Document:

Filed by sedaredgar.com - Mabcure Inc - Exhibit 10.8

EMPLOYMENT AGREEMENT 

THIS AGREEMENT is made as of 7th day of July, 2008 (the
"Effective Date"), 

BETWEEN: 

  
    
      MABCURE INC., a corporation organized under the
        laws of the State of Nevada, having an office at 3702 South Virginia Street,
        Suite #G12 - 401, Reno, Nevada 89502, USA 

      (the "Company") 

    

  

AND: 

  
    
      DR. ELI ORR, an individual having an address at
        23 Greenhill Road, Leicester LE2 3DN, England 

      (the "Executive") 

    

  

WHEREAS: 

	A. 	
      The Company is engaged in the business of developing and
      manufacturing products for cancer detection and therapy (the
      "Business"); and

	 	 
	B. 	
      In connection with an intellectual property purchase
      agreement dated January 10, 2008 between the Company, Indigoleaf
      Associates Ltd. and Dr. Amnon Gonenne (the "Purchase Agreement"),
      the Company wishes to employ the Executive and the Executive has agreed to
      provide his services to the Company upon the terms and conditions provided
      herein.

NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of
the representations, warranties, covenants and agreements hereinafter contained
and other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, the parties hereto covenant and agree as follows: 

ARTICLE 1 
NATURE OF EMPLOYMENT 

1.1        Position.
The Company does hereby employ the Executive in the position of Chief Scientific
Officer, and the Executive does hereby accept such employment by the Company,
all upon and subject to the terms and conditions of this Agreement. 

- 2 - 

1.2        Duties and
Functions. The Company and the Executive agree that the Executive shall be
responsible to and shall report to the President and Chief Executive Officer of
the Company. The President and Chief Executive Officer may vary the conditions,
duties and functions of the Executive's employment from time to time according
to the Company's operational and other needs provided that his duties shall
reasonably reflect the Executive's position with the Company as set forth
herein. The Executive shall use his reasonable best efforts to produce timely
and good quality work, while acting always in a competent, trustworthy and loyal
manner. The Executive agrees to carry out, using his reasonable best efforts and
in a manner that shall promote the interests of the Company, such duties and
functions as the President and Chief Executive Officer may request from time to
time, including, but not limited to, the following: 

	 	(a) 	
      develop and implement the Company’s long-term technical
      strategy and vision, which includes providing overall strategic direction
      to the R&D organization;

	 	 	 
	 	(b) 	
      oversee the development and direction of research aimed
      at improving current products and generating new products and
    services;

	 	 	 
	 	(c) 	
      identify new cancer detection and therapy technologies,
      issues and opportunities through linkages with universities and other
      institutions and recommend courses of action;

	 	 	 
	 	(d) 	
      identify niche opportunities and support new market
      creation;

	 	 	 
	 	(e) 	
      manage R&D budget and activities;

	 	 	 
	 	(f) 	
      coordinate solutions/technical efforts across the
      enterprise;

	 	 	 
	 	(g) 	
      conduct independent "peer reviews";

	 	 	 
	 	(h) 	
      guide development and management of the Company’s patents
      and other intellectual property;

	 	 	 
	 	(i) 	
      steward the development of technical skills in research
      staff; and

	 	 	 
	 	(j) 	
      carry out supervisory responsibilities in accordance with
      the Company’s policies and applicable laws, including, but not limited to,
      interviewing, hiring and training employees; planning, assigning and
      directing work; appraising performance; rewarding and disciplining
      employees; addressing complaints and resolving
problems.

The Executive shall always act in accordance with any decision
of, and obey and carry out all lawful orders given to him by the President and
Chief Executive Officer of the Company and the board of directors of the Company
(the "Board"); and the Executive acknowledges that any such decision or
order may limit, restrict or remove any powers or discretions which might
otherwise have been exercised by the Executive. The Executive acknowledges that
the 

- 3 - 

Company may, at its option, appoint additional executives from
time to time; provided, however, that the appointment of such additional
executives shall not unreasonably diminish the Executive’s responsibilities as
the Chief Scientific Officer of the Company.

1.3        Full Time
Position. Unless prevented by ill health, the Executive shall, during the
term hereof, devote his full business time and his care and attention to the
Business of the Company.

1.4        Securities
Laws. The Executive acknowledges that he is undertaking an executive
position with the Company, which is a public company. The Executive agrees to
abide by and comply with all securities laws, regulations and rules and all
stock exchange rules and policies, as may be applicable from time to time. In
particular, and without limiting the generality of the foregoing, the Executive
agrees that he shall comply with all applicable securities legislation and
regulatory policies applicable to the Company and the Executive, as may be
applicable from time to time, including, but not limited to, United States
securities laws (in particular, Regulation FD) and the policies of the United
States Securities and Exchange Commission (the "SEC"). 

1.5        Term of
Agreement. The employment of the Executive hereunder shall commence on the
Effective Date and shall continue for so long as the Executive is employed by
the Company, subject to termination as provided for in this Agreement. 

ARTICLE 2 
EXECUTIVE COMPENSATION 

2.1        Salary.
The Company shall pay to the Executive, subject to the Executive being an
employee in good standing of the Company, in 24 equal instalments payable
semi-monthly in arrears, an aggregate annual salary of US$140,000, subject to
deductions required to be made by the Company by all applicable legislation,
including, but not limited to, all tax returns and payments required to be filed
or made to any federal, state or local tax authority with respect to the
Executive’s employment hereunder and receipt of compensation hereunder. At the
sole discretion of the Board, upon the completion of the Executive’s first year
of employment and each year thereafter, the Board shall review the Executive’s
annual salary and shall adjust it for any erosion of income caused by inflation.
In addition, adjustments shall be made at the sole discretion of the Board, to
reflect the Executive’s contribution to the Company, when appropriate. 

2.2        Bonus. The
Company and the Executive agree that the Executive shall be eligible to receive
an annual discretionary bonus based upon the performance of the Executive and
that of the Company. The evaluation criteria shall be determined by the Board at
its sole discretion. 

2.3        Benefits.
Subject to: (i) the approval by the Board, at its sole discretion, of the
Executive’s participation in the various plans from time to time; (ii) the terms
of the various plans in effect with the Company from time to time; (iii) the
Executive taking the necessary steps to ensure that the Executive (and, where
applicable, the Executive's eligible dependents) 

- 4 - 

are properly registered under the plans; and (iv) the payment
of costs payable by the Executive where applicable, the Company and the
Executive agree that the Executive shall be eligible to receive additional
benefits to the Executive during the Executive's employment hereunder,
including: 

	 	(a) 	
      entitlement to participate in all employee benefit
      programs and plans, made available to other salaried employees of the
      Company, including, profit sharing, pension, short and long-term
      disability insurance, hospital, major medical insurance and group life
      insurance plans; and

	 	 	 
	 	(b) 	
      entitlement to participate in the Company’s stock option
      plan.

2.4        Vacation.
  The Executive shall be entitled to four (4) weeks vacation per calendar year.
  Vacation time shall be taken by the Executive at such times so as to minimize
  the disruption to the Business and affairs of the Company. 

2.5        Expenses.
The Company agrees to pay or promptly reimburse the Executive for, in advance if
requested by the Executive, the reasonable travelling, entertainment, telephone
and other expenses actually and properly incurred by the Executive in connection
with the provision of services by the Executive hereunder that are approved by
the Company. Such payment of or reimbursement for expenses shall be subject to
the Executive keeping proper accounts and furnishing to the Company within 60
days after the date the expenses are incurred, all applicable statements,
vouchers and other evidence of expense in such form as may be reasonably
requested by the Company. 

ARTICLE 3 
TERMINATION OF EMPLOYMENT

3.1        Termination by
Executive. The Executive may terminate his employment hereunder upon giving
the Company 90 days written notice of the effective date of his resignation. On
receiving such notice, the Company may elect to pay the Executive salary (and
all related benefits owing to the Executive for such period) in lieu of working
during the notice period, in which case the termination shall be effective
immediately. 

3.2        Termination by
the Company. The Company may terminate the Executive's employment hereunder
upon giving the Executive: (i) 90 days prior written notice of the effective
date of the termination; or (ii) salary (and all related benefits owing to the
Executive for such period) in lieu thereof. In the event of the termination of
the Executive’s employment hereunder by the Company, the Executive shall be
entitled to one (1) month’s salary for each full year that the Executive was
employed by the Company, in addition to any notice period (or payment in lieu
thereof) provided for hereunder.

3.3        Salary in Lieu
of Notice. The Executive agrees that if the Company elects to pay salary
(and all related benefits) owing to the Executive for such period in lieu of
notice, the Executive's employment may be terminated immediately. The Executive
further agrees that 

- 5 - 

in the case of any termination of employment, the Executive
shall not be entitled to any notice or payments in excess of those specified in
Section 3.2 above. 

3.4        Termination
for Cause. Notwithstanding Section 3.2 hereof, the Company may terminate the
Executive's employment for cause (defined as: (i) the continued failure by the
Executive to substantially perform his duties according to the terms of hereof
(other than any such failure resulting from the disability (defined as the
inability of the Executive to perform the material and substantial duties in
respect of the services to be provided hereunder on a full-time basis for a
period of four (4) consecutive weeks during the term hereof) of the Executive)
after the Company shall have given the Executive reasonable notice in writing of
such failure and a reasonable opportunity, of not less than 30 days, to correct
same; (ii) the conviction of the Executive for embezzlement, theft, fraud or
other criminal offence; (iii) the breach by the Executive of a fiduciary duty
owed to the Company; or (iv) the breach by the Executive of any confidentiality
or non-competition agreement of undertaking of the Executive) without notice or
payment. 

3.5        Fiduciary Duty.
  The Executive acknowledges that he is undertaking a position of authority and
  responsibility with the Company and as such he shall acquire and develop unique
  and valuable contacts, skills and talents during the term of his employment
  with the Company. The Executive furthermore acknowledges that as one of the
  Company's principal representatives, he shall have primary responsibility for
  developing the loyalty and goodwill of the Company's employees and customers.
  Accordingly, during the term of this Agreement and for a period of 12 months
  after the Executive ceases to be an employee of the Company, for any reason
  whatsoever, the Executive agrees to conduct himself in such manner as shall
  not breach any fiduciary duty he may owe to the Company at such time. In particular,
  and without limiting the generality of the foregoing, during the term of this
  Agreement and for a period of 12 months after the Executive ceases to be an
  employee of the Company, for any reason whatsoever, unless expressly consented
  to by the Company in advance by writing, the Executive shall not solicit or
  entice, or attempt to solicit or entice, either directly or indirectly, any
  supplier, contractor, consultant, employee, customer, investor or prospective
  investor of the Company, as at the date of termination of this Agreement, to
  become a supplier, contractor, consultant, employee, customer, or investor of
  any business or enterprise that directly competes with the Business of the Company,
  as conducted by the Company from time to time during the term of this Agreement
  or any extension thereof. 

3.6        Remedies.
The parties hereto acknowledge and agree that any violation or threatened
violation by the Executive of any of the provisions contained in Section 3.5
shall result in immediate and irreparable damage to the Company and that the
Company could not adequately be compensated for such damage by monetary award
alone. Accordingly, the Executive agrees that in the event of any such violation
or threatened violation, the Company shall, in addition to any other remedies
available to the Company at law or in equity, be entitled as a matter of right
to apply to such relief by way of restraining order, temporary or permanent
injunction and to such other relief as any court of competent jurisdiction may
deem just and proper. 

- 6 - 

3.7        Exit
Interview. In the event of termination of employment by either party,
the Executive shall meet with the President and Chief Executive Officer for an
interview. At that time, the Executive shall deliver up to the President and
Chief Executive Officer all documents in the Executive's possession including
all notes, graphs, publications, data and other materials obtained or produced
by the Executive during his employment, including, without limitation, those
bearing Confidential Information as defined in Section 4.2 hereof. 

3.8        Survival of
Terms. The representations, warranties, covenants, agreements, obligations
and liabilities of the Executive under any and all of Sections 1.4, 3.5, 4.1,
4.3 and 4.4 of this Agreement shall survive any expiration or termination of
this Agreement. Any expiration or termination of this Agreement shall be without
prejudice to any rights and obligations of the parties hereto arising or
existing up to the effective date of such expiration or termination, or any
remedies of the parties with respect thereto. 

3.9        Reasonable
Restrictions. The Executive agrees that all restrictions in this Article 3
are reasonable and valid, and all defences to the strict enforcement thereof by
the Company are hereby waived by the Executive. 

ARTICLE 4 
CONFIDENTIALITY AND INTELLECTUAL
PROPERTY 

4.1       
Confidentiality. The Executive understands and agrees that, in the
performance of the Executive's obligations under this Agreement, the Executive
shall obtain knowledge of Confidential Information (as defined below) relating
to the business or affairs of the Company or of any of its subsidiary or
affiliated companies. The Executive agrees that the Executive shall not, without
the prior written consent of the President and Chief Executive Officer of the
Company, either before or after termination of this Agreement: 

	 	(a) 	
      use or disclose any Confidential Information outside of
      the Company (or any of its subsidiary or affiliated companies) or for any
      use or purpose other than those of the Company (or any of its subsidiary
      or affiliated companies);

	 	 	 
	 	(b) 	
      publish any article with respect thereto: provided,
      however, that the Executive shall be entitled to publish articles in
      recognized scientific and peer reviewed journals with respect to the
      Confidential Information with the prior written consent of the Company,
      which consent shall not be unreasonably withheld. Notwithstanding any
      other provision hereof, if a proposed article contains Confidential
      Information that is not reasonably protected, in whole or in part, by a
      patent, then the Company may withhold its consent to the publication of
      the article by the Executive; or

	 	 	 
	 	(c) 	
      except in providing the services hereunder, remove or aid
      in the removal from the premises of the Company any Confidential
      Information or any property or material relating
thereto.

- 7 - 

4.2        Definition of
Confidential Information. In this Agreement, "Confidential
Information" means any information or knowledge including, but not limited
to, any formula, pattern, design, system, program, device, software, plan,
budgets, costs, customer information, results of operations, process, know how,
research, discovery, strategy, method, idea or compilation of information that:
(i) relates to the business or affairs of the Company (or any of its subsidiary
or affiliated companies) or to any inventions or results from its or their
research and/or development activities; (ii) is private or confidential in that
it is not generally known or available to the public; or (iii) gives or would
give the Company (or any of its subsidiary or affiliated companies) an
opportunity to obtain an advantage over competitors who do not know of or use
it; provided, however, that Confidential Information shall not include any
information or knowledge that: (i) was rightfully known to the Executive prior
to the commencement of his employment with the Company; (ii) shall have become
generally available to the public, except as a result of any breach of this
Agreement by the Executive; or (iii) is lawfully disclosed to the Executive by
third parties that have no obligation of confidentiality, without restrictions
as to use or disclosure, to the Company.

4.3        Inventions and
Patents. In the event the Executive contributes to any patentable
invention as a result of his employment with the Company, any such patentable
invention shall be the exclusive property of the Company and the Company shall
have the exclusive right to file patent applications in the name of the Company
in connection therewith and the Executive shall cooperate with the Company and
provide all necessary assistance in the filing and prosecution of such patent
applications. 

4.4       
Copyrights. The Executive hereby assigns to the Company all copyrights
and similar rights in all works created by the Executive in whole or in part in
the course of his employment with the Company. 

4.5        Injunctive
Relief. The Executive acknowledges that any unauthorized disclosure or use
of Confidential Information by the Executive may result in material damages to
the Company and consents to the issuance of an injunction or other equitable
remedy to prohibit, prevent or enjoin unauthorized disclosure or use of
confidential information by the Executive. 

ARTICLE 5 
CONFLICT OF INTEREST 

5.1        Disclosure of
Conflicts of Interest. To the extent of his reasonable knowledge, from time
to time, the Executive shall promptly, fully and frankly disclose to the Company
in writing: 

	 	(a) 	
      the nature and extent of any interest the Executive, or
      any of his Associates, has or may have, directly or indirectly, in any
      contract or transaction or proposed contract or transaction of or with the
      Company;

	 	 	 
	 	(b) 	
      every office the Executive, or any of his Associates, may
      hold or acquire, and every property the Executive or any of his
      Associates, may possess or acquire, whereby directly or indirectly a duty
      or interest might be created in conflict

- 8 - 

	 		
      with the interests of the Company or the duties and
      obligations of the Executive under this Agreement; and

	 	 	 
	 	(c) 	
      the nature and extent of any conflict referred to in
      Paragraph 5.1(a) or (b) above.

In this Agreement, the expression "Associate" shall
mean: (i) a corporation of which that person beneficially owns, directly or
indirectly, shares carrying more than 10% of the voting rights attached to all
shares of the corporation for the time being outstanding carrying voting rights
that are at that time capable of being exercised; (ii) a partner of that person;
(iii) a trust or estate in which that person has a substantial beneficial
interest or for which that person serves as trustee or in a similar capacity;
(iv) a spouse, son or daughter of that person; or (v) a relative of that person
or of his spouse, including the parents, brothers and sisters. 

5.2        Avoidance of
Conflicts of Interest. The Executive shall not enter into any agreement,
arrangement or understanding with any other person or entity that would in any
way reasonably conflict or interfere with this Agreement or the duties and
obligations of the Executive under this Agreement or that would otherwise
prevent the Executive from performing the services hereunder, and the Executive
hereby represents and warrants that neither he nor any of his Associates has
entered into any such agreement, arrangement or understanding. 

ARTICLE 6 
GENERAL 

6.1       
Interpretation. If the sense or context of this Agreement so requires,
the singular number only shall include the plural and vice versa and
words importing the masculine gender shall include the feminine and neuter
genders and vice versa and words importing persons shall include
individuals, partnerships, associations, trusts, unincorporated organizations
and corporations and vice versa. In this Agreement "herein", "hereby",
"hereunder", "hereof", "hereto" and words of similar import, refer to this
Agreement as a whole and not to any particular Section or part of this
Agreement. The headings and captions of Sections of this Agreement are inserted
for convenience of reference only and are not to be considered when interpreting
this Agreement. All sums of money set forth in this Agreement are expressed in
United States dollars. 

6.2        Benefit of
Agreement. This Agreement shall enure to the benefit of and be binding upon
the heirs, executors, administrators and legal personal representatives of the
Executive and the successors and assigns of the Company, respectively. 

6.3        Entire
Agreement. This Agreement constitutes the entire agreement between the
parties hereto with respect to the subject matter hereof and cancels and
supersedes any prior understandings and agreements between the parties hereto
with respect thereto. There are not representations, warranties, forms,
conditions, undertakings or collateral agreements, express implied or statutory
between the parties other than as expressly set forth in this Agreement. 

- 9 - 

6.4        Waivers.
No waiver of any breach of any term or provision of this Agreement shall be
effective or binding unless made in writing and signed by the party purporting
to give the same and, unless otherwise provided in the written waiver, shall be
limited to the specific breach waived. 

6.5       
Assignment. This contract being a contract of personal services, it is
hereby agreed that neither party hereto may assign his or its rights or
obligations under this Agreement, in whole or in part. 

6.6       
Severability. If any provision of this Agreement is determined to be
invalid or unenforceable in whole or in part, such invalidity or
unenforceability shall attach only to such provision or part thereof and the
remaining part of such provision and all other provisions hereof shall continue
in full force and effect. 

6.7        Notices.
Any demand, notice or other communication under this Agreement in connection
herewith shall be sufficiently given: 

	 	(a) 	
      by the Company to the Executive, if delivered personally
      to the Executive, or if delivered or sent by prepaid registered mail to
      the Executive, as the case may be, at the address of the intended
      recipient shown on the first page of this Agreement; and

	 	 	 
	 	(b) 	
      by the Executive to the Company, if delivered personally
      to the President and Chief Executive Officer of the Company or if
      delivered or sent by prepaid registered mail to the Company at the address
      of the Company shown on the first page of this Agreement addressed to the
      attention of the President and Chief Executive
Officer.

Any party may change their address for notices by giving notice
in writing of such change to the other parties hereto as provided above. Any
notice or communication shall be deemed to have been given, if delivered as
aforesaid, when delivered, and if mailed in Canada as aforesaid, on the fourth
business day after the date of mailing. 

6.8        Further
Assurances. Each party hereto shall, from time to time, execute and deliver
all such further documents and instruments and do all acts and things as the
other party may reasonably require to effectively carry out or better evidence
or perfect the full intent and meaning of this Agreement. 

6.9       
Arbitration. Should there be a disagreement or a dispute between the
parties hereto with respect to this Agreement or the interpretation thereof, the
same shall be referred to a single arbitrator who is a member of the American
Arbitration Association whose identity shall be acceptable to both parties, and
the determination of such arbitrator shall be final and binding upon the
parties. The Arbitration shall be conducted in compliance with the rules of the
American Arbitration Association and shall take place in New York, New York.

6.10      Electronic Means.
Delivery of an executed copy of this Agreement by electronic facsimile
transmission or other means of electronic communication capable of producing a

- 10 - 

printed copy shall be deemed to be execution and delivery of
this Agreement as of the effective date of this Agreement. 

6.11      Counterparts. This
Agreement may be executed in several counterparts, each of which shall be deemed
to be an original and all of which shall together constitute one and the same
instrument. 

6.12      Copy of Agreement.
The Executive hereby acknowledges receipt of a copy of this Agreement duly
signed by the Company. 

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

MABCURE INC. 

Per:        /s/ Yapp Moi
Lee

              
Authorized Signatory 

	SIGNED, SEALED and DELIVERED by 	) 	  
	DR. ELI ORR in the presence of: 	) 	  
	  	) 	  
	/s/ Ralphael Yahel 	) 	  
	Signature 	) 	  
	Ralphael Yahel 	) 	/s/ Elisha Orr 
	Print Name 	) 	DR. ELI ORR 
	50 Burla St. Tel Aviv 69364, Israel 	) 	  
	Address 	) 	  
	  	) 	  
	Scientist 	) 	  
	Occupation 	) 	  
	  	)BA CREDIT CARD TRUST

            

            as Issuer

            

            CLASS C(2008-4) TERMS DOCUMENT

            

            dated as of July 10, 2008

            to

            AMENDED AND RESTATED BASERIES INDENTURE SUPPLEMENT

            dated as of June 10, 2006

            to

            SECOND AMENDED AND RESTATED INDENTURE

            dated as of October 20, 2006

            

            THE BANK OF NEW YORK MELLON

            

            as Indenture Trustee

             

            

            	 

             

            
                

            

            

            

            	
                        ARTICLE I

                        Definitions and Other Provisions of General Application

                          

                    	
                    
	
                    
	
                        Section 1.01. Definitions

                    	
                        1

                    	
                    
	
                        Section 1.02. Governing Law; Submission to Jurisdiction; Agent for Service of Process

                    	
                        5

                    	
                    
	
                        Section 1.03. Counterparts

                    	
                        6

                    	
                    
	
                        Section 1.04. Ratification of Indenture and Indenture Supplement

                    	
                        6

                    	
                    
	
                        ARTICLE II

                        The Class C(2008-4) Notes

                          

                    	
                    
	
                    
	
                        Section 2.01. Creation and Designation

                    	
                        7

                    	
                    
	
                        Section 2.02. Interest Payment

                    	
                        7

                    	
                    
	
                        Section 2.03. Calculation Agent; Determination of LIBOR

                    	
                        7

                    	
                    
	
                        Section 2.04. Payments of Interest and Principal

                    	
                        8

                    	
                    
	
                        Section 2.05. Targeted Deposit to the Class C Reserve Account

                    	
                        8

                    	
                    
	
                        Section 2.06. Form of Delivery of Class C(2008-4) Notes; Depository; Denominations

                    	
                        9

                    	
                    
	
                        Section 2.07. Delivery and Payment for the Class C(2008-4) Notes

                    	
                        9

                    	
                    
	
                        Section 2.08. Targeted Deposits to the Accumulation Reserve Account

                    	
                        9

                    	
                    
	
                        Section 2.09. Modification of Section 3.10(b) of the Indenture Supplement

                    	
                        9

                    	
                    
	
                        ARTICLE III

                        Representations and Warranties 

                        

                    	
                    
	
                    
	
                        Section 3.01. Issuer's Representations and Warranties

                    	
                        10

                    	
                    

            

            

            
                

            

            
                 
            

            THIS CLASS C(2008-4) TERMS DOCUMENT (this "Terms Document"), by and between BA CREDIT CARD TRUST, a statutory trust created under the laws of the State of Delaware (the
            "Issuer"), having its principal office at Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890, and THE BANK OF NEW YORK MELLON, a New York banking corporation, as Indenture Trustee (the "Indenture Trustee"), is made and entered into as of July
            10, 2008.

            

            Pursuant to this Terms Document, the Issuer and the Indenture Trustee shall create a new tranche of Class C 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:

            (a)     the terms defined in this Article have the meanings assigned to them in this Article, and include the plural as well as the singular;

            (b)     all other terms used herein which are defined in the Amended and Restated BAseries Indenture Supplement, dated as of June 10, 2006 (the "Indenture Supplement"), between the Issuer and the Indenture Trustee, or the
            Second Amended and Restated Indenture, dated as of October 20, 2006 (the "Indenture"), between the Issuer and the Indenture Trustee, as acknowledged and accepted by FIA, as Servicer, either directly or by reference therein, have the meanings assigned to them therein;

            (c)     all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with generally accepted accounting principles and, except as otherwise herein expressly provided, the term "generally
            accepted accounting principles" with respect to any computation required or permitted hereunder means such accounting principles as are generally accepted in the United States of America at the date of such computation;

            (d)     all references in this Terms Document to designated "Articles," "Sections" and other subdivisions are to the designated Articles, Sections and other subdivisions of this Terms Document as originally
            executed;

            (e)     the words "herein," "hereof" and "hereunder" and other words of similar import refer to this Terms Document as a whole and not to any particular Article, Section or other subdivision;

            (f)      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 or the Indenture, the terms and provisions of this
            Terms Document shall be controlling;

            (g)     each capitalized term defined herein shall relate only to the Class C(2008-4) Notes and no other tranche of Notes issued by the Issuer; and

            

            
                

            

            (h)     "including" and words of similar import will be deemed to be followed by "without limitation."

            "Accumulation Commencement Date" shall have the meaning specified in the Indenture Supplement;
            provided, however, that solely with respect to the Class C(2008-4) Notes, wherever the word "twelve (12)" appears in the definition of "Accumulation Commencement Date" in the Indenture Supplement, it shall be replaced with the word "eleven (11)".

            

            "Accumulation Reserve Funding Period" shall mean, (a) if the Accumulation Period Length is determined to be one (1) month, there shall be no Accumulation Reserve Funding Period and (b)
            otherwise, the period (x) commencing on the earlier to occur of (i) the Monthly Period beginning three (3) calendar months prior to the first Transfer Date for which a budgeted deposit is targeted to be made into the Principal Funding sub-Account of the Class C(2008-4) Notes pursuant to Section 3.10(b) of the Indenture Supplement and (ii) the Monthly Period following
            the first Transfer Date following and including the July 2008 Transfer Date for which the Quarterly Excess Available Funds Percentage is less than 4%, but in such event the Accumulation Reserve Funding Period shall not be required to commence earlier than 11 months prior to the Expected Principal Payment Date and (y) ending on the close of business on the last day of the
            Monthly Period preceding the earlier to occur of (i) the Expected Principal Payment Date for the Class C(2008-4) Notes and (ii) the date on which the Class C(2008-4) Notes are paid in full.

            

            "Base Rate" means, with respect to any Monthly Period, the sum of (i) the Weighted Average Interest Rates for the Outstanding BAseries Notes, (ii) the Net Servicing Fee Rate (as
            such term is defined in the Series 2001-D Supplement) and (iii) so long as FIA or The Bank of New York Mellon is the Servicer, the Servicer Interchange Rate, in each case, for such Monthly Period.

            

            "BAseries Servicer Interchange" means, with respect to any Monthly Period, an amount equal to the product of (a) the Servicer Interchange (as such term is defined in the Series 2001-D
            Supplement) with respect to such Monthly Period and (b) a fraction the numerator of which is the Weighted Average Available Funds Allocation Amount for the BAseries for such Monthly Period and the denominator of which is the Weighted Average Available Funds Allocation Amount for all series of Notes for such Monthly Period.

            

            "Calculation Agent" is defined in Section 2.03(a).

            

            "Class C Reserve Account Percentage" means, with respect to any Transfer Date, (i) zero, if the Quarterly Excess Available Funds Percentage on such Transfer Date is greater than or equal to
            4.50%, (ii) 1.25%, if the Quarterly Excess Available Funds Percentage on such Transfer Date is less than 4.50% and greater than or equal to 4.00%, (iii) 2.00%, if the Quarterly Excess Available Funds Percentage on such Transfer Date is less than 4.00% and greater than or equal to 3.50%, (iv) 2.75%, if the Quarterly Excess Available Funds Percentage on such Transfer Date is less than 3.50% and greater than or equal to 3.00%, (v) 3.50%, if the Quarterly Excess Available Funds
            Percentage on such Transfer Date is less than 3.00% and greater than or equal to 2.50%, (vi) 4.50%, if the Quarterly Excess Available Funds Percentage on such Transfer Date

             

             

            
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            is less than 2.50% and greater than or equal to 2.00%, and (vii) 6.00%, if the Quarterly Excess Available Funds Percentage on such Transfer Date is less than 2.00%.

            

            "Class C(2008-4) Note" means any Note, substantially in the form set forth in Exhibit A-3
            to the Indenture Supplement, designated therein as a Class C(2008-4) Note and duly executed and authenticated in accordance with the Indenture.

            

            "Class C(2008-4) Noteholder"
            means a Person in whose name a Class C(2008-4) Note is registered in the Note Register.

            

            "Class C(2008-4) Termination Date" means the earliest to occur of (a) the Principal Payment Date on which the Outstanding Dollar Principal Amount of the Class C(2008-4) 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 VI thereof.

            

            "Controlled Accumulation Amount" means $22,727,272.73; provided,
            however, if the Accumulation Period Length is determined to be less than eleven (11) months pursuant to Section 3.10(b)(ii) of the Indenture Supplement, as modified by this Terms Document, the Controlled Accumulation Amount shall be the amount specified in the definition
            of "Controlled Accumulation Amount" in the Indenture Supplement; provided further, however, that solely with respect to the Class C(2008-4) Notes, wherever the word "twelve (12)" appears in the definition
            of "Controlled Accumulation Amount" in the Indenture Supplement, it shall be replaced with the word "eleven (11)".

            

            "Excess Available Funds Percentage" means, with respect to any Transfer Date, the amount, if any, by which the Portfolio Yield for the preceding Monthly Period exceeds the Base Rate for
            such Monthly Period.

            

            "Expected Principal Payment Date" means July 15, 2009.

            

            "Initial Dollar Principal Amount" means $250,000,000.

            

            "Interest Payment Date" means the fifteenth day of each month, or if such fifteenth day is not a Business Day, the next succeeding Business Day, commencing
            August 15, 2008.

            

            "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) through the day preceding such Interest Payment Date.

            

            "Issuance Date" means July 10, 2008.

            

            "Legal Maturity Date" means December 15, 2011.

             

             

            
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            "LIBOR" means, for any Interest Period, the London interbank offered rate for one-month United States dollar deposits or, for the first
            Interest Period, the rate that corresponds to the actual number of days in the first Interest Period determined by the Calculation Agent on the LIBOR Determination Date for that Interest Period in accordance with the provisions of Section 2.03.

            

            "LIBOR Determination Date" means July 8, 2008 for the period from and including the
            Issuance Date to but excluding August 15, 2008, and for each Interest Period thereafter, the second London Business Day prior to the Interest Payment Date on which such Interest Period commences.

            

            "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 per annum rate equal to 3.25% 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 The Bank of New York Mellon.

            

            "Portfolio Yield" means, with respect to any Monthly Period, the annualized percentage equivalent of a fraction, the numerator of which is (a) the amount of Available Funds allocated
            to the BAseries pursuant to Section 501 of the Indenture, plus (b) any Interest Funding sub-Account Earnings on the related Transfer Date, plus (c) any amounts to be treated as BAseries Available Funds pursuant to Sections 3.20(d) and
            3.27(a) of the Indenture Supplement, plus (d) the BAseries Servicer Interchange for such Monthly Period, minus (e) the excess, if any, of the sum of the PFA Prefunding Earnings Shortfall plus the PFA Accumulation Earnings Shortfall over the sum of the aggregate amount to be treated as BAseries Available Funds for such Monthly Period pursuant to
            Sections 3.04(a)(ii) and 3.25(a) of the Indenture Supplement plus any other amounts applied to cover earnings shortfalls on amounts in the Principal Funding sub-Account for any tranche of BAseries Notes for such Monthly Period, minus (f) the BAseries Investor Default
            Amount for such Monthly Period, and the denominator of which is the Weighted Average Available Funds Allocation Amount for the BAseries for such Monthly Period.

            

            "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 306 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.

            

            "Quarterly Excess Available Funds Percentage" means, with respect to the July 2008
            Transfer Date and each Transfer Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Available Funds Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three.

             

             

            
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            "Record Date" means, for any 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.

            

            "Required Accumulation Reserve sub-Account Amount" means, with respect to any Monthly Period during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the
            Outstanding Dollar Principal Amount of the Class C(2008-4) Notes as of the close of business on the last day of the preceding Monthly Period or (ii) any other amount designated by the Issuer; provided, however, that if such designation is of a lesser amount, the
            Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not occur with respect to such change.

            

            "Reuters Screen LIBOR01 Page" means the display page currently so designated on the Reuters Monitor Money Rates (or such other page as may replace that page on that service, or such other
            service as may be nominated as the information vendor, for the purpose of displaying comparable rates or prices).

            

            "Servicer Interchange Rate" means, for any Monthly Period, the percentage equivalent of a fraction, the numerator of which is the BAseries Servicer Interchange for such Monthly Period, and
            the denominator of which is the Weighted Average Available Funds Allocation Amount for the BAseries for such Monthly Period.

            

            "Stated Principal Amount" means $250,000,000.

            

            "Weighted Average Interest Rates" means, with respect to any Outstanding Notes of a class or tranche of the BAseries, or of all of the Outstanding Notes of the BAseries, on any date, the
            weighted average (weighted based on the Outstanding Dollar Principal Amount of the related Notes on such date) of the following rates of interest:

            

            (a)       in the case of a tranche of Dollar Interest-bearing Notes with no Derivative Agreement for interest, the rate of interest applicable to that tranche on that date;

            (b)       in the case of a tranche of Discount Notes, the rate of accretion (converted to an accrual rate) of that tranche on that date;

            (c)       in the case of a tranche of Notes with a payment due under a Performing Derivative Agreement for interest, the rate at which payments by the Issuer to the applicable Derivative Counterparty accrue on that
            date (prior to the netting of such payments, if applicable); and

            (d)       in the case of a tranche of Notes with a non-Performing Derivative Agreement for interest, the rate specified for that date in the related terms document.

            Section 1.02. Governing Law; Submission to Jurisdiction; Agent for Service of Process.  This Terms
            Document shall be governed by and construed in accordance with the laws

            
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            of the State of Delaware, without regard to principles of conflict of laws. The parties hereto declare that it is their intention that this Terms Document shall be regarded as made under the laws of the State of Delaware and that the laws of said State shall be applied in interpreting its provisions
            in all cases where legal interpretation shall be required. Each of the parties hereto agrees (a) that this Terms Document involves at least $100,000.00, and (b) that this Terms Document has been entered into by the parties hereto in express reliance upon 6 DEL. C. § 2708. Each of the parties hereto hereby irrevocably and unconditionally agrees (a) to be subject to the
            jurisdiction of the courts of the State of Delaware and of the federal courts sitting in the State of Delaware, and (b)(1) to the extent such party is not otherwise subject to service of process in the State of Delaware, to appoint and maintain an agent in the State of Delaware as such party's agent for acceptance of legal process, and (2) that, to the fullest extent permitted by applicable law, service of process may also be made on such party by prepaid certified mail with a proof
            of mailing receipt validated by the United States Postal Service constituting evidence of valid service, and that service made pursuant to (b)(1) or (2) above shall, to the fullest extent permitted by applicable law, have the same legal force and effect as if served upon such party personally within the State of Delaware.

            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 and the Indenture Supplement is in all respects ratified and confirmed and the
            Indenture as so supplemented by the Indenture Supplement as so supplemented and 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 C(2008-4) Notes

            
                 
            

            Section 2.01. Creation and Designation.  There is hereby created a tranche of BAseries Class C Notes to be issued pursuant to the Indenture and the Indenture Supplement to be known as the "BAseries Class
            C(2008-4) Notes."

            Section 2.02. Interest Payment.

            (a)       For each Interest Payment Date, the amount of interest due with respect to the Class C(2008-4) 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 C(2008-4) Notes determined as of
            the Record Date preceding the related Transfer Date. Interest on the Class C(2008-4) Notes will be calculated on the basis of the actual number of days in the related Interest Period and a 360-day year.

            (b)       Pursuant to Section 3.03 of the Indenture Supplement, on each Transfer Date, the Indenture
            Trustee shall deposit into the Class C(2008-4) Interest Funding sub-Account the portion of BAseries Available Funds allocable to the Class C(2008-4) Notes.

            Section 2.03. Calculation Agent; Determination of LIBOR.

            (a)       The Issuer hereby agrees that for so long as any Class C(2008-4) Notes are Outstanding, there shall at all times be an agent appointed to calculate LIBOR for each Interest Period (the
            "Calculation Agent"). The Issuer hereby initially appoints the Indenture Trustee as the Calculation Agent for purposes of determining LIBOR for each Interest Period. The Calculation Agent may be removed by the Issuer at any time. If the Calculation Agent is unable or unwilling to act as such or is removed by the Issuer, or if the Calculation Agent fails to determine LIBOR
            for an Interest Period, the Issuer shall promptly appoint a replacement Calculation Agent that does not control or is not controlled by or under common control with the Issuer or its Affiliates. The Calculation Agent may not resign its duties, and the Issuer may not remove the Calculation Agent, without a successor having been duly appointed.

            (b)       On each LIBOR Determination Date, the Calculation Agent shall determine LIBOR on the basis of the rate for deposits in United States dollars for a one-month period which appears on Reuters Screen LIBOR01
            Page as of 11:00 a.m., London time, on such date (or, for the first Interest Period, the rate that corresponds to the actual number of days in the first Interest Period). If such rate does not appear on Reuters Screen LIBOR01 Page, 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

            
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            quotations are provided as requested, the rate for that LIBOR Determination Date will be the arithmetic mean of the rates quoted by four 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 (212) 815-3247 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, the Beneficiary and the Servicer, by facsimile transmission, notification of LIBOR for the following Interest
            Period.

            Section 2.04. Payments of Interest and Principal.

            (a)       Any installment of interest or principal, if any, payable on any

            Class C(2008-4) Note which is punctually paid or duly provided for by the Issuer and the Indenture Trustee on the applicable Interest Payment Date or Principal Payment Date shall be paid by the Paying Agent to the Person in whose name such Class C(2008-4) 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 C(2008-4) Noteholders to receive payments from the Issuer will terminate on the first Business Day following the Class C(2008-4) Termination Date.

            Section 2.05. Targeted Deposit to the Class C Reserve Account.

            (a)       The deposit targeted to be made to the Class C Reserve sub-Account for the Class C(2008-4) Notes for any Transfer Date will be an amount equal to (i) the product of (A) the Class C Reserve Account Percentage
            for that Transfer Date times (B) the sum of the Initial Outstanding Dollar Principal Amounts of each tranche of Outstanding BAseries Notes as of the last day of the preceding Monthly Period times (C) a fraction, the numerator of which is the Nominal Liquidation Amount of the Class C(2008-4) Notes as of the close of business on the last day of the preceding Monthly Period and the denominator of which is the Nominal Liquidation Amount of all Class C Notes in the BAseries as of the
            close of business on the last day of the preceding Monthly Period, minus (ii) the amount credited to the Class C Reserve sub-Account for the Class C(2008-4) Notes immediately prior to such targeted deposit; provided however, that if an Early Redemption Event or Event of Default occurs with respect to the Class

            

            

            
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            C(2008-4) Notes, the deposit targeted will be the Adjusted Outstanding Dollar Principal Amount of the Class C(2008-4) Notes minus the amount then credited to such sub-Account.

            Section 2.06. Form of Delivery of Class C(2008-4) Notes; Depository; Denominations.

            (a)       The Class C(2008-4) Notes shall be delivered in the form of a global Registered Note as provided in Sections 202
            and 301(i) of the Indenture, respectively.

            (b)       The Depository for the Class C(2008-4) Notes shall be The Depository Trust Company, and the Class C(2008-4) Notes shall initially be registered in the name of Cede & Co., its nominee.

            (c)       The Class C(2008-4) Notes will be issued in minimum denominations of $5,000 and multiples of $1,000 in excess of that amount.

            Section 2.07. Delivery and Payment for the Class C(2008-4) Notes. The Issuer shall execute and deliver the
            Class C(2008-4) Notes to the Indenture Trustee for authentication, and the Indenture Trustee shall deliver the Class C(2008-4) Notes when authenticated, each in accordance with Section 303 of the Indenture.

            Section 2.08. Targeted Deposits to the Accumulation Reserve Account. The deposit targeted to be made to the Accumulation Reserve Account for any Monthly Period during the Accumulation Reserve Funding Period will
            be an amount equal to the Required Accumulation Reserve sub-Account Amount.

            Section 2.09. Modification of Section 3.10(b) of the Indenture Supplement. Solely with respect to the Class C(2008-4) Notes, Section 3.10(b) of the Indenture Supplement is modified to read as
            follows:

            (a) Wherever the word "twelfth" appears in Section 3.10(b)(i) of the Indenture Supplement, it shall be replaced with the word "eleventh".

            (b) Wherever the word "twelve (12)" appears in Section 3.10(b)(ii) of the Indenture Supplement, it shall be replaced with the word "eleven (11)".

            

            [END OF ARTICLE II]

             

            
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            ARTICLE III

            

            Representations and Warranties

            
                 
            

            Section 3.01. Issuer's Representations and Warranties.  The Issuer makes the following representations
            and warranties as to the Collateral Certificate on which the Indenture Trustee is deemed to have relied in acquiring the Collateral Certificate. Such representations and warranties speak as of the execution and delivery of this Terms Document, but shall survive until the termination of this Terms Document. Such representations and warranties shall not be waived by any of the parties to this Terms Document unless the Issuer has obtained written confirmation from each Note Rating
            Agency that there will be no Ratings Effect with respect to such waiver.

            (a)       The Indenture creates a valid and continuing security interest (as defined in the Delaware UCC) in the Collateral Certificate in favor of the Indenture Trustee, which security interest is prior to all other
            liens, and is enforceable as such as against creditors of and purchasers from the Issuer.

            (b)      The Collateral Certificate constitutes either an "account," a "general intangible," an "instrument," or a "certificated security," each within the meaning of the Delaware UCC.

            (c)      At the time of the transfer and assignment of the Collateral Certificate to the Indenture Trustee pursuant to the Indenture, the Issuer owned and had good and marketable title to the Collateral Certificate free
            and clear of any lien, claim or encumbrance of any Person.

            (d)     The Issuer has caused, within ten days of the execution of the Indenture, the filing of all appropriate financing statements in the proper filing office in the appropriate jurisdictions under applicable law in order to
            perfect the security interest in the Collateral Certificate granted to the Indenture Trustee pursuant to the Indenture.

            (e)     Other than the security interest granted to the Indenture Trustee pursuant to the Indenture, the Issuer has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed the Collateral Certificate.
            The Issuer has not authorized the filing of and is not aware of any financing statements against the Issuer that include a description of collateral covering the Collateral Certificate other than any financing statement relating to the security interest granted to the Indenture Trustee pursuant to the Indenture or any financing statement that has been terminated. The Issuer is not aware of any judgment or tax lien filings against the Issuer.

            (f)       All original executed copies of the Collateral Certificate have been delivered to the Indenture Trustee.

            (g)     At the time of the transfer and assignment of the Collateral Certificate to the Indenture Trustee pursuant to the Indenture, the Collateral Certificate had no marks or

            
                10
            

            
                

            

             

            notations indicating that it has been pledged, assigned or otherwise conveyed to any Person other than the Indenture Trustee.

            [END OF ARTICLE III]

             

            
                11
            

            
                

            

             

             

                                    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.

            

            BA CREDIT CARD TRUST,

            by BA CREDIT CARD FUNDING, LLC,

            as Beneficiary and not in its individual capacity

            

            By:     /s/ Keith W. Landis                            

                  Name: Keith W. Landis

                  Title: Vice President

                 

            

            THE BANK OF NEW YORK MELLON, as Indenture Trustee

            and not in its individual capacity

            

            By:      /s/ Catherine Cerilles                          

                  Name: Catherine Cerilles

                  Title: Vice President

             

            

            [Signature Page to the Class C(2008-4) Terms Document]

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