Document:

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                                                                     EXHIBIT 4.2

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                                                                  EXECUTION COPY

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                            SERIES 2000-2 SUPPLEMENT
                          Dated as of February 16, 2000

                                       to

                         POOLING AND SERVICING AGREEMENT
                            Dated as of May 16, 1996

                                  $500,000,000

                                ----------------

                  AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST

                                  Series 2000-2

                                ----------------

                                      among

                         AMERICAN EXPRESS CENTURION BANK
              AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION II
                                 as Transferors

             AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC.
                                   as Servicer

                                       And

                              THE BANK OF NEW YORK
                                   as Trustee
                on behalf of the Series 2000-2 Certificateholders

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                                TABLE OF CONTENTS

                                                                            Page

ARTICLE I..........................Creation of the Series 2000-2 Certificates  1
         Section 1.01.   .........................................Designation  1
ARTICLE II........................................................Definitions  2
         Section 2.01.   .........................................Definitions  2
ARTICLE III.....................................................Servicing Fee 15
         Section 3.01.   ..............................Servicing Compensation 15
ARTICLE IV...................Rights of Series 2000-2 Certificateholders and
                               Allocation and Application of Collections      16
         Section 4.01.   .........................Collections and Allocations 16
         Section 4.02.   ...................Determination of Monthly Interest 18
         Section 4.03.   ...Principal Funding Account; Controlled
                              Accumulation Period............................ 20
         Section 4.04.   .....................................Required Amount 22
         Section 4.05.   Application of Class A Available Funds, Class B
                           Available Funds, Collateral Available Funds and
                           Available Principal Collections................... 23
         Section 4.06.   .............Defaulted Amounts; Investor Charge-Offs 25
         Section 4.07.   ...Excess Spread; Excess Finance Charge Collections. 27
         Section 4.08.   .................Reallocated Principal Collections.. 28
         Section 4.09.   .................Excess Finance Charge Collections.. 29
         Section 4.10.   ...Reallocated Investor Finance Charge Collections.. 29
         Section 4.11.   ........................Shared Principal Collections 30
         Section 4.12.   ...................................Reserve Account.. 31
         Section 4.13.   ...........................Investment Instructions.. 32
         Section 4.14.   .............................Determination of LIBOR. 32
ARTICLE V......Distributions and Reports to Series 2000-2 Certificateholders. 33
         Section 5.01.   .....................................Distributions.. 33
         Section 5.02.   Reports and Statements to Series 2000-2
                           Certificateholders................................ 34
ARTICLE VI...................................................Pay-Out Events.. 35
         Section 6.01.   ....................................Pay-Out Events.. 35
ARTICLE VII.........................Optional Repurchase; Series Termination.. 36
         Section 7.01.   ...............................Optional Repurchase.. 36
         Section 7.02.   ................................Series Termination.. 37
ARTICLE VIII............................................Final Distributions.. 37
         Section 8.01.   Sale of Receivables or Certificateholders' Interest.
                           pursuant to Section 2.06 or 10.01 of the Agreement
                           and Section 7.01 or 7.02 of this Supplement....... 37
         Section 8.02.   Distribution of Proceeds of Sale, Disposition or
                           Liquidation of the Receivables pursuant to
                           Section 9.01 of the Agreement..................... 38
ARTICLE IX.........................................Miscellaneous Provisions.. 40
         Section 9.01.   .........................Ratification of Agreement.. 40
         Section 9.02.   ......................................Counterparts.. 40
         Section 9.03.   .....................................Governing Law.. 40

                                      -1-
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                  SERIES 2000-2 SUPPLEMENT, dated as of February 16, 2000 (the
                  "Supplement"), among AMERICAN EXPRESS CENTURION BANK, a
                  Utah-chartered industrial loan company, and AMERICAN EXPRESS
                  RECEIVABLES FINANCING CORPORATION II, a Delaware corporation,
                  as Transferors, AMERICAN EXPRESS TRAVEL RELATED SERVICES
                  COMPANY, INC., a New York corporation, as Servicer, and THE
                  BANK OF NEW YORK, a banking corporation organized and existing
                  under the laws of the State of New York, not in its individual
                  capacity, but solely as Trustee.

                  Pursuant to the Pooling and Servicing Agreement, dated as of
May 16, 1996 (as amended and supplemented, the "Agreement"), among the
Transferors, the Servicer and the Trustee, the Transferors have created the
AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST (the "Trust"). Section 6.03 of the
Agreement provides that the Transferors may from time to time direct the Trustee
to authenticate one or more new Series of Investor Certificates representing
fractional undivided interests in the Trust. The Principal Terms of any new
Series are to be set forth in a Supplement to the Agreement.

                  Pursuant to this Supplement, the Transferors and the Trustee
shall create a new Series of Investor Certificates and specify the Principal
Terms thereof.

                                   ARTICLE X

                  Creation of the Series 2000-2 Certificates

                  Section 10.01.   Designation.

                  (a) There is hereby created a Series of Investor Certificates
to be issued pursuant to the Agreement and this Supplement to be known as
"American Express Credit Account Master Trust, Series 2000-2." The Series 2000-2
Certificates shall be issued in two Classes, the first of which shall be known
as the "Class A Series 2000-2 Floating Rate Asset Backed Certificates" and the
second of which shall be known as the "Class B Series 2000-2 Floating Rate Asset
Backed Certificates." In addition, there is hereby created a third Class of
uncertificated interests in the Trust which shall be known as the "Collateral
Interest, Series 2000-2" and which shall be deemed to be "Investor Certificates"
for all purposes under the Agreement and this Supplement other than for purposes
of the definition of the term "Tax Opinion" in Section 1.01 of the Agreement.
The Collateral Interest shall be considered a Class of Series 2000-2 for all
purposes of the Agreement and this Supplement, including for purposes of voting
concerning the liquidation of the Trust pursuant to Section 9.01 of the
Agreement. The Collateral Interest Holder shall be deemed to be the Series
Enhancer for all purposes under the Agreement and this Supplement.

                  (b) Series 2000-2 shall be included in Group II and shall be a
Principal Sharing Series. Series 2000-2 shall be an Excess Allocation Series.
Series 2000-2 shall not be subordinated to any other Series. Notwithstanding any
provision in the Agreement or in this Supplement to the contrary, the first
Distribution Date with respect to Series 2000-2 shall be the

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March 2000 Distribution Date and the first Monthly Period shall begin on and
include the Closing Date, and end on and include February 23, 2000.

                  (c) Except as expressly provided herein, the provisions of
Article VI and Article XII of the Agreement relating to the registration,
authentication, delivery, presentation, cancellation and surrender of Registered
Certificates shall not be applicable to the Collateral Interest.

                                   ARTICLE XI

                                   Definitions

                  Section 11.01.   Definitions.

                  (a) Whenever used in this Supplement, the following words and
phrases shall have the following meanings, and the definitions of such terms are
applicable to the singular as well as the plural forms of such terms and the
masculine as well as the feminine and neuter genders of such terms.

                  "Additional Interest" means, with respect to any Distribution
Date, the Class A Additional Interest, the Class B Additional Interest and the
Collateral Additional Interest for such Distribution Date.

                  "Adjusted Invested Amount" shall mean, with respect to any
date of determination, an amount equal to the Invested Amount less the Principal
Funding Account Balance on such date of determination.

                  "Available Principal Collections" shall mean, with respect to
any Monthly Period, an amount equal to the sum of (a) (i) an amount equal to the
Principal Allocation Percentage of Series 2000-2 Allocable Principal Collections
received during such Monthly Period minus (ii) the amount of Reallocated
Principal Collections with respect to such Monthly Period which pursuant to
Section 4.08 are required to fund the Required Amount for the related
Distribution Date, (b) any Shared Principal Collections with respect to other
Series that are allocated to Series 2000-2 in accordance with Section 4.04 of
the Agreement and Section 4.11 hereof, and (c) any other amounts which pursuant
to Section 4.05 or 4.07 hereof are to be treated as Available Principal
Collections with respect to the related Distribution Date.

                  "Available Reserve Account Amount" shall mean, with respect to
any Distribution Date, the lesser of (a) the amount on deposit in the Reserve
Account on such date (before giving effect to any deposit to be made to the
Reserve Account on such date) and (b) the Required Reserve Account Amount.

                  "Base Rate" shall mean, with respect to any Monthly Period,
the annualized percentage equivalent of a fraction, the numerator of which is
equal to the sum of the Class A Monthly Interest, the Class B Monthly Interest
(calculated as if the Class B Invested Amount equals the outstanding principal
balance of the Class B Certificates), Collateral Monthly Interest and the
Monthly Servicing Fee with respect to the related Distribution Date and the
denominator of which is the Invested Amount as of the last day of the preceding
Monthly Period.

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                  "Class A Additional Interest" shall have the meaning specified
in subsection 4.02(a).

                  "Class A Adjusted Invested Amount" shall mean, with respect to
any date of determination, an amount equal to the Class A Invested Amount less
the Principal Funding Account Balance (but not in excess of the Class A Invested
Amount) on such date.

                  "Class A Available Funds" shall mean, with respect to any
Monthly Period, an amount equal to the sum of (a) if such Monthly Period relates
to a Distribution Date with respect to the Controlled Accumulation Period, the
amount of Principal Funding Investment Proceeds, if any, with respect to such
Distribution Date, (b) the Class A Floating Percentage of the Reallocated
Investor Finance Charge Collections and (c) the amount of funds, if any, to be
withdrawn from the Reserve Account which, pursuant to subsection 4.12(d), are
required to be included in Class A Available Funds with respect to such
Distribution Date.

                  "Class A Certificate Rate" shall mean, for any Interest Period
with respect to the Class A Certificates, a per annum rate equal to LIBOR plus
0.165%.

                  "Class A Certificateholder" shall mean the Person in whose
name a Class A Certificate is registered in the Certificate Register.

                  "Class A Certificates" shall mean any one of the Certificates
executed by the Transferors and authenticated by or on behalf of the Trustee,
substantially in the form of Exhibit A-l.

                  "Class A Floating Percentage" shall mean, with respect to any
Monthly Period, the percentage equivalent (which percentage shall never exceed
100%) of a fraction, the numerator of which is equal to the Class A Adjusted
Invested Amount as of the close of business on the last day of the preceding
Monthly Period and the denominator of which is equal to the Adjusted Invested
Amount as of such day; provided, however, that with respect to the first Monthly
Period, the Class A Floating Percentage shall mean the percentage equivalent of
a fraction, the numerator of which is the Class A Initial Invested Amount and
the denominator of which is the Initial Invested Amount.

                  "Class A Initial Invested Amount" shall mean $412,500,000.

                  "Class A Interest Shortfall" shall have the meaning specified
in subsection 4.02(a).

                  "Class A Invested Amount" shall mean, on any date of
determination, an amount equal to (a) the Class A Initial Invested Amount, minus
(b) the aggregate amount of principal payments made to the Class A
Certificateholders on or prior to such date, minus (c) the excess, if any, of
(i) the aggregate amount of Class A Investor Charge-Offs for all prior
Distribution Dates over (ii) Class A Investor Charge-Offs reimbursed pursuant to
subsection 4.07(b) prior to such date.

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                  "Class A Investor Charge-Offs" shall have the meaning
specified in subsection 4.06(a).

                  "Class A Investor Default Amount" shall mean, with respect to
each Distribution Date, an amount equal to the product of (i) the Investor
Default Amount for the related Monthly Period and (ii) the Class A Floating
Percentage for such Monthly Period.

                  "Class A Monthly Interest" shall have the meaning specified in
subsection 4.02(a).

                  "Class A Principal Percentage" shall mean, with respect to any
Monthly Period (i) during the Revolving Period, the percentage equivalent (which
percentage shall never exceed 100%) of a fraction, the numerator of which is the
Class A Invested Amount as of the last day of the immediately preceding Monthly
Period and the denominator of which is the Invested Amount as of such day and
(ii) during the Controlled Accumulation Period, the Early Amortization Period or
any Partial Amortization Period, the percentage equivalent (which percentage
shall never exceed 100%) of a fraction, the numerator of which is the Class A
Invested Amount as of the close of business on the date on which the Revolving
Period shall have terminated and the denominator of which is the Invested Amount
as of the close of business on the date on which the Revolving Period shall have
terminated; provided, however, that with respect to the first Monthly Period,
the Class A Principal Percentage shall mean the percentage equivalent of a
fraction, the numerator of which is the Class A Initial Invested Amount and
denominator of which is the Initial Invested Amount.

                  "Class A Required Amount" shall have the meaning specified in
subsection 4.04(a).

                  "Class A Servicing Fee" shall have the meaning specified in
Section 3.01.

                  "Class B Additional Interest" shall have the meaning specified
in subsection 4.02(b).

                  "Class B Adjusted Invested Amount" shall mean an amount equal
to the Class B Invested Amount less the positive difference, if any, between the
Principal Funding Account Balance and the Class A Invested Amount on such date.

                  "Class B Available Funds" shall mean, with respect to any
Monthly Period, an amount equal to the Class B Floating Percentage of the
Reallocated Investor Finance Charge Collections.

                  "Class B Certificate Rate" shall mean, for any Interest Period
with respect to the Class B Certificates, a per annum rate equal to LIBOR plus
0.350%.

                  "Class B Certificateholder" shall mean the Person in whose
name a Class B Certificate is registered in the Certificate Register.

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                  "Class B Certificates" shall mean any one of the Certificates
executed by the Transferors and authenticated by or on behalf of the Trustee,
substantially in the form of Exhibit A-2.

                  "Class B Floating Percentage" shall mean, with respect to any
Monthly Period, the percentage equivalent (which percentage shall never exceed
100%) of a fraction, the numerator of which is equal to the Class B Adjusted
Invested Amount as of the close of business on the last day of the preceding
Monthly Period and the denominator of which is equal to the Adjusted Invested
Amount as of the close of business on such day; provided, however, that with
respect to the first Monthly Period, the Class B Floating Percentage shall mean
the percentage equivalent of a fraction, the numerator of which is the Class B
Initial Invested Amount and the denominator of which is the Initial Invested
Amount.

                  "Class B Initial Invested Amount" shall mean $40,000,000.

                  "Class B Interest Shortfall" shall have the meaning specified
in subsection 4.02(b).

                  "Class B Invested Amount" shall mean, on any date of
determination, an amount equal to (a) the Class B Initial Invested Amount, minus
(b) the aggregate amount of principal payments made to the Class B
Certificateholders prior to such date, minus (c) the aggregate amount of Class B
Investor Charge-Offs for all prior Distribution Dates, minus (d) the amount of
Reallocated Principal Collections allocated on all prior Distribution Dates
pursuant to subsection 4.08(a) (excluding any Reallocated Principal Collections
that have resulted in a reduction in the Collateral Invested Amount pursuant to
Section 4.08), minus (e) an amount equal to the amount by which the Class B
Invested Amount has been reduced on all prior Distribution Dates pursuant to
subsection 4.06(a) and plus (f) the amount of Excess Spread and Excess Finance
Charge Collections allocated and available on all prior Distribution Dates
pursuant to subsection 4.07(e) for the purpose of reimbursing amounts deducted
pursuant to the foregoing clauses (c), (d) and (e); provided, however, that the
Class B Invested Amount may not be reduced below zero.

                  "Class B Investor Charge-Offs" shall have the meaning
specified in subsection 4.06(b).

                  "Class B Investor Default Amount" shall mean, with respect to
each Distribution Date, an amount equal to the product of (i) the Investor
Default Amount for the related Monthly Period and (ii) the Class B Floating
Percentage for such Monthly Period.

                  "Class B Monthly Interest" shall have the meaning specified in
subsection 4.02(b).

                  "Class B Principal Percentage" shall mean, with respect to any
Monthly Period, (i) during the Revolving Period, the percentage equivalent
(which percentage shall never exceed 100%) of a fraction, the numerator of which
is the Class B Invested Amount as of the last day of the immediately preceding
Monthly Period and the denominator of which is the Invested Amount as of such
day and (ii) during the Controlled Accumulation Period, the Early Amortization
Period or any Partial Amortization Period, the percentage equivalent (which
percentage shall never exceed 100%) of a fraction, the numerator of which is the
Class B

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Invested Amount as of the close of business on the date on which the Revolving
Period shall have terminated and the denominator of which is the Invested Amount
as of the close of business on the date on which the Revolving Period shall have
terminated; provided, however, that with respect to the first Monthly Period,
the Class B Principal Percentage shall mean the percentage equivalent of a
fraction, the numerator of which is the Class B Initial Invested Amount and the
denominator of which is the Initial Invested Amount.

                  "Class B Required Amount" shall have the meaning set forth in
subsection 4.04(b).

                  "Class B Servicing Fee" shall have the meaning specified in
Section 3.01.

                  "Closing Date" shall mean February 16, 2000; provided that,
for purposes of determining the date on which the first Monthly Period begins,
the Closing Date shall be deemed to be the close of business on the last day of
the seventh billing cycle applicable to the Accounts ending in January 2000.

                  "Collateral Additional Interest" shall have the meaning
specified in subsection 4.02(c).

                  "Collateral Available Funds" shall mean with respect to any
Distribution Date, the Collateral Floating Percentage of Reallocated Investor
Finance Charge Collections with respect to the preceding Monthly Period.

                  "Collateral Charge-Offs" shall have the meaning specified in
subsection 4.06(c).

                  "Collateral Default Amount" shall mean, with respect to any
Distribution Date, the product of the Investor Default Amount for the related
Monthly Period and the Collateral Floating Percentage.

                  "Collateral Floating Percentage" shall mean, with respect to
any Distribution Date, the percentage equivalent (which percentage shall never
exceed 100%) of a fraction, the numerator of which is equal to the Collateral
Invested Amount as of the close of business on the last day of the preceding
Monthly Period and the denominator of which is the Adjusted Invested Amount as
of the close of business on such last day; provided, however, that with respect
to the first Monthly Period, the Collateral Floating Percentage shall mean the
percentage equivalent of a fraction, the numerator of which is the Collateral
Initial Invested Amount and the denominator of which is the Initial Invested
Amount.

                  "Collateral Initial Invested Amount" shall mean $47,500,000.

                  "Collateral Interest" shall mean a fractional undivided
interest in the Trust which shall consist of the right to receive, to the extent
necessary to make the required payments to the Collateral Interest Holder under
this Supplement, the portion of Collections allocable thereto under the
Agreement and this Supplement and funds on deposit in the Collection Account
allocable thereto pursuant to the Agreement and this Supplement.

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                  "Collateral Interest Holder" shall mean the entity so
designated in the Loan Agreement.

                  "Collateral Interest Shortfall" shall have the meaning
specified in subsection 4.02(c).

                  "Collateral Invested Amount" shall mean, when used with
respect to any date, an amount equal to (a) the Collateral Initial Invested
Amount, minus (b) the aggregate amount of principal payments made to the
Collateral Interest Holder prior to such date, minus (c) the aggregate amount of
Collateral Charge-Offs for all prior Distribution Dates pursuant to subsection
4.06(c), minus (d) the aggregate amount of Reallocated Principal Collections
allocated on all prior Distribution Dates pursuant to Section 4.08 allocable to
the Collateral Invested Amount, minus (e) an amount equal to the amount by which
the Collateral Invested Amount has been reduced on all prior Distribution Dates
pursuant to subsections 4.06(a) and (b), and plus (f) the amount allocated and
available on all prior Distribution Dates pursuant to subsection 4.07(i), for
the purpose of reimbursing amounts deducted pursuant to the foregoing clauses
(c), (d) and (e); provided, however, that the Collateral Invested Amount may not
be reduced below zero.

                  "Collateral Monthly Interest" shall have the meaning specified
in subsection 4.02(c).

                  "Collateral Principal Percentage" shall mean, with respect to
any Monthly Period, (i) during the Revolving Period, the percentage equivalent
(which percentage shall never exceed 100%) of a fraction, the numerator of which
is the Collateral Invested Amount as of the last day of the immediately
preceding Monthly Period and the denominator of which is the Invested Amount as
of such day and (ii) during the Controlled Accumulation Period, the Early
Amortization Period or any Partial Amortization Period, the percentage
equivalent (which percentage shall never exceed 100%) of a fraction, the
numerator of which is the Collateral Invested Amount as of the close of business
on the date on which the Revolving Period shall have terminated and the
denominator of which is the Invested Amount as of the close of business on the
date on which the Revolving Period shall have terminated; provided, however,
that with respect to the first Monthly Period, the Collateral Principal
Percentage shall mean the percentage equivalent of a fraction, the numerator of
which is the Collateral Initial Invested Amount and the denominator of which is
the Initial Invested Amount.

                  "Collateral Rate" shall mean the rate specified in the Loan
Agreement.

                  "Collateral Servicing Fee" shall have the meaning set forth in
Section 3.01.

                  "Controlled Accumulation Amount" shall mean, for any
Distribution Date with respect to the Controlled Accumulation Period,
$37,708,333.33; provided, however, that, if the Controlled Accumulation Period
Length is determined to be less than 12 months, the Controlled Accumulation
Amount for each Distribution Date with respect to the Controlled Accumulation
Period will be equal to (i) the product of (x) the sum of the Class A Initial
Invested Amount and the Class B Initial Invested Amount and (y) the Controlled
Accumulation Period Factor for the related Monthly Period divided by (ii) the
Required Accumulation Factor Number.

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                  "Controlled Accumulation Period" shall mean, unless a Pay-Out
Event shall have occurred prior thereto, the period commencing at the close of
business on the last day of the January 2004 Monthly Period or such later date
as is determined in accordance with subsection 4.03(c) and ending on the first
to occur of (a) the commencement of the Early Amortization Period, (b) the
payment in full of the Invested Amount and (c) the Series 2000-2 Termination
Date.

                  "Controlled Accumulation Period Factor" shall mean, for each
Monthly Period, a fraction, the numerator of which is equal to the sum of the
series invested amounts as of the last day of the prior Monthly Period of all
outstanding Series, and the denominator of which is equal to the sum (without
duplication) of (a) the Series Invested Amount as of the last day of the prior
Monthly Period, (b) the series invested amounts as of the last day of the prior
Monthly Period of all outstanding Series (other than Series 2000-2) that are not
expected to be in their revolving periods, and (c) the series invested amounts
as of the last day of the prior Monthly Period of all other outstanding Series
that are not Principal Sharing Series and are in their revolving periods.

                  "Controlled Accumulation Period Length" has the meaning
specified in subsection 4.03(c).

                  "Controlled Deposit Amount" shall mean, for any Distribution
Date with respect to the Controlled Accumulation Period, an amount equal to the
sum of the Controlled Accumulation Amount for such Distribution Date and any
Deficit Controlled Accumulation Amount for the immediately preceding
Distribution Date.

                  "Covered Amount" shall mean, for any Distribution Date with
respect to the Controlled Accumulation Period or the first Special Payment Date,
if such Special Payment Date occurs prior to the date the Class A Invested
Amount is paid in full, an amount equal to one-twelfth the product of (i) the
Class A Certificate Rate and (ii) the Principal Funding Account Balance, if any,
as of the preceding Distribution Date.

                  "Deficit Controlled Accumulation Amount" shall mean (a) on the
first Distribution Date with respect to the Controlled Accumulation Period, the
excess, if any, of the Controlled Accumulation Amount for such Distribution Date
over the amount deposited in the Principal Funding Account on such Distribution
Date and (b) on each subsequent Distribution Date with respect to the Controlled
Accumulation Period, the excess, if any, of the Controlled Deposit Amount for
such subsequent Distribution Date over the amount deposited in the Principal
Funding Account on such subsequent Distribution Date.

                  "Distribution Date" shall mean March 15, 2000, and the 15th
day of each calendar month thereafter, or if such 15th day is not a Business
Day, the next succeeding Business Day.

                  "Early Amortization Period" shall mean the period commencing
at the close of business on the Business Day immediately preceding the day on
which a Pay-Out Event with respect to Series 2000-2 is deemed to have occurred,
and ending on the first to occur of (i) the payment in full of the Invested
Amount or (ii) the Series 2000-2 Termination Date.

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                  "Excess Spread" shall mean, with respect to any Distribution
Date, the sum of the amounts, if any, specified pursuant to subsections
4.05(a)(iv), 4.05(b)(iii) and 4.05(c)(ii) with respect to such Distribution
Date.

                  "Expected Final Payment Date" shall mean the February 2005
Distribution Date.

                  "Finance Charge Shortfall" shall have the meaning specified in
Section 4.09.

                  "Floating Allocation Percentage" shall mean, with respect to
any Monthly Period, the percentage equivalent (which percentage shall never
exceed 100%) of a fraction, the numerator of which is the Adjusted Invested
Amount as of the last day of the preceding Monthly Period (or with respect to
the first Monthly Period, the Initial Invested Amount) and the denominator of
which is the product of (x) the Series 2000-2 Allocation Percentage with respect
to such Monthly Period and (y) the sum of (i) the total amount of Principal
Receivables in the Trust as of such day (or with respect to the first Monthly
Period, the total amount of Principal Receivables in the Trust on the Closing
Date) and (ii) the principal amount on deposit in the Special Funding Account as
of such last day (or with respect to the first Monthly Period, as of the Closing
Date); provided, however, that with respect to any Monthly Period in which an
Addition Date for an Aggregate Addition or a Removal Date occurs the amount in
(y)(i) above shall be (1) the aggregate amount of Principal Receivables in the
Trust at the end of the day on the last day of the prior Monthly Period for the
period from and including the first day of such Monthly Period to but excluding
the related Addition Date or Removal Date and (2) the aggregate amount of
Principal Receivables in the Trust at the end of the day on the related Addition
Date or Removal Date for the period from and including the related Addition Date
or Removal Date to and including the last day of such Monthly Period.

                  "Group II" shall mean Series 2000-2 and each other Series
specified in the related Supplement to be included in Group II.

                  "Group II Investor Additional Amounts" shall mean, with
respect to any Distribution Date, the sum of (a) Series 2000-2 Additional
Amounts for such Distribution Date and (b) for all other Series included in
Group II, the sum of (i) the aggregate net amount by which the Invested Amounts
of such Series have been reduced as a result of investor charge-offs,
subordination of principal collections and funding the investor default amounts
in respect of any Class or Series Enhancement interests of such Series as of
such Distribution Date and (ii) if the applicable Supplements so provide, the
aggregate unpaid amount of interest at the applicable certificate rates that has
accrued on the amounts described in the preceding clause (i) for such
Distribution Date.

                  "Group II Investor Default Amount" shall mean, with respect to
any Distribution Date, the sum of (a) the Investor Default Amount for such
Distribution Date and (b) the aggregate amount of the investor default amounts
for all other Series included in Group II for such Distribution Date.

                  "Group II Investor Finance Charge Collections" shall mean,
with respect to any Distribution Date, the sum of (a) Investor Finance Charge
Collections for such Distribution Date and (b) the aggregate amount of the
investor finance charge collections for all other Series included in Group II
for such Distribution Date.

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                  "Group II Investor Monthly Fees" shall mean with respect to
any Distribution Date, the sum of (a) Series 2000-2 Monthly Fees for such
Distribution Date and (b) the aggregate amount of the servicing fees, investor
fees, fees payable to any Series Enhancer and any other similar fees, which are
payable out of reallocated investor finance charge collections pursuant to the
related Supplements, for all other Series included in Group II for such
Distribution Date.

                  "Group II Investor Monthly Interest" shall mean, with respect
to any Distribution Date, the sum of (a) Series 2000-2 Monthly Interest for such
Distribution Date and (b) the aggregate amount of monthly interest, including
overdue monthly interest and interest on such overdue monthly interest, if such
amounts are payable out of reallocated investor finance charge collections
pursuant to the related Supplements, for all other Series included in Group II
for such Distribution Date.

                  "Initial Invested Amount" shall mean $500,000,000.

                  "Interest Period" shall mean, with respect to any Distribution
Date, the period (a) from and including the Distribution Date immediately
preceding such Distribution Date (or, in the case of the first Distribution
Date, from and including the Closing Date) and (b) to but excluding such
Distribution Date.

                  "Invested Amount" shall mean, as of any date of determination,
an amount equal to the sum of (a) the Class A Invested Amount as of such date,
(b) the Class B Invested Amount as of such date and (c) the Collateral Invested
Amount as of such date.

                  "Investor Charge-Offs" shall mean Class A Investor
Charge-Offs, Class B Investor Charge-Offs and Collateral Charge-Offs.

                  "Investor Default Amount" shall mean, with respect to any
Distribution Date, an amount equal to the product of (a) the Series 2000-2
Allocable Defaulted Amount for the related Monthly Period and (b) the Floating
Allocation Percentage for such Monthly Period.

                  "Investor Finance Charge Collections" shall mean with respect
to any Distribution Date, an amount equal to the product of (a) the Floating
Allocation Percentage for the related Monthly Period and (b) Series 2000-2
Allocable Finance Charge Collections deposited in the Collection Account for the
related Monthly Period.

                  "LIBOR" shall mean, for any Interest Period, a per annum
interest rate determined by the Trustee for such Interest Period in accordance
with the provisions of Section 4.14.

                  "LIBOR Determination Date" shall mean, for the initial
Interest Period, the second London Business Day prior to the Closing Date and,
for every other Interest Period, the second London Business Day prior to the
commencement of such Interest Period.

                  "Loan Agreement" shall mean the agreement among the
Transferors, the Trustee, the Servicer and the Collateral Interest Holder, dated
as of the date hereof.

                                       10
<PAGE>

                  "London Business Day" shall mean any day on which dealings in
deposits in United States dollars are transacted in the London interbank market.

                   "Monthly Interest" means, with respect to any Distribution
Date, the Class A Monthly Interest, the Class B Monthly Interest and the
Collateral Monthly Interest for such Distribution Date.

                  "Monthly Servicing Fee" shall have the meaning specified in
subsection 3.01.

                  "Pay-Out Event" shall mean any Pay-Out Event specified in
Section 6.01.

                  "Principal Allocation Percentage" shall mean, with respect to
any day during a Monthly Period, the percentage equivalent (which percentage
shall never exceed 100%) of a fraction, the numerator of which is (a) during the
Revolving Period, the Series Adjusted Invested Amount for Series 2000-2 as of
the last day of the immediately preceding Monthly Period (or, in the case of the
first Monthly Period, the Initial Invested Amount) and (b) during the Controlled
Accumulation Period, the Early Amortization Period or any Partial Amortization
Period, the Series Adjusted Invested Amount for Series 2000-2 as of the close of
business on the date on which the Revolving Period shall have terminated and the
denominator of which is the product of (x) the sum of (i) the total amount of
Principal Receivables in the Trust as of the last day of the immediately
preceding Monthly Period (or with respect to the first Monthly Period, the total
amount of Principal Receivables in the Trust as of the Closing Date) and (ii)
the principal amount on deposit in the Special Funding Account as of such last
day (or with respect to the first Monthly Period, the Closing Date) and (y) the
Series 2000-2 Allocation Percentage as of the last day of the immediately
preceding Monthly Period; provided, however, that with respect to any Monthly
Period in which an Addition Date for an Aggregate Addition or a Removal Date
occurs the amount in (x)(i) above shall be (1) the aggregate amount of Principal
Receivables in the Trust at the end of the day on the last day of the prior
Monthly Period for the period from and including the first day of such Monthly
Period to but excluding the related Addition Date or Removal Date and (2) the
aggregate amount of Principal Receivables in the Trust at the end of the day on
the related Addition Date or Removal Date for the period from and including the
related Addition Date or Removal Date to and including the last day of such
Monthly Period; and provided further, that if after the commencement of the
Controlled Accumulation Period a Pay-Out Event occurs with respect to another
Series that was designated in the Supplement therefor as a Series that is a
"Paired Series" with respect to Series 2000-2, the Transferors may, by written
notice delivered to the Trustee and the Servicer, designate a different
numerator for the foregoing fraction, provided that (x) such numerator is not
less than the Adjusted Invested Amount as of the last day of the revolving
period for such Paired Series, (y) the Transferors shall have received written
notice from each Rating Agency that the Rating Agency Condition has been
satisfied with respect to such designation and shall have delivered copies of
each such written notice to the Servicer and the Trustee and (z) the Transferors
shall have delivered to the Trustee an Officer's Certificate to the effect that,
based on the facts known to such officer at such time, in the reasonable belief
of the Transferors, such designation will not cause a Pay-Out Event or an event
that, after the giving of notice or the lapse of time, would constitute a
Pay-Out Event, to occur with respect to Series 2000-2.

                  "Principal Funding Account" shall have the meaning specified
in subsection 4.03(a)(i).

                                       11
<PAGE>

                  "Principal Funding Account Balance" shall mean, with respect
to any date of determination during the Controlled Accumulation Period, the
principal amount, if any, on deposit in the Principal Funding Account on such
date of determination.

                  "Principal Funding Investment Proceeds" shall have the meaning
specified in subsection 4.03(a)(ii).

                  "Principal Funding Investment Shortfall" shall mean, with
respect to each Distribution Date during the Controlled Accumulation Period, the
amount, if any, by which the Principal Funding Investment Proceeds are less than
the Covered Amount.

                  "Reallocated Investor Finance Charge Collections" shall mean
that portion of Group II Investor Finance Charge Collections allocated to Series
2000-2 pursuant to Section 4.10.

                  "Reallocated Principal Collections" shall mean, with respect
to any Monthly Period, the product of (a) the Series 2000-2 Allocable Principal
Collections deposited in the Collection Account for such Monthly Period and (b)
the sum of the Class B Principal Percentage and the Collateral Principal
Percentage.

                  "Reassignment Amount" shall mean, with respect to any
Distribution Date, after giving effect to any deposits and distributions
otherwise to be made on such Distribution Date, the sum of (i) the Adjusted
Invested Amount on such Distribution Date, plus (ii) Monthly Interest for such
Distribution Date and any Monthly Interest previously due but not distributed to
the Series 2000-2 Certificateholders on a prior Distribution Date, plus (iii)
the amount of Additional Interest, if any, for such Distribution Date and any
Additional Interest previously due but not distributed to the Series 2000-2
Certificateholders on a prior Distribution Date.

                  "Reference Banks" shall mean four major banks in the London
interbank market selected by the Servicer.

                  "Required Accumulation Factor Number" shall be equal to a
fraction, rounded upwards to the nearest whole number, the numerator of which is
one and the denominator of which is equal to the lowest monthly principal
payment rate on the Accounts, expressed as a decimal, for the three months
preceding the date of such calculation.

                  "Required Amount" shall mean, with respect to any Monthly
Period, the sum of the Class A Required Amount and the Class B Required Amount.

                  "Required Collateral Invested Amount" shall mean (i) initially
$47,500,000 and (ii) on any Distribution Date thereafter, 9.50% of the sum of
the Class A Adjusted Invested Amount on such Distribution Date, the Class B
Adjusted Invested Amount on such Distribution Date (in each case after taking
into account payments to be made on such Distribution Date) and the Collateral
Invested Amount on such Distribution Date after taking into account any
adjustments made on such Distribution Date, but not less than $15,000,000;
provided, however, that (1) if either (a) there is a reduction in the Collateral
Invested Amount pursuant to clauses (c), (d) or (e) of the definition thereof
during the Controlled Accumulation Period or (b) a Pay-Out Event with respect to
the Series 2000-2 Certificates has occurred, the Required Collateral

                                       12
<PAGE>

Invested Amount for such Distribution Date thereafter shall equal the Required
Collateral Invested Amount for such Distribution Date immediately preceding such
reduction or Pay-Out Event, (2) in no event shall the Required Collateral
Invested Amount exceed the unpaid principal amount of the Series 2000-2
Certificates as of the last day of the Monthly Period preceding such
Distribution Date after taking into account payments to be made on the related
Distribution Date and (3) the Required Collateral Invested Amount may be reduced
to a lesser amount at any time if the Rating Agency Condition is satisfied.

                  "Required Reserve Account Amount" shall mean, with respect to
any Distribution Date on or after the Reserve Account Funding Date, an amount
equal to (1) 0.50% of the Class A Invested Amount as of the preceding
Distribution Date (after giving effect to all changes therein on such date) or
(2) any other percentage (which may be 0%) of the Class A Invested Amount
designated by the Transferors, provided that if such percentage is less than the
percentage specified in clause (1) above, the Transferors shall have received
the prior written consent of the Collateral Interest Holder and written notice
from each Rating Agency that the Rating Agency Condition shall have been
satisfied with respect to such designation and shall have delivered copies of
each such written notice to the Servicer and the Trustee.

                  "Reserve Account" shall have the meaning specified in
subsection 4.12(a).

                  "Reserve Account Funding Date" shall mean the Distribution
Date which occurs not later than the earliest of (a) the Distribution Date with
respect to the Monthly Period that commences not later than three months prior
to the Distribution Date with respect to the first Monthly Period in the
Controlled Accumulation Period, (b) in the event that the average Excess Spread
Percentage for any three consecutive Monthly Periods ending in the February 2003
Monthly Period or any Monthly Period thereafter is less than 2%, the
Distribution Date with respect to such Monthly Period, (c) in the event that the
average Excess Spread Percentage for any three consecutive Monthly Periods
ending in the August 2003 Monthly Period or any Monthly Period thereafter is
less than 3%, the Distribution Date with respect to such Monthly Period and (d)
such earlier Distribution Date as the Transferors may determine by written
notice to the Trustee and the Servicer. For this purpose, the "Excess Spread
Percentage" for any Monthly Period shall be equal to the Series Adjusted
Portfolio Yield for such Monthly Period minus the Base Rate for such Monthly
Period.

                  "Reserve Account Surplus" shall mean, as of any date of
determination, the amount, if any, by which the amount on deposit in the Reserve
Account exceeds the Required Reserve Account Amount.

                  "Reserve Draw Amount" shall have the meaning specified in
subsection 4.12(c).

                  "Revolving Period" shall mean the period beginning at the
close of business on the Series Cut-Off Date and ending on the earlier of (a)
the close of business on the day immediately preceding the day the Controlled
Accumulation Period commences and (b) the close of business on the day
immediately preceding the day the Early Amortization Period commences.

                  "Series Adjusted Portfolio Yield" shall mean, with respect to
any Monthly Period, the annualized percentage equivalent of a fraction, (A) the
numerator of which is equal to (a)

                                       13
<PAGE>

Reallocated Investor Finance Charge Collections with respect to such Monthly
Period, plus (b) the amount of any Principal Funding Investment Proceeds for the
related Distribution Date, plus (c) provided that each Rating Agency has
consented in writing to the inclusion thereof in calculating the Series Adjusted
Portfolio Yield, any Excess Finance Charge Collections that are allocated to
Series 2000-2 with respect to such Monthly Period plus (d) the amount of funds,
if any, withdrawn from the Reserve Account which pursuant to subsection 4.12(d)
are required to be included as Class A Available Funds for the Distribution Date
with respect to such Monthly Period minus (e) the Investor Default Amount for
the Distribution Date with respect to such Monthly Period, and (B) the
denominator of which is the Invested Amount as of the last day of the preceding
Monthly Period.

                  "Series Cut-Off Date" shall mean the close of business on
February 16, 2000.

                  "Series 2000-2" shall mean the Series of Certificates the
terms of which are specified in this Supplement.

                  "Series 2000-2 Additional Amounts" shall mean, with respect to
any Distribution Date, the sum of the amounts determined pursuant to subsections
4.07(b), (e) and (i) for such Distribution Date.

                  "Series 2000-2 Allocable Defaulted Amount" shall mean the
Series Allocable Defaulted Amount with respect to Series 2000-2.

                  "Series 2000-2 Allocable Finance Charge Collections" shall
mean the Series Allocable Finance Charge Collections with respect to Series
2000-2.

                  "Series 2000-2 Allocable Principal Collections" shall mean the
Series Allocable Principal Collections with respect to Series 2000-2.

                  "Series 2000-2 Allocation Percentage" shall mean the Series
Allocation Percentage with respect to Series 2000-2.

                  "Series 2000-2 Certificate" shall mean a Class A Certificate
or a Class B Certificate or the Collateral Interest.

                  "Series 2000-2 Certificateholder" shall mean a Class A
Certificateholder or a Class B Certificateholder or the Collateral Interest
Holder.

                  "Series 2000-2 Certificateholders' Interest" shall mean the
Certificateholders' Interest for Series 2000-2, including the Collateral
Interest.

                  "Series 2000-2 Monthly Fees" shall mean, with respect to any
Distribution Date, the amount determined pursuant to subsections 4.05(a)(ii),
(b)(ii) and (c)(i) and subsection 4.07(g).

                  "Series 2000-2 Monthly Interest" shall mean the amounts
determined pursuant to subsections 4.02(a), (b) and (c).

                                       14
<PAGE>

                  "Series 2000-2 Principal Shortfall" shall have the meaning
specified in Section 4.11.

                  "Series 2000-2 Termination Date" shall mean the September 2007
Distribution Date.

                  "Series Invested Amount" shall mean the Initial Invested
Amount.

                  "Series Required Transferor Amount" shall mean an amount equal
to 7% of the Invested Amount.

                  "Servicing Base Amount" shall have the meaning specified in
Section 3.01.

                  "Servicing Fee Rate" shall mean 2.0% per annum.

                  "Special Payment Date" shall mean each Distribution Date with
respect to the Early Amortization Period.

                  "Telerate Page 3750" shall mean the display page currently so
designated on the Dow Jones Service (or such other page as may replace that page
on that service for the purpose of displaying comparable rates or prices).

                  "Transferor Percentage" shall mean 100% minus (a) the Floating
Allocation Percentage, when used at any time with respect to Finance Charge
Receivables and Defaulted Receivables, or (b) the Principal Allocation
Percentage, when used at any time with respect to Principal Receivables.

                   (b) Notwithstanding anything to the contrary in this
Supplement or the Agreement, the term "Rating Agency" shall mean, whenever used
in this Supplement or the Agreement with respect to Series 2000-2, Moody's and
Standard & Poor's. As used in this Supplement and in the Agreement with respect
to Series 2000-2, "highest investment category" shall mean (i) in the case of
Standard & Poor's, AAA or A-1+, as applicable and (ii) in the case of Moody's,
Aaa or P-1, as applicable.

                   (c) Each capitalized term defined herein shall relate to the
Series 2000-2 Certificates and no other Series of Certificates issued by the
Trust, unless the context otherwise requires. All capitalized terms used herein
and not otherwise defined herein have the meanings ascribed to them in the
Agreement. In the event that any term or provision contained herein shall
conflict with or be inconsistent with any term or provision contained in the
Agreement, the terms and provisions of this Supplement shall govern.

                   (d) The words "hereof," "herein" and "hereunder" and words of
similar import when used in this Supplement shall refer to this Supplement as a
whole and not to any particular provision of this Supplement; references to any
Article, subsection, Section or Exhibit are references to Articles, subsections,
Sections and Exhibits in or to this Supplement unless otherwise specified; and
the term "including" means "including without limitation."

                                       15
<PAGE>

                                  ARTICLE XII

                                 Servicing Fee

                   Section 12.01. Servicing Compensation. The share of the
Servicing Fee allocable to the Series 2000-2 Certificateholders with respect to
any Distribution Date (the "Monthly Servicing Fee") shall be equal to
one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the
Adjusted Invested Amount as of the last day of the Monthly Period preceding such
Distribution Date, (or, in the case of the first Distribution Date, the product
of (x) the actual number of days from and including the Closing Date to and
including February 29, 2000, divided by 365, (y) the Servicing Fee Rate and (z)
the Initial Invested Amount) minus (ii) the product of the amount, if any, on
deposit in the Special Funding Account as of the last day of the Monthly Period
preceding such Distribution Date and the Series 2000-2 Allocation Percentage
with respect to such Monthly Period (the amount calculated pursuant to this
clause (b) is referred to as the "Servicing Base Amount"). The share of the
Monthly Servicing Fee allocable to the Class A Certificateholders with respect
to any Distribution Date (the "Class A Servicing Fee") shall be equal to
one-twelfth of the product of (a) the Class A Floating Percentage, (b) the
Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly
Servicing Fee allocable to the Class B Certificateholders with respect to any
Distribution Date (the "Class B Servicing Fee") shall be equal to one-twelfth of
the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate
and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee
allocable to the Collateral Interest with respect to any Distribution Date (the
"Collateral Servicing Fee") shall be equal to one-twelfth of the product of the
(a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the
Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the
Holders of the Transferor Certificates or the investor certificateholders of
other Series (as provided in the related Supplements) and in no event shall the
Trust, the Trustee or the Series 2000-2 Certificateholders be liable for the
share of the Servicing Fee to be paid by the Holders of the Transferor
Certificates or the investor certificateholders of any other Series. To the
extent that the Class A Servicing Fee, the Class B Servicing Fee and the
Collateral Servicing Fee are not paid in full pursuant to the preceding
provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid
by the Holders of the Transferor Certificates.

                                  ARTICLE XIII

                 Rights of Series 2000-2 Certificateholders and
                   Allocation and Application of Collections

                   Section 13.01. Collections and Allocations.

                   (a) Allocations. Collections of Finance Charge Receivables
and Principal Receivables and Defaulted Receivables allocated to Series 2000-2
pursuant to Article IV of the Agreement (and, as described herein, Collections
of Finance Charge Receivables reallocated from other Series in Group II) shall
be allocated and distributed or reallocated as set forth in this Article.

                                       16
<PAGE>

                   (b) Payments to the Transferor. The Servicer shall on each
Deposit Date withdraw from the Collection Account and pay to the Holders of the
Transferor Certificates the following amounts:

                       (i)  an amount equal to the Transferor Percentage for the
                   related Monthly Period of Series 2000-2 Allocable Finance
                   Charge Collections to the extent such amount is deposited in
                   the Collection Account; and

                       (ii) an amount equal to the Transferor Percentage for the
                   related Monthly Period of Series 2000-2 Allocable Principal
                   Collections deposited in the Collection Account, if the
                   Transferor Amount (determined after giving effect to any
                   Principal Receivables transferred to the Trust on such
                   Deposit Date) exceeds zero.

                   The withdrawals to be made from the Collection Account
pursuant to this subsection 4.01(b) do not apply to deposits into the Collection
Account that do not represent Collections, including payment of the purchase
price for the Certificateholders' Interest pursuant to Section 2.06 or 10.01 of
the Agreement, payment of the purchase price for the Series 2000-2
Certificateholders' Interest pursuant to Section 7.01 of this Supplement and
proceeds from the sale, disposition or liquidation of Receivables pursuant to
Section 9.01 or 12.02 of the Agreement.

                   (c) Allocations to the Series 2000-2 Certificateholders. The
Servicer shall, prior to the close of business on each Deposit Date, allocate to
the Series 2000-2 Certificateholders the following amounts as set forth below:

                       (i)  Allocations of Finance Charge Collections. The
                   Servicer shall allocate to the Series 2000-2
                   Certificateholders and retain in the Collection Account for
                   application as provided herein an amount equal to the product
                   of (A) the Floating Allocation Percentage and (B) the Series
                   2000-2 Allocation Percentage and (C) the aggregate amount of
                   Collections of Finance Charge Receivables deposited in the
                   Collection Account on such Deposit Date.

                       (ii) Allocations of Principal Collections.  The Servicer
                   shall allocate to the Series 2000-2 Certificateholders the
                   following amounts as set forth below:

                                (a) Allocations During the Revolving Period.
                           During the Revolving Period (A) an amount equal to
                           the product of (I) the sum of the Class B Principal
                           Percentage and the Collateral Principal Percentage
                           and (II) the Principal Allocation Percentage and
                           (III) the Series 2000-2 Allocation Percentage and
                           (IV) the aggregate amount of Collections of Principal
                           Receivables deposited in the Collection Account on
                           such Deposit Date, shall be allocated to the Series
                           2000-2 Certificateholders and retained in the
                           Collection Account until applied as provided herein
                           and (B) an amount equal to the product of (I) the
                           Class A Principal Percentage and (II) the Principal
                           Allocation Percentage and (III) the Series 2000-2
                           Allocation Percentage and (IV) the aggregate amount
                           of

                                       17
<PAGE>

                           Collections of Principal Receivables deposited in
                           the Collection Account on such Deposit Date shall be
                           allocated to the Series 2000-2 Certificateholders
                           and, to the extent needed to make any distribution
                           pursuant to subsection 4.05(d)(i), deposited in the
                           Collection Account, and otherwise first, if any
                           other Principal Sharing Series is outstanding and in
                           its amortization period or accumulation period,
                           retained in the Collection Account for application,
                           to the extent necessary, as Shared Principal
                           Collections on the related Distribution Date, and
                           second paid to the Holders of the Transferor
                           Certificates; provided, however, that such amount to
                           be paid to the Holders of the Transferor
                           Certificates on any Deposit Date shall be paid to
                           such Holders only if the Transferor Amount on such
                           Deposit Date is greater than the Required Transferor
                           Amount (after giving effect to all Principal
                           Receivables transferred to the Trust on such day)
                           and otherwise shall be deposited in the Special
                           Funding Account.

                                (b) Allocations During the Controlled
                           Accumulation Period. During the Controlled
                           Accumulation Period (A) an amount equal to the
                           product of (I) the sum of the Class B Principal
                           Percentage and the Collateral Principal Percentage
                           and (II) the Principal Allocation Percentage and
                           (III) the Series 2000-2 Allocation Percentage and
                           (IV) the aggregate amount of Collections of Principal
                           Receivables deposited in the Collection Account on
                           such Deposit Date, shall be allocated to the Series
                           2000-2 Certificateholders and retained in the
                           Collection Account until applied as provided herein
                           and (B) an amount equal to the product of (I) the
                           Class A Principal Percentage and (II) the Principal
                           Allocation Percentage and (III) the Series 2000-2
                           Allocation Percentage and (IV) the aggregate amount
                           of Collections of Principal Receivables deposited in
                           the Collection Account on such Deposit Date (the
                           product specified in this clause (B) for any such
                           date is hereinafter referred to as a "Percentage
                           Allocation") shall be allocated to the Series 2000-2
                           Certificateholders and retained in the Collection
                           Account until applied as provided herein; provided,
                           however, that if the sum of such Percentage
                           Allocation and all preceding Percentage Allocations
                           with respect to the same Monthly Period exceeds the
                           Controlled Deposit Amount during the Controlled
                           Accumulation Period for the related Distribution
                           Date, then such excess shall not be treated as a
                           Percentage Allocation and shall be first, if any
                           other Principal Sharing Series is outstanding and in
                           its amortization period or accumulation period,
                           retained in the Collection Account for application,
                           to the extent necessary, as Shared Principal
                           Collections on the related Distribution Date, and
                           second paid to the Holders of the Transferor
                           Certificates only if the Transferor Amount on such
                           Deposit Date is greater than the Required Transferor
                           Amount (after giving effect to all Principal
                           Receivables transferred to the Trust on such day) and
                           otherwise shall be deposited in the Special Funding
                           Account.

                                       18
<PAGE>

                                (c) Allocations During the Early Amortization
                           Period. During the Early Amortization Period, an
                           amount equal to the product of (A) the Principal
                           Allocation Percentage and (B) the Series 2000-2
                           Allocation Percentage and (C) the aggregate amount
                           of Collections of Principal Receivables deposited in
                           the Collection Account on such Deposit Date, shall
                           be allocated to the Series 2000-2 Certificateholders
                           and retained in the Collection Account until applied
                           as provided herein; provided, however, that after
                           the date on which an amount of such Collections
                           equal to the Adjusted Invested Amount has been
                           deposited into the Collection Account and allocated
                           to the Series 2000-2 Certificateholders, the
                           remainder that has not been so deposited and
                           allocated shall be first, if any other Principal
                           Sharing Series is outstanding and in its
                           amortization period or accumulation period, retained
                           in the Collection Account for application, to the
                           extent necessary, as Shared Principal Collections on
                           the related Distribution Date, and second paid to
                           the Holders of the Transferor Certificates only if
                           the Transferor Amount on such date is greater than
                           the Required Transferor Amount (after giving effect
                           to all Principal Receivables transferred to the
                           Trust on such day) and otherwise shall be deposited
                           in the Special Funding Account.

                   Section 13.02. Determination of Monthly Interest.

                   (a) The amount of monthly interest ("Class A Monthly
Interest") distributable from the Collection Account with respect to the Class A
Certificates on any Distribution Date shall be an amount equal to the product of
(i) a fraction, the numerator of which is the actual number of days in the
period from (and including) the immediately preceding Distribution Date (or in
the case of the first Distribution Date, the Closing Date) to (but excluding)
such Distribution Date and the denominator of which is 360, (ii) the Class A
Certificate Rate for such Distribution Date and (iii) the outstanding principal
balance of the Class A Certificates as of close of business on the immediately
preceding Record Date.

                   On the Determination Date preceding each Distribution Date,
the Servicer shall determine the excess, if any (the "Class A Interest
Shortfall"), of (x) the Class A Monthly Interest for such Distribution Date over
(y) the aggregate amount of funds allocated and available to pay such Class A
Monthly Interest on such Distribution Date. If the Class A Interest Shortfall
with respect to any Distribution Date is greater than zero, on each subsequent
Distribution Date until such Class A Interest Shortfall is fully paid, an
additional amount ("Class A Additional Interest") equal to the product of (i) a
fraction, the numerator of which is the actual number of days in the period from
(and including) the immediately preceding Distribution Date (or in the case of
the first Distribution Date, the Closing Date) to (but excluding) such
Distribution Date and the denominator of which is 360, (ii) the sum of (x) the
Class A Certificate Rate and (y) 2.0% per annum and (iii) such Class A Interest
Shortfall (or the portion thereof which has not been paid to the Class A
Certificateholders) shall be payable as provided herein with respect to the
Class A Certificates. Notwithstanding anything to the contrary herein, Class A
Additional Interest shall be payable or distributed to the Class A
Certificateholders only to the extent permitted by applicable law.

                                       19
<PAGE>

                   (b) The amount of monthly interest ("Class B Monthly
Interest") distributable from the Collection Account with respect to the Class B
Certificates on any Distribution Date shall be an amount equal to the product of
(i) a fraction, the numerator of which is the actual number of days in the
period from (and including) the immediately preceding Distribution Date (or in
the case of the first Distribution Date, the Closing Date) to (but excluding)
such Distribution Date and the denominator of which is 360, (ii) the Class B
Certificate Rate for such Distribution Date and (iii) the Class B Invested
Amount as of the close of business on the immediately preceding Record Date.

                   On the Determination Date preceding each Distribution Date,
the Servicer shall determine the excess, if any (the "Class B Interest
Shortfall"), of (x) the Class B Monthly Interest for such Distribution Date over
(y) the aggregate amount of funds allocated and available to pay such Class B
Monthly Interest on such Distribution Date. If the Class B Interest Shortfall
with respect to any Distribution Date is greater than zero, on each subsequent
Distribution Date until such Class B Interest Shortfall is fully paid, an
additional amount ("Class B Additional Interest") equal to the product of (i) a
fraction, the numerator of which is the actual number of days in the period from
(and including) the immediately preceding Distribution Date (or in the case of
the first Distribution Date, the Closing Date) to (but excluding) such
Distribution Date and the denominator of which is 360, (ii) the sum of (x) the
Class B Certificate Rate and (y) 2.0% per annum and (iii) such Class B Interest
Shortfall (or the portion thereof which has not been paid to the Class B
Certificateholders) shall be payable as provided herein with respect to the
Class B Certificates. Notwithstanding anything to the contrary herein, Class B
Additional Interest shall be payable or distributed to the Class B
Certificateholders only to the extent permitted by applicable law.

                   (c) The amount of monthly interest ("Collateral Monthly
Interest") distributable from the Collection Account with respect to the
Collateral Invested Amount on any Distribution Date 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 period from (and including) the immediately preceding
Distribution Date (or in the case of the first Distribution Date, the Closing
Date) to (but excluding) such Distribution Date and the denominator of which is
360, (B) the Collateral Rate in effect with respect to the period from (and
including) the immediately preceding Distribution Date (or in the case of the
first Distribution Date, the Closing Date) to (but excluding) such Distribution
Date, and (ii) the Collateral Invested Amount as of the close of business on the
last day of the preceding Monthly Period; provided, however, with respect to the
first Distribution Date, Collateral Monthly Interest shall be equal to the
interest accrued on the Collateral Initial Invested Amount at the Collateral
Rate for the period from the Closing Date to but excluding the first
Distribution Date.

                   On the Determination Date preceding each Distribution Date,
the Servicer shall determine an amount (the "Collateral Interest Shortfall")
equal to (x) the aggregate Collateral Monthly Interest for such Distribution
Date minus (y) the aggregate amount of funds allocated and available to pay such
Collateral Monthly Interest on such Distribution Date. If the Collateral
Interest Shortfall with respect to any Distribution Date is greater than zero,
on each subsequent Distribution Date until such Collateral Interest Shortfall is
fully paid, an additional amount ("Collateral Additional Interest") shall be
payable as provided herein with respect to the Collateral Invested Amount equal
to the product of (i) (A) a fraction, the numerator of which is

                                       20
<PAGE>

the actual number of days in the period from (and including) the immediately
preceding Distribution Date to (but excluding) such Distribution Date and the
denominator of which is 360, (B) the Collateral Rate in effect during the period
from (and including) the immediately preceding Distribution Date to (but
excluding) such Distribution Date, and (ii) such Collateral Interest Shortfall
(or the portion thereof which has not been paid to the Collateral Interest
Holder). Notwithstanding anything to the contrary herein, Collateral Additional
Interest shall be payable or distributed to the Collateral Interest Holder only
to the extent permitted by applicable law.

                   Section 13.03. Principal Funding Account; Controlled
Accumulation Period.

                   (a) (i)   The Servicer, for the benefit of the Series 2000-2
Certificateholders, shall establish and maintain in the name of the Trustee, on
behalf of the Trust, an Eligible Deposit Account (the "Principal Funding
Account"), bearing a designation clearly indicating that the funds deposited
therein are held for the benefit of the Series 2000-2 Certificateholders. The
Principal Funding Account shall initially be established with the Trustee.

                       (ii)  At the written direction of the Servicer, funds on
deposit in the Principal Funding Account shall be invested by the Trustee in
Eligible Investments selected by the Servicer. All such Eligible Investments
shall be held by the Trustee for the benefit of the Series 2000-2
Certificateholders; provided that on each Distribution Date all interest and
other investment income (net of losses and investment expenses) ("Principal
Funding Investment Proceeds") on funds on deposit therein shall be applied as
set forth in paragraph (iii) below. Funds on deposit in the Principal Funding
Account shall be invested in Eligible Investments that will mature so that such
funds will be available at the close of business on the Transfer Date preceding
the following Distribution Date. Unless the Servicer directs otherwise, funds
deposited in the Principal Funding Account on a Transfer Date (which immediately
precedes a Payment Date) upon the maturity of any Eligible Investments are not
required to be invested overnight. No such Eligible Investment shall be disposed
of prior to its maturity; provided, however, that the Trustee may sell,
liquidate or dispose of any such Eligible Investment before its maturity, at the
written direction of the Servicer, if such sale, liquidation or disposal would
not result in a loss of all or part of the principal portion of such Eligible
Investment or if, prior to the maturity of such Eligible Investment, a default
occurs in the payment of principal, interest or any other amount with respect to
such Eligible Investment.

                       (iii) On each Distribution Date with respect to the
Controlled Accumulation Period, the Servicer shall direct the Trustee in writing
to withdraw from the Principal Funding Account and deposit into the Collection
Account all Principal Funding Investment Proceeds then on deposit in the
Principal Funding Account and such Principal Funding Investment Proceeds shall
be treated as a portion of Class A Available Funds and Class B Available Funds.

                       (iv)  Reinvested interest and other investment income on
funds deposited in the Principal Funding Account shall not be considered to be
principal amounts on deposit therein for purposes of this Supplement.

                                       21
<PAGE>

                   (b) (i)  The Trustee shall possess all right, title and
interest in all funds on deposit from time to time in the Principal Funding
Account and in all proceeds thereof. The Principal Funding Account shall be
under the sole dominion and control of the Trustee for the benefit of the Series
2000-2 Certificateholders. If, at any time, the Principal Funding Account ceases
to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf)
shall within 10 Business Days (or such longer period, not to exceed 30 calendar
days, as to which each Rating Agency may consent) establish a new Principal
Funding Account meeting the conditions specified in paragraph (a)(i) above as an
Eligible Deposit Account and shall transfer any cash or any investments to such
new Principal Funding Account.

                       (ii) Pursuant to the authority granted to the Servicer in
subsection 3.01(b) of the Agreement, the Servicer shall have the power to make
withdrawals and payments or to instruct the Trustee to make withdrawals and
payments from the Principal Funding Account for the purposes of carrying out the
Servicer's or Trustee's duties hereunder. Pursuant to the authority granted to
the Paying Agent in Section 5.01 of this Supplement and Section 6.07 of the
Agreement, the Paying Agent shall have the power to withdraw funds from the
Principal Funding Account for the purpose of making distributions to the Series
2000-2 Certificateholders.

                   (c) The Controlled Accumulation Period is scheduled to
commence at the close of business on the last day of the January 2004 Monthly
Period; provided, however, that if the Controlled Accumulation Period Length
(which shall be determined as described below) is less than 12 months, the date
on which the Controlled Accumulation Period actually commences will be delayed
to the close of business on the last day of the month preceding the month that
is the number of months prior to the Expected Final Payment Date at least equal
to the Controlled Accumulation Period Length and, as a result, the number of
Monthly Periods in the Controlled Accumulation Period will at least equal the
Controlled Accumulation Period Length. On the Determination Date immediately
preceding the January 2004 Distribution Date, and on each Determination Date
thereafter that occurs prior to the Determination Date occurring in the Monthly
Period in which the Controlled Accumulation Period commences, the Servicer will
determine the "Controlled Accumulation Period Length" which will equal the
number of months such that the sum of the Controlled Accumulation Period Factors
for each month during such period will be equal to or greater than the Required
Accumulation Factor Number; provided, however, that the Controlled Accumulation
Period Length shall not be less than one month. Notwithstanding the foregoing,
if the Controlled Accumulation Period Length shall have been determined to be
less than 12 months and, after the date on which such determination is made, a
Pay-Out Event or Reinvestment Event (as those terms are defined in the
Supplement for such Series) shall occur with respect to any outstanding
Principal Sharing Series other than Series 2000-2, the Controlled Accumulation
Period will commence on the earlier of (i) the first day of the Monthly Period
immediately succeeding the date that such Pay-Out Event or Reinvestment Event
shall have occurred with respect to such Series and (ii) the date on which the
Controlled Accumulation Period is then scheduled to commence.

                   Section 13.04. Required Amount.

                   (a) With respect to each Distribution Date, on the related
Determination Date, the Servicer shall determine the amount (the "Class A
Required Amount"), if any, by which (x) the sum of (i) Class A Monthly Interest
for such Distribution Date, (ii) any Class A Monthly

                                       22
<PAGE>

Interest previously due but not paid to the Class A Certificateholders on a
prior Distribution Date, (iii) any Class A Additional Interest for such
Distribution Date and (iv) any Class A Additional Interest previously due but
not paid to the Class A Certificateholders on a prior Distribution Date, (v) if
TRS or an Affiliate of TRS is no longer the Servicer, the Class A Servicing Fee
for such Distribution Date, (vi) if TRS or an Affiliate of TRS is no longer the
Servicer, any Class A Servicing Fee previously due but not paid to the Servicer,
and (vii) the Class A Investor Default Amount, if any, for such Distribution
Date exceeds (y) the Class A Available Funds. In the event that the difference
between (x) the Class A Required Amount for such Distribution Date and (y) the
amount of Excess Spread and Excess Finance Charge Collections applied with
respect thereto pursuant to subsection 4.07(a) on such Distribution Date is
greater than zero, the Servicer shall give written notice to the Trustee of such
excess Class A Required Amount on the date of computation.

                   (b) With respect to each Distribution Date, on the related
Determination Date, the Servicer shall determine the amount (the "Class B
Required Amount"), if any, equal to the sum of (x) the amount, if any, by which
(A) the sum of (i) Class B Monthly Interest for such Distribution Date, (ii) any
Class B Monthly Interest previously due but not paid to the Class B
Certificateholders, (iii) Class B Additional Interest, if any, for such
Distribution Date, (iv) any Class B Additional Interest previously due but not
paid to the Class B Certificateholders on a prior Distribution Date, (v) if TRS
or an Affiliate of TRS is no longer the Servicer, the Class B Servicing Fee for
such Distribution Date and (vi) if TRS or an Affiliate of TRS is no longer the
Servicer, any Class B Servicing Fee previously due but not paid to the Servicer
exceeds (B) the Class B Available Funds and (y) the Class B Investor Default
Amount for such Distribution Date. In the event that the difference between (x)
the Class B Required Amount for such Distribution Date and (y) the amount of
Excess Spread and Excess Finance Charge Collections applied with respect thereto
pursuant to subsection 4.07(c) on such Distribution Date is greater than zero,
the Servicer shall give written notice to the Trustee of such excess Class B
Required Amount on the date of computation.

                   Section 13.05. Application of Class A Available Funds, Class
B Available Funds, Collateral Available Funds and Available Principal
Collections. The Servicer shall apply, or shall cause the Trustee to apply by
written instruction to the Trustee, on each Distribution Date, Class A Available
Funds, Class B Available Funds, Collateral Available Funds and Available
Principal Collections on deposit in the Collection Account with respect to such
Distribution Date to make the following distributions:

                   (a) On each Distribution Date, an amount equal to the Class A
Available Funds with respect to such Distribution Date will be distributed or
deposited in the following priority:

                       (i)   an amount equal to Class A Monthly Interest for
                   such Distribution Date, plus the amount of any Class A
                   Monthly Interest previously due but not distributed to Class
                   A Certificateholders on a prior Distribution Date, plus the
                   amount of any Class A Additional Interest for such
                   Distribution Date and any Class A Additional Interest
                   previously due but not distributed to Class A
                   Certificateholders on a prior Distribution Date, shall be
                   distributed to the Paying Agent for payment to the Class A
                   Certificateholders;

                                       23
<PAGE>

                       (ii)  if TRS or an Affiliate of TRS is no longer the
                   Servicer, an amount equal to the Class A Servicing Fee for
                   such Distribution Date, plus the amount of any Class A
                   Servicing Fee previously due but not distributed to the
                   Servicer on a prior Distribution Date, shall be distributed
                   to the Servicer (unless such amount has been netted against
                   deposits to the Collection Account in accordance with Section
                   4.03 of the Agreement);

                       (iii) an amount equal to the Class A Investor Default
                   Amount for such Distribution Date shall be treated as a
                   portion of Available Principal Collections for such
                   Distribution Date; and

                       (iv)  the balance, if any, shall constitute Excess Spread
                   and shall be allocated and distributed or deposited as set
                   forth in Section 4.07.

                   (b) On each Distribution Date, an amount equal to the Class B
Available Funds with respect to such Distribution Date will be distributed or
deposited in the following priority:

                       (i)   an amount equal to Class B Monthly Interest for
                   such Distribution Date, plus the amount of any Class B
                   Monthly Interest previously due but not distributed to Class
                   B Certificateholders on a prior Distribution Date, plus the
                   amount of any Class B Additional Interest for such
                   Distribution Date and any Class B Additional Interest
                   previously due but not distributed to Class B
                   Certificateholders on a prior Distribution Date, shall be
                   distributed to the Paying Agent for payment to the Class B
                   Certificateholders;

                       (ii)  if TRS or an Affiliate of TRS is no longer the
                   Servicer, an amount equal to the Class B Servicing Fee for
                   such Distribution Date, plus the amount of any Class B
                   Servicing Fee previously due but not distributed to the
                   Servicer on a prior Distribution Date, shall be distributed
                   to the Servicer (unless such amount has been netted against
                   deposits to the Collection Account in accordance with Section
                   4.03 of the Agreement); and

                       (iii) the balance, if any, shall constitute Excess Spread
                   and shall be allocated and distributed or deposited as set
                   forth in Section 4.07.

                   (c) On each Distribution Date, an amount equal to the
Collateral Available Funds with respect to such Distribution Date will be
distributed or deposited in the following priority:

                       (i)   if TRS or an Affiliate of TRS is no longer the
                   Servicer, an amount equal to the Collateral Servicing Fee for
                   such Distribution Date, plus the amount of any Collateral
                   Servicing Fee previously due but not distributed to the
                   Servicer on a prior Distribution Date, shall be distributed
                   to the Servicer (unless such amount has been netted against
                   deposits to the Collection Account in accordance with Section
                   4.03 of the Agreement); and

                                       24
<PAGE>

                       (ii)  the balance, if any, shall constitute Excess Spread
                   and shall be allocated and distributed or deposited as set
                   forth in Section 4.07.

                   (d) On each Distribution Date with respect to the Revolving
Period, an amount equal to the Available Principal Collections deposited in the
Collection Account for the related Monthly Period shall be distributed in the
following order of priority:

                       (i)  an amount equal to the excess, if any, of the
                   Collateral Invested Amount over the Required Collateral
                   Invested Amount shall be paid to the Collateral Interest
                   Holder for application in accordance with the Loan Agreement;
                   and

                       (ii) the balance of such Available Principal Collections
                   shall be treated as Shared Principal Collections and applied
                   in accordance with Section 4.04 of the Agreement.

                   (e) On each Distribution Date with respect to the Controlled
Accumulation Period, an amount equal to the Available Principal Collections
deposited in the Collection Account for the related Monthly Period shall be
distributed in the following order of priority:

                       (i)   an amount equal to the lesser of (x) the Controlled
                   Deposit Amount and (y) the sum of the Class A Adjusted
                   Invested Amount and the Class B Adjusted Invested Amount
                   shall be deposited in the Principal Funding Account;

                       (ii)  for each Distribution Date prior to the
                   Distribution Date on which the Class B Invested Amount is
                   paid in full, after giving effect to paragraph (i) above, an
                   amount equal to the balance, if any, of such Available
                   Principal Collections shall be paid to the Collateral
                   Interest Holder for application in accordance with the Loan
                   Agreement to the extent the Collateral Invested Amount
                   exceeds the Required Collateral Invested Amount;

                       (iii) for each Distribution Date beginning on the
                   Distribution Date on which the Class B Invested Amount shall
                   have been paid in full, an amount up to the Collateral
                   Invested Amount shall be paid to the Collateral Interest
                   Holder for application in accordance with the Loan Agreement;
                   and

                       (iv) the balance of such Available Principal Collections
                   shall be treated as Shared Principal Collections and applied
                   in accordance with Section 4.04 of the Agreement.

                   (f) On each Distribution Date with respect to the Early
Amortization Period, an amount equal to Available Principal Collections
deposited in the Collection Account for the related Monthly Period shall be
distributed or deposited in the following order of priority:

                       (i)   an amount up to the Class A Adjusted Invested
                   Amount on such Distribution Date shall be deposited in the
                   Principal Funding Account for distribution to the Class A
                   Certificateholders;

                                       25
<PAGE>

                       (ii)  for each Distribution Date beginning on the
                   Distribution Date on which the Class A Invested Amount is
                   paid in full, an amount up to the Class B Adjusted Invested
                   Amount on such Distribution Date shall be deposited in the
                   Principal Funding Account for distribution to the Class B
                   Certificateholders;

                       (iii) for each Distribution Date beginning on the
                   Distribution Date on which the Class B Invested Amount is
                   paid in full, an amount up to the Collateral Invested Amount
                   on such Distribution Date shall be paid to the Collateral
                   Interest Holder for application in accordance with the Loan
                   Agreement; and

                       (iv)  for each Distribution Date, after giving effect to
                   paragraphs (i), (ii) and (iii) above, an amount equal to the
                   balance, if any, of such Available Principal Collections will
                   be treated as Shared Principal Collections and applied in
                   accordance with Section 4.04 of the Agreement.

                   Section 13.06. Defaulted Amounts; Investor Charge-Offs.

                   (a) On each Determination Date, the Servicer shall calculate
the Class A Investor Default Amount, if any, for the related Distribution Date.
If, on any Distribution Date, the Class A Required Amount for the related
Monthly Period exceeds the sum of (x) the amount of Reallocated Principal
Collections allocated to Series 2000-2 with respect to such Monthly Period and
(y) the amount of Excess Spread and the Excess Finance Charge Collections
allocable to Series 2000-2 with respect to such Monthly Period, the Collateral
Invested Amount, if any, will be reduced by the amount of such excess, but not
by more than the Class A Investor Default Amount for such Distribution Date. In
the event that such reduction would cause the Collateral Invested Amount to be a
negative number, the Collateral Invested Amount will be reduced to zero and the
Class B Invested Amount shall be reduced by the amount by which the Collateral
Invested Amount would have been reduced below zero, but not by more than the
excess, if any, of the Class A Investor Default Amount for such Distribution
Date over the amount of such reduction, if any, of the Collateral Invested
Amount with respect to such Distribution Date. In the event that such reduction
would cause the Class B Invested Amount to be a negative number, the Class B
Invested Amount shall be reduced to zero, and the Class A Invested Amount shall
be reduced by the amount by which the Class B Invested Amount would have been
reduced below zero, but not by more than the excess, if any, of the Class A
Investor Default Amount for such Distribution Date over the aggregate amount of
the reductions, if any, of the Collateral Invested Amount and the Class B
Invested Amount for such Distribution Date (a "Class A Investor Charge-Off").
Class A Investor Charge-Offs shall thereafter be reimbursed and the Class A
Invested Amount increased (but not by an amount in excess of the aggregate
unreimbursed Class A Investor Charge-Offs) on any Distribution Date by the
amount of Excess Spread and Excess Finance Charge Collections allocated and
available for that purpose pursuant to subsection 4.07(b). References to
"negative numbers" above shall be determined without regard to the requirement
that the Invested Amount of a Class not be reduced below zero.

                   (b) On each Determination Date, the Servicer shall calculate
the Class B Investor Default Amount, if any, for the related Distribution Date.
If, on any Distribution Date, the Class B Required Amount for such Distribution
Date exceeds the sum of (x) the amount of Excess Spread and Excess Finance
Charge Collections allocated to Series 2000-2 with respect to

                                       26
<PAGE>

the related Monthly Period which are allocated and available to pay such amount
pursuant to subsection 4.07(c) and (y) the Reallocated Principal Collections
allocable to the Collateral Interest and not required to pay the Class A
Required Amount with respect to such Distribution Date, then the Collateral
Invested Amount shall be reduced by the amount of such excess. In the event that
such reduction would cause the Collateral Invested Amount to be a negative
number, the Collateral Invested Amount shall be reduced to zero, and the Class B
Invested Amount shall be reduced by the amount by which the Collateral Invested
Amount would have been reduced below zero, but not by more than the excess, if
any, of the Class B Investor Default Amount for such Distribution Date over the
amount of such reduction, if any, of the Collateral Invested Amount with respect
to such Distribution Date (a "Class B Investor Charge-Off"). Class B Investor
Charge-Offs shall thereafter be reimbursed and the Class B Invested Amount
increased (but not by an amount in excess of the aggregate unreimbursed Class B
Investor Charge-Offs) on any Distribution Date by the amount of Excess Spread
and Excess Finance Charge Collections allocated and available for that purpose
pursuant to subsection 4.07(e). References to "negative numbers" above shall be
determined without regard to the requirement that the Invested Amount of a Class
not be reduced below zero.

                   (c) On each Determination Date, the Servicer shall calculate
the Collateral Default Amount. If on any Distribution Date the Collateral
Default Amount for the previous Monthly Period exceeds the amount of Excess
Spread and Excess Finance Charge Collections allocated to Series 2000-2 with
respect to the related Monthly Period which are allocated and available to pay
such amount pursuant to subsection 4.07(h), the Collateral Invested Amount will
be reduced by the amount of such excess but not by more than the lesser of the
Collateral Default Amount and the Collateral Invested Amount for such
Distribution Date (a "Collateral Charge-Off"). The Collateral Invested Amount
will be reimbursed after any reduction pursuant to this Section 4.06 on any
Distribution Date by the amount of Excess Spread and Excess Finance Charge
Collections allocated and available on such Distribution date for that purpose
as described under subsection 4.07(i).

                   Section 13.07. Excess Spread; Excess Finance Charge
Collections. The Servicer shall apply, or shall cause the Trustee to apply by
written instruction to the Trustee, on each Distribution Date, Excess Spread and
Excess Finance Charge Collections allocated to Series 2000-2 with respect to the
related Monthly Period, to make the following distributions or deposits in the
following order of priority:

                   (a) an amount equal to the Class A Required Amount, if any,
with respect to such Distribution Date shall be distributed by the Trustee to
fund the Class A Required Amount in accordance with, and in the priority set
forth in, subsections 4.05(a)(i), (ii) and (iii);

                   (b) an amount equal to the aggregate amount of Class A
Investor Charge-Offs which have not been previously reimbursed shall be treated
as a portion of Available Principal Collections for such Distribution Date;

                   (c) an amount equal to interest on the aggregate outstanding
principal balance of the Class B Certificates not otherwise distributed to the
Class B Certificateholders pursuant to Section 4.05(b)(i), at a rate per annum
equal to the Class B Certificate Rate, shall be distributed to the Class B
Certificateholders, except that interest previously due but not paid will accrue
interest at a rate per annum equal to the Class B Certificate Rate plus 2% per
annum;

                                       27
<PAGE>

                   (d) an amount equal to the Class B Required Amount, if any,
with respect to such Distribution Date will be (i) used to fund the Class B
Required Amount and be applied in accordance with subsection 4.05(b)(ii), and
then (ii) an amount up to the Class B Investor Default Amount will be treated
and applied as Available Principal Collections for such Distribution Date;

                   (e) an amount equal to the aggregate amount by which the
Class B Invested Amount has been reduced pursuant to clauses (c), (d) and (e) of
the definition of "Class B Invested Amount" in Section 2.01 of this Supplement
(but not in excess of the aggregate amount of such reductions which have not
been previously reimbursed) shall be treated as a portion of Available Principal
Collections for such Distribution Date;

                   (f) an amount equal to Collateral Monthly Interest for such
Distribution Date, plus the amount of any Collateral Monthly Interest previously
due but not distributed to the Collateral Interest Holder on a prior
Distribution Date, plus the amount of any Collateral Additional Interest for
such Distribution Date and any Collateral Additional Interest previously due but
not distributed to the Collateral Interest Holder on a prior Distribution Date,
shall be distributed to the Collateral Interest Holder for application in
accordance with the Loan Agreement;

                   (g) an amount equal to the Monthly Servicing Fee for such
Distribution Date that has not been paid to the Servicer and any Monthly
Servicing Fee due but not paid to the Servicer on a prior Distribution Date
shall be paid to the Servicer;

                   (h) an amount equal to the Collateral Default Amount, if any,
for such Distribution Date shall be treated as a portion of Available Principal
Collections for such Distribution Date;

                   (i) an amount equal to the aggregate amount by which the
Collateral Invested Amount has been reduced pursuant to clauses (c), (d) and (e)
of the definition of "Collateral Invested Amount" (but not in excess of the
aggregate amount of such reductions which have not been previously reimbursed)
shall be treated as a portion of Available Principal Collections for such
Distribution Date;

                   (j) on each Distribution Date from and after the Reserve
Account Funding Date, but prior to the date on which the Reserve Account
terminates pursuant to subsection 4.12(f), an amount up to the excess, if any,
of the Required Reserve Account Amount over the Available Reserve Account Amount
shall be deposited into the Reserve Account;

                   (k) an amount equal to the aggregate of any other amounts
then required to be applied pursuant to the Loan Agreement (to the extent such
amounts are required to be applied pursuant to the Loan Agreement out of Excess
Spread and Excess Finance Charge Collections) shall be distributed to the
Collateral Interest Holder for application in accordance with the Loan
Agreement; and

                   (l) balance, if any, will constitute a portion of Excess
Finance Charge Collections for such Distribution Date and will be available for
allocation to other Series or to the Holders of the Transferor Certificates as
described in Section 4.05 of the Agreement.

                                       28
<PAGE>

                   Section 13.08. Reallocated Principal Collections. On each
Distribution Date, the Servicer shall apply, or shall cause the Trustee to
apply, Reallocated Principal Collections with respect to such Distribution Date,
to make the following distributions or deposits in the following order of
priority:

                   (a) an amount equal to the excess, if any, of (i) the Class A
Required Amount, if any, with respect to such Distribution Date over (ii) the
amount of Excess Spread and Excess Finance Charge Collections allocated to
Series 2000-2 with respect to the related Monthly Period shall be distributed by
the Trustee to fund any deficiency pursuant to and in the priority set forth in
subsections 4.05(a)(i), (ii) and (iii); and

                   (b) an amount equal to the excess, if any, of (i) the Class B
Required Amount, if any, with respect to such Distribution Date over (ii) the
amount of Excess Spread and Excess Finance Charge Collections allocated and
available to the Class B Certificates pursuant to subsections 4.07(c) and (d) on
such Distribution Date shall be applied first to fund any deficiency pursuant to
subsections 4.05(b)(i) and (ii) and then to fund any deficiency pursuant to and
in the priority set forth in subsections 4.07(c) and (d).

                   On each Distribution Date, the Collateral Invested Amount
shall be reduced by the amount of Reallocated Principal Collections for such
Distribution Date. In the event that such reduction would cause the Collateral
Invested Amount (after giving effect to any Collateral Charge-Offs for such
Distribution Date) to be a negative number, the Collateral Invested Amount
(after giving effect to any Collateral Charge-Offs for such Distribution Date)
shall be reduced to zero and the Class B Invested Amount shall be reduced by the
amount by which the Collateral Invested Amount would have been reduced below
zero. In the event that the reallocation of Reallocated Principal Collections
would cause the Class B Invested Amount (after giving effect to any Class B
Investor Charge-Offs for such Distribution Date) to be a negative number on any
Distribution Date, Reallocated Principal Collections shall be reallocated on
such Distribution Date in an aggregate amount not to exceed the amount which
would cause the Class B Invested Amount (after giving to any Class B Investor
Charge-Offs for such Distribution Date) to be reduced to zero. References to
"negative numbers" above shall be determined without regard to the requirement
that the Invested Amount of a Class not be reduced below zero.

                   Section 13.09. Excess Finance Charge Collections. Series
2000-2 shall be an Excess Allocation Series. Subject to Section 4.05 of the
Agreement, Excess Finance Charge Collections with respect to the Excess
Allocation Series for any Distribution Date will be allocated to Series 2000-2
in an amount equal to the product of (x) the aggregate amount of Excess Finance
Charge Collections with respect to all the Excess Allocation Series for such
Distribution Date and (y) a fraction, the numerator of which is the Finance
Charge Shortfall for Series 2000-2 for such Distribution Date and the
denominator of which is the aggregate amount of Finance Charge Shortfalls for
all the Excess Allocation Series for such Distribution Date. The "Finance Charge
Shortfall" for Series 2000-2 for any Distribution Date will be equal to the
excess, if any, of (a) the full amount required to be paid, without duplication,
pursuant to subsections 4.05(a), 4.05(b) and 4.05(c) and subsections 4.07(a)
through (k) on such Distribution Date over (b) the sum of (i) the Reallocated
Investor Finance Charge Collections, (ii) if such Monthly Period relates to a
Distribution Date with respect to the Controlled Accumulation Period or Early
Amortization Period, the amount of Principal Funding Investment Proceeds, if

                                       29
<PAGE>

any, with respect to such Distribution Date and (iii) the amount of funds, if
any, to be withdrawn from the Reserve Account which, pursuant to subsection
4.12(d), are required to be included in Class A Available Funds with respect to
such Distribution Date.

                   Section 13.10. Reallocated Investor Finance Charge
Collections.

                   (a) That portion of Group II Investor Finance Charge
Collections for any Distribution Date equal to the amount of Reallocated
Investor Finance Charge Collections for such Distribution Date will be allocated
to Series 2000-2 and will be distributed as set forth in this Supplement.

                   (b) Reallocated Investor Finance Charge Collections with
respect to any Distribution Date shall equal the sum of (i) the aggregate amount
of Series 2000-2 Monthly Interest, Investor Default Amount, Series 2000-2
Monthly Fees and Series 2000-2 Additional Amounts for such Distribution Date and
(ii) that portion of excess Group II Investor Finance Charge Collections to be
included in Reallocated Investor Finance Charge Collections pursuant to
subsection (c) hereof; provided, however, that if the amount of Group II
Investor Finance Charge Collections for such Distribution Date is less than the
sum of (w) Group II Investor Monthly Interest, (x) Group II Investor Default
Amount, (y) Group II Investor Monthly Fees and (z) Group II Investor Additional
Amounts, then Reallocated Investor Finance Charge Collections shall equal the
sum of the following amounts for such Distribution Date:

                       (A) The product of (I) Group II Investor Finance Charge
                   Collections (up to the amount of Group II Investor Monthly
                   Interest) and (II) a fraction, the numerator of which is
                   Series 2000-2 Monthly Interest and the denominator of which
                   is Group II Investor Monthly Interest;

                       (B) the product of (I) Group II Investor Finance Charge
                   Collections less the amount of Group II Investor Monthly
                   Interest (up to the Group II Investor Default Amount) and
                   (II) a fraction, the numerator of which is the Investor
                   Default Amount and the denominator of which is the Group II
                   Investor Default Amount;

                       (C) the product of (I) Group II Investor Finance Charge
                   Collections less the amount of Group II Investor Monthly
                   Interest and the Group II Investor Default Amount (up to
                   Group II Investor Monthly Fees) and (II) a fraction, the
                   numerator of which is Series 2000-2 Monthly Fees and the
                   denominator of which is Group II Investor Monthly Fees; and

                       (D) the product of (I) Group II Investor Finance Charge
                   Collections less the sum of (i) Group II Investor Monthly
                   Interest, (ii) the Group II Investor Default Amount and (iii)
                   Group II Investor Monthly Fees and (II) a fraction, the
                   numerator of which is Series 2000-2 Additional Amounts and
                   the denominator of which is Group II Investor Additional
                   Amounts.

                   (c) If the amount of Group II Investor Finance Charge
Collections for such Distribution Date exceeds the sum of (i) Group II Investor
Monthly Interest, (ii) Group II Investor Default Amount, (iii) Group II Investor
Monthly Fees and (iv) Group II Investor

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<PAGE>

Additional Amounts, then Reallocated Investor Finance Charge Collections for
such Distribution Date shall include an amount equal to the product of (x) the
amount of such excess and (y) a fraction, the numerator of which is the Invested
Amount as of the last day of the second preceding Monthly Period (or, for Series
2000-2 only, with respect to the first Distribution Date, as of the Closing
Date) and the denominator of which is the sum of such Invested Amount and the
aggregate invested amounts for all other Series included in Group II as of such
last day (or, for Series 2000-2 only, with respect to the first Distribution
Date, as of the Closing Date).

                   Section 13.11. Shared Principal Collections. Subject to
Section 4.04 of the Agreement, Shared Principal Collections for any Distribution
Date will be allocated to Series 2000-2 in an amount equal to the product of (x)
the aggregate amount of Shared Principal Collections with respect to all
Principal Sharing Series for such Distribution Date and (y) a fraction, the
numerator of which is the Series 2000-2 Principal Shortfall for such
Distribution Date and the denominator of which is the aggregate amount of
Principal Shortfalls for all the Series which are Principal Sharing Series for
such Distribution Date. The "Series 2000-2 Principal Shortfall" will be equal to
(a) for any Distribution Date with respect to the Revolving Period, zero, (b)
for any Distribution Date with respect to the Controlled Accumulation Period,
the excess, if any, of the Controlled Deposit Amount with respect to such
Distribution Date over the amount of Available Principal Collections for such
Distribution Date (excluding any portion thereof attributable to Shared
Principal Collections), and (c) for any Distribution Date with respect to the
Early Amortization Period, the excess, if any, of the Invested Amount over the
amount of Available Principal Collections for such Distribution Date (excluding
any portion thereof attributable to Shared Principal Collections).

                   Section 13.12. Reserve Account.

                   (a) The Servicer shall establish and maintain, in the name of
the Trustee, on behalf of the Trust, for the benefit of the Class A
Certificateholders and the Collateral Interest Holder, an Eligible Deposit
Account (the "Reserve Account") bearing a designation clearly indicating that
the funds deposited therein are held for the benefit of the Class A
Certificateholders and the Collateral Interest Holder. The Reserve Account shall
initially be established with the Trustee. The Trustee shall possess all right,
title and interest in all funds on deposit from time to time in the Reserve
Account and in all proceeds thereof. The Reserve Account shall be under the sole
dominion and control of the Trustee for the benefit of the Class A
Certificateholders and the Collateral Interest Holder. If at any time the
Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the
Servicer on its behalf) shall within 10 Business Days (or such longer period,
not to exceed 30 calendar days, as to which each Rating Agency shall consent)
establish a new Reserve Account meeting the conditions specified above as an
Eligible Deposit Account, and shall transfer any cash or any investments to such
new Reserve Account. The Trustee, at the direction of the Servicer, shall (i)
make withdrawals from the Reserve Account from time to time in an amount up to
the Available Reserve Account Amount at such time, for the purposes set forth in
this Supplement, and (ii) on each Distribution Date (from and after the Reserve
Account Funding Date) prior to the termination of the Reserve Account make a
deposit into the Reserve Account in the amount specified in, and otherwise in
accordance with, subsection 4.07(j).

                                       31
<PAGE>

                   (b) Funds on deposit in the Reserve Account shall be invested
at the written direction of the Servicer by the Trustee in Eligible Investments.
Funds on deposit in the Reserve Account on any Transfer Date, after giving
effect to any withdrawals from the Reserve Account on such Transfer Date, shall
be invested in such investments that will mature so that such funds will be
available for withdrawal on or prior to the following Transfer Date. The Trustee
shall maintain for the benefit of the Class A Certificateholders and the
Collateral Interest Holder possession of the negotiable instruments or
securities, if any, evidencing such Eligible Investments. No such Eligible
Investment shall be disposed of prior to its maturity; provided, however, that
the Trustee may sell, liquidate or dispose of any such Eligible Investment
before its maturity, at the written direction of the Servicer, if such sale,
liquidation or disposal would not result in a loss of all or part of the
principal portion of such Eligible Investment or if, prior to the maturity of
such Eligible Investment, a default occurs in the payment of principal, interest
or any other amount with respect to such Eligible Investment. On each
Distribution Date, all interest and earnings (net of losses and investment
expenses) accrued since the preceding Distribution Date on funds on deposit in
the Reserve Account shall be retained in the Reserve Account (to the extent that
the Available Reserve Account Amount is less than the Required Reserve Account
Amount) and the balance, if any, shall be deposited in the Collection Account
and treated as collections of Finance Charge Receivables allocable to Series
2000-2. For purposes of determining the availability of funds or the balance in
the Reserve Account for any reason under this Supplement, except as otherwise
provided in the preceding sentence, investment earnings on such funds shall be
deemed not to be available or on deposit.

                   (c) On the Determination Date preceding each Distribution
Date with respect to the Controlled Accumulation Period and the first Special
Payment Date, the Servicer shall calculate the "Reserve Draw Amount" which shall
be equal to the excess, if any, of the Covered Amount with respect to such
Distribution Date or Special Payment Date over the Principal Funding Investment
Proceeds with respect to such Distribution Date or Special Payment Date;
provided, that such amount will be reduced to the extent that funds otherwise
would be available for deposit in the Reserve Account under subsection 4.07(j)
with respect to such Distribution Date or Special Payment Date.

                   (d) In the event that for any Distribution Date the Reserve
Draw Amount is greater than zero, the Reserve Draw Amount, up to the Available
Reserve Account Amount, shall be withdrawn from the Reserve Account on the
related Transfer Date by the Trustee (acting in accordance with the instructions
of the Servicer), deposited into the Collection Account and included in Class A
Available Funds for such Distribution Date.

                   (e) In the event that the Reserve Account Surplus on any
Distribution Date, after giving effect to all deposits to and withdrawals from
the Reserve Account with respect to such Distribution Date, is greater than
zero, the Trustee, acting in accordance with the written instructions of the
Servicer, shall withdraw from the Reserve Account, and pay to the Collateral
Interest Holder for application in accordance with the Loan Agreement, an amount
equal to such Reserve Account Surplus.

                   (f) Upon the earliest to occur of (i) the day on which the
Invested Amount is paid in full to the Series 2000-2 Certificateholders, (ii) if
the Controlled Accumulation Period has not commenced, the occurrence of a
Pay-Out Event with respect to Series 2000-2, (iii) if the

                                       32
<PAGE>

Controlled Accumulation Period has commenced, the earlier of the first Special
Payment Date and the Expected Final Payment Date and (iv) the termination of the
Trust pursuant to the Agreement, the Trustee, acting in accordance with the
instructions of the Servicer, after the prior payment of all amounts owing to
the Class A Certificateholders which are payable from the Reserve Account as
provided herein, shall withdraw from the Reserve Account and pay to the
Collateral Interest Holder for application in accordance with the Loan Agreement
all amounts, if any, on deposit in the Reserve Account and the Reserve Account
shall be deemed to have terminated for purposes of this Supplement.

                   Section 13.13. Investment Instructions. Any investment
instructions required to be given to the Trustee pursuant to the terms hereof
must be given to the Trustee no later than 10:30 a.m. (New York City time) on
the date such investment is to be made. In the event the Trustee receives such
investment instruction later than such time, the Trustee may, but shall have no
obligation to, make such investment. In the event the Trustee is unable to make
an investment required in an investment instruction received by the Trustee
after 10:30 a.m. (New York City time) on such day, such investment shall be made
by the Trustee on the next succeeding Business Day. In no event shall the
Trustee be liable for any investment not made pursuant to investment
instructions received after 10:30 a.m. (New York City time) on the day such
investment is requested to be made.

                   Section 13.14. Determination of LIBOR.

                   (a) On each LIBOR Determination Date, the Trustee will
determine LIBOR for the related Interest Period, which shall be the rate for
deposits in United States dollars for a period equal to one month (commencing on
the first day of such Interest Period) that appears on Telerate page 3750 as of
11:00 a.m., London time, on such date. Upon such determination, the Trustee
shall notify the Servicer of LIBOR for such LIBOR Determination Date. If such
rate does not appear on Telerate Page 3750, the rate for the LIBOR Determination
Date will 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
period equal to one month (commencing on the first day of such Interest Period).
The Servicer will 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 will be the arithmetic mean
of the quotations. If fewer than two quotations are provided as requested, the
rate for that LIBOR Determination Date will be the arithmetic mean of the rates
quoted by major banks in New York City, selected by the Servicer, 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 period equal to one month
(commencing on the first day of such Interest Period). If the banks selected by
the Servicer are not quoting rates as provided in the immediately preceding
sentence, LIBOR for such Interest Period will be LIBOR in effect for the
immediately preceding Interest Period.

                   (b) The Servicer shall determine, and promptly notify the
Trustee of, the Class A Certificate Rate and the Class B Certificate Rate for
the applicable Interest Period. The Class A Certificate Rate and Class B
Certificate Rate applicable to the then current and the immediately preceding
Interest Periods may be obtained by any Investor Certificateholder by
telephoning the Trustee at its Corporate Trust Office at (212) 815-5738.

                                       33
<PAGE>

                   (c) On each LIBOR Determination Date prior to 3:00 p.m., New
York City time, the Trustee shall send to the Servicer by facsimile,
notification of LIBOR for the following Interest Period.

                                  ARTICLE XIV

                          Distributions and Reports to
                        Series 2000-2 Certificateholders

                   Section 14.01. Distributions.

                   (a) On each Distribution Date, the Paying Agent shall
distribute to each Class A Certificateholder of record on the related Record
Date (other than as provided in Section 12.02 of the Agreement) such Class A
Certificateholder's pro rata share of the amounts held by the Paying Agent that
are allocated and available on such Distribution Date to pay interest on the
Class A Certificates pursuant to this Supplement.

                   (b) On each Special Payment Date and on the Expected Final
Payment Date, the Paying Agent shall distribute (in accordance with the
Certificate delivered by the Servicer pursuant to Section 3.04(b) of the
Agreement) to each Class A Certificateholder of record on the related Record
Date (other than as provided in Section 12.02 of the Agreement) such Class A
Certificateholder's pro rata share of the amounts on deposit in the Principal
Funding Account or otherwise held by the Paying Agent that are allocated and
available on such date to pay principal of the Class A Certificates pursuant to
this Supplement up to a maximum amount on any such date equal to the Class A
Invested Amount on such date (unless there has been an optional repurchase of
the Series 2000-2 Certificateholders' Interest pursuant to Section 10.01 of the
Agreement, in which event the foregoing limitation will not apply).

                   (c) On each Distribution Date, the Paying Agent shall
distribute (in accordance with the Certificate delivered by the Servicer
pursuant to Section 3.04(b) of the Agreement) to each Class B Certificateholder
of record on the related Record Date (other than as provided in Section 12.02 of
the Agreement) such Class B Certificateholder's pro rata share of the amounts
held by the Paying Agent that are allocated and available on such Distribution
Date to pay interest on the Class B Certificates pursuant to this Supplement.

                   (d) On each Special Payment Date, and on the Expected Final
Payment Date, the Paying Agent shall distribute (in accordance with the
Certificate delivered by the Servicer pursuant to Section 3.04(b) of the
Agreement) to each Class B Certificateholder of record on the related Record
Date (other than as provided in Section 12.02 of the Agreement) such Class B
Certificateholder's pro rata share of the amounts on deposit in the Principal
Funding Account or otherwise held by the Paying Agent that are allocated and
available on such date to pay principal of the Class B Certificates pursuant to
this Supplement up to a maximum amount on any such date equal to the Class B
Invested Amount on such date (unless there has been an optional repurchase of
the Series 2000-2 Certificateholders' Interest pursuant to Section 10.01 of the
Agreement, in which event the foregoing limitation will not apply).

                                       34
<PAGE>

                   (e) The distributions to be made pursuant to this Section
5.01 are subject to the provisions of Sections 2.06, 9.02, 10.01 and 12.02 of
the Agreement and Sections 8.01 and 8.02 of this Supplement.

                   (f) Except as provided in Section 12.02 of the Agreement with
respect to a final distribution, distributions to Series 2000-2
Certificateholders hereunder shall be made by check mailed to each Series 2000-2
Certificateholder at such Series 2000-2 Certificateholder's address appearing in
the Certificate Register without presentation or surrender of any Series 2000-2
Certificate or the making of any notation thereon; provided, however, that with
respect to Series 2000-2 Certificates registered in the name of a Clearing
Agency, such distributions shall be made to such Clearing Agency in immediately
available funds.

                   Section 14.02. Reports and Statements to Series 2000-2
Certificateholders.

                   (a) On each Distribution Date, the Paying Agent, on behalf of
the Trustee, shall forward to each Series 2000-2 Certificateholder a statement
substantially in the form of Exhibit C to this Supplement prepared by the
Servicer and delivered to the Paying Agent.

                   (b) Not later than each Determination Date, the Servicer
shall deliver to the Trustee, the Paying Agent, each Rating Agency and the
Collateral Interest Holder (i) a statement substantially in the form of Exhibit
C to this Supplement prepared by the Servicer and (ii) a certificate of a
Servicing Officer substantially in the form of Exhibit D.

                   (c) A copy of each statement or certificate provided pursuant
to paragraph (a) or (b) may be obtained by any Series 2000-2 Certificateholder
or any Certificate Owner thereof by a request in writing to the Servicer.

                   (d) On or before January 31 of each calendar year, beginning
with calendar year 2001, the Paying Agent, on behalf of the Trustee, shall
furnish or cause to be furnished to each Person who at any time during the
preceding calendar year was a Series 2000-2 Certificateholder, a statement
prepared by the Servicer containing the information which is required to be
contained in the statement to Series 2000-2 Certificateholders, as set forth in
paragraph (a) above aggregated for such calendar year or the applicable portion
thereof during which such Person was a Series 2000-2 Certificateholder,
together with other information as is required to be provided by an issuer of
indebtedness under the Code. Such obligation of the Servicer shall be deemed to
have been satisfied to the extent that substantially comparable information
shall be provided by the Paying Agent pursuant to any requirements of the Code
as from time to time in effect.

                                   ARTICLE XV

                                 Pay-Out Events

                   Section 15.01. Pay-Out Events. If any one of the following
events shall occur with respect to the Series 2000-2 Certificates:

                   (a) the occurrence of an Insolvency Event relating to any
Transferor or other holder of the Original Transferor Certificate;

                                       35
<PAGE>

                   (b) the Trust becomes an investment company within the
meaning of the Investment Company Act;

                   (c) failure on the part of any Transferor (i) to make any
payment or deposit required by the terms of the Agreement or this Supplement on
or before the date occurring five Business Days after the date such payment or
deposit is required to be made therein or herein or (ii) duly to observe or
perform any other covenants or agreements of the Transferors set forth in the
Agreement or this Supplement, which failure has a material adverse effect on the
Series 2000-2 Certificateholders and which continues unremedied for a period of
60 days after the date on which written notice of such failure, requiring the
same to be remedied, shall have been given to such Transferor by the Trustee, or
to the Transferors and the Trustee by any Holder of the Series 2000-2
Certificates;

                   (d) any representation or warranty made by any Transferor in
the Agreement or this Supplement, or any information contained in a computer
file or microfiche list required to be delivered by any Transferor pursuant to
Section 2.01 or subsection 2.08(f) of the Agreement shall prove to have been
incorrect in any material respect when made or when delivered, which continues
to be incorrect in any material respect for a period of 60 days after the date
on which written notice of such failure, requiring the same to be remedied,
shall have been given to such Transferor by the Trustee, or to such Transferor
and the Trustee by any Holder of the Series 2000-2 Certificates and as a result
of which the interests of the Series 2000-2 Certificateholders are materially
and adversely affected for such period; provided, however, that a Pay-Out Event
pursuant to this subsection 6.01(d) shall not be deemed to have occurred
hereunder if a Transferor has accepted reassignment of the related Receivable,
or all of such Receivables, if applicable, during such period (or such longer
period not to exceed an additional 60 days as the Trustee may specify) in
accordance with the provisions of the Agreement;

                   (e) a failure by a Transferor to convey Receivables in
Additional Accounts or Participation Interests to the Trust within five Business
Days after the day on which it is required to convey such Receivables or
Participation Interests pursuant to subsection 2.09(a) of the Agreement;

                   (f) any Servicer Default which would have an Adverse Effect
shall occur;

                   (g) the average Series Adjusted Portfolio Yield for any three
consecutive Monthly Periods is reduced to a rate which is less than the average
of the Base Rates for such period;

                   (h) the Class A Invested Amount and the Class B Invested
Amount shall not be paid in full on the Expected Final Payment Date; or

                   (i) a Transfer Restriction Event shall occur;

then, in the case of any event described in subparagraph (c), (d) or (f), after
the applicable grace period, if any, set forth in such subparagraphs, either the
Trustee or the Holders of Series 2000-2 Certificates evidencing more than 50% of
the aggregate unpaid principal amount of Series 2000-2 Certificates by notice
then given in writing to the Transferors and the Servicer (and to the Trustee if
given by the Series 2000-2 Certificateholders) may declare that a Pay-Out Event
has

                                       36
<PAGE>

occurred with respect to Series 2000-2 as of the date of such notice, and, in
the case of any event described in subparagraph (a), (b), (e), (g), (h) or (i),
a Pay-Out Event shall occur with respect to Series 2000-2 without any notice or
other action on the part of the Trustee or the Series 2000-2 Certificateholders
immediately upon the occurrence of such event.

                                  ARTICLE XVI

                    Optional Repurchase; Series Termination

                   Section 16.01. Optional Repurchase.

                   (a) On any day occurring on or after the date on which the
Invested Amount is reduced to 5% or less of the Initial Invested Amount, the
Transferors shall have the option to purchase the Series 2000-2
Certificateholders' Interest, at a purchase price equal to (i) if such day is a
Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if
such day is not a Distribution Date, the Reassignment Amount for the
Distribution Date following such day. If, on the date on which the Transferors
exercise such option, the long-term unsecured debt obligations of either
Transferor purchasing the Series 2000-2 Certificateholders' Interest is not
rated at least in the third highest rating category by the Rating Agency, such
Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an
Officer's Certificate which shall have attached to it the relevant fraudulent
conveyance statute, if any, and set forth the factual basis for a conclusion
that the exercise of such optional repurchase would not constitute a fraudulent
conveyance of such Transferor.

                   (b) The Transferors shall give the Servicer and the Trustee
at least 30 days prior written notice of the date on which the Transferors
intend to exercise such purchase option. Not later than 12:00 noon, New York
City time, on such day the Transferors shall deposit the Reassignment Amount
into the Collection Account in immediately available funds. Such purchase option
is subject to payment in full of the Reassignment Amount. Following the deposit
of the Reassignment Amount into the Collection Amount in accordance with the
foregoing, the Invested Amount for Series 2000-2 shall be reduced to zero and
the Series 2000-2 Certificateholders shall have no further interest in the
Receivables. The Reassignment Amount shall be distributed as set forth in
subsection 8.01(b).

                   Section 16.02. Series Termination.

                   (a) If, on the July 2007 Distribution Date, the Invested
Amount (after giving effect to all changes therein on such date) would be
greater than zero, the Servicer, on behalf of the Trustee, shall, within the
40-day period which begins on such Distribution Date, solicit bids for the sale
of Principal Receivables and the related Finance Charge Receivables (or
interests therein) in an amount equal to the Invested Amount at the close of
business on the last day of the Monthly Period preceding the Series 2000-2
Termination Date (after giving effect to all distributions required to be made
on the Series 2000-2 Termination Date, except pursuant to this Section 7.02).
Such bids shall require that such sale shall (subject to subsection 7.02(b))
occur on the Series 2000-2 Termination Date. The Transferors and the Collateral
Interest Holder shall be entitled to participate in, and to receive from the
Trustee a copy of each other bid submitted in connection with, such bidding
process. Each Transferor and its Affiliates shall be permitted to bid for the
Receivables and, in addition, shall have the right to match any bid and to
purchase the

                                       37
<PAGE>

Receivables at such matched price if such matched price shall be the highest bid
price received by the Trustee.

                   (b) The Servicer, on behalf of the Trustee, shall sell such
Receivables (or interests therein) on the Series 2000-2 Termination Date to the
bidder who made the highest cash purchase offer. The proceeds of any such sale
shall be treated as Collections on the Receivables allocated to the Series
2000-2 Certificateholders pursuant to the Agreement and this Supplement;
provided, however, that the Servicer shall determine conclusively the amount of
such proceeds which are allocable to Finance Charge Receivables and the amount
of such proceeds which are allocable to Principal Receivables. During the period
from the July 2007 Distribution Date to the Series 2000-2 Termination Date, the
Servicer shall continue to collect payments on the Receivables and allocate and
deposit such Collections in accordance with the provisions of the Agreement and
the Supplements.

                                  ARTICLE XVII

                              Final Distributions

                   Section 17.01. Sale of Receivables or Certificateholders'
Interest pursuant to Section 2.06 or 10.01 of the Agreement and Section 7.01 or
7.02 of this Supplement.

                   (a) (i)  The amount to be paid by the Transferors with
                   respect to Series 2000-2 in connection with a reassignment of
                   Receivables to the Transferors pursuant to Section 2.06 of
                   the Agreement shall equal the Reassignment Amount for the
                   first Distribution Date following the Monthly Period in which
                   the reassignment obligation arises under the Agreement.

                       (ii) The amount to be paid by the Transferors with
                   respect to Series 2000-2 in connection with a repurchase of
                   the Certificateholders' Interest pursuant to Section 10.01 of
                   the Agreement shall equal the sum of (x) the Reassignment
                   Amount for the Distribution Date of such repurchase and (y)
                   the sum of (A) the excess, if any, of (I) a price equivalent
                   to the average of bids quoted on the Record Date preceding
                   the date of repurchase or, if not a Business Day, on the next
                   succeeding Business Day by at least two recognized dealers
                   selected by the Trustee for the purchase by such dealers of a
                   security which is similar to the Class A Certificates with a
                   remaining maturity approximately equal to the remaining
                   maturity of the Class A Certificates and rated by each Rating
                   Agency in the rating category originally assigned to the
                   Class A Certificates over (II) the portion of the
                   Reassignment Amount attributable to the Class A Certificates
                   and (B) the excess, if any, of (I) a price equivalent to the
                   average of bids quoted on such Record Date, or if not a
                   Business Day, on the next succeeding Business Day by at least
                   two recognized dealers selected by the Trustee for the
                   purchase by such dealers of a security which is similar to
                   the Class B Certificates with a remaining maturity
                   approximately equal to the remaining maturity of the Class B
                   Certificates and rated by each Rating Agency in the rating
                   category originally assigned to the Class B Certificates over
                   (II) the portion of the Reassignment Amount attributable to
                   the Class B Certificates.

                                       38
<PAGE>

                   (b) With respect to the Reassignment Amount deposited into
the Collection Account pursuant to Section 7.01 or any amounts allocable to the
Series 2000-2 Certificateholders' Interest deposited into the Collection Account
pursuant to Section 7.02, the Trustee shall, in accordance with the written
direction of the Servicer, not later than 12:00 noon, New York City time, on the
related Distribution Date, make deposits or distributions of the following
amounts (in the priority set forth below and, in each case after giving effect
to any deposits and distributions otherwise to be made on such date) in
immediately available funds: (i) (x) the Class A Invested Amount on such
Distribution Date will be distributed to the Paying Agent for payment to the
Class A Certificateholders and (y) an amount equal to the sum of (A) Class A
Monthly Interest for such Distribution Date, (B) any Class A Monthly Interest
previously due but not distributed to the Class A Certificateholders on a prior
Distribution Date and (C) the amount of Class A Additional Interest, if any, for
such Distribution Date and any Class A Additional Interest previously due but
not distributed to the Class A Certificateholders on any prior Distribution
Date, will be distributed to the Paying Agent for payment to the Class A
Certificateholders, (ii) (x) the Class B Invested Amount on such Distribution
Date will be distributed to the Paying Agent for payment to the Class B
Certificateholders and (y) an amount equal to the sum of (A) Class B Monthly
Interest for such Distribution Date, (B) any Class B Monthly Interest previously
due but not distributed to the Class B Certificateholders on a prior
Distribution Date and (C) the amount of Class B Additional Interest, if any, for
such Distribution Date and any Class B Additional Interest previously due but
not distributed to the Class B Certificateholders on any prior Distribution
Date, will be distributed to the Paying Agent for payment to the Class B
Certificateholders and (iii) the balance, if any, will be distributed to the
Collateral Interest Holder for application in accordance with the Loan
Agreement.

                   (c) Notwithstanding anything to the contrary in this
Supplement or the Agreement, all amounts distributed to the Paying Agent
pursuant to subsection 8.01(b) for payment to the Series 2000-2
Certificateholders shall be deemed distributed in full to the Series 2000-2
Certificateholders on the date on which such funds are distributed to the Paying
Agent pursuant to this Section and shall be deemed to be a final distribution
pursuant to Section 12.02 of the Agreement.

                   Section 17.02. Distribution of Proceeds of Sale, Disposition
or Liquidation of the Receivables pursuant to Section 9.01 of the Agreement.

                   (a) Not later than 12:00 noon, New York City time, on the
Distribution Date following the date on which the Insolvency Proceeds are
deposited into the Collection Account pursuant to subsection 9.01(b) of the
Agreement, the Trustee shall in accordance with the written direction of the
Servicer (in the following priority and, in each case, after giving effect to
any deposits and distributions otherwise to be made on such Distribution Date)
(i) deduct an amount equal to the Class A Invested Amount on such Distribution
Date from the portion of the Insolvency Proceeds allocated to Series 2000-2
Allocable Principal Collections and distribute such amount to the Paying Agent
for payment to the Class A Certificateholders, provided that the amount of such
distribution shall not exceed the product of (x) the portion of the Insolvency
Proceeds allocated to Series 2000-2 Allocable Principal Collections and (y) the
Principal Allocation Percentage with respect to the related Monthly Period, (ii)
deduct an amount equal to the Class B Invested Amount on such Distribution Date
from the portion of the Insolvency Proceeds allocated to Series 2000-2 Allocable
Principal Collections and distribute such amount

                                       39
<PAGE>

to the Paying Agent for payment to the Class B Certificateholders, provided that
the amount of such distribution shall not exceed (x) the product of (A) the
portion of such Insolvency Proceeds allocated to Series 2000-2 Allocable
Principal Collections and (B) the Principal Allocation Percentage with respect
to the related Monthly Period minus (y) the amount distributed to the Paying
Agent pursuant to clause (i) of this sentence and (iii) deduct an amount equal
to the Collateral Invested Amount, if any, on such Distribution Date from the
portion of the Insolvency Proceeds allocated to Series 2000-2 Allocable
Principal Collections and distribute such amount to the Collateral Interest
Holder for application in accordance with the Loan Agreement, provided that the
amount of such distribution shall not exceed (x) the product of (1) the portion
of the Insolvency Proceeds allocated to Series 2000-2 Allocable Principal
Collections and (2) the Principal Allocation Percentage with respect to such
Monthly Period minus (y) the amounts distributed to the Paying Agent pursuant to
clauses (i) and (ii) of this sentence. To the extent that the product of (A) the
portion of the Insolvency Proceeds allocated to Series 2000-2 Allocable
Principal Collections and (B) the Principal Allocation Percentage with respect
to the related Monthly Period exceeds the aggregate amounts distributed to the
Paying Agent pursuant to the preceding sentence, the excess shall be allocated
to the Transferor's Interest and shall be released to the Holders of the
Transferor Certificates on such Distribution Date.

                   (b) Not later than 12:00 noon, New York City time, on such
Distribution Date, the Trustee shall in accordance with the written direction of
the Servicer (in the following priority and, in each case, after giving effect
to any deposits and distributions otherwise to be made on such Distribution
Date) (i) deduct an amount equal to the sum of (w) Class A Monthly Interest for
such Distribution Date, (x) any Class A Monthly Interest previously due but not
distributed to the Class A Certificateholders on a prior Distribution Date and
(y) the amount of Class A Additional Interest, if any, for such Distribution
Date and any Class A Additional Interest previously due but not distributed to
the Class A Certificateholders on a prior Distribution Date from the portion of
the Insolvency Proceeds allocated to Collections of Finance Charge Receivables
and distribute such amount to the Paying Agent for payment to the Class A
Certificateholders, provided that the amount of such distribution shall not
exceed the product of (x) the portion of the Insolvency Proceeds allocated to
Series 2000-2 Allocable Finance Charge Collections, (y) the Floating Allocation
Percentage with respect to the related Monthly Period and (z) the Class A
Floating Percentage with respect to such Monthly Period and (ii) deduct an
amount equal to the sum of (w) Class B Monthly Interest for such Distribution
Date, (x) Class B Monthly Interest previously due but not distributed to the
Class B Certificateholders on a prior Distribution Date and (y) the amount of
Class B Additional Interest, if any, for such Distribution Date and any Class B
Additional Interest previously due but not distributed to the Class B
Certificateholders on a prior Distribution Date from the portion of the
Insolvency Proceeds allocated to Series 2000-2 Allocable Finance Charge
Collections and distribute such amount to the Paying Agent for payment to the
Class B Certificateholders, provided that the amount of such distribution shall
not exceed the product of (x) the portion of the Insolvency Proceeds allocated
to Series 2000-2 Allocable Finance Charge Collections, (y) the Floating
Allocation Percentage with respect to the related Monthly Period and (z) the
Class B Floating Percentage with respect to such Monthly Period. To the extent
that the product of (A) the portion of the Insolvency Proceeds allocated to
Series 2000-2 Allocable Finance Charge Collections and (B) the Floating
Allocation Percentage with respect to the related Monthly Period exceeds the
aggregate amount distributed to the Paying Agent pursuant to the preceding

                                       40
<PAGE>

sentence, the excess shall be released to the Collateral Interest Holder for
application by the Collateral Interest Holder in accordance with the Loan
Agreement.

                   (c) Notwithstanding anything to the contrary in this
Supplement or the Agreement, all amounts distributed to the Paying Agent
pursuant to this Section for payment to the Series 2000-2 Certificateholders
shall be distributed in full to the Series 2000-2 Certificateholders on the date
on which funds are distributed to the Paying Agent pursuant to this Section and
shall be deemed to be a final distribution pursuant to Section 12.02 of the
Agreement.

                                 ARTICLE XVIII

                            Miscellaneous Provisions

                   Section 18.01. Ratification of Agreement. As supplemented by
this Supplement, the Agreement is in all respects ratified and confirmed and the
Agreement as so supplemented by this Supplement shall be read, taken and
construed as one and the same instrument.

                   Section 18.02. Counterparts. This Supplement 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.

                   Section 18.03. Governing Law. THIS SUPPLEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, 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.

                    [The signature page follows this page.]

                                       41
<PAGE>

                  IN WITNESS WHEREOF, the undersigned have caused this
Supplement to be duly executed and delivered by their respective duly authorized
officers on the day and year first above written.

                                        AMERICAN EXPRESS RECEIVABLES
                                         FINANCING CORPORATION II,
                                         as a Transferor,

                                        By:
                                             -----------------------------------
                                             Name:  Leslie R. Scharfstein
                                             Title: President

                                        AMERICAN EXPRESS CENTURION BANK,
                                         as a Transferor,

                                        By:
                                             -----------------------------------
                                             Name:  Maureen Ryan
                                             Title: Assistant Treasurer

                                        AMERICAN EXPRESS TRAVEL RELATED
                                         SERVICES COMPANY, INC.,
                                         as the Servicer,

                                        By:
                                             -----------------------------------
                                             Name:  Jay B. Stevelman
                                             Title: Senior Vice President and
                                                     Treasurer

                                        THE BANK OF NEW YORK,
                                         as Trustee,

                                        By:
                                             -----------------------------------
                                             Name:  Erwin Soriano
                                             Title: Assistant Treasurer

                  [Signature page - Series 2000-2 Supplement]

                                       42
<PAGE>

                       FORM OF CLASS A CERTIFICATE                  EXHIBIT A-1

REGISTERED                                                       $           5/

No. R-                                                          CUSIP No.  [  ]
--------------------

                  Unless this Class A Certificate is presented by an authorized
representative of The Depository Trust Company, a New York corporation ("DTC"),
to American Express Centurion Bank, American Express Receivables Financing
Corporation II or their agent for registration of transfer, exchange or payment,
and any certificate issued is registered in the name of Cede & Co. or in such
other name as is requested by an authorized representative of DTC (and any
payment is made to Cede & Co. or to such other entity as is requested by an
authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered
owner hereof, Cede & Co., has an interest herein.

                  AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST

                                  SERIES 2000-2

                 CLASS A FLOATING RATE ASSET BACKED CERTIFICATE

                          Expected Final Payment Date:
                       The February 2005 Distribution Date

                  Each $1,000 minimum denomination represents a
                        1/412,500 ths undivided interest
                                in Class A of the

           AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST, SERIES 2000-2

Evidencing an undivided interest in certain assets of a trust, the corpus of
which consists primarily of an interest in receivables generated from time to
time in the ordinary course of business in a portfolio of credit and charge
accounts serviced by

             AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC.,

and other assets and interests constituting Trust Assets under the Pooling and
Servicing Agreement referred to below.

--------

5/ Denominations of $1,000 and integral multiples of $1,000 in excess thereof.
<PAGE>

      (Not an interest in or obligation of American Express Travel Related
   Services Company, Inc., American Express Centurion Bank, American Express
  Receivables Financing Corporation II or any of their respective affiliates)

This certifies that CEDE & CO. (the "Class A Certificateholder") is the
registered owner of a fractional undivided interest in certain assets of a trust
(the "Trust") created pursuant to the Pooling and Servicing Agreement, dated as
of May 16, 1996 (as amended and supplemented, the "Agreement"), as supplemented
by the Series 2000-2 Supplement dated as of February 16, 2000 (as amended and
supplemented, the "Supplement"), among American Express Centurion Bank and
American Express Receivables Financing Corporation II, as transferors (together,
the "Transferors"), American Express Travel Related Services Company, Inc., as
servicer, and The Bank of New York, a New York banking corporation, as trustee
(the "Trustee"). The corpus of the Trust consists of (i) the Transferors'
ownership interest in a portfolio of receivables (the "Receivables") existing in
credit and charge accounts identified under the Agreement from time to time (the
"Accounts"), (ii) all Receivables generated under the Accounts from time to time
thereafter, (iii) funds collected or to be collected from cardmembers in respect
of the Receivables, (iv) all funds which are from time to time on deposit in the
Collection Account, the Special Funding Account and any other Series Accounts
and (v) all other assets and interests constituting the Trust. The Holder of
this Certificate is entitled to the benefits of the subordination of the Class B
Certificates and the Collateral Interest to the extent provided in the
Supplement. Although a summary of certain provisions of the Agreement and the
Supplement is set forth below and in the Summary of Terms and Conditions
attached hereto and made a part hereof, this Class A Certificate does not
purport to summarize the Agreement and the Supplement and reference is made to
the Agreement and the Supplement for information with respect to the interests,
rights, benefits, obligations, proceeds and duties evidenced hereby and the
rights, duties and obligations of the Trustee. A copy of the Agreement and the
Supplement (without schedules) may be requested from the Trustee by writing to
the Trustee at the Corporate Trust Office. To the extent not defined herein, the
capitalized terms used herein have the meanings ascribed to them in the
Agreement or the Supplement, as applicable.

                  This Class A Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement and the Supplement, to which
Agreement and Supplement, each as amended and supplemented from time to time,
the Class A Certificateholder by virtue of the acceptance hereof assents and is
bound.

                  It is the intent of the Transferors and the Class A
Certificateholder that, for federal, state and local income and franchise tax
purposes, the Class A Certificates will qualify as indebtedness of the
Transferors secured by the Receivables. The Class A Certificateholder, by the
acceptance of this Class A Certificate, agrees to treat this Class A Certificate
for federal, state and local income and franchise tax purposes as debt of the
Transferors.

                  In general, payments of principal with respect to the Class A
Certificates are limited to the Class A Invested Amount, which may be less than
the unpaid principal balance of the Class A Certificates. The Expected Final
Payment Date is the February 2005 Distribution Date, but principal with respect
to the Class A Certificates may be paid earlier or later under certain
circumstances described in the Agreement and the Supplement. If for one or more

                                    A-1-2

<PAGE>

months during the Controlled Accumulation Period there are not sufficient funds
to pay the Controlled Deposit Amount, then to the extent that excess funds are
not available on subsequent Distribution Dates with respect to the Controlled
Accumulation Period to make up for such shortfalls, the final payment of
principal of the Class A Certificates will occur later than the Expected Final
Payment Date.

                  Unless the certificate of authentication hereon has been
executed by or on behalf of the Trustee, by manual signature, this Class A
Certificate shall not be entitled to any benefit under the Agreement or the
Supplement or be valid for any purpose.

                  IN WITNESS WHEREOF, the Transferors have caused this Class A
Certificate to be duly executed.

                                        AMERICAN EXPRESS CENTURION BANK

                                        By:
                                             ----------------------------------
                                             Name:
                                             Title:

                                        AMERICAN EXPRESS RECEIVABLES FINANCING
                                          CORPORATION II

                                        By:
                                             ----------------------------------
                                             Name:
                                             Title:

Dated: February 16, 2000

                                    A-1-3

<PAGE>

                     TRUSTEE'S CERTIFICATE OF AUTHENTICATION

This is one of the American Express Credit Account Master Trust Series 2000-2
Class A Certificates described in the within-mentioned Agreement and Supplement.

                                          THE BANK OF NEW YORK,
                                          as Trustee,

                                        By:
                                             ----------------------------------
                                             Authorized Officer

                                        or

                                        By:
                                             ----------------------------------
                                             as Authenticating Agent
                                             for the Trustee,

                                        By:
                                             ----------------------------------
                                             Authorized Officer

                                    A-1-4

<PAGE>

                  AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST

                                  SERIES 2000-2

                 CLASS A FLOATING RATE ASSET BACKED CERTIFICATE

                         Summary of Terms and Conditions

                  The Receivables consist of Principal Receivables which arise
generally from the purchase of goods and services and amounts advanced to
cardmembers as cash advances and Finance Charge Receivables. This Class A
Certificate is one of a Series of Certificates entitled American Express Credit
Account Master Trust, Series 2000-2 (the "Series 2000-2 Certificates"), and one
of a class thereof entitled Class A Series 2000-2 Floating Rate Asset Backed
Certificates, (the "Class A Certificates"), each of which represents a
fractional, undivided interest in certain assets of the Trust. The assets of the
Trust are allocated in part to the investor certificateholders of all
outstanding Series (the "Certificateholders' Interest") with the remainder
allocated to the Holders of the Transferor Certificates. The aggregate interest
represented by the Class A Certificates at any time in the Principal Receivables
in the Trust shall not exceed an amount equal to the Class A Invested Amount at
such time. The Class A Initial Invested Amount is $412,500,000. The Class A
Invested Amount on any date will be an amount equal to (a) the Class A Initial
Invested Amount, minus (b) the aggregate amount of principal payments made to
the Class A Certificateholder on or prior to such date, minus (c) the excess, if
any, of the aggregate amount of Class A Investor Charge-Offs for all prior
Distribution Dates over Class A Investor Charge-Offs reimbursed pursuant to
subsection 4.07(b) of the Supplement prior to such date.

                  Subject to the terms and conditions of the Agreement, the
Transferors may, from time to time, direct the Trustee, on behalf of the Trust,
to issue one or more new Series of Investor Certificates, which will represent
fractional, undivided interests in certain of the Trust Assets.

                  On each Distribution Date, the Paying Agent shall distribute
to each Class A Certificateholder of record on the last day of the preceding
calendar month (each a "Record Date") such Class A Certificateholder's pro rata
share of such amounts (including amounts on deposit in the Collection Account)
as are payable to the Class A Certificateholder pursuant to the Agreement and
the Supplement. Distributions with respect to this Class A Certificate will be
made by the Paying Agent by check mailed to the address of the Class A
Certificateholder of record appearing in the Certificate Register without the
presentation or surrender of this Class A Certificate or the making of any
notation thereon (except for the final distribution in respect of this Class A
Certificate) except that with respect to Class A Certificates registered in the
name of Cede & Co., the nominee for The Depository Trust Company, distributions
will be made in the form of immediately available funds. Final payment of this
Class A Certificate will be made only upon presentation and surrender of this
Class A Certificate at the office or agency specified in the notice of final
distribution delivered by the Trustee to the Series 2000-2 Certificateholders in
accordance with the Agreement and the Supplement.

                                    A-1-5

<PAGE>

                  On any day occurring on or after the day on which the Invested
Amount is reduced to 5% or less of the Initial Invested Amount, the Transferors
have the option to repurchase the Series 2000-2 Certificateholders' Interest in
the Trust. The repurchase price will be equal to (a) if such day is a
Distribution Date, the Reassignment Amount for such Distribution Date or (b) if
such day is not a Distribution Date, the Reassignment Amount for the
Distribution Date following such day. Following the deposit of the Reassignment
Amount in the Collection Account, Series 2000-2 Certificateholders will not have
any interest in the Receivables and the Series 2000-2 Certificates will
represent only the right to receive such Reassignment Amount.

                  This Class A Certificate does not represent an obligation of,
or an interest in, the Transferors or the Servicer or any affiliate of any of
them and is not insured or guaranteed by the Federal Deposit Insurance
Corporation or any other governmental agency or instrumentality. This Class A
Certificate is limited in right of payment to certain Collections with respect
to the Receivables (and certain other amounts), all as more specifically set
forth hereinabove and in the Agreement and the Supplement.

                  The Class A Certificates are issuable only in minimum
denominations of $1,000 and integral multiples of $1,000. The transfer of this
Class A Certificate shall be registered in the Certificate Register upon
surrender of this Class A Certificate for registration of transfer at any office
or agency maintained by the Transfer Agent and Registrar accompanied by a
written instrument of transfer, in a form satisfactory to the Trustee or the
Transfer Agent and Registrar, duly executed by the Class A Certificateholder or
such Class A Certificateholder's attorney, and duly authorized in writing with
such signature guaranteed, and thereupon one or more new Class A Certificates of
authorized denominations and for the same aggregate fractional undivided
interest will be issued to the designated transferee or transferees.

                  As provided in the Agreement and subject to certain
limitations therein set forth, Class A Certificates are exchangeable for new
Class A Certificates evidencing like aggregate fractional, undivided interests
as requested by the Class A Certificateholder surrendering such Class A
Certificates. No service charge may be imposed for any such exchange but the
Servicer or Transfer Agent and Registrar may require payment of a sum sufficient
to cover any tax or other governmental charge that may be imposed in connection
therewith.

                  The Servicer, the Trustee, the Paying Agent and the Transfer
Agent and Registrar and any agent of any of them, may treat the person in whose
name this Class A Certificate is registered as the owner hereof for all
purposes, and neither the Servicer nor the Trustee, the Paying Agent, the
Transfer Agent and Registrar, nor any agent of any of them, shall be affected by
notice to the contrary except in certain circumstances described in the
Agreement.

                  THIS CLASS A CERTIFICATE SHALL BE CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF NEW YORK, 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.

                                    A-1-6

<PAGE>

                                   ASSIGNMENT

Social Security or other identifying number of assignee
                                                        ------------------------

                  FOR VALUE RECEIVED, the undersigned hereby sells, assigns and
transfers unto
               ------------------------------------------------------------
                  (name and address of assignee)

the within certificate and all rights thereunder, and hereby irrevocably
constitutes and appoints ______________________________, attorney, to transfer
said certificate on the books kept for registration thereof, with full power of
substitution in the premises.

Dated: ______________                              ________________________ 6/

                                                   Signature Guaranteed:

                                                   -----------------------

--------------

6 / NOTE: The signature to this assignment must correspond with the name of the
registered owner as it appears on the face of the within Certificate in every
particular, without alteration, enlargement or any change whatsoever.

                                    A-1-7

<PAGE>

                           FORM OF CLASS B CERTIFICATE              EXHIBIT A-2

           THIS CERTIFICATE MAY NOT BE ACQUIRED BY OR FOR THE ACCOUNT
                      OF A BENEFIT PLAN (AS DEFINED BELOW)

REGISTERED                                                      $             7/
                                                                 --------------
No. R-                                                          CUSIP No.  [   ]
       -------------

                  Unless this Class B Certificate is presented by an authorized
representative of The Depository Trust Company, a New York corporation ("DTC"),
to American Express Centurion Bank, American Express Receivables Financing
Corporation II or their agent for registration of transfer, exchange or payment,
and any certificate issued is registered in the name of Cede & Co. or in such
other name as is requested by an authorized representative of DTC (and any
payment is made to Cede & Co. or to such other entity as is requested by an
authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered
owner hereof, Cede & Co., has an interest herein.

                  AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST

                                  SERIES 2000-2

                 CLASS B FLOATING RATE ASSET BACKED CERTIFICATE

                          Expected Final Payment Date:
                       The February 2005 Distribution Date

                  Each $1,000 minimum denomination represents a
                         1/40,000 ths undivided interest
                                in Class B of the

           AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST, SERIES 2000-2

Evidencing an undivided interest in certain assets of a trust, the corpus of
which consists primarily of an interest in receivables generated from time to
time in the ordinary course of business in a portfolio of credit and charge
accounts serviced by

           AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC.,

and other assets and interests constituting Trust Assets under the Pooling and
Servicing Agreement referred to below.

--------

7 / Denominations of $1,000 and integral multiples of $1,000 in excess thereof.

<PAGE>

          (Not an interest in or obligation of American Express Travel
   Related Services Company, Inc., American Express Centurion Bank, American
    Express Receivables Financing Corporation II or any of their respective
                                  affiliates)

This certifies that CEDE & CO. (the "Class B Certificateholder") is the
registered owner of a fractional, undivided interest in certain assets of a
trust (the "Trust") created pursuant to the Pooling and Servicing Agreement,
dated as of May 16, 1996 (as amended and supplemented, the "Agreement"), as
supplemented by the Series 2000-2 Supplement dated as of February 16, 2000 (as
amended and supplemented, the "Supplement"), among American Express Centurion
Bank and American Express Receivables Financing Corporation II, as transferors
(together, the "Transferors"), American Express Travel Related Services Company,
Inc., as servicer, and The Bank of New York, a New York banking corporation, as
trustee (the "Trustee"). The corpus of the Trust consists of (i) the
Transferors' ownership interest in a portfolio of receivables (the
"Receivables") existing in credit and charge accounts identified under the
Agreement from time to time (the "Accounts"), (ii) all Receivables generated
under the Accounts from time to time thereafter, (iii) funds collected or to be
collected from cardmembers in respect of the Receivables, (iv) all funds which
are from time to time on deposit in the Collection Account, the Special Funding
Account, and any other Series Accounts and (v) all other assets and interests
constituting the Trust. Although a summary of certain provisions of the
Agreement and the Supplement is set forth below and in the Summary of Terms and
Conditions attached hereto and made a part hereof, this Class B Certificate does
not purport to summarize the Agreement and the Supplement and reference is made
to the Agreement and the Supplement for information with respect to the
interests, rights, benefits, obligations, proceeds and duties evidenced hereby
and the rights, duties and obligations of the Trustee. A copy of the Agreement
and the Supplement (without schedules) may be requested from the Trustee by
writing to the Trustee at the Corporate Trust Office. To the extent not defined
herein, the capitalized terms used herein have the meanings ascribed to them in
the Agreement or the Supplement, as applicable.

                  This Class B Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement and the Supplement, to which
Agreement and Supplement, each as amended and supplemented from time to time,
the Class B Certificateholder by virtue of the acceptance hereof assents and is
bound.

                  This Class B Certificate may not be acquired by or for the
account of any employee benefit plan, trust or account, including an individual
retirement account, that is subject to the Employee Retirement Income Security
Act of 1974, as amended, or that is described in Section 4975(e)(1) of the
Internal Revenue Code of 1986, as amended, or an entity whose underlying assets
include plan assets by reason of a plan's investment in such entity (a "Benefit
Plan"). By accepting and holding this Class B Certificate, the Holder hereof
shall be deemed to have represented and warranted that it is not a Benefit Plan.
By acquiring any interest in this Class B Certificate , the applicable
Certificate Owner or Owners shall be deemed to have represented and warranted
that it or they are not Benefit Plans.

                  THIS CLASS B CERTIFICATE IS SUBORDINATED TO THE EXTENT
NECESSARY TO FUND PAYMENTS ON THE CLASS A CERTIFICATES TO THE EXTENT SPECIFIED
IN THE SUPPLEMENT.

                                    A-2-2

<PAGE>

                  It is the intent of the Transferors and the Class B
Certificateholder that, for federal, state and local income and franchise tax
purposes, the Class B Certificates will qualify as indebtedness of the
Transferors secured by the Receivables. The Class B Certificateholder, by the
acceptance of this Class B Certificate, agrees to treat this Class B Certificate
for federal, state and local income and franchise tax purposes as debt of the
Transferors.

                  In general, payments of principal with respect to the Class B
Certificates are limited to the Class B Invested Amount, which may be less than
the unpaid principal balance of the Class B Certificates. The Expected Final
Payment Date is the February 2005 Distribution Date, but principal with respect
to the Class B Certificates may be paid earlier or later under certain
circumstances described in the Agreement and the Supplement. If for one or more
months during the Controlled Accumulation Period there are not sufficient funds
to pay the Controlled Deposit Amount, then to the extent that excess funds are
not available on subsequent Distribution Dates with respect to the Controlled
Accumulation Period to make up for such shortfalls, the final payment of
principal of the Class B Certificates will occur later than the Expected Final
Payment Date.

                  Unless the certificate of authentication hereon has been
executed by or on behalf of the Trustee, by manual signature, this Class B
Certificate shall not be entitled to any benefit under the Agreement or the
Supplement or be valid for any purpose.

                  IN WITNESS WHEREOF, the Transferors have caused this Class B
Certificate to be duly executed.

                                        AMERICAN EXPRESS CENTURION BANK

                                        By:
                                             ----------------------------------
                                             Name:
                                             Title:

                                        AMERICAN EXPRESS RECEIVABLES
                                          FINANCING CORPORATION

                                        By:
                                             ----------------------------------
                                             Name:
                                             Title:

                                    A-2-3

<PAGE>

                     TRUSTEE'S CERTIFICATE OF AUTHENTICATION

                  This is one of the American Express Credit Account Master
Trust Series 2000-2 Class B Certificates described in the within mentioned
Agreement and Supplement.

                                        THE BANK OF NEW YORK,
                                         as Trustee

                                        By:
                                             ----------------------------------
                                             Authorized Signatory

                                    A-2-4

<PAGE>

                  AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST

                                  SERIES 2000-2

                 CLASS B FLOATING RATE ASSET BACKED CERTIFICATE

                         Summary of Terms and Conditions

                  The Receivables consist of Principal Receivables which arise
generally from the purchase of goods and services and amounts advanced to
cardmembers as cash advances and Finance Charge Receivables. This Class B
Certificate is one of a Series of Certificates entitled American Express Credit
Account Master Trust, Series 2000-2 (the "Series 2000-2 Certificates"), and one
of a class thereof entitled Class B Series 2000-2 Floating Rate Asset Backed
Certificates, (the "Class B Certificates"), each of which represents a
fractional, undivided interest in certain assets of the Trust. The assets of the
Trust are allocated in part to the investor certificateholders of all
outstanding Series (the "Certificateholders' Interest") with the remainder
allocated to the Holders of the Transferor Certificates. The aggregate interest
represented by the Class B Certificates at any time in the Principal Receivables
in the Trust shall not exceed an amount equal to the Class B Invested Amount at
such time. The Class B Initial Invested Amount is $40,000,000. The Class B
Invested Amount on any date will be an amount equal to (a) the Class B Initial
Invested Amount, minus (b) the aggregate amount of principal payments made to
the Class B Certificateholder on or prior to such date, minus (c) the excess, if
any, of the aggregate amount of Class B Investor Charge-Offs for all prior
Distribution Dates over Class B Investor Charge-Offs reimbursed, minus (d) the
amount of Reallocated Principal Collections allocated on all prior Distribution
Dates pursuant to subsection 4.08(a) of the Supplement (excluding any
Reallocated Principal Collections that have resulted in a reduction in the
Collateral Invested Amount pursuant to Section 4.08), minus (e) an amount equal
to the amount by which the Class B Invested Amount has been reduced to cover the
Class A Investor Default Amount on all prior Distribution Dates, and plus (f)
the amount of Excess Spread and Excess Finance Charge Collections allocated to
Series 2000-2 and applied on all prior Distribution Dates for the purpose of
reimbursing amounts deducted pursuant to the foregoing clauses (c), (d) and (e);
provided, however, that the Class B Invested Amount may not be reduced below
zero.

                  Subject to the terms and conditions of the Agreement, the
Transferors may, from time to time, direct the Trustee, on behalf of the Trust,
to issue one or more new Series of Investor Certificates, which will represent
fractional, undivided interests in certain of the Trust Assets.

                  On each Distribution Date, the Paying Agent shall distribute
to each Class B Certificateholder of record on the last day of the preceding
calendar month (each a "Record Date") such Class B Certificateholder's pro rata
share of such amounts (including amounts on deposit in the Collection Account)
as are payable to the Class B Certificateholder pursuant to the Agreement and
the Supplement. Distributions with respect to this Class B Certificate will be
made by the Paying Agent by check mailed to the address of the Class B
Certificateholder of record appearing in the Certificate Register without the
presentation or surrender of this Class B Certificate or the making of any
notation thereon (except for the final distribution in respect of

                                    A-2-5

<PAGE>

this Class B Certificate) except that with respect to Class B Certificates
registered in the name of Cede & Co., the nominee for The Depository Trust
Company, distributions will be made in the form of immediately available funds.
Final payment of this Class B Certificate will be made only upon presentation
and surrender of this Class B Certificate at the office or agency specified in
the notice of final distribution delivered by the Trustee to the Series 2000-2
Certificateholders in accordance with the Agreement and the Supplement.

                  On any day occurring on or after the day on which the Invested
Amount is reduced to 5% or less of the Initial Invested Amount, the Transferors
have the option to repurchase the Series 2000-2 Certificateholders' Interest in
the Trust. The repurchase price will be equal to (a) if such day is a
Distribution Date, the Reassignment Amount for such Distribution Date or (b) if
such day is not a Distribution Date, the Reassignment Amount for the
Distribution Date next following such day. Following the deposit of the
Reassignment Amount in the Collection Account, Series 2000-2 Certificateholders
will not have any interest in the Receivables and the Series 2000-2 Certificates
will represent only the right to receive such Reassignment Amount.

                  THIS CLASS B CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF,
OR AN INTEREST IN, THE TRANSFERORS OR THE SERVICER OR ANY AFFILIATE OF ANY OF
THEM AND IS NOT INSURED OR GUARANTEED BY THE FEDERAL DEPOSIT INSURANCE
CORPORATION OR ANY OTHER GOVERNMENTAL AGENCY OR INSTRUMENTALITY. THIS CLASS B
CERTIFICATE IS LIMITED IN RIGHT OF PAYMENT TO CERTAIN COLLECTIONS WITH RESPECT
TO THE RECEIVABLES (AND CERTAIN OTHER AMOUNTS), ALL AS MORE SPECIFICALLY SET
FORTH HEREINABOVE AND IN THE AGREEMENT AND THE SUPPLEMENT.

                  The Class B Certificates are issuable only in minimum
denominations of $1,000 and integral multiples of $1,000. The transfer of this
Class B Certificate shall be registered in the Certificate Register upon
surrender of this Class B Certificate for registration of transfer at any office
or agency maintained by the Transfer Agent and Registrar accompanied by a
written instrument of transfer, in a form satisfactory to the Trustee or the
Transfer Agent and Registrar, duly executed by the Class B Certificateholder or
such Class B Certificateholder's attorney, and duly authorized in writing with
such signature guaranteed, and thereupon one or more new Class B Certificates of
authorized denominations and for the same aggregate fractional undivided
interest will be issued to the designated transferee or transferees.

                  As provided in the Agreement and subject to certain
limitations therein set forth, Class B Certificates are exchangeable for new
Class B Certificates evidencing like aggregate fractional undivided interests as
requested by the Class B Certificateholder surrendering such Class B
Certificates. No service charge may be imposed for any such exchange but the
Servicer or Transfer Agent and Registrar may require payment of a sum sufficient
to cover any tax or other governmental charge that may be imposed in connection
therewith.

                  The Servicer, the Trustee, the Paying Agent and the Transfer
Agent and Registrar and any agent of any of them, may treat the person in whose
name this Class B Certificate is registered as the owner hereof for all
purposes, and neither the Servicer nor the Trustee, the Paying Agent, the
Transfer Agent and Registrar, nor any agent of any of them, shall be affected by
notice to the contrary except in certain circumstances described in the
Agreement.

                                    A-2-6

<PAGE>

                  THIS CLASS B CERTIFICATE SHALL BE CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF NEW YORK, 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.

                                    A-2-7

<PAGE>

                                   ASSIGNMENT

Social Security or other identifying number of assignee
                                                        -----------------------

                  FOR VALUE RECEIVED, the undersigned hereby sells, assigns
and transfers unto
                   --------------------------------------------------
                      (name and address of assignee)

the within certificate and all rights thereunder, and hereby irrevocably
constitutes and appoints ___________, attorney, to transfer said certificate on
the books kept for registration thereof, with full power of substitution in the
premises.

Dated: ______________                               ________________________8/

                                                    Signature Guaranteed:

                                                    ------------------------

--------

8 /NOTE: The signature to this assignment must correspond with the name of the
registered owner as it appears on the face of the within Certificate in every
particular, without alteration, enlargement or any change whatsoever.

                                    A-2-8

<PAGE>

                                                                       EXHIBIT B

                    FORM OF MONTHLY PAYMENT INSTRUCTIONS AND
                           NOTIFICATION TO THE TRUSTEE

                            ------------------------

                  AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST

                                  SERIES 2000-2

                            ------------------------

                  The undersigned, a duly authorized representative of American
Express Travel Related Services Company, Inc. ("TRS"), as Servicer pursuant to
the Pooling and Servicing Agreement dated as of May 16, 1996 (as amended and
supplemented, the "Pooling and Servicing Agreement"), among TRS, American
Express Centurion Bank and American Express Receivables Financing Corporation
II, as transferors (together, the "Transferors") and The Bank of New York, as
trustee (the "Trustee"), does hereby certify as follows:

                  1. Capitalized terms used in this Certificate have their
respective meanings set forth in the Pooling and Servicing Agreement or the
Series 2000-2 Supplement dated as of February 16, 2000, among TRS, the
Transferors and the Trustee (as amended and supplemented, the "Supplement"), as
applicable.

                  2. TRS is the Servicer.

                  3. The undersigned is a Servicing Officer.

I.       INSTRUCTION TO MAKE A WITHDRAWAL

                  Pursuant to subsections 4.05(a), (b) and (c), the Servicer
does hereby instruct the Trustee (i) to make withdrawals from the Collection
Account on __________, ___________, which date is a Distribution Date under the
Supplement, in the aggregate amounts (equal to the Class A Available Funds,
Class B Available Funds and Collateral Available Funds, respectively) as set
forth below in respect of the following amounts and (ii) to apply the proceeds
of such withdrawals in accordance with subsections 4.05(a), (b) and (c):

                  With respect to the Class A Certificates,

                  A)   Pursuant to subsection 4.05(a)(i):

                       (1)      Interest at the Class A Certificate
                                Rate for the related Interest Period
                                on the Class A Invested Amount......... $ ______

<PAGE>

                       (2)      Class A Monthly Interest previously
                                due but not paid....................... $ ______

                       (3)      Class A Additional Interest and
                                any Class A Additional Interest
                                due but not paid....................... $ ______

                  B)   Pursuant to subsection 4.05(a)(ii):

                       (1)      The Class A Servicing Fee for the
                                preceding Monthly Period, if
                                applicable............................. $ ______

                       (2)      Accrued and unpaid Class A
                                Servicing Fees, if applicable.......... $ ______

                  C)   Pursuant to subsection 4.05(a)(iii):

                       (1)      Class A Investor Default Amount
                                for the preceding Monthly Period....... $ ______

                  With respect to the Class B Certificates,

                  A)   Pursuant to subsection 4.05(b)(i):

                       (1)      Interest at the Class B
                                Certificate Rate for the preceding
                                Monthly Period on the Class B
                                Invested Amount....................... $ ______

                       (2)      Class B Monthly Interest
                                previously due but not paid........... $ ______

                       (3)      Class B Additional Interest and
                                any Class B Additional Interest
                                previously due but not paid........... $ ______

                  B)   Pursuant to subsection 4.05(b)(ii):

                       (1)      The Class B Servicing Fee for the
                                preceding Monthly Period, if
                                applicable............................ $ ______

                       (2)      Accrued and unpaid Class B
                                Servicing Fees, if applicable......... $ ______

                  With respect to the Collateral Interest

                  A)   Pursuant to subsection 4.05(c)(i):

                       (1)      The Collateral Servicing Fee for
                                the preceding Monthly Period, if
                                applicable............................ $ ______

                                      B-2
<PAGE>

                       (2)      Accrued and unpaid Collateral
                                Servicing Fee, if applicable.......... $ ______

                  Pursuant to subsections 4.05(d), (e) and (f), the Servicer
hereby instructs the Trustee (i) to make withdrawals from the Collection Account
on ___________, which date is a Distribution Date under the Supplement, in the
aggregate amounts (equal to the Available Principal Collections) as set forth
below in respect of the following amounts and (ii) to apply the proceeds of such
withdrawals in accordance with subsections 4.05(d), (e) and (f):

                  A)   Pursuant to subsection 4.05(d):

                       (1)      The excess, if any, of the
                                Collateral Invested Amount over
                                the Required Collateral Invested
                                Amount paid to the Collateral
                                Interest Holder pursuant to the
                                Loan Agreement........................ $ ______

                       (2)      Amount to be treated as Shared
                                Principal Collections................. $ ______

                  B)   Pursuant to subsection 4.05(e):

                       (1)      The Lesser of the Controlled
                                Deposit Amount and the sum of the
                                Class A Adjusted Invested Amount
                                and the Class B Adjusted Invested
                                Amount deposited in the Principal
                                Funding Account....................... $ ______

                       (2)      After the Class B Invested Amount
                                is paid in full, the amount paid
                                to the Collateral Interest Holder
                                (up to the Collateral Invested
                                Amount) pursuant to the Loan
                                Agreement.............................. $ ______

                       (3)      Prior to the date the Class B
                                Invested Amount is paid in full,
                                excess of the Collateral Invested
                                Amount over the Required
                                Collateral Invested Amount paid
                                to the Collateral Interest Holder
                                pursuant to the Loan Agreement......... $ ______

                       (4)      Prior to the date the Class B
                                Invested Amount is paid in full,
                                amount to be treated as Shared
                                Principal Collections.................. $ ______

                                      B-3
<PAGE>

                  C)   Pursuant to subsection 4.05(f):

                       (1)      An amount up to the Class A
                                Adjusted Invested Amount deposited
                                in the Principal Funding Account....... $ ______

                       (2)      On and after the Distribution Date
                                on which the Class A Invested Amount
                                is paid in full, an amount up to the
                                Class B Invested Amount deposited in
                                the Principal Funding Account.......... $ ______

                       (3)      On an after the Distribution Date on
                                which the Class B Invested Amount is
                                paid in full, an amount up to the
                                Collateral Invested Amount paid to
                                the Collateral Interest Holder
                                pursuant to the Loan Agreement......... $ ______

                  Pursuant to Section 4.07, the Servicer does hereby instruct
the Trustee to apply on ________________, which is a Distribution Date under the
Supplement, any Excess Spread and Excess Finance Charge Collections allocated to
Series 2000-2 as follows:

                  A)   Pursuant to subsection 4.07(a):

                       Class A Required Amount applied in the
                       priority set forth in subsections 4.05(a)(i),
                       (ii) and (iii).................................. $ ______

                  B)   Pursuant to subsection 4.07(b):

                       Aggregate amount of Class A Investor
                       Charge-Offs not previously reimbursed
                       allocated to Available Principal Collections.... $ ______

                  C)   Pursuant to subsection 4.07(c):

                       Class B Required Amount applied in the
                       priority set forth in subsections 4.05(b)(i).... $ ______

                  D)   Pursuant to subsection 4.07(d):

                       Interest accrued on aggregate outstanding
                       principal balance of the Class B Certificates
                       not otherwise distributed to Class B
                       Certificateholders pursuant to
                       Section 4.07(c)................................. $ ______

                                      B-4
<PAGE>

                  E)   Pursuant to subsection 4.07(d):

                       Amount (up to the Class B Investor Default)
                       to be applied as Available Principal
                       Collections..................................... $ ______

                  F)   Pursuant to subsection 4.07(e):

                       The amount by which the "Class B Invested
                       Amount" has been reduced pursuant to
                       clauses (c), (d) and (e) of the definition
                       thereof allocated to Available Principal
                       Collections..................................... $ ______

                  G)   Pursuant to subsection 4.07(f):

                       (1)      Collateral Monthly Interest............ $ ______

                       (2)      Collateral Monthly Interest
                                previously due but not paid............ $ ______

                       (3)      Collateral Additional Interest and
                                any Collateral Additional Interest
                                previously due and not paid............ $ ______

                  H)   Pursuant to subsection 4.07(g):

                       Monthly Servicing Fee for such Distribution
                       Date that has not been paid to the Servicer
                       and any Monthly Servicing Fee previously due
                       but not paid to the Servicer.................... $ ______

                  I)   Pursuant to subsection 4.07(h):

                       Collateral Default Amount allocated to
                       Available Principal Collections................. $ ______

                  J)   Pursuant to subsection 4.07(i):

                       The amount by which the "Collateral Invested
                       Amount" has been reduced pursuant to clauses
                       (c), (d) and (e) of the definition thereof
                       allocated to Available Principal Collections.... $ ______

                  K)   Pursuant to subsection 4.07(j):

                       The excess of the Required Reserve Account
                       Amount over the Available Reserve Amount
                       deposited into the Reserve Account.............. $ ______

                                      B-5
<PAGE>

                  L)   Pursuant to subsection 4.07(k):

                       Paid to the Collateral Interest Holder
                       pursuant to the Loan Agreement.................. $ ______

                  M)   Pursuant to subsection 4.07(l):

                       Treated as Excess Finance Charge Collections
                       and allocated to other Series or paid to the
                       Holders of the Transferor Certificates.......... $ ______

                  Pursuant to Section 4.08, the Servicer does hereby instruct
the Trustee to apply on _________, which is a Distribution Date under the
Pooling and Servicing Agreement, $_______ of Reallocated Principal Collections
to fund any deficiencies in the Required Amount after applying Class A Available
Funds, Class B Available Funds, Excess Spread and Excess Finance Charge
Collections thereto.

II.      INSTRUCTION TO MAKE CERTAIN PAYMENTS

                  Pursuant to Section 5.01 of the Series Supplement, the
Servicer does hereby instruct the Trustee to pay in accordance with Section 5.01
from the Interest Funding Account or the Principal Funding Account, as
applicable, on _______, which date is a Payment Date under the Supplement, the
following amounts as set forth below:

                  A)   Pursuant to subsection 5.01(a):

                       Interest to be distributed to Class A
                       Certificateholders.............................. $ ______

                  B)   Pursuant to subsection 5.01(b):

                       On the Expected Final Payment Date or a
                       Special Payment Date, principal to be
                       distributed to the Class A
                       Certificateholders.............................. $ ______

                  C)   Pursuant to subsection 5.01(c):

                       Interest to be distributed to Class B
                       Certificateholders.............................. $ ______

                  D)   Pursuant to subsection 5.01(d):

                       On the Expected Final Payment Date or a
                       Special Payment Date, on or after the date
                       Class A Invested Amount is paid in full,
                       principal to be distributed to the Class B
                       Certificateholders.............................. $ ______

III.     ACCRUED AND UNPAID AMOUNTS

                                      B-6
<PAGE>

                  After giving effect to the withdrawals and transfers to be
made in accordance with this notice, the following amounts will be accrued and
unpaid with respect to all Monthly Periods preceding the current calendar month.

                  1.   Subsection 4.06(a):

                       The aggregate amount of all unreimbursed
                       Class A Investor Charge-Offs.................... $ ______

                  4.   Subsection 4.06(a), (b) and 4.08(a):

                       The aggregate amount by which the "Class B
                       Invested Amount" has been reduced pursuant
                       to clauses (c), (d) and (e) of the
                       definition thereof.............................. $ ______

                  5.   Subsection 4.06(a), (b), (c) and 4.08(a) and (b):

                       The aggregate amount by which the "Collateral
                       Invested Amount" has been reduced pursuant to
                       clauses (c), (d) and (e) of the definition
                       thereof......................................... $ ______

                  IN WITNESS WHEREOF, the undersigned has duly executed this
Certificate this          day of                     ,         .
                 --------        --------------------  --------

                                        AMERICAN EXPRESS TRAVEL RELATED
                                        SERVICES COMPANY, INC., as Servicer

                                        By:
                                             ----------------------------------
                                             Name:
                                             Title:

                                      B-7
<PAGE>

                                                                       EXHIBIT C

                            FORM OF MONTHLY STATEMENT

                  AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST
                                  SERIES 2000-2

                  Pursuant to the Pooling and Servicing Agreement dated as of
May 16, 1996 (hereinafter as such agreement may have been or may be from time to
time, amended or otherwise modified, the "Pooling and Servicing Agreement"),
among American Express Travel Related Services Company, Inc. ("TRS"), as
Servicer, American Express Centurion Bank and American Express Receivables
Financing Corporation II, as transferors (together, the "Transferors"), and The
Bank of New York, as trustee (the "Trustee"), as supplemented by the Series
2000-2 Supplement dated as of February 16, 2000 (the "Supplement") among TRS,
the Transferors and the Trustee, TRS, as Servicer is required to prepare certain
information each month regarding current distributions to the Series 2000-2
Certificateholders and the performance of the American Express Credit Account
Master Trust (the "Trust") during the previous month. The information which is
required to be prepared with respect to the Distribution Date of __________,
and with respect to the performance of the Trust during the month of ___________
is set forth below. Certain of the information is presented on the basis of an
original principal amount of $1,000 per Series 2000-2 Certificate (a
"Certificate"). Certain other information is presented based on the aggregate
amounts for the Trust as a whole. Capitalized terms used in this Monthly
Statement have their respective meanings set forth in the Pooling and Servicing
Agreement and the Supplement.

                  A)   Information regarding distributions in respect
                       of the Class A Certificates per $1,000 original
                       certificate principal amount

                       (1)      The total amount of the distribution
                                in respect of Class A Certificates,
                                per $1,000 original certificate
                                principal amount....................... $ ______

                       (2)      The amount of the distribution set
                                forth in paragraph 1 above in respect
                                of interest on the Class A
                                Certificates, per $1,000 original
                                certificate principal amount........... $ ______

                       (3)      The amount of the distribution set
                                forth in paragraph 1 above in respect
                                of principal of the Class A
                                Certificates, per $1,000 original
                                certificate principal amount........... $ ______

                  B)   Class A Investor Charge Offs and Reimbursement of
                       Charge Offs

                       (1)      The amount of Class A Investor
                                Charge Offs............................ $ ______

<PAGE>

                       (2)      The amount of Class A Investor
                                Charge Offs set forth in paragraph
                                1 above, per $1,000 original
                                certificate principal amount........... $ ______

                       (3)      The total amount reimbursed in
                                respect of Class A Investor Charge
                                Offs................................... $ ______

                       (4)      The amount set forth in paragraph
                                3 above, per $1,000 original
                                certificate principal amount........... $ ______

                       (5)      The amount, if any, by which the
                                outstanding principal balance of
                                the Class A Certificates exceeds
                                the Class A Invested Amount after
                                giving effect to all transactions
                                on such Distribution Date.............. $ ______

                  C)   Information regarding distributions in respect of the
                       Class B Certificates, per $1,000 original certificate
                       principal amount

                       (1)      The total amount of the distribution
                                in respect of Class B Certificates,
                                per $1,000 original certificate
                                principal amount....................... $ ______

                       (2)      The amount of the distribution set
                                forth in paragraph 1 above in respect
                                of interest on the Class B
                                Certificates, per $1,000 original
                                certificate principal amount........... $ ______

                       (3)      The amount of the distribution set
                                forth in paragraph 1 above in respect
                                of principal of the Class B
                                Certificates, per $1,000 original
                                certificate principal amount........... $ ______

                  D)   Amount of reductions in Class B Invested Amount
                       pursuant to clauses (c), (d), and (e) of the
                       definition of Class B Invested Amount

                       (1)      The amount of reductions in Class B
                                Invested Amount pursuant to clauses
                                (c), (d) and (e) of the definition of
                                Class B Invested Amount................ $ ______

                       (2)      The amount of the reductions in the
                                Class B Invested Amount set forth in
                                paragraph

                                      C-2
<PAGE>

                                1 above, per $1,000 original
                                certificate principal amount........... $ ______

                       (3)      The total amount reimbursed in
                                respect of such reductions in the
                                Class B Invested Amount................ $ ______

                       (4)      The amount set forth in paragraph 3
                                above, per $1,000 original
                                certificate principal amount........... $ ______

                       (5)      The amount, if any, by which the
                                outstanding principal balance of the
                                Class B Certificates exceeds the
                                Class B Invested Amount after giving
                                effect to all transactions on such
                                Distribution Date...................... $ ______

                  E)   Information regarding certain distributions to the
                       Collateral Interest Holder

                       (1)      The amount distributed to the
                                Collateral Interest Holder in respect
                                of interest on the Collateral Invested
                                Amount................................. $ ______

                       (2)      The amount distributed to the
                                Collateral Interest Holder in respect
                                of principal on the Collateral
                                Invested Amount........................ $ ______

                  F)    Amount of reductions in Collateral Invested Amount
                        pursuant to clauses (c), (d), and (e) of the definition
                        of Collateral Invested Amount

                       (1)      The amount of reductions in the
                                Collateral Invested Amount
                                pursuant to clauses (c), (d) and
                                (e) of the definition of
                                Collateral Invested Amount............. $ ______

                       (2)      The total amount reimbursed in
                                respect of such reductions in the
                                Collateral Invested Amount............. $ ______

                                        AMERICAN EXPRESS TRAVEL RELATED
                                        SERVICES COMPANY, INC., as Servicer

                                        By:
                                             ----------------------------------
                                             Name:
                                             Title:

                                      C-3
<PAGE>

 RECEIVABLES --

Beginning of the Month Principal Receivables:                           $ ______
Beginning of the Month Finance Charge Receivables:                      $ ______
Beginning of the Month Discounted Receivables:                          $ ______
Beginning of the Month Premium Receivables:                             $ ______
Beginning of the Month Total Receivables:                               $ ______

Removed Principal Receivables:                                          $ ______
Removed Finance Charge Receivables:                                     $ ______
Removed Total Receivables:                                              $ ______

Additional Principal Receivables:                                       $ ______
Additional Finance Charge Receivables:                                  $ ______
Additional Total Receivables:                                           $ ______

Discounted Receivables Generated this Period:                           $ ______
Premium Receivables Generated this Period:                              $ ______
End of the Month Principal Receivables:                                 $ ______
End of the Month Finance Charge Receivables:                            $ ______
End of the Month Discounted Receivables:                                $ ______
End of the Month Premium Receivables:                                   $ ______
End of the Month Total Receivables:                                     $ ______

Special Funding Account Balance:                                        $ ______
Aggregate Invested Amount (all Master Trust Series)::                   $ ______
End of the Month Transferor Amount:                                     $ ______

                                      C-4
<PAGE>

DELINQUENCIES AND LOSSES --

End of the Month Delinquencies:                                      RECEIVABLES
                                                                     -----------
         30-59 Days Delinquent                                      $___________
         60-89 Days Delinquent                                      $___________
         90+ Days Delinquent                                        $___________
         Total 30+ Days Delinquent                                  $___________
         Defaulted Accounts During the Month:                       $___________

INVESTED AMOUNTS --

         Class A Initial Invested Amount          $412,500,000
         Class B Initial Invested Amount          $ 40,000,000
         Collateral Initial Invested Amount       $ 47,500,000

INITIAL INVESTED AMOUNT                                             $500,000,000

         Class A Invested Amount                  $___________
         Class B Invested Amount                  $___________
         Collateral Invested Amount               $___________

INVESTED AMOUNT                                   $___________

         Class A Adjusted Invested Amount                           $___________
         Class B Adjusted Invested Amount                           $___________

ADJUSTED INVESTED AMOUNT                                            $___________

MONTHLY SERVICING FEE                                               $___________

INVESTOR DEFAULT AMOUNT                                             $___________

                                      C-5
<PAGE>

GROUP II INFORMATION

         WEIGHTED AVERAGE CERTIFICATE RATE FOR ALL
         SERIES IN GROUP ONE                                        $___________

         GROUP II INVESTOR FINANCE CHARGE COLLECTIONS               $__________
         GROUP II INVESTOR ADDITIONAL AMOUNTS                       $__________
         GROUP II INVESTOR DEFAULT AMOUNT                           $__________
         GROUP II INVESTOR MONTHLY FEES                             $__________
         GROUP II INVESTOR MONTHLY INTEREST                         $__________

SERIES 2000-2 INFORMATION

         SERIES 2000-2 ALLOCATION PERCENTAGE                        ___________%

         SERIES 2000-2 ALLOCABLE FINANCE CHARGE
         COLLECTIONS                                                $__________

         SERIES 2000-2 ADDITIONAL
         AMOUNTS                                                    $__________

         SERIES 2000-2 ALLOCABLE DEFAULTED AMOUNT                   $__________

         SERIES 2000-2 MONTHLY FEES                                 $__________

         SERIES 2000-2 ALLOCABLE PRINCIPAL COLLECTIONS              $__________

         SERIES 2000-2 REQUIRED TRANSFEROR AMOUNT                   $__________

         FLOATING ALLOCATION
         PERCENTAGE                                                 $__________

         INVESTOR FINANCE CHARGE COLLECTIONS                         __________%

         INVESTOR DEFAULT AMOUNT                                    $__________

         REALLOCATED INVESTOR FINANCE CHARGE
         COLLECTIONS                                                $___________

         PRINCIPAL ALLOCATIONS PERCENTAGE                            __________%

         AVAILABLE PRINCIPAL
         COLLECTIONS                                                $__________

                                      C-6
<PAGE>

CLASS A AVAILABLE FUNDS --

CLASS A FLOATING PERCENTAGE                                          __________%
         Class A Floating Percentage of                $________
         Reallocated Investor Finance Charge
         Collections

         Other Amounts                                 $________

TOTAL CLASS A AVAILABLE FUNDS                                       $__________

         Class A Monthly Interest                      $________
         Class A Servicing Fee (if applicable)         $________
         Class A Investor Default Amount               $________

TOTAL CLASS A EXCESS SPREAD                                         $__________

CLASS A REQUIRED AMOUNT                                             $__________

CLASS B AVAILABLE FUNDS --                                          $__________

CLASS B FLOATING PERCENTAGE                                          __________%

CLASS B AVAILABLE FUNDS                                             $__________

         Class B Monthly Interest                      $________
         Class B Servicing Fee (if applicable)         $________

COLLATERAL AVAILABLE FUNDS
COLLATERAL FLOATING PERCENTAGE                                       __________%

COLLATERAL AVAILABLE FUNDS                                          $__________

         Collateral Interest Servicing Fee (if
         applicable)                                                $__________

TOTAL COLLATERAL EXCESS SPREAD                                      $__________

TOTAL CLASS B EXCESS SPREAD                                         $__________

                                       C-7
<PAGE>

EXCESS SPREAD -

TOTAL EXCESS SPREAD                                                 $__________

         Excess Spread Applied to Class A              $________
         Required Amount

         Excess Spread Applied to Class A              $________
         Investor Charge Offs

         Excess Spread Applied to Class B              $________
         Required Amount

         Excess Spread Applied to Reductions           $________
         of Class B Invested Amount pursuant
         to clauses (c), (d) and (e)

         Excess Spread Applied to Collateral           $________
         Monthly Interest

         Excess Spread Applied to Unpaid               $________
         Monthly Servicing Fee

         Excess Spread Applied Collateral              $________
         Default Amount

         Excess Spread Applied to Reductions           $________
         of Collateral Invested Amount Pursuant
         to Clauses (c), (d) and (e)

         Excess Spread Applied to Reserve              $________
         Account

         Excess Spread Applied to Other                $________
         Amounts Owed to Collateral Interest
         Holder

TOTAL EXCESS FINANCE CHARGE                            $________
COLLECTIONS ELIGIBLE FOR OTHER
EXCESS ALLOCATION SERIES

                                      C-8
<PAGE>

EXCESS FINANCE CHARGES
COLLECTIONS

TOTAL EXCESS FINANCE CHARGE                            $________
COLLECTIONS FOR ALL ALLOCATION
SERIES

SERIES 2000-2 EXCESS FINANCE
CHARGE COLLECTIONS

EXCESS FINANCE CHARGE                                  $________
COLLECTIONS ALLOCATED TO SERIES
2000-2

         Excess Finance Charge Collections             $________
         Applied to Class A Required Amount

         Excess Finance Charge Collections             $________
         Applied to Class A Investor Charge
         Offs

         Excess Finance Charge Collections             $________
         Applied to Class B Required Amount

         Excess Finance Charge Collections             $________
         Applied to Reductions of Class B
         Invested Amount Pursuant to Clauses
         (c), (d) and (e)

         Excess Finance Charge Collections             $________
         Applied to Collateral Monthly Interest

         Excess Finance Charge Collections             $________
         Applied to Unpaid Monthly Servicing
         Fee

         Excess Finance Charge Collections             $________
         Applied to Collateral Default Amount

         Excess Finance Charge Collections             $________
         Applied to Reductions of Collateral
         Invested Amount Pursuant to Clauses
         (c), (d) and (e)

         Excess Finance Charge Collections             $________
         Applied to Reserve Account

                                      C-9
<PAGE>

         Excess Finance Charge Collections             $________
         Applied to Other Amounts Owed to
         Collateral Interest Holder

YIELD AND BASE RATE --

         Base Rate (Current Month)                      _______%
         Base Rate (Prior Month)                        _______%
         Base Rate (Two Months Ago)                     _______%

THREE MONTH AVERAGE BASE RATE                                        __________%

         Series Adjusted Portfolio Yield                _______%
         (Current Month)
         Series Adjusted Portfolio Yield (Prior         _______%
         Month)
         Series Adjusted Portfolio Yield (Two           _______%
         Months Ago)

THREE MONTH AVERAGE SERIES
ADJUSTED PORTFOLIO YIELD                                             __________%

PRINCIPAL COLLECTIONS --

CLASS A PRINCIPAL PERCENTAGE                                         __________%

         Class A Principal Collections                 $________

CLASS B PRINCIPAL PERCENTAGE                                         __________%

         Class B Principal Collections                 $________

COLLATERAL PRINCIPAL PERCENTAGE                                      __________%

         Collateral Principal Collections              $________

AVAILABLE PRINCIPAL COLLECTIONS                                     $__________

                                      C-10
<PAGE>

REALLOCATED PRINCIPAL                                               $__________
COLLECTIONS

SERIES 2000-2 PRINCIPAL SHORTFALL                                   $__________

SHARED PRINCIPAL COLLECTIONS
ALLOCABLE FROM OTHER PRINCIPAL
SHARING SERIES                                                      $__________

ACCUMULATION --

         Controlled Accumulation Amount                $________
         Deficit Controlled Accumulation               $________
         Amount

CONTROLLED DEPOSIT AMOUNT                                           $__________

PRINCIPAL FUNDING ACCOUNT                                           $__________
BALANCE

SHARED PRINCIPAL COLLECTIONS
ELIGIBLE FOR OTHER PRINCIPAL
SHARING SERIES                                                      $__________

INVESTOR CHARGE OFFS AND
REDUCTIONS--

CLASS A INVESTOR CHARGE OFFS                                        $__________

REDUCTIONS IN CLASS B INVESTED
AMOUNT (OTHER THAN BY PRINCIPAL
PAYMENTS)                                                           $__________

REDUCTIONS IN COLLATERAL
INVESTED AMOUNT (OTHER THAN BY
PRINCIPAL PAYMENTS)                                                 $__________

                                      C-11
<PAGE>

PREVIOUS CLASS A CHARGE OFFS                                        $__________
REIMBURSED

PREVIOUS CLASS B INVESTED AMOUNT                                    $__________
REDUCTIONS REIMBURSED

PREVIOUS COLLATERAL INVESTED                                        $__________
AMOUNT REDUCTIONS REIMBURSED

                                        AMERICAN EXPRESS TRAVEL RELATED
                                        SERVICES COMPANY, INC., as Servicer

                                        By:
                                            ------------------------------------
                                            Name:
                                            Title:

                                      C-12
<PAGE>

                                                                       EXHIBIT D

                     FORM OF MONTHLY SERVICER'S CERTIFICATE

             AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC.

                  AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST
                                  SERIES 2000-2

                  The undersigned, a duly authorized representative of American
Express Travel Related Services Company, Inc., as Servicer ("TRS"), pursuant to
the Pooling and Servicing Agreement, dated as of May 16, 1996 (as amended and
supplemented, the "Agreement"), as supplemented by the Series 2000-2 Supplement
dated as of February 16, 2000 (as amended and supplemented, the "Series
Supplement"), among TRS, as Servicer, American Express Centurion Bank and
American Express Receivables Financing Corporation II, as Transferors, and The
Bank of New York, as Trustee, does hereby certify as follows:

                  1.    Capitalized terms used in this Certificate have their
respective meanings as set forth in the Agreement or the Series Supplement, as
applicable.

                  2.    TRS is, as of the date hereof, the Servicer under the
Agreement.

                  3.    The undersigned is a Servicing Officer.

                  4.    This Certificate relates to the Distribution Date
occurring on _____________, 200_.

                  5.    As of the date hereof, to the best knowledge of the
undersigned, the Servicer has performed in all material respects all its
obligations under the Agreement through the Monthly Period preceding such
Distribution Date [or, if there has been a default in the performance of any
such obligation, set forth in detail the (i) nature of such default, (ii) the
action taken by the Servicer, if any, to remedy such default and (iii) the
current status of each such default; if applicable, insert "None"].

                  6.    As of the date hereof, to the best knowledge of the
undersigned, no Pay Out Event occurred on or prior to such Distribution Date.

                  IN WITNESS WHEREOF, the undersigned has duly executed and
delivered this Certificate this day of , 200 .

                                        AMERICAN EXPRESS TRAVEL RELATED
                                        SERVICES COMPANY, INC.,
                                        as Servicer

                                        By:
                                            ------------------------------------
                                            Name:
                                            Title:Tier I

          Form of
          Executive Severance Agreement
          for _______________________

          The Earthgrains Company

<PAGE>

Contents

Article 1. Establishment, Term, and Purpose           1

Article 2. Definitions                                2

Article 3. Severance Benefits                         5

Article 4. Form and Timing of Severance Benefits      7

Article 5. Excise Tax Equalization Payment            7

Article 6. Establishment of Trust                     9

Article 7: Mitigation                                 9

Article 8. Confidentiality and Noncompetition         9

Article 9. Legal Remedies                             10

Article 10. Outplacement Assistance                   11

Article 11. Successors and Assignment                 11

Article 12. Miscellaneous                             12

<PAGE>

The Earthgrains Company
 Executive Severance Agreement

     THIS AGREEMENT is made and entered into as of the
______day of ______, 1999 (the "Effective Date"), by and
between The Earthgrains Company (hereinafter referred to as
the "Company") and (hereinafter referred to as the
"Executive").

     WHEREAS, the Board of Directors of the Company has
approved the Company entering into severance agreements with
certain key executives of the Company;

     WHEREAS, the Executive is the Chairman of the Board of
Directors and Chief Executive Officer of the Company;

     WHEREAS, should the possibility of a Change in Control
of the Company arise, the Board believes it is imperative
that the Company and the Board should be able to rely upon
the Executive to continue in his position, and that the
Company should be able to receive and rely upon the
Executive's advice, if requested, as to the best interests
of the Company and its shareholders without concern that the
Executive might be distracted by the personal uncertainties
and risks created by the possibility of a Change in Control;

     WHEREAS, should the possibility of a Change in Control
arise, in addition to his regular duties, the Executive may
be called upon to assist in the assessment of such possible
Change in Control, advise management and the Board as to
whether such Change in Control would be in the best
interests of the Company and its shareholders, and to take
such other actions as the Board might determine to be
appropriate; and

     NOW THEREFORE, to assure the Company that it will have
the continued dedication of the Executive and the
availability of his advice and counsel notwithstanding the
possibility, threat, or occurrence of a Change in Control of
the Company, and to induce the Executive to remain in the
employ of the Company, and for other good and valuable
consideration, the Company and the Executive agree as
follows:

Article 1.  Establishment, Term, and Purpose

     This Agreement will commence on the Effective Date and
shall continue in effect for three (3) full years. However,
at the end of such three (3) year period and, if extended,
at the end of each additional year thereafter, the term of
this Agreement shall be extended automatically for one (1)
additional year, unless the Committee delivers written
notice six (6) months prior to the end of such term, or
extended term, to the Executive, that the Agreement will not
be extended. In such case, the Agreement will terminate at
the end of the term, or extended term, then in progress.

     However, in the event a Change in Control occurs during
the original or any extended term, this Agreement will
remain in effect for the longer of: (i) twenty-four (24)
months beyond the month in which such Change in Control
occurred; or (ii) until all obligations of the Company
hereunder have been fulfilled, and until all benefits
required hereunder have been paid to the Executive.

                             1

<PAGE>

Article 2.  Definitions

     Whenever used in this Agreement, the following terms
shall have the meanings set forth below and, when the
meaning is intended, the initial letter of the word is
capitalized.

     (a)  "Base Salary" means the salary of record paid to
an Executive as annual salary, excluding amounts received
under incentive or other bonus plans, whether or not
deferred.

     (b)  "Beneficial Owner" shall have the meaning ascribed
to such term in Rule 13d-3 of the General Rules and
Regulations under the Exchange Act.

     (c)  "Beneficiary" means the persons or entities
designated or deemed designated by the Executive pursuant to
Paragraph 12.2 herein.

     (d)  "Board" means the Board of Directors of the
Company.

     (e)  "Cause" means:

          (i)  The Executive's willful and continued failure
to substantially perform his duties with the Company (other
than any such failure resulting from disability or occurring
after issuance by the Executive of a Notice of Termination
for Good Reason), after a written demand for substantial
performance is delivered to the Executive that specifically
identifies the manner in which the Company believes that the
Executive has willfully failed to substantially perform his
duties, and after the Executive has failed to resume
substantial performance of his duties on a continuous basis
within thirty (30) calendar days of receiving such demand;

          (ii)  The Executive's willfully engaging in
conduct (other than conduct covered under (i) above) which
is demonstrably and materially injurious to the Company,
monetarily or otherwise. For purposes of this subparagraph,
no act, or failure to act, on the Executive's part shall be
deemed "willful" unless done, or omitted to be done, by the
Executive not in good faith and without reasonable belief
that the action or omission was in the best interests of the
Company; or

          (iii)  The Executive's having been convicted of a
felony.

     (f)  "Change in Control" of the Company shall be deemed
to have occurred as of the first day that any one or more of
the following conditions is satisfied:

          (i)  The "beneficial ownership" (as defined in
Rule 13d-3 under the Exchange Act) of securities
representing more than thirty percent (30%) of the combined
voting power of the Company is acquired by a Person (other
than the Company, any trustee or other fiduciary holding
securities under an employee benefit plan of the Company or
an affiliate thereof, or any corporation owned, directly or
indirectly, by the stockholders of the Company in
substantially the same proportions as their ownership of
stock of the Company); or

                             2

<PAGE>

           (ii)  The stockholders of the Company approve a
definitive agreement to merge or consolidate the Company
with or into another company;

          (iii)  The stockholders of the Company (a) approve
an agreement for the sale or disposition of all or
substantially all of the Company's assets, or (b) adopt a
plan for liquidation; or

          (iv)  The Incumbent Directors cease for any reason
to constitute at least a majority of the Board of Directors.

However, in no event shall a Change in Control be deemed to
have occurred, with respect to the Executive, if the
Executive is part of a purchasing group which consummates
the Change-in-Control transaction. The Executive shall be
deemed "part of a purchasing group" for purposes of the
preceding sentence if the Executive is an equity participant
in the purchasing company or group (except for: (a) passive
ownership of less than three percent (3%) of the stock of
the purchasing company; or (b) ownership of equity
participation in the purchasing company or group which is
otherwise not significant, as determined prior to the Change
in Control by a majority of the nonemployee continuing
Directors).

Notwithstanding the occurrence of any of the foregoing
events, a Change in Control should not occur with respect to
the Executive if, in advance of such event, Executive agrees
in writing that such event shall not constitute a Change in
Control.

     (g)  "Code" means the United States Internal Revenue
Code of 1986, as amended, and any successors thereto.

     (h)  "Committee" means the Compensation and Human
Resources Committee of the Board or any other committee
appointed by the Board.

     (i)  "Company" means The Earthgrains Company, a
Delaware corporation, or any successor thereto as provided
in Article 11 herein.

     (j)  "Effective Date of Termination" means the date on
which a Qualifying Termination occurs which triggers the
payment of Severance Benefits hereunder.

     (k)  "Exchange Act" means the United States Securities
Exchange Act of 1934, as amended, and any successors
thereto.

     (l)  "Good Reason" shall mean, without the Executive's
express written consent, the occurrence of any one or more
of the following:

          (i)  The assignment of the Executive to duties
materially inconsistent with the Executive's authorities,
duties, responsibilities, and status (including offices and
reporting requirements) as an employee of the Company, or a
reduction in the nature or status of the Executive's
authorities, duties, or responsibilities from the greater
of: (a) those in effect on the Effective Date; (b) those in
effect during the

                             3

<PAGE>

fiscal year immediately preceding the year of the Change in
Control; or (c) those in effect immediately preceding the
Change in Control;

          (ii)  The Company's requiring the Executive to
relocate his place of employment to a new location and as a
direct result of such relocation, Executive's one-way
commute from the Executive's primary residence to the
Executive's place of employment would increase by fifty (50)
miles;

          (iii)  A reduction by the Company in the
Executive's Base Salary as in effect on the Effective Date
or as the same shall be increased from time to time;

          (iv)  A material reduction in the Executive's
level of participation in any of the Company's short- and/or
long-term incentive compensation plans, or employee benefit
or retirement plans, policies, practices, or arrangements in
which the Executive participates from the greater of the
levels in place on:  (a) the Effective Date; (b) the fiscal
year immediately preceding the Change in Control; or (c)
immediately preceding the Change in Control; provided,
however, that reductions in the levels of participation in
any such plans shall not be deemed to be "Good Reason" if
the Executive's reduced level of participation in each such
program remains substantially consistent with the average
level of participation of other executives of the Company
who have positions commensurate with the Executive's
position;

          (v)  The failure of the Company to obtain a
satisfactory agreement from any successor to the Company to
assume and agree to perform this Agreement, as contemplated
in Article 11 herein; or

          (vi)  Any termination of Executive's employment by
the Company that is not effected pursuant to a Notice of
Termination;

provided, however, that any action or omission by the
Company after a Merger of Equals that is specified in
clauses (i), (ii), (iii), (iv), and (v) of this subparagraph
and is not intentional or willful shall not constitute Good
Reason unless (x) the Executive shall give the Company a
written notice that identifies such action or omission and
specifically refers to this Paragraph, and (y) the Company
shall fail for any reason to cure such act or omission
within 30 days after the Executive gives the Company such
notice.

The Executive's continued employment shall not constitute a
waiver of the Executive's rights with respect to any
circumstance constituting Good Reason.

     (m)  "Incumbent Directors" shall mean as of the
effective dates, individuals then serving as members of the
Board who were members of the Board as of the date
immediately preceding such baseline date; provided that any
subsequently-appointed or elected member of the Board whose
election to the Board or nomination for election by the
Company's stockholders was approved by a vote of at least
two-thirds (2/3) of the directors then still in office who
either were directors at the beginning of the period or
whose election or nomination for election was previously
approved.

                             4

<PAGE>

     (n)  "Merger of Equals" means, as of any date, a
transaction that, notwithstanding the fact that such
transaction may also qualify as a Change in Control pursuant
to subparagraph 2(f)(ii), satisfies all of the terms and
conditions set forth in (i) and (ii) below:

          (i)  At least sixty percent (60%), but not more
than seventy percent (70%), of the combined voting power of
the voting securities of the surviving entity outstanding
immediately after the consummation of the transaction shall
be owned, directly or indirectly, by the persons who were
the owners, directly or indirectly, of the voting securities
of the Company immediately before such consummation in
substantially the same proportions as their respective
direct or indirect ownership, immediately before such
consummation, of the voting securities of the Company; and

          (ii)  Incumbent Directors shall continue to
constitute a majority of the members of the Board of
Directors.

     (o)  "Notice of Termination" shall mean a written
notice which shall indicate the specific termination
provision in this Agreement relied upon and shall set forth
in reasonable detail the facts and circumstances claimed to
provide a basis for termination of the Executive's
employment under the provision so indicated.

     (p)  "Person" shall have the meaning ascribed to such
term in Section 3(a)(9) of the Exchange Act and used in
Sections 13(d) and 14(d) thereof, including a "group" as
provided in Section 13(d).

     (q)  "Qualifying Termination" means any of the events
described in Paragraph 3.2 herein, the occurrence of which
triggers the payment of Severance Benefits hereunder.

     (r)  "Severance Benefits" means the payment of
severance compensation as provided in Paragraph 3.3 herein.

     (s)  "Trust" means the Company grantor trust to be
created pursuant to Article 6 of this Agreement.

Article 3.  Severance Benefits

     3.1  Right to Severance Benefits. The Executive shall
be entitled to receive from the Company Severance Benefits,
as described in Paragraph 3.3 herein, if there has been a
Qualifying Termination.

     The Executive shall not be entitled to receive
Severance Benefits if he is terminated for Cause.

     3.2  Qualifying Termination. The occurrence of any one
or more of the following events shall trigger the payment of
Severance Benefits to the Executive under this Agreement:

          (a)  An involuntary termination of the Executive's
employment by the Company for reasons other than Cause
within twenty-four (24) calendar months following a Change
in Control of the Company pursuant to a Notice of
Termination delivered to the Executive by the Company;

                             5

<PAGE>

          (b)  A voluntary termination by the Executive for
Good Reason within twenty-four (24) calendar months
following a Change in Control of the Company pursuant to a
Notice of Termination delivered to the Company by the
Executive;

          (c)  A voluntary termination by the Executive for
any reason during the thirty (30) day period beginning on
the first day of the eleventh calendar month after a Change
in Control of the Company pursuant to a Notice of
Termination delivered to the Company by the Executive; or

          (d)  The Company or any successor company breaches
any of the provisions of this Agreement.

provided, however, that in the event of a Merger of Equals,
a voluntary termination pursuant to subparagraph 3.2(c)
shall not be considered a Qualifying Termination and shall
not trigger the payment of severance benefits to the
Executive under this Agreement.

     3.3  Description of Severance Benefits. In the event
the Executive becomes entitled to receive Severance
Benefits, as provided in Paragraphs 3.1 and 3.2 herein, the
Company shall pay to the Executive and provide him with the
following:

          (a)  An amount equal to three (3) times the
highest rate of the Executive's annualized Base Salary in
effect at any time up to and including the Effective Date of
Termination.

          (b)  An amount equal to three (3) times the
Executive's highest target annual bonus for any plan year up
to and including the year in which the Executive's Effective
Date of Termination occurs.

          (c)  An amount equal to the Executive's unpaid
Base Salary, accrued vacation pay, and earned but not taken
vacation pay through the Effective Date of Termination.

          (d)  An amount equal to the Executive's unpaid
target annual bonus, established for the plan year in which
the Executive's Effective Date of Termination occurs,
multiplied by a fraction, the numerator of which is the
number of days completed in the then-existing fiscal year
through the Effective Date of Termination and the
denominator of which is three hundred sixty-five (365).

          (e)  A continuation for thirty-six (36) months
after the Effective Date of Termination of the welfare
benefits (including medical, prescription, dental,
disability, salary continuation, individual life, group
life, accidental death, and travel accident insurance plans
and programs) which are at least as favorable as the most
favorable plans and programs as applicable to other peer
executives and their families as of the Effective Date of
Termination, but which are in no event less favorable than
the most favorable plans and programs applicable to other
peer executives and their families during the ninety (90)
day period immediately before the Effective date.

                             6

<PAGE>

          (f)  These benefits shall be provided to the
Executive at the same premium cost, and at the same coverage
level, as in effect as of the Executive's Effective Date of
Termination. However, in the event the premium cost and/or
level of coverage shall change for all employees of the
Company, or for management employees with respect to
supplemental benefits, the cost and/or coverage level,
likewise, shall change for the Executive in a corresponding
manner.

The continuation of these welfare benefits shall be
discontinued prior to the end of the thirty-six (36) month
period in the event the Executive has available
substantially similar benefits at a comparable cost from a
subsequent employer, as determined by the Committee.

     In the event the Executive became entitled to receive
Severance Benefits, as provided in Paragraphs 3.1 and 3.2
herein, the Executive shall immediately be fully vested in
all benefits accrued by the Executive under The Earthgrains
Company Supplemental Executive Retirement Plan (the "SERP"),
and successor plans thereto sponsored by the Company. The
aggregate benefits accrued by the Executive as of the
Effective Date of Termination under the The Earthgrains
Company 401(k) Restoration Plan, the SERP, and successor
plans thereto sponsored by the Company shall be paid in cash
to the Executive in a single lump sum as soon as practical
following the Effective Date of Termination. For purposes of
the Company's nonqualified retirement plans, such benefits
shall be calculated under the assumption that the
Executive's employment continued following the Effective
Date of Termination for thirty-six (36) months (i.e., three
(3) additional years of age and service credits shall be
added); provided, however, that for purposes of determining
"final average pay" under such programs, the Executive's
actual pay history as of the Effective Date of Termination
shall be used.

     3.4  Notice of Termination. Any termination of
employment by the Company or by the Executive for Good
Reason shall be communicated by a Notice of Termination.

Once a Notice of Termination has been provided, the
Executive's subsequent death or disability shall have no
effect upon such executive's right, or the right of such
executive's estate, to collect the Severance Benefits.

Article 4.  Form and Timing of Severance Benefits

     4.1  Form and Timing of Severance Benefits. The
Severance Benefits described in Paragraphs 3.3(a), 3.3(b),
3.3(c), and 3.3(d) herein shall be paid in cash to the
Executive in a single lump sum as soon as practicable
following the Effective Date of Termination, but in no event
beyond thirty (30) days from such date.

     4.2  Withholding of Taxes. The Company shall be
entitled to withhold from any amounts payable under this
Agreement all taxes as legally shall be required (including,
without limitation, any United States federal taxes and any
other state, city, or local taxes).

Article 5.  Excise Tax Equalization Payment

     5.1  Excise Tax Equalization Payment. In the event that
the Executive becomes entitled to Severance Benefits or any
other payment or benefit under this Agreement, or under any
other agreement with or plan of the company (in the
aggregate, the "Total Payments"), if all or any part of

                             7

<PAGE>

the Total Payments will be subject to the tax (the "Excise
Tax") imposed by Section 4999 of the Code or any similar tax
that may hereafter be imposed ("Section 4999), the Company
shall pay to the Executive in cash an additional amount (the
"Gross-Up Payment") which after deduction of: (i) any Excise
Tax under Section 4999 thereon; (ii) any federal, state, and
local income tax thereon; and (iii) any F.I.C.A tax thereon
shall be equal to the Excise Tax on such Total Payments. The
Gross-Up Payment shall be made by the Company to the
Executive as soon as practical following the Effective Date
of Termination, but in no event beyond thirty (30) days from
such date.

     5.2  Tax Computation. For purposes of determining
whether any of the Total Payments will be subject to the
Excise Tax and the amounts of such Excise Tax:

          (a)  Any other payments or benefits received or to
be received by the Executive in connection with a Change in
Control of the Company or the Executive's termination of
employment (whether pursuant to the terms of this Agreement
or any other plan, arrangement, or agreement with the
Company, or with any Person whose actions result in a Change
in Control of the Company or any Person affiliated with the
Company or such Persons) shall be treated as "parachute
payments" within the meaning of Paragraph 280G(b)(2) of the
Code, and all "excess parachute payments" within the meaning
of Paragraph 280G(b)(1) shall be treated as subject to the
Excise Tax, unless in the opinion of tax counsel as
supported by the Company's independent auditors and
acceptable to the Executive, such other payments or benefits
(in whole or in part) do not constitute parachute payments,
or unless such excess parachute payments (in whole or in
part) represent reasonable compensation for services
actually rendered within the meaning of Paragraph 280G(b)(4)
of the Code in excess of the base amount within the meaning
of Paragraph 280G(b)(3) of the Code, or are otherwise not
subject to the Excise Tax;

          (b)  The amount of the Total Payments which shall
be treated as subject to the Excise Tax shall be equal to
the lesser of: (i) the total amount of the Total Payments;
or (ii) the amount of excess parachute payments within the
meaning of Paragraph 280G(b)(1) (after applying clause (a)
above); and

          (c)  The value of any noncash benefits or any
deferred payment or benefit shall be determined by the
Company's independent auditors in accordance with the
principles of Paragraphs 280G(d)(3) and (4) of the Code.

     For purposes of determining the amount of the Gross-Up
Payment, the Executive shall be deemed to pay federal income
taxes at the highest marginal rate of federal income
taxation in the calendar year in which the Gross-Up Payment
is to be made, and state and local income taxes at the
highest marginal rate of taxation in the state and locality
of the Executive's residence on the Effective Date of
Termination, net of the maximum reduction in federal income
taxes which could be obtained from deduction of such state
and local taxes.

     5.3  Subsequent Recalculation. In the event the
Internal Revenue Service adjusts the computation of the
Company under Paragraph 5.2 herein so that the Executive did
not receive the

                             8

<PAGE>

greatest net benefit, the Company shall reimburse the
Executive for the full amount necessary to make the
Executive whole, plus a market rate of interest, as
determined by the Committee.

     Article 6.  Establishment of Trust

     As soon as practicable following the Effective Date
hereof, the Company shall create a Trust (which shall be a
grantor trust within the meaning of Paragraphs 671-678 of
the Internal Revenue Code) for the benefit of the Executive
and Beneficiaries, as appropriate. The Trust shall have a
Trustee as selected by the Company, and shall have certain
restrictions as to the Company's ability to amend the Trust
or cancel benefits provided thereunder. Any assets contained
in the Trust shall, at all times, be specifically subject to
the claims of the Company's general creditors in the event
of bankruptcy or insolvency; such terms to be specifically
defined within the provisions of the Trust, along with the
required procedure for notifying the Trustee of any
bankruptcy or insolvency.

     At any time following the Effective Date hereof, the
Company may, but is not obligated to, deposit assets in the
Trust in an amount equal to or less than the aggregate
Severance Benefits with may become due to the Executive
under Paragraphs 3.3 and 5.1 of this Agreement.

     Upon a Change in Control, the Trust shall become
irrevocable and the Company shall deposit assets in such
Trust in an amount equal to the aggregate Severance Benefits
which may become due to the Executive under Paragraphs 3.3
and 5.1 of this Agreement.

Article 7.  Mitigation

     The Executive shall not be obligated to seek other
employment in mitigation of the amounts payable or
arrangements made under any provision of this Agreement, and
the obtaining of any such other employment shall in no event
effect any reduction of the Company's obligations to make
the payments and arrangements required to be made under this
Agreement, except to the extent provided in Paragraph 3.3(e)
herein.

Article 8.  Confidentiality and Noncompetition

     8.1  Confidentiality. During the term of this Agreement
and thereafter in perpetuity, the Employee will not directly
or indirectly divulge or appropriate to his own use, or to
the use of any third party, "trade secrets" (as defined in
Paragraph 8.3), other secret or confidential information,
knowledge or financial information of the Company or any of
the Company's subsidiaries or affiliates (hereinafter, the
Company and its subsidiaries and affiliates shall be
collectively referred to as the "Company Group"), except as
may be in the public domain other than by violation of this
Agreement.

     8.2  Noncompetition. From the date hereof until two (2)
years after the termination of his employment hereunder, the
Executive will not (i) directly or indirectly own any equity
or proprietary interest in (except for ownership of shares
in a publicly traded company not exceeding five percent (5%)
of any class of outstanding securities), or be an employee,
agent, director, advisor, or consultant to or for any
corporation (other than the Company Group), business
enterprise or any person engaged anywhere in the United
States of America whether on his own behalf or on behalf of
any person other than the Company Group, in [the
manufacture, procuring, sale, marketing, promotion or
distribution of any product or product lines functioning
competitively with any product or product lines] of the
Company Group during the term of this Agreement, and the
Executive will not assist in, manage or supervise any of the
foregone activities; (ii) undertake any action to induce or
cause any

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customer or client or the Company Group to discontinue any
part of its business with the Company Group; (iii) cause,
induce or in any way facilitate the employment by any other
persons or organization of any employee of or consultant to
the Company Group, provided, that this covenant shall become
operative only upon the termination of the Executive's
employment; or (iv) take or assist directly or indirectly in
the taking, by action as consultant to a third party or
otherwise of any position on any matter involving the
Company and pending before any state or other public agency,
when such position is adverse to the position being promoted
by or such agency at the time by the Company.

     8.3  Trade Secrets. "Trade secrets" as used herein
means all secret discoveries, invention, formulae, designs,
methods, processes, techniques of production and know-how
relating to the Company Group's business. "Confidential
Information" as used herein means the Company Group's
internal policies and procedures, suppliers, customers,
financial information and marketing practices, as well as
secret discoveries, inventions, formulae, designs,
techniques of production, know-how and other information
relating to the Company Group's business not rising to the
level of a trade secret under applicable law.

     8.4  Breach.  The breach by the Employee of any of the
covenant continued in this Article 8 shall rely the company
of all further payment obligation under Paragraph 3.3 and
5.1 of this Agreement.

Article 9.  Legal Remedies

     9.1  Payment of Legal Fees.  To the extent permitted by
law and in the event the Executive prevails in any judicial
and/or arbitration proceeding, the Company shall pay all
legal fees, costs of litigation, prejudgment interest, and
other expenses incurred in good faith by the Executive as a
result of:

          (a)  The Company's refusal to provide the
Severance Benefits to which the Executive becomes entitled
under this Agreement;

          (b)  The Company's contesting the validity,
enforceability, or interpretation of this Agreement; or

          (c)  Conflict (including conflicts related to the
calculation of parachute payments) between the parties
pertaining to this Agreement.

     9.2  Arbitration.

          (a)  Any dispute, controversy, or claim arising
out of or relating to this Agreement and/or any renewals,
extensions, changes, amendments, additions, or modifications
of or to this Agreement, or the breach, termination, or
invalidity of any of the foregoing, shall be finally
resolved by arbitration.

          (b)  The arbitration shall be conducted in
accordance with the Commercial Arbitration Rules of the
American Arbitration Association ("the Rules") to the extent
that the Rules do not conflict with any provision of this
Paragraph 8.2.

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          (c)  The arbitration shall be heard and determined
by one arbitrator selected in accordance with the Rules.

          (d)  The arbitration, including the rendering of
the award, shall take place in the County of St. Louis
County, Missouri.

          (e)  Any arbitration proceeding shall be conducted
on a confidential basis.

          (f)  The arbitrator shall interpret this Agreement
and render an award, order, or judgement in accordance with
the substantive laws of the State of Missouri, and if the
arbitrator fails to do so, the arbitrator shall be deemed to
have exceeded his or her powers.

          (g)  The arbitrator shall decide only those issues
submitted to him or her in the notice and answering
statement (and counterclaim and answering statement hereto,
if any) and any award, order, or judgement, or portion
thereof, which goes beyond the scope of such issues shall be
void and shall be deemed to have been rendered in excess of
the arbitrator's powers.

          (h)  Any award, order, or judgement shall in
included in a written decision which shall contain detailed
findings of fact and conclusions of law, including, but not
limited to, all the elements involved in the calculation of
any award of damages.

          (i)  The arbitrator is not authorized to award
punitive or exemplary damages.

          (j)  All of the reasonable legal fees and expenses
incurred by the Executive and all arbitration costs will be
paid by the Company, unless prohibited by law. The Company
further agrees to pay prejudgement interest on any money
judgement obtained by the Executive calculated at the prime
interest rate reported in The Wall Street Journal in effect
from time to time from the date that payment to the
Executive should have been made under this Agreement.

          (k)  Any award, order, or judgement made pursuant
to such arbitration shall be deemed final and may be entered
and enforced in any state or federal court of competent
jurisdiction. The parties agree to submit to the
jurisdiction of any such court for purposes of the
enforcement of any such award, order, or judgment.

Article 10.  Outplacement Assistance

     Following a Qualifying Termination, the Executive shall
be reimbursed by the Company for the costs of all
outplacement services obtained by the Executive within the
two (2) year period after the Effective Date of Termination;
provided, however, that the total reimbursement shall be
limited to an amount equal to the lesser of seventy-five
thousand dollars ($75,000) or fifteen percent (15%) of the
Executive's Base Salary as of the Effective Date of
Termination.

Article 11.  Successors and Assignment

     11.1  Successors to the Company. The Company will
require any successor (whether direct or indirect, by
purchase, merger, consolidation, or otherwise) of all or
substantially all of the business

                             11

<PAGE>

and/or assets of the Company or of any division or
subsidiary thereof to expressly assume and agree to perform
the Company's obligations under this Agreement in the same
manner and to the same extent that the Company would be
required to perform them if no such succession had taken
place. The date on which any such succession becomes
effective shall be deemed to be the date of the Change in
Control.

     11.2  Assignment by the Executive. This Agreement shall
inure to the benefit of and be enforceable by the
Executive's personal or legal representatives, executors,
administrators, successors, heirs, distributees, devisees,
and legatees. If the Executive dies while any amount would
still be payable to him hereunder had he continued to live,
all such amounts, unless otherwise provided herein, shall be
paid in accordance with the terms of this Agreement to the
Executive's Beneficiary. If the Executive has not named a
Beneficiary, then such amounts shall be paid to the
Executive's devisee, legatee, or other designee, or if there
is no such designee, to the Executive's estate.

Article 12.  Miscellaneous

     12.1  Employment Status. Except as may be provided
under any other agreement between the Executive and the
Company, the employment of the Executive by the Company is
"at will," and may be terminated by either the Executive or
the Company at any time, subject to applicable law.

     12.2  Beneficiaries. The Executive may designate one or
more persons or entities as the primary and/or contingent
Beneficiaries of any Severance Benefits owing to the
Executive under this Agreement. Such designation must be in
the form of a signed writing acceptable to the Committee.
The Executive may make or change such designations at any
time.

     12.3  Severability. In the event any provision of this
Agreement shall be held illegal or invalid for any reason,
the illegality or invalidity shall not affect the remaining
parts of the Agreement, and the Agreement shall be construed
and enforced as if the illegal or invalid provision had not
been included. Further, the captions of this Agreement are
not part of the provisions hereof and shall have no force
and effect.

     12.4  Modification. No provision of this Agreement may
be modified, waived, or discharged unless such modification,
waiver, or discharge is agreed to in writing and signed by
the Executive and by an authorized member of the Committee,
or by the respective parties' legal representatives and
successors.

     12.5  Applicable Law. To the extent not preempted by
the laws of the United States, the laws of the state of
Delaware shall be the controlling law in all matters
relating to this Agreement.

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