Document:

Employment Agreement with T. Paul Thomas

 Exhibit 10.9 
 SECURE COMPUTING CORPORATION 
 T. PAUL THOMAS 
 EMPLOYMENT, CONFIDENTIAL INFORMATION, 
 AND ARBITRATION AGREEMENT 
 As a condition of my employment with SECURE COMPUTING CORPORATION, its subsidiaries, affiliates,
successors or assigns (together the “Company”), and in consideration of my employment with the Company and my receipt of the compensation now and hereafter paid to me by Company, I agree to the following: 
 1. At-Will Employment. I UNDERSTAND AND ACKNOWLEDGE THAT MY EMPLOYMENT WITH THE COMPANY IS FOR AN UNSPECIFIED DURATION AND CONSTITUTES “AT-WILL”
EMPLOYMENT. I ALSO UNDERSTAND THAT ANY REPRESENTATION TO THE CONTRARY IS UNAUTHORIZED AND NOT VALID UNLESS OBTAINED IN WRITING AND SIGNED BY THE CHIEF EXECUTIVE OFFICER OF THE COMPANY. I ACKNOWLEDGE THAT THIS EMPLOYMENT RELATIONSHIP MAY BE
TERMINATED AT ANY TIME, WITH OR WITHOUT GOOD CAUSE OR FOR ANY OR NO CAUSE, AT THE OPTION EITHER OF THE COMPANY OR MYSELF, WITH OR WITHOUT NOTICE. 
 2.
Confidential Information. 
 (a) Company Information. I agree at all times during the term of my employment and
thereafter, to hold in strictest confidence, and not to use or disclose, except for the benefit of the Company, to any person, firm or corporation without written authorization of the Chief Executive Officer of the Company, any Confidential
Information of the Company. I understand that “Confidential Information” means any Company proprietary information, technical data, trade secrets or know-how, including, but not limited to, research, product plans, products, services,
customer lists and customers (including, but not limited to, customers of the Company on whom I called or with whom I became acquainted during the term of my employment), markets, software, developments, inventions, processes, formulas, technology,
designs, drawings, engineering data, hardware configuration information, marketing, financial or other business information disclosed to me by the Company either directly or indirectly in writing, orally or by drawings or observation of parts or
equipment. I further understand that Confidential Information does not include any of the foregoing items which has become publicly known and made generally available through no wrongful act of mine or of others who were under confidentiality
obligations as to the item or items involved or improvements or new versions thereof. 
 (b) Former Employer Information. I
agree that I will not, during my employment with the Company, improperly use or disclose any proprietary information or trade secrets of any former or concurrent employer or other person or entity and that I will not bring onto the premises of the
Company any unpublished document or proprietary information belonging to any such employer, person or entity unless consented to in writing by such employer, person or entity. 
 (c) Third Party Information. I recognize that the Company has received and in the future will receive from third parties their confidential
or proprietary information subject to a duty on the Company’s part to maintain the confidentiality of such information and to use it only for certain limited purposes. I agree to hold all such confidential or proprietary information in the
strictest confidence and not to disclose it to any person, firm or corporation or to use it except as necessary in carrying out my work for the Company consistent with the Company’s agreement with such third party. 
 3. Conflicting Employment. I agree that, during the term of my employment with the Company, I will not engage in any other employment, occupation,
consulting or other business activity directly related to the business in which the Company is now involved or becomes involved during the term of my employment, nor will I engage in any other activities that conflict with my obligations to the
Company. 
 4. Returning Company Documents. I agree that, at the time of leaving the employ of the Company, I will deliver to the Company (and
will not keep in my possession, recreate or deliver to anyone else) any and all devices, records, data, notes, reports, proposals, lists, correspondence, specifications, drawings blueprints, sketches, materials, equipment, other documents or
property, or reproductions of any aforementioned items developed by me pursuant to my employment with the Company or otherwise belonging to the Company, its successors or assigns. In the event of the termination of my employment, I agree to sign and
deliver the “Termination Certification” attached hereto as Exhibit A. 

 5. Notification of New Employer. In the event that I leave the employ of the Company, I hereby grant
consent to notification by the Company to my new employer about my rights and obligations under this Agreement. 
 6. Solicitation of
Employees. To the full extent permitted by law, for a period of twelve (12) months immediately following the termination of my relationship with the Company for any reason, whether voluntary or involuntary, I shall not, by myself or in
collaboration with others, either directly or indirectly solicit, induce, recruit or encourage any of the Company’s employees to leave their employment, or take away such employees, or attempt to solicit, induce, recruit, encourage or take away
employees of the Company, either for myself or any other person or entity. 
 7. Representations. I agree to execute any proper oath or verify
any proper document required to carry out the terms of this Agreement. I represent that my performance of all the terms of this Agreement will not breach any agreement to keep in confidence proprietary information acquired by me in confidence or in
trust prior to my employment by the Company. I have not entered into, and I agree I will not enter into, any oral or written agreement in conflict herewith. 
 8. SmartFilter Control List. The SmartFilter Control List work performed within the Company’s Concord, California facility may require its employees to deal with or be exposed to the subject matter(s) of pornography/sex,
hate speech, obscenity, illegal drugs, criminal activities, alternative lifestyles, etc. I am fully aware that this is part of the working environment. 
 9.
Arbitration and Equitable Relief. 
 (a) Arbitration. EXCEPT AS PROVIDED IN SECTION 9(b) BELOW, I AGREE THAT ANY
DISPUTE OR CONTROVERSY ARISING OUT OF, RELATING TO, OR CONCERNING ANY INTERPRETATION, CONSTRUCTION, PERFORMANCE OR BREACH OF THIS AGREEMENT, SHALL BE SETTLED BY ARBITRATION TO BE HELD IN SANTA CLARA COUNTY, CALIFORNIA, IN ACCORDANCE WITH THE
EMPLOYMENT DISPUTE RESOLUTION RULES THEN IN EFFECT OF THE AMERICAN ARBITRATION ASSOCIATION. THE ARBITRATOR MAY GRANT INJUNCTIONS OR OTHER RELIEF IN SUCH DISPUTE OR CONTROVERSY. THE DECISION OF THE ARBITRATOR SHALL BE FINAL, CONCLUSIVE AND BINDING ON
THE PARTIES TO THE ARBITRATION. JUDGMENT MAY BE ENTERED ON THE ARBITRATOR’S DECISION IN ANY COURT HAVING JURISDICTION. THE COMPANY SHALL PAY THE COSTS AND EXPENSES OF SUCH ARBITRATION, AND EACH OF US SHALL SEPARATELY PAY OUR COUNSEL FEES AND
EXPENSES. 
 THIS ARBITRATION CLAUSE CONSTITUTES A WAIVER OF EMPLOYEE’S RIGHT TO A JURY TRIAL AND RELATES TO THE RESOLUTION OF ALL
DISPUTES RELATING TO ALL ASPECTS OF THE EMPLOYER/EMPLOYEE RELATIONSHIP (EXCEPT AS PROVIDED IN SECTION 9(b) BELOW), INCLUDING, BUT NOT LIMITED TO, THE FOLLOWING CLAIMS: 
 i. ANY AND ALL CLAIMS FOR WRONGFUL DISCHARGE OF EMPLOYMENT; BREACH OF CONTRACT, BOTH EXPRESS AND IMPLIED; BREACH OF THE COVENANT OF GOOD
FAITH AND FAIR DEALING, BOTH EXPRESS AND IMPLIED; NEGLIGENT OR INTENTIONAL INFLICTION OF EMOTIONAL DISTRESS; NEGLIGENT OR INTENTIONAL MISREPRESENTATION; NEGLIGENT OR INTENTIONAL INTERFERENCE WITH CONTRACT OR PROSPECTIVE ECONOMIC ADVANTAGE; AND
DEFAMATION; 
 ii. ANY AND ALL CLAIMS FOR VIOLATION OF ANY FEDERAL, STATE OR MUNICIPAL STATUTE, INCLUDING, BUT NOT LIMITED TO,
TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, THE CIVIL RIGHTS ACT OF 1991, THE AGE DISCRIMINATION IN EMPLOYMENT ACT OF 1967, THE AMERICANS WITH DISABILITIES ACT OF 1990, THE FAIR LABOR STANDARDS ACT, THE CALIFORNIA FAIR EMPLOYMENT AND HOUSING ACT, AND
LABOR CODE SECTION 201, et seq.; 
 iii. ANY AND ALL CLAIMS ARISING OUT OF ANY OTHER LAWS AND REGULATIONS RELATING
TO EMPLOYMENT OR EMPLOYMENT DISCRIMINATION. 
 (b) Equitable Remedies. I AGREE THAT IT WOULD BE IMPOSSIBLE OR INADEQUATE TO
MEASURE AND CALCULATE THE COMPANY’S DAMAGES FROM ANY BREACH OF THE COVENANTS SET FORTH IN SECTIONS 2 AND 4 HEREIN. ACCORDINGLY, I AGREE THAT IF I BREACH ANY OF SUCH SECTIONS, THE COMPANY WILL HAVE AVAILABLE, IN ADDITION TO ANY OTHER RIGHT
OR REMEDY AVAILABLE, THE RIGHT TO OBTAIN AN INJUNCTION FROM A COURT OF COMPETENT JURISDICTION RESTRAINING SUCH BREACH OR THREATENED BREACH AND TO SPECIFIC PERFORMANCE OF ANY SUCH PROVISION OF THIS AGREEMENT. I FURTHER AGREE THAT NO BOND OR OTHER
SECURITY SHALL BE REQUIRED IN OBTAINING SUCH EQUITABLE RELIEF AND I HEREBY CONSENT TO THE ISSUANCE OF SUCH INJUNCTION AND TO THE ORDERING OF SPECIFIC PERFORMANCE. 
  

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 (c) Consideration. I UNDERSTAND THAT EACH PARTY’S PROMISE TO RESOLVE CLAIMS BY
ARBITRATION IN ACCORDANCE WITH THE PROVISIONS OF THIS AGREEMENT, RATHER THAN THROUGH THE COURTS, IS CONSIDERATION FOR OTHER PARTY’S LIKE PROMISE. I FURTHER UNDERSTAND THAT I AM OFFERED EMPLOYMENT IN CONSIDERATION OF MY PROMISE TO ARBITRATE
CLAIMS. 
 10. General Provisions. 
 (a) Governing Law; Consent to Personal Jurisdiction. This Agreement will be governed by the laws of the State of California. I hereby expressly consent to the personal jurisdiction of the state and federal courts located in
California for any lawsuit filed there against me by the Company arising from or relating to this Agreement. 
 (b) Entire
Agreement. This Agreement sets forth the entire agreement and understanding between the Company and me relating to the subject matter herein and supersedes all prior discussions between us. No modification of or amendment to this Agreement,
nor any waiver of any rights under this agreement, will be effective unless in writing signed by the party to be charged. Any subsequent change or changes in my duties, salary or compensation will not affect the validity or scope of this Agreement.

 (c) Severability. If one or more of the provisions in this Agreement are deemed void by law, then the remaining provisions
will continue in full force and effect. 
 (d) Successors and Assigns. This Agreement will be binding upon my heirs, executors,
administrators and other legal representatives and will be for the benefit of the Company, its successors, and its assigns. 
 Date: ________________________

  

	
	   
	 Signature

	
	   
	 Name of Employee (typed or printed)

 Witness: ______________________________________ 
  

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 Exhibit A 
 SECURE COMPUTING CORPORATION 
 TERMINATION CERTIFICATION 
 In accordance with my Employment Agreement, I hereby certify to the following: 
 I do not have in my possession, nor have I failed to return, any devices, records, data, notes, reports, proposals, lists, correspondence,
specifications, drawings, blueprints, sketches, materials, equipment, other documents or property, or reproductions of any aforementioned items belonging to SECURE COMPUTING CORPORATION, its subsidiaries, affiliates, successors or assigns (together,
the “Company”). 
 I have complied with all the terms of the Company’s Employment Agreement signed by me, including the
reporting of any inventions and original works of authorship (as defined therein), conceived or made by me (solely or jointly with others) covered by that agreement. 
 In compliance with the Employment Agreement, I will preserve as confidential all trade secrets, confidential knowledge, data or other proprietary information relating to products, processes, know-how, designs,
formulas, developmental or experimental work, computer programs, data bases, other original works of authorship, customer lists, business plans, financial information or other subject matter pertaining to any business of the Company or any of its
employees, clients, consultants or licensees. 
 I further agree that for twelve (12) months from this date, I will not directly or
indirectly through others, solicit, induce, recruit or encourage any of the Company’s employees to leave their employment or engage in any behavior that is in violation of my ongoing responsibilities under my Employment Agreement. 

Date: ________________________ 
  

	
	
	   
	 (Employee’s Signature)

	
	   
	 (Type/Print Employee’s Name)

  

 4Terms Document

 Exhibit 4.1 
 CHASE ISSUANCE TRUST 
 as Issuing Entity 
 CLASS B(2006-1) TERMS DOCUMENT 
 dated as of February 28, 2006 
 to 
 AMENDED AND RESTATED 
 CHASESERIES INDENTURE SUPPLEMENT 
 dated as of October 15, 2004 
 to 
 AMENDED AND RESTATED 
 INDENTURE 
 dated as of October 15, 2004, 
 as amended by the First Amendment thereto, dated February 1, 2006 
 WELLS FARGO BANK, NATIONAL ASSOCIATION 
 as Indenture Trustee and Collateral Agent 

 TABLE OF CONTENTS 
  

					
	  	 	 	  	PAGE
	 ARTICLE I Definitions and Other Provisions of General Application

			
	Section 1.01	 	Definitions	  	1
	Section 1.02	 	Governing Law	  	4
	Section 1.03	 	Counterparts	  	4
	Section 1.04	 	Ratification of Indenture and Indenture Supplement	  	4
	
	ARTICLE II The Class B(2006-1) Notes
			
	Section 2.01	 	Creation and Designation	  	5
	Section 2.02	 	Specification of Required Subordinated Amount and Other Terms	  	5
	Section 2.03	 	Interest Payment	  	6
	Section 2.04	 	Calculation Agent; Determination of LIBOR	  	6
	Section 2.05	 	Payments of Interest and Principal	  	7
	Section 2.06	 	Form of Delivery of Class B(2006-1) Notes; Depository; Denominations	  	8
	Section 2.07	 	Delivery and Payment for the Class B(2006-1) Notes	  	8
	Section 2.08	 	Supplemental Indenture	  	8
	Section 2.09	 	Appointment of co-Paying Agent and co-Transfer Agent	  	8

 THIS CLASS B(2006-1) TERMS DOCUMENT (this “Terms Document”), by and between the CHASE ISSUANCE
TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuing Entity”), having its principal office at c/o Wilmington Trust Company, 1100 North Market Street, Wilmington, Delaware 19890-1600, and WELLS FARGO BANK,
NATIONAL ASSOCIATION, a national banking association, as indenture trustee (the “Indenture Trustee”) and collateral agent (the “Collateral Agent”), is made and entered into as of February 28, 2006. 
 Pursuant to this Terms Document, the Issuing Entity and the Indenture Trustee shall create a new Tranche of CHASEseries Class B Notes and shall specify
the principal terms thereof. 
 ARTICLE I 
 Definitions and Other Provisions of General Application 
 Section 1.01 Definitions For all purposes of this Terms
Document, except as otherwise expressly provided or unless the context otherwise requires: 
 (1) the terms defined in this Article have the
meanings assigned to them in this Article, and include the plural as well as the singular; 
 (2) all other terms used herein which are
defined in the Indenture Supplement, the Indenture or the Asset Pool Supplement, either directly or by reference therein, have the meanings assigned to them therein; 
 (3) as used in this Terms Document and in any certificate or other document made or delivered pursuant hereto or thereto, accounting terms not defined in this Terms Document or in any such certificate or other
document, and accounting terms partly defined in this Terms Document or in any such certificate or other document to the extent not defined, shall have the respective meanings given to them under GAAP. To the extent that the definitions of
accounting terms in this Terms Document or in any such certificate or other document are inconsistent with the meanings of such terms under GAAP, the definitions contained in this Terms Document or in any such certificate or other document shall
control; 
 (4) the words “hereof,” “herein,” “hereunder” and words of similar import when used in this Terms
Document shall refer to this Terms Document as a whole and not to any particular provision of this Terms Document; references to any subsection, Section, clause, Schedule or Exhibit are references to subsections, Sections, clauses, Schedules and
Exhibits in or to this Terms Document unless otherwise specified; the term “including” means “including without limitation”; references to any law or regulation refer to that law or regulation as amended from time to time and
include any successor law or regulation; references to any Person include that Person’s successors and assigns; and references to any agreement refer to such agreement, as amended, supplemented or otherwise modified from time to time;

 (5) in the event that any term or provision contained herein shall conflict with or be inconsistent with
any term or provision contained in the Indenture Supplement, the Indenture or the Asset Pool Supplement, the terms and provisions of this Terms Document shall be controlling; and 
 (6) each capitalized term defined herein shall relate only to the Class B(2006-1) Notes and no other Tranche of CHASEseries Notes issued by the Issuing
Entity. 
 “Asset Pool Supplement” means the Amended and Restated Asset Pool One Supplement to the Indenture, dated as of
October 15, 2004, as amended by the First Amendment thereto, dated as of May 10, 2005, and the Second Amendment thereto, dated February 1, 2006, by and among the Issuing Entity, the Indenture Trustee and the Collateral Agent.

 “BDL” means Banque de Luxembourg. 
 “Beneficiary” means Chase Bank USA, National Association, in its capacity as beneficial owner of the Issuing Entity. 
 “Calculation Agent” is defined in Section 2.04(a). 
 “Class B(2006-1) Adverse
Event” means the occurrence of any of the following: (a) an Early Amortization Event with respect to the Class B(2006-1) Notes, (b) an Event of Default and acceleration of the Class B(2006-1) Notes, (c) the Class B Usage of
the Class C Required Subordinated Amount for the Class B(2006-1) Notes becomes greater than zero. 
 “Class B(2006-1) Note”
means any Note, substantially in the form set forth in Exhibit A-1 to the Indenture Supplement, designated therein as a Class B(2006-1) Note and duly executed and authenticated in accordance with the Indenture. 
 “Class B(2006-1) Noteholder” means a Person in whose name a Class B(2006-1) Note is registered in the Note Register. 
 “Class B(2006-1) Termination Date” means the earliest to occur of (a) the Principal Payment Date on which the Outstanding Dollar
Principal Amount of the Class B(2006-1) Notes is paid in full, (b) the Legal Maturity Date and (c) the date on which the Indenture is discharged and satisfied pursuant to Article V thereof. 
 “Class B Required Subordinated Amount of Class C Notes” is defined in Section 2.02(b). 
 “Controlled Accumulation Amount” means $33,333,333.34; provided, however, if the Accumulation Period Length is determined
to be less than twelve months pursuant to Section 3.12(b)(ii) of the Indenture Supplement, the Controlled Accumulation Amount for any Note Transfer Date with respect to the Class B(2006-1) Notes will be the amount specified in the definition of
“Controlled Accumulation Amount” in the Indenture Supplement. 
  

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 “Indenture” means the Amended and Restated Indenture, dated as of October 15, 2004,
between the Issuing Entity and the Indenture Trustee. 
 “Indenture Supplement” means the Amended and Restated CHASEseries
Indenture Supplement, dated as of October 15, 2004, among the Issuing Entity, the Indenture Trustee and the Collateral Agent. 
 “Initial Dollar Principal Amount” means $400,000,000. 
 “Interest Payment Date” means
March 15, 2006 and the 15th day of each month thereafter, or if such 15th day is not a Business Day, the next succeeding Business Day. 
 “Interest Period” means, with respect to any Interest Payment Date, the period from and including the previous Interest Payment Date (or in the case of the initial Interest Payment Date, from and including the Issuance
Date) to but excluding such Interest Payment Date. 
 “Issuance Date” means February 28, 2006. 
 “Legal Maturity Date” means April 15, 2013. 
 “LIBOR” means, for any Interest Period, the London interbank offered rate for one-month United States dollar deposits determined by the Trustee on the LIBOR Determination Date for each Interest Period
in accordance with the provisions of Section 2.04. 
 “LIBOR Determination Date” means (1) February 24, 2006
for the period from and including the Issuance Date through but excluding March 15, 2006 and (2) for each interest period thereafter, the second London Business Day prior to the commencement of the second and each subsequent Interest
Period. 
 “London Business Day” means any Business Day on which dealings in deposits in United States Dollars are
transacted in the London interbank market. 
 “Note Interest Rate” means a rate per annum equal to 0.15% in excess of LIBOR
as determined by the Calculation Agent on the related LIBOR Determination Date with respect to each Interest Period. 
 “Paying
Agent” means Wells Fargo Bank, National Association. 
 “Predecessor Note” means, with respect to any particular
Note, every previous Note evidencing all or a portion of the same debt as that evidenced by such particular Note; and, for the purpose of this definition, any Note authenticated and delivered under Section 3.06 of the Indenture in lieu of a
mutilated, lost, destroyed or stolen Note shall be deemed to evidence the same debt as the mutilated, lost, destroyed or stolen Note. 
  

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 “Record Date” means, for any Note Transfer Date, the last Business Day of the preceding
Monthly Period. 
 “Reference Banks” means four major banks in the London interbank market selected by the Beneficiary.

 “Scheduled Principal Payment Date” means February 15, 2011. 
 “Stated Principal Amount” means $400,000,000. 
 “Telerate Page 3750” means the display page currently so designated on the Bridge Telerate Market Report (or such other page as may replace that page on that service for the purpose of displaying
comparable rates or prices). 
 Section 1.02 Governing Law THIS TERMS DOCUMENT WILL BE CONSTRUED IN ACCORDANCE WITH AND
GOVERNED BY THE LAWS OF THE STATE OF DELAWARE WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 Section 1.03 Counterparts This Terms Document may be executed in any number of counterparts, each of which so executed will be deemed to be
an original, but all such counterparts will together constitute but one and the same instrument. 
 Section 1.04 Ratification of
Indenture and Indenture Supplement As supplemented by this Terms Document, each of the Indenture, the Asset Pool Supplement and the Indenture Supplement is in all respects ratified and confirmed and the Indenture as so supplemented by the Asset
Pool Supplement and the Indenture Supplement as so supplemented by this Terms Document shall be read, taken and construed as one and the same instrument. 
 [END OF ARTICLE I] 
  

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 ARTICLE II 
 The Class B(2006-1) Notes 
 Section 2.01 Creation and Designation There is hereby created a
Tranche of CHASEseries Class B Notes to be issued pursuant to the Indenture and the Indenture Supplement to be known as the “CHASEseries Class B(2006-1) Notes.” 
 Section 2.02 Specification of Required Subordinated Amount and Other Terms For the Class B(2006-1) Notes, for any date of determination, the Class B Required Subordinated Amount of Class C Notes will be an
amount equal to: 
 (a) for any date of determination prior to the occurrence of a Class B(2006-1) Adverse Event, the product of 

(i) the sum of 
 (1) a fraction (x) the numerator of which is equal to the sum of the Class A Required Subordinated Amount of Class C Notes on such date of determination for all outstanding Tranches of CHASEseries Class A Notes for which the
Class A Required Subordinated Amount of Class B Notes on such date of determination is greater than zero and (y) the denominator of which is equal to the Adjusted Outstanding Dollar Principal Amount on such date of determination of all
outstanding CHASEseries Class B Notes (including the Class B(2006-1) Notes), and 
 (2) the product of (x) 7.23861% and
(y) a fraction (A) the numerator of which is equal to (1) the Adjusted Outstanding Dollar Principal Amount on such date of determination of all outstanding CHASEseries Class B Notes (including the Class B(2006-1) Notes) minus
(2) the Class A Required Subordinated Amount of Class B Notes on such date of determination for all outstanding Tranches of CHASEseries Class A Notes for which the Class A Required Subordinated Amount of Class B Notes is greater
than zero; provided, however, that such numerator shall not be less than zero and (B) the denominator of which is equal to the Adjusted Outstanding Dollar Principal Amount on such date of determination of all outstanding
CHASEseries Class B Notes (including the Class B(2006-1) Notes), and 
 (ii) the Adjusted Outstanding Dollar Principal Amount
on such date of determination of the Class B(2006-1) Notes; and 
 (b) for any date of determination on and after the date on which a Class
B(2006-1) Adverse Event shall have occurred, the greater of (1) the amount determined in subsection 2.02(a) for such date of determination and (2) the amount determined in subsection 2.02(a) for the date immediately prior to the date on
which such Class B(2006-1) Adverse Event shall have occurred. 
  

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 (c) The Issuer may change the percentage set forth in subsection 2.02(a)(1)(ii)(x), above, or the
formula set forth in clause (a), above, without the consent of any Noteholder so long as the Issuer has (i) received written confirmation from at least one Note Rating Agency that has rated another tranche of Outstanding Class B Notes of the
CHASEseries, that a similar change in such percentage or formula will not result in a Ratings Effect with respect to that tranche of Class B Notes (or, if the Class B(2006-1) Notes have been rated, written confirmation from each Note Rating Agency
that has rated the Class B(2006-1) Notes that the change in such percentage or formula will not result in a Ratings Effect with respect to any Outstanding Class B(2006-1) Notes) and (ii) delivered to the Indenture Trustee and the Note Rating
Agencies a Master Trust Tax Opinion and an Issuer Tax Opinion. 
 Section 2.03 Interest Payment 
 (a) For each Interest Payment Date, the amount of interest due with respect to the Class B(2006-1) Notes shall be an amount equal to the product of
(i)(A) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, times (B) the Note Interest Rate in effect with respect to the related Interest Period,
times, (ii) the Outstanding Dollar Principal Amount of the Class B(2006-1) Notes determined as of the close of business on the Interest Payment Date preceding the related Note Transfer Date for the Class B(2006-1) Notes; provided,
however, that for the first Interest Payment Date, the amount of interest due with respect to the Class B(2006-1) Notes shall be an amount equal to the product of (x) the Outstanding Dollar Principal Amount of the Class B(2006-1) Notes
on the Issuance Date, (y) 15 divided by 360 and (z) the Note Interest Rate in effect with respect to the Class B(2006-1) Notes determined on February 24, 2006. Interest on the Class B(2006-1) Notes will be calculated on the basis of
the actual number of days elapsed and a 360-day year 
 (b) Pursuant to Section 3.03 of the Indenture Supplement, on each Note Transfer
Date with respect to the Class B(2006-1) Notes, the Indenture Trustee shall deposit into the Class B(2006-1) Interest Funding Sub-Account the portion of CHASEseries Available Finance Charge Collections allocable to the Class B(2006-1) Notes.

 Section 2.04 Calculation Agent; Determination of LIBOR 
 (a) The Issuing Entity hereby agrees that for so long as any Class B(2006-1) Notes are Outstanding, there shall at all times be an agent appointed to
calculate LIBOR for each Interest Period (the “Calculation Agent”). The Issuing Entity hereby initially appoints the Indenture Trustee as the Calculation Agent for purposes of determining LIBOR for each Interest Period. The Calculation
Agent may be removed by the Issuing Entity at any time. If the Calculation Agent is unable or unwilling to act as such or is removed by the Issuing Entity, or if the Calculation Agent fails to determine LIBOR for an Interest Period, the Issuing
Entity shall promptly appoint a replacement Calculation Agent that does not control or is not controlled by or under common control with the Issuing Entity or its Affiliates. The Calculation Agent may not resign its duties, and the Issuing Entity
may not remove the Calculation Agent, without a successor having been duly appointed. 
  

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 (b) On each LIBOR Determination Date, the Calculation Agent shall determine LIBOR on the basis of the
rate for deposits in United States dollars for a one-month period which appears on Telerate Page 3750 or on such comparable system as is customarily used to quote LIBOR as of 11:00 a.m., London time, on such date. If such rate does not appear on
Telerate Page 3750 or on a comparable system as is customarily used to quote LIBOR the rate for that LIBOR Determination Date shall be determined on the basis of the rates at which deposits in United States dollars are offered by the Reference Banks
at approximately 11:00 a.m., London time, on that day to prime banks in the London interbank market for a one-month period. The Calculation Agent shall request the principal London office of each of the Reference Banks to provide a quotation of its
rate. If at least two such quotations are provided, the rate for that LIBOR Determination Date shall be the arithmetic mean of the quotations. If fewer than two quotations are provided as requested, the rate for that LIBOR Determination Date will be
the arithmetic mean of the rates quoted by major banks in New York City, selected by the Beneficiary, at approximately 11:00 a.m., New York City time, on that day for loans in United States dollars to leading European banks for a one-month period.

 (c) The Note Interest Rate applicable to the then current and the immediately preceding Interest Periods may be obtained by telephoning
the Indenture Trustee at its corporate trust office at (612) 667-8058 or such other telephone number as shall be designated by the Indenture Trustee for such purpose by prior written notice by the Indenture Trustee to each Noteholder from time
to time. 
 (d) On each LIBOR Determination Date, the Calculation Agent shall send to the Indenture Trustee and the Beneficiary, by
facsimile transmission, notification of LIBOR for the following Interest Period. 
 Section 2.05 Payments of Interest and
Principal 
 (a) Any installment of interest or principal payable on any Class B(2006-1) Note which is punctually paid or duly provided
for by the Issuing Entity and the Indenture Trustee on the applicable Interest Payment Date or Principal Payment Date shall be paid by the Paying Agent to the Person in whose name such Class B(2006-1) Note (or one or more Predecessor Notes) is
registered on the Record Date, by wire transfer of immediately available funds to such Person’s account as has been designated by written instructions received by the Paying Agent from such Person not later than the close of business on the
third Business Day preceding the date of payment or, if no such account has been so designated, by check mailed first-class, postage prepaid to such Person’s address as it appears on the Note Register on such Record Date, except that with
respect to Notes registered on the Record Date in the name of the nominee of Cede & Co., payment shall be made by wire transfer in immediately available funds to the account designated by such nominee. 
 (b) The right of the Class B(2006-1) Noteholders to receive payments from the Issuing Entity will terminate on the first Business Day following the
Class B(2006-1) Termination Date. 
  

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 Section 2.06 Form of Delivery of Class B(2006-1) Notes; Depository; Denominations.

 (a) The Class B(2006-1) Notes shall be delivered in the form of a global Registered Note as provided in Sections 2.02 and 3.01(i) of the
Indenture, respectively. 
 (b) The Depository for the Class B(2006-1) Notes shall be The Depository Trust Company, and the Class B(2006-1)
Notes shall initially be registered in the name of Cede & Co., its nominee. 
 (c) The Class B(2006-1) Notes will be issued in
minimum denominations of $100,000 and integral multiples of $1,000 in excess of $100,000. 
 Section 2.07 Delivery and Payment for
the Class B(2006-1) Notes The Issuing Entity shall execute and deliver the Class B(2006-1) Notes to the Indenture Trustee for authentication, and the Indenture Trustee shall deliver the Class B(2006-1) Notes when authenticated, each in
accordance with Section 3.03 of the Indenture. 
 Section 2.08 Supplemental Indenture The Issuing Entity may enter into a
supplemental indenture with respect to the Class B(2006-1) Notes as provided in Section 9.01 of the Indenture; provided, however, that any supplemental indenture which provides for an additional or alternative form of credit
enhancement for the Class B(2006-1) Notes shall, in addition to the requirements set forth in Section 9.01 of the Indenture, require confirmation from the Note Rating Agencies that have rated any Outstanding Notes of the CHASEseries that such
change in credit enhancement will not result in a Ratings Effect with respect to any Outstanding Notes of the CHASEseries. 
 Section 2.09 Appointment of co-Paying Agent and co-Transfer Agent BDL is appointed as co-paying agent and as co-transfer agent in Luxembourg with respect to the Class B(2006-1) Notes for so long as the Class B(2006-1) Notes are
listed on the Luxembourg Stock Exchange. Any reference in this Terms Document, the Indenture Supplement, the Asset Pool Supplement and the Indenture to the Paying Agent or the Transfer Agent shall be deemed to include BDL as co-paying agent or
co-transfer agent, as the case may be, unless the context requires otherwise. 
 [END OF ARTICLE II] 
  

 8 

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

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

	Name:	 	Keith W. Schuck
	Title:	 	President
	
	 WELLS FARGO BANK, NATIONAL ASSOCIATION, as Indenture Trustee and
 Collateral Agent

		
	By:	 	 /s/ Cheryl C. Zimmerman

	Name:	 	Cheryl C. Zimmerman, CCTS
	Title:	 	Assistant Vice President

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