks that such Guarantor assumes and incurs hereunder, and
agrees that none of the Paying Agent or the other Credit Parties will have any
duty to advise such Guarantor of information known to it or any of them
regarding such circumstances or risks.

 

ARTICLE
III

Indemnity, Subrogation and Subordination

SECTION 3.01.   Indemnity. 
In addition to all such rights of indemnity and subrogation as each of the
Subsidiary Guarantors may have under applicable law (but subject to Section
3.03), Parent and the Borrower jointly and severally agree that, in the event a
payment in respect of any Obligation shall be made by any Subsidiary Guarantor
under this Agreement, Parent and the Borrower shall indemnify such Subsidiary
Guarantor for the full amount of such payment and such Subsidiary Guarantor
shall be subrogated to the rights of the Person to whom such payment shall have
been made to the extent of such payment.
 SECTION 3.02.  Contribution
and Subrogation.  Each Subsidiary Guarantor (a “Contributing Party”)
agrees (subject to Section 3.03) that, in the event a payment shall be made by
any other Subsidiary Guarantor hereunder in respect of any Obligation and such
other Subsidiary Guarantor (the “Claiming Party”) shall not have been
fully indemnified by Parent and the Borrower as provided in Section 3.01, the
Contributing Party shall indemnify the Claiming Party in an amount equal to the
amount of such payment multiplied by a fraction of which the numerator shall be
the net worth of the Contributing Party on the date hereof and the denominator
shall be the aggregate net worth of all the Subsidiary Guarantors on the date
hereof (or, in the case of any Subsidiary Guarantor becoming a party hereto
after the date hereof, the date of the supplement hereto executed and delivered
by such Subsidiary Guarantor); provided, however, that in the
case of the Bloomingdale’s Parties, the numerator of the foregoing fraction
shall be the maximum liability of the Bloomingdale’s Parties hereunder
determined in accordance with Section 2.01.  Any Contributing Party making any
payment to a Claiming Party pursuant to this Section 3.02 shall be subrogated
to the rights of such Claiming Party under Section 3.01 to the extent of such
payment.

 

SECTION 3.03.  Subordination. 
(a)  Notwithstanding any provision of this Agreement to the contrary, all
rights of each Subsidiary Guarantor under Sections 3.01 and 3.02 and all other
rights of each Guarantor in respect of indemnity, contribution or subrogation
under applicable law or otherwise, shall be fully subordinated to the
indefeasible payment in full in cash of the Obligations on the terms set forth
in Schedule B hereto.  No failure on the part of the Borrower or any Guarantor
to make the payments required by Sections 3.01 and 3.02 (or any other payments
required under applicable law or otherwise) shall in any respect limit the
obligations and liabilities of any Guarantor with respect to its obligations
hereunder, and each Guarantor shall remain liable for the full amount of the
obligations of such Guarantor hereunder.

 

(b) 
Each of the Borrower and the Guarantors hereby agrees that all Indebtedness and
other monetary obligations owed by it to Parent, the Borrower or any other
Subsidiary shall be fully subordinated to the indefeasible payment in full in
cash of the Obligations on the terms set forth in Schedule B hereto.  

 

ARTICLE
IV

Miscellaneous

SECTION 4.01.  Notices.  All communications and notices
hereunder shall (except as otherwise expressly permitted herein) be in writing
and given as provided in Section 9.01 of the Credit Agreement.  All
communications and notices to any Subsidiary Guarantor shall be given to such
Subsidiary Guarantor in care of the Borrower. 

 

SECTION 4.02.  Waivers; Amendment.  (a)  No failure or delay by any Agent, any Issuing Bank or any Lender in exercising any
right or power hereunder or under the Credit Agreement shall operate as a
waiver thereof, nor shall any single or partial exercise of any such right or
power, or any abandonment or discontinuance of steps to enforce such a right or
power, preclude any other or further exercise thereof or the exercise of any
other right or power.  The rights and remedies of the Agents, the Issuing Banks
and the Lenders hereunder and under the Credit Agreement are cumulative and are
not exclusive of any rights or remedies that they would otherwise have.  No
waiver of any provision of this Agreement or consent to any departure by any
Loan Party therefrom shall in any event be effective unless the same shall be
permitted by paragraph (b) of this Section 4.02, and then such waiver or
consent shall be effective only in the specific instance and for the purpose
for which given.  Without limiting the generality of the foregoing, the making
of a Loan or issuance of a Letter of Credit shall not be construed as a waiver
of any Default, regardless of whether any Agent, any Lender or any Issuing Bank
may have had notice or knowledge of such Default at the time.  No notice or
demand on any Loan Party in any case shall entitle any Loan Party to any other
or further notice or demand in similar or other circumstances.

 

(b) 
Neither this Agreement nor any provision hereof may be waived, amended or
modified except pursuant to an agreement or agreements in writing entered into
by the Paying Agent and the Loan Party or Loan Parties with respect to which
such waiver, amendment or modification is to apply, subject to any consent
required in accordance with Section 9.02 of the Credit Agreement.

 

SECTION 4.03.  Successors and Assigns.  Whenever in
this Agreement any party hereto is referred to, such reference shall be deemed
to include the permitted successors and assigns of such party; and all
covenants, promises and agreements by or on behalf of any Guarantor, the
Borrower or the Paying Agent that are contained in this Agreement shall bind
and inure to the benefit of their respective successors and assigns.

 

SECTION 4.04.  Survival of Agreement.  All
covenants, agreements, representations and warranties made by the Loan Parties
in the Loan Documents and in the certificates or other instruments prepared or
delivered in connection with or pursuant to this Agreement or any other Loan
Document shall be considered to have been relied upon by the Lenders and shall
survive the execution and delivery of the Loan Documents and the making of any
Loans and issuance of any Letters of Credit, regardless of any investigation
made by any Lender or on its behalf and notwithstanding that any Agent, any
Issuing Bank or any Lender may have had notice or knowledge of any Default or
incorrect representation or warranty at the time any credit is extended under
the Credit Agreement, and shall continue in full force and effect as long as
the principal of or any accrued interest on any Loan or any fee or any other
amount payable under any Loan Document is outstanding and unpaid or any Letter
of Credit is outstanding and so long as the Commitments have not expired or
terminated.

 

SECTION 4.05.  Counterparts; Effectiveness; Several
Agreement.  This Agreement may be executed in counterparts (and by
different parties hereto on different counterparts), each of which shall
constitute an original but all of which when taken together shall constitute
single contract.  Delivery of an executed signature page to this Agreement by
facsimile transmission shall be as effective as delivery of a manually signed
counterpart of this Agreement.  This Agreement shall become effective when it
shall have been executed by the Paying Agent and when the Paying Agent shall
have received counterparts hereof which, when taken together, bear the
signatures of each Loan Party, and thereafter shall be binding upon each Loan
Party and the Paying Agent, and shall inure to the benefit of each Loan Party,
the Paying Agent and the other Credit Parties and their respective successors
and assigns, except that no Loan Party shall have the right to assign or
transfer its rights or obligations hereunder or any interest herein (and any
such assignment or transfer shall be void) except as expressly contemplated by
this Agreement or the Credit Agreement.

 

SECTION 4.06.  Severability.  Any provision of this
Agreement held to be invalid, illegal or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such
invalidity, illegality or uneforceability without affecting the validity,
legality and enforceability of the remaining provisions hereof; and the
invalidity of a particular provision in a particular jurisdiction shall not
invalidate such provision in any other jurisdiction.  The parties shall
endeavor in good‐faith negotiations to replace the invalid, illegal or
unenforceable provisions with valid provisions the economic effect of which
comes as close as possible to that of the invalid, illegal or unenforceable
provisions.

 

SECTION 4.07.  Right of Set-Off.  If an Event of
Default shall have occurred and be continuing, each Lender and each of its
Affiliates is hereby authorized at any time and from time to time, to the
fullest extent permitted by law, to set off and apply any and all deposits
(general or special, time or demand, provisional or final) at any time held and
other obligations at any time owing by such Lender or Affiliate to or for the
credit or the account of any Guarantor against any of and all the obligations
of such Guarantor now or hereafter existing under this Agreement owed to such
Lender, irrespective of whether or not any demand for payment thereof has been
made under this Agreement and although such obligations may be unmatured.  The
rights of each Lender under this Section 4.07 are in addition to other rights
and remedies (including other rights of set-off) which such Lender may have.

 

SECTION 4.08.  Governing Law.  This Agreement shall
be construed in accordance with and governed by the law of the State of New
York.

 

SECTION 4.09.  Headings.  Article and Section
headings and the Table of Contents used herein are for convenience of reference
only, are not part of this Agreement and are not to affect the construction of,
or to be taken into consideration in interpreting, this Agreement.

 

SECTION 4.10.  Termination or Release.  (a) Subject
to Section 2.04, this Agreement and the guarantees made herein shall terminate
when the Commitments have terminated, all the Obligations have been paid in
full, the LC Exposure has been reduced to zero and the Issuing Banks have no
further obligations to issue Letters of Credit under the Credit Agreement.

 

(b)  At
any time that the Public Debt Ratings are Baa3 and BBB- (in each case with
stable outlook) or better, the Borrower may by written notice to the Paying
Agent release and terminate the Guarantees hereunder by all or any one of the
Subsidiary Guarantors.

 

(c)  A
Subsidiary Guarantor shall automatically be released from its obligations
hereunder and shall cease to be a party hereto upon the consummation of any transaction
permitted by the Credit Agreement as a result of which such Subsidiary
Guarantor ceases to be a Subsidiary; provided that the Required Lenders
shall have consented to such transaction (to the extent required by the Credit
Agreement) and the terms of such consent did not provide otherwise.

[Remainder of page
intentionally left blank]

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IN WITNESS
WHEREOF, the parties hereto have duly executed this Agreement as of the day and
year first above written.

 

 

	
  MACY’s, INC.,

  
	
  by

  
	
   

  	
  /s/ Karen M. Hoguet

  
	
   

  	
  Name:  Karen M. Hoguet

  
	
   

  	
  Title: Chief Financial Officer

  

 

 

	
  MACY’S
  RETAIL HOLDINGS, INC.,

  	 

	
  by

  	 

	
   

  	
  /s/ Karen M. Hoguet

  	 

	
   

  	
  Name:  Karen M. Hoguet

  	 

	
   

  	
  Title:   Vice President

  	 

	
   

   

  	
   

  	 

	
  BloomingDale’s
  Atlantic City, inc.,

  
	
  by

  
	
   

  	
  /s/ Stephen J. O’Bryan

  
	
   

  	
  Name:  Stephen J. O’Bryan

  
	
   

  	
  Title:   
  Assistant Secretary

  

 

 

	
  Dayton’s Iron Horse
  liquors, inc.,

  
	
  by

  
	
   

  	
  /s/ Warren P. Wolfe

  
	
   

  	
  Name:   Warren P. Wolfe

  
	
   

  	
  Title:    President

  

 

 

 

	
  Macy’s corporate
  services, inc.,

  
	
  by

  
	
   

  	
  /s/ Brian M. Szames

  
	
   

  	
  Name:  Brian M. Szames

  
	
   

  	
  Title:    Treasurer

  

 

 

	
  Macy’s Hamilton by
  Appointment, Inc.,

  
	
  by

  
	
   

  	
  /s/ Stephen J. O’Bryan

  
	
   

  	
  Name:  Stephen J. O’Bryan

  
	
   

  	
  Title:    Secretary

  

 

 

	
  Marshall Fields Chicago, inc.,

  
	
  by

  
	
   

  	
  /s/ Warren P. Wolfe

  
	
   

  	
  Name:  Warren P. Wolfe

  
	
   

  	
  Title:    President

  

 

 

	
  Mayfair Wine &
  Liquor Shop, inc.,

  
	
  by

  
	
   

  	
  /s/ Dennis J. Broderick

  
	
   

  	
  Name:  Dennis J. Broderick

  
	
   

  	
  Title:    President

  

 

 

 

 

 

 

	
  Rooftop, Inc.,

  
	
  by

  
	
   

  	
  /s/ Warren P. Wolfe

  
	
   

  	
  Name:  Warren P. Wolfe

  
	
   

  	
  Title:    President

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

	
  Bloomingdale’s By Mail Ltd. Bloomingdale’s Gift Card, LLC

  Bloomingdale’s The Outlet Store, Inc.

  Bloomingdale’s, Inc.

  Bloomingdale’s, LLC

  Central Regional Claims Corporation

  Jordan Servicenter, Inc.

  Kaufmann’s Carousel, Inc.

  Laurel Plaza Development I, Inc.

  Leawood Exchange, LLC

  Macy’s California Realty, LLC

  Macy’s Credit and Customer Services, Inc.

  Macy’s Florida Stores, LLC

  Macy’s Gift Card, LLC

  Macy’s Insurance, Inc.

  Macy’s Merchandising Corporation

  Macy’s Systems and Technology, Inc. Macy’s Systems
  Leasing, Inc.

  Macy’s West Stores, Inc.

  Macy’s West Virginia Land Leasing, LLC

  Macys.com, Inc.

  May Company Montgomery Condominium LLC

  May Properties of Maryland, Inc.

  May Stores IV, Inc.

  McIre One, Inc.

  MF Distribution Center of Illinois LLC

  MF Fargo-Grand Forks-Bismarck Stores LLC

  MF Grape-Coldwater Stores LLC

  Minooka Exchange, LLC

  MOA Rest, Inc.

  Nimbus Stores LLC

  OBP Development, LLC

  OBP, LLC

  R.H. Macy Holdings (HK), Ltd.

  R.H. Macy Warehouse (HK), Ltd.

  Southdale Stores LLC

   

  
	
  by

  
	
   

  	
  /s/ Brian M. Szames

  
	
   

  	
  Name: Brian M. Szames

  
	
   

  	
  Title:   Vice President

   

   

  

 

SCHEDULE
A

LIST
OF INITIAL SUBSIDIARY GUARANTORS

1.         Bloomingdale's Atlantic City,
Inc., a Delaware corporation

2.         Bloomingdale's By Mail Ltd., a
New York corporation

      3.         Bloomingdale's Gift Card,
LLC, an Ohio limited liability company

4          Bloomingdale's The Outlet
Store, Inc., an Ohio corporation

5.         Bloomingdale's, Inc., an Ohio
corporation

6.         Bloomingdale's, LLC, an Ohio
limited liability company

7.         Central Regional Claims
Corporation, a Texas corporation

8.         Dayton's Iron Horse Liquors,
Inc., a Minnesota corporation

9.         Jordan Servicenter, Inc., a Delaware
corporation

10.       Kaufmann's Carousel, Inc., a
Delaware corporation

11.       Leawood Exchange, LLC, a Kansas
LLC

12.       Laurel Plaza Development I,
Inc., a Delaware corporation

13.       Macy's California Realty, LLC, a
Delaware limited liability company

14.       Macy's Corporate Services, Inc.,
a Delaware corporation

15.       Macy's Credit and Customer
Services, Inc., an Ohio corporation

16.       Macy's Florida Stores, LLC, an
Ohio limited liability company

17.       Macy's Gift Card, LLC, an Ohio
limited liability company

18.       Macy's Hamilton By Appointment,
Inc., a Delaware corporation

19.       Macy's Insurance, Inc., an Ohio
corporation

20.       Macy's Merchandising
Corporation, a Delaware corporation

21.       Macy's Systems and Technology,
Inc., a Delaware corporation

22.       Macy's Systems Leasing, Inc., a
Delaware corporation

23.       Macy's West Stores, Inc., an
Ohio corporation

24.       Macy's West Virginia Land
Leasing, LLC, a West Virginia limited liability company

25.       Macys.com, Inc., a New York
corporation

26.       Marshall Field's Chicago, Inc.,
a Delaware corporation

27.       May Company Montgomery
Condominium LLC, a Maryland limited liability company

28.       May Properties of Maryland,
Inc., a Delaware corporation

29.       May Stores IV, Inc., a Delaware
corporation

30.       Mayfair Wine & Liquor Shop,
Inc., a Wisconsin corporation

31.       McIre One, Inc., a Delaware
corporation

32.       MF Distribution Center of
Illinois LLC, a Delaware limited liability company

33.       MF Fargo-Grand Forks-Bismarck
Stores LLC, a Delaware limited liability company

34.       MF Grape-Coldwater Stores LLC, a
Delaware limited liability company

35.       Minooka Exchange, LLC, an Ohio
limited liability company

36.       MOA Rest, Inc., a Minnesota
corporation

37.       Nimbus Stores LLC, a Delaware
limited liability company

38.       OBP, LLC, a Tennessee limited
liability company

39.       OBP Development, LLC a Tennessee
limited liability company

40.       R.H. Macy Holdings (HK), Ltd., a
Delaware corporation

41.       R.H. Macy Warehouse (HK), Ltd.,
a Delaware corporation

42.       Rooftop, Inc., a Minnesota
corporation

43.       Southdale Stores LLC, a Delaware
limited liability company

  

 

 

 

 

 

 

 

 

                                   

                                  SCHEDULE B

Subordination
Terms

 

ARTICLE
I

 

DEFINITIONS

 

Capitalized
terms used herein have the meanings set forth in the Guarantee Agreement dated
as of June 20, 2011 (the “Guarantee Agreement”), among Macy’s, Inc.,
Macy’s Retail Holdings, Inc., the subsidiary guarantors party thereto and
JPMorgan Chase Bank, N.A., as Paying Agent or, if not defined therein, then in
the Credit Agreement referred to therein.  In addition, as used herein the
following terms shall have the following meanings:

 

                        “Senior
Creditors” means the Credit Parties.

 

                        “Senior
Obligations” means (a) with respect to the Borrower, the Obligations, and
(b) with respect to any other Loan Party, all monetary obligations of such Loan
Party under the Guarantee Agreement.

 

                        “Subordinated
Creditors” means each of Parent, the Borrower and the other Subsidiaries.

 

                        “Subordinated
Obligations” means, with respect to any Loan Party, all Indebtedness and
other monetary obligations of such Loan Party at any time owing to any Subordinated
Creditor (including any such obligations or other liabilities owing to any
other Person for the direct or indirect benefit of any Subordinated Creditor).

 

ARTICLE II

 

SUBORDINATION

 

                        SECTION 2.1.  Subordination.  Each
Subordinated Creditor hereby agrees that all the Subordinated Obligations of
each Loan Party are hereby expressly subordinated, to the extent and in the
manner set forth in this Article II, to the prior payment in full in cash of
all Senior Obligations of such Loan Party in accordance with the terms thereof.

 

                        SECTION
2.2.  Dissolution or Insolvency.  Upon any distribution of the assets of
any Loan Party or upon any dissolution, winding up, liquidation or
reorganization of any Loan Party, whether in bankruptcy, insolvency, reorganization,
arrangement or receivership proceedings or otherwise, or upon any assignment
for the benefit of creditors or any other marshaling of the assets and
liabilities of any Loan Party, or otherwise:

 

                        (a)
the Senior Creditors of such Loan Party shall first be entitled to receive
payment in full in cash of the Senior Obligations of such Loan Party in
accordance with the terms of such Senior Obligations and the Loan Documents
before any Subordinated Creditor shall be entitled to receive any payment on
account of the Subordinated Obligations of such Loan Party, whether as
principal, interest or otherwise; and 

 

                        (b)
any payment by, or distribution of the assets of, such Loan Party of any kind
or character, whether in cash, property or securities, to which any
Subordinated Creditor would be entitled except for the provisions hereof shall
be paid or delivered by the Person making such payment or distribution (whether
a trustee in bankruptcy, a receiver, custodian or liquidating trustee or
otherwise) directly to the Paying Agent to the extent necessary to make payment
in full in cash of all Senior Obligations of such Loan Party remaining unpaid,
after giving effect to any concurrent payment or distribution to the Senior
Creditors in respect of the Senior Obligations, to be held and applied by the
Paying Agent to payment of the Senior Obligations. 

 

                        SECTION
2.3.  Payment of Subordinated Obligations Prohibited Upon Exercise of
Remedies.  No payment (whether directly, by exercise of any right of
set-off or otherwise) in respect of the Subordinated Obligations of any Loan
Party, whether as principal, interest or otherwise, shall be permitted, and no
such payment shall be received or accepted by or on behalf of any Subordinated
Creditor, if an Event of Default has occurred and is continuing and the
Commitments have been terminated pursuant to Article VII of the Credit
Agreement.

 

                        SECTION
2.4.  Certain Payments Held in Trust.  In the event that any payment by,
or distribution of the assets of, any Loan Party of any kind or character,
whether in cash, property or securities, and whether directly, by exercise of
any right of set-off or otherwise, shall be received by or on behalf of any
Subordinated Creditor at a time when such payment is prohibited hereby, such
payment or distribution shall be held in trust for the benefit of, and shall be
paid over to, the Paying Agent to the extent necessary to make payment in full
in cash of all Senior Obligations of such Loan Party remaining unpaid, after
giving effect to any concurrent payment or distribution to the Senior Creditors
in respect of such Senior Obligations, to be held and applied by the Paying
Agent to satisfy the Senior Obligations.

 

                        SECTION
2.5.  Subrogation.  Subject to the prior indefeasible payment in full in
cash of the Senior Obligations of a Loan Party, the applicable Subordinated
Creditors of such Loan Party shall be subrogated to the rights of the Senior
Creditors of such Loan Party to receive payments or distributions in cash,
property or securities of such Loan Party applicable to such Senior Obligations
until all amounts owing on the Subordinated Obligations of such Loan Party
shall be paid in full, and as between and among a Loan Party, its creditors
(other than its Senior Creditors) and the applicable Subordinated Creditors of
such Loan Party, no such payment or distribution made to the Paying Agent by
virtue hereof that otherwise would have been made to the Subordinated Creditors
of such Loan Party shall be deemed to be a payment by such Loan Party on account
of its Subordinated Obligations, it being understood that the provisions hereof
are intended solely for the purpose of defining the relative rights of the
Subordinated Creditors, on the one hand, and the Senior Creditors, on the other
hand.

 

 

 

 

 

 

EXHIBIT
A

 

FORM
OF SUPPLEMENT TO GUARANTEE AGREEMENT

 

SUPPLEMENT
NO. __ dated as of [           ] (this “Supplement”), to the Guarantee
Agreement dated as of June 20, 2011 (as amended, supplemented
or otherwise modified from time to time, the “Guarantee Agreement”) among
MACY’S, INC. (“Parent”), MACY’S RETAIL HOLDINGS, INC. (the “Borrower”),
the SUBSIDIARY GUARANTORS party thereto (the “Subsidiary Guarantors”)
and JPMORGAN CHASE BANK, N.A., as Paying Agent.

 

A.  Reference is made to the
Credit Agreement, dated as of June 20, 2011 (as amended, supplemented
or otherwise modified from time to time, the “Credit Agreement”), among
Parent, the Borrower, the Lenders party thereto, JPMorgan Chase Bank, N.A. and
Bank of America, N.A., as Administrative Agents, and JPMorgan Chase Bank, N.A.,
as Paying Agent.  

 

B. 
Capitalized terms used herein and not otherwise defined herein shall have the
meanings assigned to such terms in the Credit Agreement and the Guarantee
Agreement referred to therein.

 

C. 
Section 5.08 of the Credit Agreement provides that Subsidiary Loan Parties that
are not Subsidiary Guarantors under the Guarantee Agreement may be required to
become Subsidiary Guarantors under the Guarantee Agreement by execution and
delivery of an instrument in the form of this Supplement.  The undersigned
Subsidiary (the “Additional Subsidiary”) is executing this Supplement in
accordance with the requirements of Section 5.08 of the Credit Agreement to
become a Subsidiary Guarantor under the Guarantee Agreement in order to induce
the Lenders to make additional Loans and the Issuing Bank to issue additional
Letters of Credit and as consideration for Loans previously made and Letters of
Credit previously issued.

 

Accordingly,
the Paying Agent and the Additional Subsidiary agree as follows:

SECTION
1.  In accordance with Section 5.08 of the Credit Agreement, the Additional
Subsidiary by its signature below becomes a Subsidiary Guarantor and a
Guarantor under the Guarantee Agreement with the same force and effect as if
originally named therein as a Subsidiary Guarantor, and the Additional
Subsidiary hereby agrees to all the terms and provisions of the Guarantee
Agreement applicable to it as a Subsidiary Guarantor and Guarantor thereunder.

 

SECTION
2.  The Additional Subsidiary represents and warrants to the Paying Agent and
the other Credit Parties that this Supplement has been duly authorized,
executed and delivered by it and constitutes its legal, valid and binding
obligation, enforceable against it in accordance with its terms.

 

SECTION
3.  This Supplement may be executed in counterparts (and by different parties
hereto on different counterparts), each of which shall constitute an original,
but all of which when taken together shall constitute a single contract. This
Supplement shall become effective when the Paying Agent shall have received a
counterpart of this Supplement that bears the signature of the Additional
Subsidiary and the Paying Agent has executed a counterpart hereof.  Delivery of
an executed signature page to this Supplement by facsimile or electronic
transmission shall be as effective as delivery of a manually signed counterpart
of this Supplement.

 

SECTION
4.  Except as expressly supplemented hereby, the Guarantee Agreement shall
remain in full force and effect.

 

SECTION
5.  THIS SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
LAWS OF THE STATE OF NEW YORK.

 

SECTION
6.  In case any one or more of the provisions contained in this Supplement
should be held invalid, illegal or unenforceable in any respect, the validity,
legality and enforceability of the remaining provisions contained herein and in
the Guarantee Agreement shall not in any way be affected or impaired thereby
(it being understood that the invalidity of a particular provision in a
particular jurisdiction shall not in and of itself affect the validity of such
provision in any other jurisdiction). The parties hereto shall endeavor in
good-faith negotiations to replace the invalid, illegal or unenforceable
provisions with valid provisions the economic effect of which comes as close as
possible to that of the invalid, illegal or unenforceable provisions.

 

SECTION
7.  All communications and notices hereunder shall be in writing and given as
provided in Section 4.01 of the Guarantee Agreement.

 

SECTION
8.  The Borrower agrees to reimburse the Paying Agent for its reasonable
out-of-pocket expenses in connection with this Supplement, including the
reasonable fees, other charges and disbursements of counsel for the Paying
Agent.

 

IN WITNESS WHEREOF, the Additional
Subsidiary and the Paying Agent have duly executed this Supplement to the
Guarantee Agreement as of the day and year first above written.

	
  [ADDITIONAL SUBSIDIARY],

  
	
  by

  
	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  JPMORGAN CHASE BANK, N.A., as

  PAYING Agent,

  
	
  by

  
	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00191-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00191-of-00352.parquet"}]]