Document:

EXHIBIT 10.1

RESTRICTED STOCK UNIT AGREEMENT

 

THIS RESTRICTED STOCK UNIT AGREEMENT  (“Agreement”) is made effective as of the grant date set forth below by and between SYNOVUS FINANCIAL CORP., a Georgia corporation (the “Corporation”), and ___________________ (“Executive”).

 

WHEREAS, Executive has been awarded Restricted Stock Units (“RSUs”) under the Corporation’s 2007 Omnibus Plan (“Plan”).

 

NOW, THEREFORE, in accordance with the provisions of the Plan and this Agreement, Executive hereby agrees to the following terms and conditions:

 

	
            1.
 	
            Grant of RSUs
 

 

	
             
 	
            Executive is hereby granted RSUs as follows:
 

 

	
             
 	
            Date of Grant:
 	
            _____________, 200__
 

 

	
             
 	
            Vesting Period:
 	
            Please refer to Section 2 of this Agreement
 

 

	
             
 	
            Total Number of RSUs:
 	
            _____________
 

 

	
            2.
 	
            Vesting of RSUs
 

 

(a)        Vesting Conditions.  If Executive remains in the continuous employ of the Corporation or a Subsidiary of the Corporation through the date(s) indicated in Column I below, the RSUs will become non-forfeitable (i.e., “vest”) to the extent indicated in Column II below:

 

	
             
 	
            (I)  
 	
            (II)
 

	
             
 	
            If employment  
 	
            the % of the RSUs
 

	
             
 	
            continues through  
 	
            then  
 	
            which vest is   
 

 

	
             
 	
            ____________, 200__
 	
            100%
 

 

	
             
 	
            [or]
 

 

	
             
 	
            ____________, 200__
 	
            ___%
 

 

	
             
 	
            [or]
 

 

	
             
 	
            ____________, 200__
 	
            ___%
 

 

	
             
 	
            [or]
 

 

	
             
 	
            ____________, 200__
 	
            ___%
 

 

	
             
 	
            [or]
 

 

	
             
 	
            ____________, 200__
 	
            ___%
 

 

	
             
 	
            [or]
 

 

	
             
 	
            ____________, 200__
 	
            ___%
 

 

 

Such vesting will occur (to the extent indicated in Column (II) above) at the close of business on the applicable date(s) indicated in Column (I) above.  Any RSUs which are not vested on the date of Executive’s termination of employment will be forfeited to the Corporation, unless the Compensation Committee in its sole and exclusive discretion determines otherwise.

 

(b)        Effect of Voluntary Termination or Termination for Cause or Suicide.  If Executive’s employment with the Corporation and its Subsidiaries is terminated:  (i) by Executive voluntarily or (ii) by the Corporation or a Subsidiary for Cause or (iii) by Executive’s death due to suicide before all RSUs vest pursuant to the provisions of paragraph 4(a) above, then any RSUs which are not vested at the time of such termination will be forfeited to the Corporation on the date of such termination, unless the Compensation Committee in its sole and exclusive discretion determines otherwise.

 

(c)        Effect of Death (Other Than by Suicide) or Disability.  If Executive’s employment with the Corporation and its Subsidiaries terminates by reason of Executive’s death (other than by suicide) or Disability, then any RSUs which are not vested at the time of such termination will become vested automatically.

 

(d)        Effect of Retirement or Leave of Absence.  If Executive’s employment with the Corporation and its Subsidiaries is terminated by reason of Executive’s retirement after attainment of age 62 and 15 years of Service, then any RSUs which are not vested at the time of such retirement will become vested automatically.  A leave of absence which is approved in writing by the Compensation Committee with specific reference to this Agreement will not be considered a termination of Executive’s employment with the Corporation and its Subsidiaries for purposes of this Section 2 or any other provision of this Agreement.

 

(e)        In the event of a Change of Control (as defined in the Plan), the RSUs will vest immediately upon such Change of Control.

 

(f)         No Forfeiture of Vested RSUs.  Any RSUs which vest pursuant to the preceding provisions of this Section 2 will not thereafter be forfeited.

 

	
            3.
 	
            Conversion of RSUs and Issuance of Shares
 

 

Upon vesting of the RSUs, one share of the Corporation’s Common Stock shall be issued for each RSU that vests on such vesting date, subject to the terms and conditions of this Agreement and the Plan.

 

2

	
            4.
 	
            Transfer of RSUs
 

 

Unless otherwise permitted by the Committee, the RSUs may not be sold, transferred, pledged, assigned or otherwise alienated or hypothecated, other than pursuant to a will or the laws of descent and distribution.  Any attempted disposition in violation of this Agreement and the Plan shall be void.

 

	
            5.
 	
            Status of Executive
 

 

The Executive shall not be, or have rights as, a stockholder of the Corporation with respect to any of the shares of Common Stock subject to the RSUs unless such RSUs have vested, and shares underlying the RSUs have been issued and delivered to him or her.  The Corporation shall not be required to issue or transfer any certificates for shares of Common Stock upon vesting of the RSUs until all applicable requirements of law have been complied with and such shares have been duly listed on any securities exchange on which the Common Stock may then be listed.

 

	
            6.
 	
            Dividend Equivalents
 

 

Until the Executive’s employment with the Corporation and its Subsidiaries is terminated for any reason, or until such time as the RSUs vest, whichever occurs first, the Corporation will pay the Executive a cash amount equal to the number of RSUs subject to restriction times the per share quarterly dividend payments made to shareholders of the Corporation’s Common Stock, with such payments to be made reasonably promptly after the payment date of each quarterly dividend.

 

	
            7.
 	
            General Provisions
 

 

(a)        Administration, Interpretation and Construction.  The terms and conditions set forth in this Agreement will be administered, interpreted and construed by the Compensation Committee, whose decisions will be final, conclusive and binding on the Corporation, on Executive and on anyone claiming under or through the Corporation or Executive.  Without limiting the generality of the foregoing, any determination as to whether an event has occurred or failed to occur which causes the RSUs to be forfeited pursuant to the terms and conditions set forth in this Agreement, will be made in the good faith but absolute discretion of the Compensation Committee.  By accepting the transfer of RSUs, Executive irrevocably consents and agrees to the terms and conditions set forth in this Agreement and to all
actions, decisions and determinations to be taken or made by the Compensation Committee in good faith pursuant to the terms and conditions set forth in this Agreement.

 

(b)        Withholding.  The Corporation will have the right to withhold from any payments to be made to Executive (whether under this Agreement or otherwise) any taxes the Corporation determines it is required to withhold with respect to Executive under the laws and regulations of any governmental authority, whether Federal, state or local and whether domestic or foreign, in connection with this Agreement, including, without limitation, taxes in connection with the transfer of RSUs or the lapse of restrictions on RSUs.  Failure to submit any such withholding taxes shall be deemed to cause otherwise lapsed restrictions on RSUs not to lapse.

 

3

(c)        Rights Not Assignable or Transferable.  No rights under this Agreement will be assignable or transferable other than by will or the laws of descent and distribution, either voluntarily, or, to the full extent permitted by law, involuntarily, by way of encumbrance, pledge, attachment, levy or charge of any nature except as otherwise provided in this Agreement.  Executive’s rights under this Agreement will be exercisable during Executive’s lifetime only by Executive or by Executive’s guardian or legal representative.

 

(d)        Terms and Conditions Binding.  The terms and conditions set forth in the Plan and in this Agreement will be binding upon and inure to the benefit of the Corporation, its successors and assigns, including any assignee of the Corporation and any successor to the Corporation by merger, consolidation or otherwise, and Executive, Executive’s heirs, devisees and legal representatives.  In addition, the terms and conditions set forth in the Plan and in this Agreement will be binding upon and inure to the benefit of Mellon and its successors and assigns.

 

(e)        No Employment Rights.  No provision of this Agreement or the Plan will be deemed to confer upon Executive any right to continue in the employ of the Corporation or a Subsidiary or will in any way affect the right of the Corporation or a Subsidiary to dismiss or otherwise terminate Executive’s employment at any time for any reason with or without cause, or will be construed to impose upon the Corporation or a Subsidiary any liability for any forfeiture of RSUs which may result under this Agreement if Executive’s employment is so terminated.

 

(f)         No Liability for Good Faith Business Acts or Omissions.  Executive recognizes and agrees that the Compensation Committee, the Board, or the officers, agents or employees of the Corporation and its Subsidiaries, in their oversight or conduct of the business and affairs of the Corporation and its Subsidiaries, may in good faith cause the Corporation or a Subsidiary to act, or to omit to act, in a manner that may, directly or indirectly, prevent the RSUs from vesting.  No provision of this Agreement will be interpreted or construed to impose any liability upon the Corporation, a Subsidiary, the Compensation Committee, Board or any officer, agent or employee of the Corporation or a Subsidiary, for any forfeiture of RSUs that may result, directly or indirectly, from any such action or omission.

 

(g)        Recapitalization.  In the event that Executive receives, with respect to RSUs, any securities or other property (other than cash dividends) as a result of any stock dividend or split, spin-off, recapitalization, merger, consolidation, combination or exchange of shares or a similar corporate change, any such securities or other property received by Executive will likewise be held by Mellon and be subject to the terms and conditions set forth in this Agreement and will be included in the term “RSUs.”

 

(h)        Appointment of Agent.  By accepting the transfer of RSUs, Executive irrevocably nominates, constitutes, and appoints Mellon as Executive’s agent for purposes of surrendering or transferring the RSUs to the Corporation upon any forfeiture required or authorized by this Agreement.  This power is intended as a power coupled with an interest and will survive Executive’s death.  In addition, it is intended as a durable power and will survive Executive’s disability.

 

4

(i)         Legal Representative.  In the event of Executive’s death or a judicial determination of Executive’s incompetence, reference in this Agreement to Executive shall be deemed, where appropriate, to Executive’s heirs or devises.

 

(j)         Titles.  The titles to sections or paragraphs of this Agreement are intended solely for convenience and no provision of this Agreement is to be construed by reference to the title of any section or paragraph.

 

(k)        Plan Governs.  The RSUs are being transferred to Executive pursuant to and subject to the Plan, a copy of which is available upon request to the Corporate Secretary of the Corporation.  The provisions of the Plan are incorporated herein by this reference, and all capitalized terms in this Agreement shall have the same meanings given to such terms in the Plan.  The terms and conditions set forth in this Agreement will be administered, interpreted and construed in accordance with the Plan, and any such term or condition which cannot be so administered, interpreted or construed will to that extent be disregarded.

 

(l)         Complete Agreement.  This instrument contains the entire agreement of the parties relating to the subject matter of this Agreement and supersedes and replaces all prior agreements and understandings with respect to such subject matter.  The parties hereto have made no agreements, representations or warranties relating to the subject matter of this Agreement which are not set forth herein or incorporated by reference.

 

(m)       Amendment; Modification; Wavier.  No provision set forth in this Agreement may be amended, modified or waived unless such amendment, modification or waiver shall be authorized by the Compensation Committee and shall be agreed to in writing, signed by Executive and by an officer of the Corporation duly authorized to do so.  No waiver by either party hereto of any breach by the other party of any condition or provision set forth in this Agreement to be performed by such other party will be deemed a waiver of a subsequent breach of such condition or provision, or will be deemed a waiver of a similar or dissimilar provision or condition at the same time or at any prior or subsequent time.

 

(n)        Governing Law.  The validity, interpretation, performance and enforcement of the terms and conditions set forth in this Agreement will be governed by the laws of the State of Georgia, the state in which the Corporation is incorporated, without giving effect to the principles of conflicts of law of that state.

 

The Corporation has issued the RSUs in accordance with the foregoing terms and conditions and in accordance with the provisions of the Plan.  By signing below, Executive hereby agrees to the foregoing terms and conditions of the RSUs.

 

IN WITNESS WHEREOF, Executive has set Executive’s hand and seal, effective as of the date and year set forth above.

 

 

	
             
 	
            ____________________________________________(L.S.)
 

 

 

5termsdoc07-a11re.htm

    
 

     

     

     

     

    Exhibit
      4.1

    
 

    CITIBANK
      CREDIT CARD ISSUANCE TRUST

    

    Citiseries

    Class
      2007-A11 Notes

    (Issuance
      Date January 10, 2008)

    

    Issuer
      Certificate

    Pursuant
      to Sections 202 and 301(h) of the Indenture

    

    Reference
      is made to the Indenture, dated as of September 26, 2000, as amended by
      Amendment No. 1 thereto dated as of November 14, 2001, each between Citibank
      Credit Card Issuance Trust (the "Issuer") and Deutsche Bank Trust Company
      Americas, as trustee (the "Indenture").  Capitalized terms used herein
      that are not otherwise defined have the meanings set forth in the Indenture.
      All
      references herein to designated Sections are to the designated Sections of
      the
      Indenture.

    

    Section
      301(h) provides that the Issuer may from time to time create a tranche of Notes
      either by or pursuant to an Issuer Certificate setting forth the principal
      terms
      thereof.  Pursuant to an Issuer Certificate dated December 10, 2007, a
      tranche of Notes of the Citiseries designated Class 2007-A11 was established,
      of
      which $900,000,000 Outstanding Dollar Principal Amount is Outstanding (the
      "Outstanding 2007-A11 Notes").  This Issuer Certificate relates to
      additional Notes of Class 2007-A11 (hereinafter, the "New Class 2007-A11 Notes",
      and together with the Outstanding Class 2007-A11 Notes, the "Class 2007-A11
      Notes") having the following terms:

    

    Series
      Designation:  Citiseries.  This series is included
      in Group 1.

    

    Tranche
      Designation:  $1,200,000,000 Floating Rate Class 2007-A11
      Notes of January 2015 (Legal Maturity Date January 2017)

    

    Currency:  The
      Class 2007-A11 Notes will be payable, and denominated, in Dollars.

    

    Denominations:  The
      New Class 2007-A11 Notes will be issuable in minimum denominations of $100,000
      and multiples of $1,000 in excess of that amount.

    

    Issuance
      Date:  January 10, 2008

    

    Initial
      Principal Amount:  $300,000,000

    

    Issue
      Price:  99.822%

    

    Interest
      Rate:  Interest will accrue on the New Class 2007-A11 Notes
      from January 10, 2008.  The Class 2007-A11 Notes will accrue interest
      with respect to any interest period at a per annum rate equal to the Class
      2007-A11 Note Rate for such interest period, calculated on the basis of the
      actual number of days in such interest period divided by 360.  The
      "Class 2007-A11 Note Rate" means, with respect to the interest period that
      begins on January 10, 2008, 4.96125% per annum and, with respect to each
      interest period thereafter, a per annum rate equal to LIBOR for such interest
      period plus 0.55%.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    The
      Issuer will determine LIBOR for each applicable interest period on the second
      business day before the beginning of that interest period.  For
      purposes of calculating LIBOR, a business day is any day on which dealings
      in
      deposits in U.S. Dollars are transacted in the London interbank
      market.

    

    "LIBOR"
      means, as of any date of determination, the rate for deposits in U.S. Dollars
      for the Designated Maturity (commencing on the first day of the relevant
      interest period) which appears on the Reuters Screen LIBOR01 Page as of 11:00
      a.m., London time, on such date. If such rate does not appear on the Reuters
      Screen LIBOR01 Page, the rate for that day will be determined on the basis
      of
      the rates at which deposits in U.S. 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 the Designated Maturity (commencing on the first
      day
      of the relevant interest period). The Issuer 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 day will be the
      arithmetic mean of the quotations. If fewer than two quotations are provided
      as
      requested, the rate for that day will be the arithmetic mean of the rates quoted
      by major banks in New York City, selected by the Issuer, at approximately 11:00
      a.m., New York City time, on that day for loans in U.S. Dollars to leading
      European banks for a period of the Designated Maturity (commencing on the first
      day of the relevant interest period).

    

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

    

    "Designated
      Maturity" means one month.

    

    "Reference
      Banks" means four major banks in the London interbank market selected by
      the Issuer.

    

    Scheduled
      Interest Payment Dates:  The 10th
      day of each month,
      beginning February 2008.

    

    Each
      payment of interest on the New Class 2007-A11 Notes will include all interest
      accrued from and including the preceding Interest Payment Date -- or, for the
      interest period that begins on January 10, 2008, from and including January
      10, 2008 -- to and including the day preceding the current Interest Payment
      Date, plus any interest accrued but not previously paid.

    

    The
      first
      deposit targeted to be made to the Interest Funding sub-Account for the Class
      2007-A11 Notes with respect to the New Class 2007-A11 Notes will be on the
      February 8, 2008 Interest Deposit Date and in an amount equal to
      $1,323,000.00.

    

    Expected
      Principal Payment Date:  January 12, 2015

    

    Legal
      Maturity Date:  January 10, 2017

    

    Monthly
      Principal Date:  For the month in which the Expected
      Principal Payment Date occurs, January 12, 2015, and for each other month,
      the
      10th day of
      such month, or if such day is not a Business Day, the next following Business
      Day.

    

    Required
      Subordinated Amount of Class B
      Notes:  $17,948,730.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    Required
      Subordinated Amount of Class C
      Notes:  $23,931,630.

    

    Controlled
      Accumulation Amount:  $25,000,000.

    

    Form
      of Notes:  The New Class 2007-A11 Notes will be issued as
      Global Notes.  The Global Notes will initially be registered in the
      name of Cede & Co., as nominee of The Depository Trust Company, and will be
      exchangeable for individual Notes only in accordance with the provisions of
      Section 204(c).

    

    Additional
      Issuances of Class 2007-A11 Notes:  The Issuer may at any
      time and from time to time issue additional Class 2007-A11 Notes, subject to
      the
      satisfaction of (i) the conditions precedent set forth in Section 311(a) and
      (ii) the following conditions:

    

    
      	
               

            	
              (a)
                the Issuer has obtained written confirmation from each Rating Agency
                that
                there will be no Ratings Effect with respect to the then outstanding
                Class
                2007-A11 Notes as a result of the issuance of such additional Class
                2007-A11 Notes;

            

    

    

    
      	
               

            	
              (b)
                as of the date of issuance of the additional Class 2007-A11 Notes,
                all
                amounts due and owing to the Holders of the then outstanding Class
                2007-A11 Notes have been paid and there is no Nominal Liquidation
                Amount
                Deficit with respect to the then outstanding Class 2007-A11
                Notes;

            

    

    

    
      	
               

            	
              (c)
                the additional Class 2007-A11 Notes will be fungible with the original
                Class 2007-A11 Notes for federal income tax
                purposes;

            

    

    

    
      	
               

            	
              (d)
                if Holders of the then outstanding Class 2007-A11 Notes have benefit
                of a
                Derivative Agreement, the Issuer will have obtained a Derivative
                Agreement
                for the benefit of the Holders of the additional Class 2007-A11 Notes;
                and

            

    

    

    
      	
               

            	
              (e)
                the ratio of the Controlled Accumulation Amount to the Initial Dollar
                Principal Amount of the Class 2007-A11 Notes, including the additional
                Class 2007-A11 Notes, will be equal to the ratio of the Controlled
                Accumulation Amount (before giving effect to the additional issuance)
                to
                the Initial Dollar Principal Amount of the Class 2007-A11 Notes,
                excluding
                the additional Class 2007-A11
                Notes.

            

    

    

    As
      of the
      date of issuance of additional Class 2007-A11 Notes, the Outstanding Dollar
      Principal Amount and Nominal Liquidation Amount of the Class 2007-A11 Notes
      will
      be increased to reflect the Initial Dollar Principal Amount of the additional
      Class 2007-A11 Notes.

    

    Any
      outstanding Class 2007-A11 Notes and any additional Class 2007-A11 Notes will
      be
      equally and ratably entitled to the benefits of the Indenture without
      preference, priority or distinction.

    

    Optional
      Redemption Provisions other than Section 1202 "Clean-Up
      Call":  None

    

    Additional
      Early Redemption Events or changes to Early Redemption
      Events:  None

    

    Additional
      Events of Default or changes to Events of
      Default:  None

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

    Business
      Day: means any day other than (a) a Saturday or Sunday or (b) any other
      day on which national banking associations or state banking institutions in
      New
      York, New York or South Dakota, or any other state in which the principal
      executive offices of any Additional Seller are located, are authorized or
      obligated by law, executive order or governmental decree to be
      closed.

    

    Securities
      Exchange Listing:  Application will be made to list the New
      Class 2007-A11 Notes on the Irish Stock Exchange.

    

    Provisions
      Relating to Issuance of New Class 2007-A11 Notes: The New Class
      2007-A11 Notes are part of the Class 2007-A11 Notes, and the Outstanding Class
      2007-A11 Notes and the New Class 2007-A11 Notes together constitute a single
      tranche of Class 2007-A11 Notes and will be equally and ratably entitled to
      the
      benefits of the Indenture without preference, priority or
      distinction.  The New Class 2007-A11 Notes are fungible with the
      Outstanding Class 2007-A11 Notes and are intended to trade interchangeably
      with
      the Outstanding Class 2007-A11 Notes.

    

    The
      Initial Dollar Principal Amount of the New Class 2007-A11 Notes is $300,000,000,
      and, after giving effect to the issuance of the New Class 2007-A11 Notes, the
      Initial Dollar Principal Amount of the Class 2007-A11 Notes will be the sum
      of
      the Initial Dollar Principal Amounts of the Outstanding Class 2007-A11 Notes
      and
      the New Class 2007-A11 Notes.

    

    The
      Nominal Liquidation Amount of the New Class 2007-A11 Notes is $300,000,000,
      and,
      after giving effect to the issuance of the New Class 2007-A11 Notes, the Nominal
      Liquidation Amount of the Class 2007-A11 Notes will be the sum of the Nominal
      Liquidation Amounts of the Outstanding Class 2007-A11 Notes and the New Class
      2007-A11 Notes.

    

    The
      Controlled Accumulation Amount of the New Class 2007-A11 Notes is $25,000,000,
      and, after giving effect to the issuance of the New Class 2007-A11 Notes, the
      Controlled Accumulation Amount of the Class 2007-A11 Notes will be the sum
      of
      the Controlled Accumulation Amounts of the Outstanding Class 2007-A11 Notes
      and
      the New Class 2007-A11 Notes.

    

    The
      Required Subordinated Amount of Class B Notes for the New Class 2007-A11 Notes
      is $17,948,730, and, after giving effect to the issuance of the New Class
      2007-A11 Notes, the Required Subordinated Amount of Class B Notes for the Class
      2007-A11 Notes will be the sum of the Required Subordinated Amounts of Class
      B
      Notes for the Outstanding Class 2007-A11 Notes and the New Class 2007-A11
      Notes.  The Required Subordinated Amount of Class C Notes for the New
      Class 2007-A11 Notes is $23,931,630, and, after giving effect to the issuance
      of
      the New Class 2007-A11 Notes, the Required Subordinated Amount of Class C Notes
      for the Class 2007-A11 Notes will be the sum of the Required Subordinated
      Amounts of Class C Notes for the Outstanding Class 2007-A11 Notes and the New
      Class 2007-A11 Notes.

    

    This
      Issuer Certificate and the Issuer Certificate relating to the Outstanding Class
      2007-A11 Notes together constitute the terms document for the Class 2007-A11
      Notes.

    

    

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    The
      New
      Class 2007-A11 Notes shall have such other terms as are set forth in the form
      of
      Note attached hereto as Exhibit A.  Pursuant to Section 202, the form
      of Note attached hereto has been approved by the Issuer.

    

    

    
      	 	
              CITIBANK
                CREDIT CARD ISSUANCE TRUST

            
	 	
              By        Citibank
                (South Dakota), National Association,

            
	 	
              as
                Managing
                Beneficiary

            
	 	 
	 	 
	 	 
	 	
              /s/
                Douglas C.
                Morrison

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

            
	 	
              Douglas
                C.
                Morrison

            
	 	
              Vice
                President

            

    

    

    Dated:  January
      10, 2008

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    Citiseries

    Class
      2007-A11 Notes

    (Issuance
      Date January 10, 2008)

    

    

    Reference
      is made to the resolutions adopted by the Board of Directors of Citibank (South
      Dakota), National Association ("Citibank (South Dakota)") on April 26, 2000,
      as
      amended on September 25, 2001 and October 25, 2006. The resolutions authorize
      Citibank (South Dakota) from time to time to issue and sell, or to arrange
      for
      or participate in the issuance and sale of, one or more series and/or classes
      of
      pass-through certificates, participation certificates, commercial paper, notes
      or other securities representing ownership interests in, or backed by, pools
      of
      credit card receivables or interests therein ("Receivables") in an aggregate
      principal amount such that up to $125,000,000,000 of such certificates,
      commercial paper, notes or securities are outstanding at any one time and to
      sell, transfer, convey or assign Receivables to trusts or other special purpose
      entities in connection therewith on such terms as to be determined by the
      Citibank (South Dakota) Pricing and Loan Committee (the "Pricing and Loan
      Committee").

    

    The
      undersigned, a duly authorized member of the Pricing and Loan Committee, on
      behalf of such Pricing and Loan Committee, does hereby certify that the terms
      of
      the New Class 2007-A11 Notes set forth in and to be created by the preceding
      Issuer Certificate and the increase in the Invested Amount of the Collateral
      Certificate resulting from the issuance of such Notes have been approved by
      such
      Pricing and Loan Committee. In addition, the following underwriting/selling
      agent terms with respect to the New Class 2007-A11 Notes have been approved
      by
      such Pricing and Loan Committee:

    

    Issue
      Price:  99.822%

    

    Underwriting
      Commission:  0.300%

    

    Proceeds
      to Issuer:  99.522%

    

    Representative
      of the Underwriters:  Citigroup Global Markets Inc.

    

    

    The
      preceding Issuer Certificate and this certification of Pricing and Loan
      Committee approval shall be, continuously from the time of their execution,
      official records of Citibank (South Dakota).

    

    

    

    
      	
              /s/
                Douglas
                C. Morrison

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

            
	
              Douglas
                C. Morrison

            
	
              Member
                of the Pricing and Loan Committee

            
	
              Citibank
                (South Dakota), National
                Association

            

    

    

    

    Dated:  January
      10, 2008

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    Exhibit
      A

    

    FORM
      OF

    

    CITISERIES

    

    FLOATING
      RATE CLASS 2007-A11 NOTES OF JANUARY 2015

    (Legal
      Maturity Date January 2017)

    

    

    
      	
              $300,000,000

            	 	
              REGISTERED

            
	
              CUSIP
                No. 17305E ED 3

            	 	
              No.
                R-3

            

    

    

    UNLESS
      THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
      COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE ISSUER OR ITS AGENT FOR
      REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE 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.

    

    THE
      PRINCIPAL OF THIS NOTE IS PAYABLE AS SET FORTH HEREIN AND IN THE INDENTURE
      REFERRED TO BELOW. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE
      AT
      ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.

    

    

    CITIBANK
      CREDIT CARD ISSUANCE TRUST

    

    CITISERIES

    

    FLOATING
      RATE CLASS 2007-A11 NOTES OF JANUARY 2015

    (Legal
      Maturity Date January 2017)

    

    

    CITIBANK
      CREDIT CARD ISSUANCE TRUST, a trust formed and existing under the laws of the
      State of Delaware (including any successor, the "Issuer"), for value received,
      hereby promises to pay to CEDE & CO., or its registered assigns, the
      principal amount of THREE HUNDRED MILLION DOLLARS ($300,000,000).  The
      Expected Principal Payment Date for this Note is January 12,
      2015.  The Legal Maturity Date for this Note is January 10,
      2017.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    The
      Issuer hereby promises to pay interest on this Note on the 10th day of
      each month,
      beginning February 2008, until the principal of this Note is paid or made
      available for payment, subject to certain limitations set forth in the
      Indenture.  Interest will accrue on the outstanding principal amount
      of this Note for each interest period in an amount equal to the product of
      (i)
      the actual number of days in such interest period divided by 360, (ii) a rate
      per annum equal to the Class 2007-A11 Note Rate for such interest period, and
      (iii) the outstanding principal amount of this Note as of the preceding Interest
      Payment Date (after giving effect to any payments of principal made on the
      preceding Interest Payment Date) or, in the case of the first Interest Payment
      Date, the initial principal amount of this Note.  The Class 2007-A11
      Note Rate will be determined as provided in the Indenture.

    

    If
      any
      Interest Payment Date or Principal Payment Date of this Note falls on a day
      that
      is not a Business Day, the required payment of interest or principal will be
      made on the following Business Day.

    

    This
      Note
      is one of the Citiseries, Class 2007-A11 Notes issued pursuant to the Indenture,
      dated as of September 26, 2000 (as amended and otherwise modified from time
      to
      time, the "Indenture") between the Issuer and Deutsche Bank Trust Company
      Americas, as Trustee. For purposes of this Note, the term "Indenture" includes
      any supplemental indenture or Issuer Certificate relating to the Citiseries,
      Class 2007-A11 Notes. This Note is subject to all of the terms of the Indenture.
      All terms used in this Note that are not otherwise defined herein and that
      are
      defined in the Indenture will have the meanings assigned to them
      therein.

    

    The
      principal of and interest on this Note are payable in such coin or currency
      of
      the United States of America as at the time of payment is legal tender for
      payment of public and private debts.

    

    Each
      Holder by acceptance of this Note, and each owner of a beneficial interest
      in
      this Note by acceptance of a beneficial interest in this Note, is deemed to
      have
      consented to such amendments to the Pooling and Servicing Agreement and other
      operative documents as are necessary to permit the Seller to retain sale
      treatment for accounting purposes of the transfer of assets to the Master Trust,
      in accordance with the provisions of Financial Accounting Standards Board SFAS
      No. 140.

    

    Reference
      is made to the further provisions of this Note set forth on the reverse hereof,
      which will have the same effect as though fully set forth on the face of this
      Note.

    

    Unless
      the certificate of authentication hereon has been executed by the Trustee whose
      name appears below by manual signature, this Note will not

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    be
      entitled to any benefit under the Indenture, or be valid or obligatory for
      any
      purpose.

    

    IN
      WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually
      or
      in facsimile, by an Issuer Authorized Officer.

    

    
      	 	
              CITIBANK
                CREDIT CARD ISSUANCE TRUST

            
	 	 
	 	
              By:       CITIBANK
                (SOUTH DAKOTA),

            
	 	
              NATIONAL
                ASSOCIATION,

            
	 	
              as
                Managing Beneficiary of

            
	 	
              Citibank
                Credit Card Issuance Trust

            
	 	 
	 	 
	 	
              By:
                __________________________________

            
	 	
              Douglas
                C.
                Morrison

            
	 	
              Vice
                President

            

    

    

    Dated:  January
      10, 2008

    

    

    

    

    TRUSTEE'S
      CERTIFICATE OF AUTHENTICATION

    

    

    This
      is
      one of the Notes designated above and referred to in the within mentioned
      Indenture.

    

    

    
      	 	
              DEUTSCHE
                BANK TRUST COMPANY AMERICAS,

            
	 	
              as
                Trustee under the Indenture

            
	 	 
	 	 
	 	
              By:
                _________________________________

            
	 	
              Authorized
                Signatory

            

    

    

    Dated:  January
      10, 2008

    

    

    

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    REVERSE
      OF NOTE

    

    This
      Note
      is one of a duly authorized issue of Notes of the Issuer, designated as its
      Citiseries Floating Rate Class 2007-A11 Notes of January 2015 (Legal Maturity
      Date January 2017) (herein called the "Notes"), all issued under an Indenture,
      to which Indenture reference is hereby made for a statement of the respective
      rights and obligations thereunder of the Issuer, the Trustee and the Holders
      of
      the Notes.

    

    This
      Note
      ranks pari passu with all other Class A Notes of the same series, as set forth
      in the Indenture. This Note is secured to the extent, and by the collateral,
      described in the Indenture.

    

    The
      Issuer will pay interest on overdue interest as set forth in the Indenture
      to
      the extent lawful.

    

    Each
      Holder by acceptance of this Note, and each owner of a beneficial interest
      in
      this Note by acceptance of a beneficial interest in this Note, agrees that
      no
      recourse may be taken, directly or indirectly, with respect to the obligations
      of the Issuer or the Trustee on the Notes, against the Issuer, the Issuer
      Trustee, Citibank (South Dakota), the Trustee or any affiliate, officer,
      employee or director of any of them, and the obligation of the Issuer to pay
      principal of or interest on this Note or any other amount payable to the Holder
      of this Note will be subject to Article V of the Indenture.

    

    Each
      Holder by acceptance of this Note, and each owner of a beneficial interest
      in
      this Note by acceptance of a beneficial interest in this Note, agrees that
      this
      Note is intended to be debt of Citibank (South Dakota) for federal, state and
      local income and franchise tax purposes, and agrees to treat this Note
      accordingly for all such purposes, unless otherwise required by a taxing
      authority.

    

    Each
      Holder by acceptance of this Note, and each owner of a beneficial interest
      in
      this Note by acceptance of a beneficial interest in this Note, agrees that
      it
      will not at any time institute against the Issuer, or join in any institution
      against the Issuer of, any bankruptcy, reorganization, arrangement, insolvency
      or liquidation proceeding, or other proceedings under any United States federal
      or state bankruptcy or similar law in connection with any obligations relating
      to this Note, the Indenture or any Derivative Agreement.

    

    This
      Note
      and the Indenture will be construed in accordance with and governed by the
      laws
      of the State of New York.

    

    No
      reference herein to the Indenture and no provision of this Note or of the
      Indenture will alter or impair the obligation of the Issuer, which is absolute
      and unconditional, to pay the principal of and interest on this Note at the
      times, place and rate, and in the coin or currency, herein
      prescribed.

    

    Certain
      amendments may be made to the Indenture without the consent of the Holder of
      this Note.  This Note must be surrendered for final payment of
      principal and interest.

    

    

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    ASSIGNMENT

    

    

    Social
      Security or taxpayer I.D. or other identifying number of
      assignee:____________________

    

    FOR
      VALUE
      RECEIVED, the undersigned hereby sells, assigns and transfers unto

    

    ___________________________________________________________________

    

    ___________________________________________________________________

    (name
      and
      address of assignee)

    

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

    

    Dated:  ____________________________

    

    _________________________*

    
      	
               

            	
              Signature
                Guaranteed:

            

    

    

    

    

    

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

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

    

    

    

     

     

    5

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