Document:

Blueprint

 

Exhibit 10.1   

 

Separation Agreement and Release

 

This Separation Agreement and Release (the “Separation Agreement”) is made by and between Brian King (“Executive”) and root9B Technologies, Inc. (the “Company”) (collectively,
referred to as the “Parties” or individually referred to as a “Party”).

WHEREAS, in connection with Executive’s termination of employment as Chief Operating Officer with the Company effective September 1, 2016 (the “Effective Date”), the Parties wish to resolve any and all disputes, claims, complaints, grievances, charges, actions and demands that Executive
may have against the Company and any of the Releasees (as defined below), including, but not limited to, any and all claims arising out of or in any way related to Executive’s employment with or separation from the Company or its affiliates.

NOW, THEREFORE, in consideration of the severance payments described in this Separation Agreement and the other promises made herein, the Parties hereby agree as follows:

1. Severance Payments; Salary and Benefits. In consideration of executing and not revoking this Separation Agreement, the Company shall pay to Executive $26,666.67 monthly for 24 months, beginning
as of the Effective Date and payable in accordance with the Company’s usual payroll practices, less applicable deductions and withholdings. In further consideration and provided the Executive elects to continue his participation in Company’s group health plan, the Company shall pay 100% of the cost of health coverage for Executive and his dependents for up to 24 months, beginning September, 2016 and provided such payment or continuation of coverage does not violate applicable law and is permitted
under Company’s group health plan. In addition, Executive shall be entitled to a payment of $16,000, less applicable withholding, representing unused vacation for the 2015 fiscal year, with such amount payable upon the execution of this Separation Agreement, and shall further be entitled to a payment, less applicable withholding, for all unused vacation for the 2016 fiscal year, with such amount being paid as soon as practicable but in no event later than October 1, 2016.

2.           Options to Remain Available for Exercise. Executive’s existing options shall remain in full force and effect, and shall continue to vest in accordance with the existing vesting schedule, until the second anniversary of the Effective
Date, at which time any unvested options shall be forfeited and any vested options not previously exercised shall expire as of the close of business on November 30, 2018.

3.           Consulting Services. For a period of 24 months following the Effective Date, Executive shall continue to be available to the Chief Executive Officer of the Company, on an as needed basis, and agrees, without further consideration, to undertakes
to work with the Company to effect a smooth and professional transition of all of his duties and obligations in connection with his offices including without limitation, participating in any meetings as may be required by the Company for assistance with the transition.

4.           Release of Claims. Executive agrees that the foregoing consideration represents settlement in full of all outstanding obligations owed to Executive by the Company, its parent and any of its direct or indirect affiliates, and any of their
respective current and former officers, directors, employees, agents, investors, attorneys, shareholders, administrators, affiliates, benefit plans, plan administrators, insurers, trustees, divisions, and predecessor and successor corporations and assigns (collectively, the “Releasees”). Executive, on his own behalf and on behalf of his heirs, executors, administrators, agents and assigns, hereby and forever releases the Releasees from, and agrees not
to sue concerning, or in any manner to institute, prosecute, or pursue, any claim, complaint, charge, duty, obligation, or cause of action relating to any matters of any kind, whether presently known or unknown, suspected or unsuspected, that Executive may possess against any of the Releasees arising from any omissions, acts, facts, or damages that have occurred up until and including the Effective Date of this Agreement directly arising out of Executive’s employment with the Company, including, without
limitation:

 

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(i)           any and all claims relating to or arising from Executive’s employment or service relationship with the Company or any of its affiliates and the termination of that relationship;

(ii)           any and all claims for wrongful discharge of employment; termination in violation of public policy; discrimination; harassment; retaliation; breach of contract, both express and implied; breach of covenant of good faith and fair dealing, both express and implied; promissory estoppel;
negligent or intentional infliction of emotional distress; fraud; negligent or intentional misrepresentation; negligent or intentional interference with contract or prospective economic advantage; unfair business practices; defamation; libel; slander; negligence; personal injury; assault; battery; invasion of privacy; false imprisonment; conversion; and disability benefits;

(iii)           any and all claims for violation of any federal, state, or municipal statute or ordinance including, but not limited to, Title VII of the Civil Rights Act of 1964; the Civil Rights Act of 1991; the Rehabilitation Act of 1973; the Americans with Disabilities Act of 1990; the Equal
Pay Act; the Fair Credit Reporting Act; the Age Discrimination in Employment Act of 1967; the Older Workers Benefit Protection Act; the Genetic Information Nondiscrimination Act; the Employee Retirement Income Security Act of 1974; the Worker Adjustment and Retraining Notification Act; the Family and Medical Leave Act; the Sarbanes-Oxley Act of 2002; the New York Human Rights Law, N.Y. Exec. L. § 290 et seq., N.Y.C. Admin. C. Art. 8, and any other federal, state or local statute, regulation, ordinance or
common law, and all claims related to or arising out of your employment or the termination of your employment with the Company;

(iv)           any and all claims for violation of the Federal or any state constitution;

(v)           any and all claims arising out of any other laws and regulations relating to employment or employment discrimination;

(vi)           any claim for any loss, cost, damage, or expense arising out of any dispute over the tax treatment of any of the proceeds received by Executive as a result of this Agreement; and

(vi)           any and all claims for attorneys’ fees and costs.

 

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5.           Acknowledgment of Waiver of Claims under ADEA. Executive understands that he is waiving and releasing any rights he may have under the Age Discrimination
in Employment Act of 1967 (“ADEA”). Executive understands that this waiver and release does not apply to any claims that may arise under the ADEA after the Effective Date of this Separation Agreement. Executive understands and acknowledges that the consideration given for this waiver and release is in addition to anything of value to which he was already entitled. Executive further acknowledges
that he has been advised that: (a) he should consult with an attorney prior to executing this Separation Agreement; (b) he has 21 days after receiving this Separation Agreement to decide whether to sign it; (c) he will have seven (7) days following his execution of this Separation Agreement to revoke his signature by delivering a written notice of revocation to the Secretary of the Company; (d) this Separation Agreement shall not be effective until the expiration of the 7-day revocation period; and (e) nothing
in this Separation Agreement shall prevent or preclude Executive from challenging or seeking a determination in good faith of the validity of this waiver under the ADEA or impose any condition precedent, penalties, or costs for doing so, unless specifically authorized by Federal law. In the event that Executive signs this Separation Agreement and returns it to the Company in less than the 21 days after he receives it, Executive hereby acknowledges that he has voluntarily waived the remaining time period allotted
for considering this Separation Agreement.

6.           Non-Disparagement. Executive shall not Disparage, as defined below, the Company or any of its affiliates, or any of their respective services, technologies or practices, directors, officers or shareholder, either orally or in writing,
and none of the Company nor its affiliates shall, nor shall the Company’s then current officers or Board members disparage Executive orally or in writing. Nothing in this paragraph shall preclude any party from making truthful statements that are reasonably necessary to comply with applicable law or legal process, or to defend or enforce a party’s rights under this Agreement. For purposes of this Agreement, “Disparage” means to take an action or make a written or oral statement that impugns
another’s character, integrity, reputation or abilities.

7.           Non Compete and Non Solicitation. As of the Effective Date, and for a period of three years thereafter, Executive shall not, directly or indirectly: (i) solicit, endeavor to entice away from the Company or otherwise interfere with the
relationship of the Company with any person or organization who is, or was within the preceding two years of the Effective Date, a customer of the Company, engaged with the Company, or who is employed by the Company; or (ii) own an interest in, manage, operate, join, control, or participate in or be connected with, as an officer, employee, partner, stockholder, consultant or otherwise, any project, at such time, directly competes with the Company, its business or its products anywhere in the world; provided that
this shall not preclude Executive from owning a stock interest not greater than 5% in a publicly traded company.

 

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8.           Confidentiality.

(i)           Executive agrees to keep strictly confidential, not to make public and not to disclose to anyone in any manner the fact or terms of this Separation Agreement; provided, however, that Executive may disclose this Separation Agreement to his spouse, to his attorneys, tax preparers, accountants
or other professional advisers, to state and federal tax authorities, and as may be necessary to enforce this Separation Agreement, or upon court order.

(ii)           Executive covenants and agrees not to disclose or use the Confidential Information from and after the Effective Date. “Confidential Information” refers to information treated by the Company, and its subsidiaries, as confidential and proprietary that is not known by others
and gives the Company a competitive advantage over other companies that do not have access to such information, whether conveyed orally or reduced to a tangible form in any medium, including information concerning the trade secrets, data, know-how, processes, techniques, operations, future plans, customers, business models, strategies, business methods and other proprietary information, as well as information about the employees, customers, clients, investors and business partners of the Company. “Confidential
Information” does not and will not include information that (a) is or becomes publicly available other than as a result of a disclosure by Executive or his representatives, (b) is or becomes available to Executive on a non-confidential basis from a source which is not prohibited from disclosing such information under a legal, contractual or fiduciary obligation to the Company or its subsidiaries, (c) is approved for release by written authorization of the Company (d) is disclosed to one or more third parties
by the Company or its subsidiaries without restriction, or (e) is independently developed by Executive without reference to or use of any Confidential Information.

(iii)           Notwithstanding anything to the contrary in this Separation Agreement, Executive has the right to disclose in confidence trade secrets to federal, state, and local government officials, or to an attorney, for the sole purpose of reporting or investigating a suspected violation of law. The Executive also
has the right to disclose trade secrets in a document filed in a lawsuit or other proceeding, but only if the filing is made under seal and protected from public disclosure and the undersigned does not disclose the trade secret absent a court order allowing such disclosure. Nothing herein is intended to conflict with 18 U.S.C. § 1833(b) or create liability for disclosures of trade secrets that are expressly allowed by 18 U.S.C. § 1833(b). Disclosure pursuant to 18 U.S.C. 1833(b) shall not be deemed
to alter the status of any information as a trade secret.

 

(iv)           Notwithstanding anything to the contrary, nothing in this Separation Agreement shall preclude or interfere with Executive’s participation in any investigations or proceedings by, or filing of any charge with, the United States Equal Employment Opportunity Commission (“EEOC”) with respect
to a violation of the civil rights laws administrated by the EEOC or filing any charge with any state or local agency with respect to a violation of the civil rights law administered by such agencies; provided, however, that Executive acknowledges and agrees that he hereby waives any and all rights he may have to recovery (whether monetary or otherwise) in connection with any such charge or for any of the claims released herein.

 

 

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9.           Severability. In the event that any provision or any portion of any provision hereof or any surviving agreement made a part hereof becomes or is declared by a court of competent jurisdiction or arbitrator to be illegal, unenforceable,
or void, this Separation Agreement shall continue in full force and effect without said provision or portion of provision.

10.           No Oral Modification. This Separation Agreement may only be amended in a writing signed by Executive and a duly authorized officer of the Company.

11.           Governing Law; Dispute Resolution. This Separation Agreement shall be governed by and construed in accordance with the laws of the state of New York, without giving effect to conflict of law principles. The parties agree that any claims
related to or arising under this Separation Agreement shall be brought exclusively in any court of competent jurisdiction located in New York, New York, and Executive hereby consents to the jurisdiction of any such court with respect to any such matters.

12.           Voluntary Execution of Agreement. Executive agrees that he has executed this Separation Agreement voluntarily, without any duress or undue influence on the part or behalf of the Company or any third party, with the full intent of releasing
all of his claims against the Releasees. Executive acknowledges that: (a) he has read this Agreement; (b) he has not relied upon any representations or statements made by the Company that are not specifically set forth in this Agreement; (c) he has been represented in the preparation, negotiation, and execution of this Agreement by legal counsel of his own choice or has elected not to retain legal counsel; (d) he understands the terms and consequences of this Agreement.

13.           Right to Counsel; Time for Signing; Revocation. Executive has the right to and should consult with an attorney prior to signing this Separation Agreement. Executive acknowledges that he has received this Separation Agreement on September
1, 2016 and that Executive shall have twenty one (21) days from receipt of this Separation Agreement to decide whether to sign it. Executive agrees that any modifications made to this Separation Agreement, whether deemed to be material or immaterial, will not start another 21-day consideration period. Executive will have seven (7) days after signing this Separation Agreement to revoke his signature. If Executive intend to revoke his signature, he must do so in writing addressed and delivered to the Company prior
to the end of the 7-day revocation period. This Separation Agreement shall not become effective, and neither the Company nor Executive shall have any rights or obligations hereunder, until the expiration of the 7-day revocation period.

14.           Compliance with Internal Revenue Code Section 409A. It is the intention of the parties that no payment or entitlement pursuant to this Separation Agreement will give rise to any adverse tax consequences to Executive under Internal Revenue
Code Section 409A and this Separation Agreement shall be interpreted, applied and, to the minimum extent necessary, amended to achieve that intention. Any termination of Executive that would result in the receipt of deferred compensation under Internal Revenue Code Section 409A must also constitute a “separation from service” (as that term is defined in Treasury Regulation Section 1.409A-1) and the determination of whether Executive has incurred a “separation from service” shall not cause
any forfeiture of deferred compensation subject to Section 409A but shall only act, if applicable, as a delay in the receipt of deferred compensation until such time as the Executive incurs a “separation from service.” Each payment made under this Agreement shall be treated as a separate payment, and the right to a series of installment payments under this Agreement shall be treated as a right to a series of separate payments. In the case of any payment on termination (other than in compliance with
the requirements of Treasury Regulation Section 1.409A-1(b)(9)(iii) or (v) or of any successor thereto or any other provision that exempts a payment from Section 409A of the Internal Revenue Code and other than any payment that is a “short-term deferral” within the meaning of Treasury Regulation Section 1.409A-1(b)(4)(i)) while Executive is a specified employee within the meaning of Internal Revenue Code Section 409A(a)(2)(B)(i), in no event will such payment be made earlier than six months after
the Executive’s “separation from service” within the meaning of Treasury Regulation Section 1.409A-1(h). In the event that, due to Internal Revenue Code Section 409A, Executive does not receive one or more cash payments that would otherwise be due during that six month period, all such delayed payments will be made on the first day after the six-month anniversary of his “separation from service” within the meaning of Treasury Regulation Section 1.409A-1(h), and thereafter any remaining
payments shall be made in accordance with any existing schedule.

[Signature Page Follows]

 

 

 

 

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IN WITNESS WHEREOF, the Parties have executed this Agreement on the respective dates set forth below.

	
Dated: September 6, 2016
	
root9B Technologies, Inc.

 

 

 

By: /s/ Joseph J. Grano, Jr.

Name:  Joseph J. Grano, Jr.

Title: Chief Executive Officer

 

	
 
	
 

	
 
	
 

	
 

 

 

Dated: September 6, 2016
	
 

 

 

/s/ Brian King

Brian King

 

 

 

 6EX-10.1

 Exhibit 10.1 

ASSIGNMENT NO. 2 OF RECEIVABLES IN ADDITIONAL ACCOUNTS, dated as of September 6, 2016, by and between CHASE BANK USA,
NATIONAL ASSOCIATION, a national banking association (the “Bank”), and CHASE CARD FUNDING LLC (“Chase Card Funding”), pursuant to the Agreement referred to below. 

W I T N E S S E T H: 

WHEREAS, Chase USA and Chase Card Funding are parties to the Receivables Purchase Agreement, dated as of January 20, 2016
(hereinafter as such agreement may have been, or may from time to time be, amended, supplemented or otherwise modified, the “Agreement”); 

WHEREAS, pursuant to the Agreement, Chase USA wishes to designate Additional Accounts to be included as Accounts and to convey
hereby the Receivables of such Additional Accounts (as each such term is defined in the Agreement), whether now existing or hereafter created, to Chase Card Funding; and 

WHEREAS, Chase Card Funding is willing to accept such designation and conveyance subject to the terms and conditions hereof;

 NOW, THEREFORE, Chase USA and Chase Card Funding, hereby agree as follows: 

1.        Defined Terms. All capitalized terms used herein shall have the
meanings ascribed to them in the Agreement unless otherwise defined herein or, if not defined therein, in the Indenture (as defined in the Agreement). 

“Addition Cut-Off Date” shall mean, with respect to the Additional Accounts designated hereby, July 31,
2016. 
 “Addition Date” shall mean, with respect to the Additional Accounts designated on Schedule
1 hereto, September 6, 2016. 
 “Notice Date” shall mean, with respect to the Additional Accounts
designated on Schedule 1 hereto, August 29, 2016 which shall be a date on or prior to the third (3rd) Business Day prior to the Addition Date with respect to additions pursuant to
subsection 2.10(a) of the Agreement and the fifth (5th) Business Day prior to the Addition Date with respect to additions pursuant to subsection 2.10(b) of the Agreement. 

2.        Designation of Additional Accounts. No later than five
(5) Business Days after the Addition Date, Chase USA shall deliver to Chase Card Funding, or shall maintain on behalf of Chase Card Funding, an accurate list (in the form of a computer file, microfiche list, CD-ROM or such other form as is
agreed upon between Chase USA and Chase Card Funding) of each VISA® and
MasterCard®1 account which, as of the Addition Date, shall be deemed to be an 

 
  

	1 	 VISA® and MasterCard® are registered trademarks of VISA U.S.A., Inc., and of MasterCard International Inc., respectively. 

  

 Additional Account, identified by account reference number and the aggregate amount of the Receivables in each
such Additional Account as of the Addition Cut-Off Date, which list shall be marked as Schedule 1 to this Assignment and, as of the Addition Date, shall modify and amend and be incorporated into and made part of the Agreement and shall
supplement Schedule 2 to the Agreement. 
 3.          Conveyance of
Receivables. 
 (a)        Chase USA does hereby sell, transfer and assign to
Chase Card Funding all right, title and interest, whether owned on the Addition Cut-Off Date or thereafter acquired, of Chase USA in and to the Receivables existing on the Addition Cut-Off Date or thereafter created in the Additional Accounts, all
Interchange and Recoveries related thereto, all monies due or to become due and all amounts received or receivable with respect thereto and all proceeds (including “proceeds” as defined in the applicable UCC) thereof. This subsection 3(a)
does not constitute and is not intended to result in the creation or assumption by Chase Card Funding of any obligation of Chase USA or any other Person in connection with the Accounts or the Receivables or under any agreement or instrument relating
thereto, including any obligation to Obligors, merchant banks, merchants clearance systems, VISA®, MasterCard® or insurers. 

(b)        Chase USA hereby grants to Chase Card Funding a security interest in all
of its right, title and interest, whether owned on the Addition Cut-Off Date or thereafter acquired, of Chase USA in and to the Receivables existing on the Addition Cut-Off Date or thereafter created in the Additional Accounts, all Interchange and
Recoveries related thereto and all monies due or to become due and all amounts received or receivable with respect thereto and the “proceeds” (including “proceeds” as defined in the applicable UCC) thereof to secure a loan in an
amount equal to the unpaid principal amount of the Notes issued pursuant to the Indenture, the Asset Pool One Supplement and the applicable Indenture Supplement and accrued and unpaid interest with respect thereto. This Assignment constitutes a
security agreement under the UCC. 
 (c)        If necessary, Chase USA agrees to
record and file, at its own expense, financing statements (and continuation statements when applicable) with respect to the Receivables in Additional Accounts existing on the Addition Cut-Off Date and thereafter created meeting the requirements of
applicable state law in such manner and in such jurisdictions as are necessary to perfect, and maintain perfection of, the sale and assignment of its interest in such Receivables to Chase Card Funding, and to deliver a file-stamped copy of each such
financing statement or other evidence of such filing to Chase Card Funding on or prior to the Addition Date. Chase Card Funding shall be under no obligation whatsoever to file such financing or continuation statements or to make any other filing
under the UCC in connection with such sale and assignment. 
 (d)        In
connection with such transfers, Chase USA further agrees, at its own expense, on or prior to the date of this Assignment, to indicate in the appropriate computer files that Receivables created in connection with the Additional Accounts and
designated hereby have been conveyed to Chase Card Funding pursuant to this Assignment. 

  
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 (e)        The parties hereto agree that
all transfers of Receivables to Chase Card Funding pursuant to this Assignment are subject to, and shall be treated in accordance with, the Delaware Act and each of the parties hereto agrees that this Assignment has been entered into by the parties
hereto in express reliance upon the Delaware Act. For purposes of complying with the requirements of the Delaware Act, each of the parties hereto hereby agrees that any property, assets or rights purported to be transferred, in whole or in part, by
Chase USA pursuant to this Assignment shall be deemed to no longer be the property, assets or rights of Chase USA. The parties hereto acknowledge and agree that each such transfer is occurring in connection with a “securitization
transaction” within the meaning of the Delaware Act. 
 4.     
    Representations and Warranties of Chase USA. 

(a)        Legal, Valid and Binding Obligation. This Assignment constitutes a
legal, valid and binding obligation of Chase USA enforceable against Chase USA in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws now or
hereafter in effect affecting the enforcement of creditors’ rights in general and except as such enforceability may be limited by general principles of equity (whether considered in a suit at law or in equity); 

(b)        Eligibility of Accounts. As of the Addition Cut-Off Date, each
Additional Account designated hereby was an Eligible Account; 

(c)        Insolvency. As of each of the Addition Cut-Off Date and the
Addition Date, no Insolvency Event with respect to Chase USA has occurred and the transfer by Chase USA of Receivables arising in the Additional Accounts to Chase Card Funding has not been made in contemplation of the occurrence thereof; 

(d)        No Adverse Effect. The acquisition by Chase Card Funding of the
Receivables arising in the Additional Accounts shall not, in the reasonable belief of Chase USA, result in an Adverse Effect; 

(e)        Security Interest. This Assignment constitutes a valid sale,
transfer and assignment to Chase Card Funding of all right, title and interest, whether owned on the Addition Cut-Off Date or thereafter acquired, of Chase USA in and to the Receivables existing on the Addition Cut-Off Date or thereafter created in
the Additional Accounts, all Interchange and Recoveries related thereto, all monies due or to become due and all amounts received or receivable with respect thereto and the “proceeds” (including “proceeds” as defined in the
applicable UCC) thereof, or, if this Assignment does not constitute a sale of such property, the Agreement as amended by this Assignment constitutes a grant of a “security interest” (as defined in the applicable UCC) in such property to
Chase Card Funding, which, in the case of existing Receivables and the proceeds thereof, is enforceable upon execution and delivery of this Assignment, and which will be enforceable with respect to such Receivables hereafter created and the proceeds
thereof upon such creation. Upon the filing of the financing statements described in Section 3 of this Assignment and, in the case of the Receivables hereafter created and the proceeds thereof, upon the creation thereof, Chase Card Funding
shall have a first priority perfected security or ownership interest in such property; 

  
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 (f)        No Conflict. The
execution and delivery by Chase USA of this Assignment, the performance of the transactions contemplated by this Assignment and the fulfillment of the terms hereof applicable to Chase USA, will not conflict with or violate any Requirements of Law
applicable to Chase USA or conflict with, result in any breach of any of the material terms and provisions of, or constitute (with or without notice or lapse of time or both) a material default under, any indenture, contract, agreement, mortgage,
deed of trust or other instrument to which Chase USA is a party or by which it or its properties are bound; 

(g)        No Proceedings. There are no proceedings or investigations, pending
or, to the best knowledge of Chase USA, threatened against Chase USA before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality (i) asserting the invalidity of this Assignment, (ii) seeking
to prevent the consummation of any of the transactions contemplated by this Assignment, (iii) seeking any determination or ruling that, in the reasonable judgment of Chase USA, would materially and adversely affect the performance by Chase USA
of its obligations under this Assignment or (iv) seeking any determination or ruling that would materially and adversely affect the validity or enforceability of this Assignment; and 

(h)        All Consents. All authorizations, consents, orders or approvals of
any court or other governmental authority required to be obtained by Chase USA in connection with the execution and delivery of this Assignment by Chase USA and the performance of the transactions contemplated by this Assignment by Chase USA, have
been obtained. 
 5.         Conditions Precedent. The designation of
Additional Accounts pursuant to Section 2 of this Assignment, the conveyance of Receivables pursuant to Section 3 of this Assignment and the amendment of the Agreement pursuant to Section 6 hereof are each subject to the satisfaction
of the conditions precedent set forth in subsection 2.10(c) of the Agreement on or prior to the dates specified in such subsection 2.10(c), except to the extent any such conditions have been waived. For purposes of subsection 2.10(c)(i) of the
Agreement, “Notice Date” shall having the meaning specified in Section 1 hereof. With respect to the condition specified in subsection 2.10(c)(ix) of the Agreement, Chase USA shall have delivered to Chase Card Funding, on or
prior to the date hereof, a certificate of a Vice President or more senior officer substantially in the form of Schedule 2 hereto, certifying that (a) all requirements set forth in subsection 2.10(c) of the Agreement for designating and
conveying Receivables in Additional Accounts have been satisfied or waived and (b) each of the representations and warranties made by Chase USA in Section 4 of this Assignment is accurate as of the Addition Date. Chase Card Funding may
conclusively rely on such Officer’s Certificate, shall have no duty to make inquiries with regard to the matters set forth therein, and shall incur no liability in so relying. 

6.         Amendment of the Receivables Purchase Agreement. The Agreement
is hereby amended to provide that all references therein to the “Receivables Purchase Agreement,” to “this Agreement” and to “herein” shall be deemed from and after the Addition Date to be a dual reference to the
Agreement as supplemented by this Assignment. All references therein to Additional Accounts shall be deemed to include the Additional Accounts designated hereby and all references therein to Receivables shall be deemed to include the Receivables
conveyed hereby. Except as expressly amended hereby, all of the representations, warranties, terms, covenants and conditions of the Agreement shall remain unamended and shall continue to be, and shall remain, in full force and effect in accordance
with its terms and except as expressly 

  
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provided herein shall not constitute or be deemed to constitute a waiver of compliance with or a consent to noncompliance with any term or provision of the Agreement. 

7.        Counterparts. This Assignment may be executed in two or more
counterparts, and by different parties on separate counterparts, each of which shall be an original, but all of which shall constitute one and the same instrument. 

8.        GOVERNING LAW. THIS ASSIGNMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH 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. 

9.        Removal Upon Breach. In the event of a breach of any of the
warranties set forth in Section 4 hereof other than a breach or event set forth in subsection 2.06(a) of the Agreement, if as a result of such breach the related Receivable is no longer an Eligible Receivable or Chase Card Funding’s rights
in, to or under such Receivable or its proceeds are impaired, then, upon the satisfaction of all terms and conditions set forth in Section 2.06 of the Agreement, such Receivable shall be removed from Chase Card Funding on the terms and
conditions set forth in subsection 2.06(b) of the Agreement and Chase USA shall accept reassignment of such Receivable; provided, however, that no such removal shall be required to be made if, on any day within such applicable period,
such representations and warranties with respect to such Receivable shall then be accurate in all material respects as if such Receivable had been designated for inclusion in Chase Card Funding on such day. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Assignment to be duly
executed by their respective officers as of the day and year first above written. 
  

									
		 		 	 CHASE BANK USA, NATIONAL

ASSOCIATION

				
		 		 	By:	 	      /s/ Todd S. Lehner                    
		 		 		 	Name: Todd S. Lehner
		 		 		 	Title:   Managing Director
			
		 		 	CHASE CARD FUNDING LLC
				
		 		 	By:	 	      /s/ Brent L. Barton                    
		 		 		 	Name: Brent L. Barton
		 		 		 	Title:   Chief Executive Officer

  
 Chase Issuance Trust 

Assignment No. 2 (RPA) 

 Schedule 1 

to Assignment No. 2 
 of
Receivables 
 List of Additional Accounts 

[Delivered to Chase Card Funding] 

 Schedule 2 

to Assignment No. 2 
 of
Receivables 
 Chase Bank USA, National Association 

Officer’s Certificate 

Todd S. Lehner, a duly authorized officer of Chase Bank USA, National Association (“Chase USA”), a national
banking association, hereby certifies and acknowledges on behalf of Chase USA that to the best of his knowledge the following statements are true on
                     (the “Addition Date”), and acknowledges on behalf of Chase USA that this Officer’s Certificate will
be relied upon by Chase Card Funding LLC (“Chase Card Funding”), in connection with Chase Card Funding entering into Assignment No.          of Receivables in Additional Accounts, dated
as of the Addition Date (the “Assignment”), by and between Chase USA and Chase Card Funding, in connection with the Receivables Purchase Agreement, dated as of January 20, 2016 (as heretofore supplemented and amended, the
“Receivables Purchase Agreement”), by and between Chase USA and Chase Card Funding. The undersigned hereby certifies and acknowledges on behalf of Chase USA that: 

(a)      Delivery of Assignment. On or prior to the Addition Date, (i) Chase USA
has delivered to Chase Card Funding the Assignment, and (ii) Chase USA has indicated in its computer files that the Receivables created in connection with the Additional Accounts have been transferred to Chase Card Funding. Chase USA shall
deliver to Chase Card Funding, or shall maintain on behalf of Chase Card Funding pursuant to Section 3.08 of the Receivables Purchase Agreement, an accurate list (in the form of a computer file, microfiche list, CD-ROM or such other form as is
agreed upon between Chase USA and Chase Card Funding) of the Additional Accounts, identified by account reference number and the aggregate amount of the Receivables in each Additional Account as of the Addition Cut-Off Date, which list shall, as of
the Addition Date, modify and amend and be incorporated into and made a part of the Assignment and the Receivables Purchase Agreement; 

(b)      Legal, Valid and Binding Obligation. The Assignment constitutes a legal, valid
and binding obligation of Chase USA enforceable against Chase USA in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws now or hereafter in
effect affecting the enforcement of creditors’ rights in general and except as such enforceability may be limited by general principles of equity (whether considered in a suit at law or in equity); 

(c)      Eligibility of Additional Accounts. As of the Addition Cut-Off Date, each
Additional Account designated thereby is an Eligible Account; 
 (d)      Insolvency.
As of each of the Addition Cut-Off Date and the Addition Date, no Insolvency Event with respect to Chase USA has occurred and the transfer by Chase USA of Receivables arising in the Additional Accounts to Chase Card Funding has not been made in
contemplation of the occurrence thereof; 

 (e)      No Adverse Effect. The acquisition
by Chase Card Funding of the Receivables arising in the Additional Accounts shall not, in the reasonable belief of Chase USA, result in an Adverse Effect; 

(f)      Conditions Precedent. All requirements set forth in subsection 2.10(c) of the
Receivables Purchase Agreement for designating and conveying Receivables arising in the Additional Accounts have been satisfied or waived; 

(g)      No Proceedings. There are no proceedings or investigations pending or, to the
best knowledge of Chase USA, threatened against Chase USA before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality (i) asserting the invalidity of the Assignment, (ii) seeking to prevent
the consummation of any of the transactions contemplated by the Assignment, (iii) seeking any determination or ruling that, in the reasonable judgment of Chase USA, would materially and adversely affect the performance by Chase USA of its
obligations under the Assignment or (iv) seeking any determination or ruling that would materially and adversely affect the validity or enforceability of the Assignment; and 

(h)      All Consents. All authorizations, consents, orders or approvals of any court or
other governmental authority required to be obtained by Chase USA in connection with the execution and delivery of the Assignment by Chase USA and the performance of the transactions contemplated by the Assignment by Chase USA, have been obtained.

 Initially capitalized terms used herein and not otherwise defined are used as defined in the Receivables Purchase
Agreement, or, if not defined therein, in the Indenture (as defined in the Receivables Purchase Agreement). 
 IN WITNESS
WHEREOF, I have hereunto set my hand this            day of
                            . 

 

					
	CHASE BANK USA,	 	
	NATIONAL ASSOCIATION	 	
			
	 By:
  
	 	  
  
	 	
		 	Name:	 	
		 	Title:

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