Document:

exv10w1

 

Exhibit 10.1

(Multicurrency — Cross Border)

ISDA®

International Swap Dealers Association, Inc.

MASTER AGREEMENT

dated as
of July 18, 2007

Wachovia Bank, National Association     and     Wright Express Corporation

			
	
(“Party A”)
	 	(“Party B”)

have entered and/or anticipate entering into one or more transactions (each a “Transaction”) that
are or will be governed by this Master Agreement, which includes the schedule (the “Schedule”), and
the documents and other confirming evidence (each a “Confirmation”) exchanged between the parties
confirming those Transactions.

Accordingly, the parties agree as follows: —

	1.	 	Interpretation

(a) Definitions. The terms defined in Section 14 and in the Schedule will have the meanings therein
specified for the purpose of this Master Agreement.

(b) Inconsistency. In the event of any inconsistency between the provisions of the Schedule and the
other provisions of this Master Agreement, the Schedule will prevail. In the event of any
inconsistency between the provisions of any Confirmation and this Master Agreement (including the
Schedule), such Confirmation will prevail for the purpose of the relevant Transaction.

(c) Single Agreement. All Transactions are entered into in reliance on the fact that this Master
Agreement and all Confirmations form a single agreement between the parties (collectively referred
to as this “Agreement”), and the parties would not otherwise enter into any Transactions.

	2.	 	Obligations

(a) General Conditions.

(i) Each party will make each payment or delivery specified in each Confirmation to be made
by it, subject to the other provisions of this Agreement.

(ii) Payments under this Agreement will be made on the due date for value on that date in
the place of the account specified in the relevant Confirmation or otherwise pursuant to
this Agreement, in freely transferable funds and in the manner customary for payments in
the required currency. Where settlement is by delivery (that is, other than by payment),
such delivery will be made for receipt on the due date in the manner customary for the
relevant obligation unless otherwise specified in the relevant Confirmation or elsewhere in
this Agreement.

(iii) Each obligation of each party under Section 2(a)(i) is subject to (1) the condition
precedent that no Event of Default or Potential Event of Default with respect to the other
party has occurred and is continuing, (2) the condition precedent that no Early Termination
Date in respect of the relevant Transaction has occurred or been effectively designated and
(3) each other applicable condition precedent specified in this Agreement.

Copyright ©1992 by International Swap Dealers Association, Inc.

 

 

(b) Change of Account. Either party may change its account for receiving a payment or delivery by
giving notice to the other party at least five Local Business Days prior to the scheduled date for
the payment or delivery to which such change applies unless such other party gives timely notice of
a reasonable objection to such change.

(c) Netting. If on any date amounts would otherwise be payable:—

	 	(i)	 	in the same currency; and
	 
	 	(ii)	 	in respect of the same Transaction,

by each party to the other, then, on such date, each party’s obligation to make payment of any such
amount will be automatically satisfied and discharged and, if the aggregate amount that would
otherwise have been payable by one party exceeds the aggregate amount that would otherwise have
been payable by the other party, replaced by an obligation upon the party by whom the larger
aggregate amount would have been payable to pay to the other party the excess of the larger
aggregate amount over the smaller aggregate amount.

The parties may elect in respect of two or more Transactions that a net amount will be determined
in respect of all amounts payable on the same date in the same currency in respect of such
Transactions, regardless of whether such amounts are payable in respect of the same Transaction.
The election may be made in the Schedule or a Confirmation by specifying that subparagraph (ii)
above will not apply to the Transactions identified as being subject to the election, together with
the starting date (in which case subparagraph (ii) above will not, or will cease to, apply to such
Transactions from such date). This election may be made separately for different groups of
Transactions and will apply separately to each pairing of Offices through which the parties make
and receive payments or deliveries.

(d) Deduction or Withholding for Tax.

(i) Gross-Up. All payments under this Agreement will be made without any deduction or
withholding for or on account of any Tax unless such deduction or withholding is required
by any applicable law, as modified by the practice of any relevant governmental revenue
authority, then in effect. If a party is so required to deduct or withhold, then that party
(“X”) will:—

(1) promptly notify the other party (“Y”) of such requirement;

(2) pay to the relevant authorities the full amount required to be deducted or
withheld (including the full amount required to be deducted or withheld from any
additional amount paid by X to Y under this Section 2(d)) promptly upon the earlier
of determining that such deduction or withholding is required or receiving notice
that such amount has been assessed against Y;

(3) promptly forward to Y an official receipt (or a certified copy), or other
documentation reasonably acceptable to Y, evidencing such payment to such
authorities; and

(4) if such Tax is an Indemnifiable Tax, pay to Y, in addition to the payment to
which Y is otherwise entitled under this Agreement, such additional amount as is
necessary to ensure that the net amount actually received by Y (free and clear of
Indemnifiable Taxes, whether assessed against X or Y) will equal the full amount Y
would have received had no such deduction or withholding been required. However, X
will not be required to pay any additional amount to Y to the extent that it would
not be required to be paid but for:—

(A) the failure by Y to comply with or perform any agreement contained in
Section 4(a)(i), 4(a)(iii) or 4(d); or

(B) the failure of a representation made by Y pursuant to Section 3(f) to be
accurate and true unless such failure would not have occurred but for (I) any
action taken by a taxing authority, or brought in a court of competent
jurisdiction, on or after the date on which a Transaction is entered into
(regardless of whether such action is taken or brought with respect to a party
to this Agreement) or (II) a Change in Tax Law.

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(ii) Liability. If: —

(1) X is required by any applicable law, as modified by the practice of any
relevant governmental revenue authority, to make any deduction or withholding in
respect of which X would not be required to pay an additional amount to Y under
Section 2(d)(i)(4);

(2) X does not so deduct or withhold; and

(3) a liability resulting from such Tax is assessed directly against X,

then, except to the extent Y has satisfied or then satisfies the liability resulting from
such Tax, Y will promptly pay to X the amount of such liability (including any related
liability for interest, but including any related liability for penalties only if Y has
failed to comply with or perform any agreement contained in Section 4(a)(i), 4(a)(iii) or
4(d)).

(e) Default Interest; Other Amounts. Prior to the occurrence or effective designation of an Early
Termination Date in respect of the relevant Transaction, a party that defaults in the performance
of any payment obligation will, to the extent permitted by law and subject to Section 6(c), be
required to pay interest (before as well as after judgment) on the overdue amount to the other
party on demand in the same currency as such overdue amount, for the period from (and including)
the original due date for payment to (but excluding) the date of actual payment, at the Default
Rate. Such interest will be calculated on the basis of daily compounding and the actual number of
days elapsed. If, prior to the occurrence or effective designation of an Early Termination Date in
respect of the relevant Transaction, a party defaults in the performance of any obligation required
to be settled by delivery, it will compensate the other party on demand if and to the extent
provided for in the relevant Confirmation or elsewhere in this Agreement.

	3.	 	Representations

Each party represents to the other party (which representations will be deemed to be repeated by
each party on each date on which a Transaction is entered into and, in the case of the
representations in Section 3(f), at all times until the termination of this Agreement) that:—

(a) Basic Representations.

(i) Status. It is duly organised and validly existing under the laws of the jurisdiction of
its organisation or incorporation and, if relevant under such laws, in good standing;

(ii) Powers. It has the power to execute this Agreement and any other documentation
relating to this Agreement to which it is a party, to deliver this Agreement and any other
documentation relating to this Agreement that it is required by this Agreement to deliver
and to perform its obligations under this Agreement and any obligations it has under any
Credit Support Document to which it is a party and has taken all necessary action to
authorise such execution, delivery and performance;

(iii) No Violation or Conflict. Such execution, delivery and performance do not violate or
conflict with any law applicable to it, any provision of its constitutional documents, any
order or judgment of any court or other agency of government applicable to it or any of its
assets or any contractual restriction binding on or affecting it or any of its assets;

(iv) Consents. All governmental and other consents that are required to have been obtained
by it with respect to this Agreement or any Credit Support Document to which it is a party
have been obtained and are in full force and effect and all conditions of any such consents
have been complied with; and

(v) Obligations Binding. Its obligations under this Agreement and any Credit Support
Document to which it is a party constitute its legal, valid and binding obligations,
enforceable in accordance with their respective terms (subject to applicable bankruptcy,
reorganisation, insolvency, moratorium or similar laws affecting creditors’ rights
generally and subject, as to enforceability, to equitable principles of general application
(regardless of whether enforcement is sought in a proceeding in equity or at law)).

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(b) Absence of Certain Events. No Event of Default or Potential Event of Default or, to its
knowledge, Termination Event with respect to it has occurred and is continuing and no such event or
circumstance would occur as a result of its entering into or performing its obligations under this
Agreement or any Credit Support Document to which it is a party.

(c) Absence of Litigation. There is not pending or, to its knowledge, threatened against it or any
of its Affiliates any action, suit or proceeding at law or in equity or before any court, tribunal,
governmental body, agency or official or any arbitrator that is likely to affect the legality,
validity or enforceability against it of this Agreement or any Credit Support Document to which it
is a party or its ability to perform its obligations under this Agreement or such Credit Support
Document.

(d) Accuracy of Specified Information. All applicable information that is furnished in writing by
or on behalf of it to the other party and is identified for the purpose of this Section 3(d) in the
Schedule is, as of the date of the information, true, accurate and complete in every material
respect.

(e) Payer Tax Representation. Each representation specified in the Schedule as being made by it for
the purpose of this Section 3(e) is accurate and true.

(f) Payee Tax Representations. Each representation specified in the Schedule as being made by it
for the purpose of this Section 3(f) is accurate and true.

	4.	 	Agreements

Each party agrees with the other that, so long as either party has or may have any obligation under
this Agreement or under any Credit Support Document to which it is a party:—

(a) Furnish Specified Information. It will deliver to the other party or, in certain cases under
subparagraph (iii) below, to such government or taxing authority as the other party reasonably
directs:—

(i) any forms, documents or certificates relating to taxation specified in the Schedule or
any Confirmation;

(ii) any other documents specified in the Schedule or any Confirmation; and

(iii) upon reasonable demand by such other party, any form or document that may be required
or reasonably requested in writing in order to allow such other party or its Credit Support
Provider to make a payment under this Agreement or any applicable Credit Support Document
without any deduction or withholding for or on account of any Tax or with such deduction or
withholding at a reduced rate (so long as the completion, execution or submission of such
form or document would not materially prejudice the legal or commercial position of the
party in receipt of such demand), with any such form or document to be accurate and
completed in a manner reasonably satisfactory to such other party and to be executed and to
be delivered with any reasonably required certification,

in each case by the date specified in the Schedule or such Confirmation or, if none is specified,
as soon as reasonably practicable.

(b) Maintain Authorisations. It will use all reasonable efforts to maintain in full force and
effect all consents of any governmental or other authority that are required to be obtained by it
with respect to this Agreement or any Credit Support Document to which it is a party and will use
all reasonable efforts to obtain any that may become necessary in the future.

(c) Comply with Laws. It will comply in all material respects with all applicable laws and orders
to which it may be subject if failure so to comply would materially impair its ability to perform
its obligations under this Agreement or any Credit Support Document to which it is a party.

(d) Tax Agreement. It will give notice of any failure of a representation made by it under Section
3(f) to be accurate and true promptly upon learning of such failure.

(e) Payment of Stamp Tax. Subject to Section 11, it will pay any Stamp Tax levied or imposed upon
it or in respect of its execution or performance of this Agreement by a jurisdiction in which it is
incorporated, organised, managed and controlled, or considered to have its seat, or in which a
branch or office through

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which it is acting for the purpose of this Agreement is located (“Stamp Tax Jurisdiction”) and will
indemnify the other party against any Stamp Tax levied or imposed upon the other party or in
respect of the other party’s execution or performance of this Agreement by any such Stamp Tax
Jurisdiction which is not also a Stamp Tax Jurisdiction with respect to the other party.

	5.	 	Events of Default and Termination Events

(a) Events of Default. The occurrence at any time with respect to a party or, if applicable, any
Credit Support Provider of such party or any Specified Entity of such party of any of the following
events constitutes an event of default (an “Event of Default”) with respect to such party:—

(i) Failure to Pay or Deliver. Failure by the party to make, when due, any payment under
this Agreement or delivery under Section 2(a)(i) or 2(e) required to be made by it if such
failure is not remedied on or before the third Local Business Day after notice of such
failure is given to the party;

(ii) Breach of Agreement. Failure by the party to comply with or perform any agreement or
obligation (other than an obligation to make any payment under this Agreement or delivery
under Section 2(a)(i) or 2(e) or to give notice of a Termination Event or any agreement or
obligation under Section 4(a)(i), 4(a)(iii) or 4(d)) to be complied with or performed by
the party in accordance with this Agreement if such failure is not remedied on or before
the thirtieth day after notice of such failure is given to the party;

(iii) Credit Support Default.

(1) Failure by the party or any Credit Support Provider of such party to comply
with or perform any agreement or obligation to be complied with or performed by it
in accordance with any Credit Support Document if such failure is continuing after
any applicable grace period has elapsed;

(2) the expiration or termination of such Credit Support Document or the failing or
ceasing of such Credit Support Document to be in full force and effect for the
purpose of this Agreement (in either case other than in accordance with its terms)
prior to the satisfaction of all obligations of such party under each Transaction
to which such Credit Support Document relates without the written consent of the
other party; or

(3) the party or such Credit Support Provider disaffirms, disclaims, repudiates or
rejects, in whole or in part, or challenges the validity of, such Credit Support
Document;

(iv) Misrepresentation. A representation (other than a representation under Section 3(e) or
(f)) made or repeated or deemed to have been made or repeated by the party or any Credit
Support Provider of such party in this Agreement or any Credit Support Document proves to
have been incorrect or misleading in any material respect when made or repeated or deemed
to have been made or repeated;

(v) Default under Specified Transaction. The party, any Credit Support Provider of such
party or any applicable Specified Entity of such party (1) defaults under a Specified
Transaction and, after giving effect to any applicable notice requirement or grace period,
there occurs a liquidation of, an acceleration of obligations under, or an early
termination of, that Specified Transaction, (2) defaults, after giving effect to any
applicable notice requirement or grace period, in making any payment or delivery due on the
last payment, delivery or exchange date of, or any payment on early termination of, a
Specified Transaction (or such default continues for at least three Local Business Days if
there is no applicable notice requirement or grace period) or (3) disaffirms, disclaims,
repudiates or rejects, in whole or in part, a Specified Transaction (or such action is
taken by any person or entity appointed or empowered to operate it or act on its behalf);

(vi) Cross Default. If “Cross Default” is specified in the Schedule as applying to the
party, the occurrence or existence of (1) a default, event of default or other similar
condition or event (however described) in respect of such party, any Credit Support
Provider of such party or any applicable Specified Entity of such party under one or more
agreements or instruments relating to

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Specified Indebtedness of any of them (individually or collectively) in an aggregate amount
of not less than the applicable Threshold Amount (as specified in the Schedule) which has
resulted in such Specified Indebtedness becoming, or becoming capable at such time of being
declared, due and payable under such agreements or instruments, before it would otherwise
have been due and payable or (2) a default by such party, such Credit Support Provider or
such Specified Entity (individually or collectively) in making one or more payments on the
due date thereof in an aggregate amount of not less than the applicable Threshold Amount
under such agreements or instruments (after giving effect to any applicable notice
requirement or grace period);

(vii) Bankruptcy. The party, any Credit Support Provider of such party or any applicable
Specified Entity of such party: —

(1) is dissolved (other than pursuant to a consolidation, amalgamation or merger);
(2) becomes insolvent or is unable to pay its debts or fails or admits in writing
its inability generally to pay its debts as they become due; (3) makes a general
assignment, arrangement or composition with or for the benefit of its creditors;
(4) institutes or has instituted against it a proceeding seeking a judgment of
insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law
or other similar law affecting creditors’ rights, or a petition is presented for
its winding- up or liquidation, and, in the case of any such proceeding or petition
instituted or presented against it, such proceeding or petition (A) results in a
judgment of insolvency or bankruptcy or the entry of an order for relief or the
making of an order for its winding-up or liquidation or (B) is not dismissed,
discharged, stayed or restrained in each case within 30 days of the institution or
presentation thereof; (5) has a resolution passed for its winding-up, official
management or liquidation (other than pursuant to a consolidation, amalgamation or
merger); (6) seeks or becomes subject to the appointment of an administrator,
provisional liquidator, conservator, receiver, trustee, custodian or other similar
official for it or for all or substantially all its assets; (7) has a secured party
take possession of all or substantially all its assets or has a distress,
execution, attachment, sequestration or other legal process levied, enforced or
sued on or against all or substantially all its assets and such secured party
maintains possession, or any such process is not dismissed, discharged, stayed or
restrained, in each case within 30 days thereafter; (8) causes or is subject to any
event with respect to it which, under the applicable laws of any jurisdiction, has
an analogous effect to any of the events specified in clauses (1) to (7)
(inclusive); or (9) takes any action in furtherance of, or indicating its consent
to, approval of, or acquiescence in, any of the foregoing acts; or

(viii) Merger Without Assumption. The party or any Credit Support Provider of such party
consolidates or amalgamates with, or merges with or into, or transfers all or substantially
all its assets to, another entity and, at the time of such consolidation, amalgamation,
merger or transfer: —

(1) the resulting, surviving or transferee entity fails to assume all the
obligations of such party or such Credit Support Provider under this Agreement or
any Credit Support Document to which it or its predecessor was a party by operation
of law or pursuant to an agreement reasonably satisfactory to the other party to
this Agreement; or

(2) the benefits of any Credit Support Document fail to extend (without the consent
of the other party) to the performance by such resulting, surviving or transferee
entity of its obligations under this Agreement.

(b) Termination Events. The occurrence at any time with respect to a party or, if applicable, any
Credit Support Provider of such party or any Specified Entity of such party of any event specified
below constitutes an Illegality if the event is specified in (i) below, a Tax Event if the event is
specified in (ii) below or a Tax Event Upon Merger if the event is specified in (iii) below, and,
if specified to be applicable, a Credit Event Upon Merger if the event is specified pursuant to
(iv) below or an Additional Termination Event if the event is specified pursuant to (v) below:—

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(i) Illegality. Due to the adoption of, or any change in, any applicable law after the date
on which a Transaction is entered into, or due to the promulgation of, or any change in,
the interpretation by any court, tribunal or regulatory authority with competent
jurisdiction of any applicable law after such date, it becomes unlawful (other than as a
result of a breach by the party of Section 4(b)) for such party (which will be the Affected
Party): —

(1) to perform any absolute or contingent obligation to make a payment or delivery
or to receive a payment or delivery in respect of such Transaction or to comply
with any other material provision of this Agreement relating to such Transaction;
or

(2) to perform, or for any Credit Support Provider of such party to perform, any
contingent or other obligation which the party (or such Credit Support Provider)
has under any Credit Support Document relating to such Transaction;

(ii) Tax Event. Due to (x) any action taken by a taxing authority, or brought in a court of
competent jurisdiction, on or after the date on which a Transaction is entered into
(regardless of whether such action is taken or brought with respect to a party to this
Agreement) or (y) a Change in Tax Law, the party (which will be the Affected Party) will,
or there is a substantial likelihood that it will, on the next succeeding Scheduled Payment
Date (1) be required to pay to the other party an additional amount in respect of an
Indemnifiable Tax under Section 2(d)(i)(4) (except in respect of interest under Section
2(e), 6(d)(ii) or 6(e)) or (2) receive a payment from which an amount is required to be
deducted or withheld for or on account of a Tax (except in respect of interest under
Section 2(e), 6(d)(ii) or 6(e)) and no additional amount is required to be paid in respect
of such Tax under Section 2(d)(i)(4) (other than by reason of Section 2(d)(i)(4)(A) or
(B));

(iii) Tax Event Upon Merger. The party (the “Burdened Party”) on the next succeeding
Scheduled Payment Date will either (1) be required to pay an additional amount in respect
of an Indemnifiable Tax under Section 2(d)(i)(4) (except in respect of interest under
Section 2(e), 6(d)(ii) or 6(e)) or (2) receive a payment from which an amount has been
deducted or withheld for or on account of any Indemnifiable Tax in respect of which the
other party is not required to pay an additional amount (other than by reason of Section
2(d)(i)(4)(A) or (B)), in either case as a result of a party consolidating or amalgamating
with, or merging with or into, or transferring all or substantially all its assets to,
another entity (which will be the Affected Party) where such action does not constitute an
event described in Section 5(a)(viii);

(iv) Credit Event Upon Merger. If “Credit Event Upon Merger” is specified in the Schedule
as applying to the party, such party (“X”), any Credit Support Provider of X or any
applicable Specified Entity of X consolidates or amalgamates with, or merges with or into,
or transfers all or substantially all its assets to, another entity and such action does
not constitute an event described in Section 5(a)(viii) but the creditworthiness of the
resulting, surviving or transferee entity is materially weaker than that of X, such Credit
Support Provider or such Specified Entity, as the case may be, immediately prior to such
action (and, in such event, X or its successor or transferee, as appropriate, will be the
Affected Party); or

(v) Additional Termination Event. If any “Additional Termination Event” is specified in the
Schedule or any Confirmation as applying, the occurrence of such event (and, in such event,
the Affected Party or Affected Parties shall be as specified for such Additional
Termination Event in the Schedule or such Confirmation).

	(c)	Event of Default and Illegality. If an event or circumstance which would otherwise constitute
or give rise to an Event of Default also constitutes an Illegality, it will be treated as an
Illegality and will not constitute an Event of Default.

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	6.	 	Early Termination

(a) Right to Terminate Following Event of Default. If at any time an Event of Default with respect
to a party (the “Defaulting Party”) has occurred and is then continuing, the other party (the
“Non-defaulting Party”) may, by not more than 20 days notice to the Defaulting Party specifying the
relevant Event of Default, designate a day not earlier than the day such notice is effective as an
Early Termination Date in respect of all outstanding Transactions. If, however, “Automatic Early
Termination” is specified in the Schedule as applying to a party, then an Early Termination Date in
respect of all outstanding Transactions will occur immediately upon the occurrence with respect to
such party of an Event of Default specified in Section 5(a)(vii)(1), (3), (5), (6) or, to the
extent analogous thereto, (8), and as of the time immediately preceding the institution of the
relevant proceeding or the presentation of the relevant petition upon the occurrence with respect
to such party of an Event of Default specified in Section 5(a)(vii)(4) or, to the extent analogous
thereto, (8).

(b) Right to Terminate Following Termination Event.

(i) Notice. If a Termination Event occurs, an Affected Party will, promptly upon becoming
aware of it, notify the other party, specifying the nature of that Termination Event and
each Affected Transaction and will also give such other information about that Termination
Event as the other party may reasonably require.

(ii) Transfer to Avoid Termination Event. If either an Illegality under Section 5(b)(i)(1)
or a Tax Event occurs and there is only one Affected Party, or if a Tax Event Upon Merger
occurs and the Burdened Party is the Affected Party, the Affected Party will, as a
condition to its right to designate an Early Termination Date under Section 6(b)(iv), use
all reasonable efforts (which will not require such party to incur a loss, excluding
immaterial, incidental expenses) to transfer within 20 days after it gives notice under
Section 6(b)(i) all its rights and obligations under this Agreement in respect of the
Affected Transactions to another of its Offices or Affiliates so that such Termination
Event ceases to exist.

If the Affected Party is not able to make such a transfer it will give notice to the other
party to that effect within such 20 day period, whereupon the other party may effect such a
transfer within 30 days after the notice is given under Section 6(b)(i).

Any such transfer by a party under this Section 6(b)(ii) will be subject to and conditional
upon the prior written consent of the other party, which consent will not be withheld if
such other party’s policies in effect at such time would permit it to enter into
transactions with the transferee on the terms proposed.

(iii) Two Affected Parties. If an Illegality under Section 5(b)(i)(1) or a Tax Event occurs
and there are two Affected Parties, each party will use all reasonable efforts to reach
agreement within 30 days after notice thereof is given under Section 6(b)(i) on action to
avoid that Termination Event.

(iv) Right to Terminate. If: —

(1) a transfer under Section 6(b)(ii) or an agreement under Section 6(b)(iii), as
the case may be, has not been effected with respect to all Affected Transactions
within 30 days after an Affected Party gives notice under Section 6(b)(i); or

(2) an Illegality under Section 5(b)(i)(2), a Credit Event Upon Merger or an
Additional Termination Event occurs, or a Tax Event Upon Merger occurs and the
Burdened Party is not the Affected Party,

either party in the case of an Illegality, the Burdened Party in the case of a Tax Event
Upon Merger, any Affected Party in the case of a Tax Event or an Additional Termination
Event if there is more than one Affected Party, or the party which is not the Affected
Party in the case of a Credit Event Upon Merger or an Additional Termination Event if there
is only one Affected Party may, by not more than 20 days notice to the other party and
provided that the relevant Termination Event is

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then continuing, designate a day not earlier than the day such notice is effective as an
Early Termination Date in respect of all Affected Transactions.

	(c)	 	Effect of Designation.

(i) If notice designating an Early Termination Date is given under Section 6(a) or (b), the
Early Termination Date will occur on the date so designated, whether or not the relevant
Event of Default or Termination Event is then continuing.

(ii) Upon the occurrence or effective designation of an Early Termination Date, no further
payments or deliveries under Section 2(a)(i) or 2(e) in respect of the Terminated
Transactions will be required to be made, but without prejudice to the other provisions of
this Agreement. The amount, if any, payable in respect of an Early Termination Date shall
be determined pursuant to Section 6(e).

	(d)	 	Calculations.

(i) Statement. On or as soon as reasonably practicable following the occurrence of an Early
Termination Date, each party will make the calculations on its part, if any, contemplated
by Section 6(e) and will provide to the other party a statement (1) showing, in reasonable
detail, such calculations (including all relevant quotations and specifying any amount
payable under Section 6(e)) and (2) giving details of the relevant account to which any
amount payable to it is to be paid. In the absence of written confirmation from the source
of a quotation obtained in determining a Market Quotation, the records of the party
obtaining such quotation will be conclusive evidence of the existence and accuracy of such
quotation.

(ii) Payment Date. An amount calculated as being due in respect of any Early Termination
Date under Section 6(e) will be payable on the day that notice of the amount payable is
effective (in the case of an Early Termination Date which is designated or occurs as a
result of an Event of Default) and on the day which is two Local Business Days after the
day on which notice of the amount payable is effective (in the case of an Early Termination
Date which is designated as a result of a Termination Event). Such amount will be paid
together with (to the extent permitted under applicable law) interest thereon (before as
well as after judgment) in the Termination Currency, from (and including) the relevant
Early Termination Date to (but excluding) the date such amount is paid, at the Applicable
Rate. Such interest will be calculated on the basis of daily compounding and the actual
number of days elapsed.

	(e)	 	Payments on Early Termination. If an Early Termination Date occurs, the following provisions
shall apply based on the parties’ election in the Schedule of a payment measure, either
“Market Quotation” or “Loss”, and a payment method, either the “First Method” or the “Second
Method”. If the parties fail to designate a payment measure or payment method in the Schedule,
it will be deemed that “Market Quotation” or the “Second Method”, as the case may be, shall
apply. The amount, if any, payable in respect of an Early Termination Date and determined
pursuant to this Section will be subject to any Set-off.

	 	(i)	 	Events of Default. If the Early Termination Date results from an Event of Default: —

(1) First Method and Market Quotation. If the First Method and Market Quotation
apply, the Defaulting Party will pay to the Non-defaulting Party the excess, if a
positive number, of (A) the sum of the Settlement Amount (determined by the
Non-defaulting Party) in respect of the Terminated Transactions and the Termination
Currency Equivalent of the Unpaid Amounts owing to the Non-defaulting Party over
(B) the Termination Currency Equivalent of the Unpaid Amounts owing to the
Defaulting Party.

(2) First Method and Loss. If the First Method and Loss apply, the Defaulting Party
will pay to the Non-defaulting Party, if a positive number, the Non- defaulting
Party’s Loss in respect of this Agreement.

(3) Second Method and Market Quotation. If the Second Method and Market Quotation
apply, an amount will be payable equal to (A) the sum of the Settlement Amount

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(determined by the Non-defaulting Party) in respect of the Terminated Transactions
and the Termination Currency Equivalent of the Unpaid Amounts owing to the
Non-defaulting Party less (B) the Termination Currency Equivalent of the Unpaid
Amounts owing to the Defaulting Party. If that amount is a positive number, the
Defaulting Party will pay it to the Non-defaulting Party; if it is a negative
number, the Non-defaulting Party will pay the absolute value of that amount to the
Defaulting Party.

(4) Second Method and Loss. If the Second Method and Loss apply, an amount will be
payable equal to the Non-defaulting Party’s Loss in respect of this Agreement. If
that amount is a positive number, the Defaulting Party will pay it to the
Non-defaulting Party; if it is a negative number, the Non-defaulting Party will pay
the absolute value of that amount to the Defaulting Party.

	 	(ii)	 	Termination Events. If the Early Termination Date results from a Termination Event: —

(1) One Affected Party. If there is one Affected Party, the amount payable will be
determined in accordance with Section 6(e)(i)(3), if Market Quotation applies, or
Section 6(e)(i)(4), if Loss applies, except that, in either case, references to the
Defaulting Party and to the Non-defaulting Party will be deemed to be references to
the Affected Party and the party which is not the Affected Party, respectively,
and, if Loss applies and fewer than all the Transactions are being terminated, Loss
shall be calculated in respect of all Terminated Transactions.

(2) Two Affected Parties. If there are two Affected Parties: —

(A) if Market Quotation applies, each party will determine a Settlement Amount
in respect of the Terminated Transactions, and an amount will be payable equal
to (I) the sum of (a) one-half of the difference between the Settlement Amount
of the party with the higher Settlement Amount (“X”) and the Settlement Amount
of the party with the lower Settlement Amount (“Y”) and (b) the Termination
Currency Equivalent of the Unpaid Amounts owing to X less (II) the Termination
Currency Equivalent of the Unpaid Amounts owing to Y; and

(B) if Loss applies, each party will determine its Loss in respect of this
Agreement (or, if fewer than all the Transactions are being terminated, in
respect of all Terminated Transactions) and an amount will be payable equal to
one-half of the difference between the Loss of the party with the higher Loss
(“X”) and the Loss of the party with the lower Loss (“Y”).

If the amount payable is a positive number, Y will pay it to X; if it is a negative
number, X will pay the absolute value of that amount to Y.

(iii) Adjustment for Bankruptcy. In circumstances where an Early Termination Date occurs
because “Automatic Early Termination” applies in respect of a party, the amount determined
under this Section 6(e) will be subject to such adjustments as are appropriate and
permitted by law to reflect any payments or deliveries made by one party to the other under
this Agreement (and retained by such other party) during the period from the relevant Early
Termination Date to the date for payment determined under Section 6(d)(ii).

(iv) Pre-Estimate. The parties agree that if Market Quotation applies an amount recoverable
under this Section 6(e) is a reasonable pre-estimate of loss and not a penalty. Such amount
is payable for the loss of bargain and the loss of protection against future risks and
except as otherwise provided in this Agreement neither party will be entitled to recover
any additional damages as a consequence of such losses.

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	7.	 	Transfer

Subject to Section 6(b)(ii), neither this Agreement nor any interest or obligation in or under this
Agreement may be transferred (whether by way of security or otherwise) by either party without the
prior written consent of the other party, except that: —

(a) a party may make such a transfer of this Agreement pursuant to a consolidation or amalgamation
with, or merger with or into, or transfer of all or substantially all its assets to, another entity
(but without prejudice to any other right or remedy under this Agreement); and

(b) a party may make such a transfer of all or any part of its interest in any amount payable to it
from a Defaulting Party under Section 6(e).

Any purported transfer that is not in compliance with this Section will be void.

	8.	 	Contractual Currency

(a) Payment in the Contractual Currency. Each payment under this Agreement will be made in the
relevant currency specified in this Agreement for that payment (the “Contractual Currency”). To the
extent permitted by applicable law, any obligation to make payments under this Agreement in the
Contractual Currency will not be discharged or satisfied by any tender in any currency other than
the Contractual Currency, except to the extent such tender results in the actual receipt by the
party to which payment is owed, acting in a reasonable manner and in good faith in converting the
currency so tendered into the Contractual Currency, of the full amount in the Contractual Currency
of all amounts payable in respect of this Agreement. If for any reason the amount in the
Contractual Currency so received falls short of the amount in the Contractual Currency payable in
respect of this Agreement, the party required to make the payment will, to the extent permitted by
applicable law, immediately pay such additional amount in the Contractual Currency as may be
necessary to compensate for the shortfall. If for any reason the amount in the Contractual Currency
so received exceeds the amount in the Contractual Currency payable in respect of this Agreement,
the party receiving the payment will refund promptly the amount of such excess.

(b) Judgments. To the extent permitted by applicable law, if any judgment or order expressed in a
currency other than the Contractual Currency is rendered (i) for the payment of any amount owing in
respect of this Agreement, (ii) for the payment of any amount relating to any early termination in
respect of this Agreement or (iii) in respect of a judgment or order of another court for the
payment of any amount described in (i) or (ii) above, the party seeking recovery, after recovery in
full of the aggregate amount to which such party is entitled pursuant to the judgment or order,
will be entitled to receive immediately from the other party the amount of any shortfall of the
Contractual Currency received by such party as a consequence of sums paid in such other currency
and will refund promptly to the other party any excess of the Contractual Currency received by such
party as a consequence of sums paid in such other currency if such shortfall or such excess arises
or results from any variation between the rate of exchange at which the Contractual Currency is
converted into the currency of the judgment or order for the purposes of such judgment or order and
the rate of exchange at which such party is able, acting in a reasonable manner and in good faith
in converting the currency received into the Contractual Currency, to purchase the Contractual
Currency with the amount of the currency of the judgment or order actually received by such party.
The term “rate of exchange” includes, without limitation, any premiums and costs of exchange
payable in connection with the purchase of or conversion into the Contractual Currency.

(c) Separate Indemnities. To the extent permitted by applicable law, these indemnities constitute
separate and independent obligations from the other obligations in this Agreement, will be
enforceable as separate and independent causes of action, will apply notwithstanding any indulgence
granted by the party to which any payment is owed and will not be affected by judgment being
obtained or claim or proof being made for any other sums payable in respect of this Agreement.

(d) Evidence of Loss. For the purpose of this Section 8, it will be sufficient for a party to
demonstrate that it would have suffered a loss had an actual exchange or purchase been made.

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	9.	 	Miscellaneous

(a) Entire Agreement. This Agreement constitutes the entire agreement and understanding of the
parties with respect to its subject matter and supersedes all oral communication and prior writings
with respect thereto.

(b) Amendments. No amendment, modification or waiver in respect of this Agreement will be effective
unless in writing (including a writing evidenced by a facsimile transmission) and executed by each
of the parties or confirmed by an exchange of telexes or electronic messages on an electronic
messaging system.

(c) Survival of Obligations. Without prejudice to Sections 2(a)(iii) and 6(c)(ii), the obligations
of the parties under this Agreement will survive the termination of any Transaction.

(d) Remedies Cumulative. Except as provided in this Agreement, the rights, powers, remedies and
privileges provided in this Agreement are cumulative and not exclusive of any rights, powers,
remedies and privileges provided by law.

(e) Counterparts and Confirmations.

(i) This Agreement (and each amendment, modification and waiver in respect of it) may be
executed and delivered in counterparts (including by facsimile transmission), each of which
will be deemed an original.

(ii) The parties intend that they are legally bound by the terms of each Transaction from
the moment they agree to those terms (whether orally or otherwise). A Confirmation shall he
entered into as soon as practicable and may he executed and delivered in counterparts
(including by facsimile transmission) or be created by an exchange of telexes or by an
exchange of electronic messages on an electronic messaging system, which in each case will
be sufficient for all purposes to evidence a binding supplement to this Agreement. The
parties will specify therein or through another effective means that any such counterpart,
telex or electronic message constitutes a Confirmation.

(f) No Waiver of Rights. A failure or delay in exercising any right, power or privilege in respect
of this Agreement will not be presumed to operate as a waiver, and a single or partial exercise of
any right, power or privilege will not be presumed to preclude any subsequent or further exercise,
of that right, power or privilege or the exercise of any other right, power or privilege.

(g) Headings. The headings used in this Agreement are for convenience of reference only and are not
to affect the construction of or to be taken into consideration in interpreting this Agreement.

	10.	 	Offices; Multibranch Parties

(a) If Section 10(a) is specified in the Schedule as applying, each party that enters into a
Transaction through an Office other than its head or home office represents to the other party
that, notwithstanding the place of booking office or jurisdiction of incorporation or organisation
of such party, the obligations of such party are the same as if it had entered into the Transaction
through its head or home office. This representation will be deemed to be repeated by such party on
each date on which a Transaction is entered into.

(b) Neither party may change the Office through which it makes and receives payments or deliveries
for the purpose of a Transaction without the prior written consent of the other party.

(c) If a party is specified as a Multibranch Party in the Schedule, such Multibranch Party may make
and receive payments or deliveries under any Transaction through any Office listed in the Schedule,
and the Office through which it makes and receives payments or deliveries with respect to a
Transaction will be specified in the relevant Confirmation.

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	11.	 	Expenses

A Defaulting Party will, on demand, indemnify and hold harmless the other party for and against all
reasonable out-of-pocket expenses, including legal fees and Stamp Tax, incurred by such other party
by reason of the enforcement and protection of its rights under this Agreement or any Credit
Support Document to which the Defaulting Party is a party or by reason of the early termination of
any Transaction, including, but not limited to, costs of collection.

	12.	 	Notices

(a) Effectiveness. Any notice or other communication in respect of this Agreement may be given in
any manner set forth below (except that a notice or other communication under Section 5 or 6 may
not be given by facsimile transmission or electronic messaging system) to the address or number or
in accordance with the electronic messaging system details provided (see the Schedule) and will be
deemed effective as indicated:—

(i) if in writing and delivered in person or by courier, on the date it is delivered;

(ii) if sent by telex, on the date the recipient’s answerback is received;

(iii) if sent by facsimile transmission, on the date that transmission is received by a
responsible employee of the recipient in legible form (it being agreed that the burden of
proving receipt will be on the sender and will not be met by a transmission report
generated by the sender’s facsimile machine);

(iv) if sent by certified or registered mail (airmail, if overseas) or the equivalent
(return receipt requested), on the date that mail is delivered or its delivery is
attempted; or

(v) if sent by electronic messaging system, on the date that electronic message is
received,

unless the date of that delivery (or attempted delivery) or that receipt, as applicable, is not a
Local Business Day or that communication is delivered (or attempted) or received, as applicable,
after the close of business on a Local Business Day, in which case that communication shall be
deemed given and effective on the first following day that is a Local Business Day.

(b) Change of Addresses. Either party may by notice to the other change the address, telex or
facsimile number or electronic messaging system details at which notices or other communications
are to be given to it.

	13.	 	Governing Law and Jurisdiction

(a) Governing Law. This Agreement will be governed by and construed in accordance with the law
specified in the Schedule.

(b) Jurisdiction. With respect to any suit, action or proceedings relating to this Agreement
(“Proceedings”), each party irrevocably:—

(i) submits to the jurisdiction of the English courts, if this Agreement is expressed to be
governed by English law, or to the non- exclusive jurisdiction of the courts of the State
of New York and the United States District Court located in the Borough of Manhattan in New
York City, if this Agreement is expressed to be governed by the laws of the State of New
York; and

(ii) waives any objection which it may have at any time to the laying of venue of any
Proceedings brought in any such court, waives any claim that such Proceedings have been
brought in an inconvenient forum and further waives the right to object, with respect to
such Proceedings, that such court does not have any jurisdiction over such party.

Nothing in this Agreement precludes either party from bringing Proceedings in any other
jurisdiction (outside, if this Agreement is expressed to be governed by English law, the
Contracting States, as defined in Section 1(3) of the Civil Jurisdiction and Judgments Act 1982 or
any modification, extension or re- enactment thereof for the time being in force) nor will the
bringing of Proceedings in any one or more jurisdictions preclude the bringing of Proceedings in
any other jurisdiction.

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(c) Service of Process. Each party irrevocably appoints the Process Agent (if any) specified
opposite its name in the Schedule to receive, for it and on its behalf, service of process in any
Proceedings. If for any reason any party’s Process Agent is unable to act as such, such party will
promptly notify the other party and within 30 days appoint a substitute process agent acceptable to
the other party. The parties irrevocably consent to service of process given in the manner provided
for notices in Section 12. Nothing in this Agreement will affect the right of either party to serve
process in any other manner permitted by law.

(d) Waiver of Immunities. Each party irrevocably waives, to the fullest extent permitted by
applicable law, with respect to itself and its revenues and assets (irrespective of their use or
intended use), all immunity on the grounds of sovereignty or other similar grounds from (i) suit,
(ii) jurisdiction of any court, (iii) relief by way of injunction, order for specific performance
or for recovery of property, (iv) attachment of its assets (whether before or after judgment) and
(v) execution or enforcement of any judgment to which it or its revenues or assets might otherwise
be entitled in any Proceedings in the courts of any jurisdiction and irrevocably agrees, to the
extent permitted by applicable law, that it will not claim any such immunity in any Proceedings.

	14.	 	Definitions

As used in this Agreement:—

“Additional Termination Event” has the meaning specified in Section 5(b).

“Affected Party” has the meaning specified in Section 5(b).

“Affected Transactions” means (a) with respect to any Termination Event consisting of an
Illegality, Tax Event or Tax Event Upon Merger, all Transactions affected by the occurrence of such
Termination Event and (b) with respect to any other Termination Event, all Transactions.

“Affiliate” means, subject to the Schedule, in relation to any person, any entity controlled,
directly or indirectly, by the person, any entity that controls, directly or indirectly, the person
or any entity directly or indirectly under common control with the person. For this purpose,
“control” of any entity or person means ownership of a majority of the voting power of the entity
or person.

“Applicable Rate” means:—

(a) in respect of obligations payable or deliverable (or which would have been but for Section
2(a)(iii)) by a Defaulting Party, the Default Rate;

(b) in respect of an obligation to pay an amount under Section 6(e) of either party from and after
the date (determined in accordance with Section 6(d)(ii)) on which that amount is payable, the
Default Rate;

(c) in respect of all other obligations payable or deliverable (or which would have been but for
Section 2(a)(iii)) by a Non-defaulting Party, the Non-default Rate; and

(d) in all other cases, the Termination Rate.

“Burdened Party” has the meaning specified in Section 5(b).

“Change in Tax Law” means the enactment, promulgation, execution or ratification of, or any change
in or amendment to, any law (or in the application or official interpretation of any law) that
occurs on or after the date on which the relevant Transaction is entered into.

“consent” includes a consent, approval, action, authorisation, exemption, notice, filing,
registration or exchange control consent.

“Credit Event Upon Merger” has the meaning specified in Section 5(b).

“Credit Support Document” means any agreement or instrument that is specified as such in this Agreement.

“Credit Support Provider” has the meaning specified in the Schedule.

“Default Rate” means a rate per annum equal to the cost (without proof or evidence of any actual
cost) to the relevant payee (as certified by it) if it were to fund or of funding the relevant
amount plus 1% per annum.

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“Defaulting Party” has the meaning specified in Section 6(a).

“Early Termination Date” means the date determined in accordance with Section 6(a) or 6(b)(iv).

“Event of Default” has the meaning specified in Section 5(a) and, if applicable, in the Schedule.

“Illegality” has the meaning specified in Section 5(b).

“Indemnifiable Tax” means any Tax other than a Tax that would not be imposed in respect of a
payment under this Agreement but for a present or former connection between the jurisdiction of the
government or taxation authority imposing such Tax and the recipient of such payment or a person
related to such recipient (including, without limitation, a connection arising from such recipient
or related person being or having been a citizen or resident of such jurisdiction, or being or
having been organised, present or engaged in a trade or business in such jurisdiction, or having or
having had a permanent establishment or fixed place of business in such jurisdiction, but excluding
a connection arising solely from such recipient or related person having executed, delivered,
performed its obligations or received a payment under, or enforced, this Agreement or a Credit
Support Document).

“law” includes any treaty, law, rule or regulation (as modified, in the case of tax matters, by the
practice of any relevant governmental revenue authority) and “lawful” and “unlawful” will be
construed accordingly.

“Local Business Day” means, subject to the Schedule, a day on which commercial banks are open for
business (including dealings in foreign exchange and foreign currency deposits) (a) in relation to
any obligation under Section 2(a)(i), in the place(s) specified in the relevant Confirmation or, if
not so specified, as otherwise agreed by the parties in writing or determined pursuant to
provisions contained, or incorporated by reference, in this Agreement, (b) in relation to any other
payment, in the place where the relevant account is located and, if different, in the principal
financial centre, if any, of the currency of such payment, (c) in relation to any notice or other
communication, including notice contemplated under Section 5(a)(i), in the city specified in the
address for notice provided by the recipient and, in the case of a notice contemplated by Section
2(b), in the place where the relevant new account is to be located and (d) in relation to Section
5(a)(v)(2), in the relevant locations for performance with respect to such Specified Transaction.

“Loss” means, with respect to this Agreement or one or more Terminated Transactions, as the case
may be, and a party, the Termination Currency Equivalent of an amount that party reasonably
determines in good faith to be its total losses and costs (or gain, in which case expressed as a
negative number) in connection with this Agreement or that Terminated Transaction or group of
Terminated Transactions, as the case may be, including any loss of bargain, cost of funding or, at
the election of such party but without duplication, loss or cost incurred as a result of its
terminating, liquidating, obtaining or reestablishing any hedge or related trading position (or any
gain resulting from any of them). Loss includes losses and costs (or gains) in respect of any
payment or delivery required to have been made (assuming satisfaction of each applicable condition
precedent) on or before the relevant Early Termination Date and not made, except, so as to avoid
duplication, if Section 6(e)(i)(1) or (3) or 6(e)(ii)(2)(A) applies. Loss does not include a
party’s legal fees and out-of-pocket expenses referred to under Section 11. A party will determine
its Loss as of the relevant Early Termination Date, or, if that is not reasonably practicable, as
of the earliest date thereafter as is reasonably practicable. A party may (but need not) determine
its Loss by reference to quotations of relevant rates or prices from one or more leading dealers in
the relevant markets.

“Market Quotation” means, with respect to one or more Terminated Transactions and a party making
the determination, an amount determined on the basis of quotations from Reference Market-makers.
Each quotation will be for an amount, if any, that would be paid to such party (expressed as a
negative number) or by such party (expressed as a positive number) in consideration of an agreement
between such party (taking into account any existing Credit Support Document with respect to the
obligations of such party) and the quoting Reference Market-maker to enter into a transaction (the
“Replacement Transaction”) that would have the effect of preserving for such party the economic
equivalent of any payment or delivery (whether the underlying obligation was absolute or contingent
and assuming the satisfaction of each applicable condition precedent) by the parties under Section
2(a)(i) in respect of such Terminated Transaction or group of Terminated Transactions that would,
but for the occurrence of the relevant Early Termination Date, have been required after that date.
For this purpose, Unpaid Amounts in respect of the Terminated Transaction or group of Terminated
Transactions are to be excluded but, without limitation, any payment or delivery that

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would, but for the relevant Early Termination Date, have been required (assuming satisfaction of
each applicable condition precedent) after that Early Termination Date is to be included. The
Replacement Transaction would be subject to such documentation as such party and the Reference
Market-maker may, in good faith, agree. The party making the determination (or its agent) will
request each Reference Market-maker to provide its quotation to the extent reasonably practicable
as of the same day and time (without regard to different time zones) on or as soon as reasonably
practicable after the relevant Early Termination Date. The day and time as of which those
quotations are to be obtained will be selected in good faith by the party obliged to make a
determination under Section 6(e), and, if each party is so obliged, after consultation with the
other. If more than three quotations are provided, the Market Quotation will be the arithmetic mean
of the quotations, without regard to the quotations having the highest and lowest values. If
exactly three such quotations are provided, the Market Quotation will be the quotation remaining
after disregarding the highest and lowest quotations. For this purpose, if more than one quotation
has the same highest value or lowest value, then one of such quotations shall be disregarded. If
fewer than three quotations are provided, it will be deemed that the Market Quotation in respect of
such Terminated Transaction or group of Terminated Transactions cannot be determined.

“Non-default Rate” means a rate per annum equal to the cost (without proof or evidence of any
actual cost) to the Non-defaulting Party (as certified by it) if it were to fund the relevant
amount.

“Non-defaulting Party” has the meaning specified in Section 6(a).

“Office” means a branch or office of a party, which may be such party’s head or home office.

“Potential Event of Default” means any event which, with the giving of notice or the lapse of time
or both, would constitute an Event of Default.

“Reference Market-makers” means four leading dealers in the relevant market selected by the party
determining a Market Quotation in good faith (a) from among dealers of the highest credit standing
which satisfy all the criteria that such party applies generally at the time in deciding whether to
offer or to make an extension of credit and (b) to the extent practicable, from among such dealers
having an office in the same city.

“Relevant Jurisdiction” means, with respect to a party, the jurisdictions (a) in which the party is
incorporated, organised, managed and controlled or considered to have its seat, (b) where an Office
through which the party is acting for purposes of this Agreement is located, (c) in which the party
executes this Agreement and (d) in relation to any payment, from or through which such payment is
made.

“Scheduled Payment Date” means a date on which a payment or delivery is to be made under Section
2(a)(i) with respect to a Transaction.

“Set-off” means set-off, offset, combination of accounts, right of retention or withholding or
similar right or requirement to which the payer of an amount under Section 6 is entitled or subject
(whether arising under this Agreement, another contract, applicable law or otherwise) that is
exercised by, or imposed on, such payer.

“Settlement Amount” means, with respect to a party and any Early Termination Date, the sum of: —

(a) the Termination Currency Equivalent of the Market Quotations (whether positive or negative)
for each Terminated Transaction or group of Terminated Transactions for which a Market
Quotation is determined; and

(b) such party’s Loss (whether positive or negative and without reference to any Unpaid Amounts)
for each Terminated Transaction or group of Terminated Transactions for which a Market
Quotation cannot be determined or would not (in the reasonable belief of the party making the
determination) produce a commercially reasonable result.

“Specified Entity” has the meanings specified in the Schedule.

“Specified Indebtedness” means, subject to the Schedule, any obligation (whether present or future,
contingent or otherwise, as principal or surety or otherwise) in respect of borrowed money.

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“Specified Transaction” means, subject to the Schedule, (a) any transaction (including an agreement
with respect thereto) now existing or hereafter entered into between one party to this Agreement
(or any Credit Support Provider of such party or any applicable Specified Entity of such party) and
the other party to this Agreement (or any Credit Support Provider of such other party or any
applicable Specified Entity of such other party) which is a rate swap transaction, basis swap,
forward rate transaction, commodity swap, commodity option, equity or equity index swap, equity or
equity index option, bond option, interest rate option, foreign exchange transaction, cap
transaction, floor transaction, collar transaction, currency swap transaction, cross- currency rate
swap transaction, currency option or any other similar transaction (including any option with
respect to any of these transactions), (b) any combination of these transactions and (c) any other
transaction identified as a Specified Transaction in this Agreement or the relevant confirmation.

“Stamp Tax” means any stamp, registration, documentation or similar tax.

“Tax” means any present or future tax, levy, impost, duty, charge, assessment or fee of any nature
(including interest, penalties and additions thereto) that is imposed by any government or other
taxing authority in respect of any payment under this Agreement other than a stamp, registration,
documentation or similar tax.

“Tax Event” has the meaning specified in Section 5(b).

“Tax Event Upon Merger” has the meaning specified in Section 5(b).

“Terminated Transactions” means with respect to any Early Termination Date (a) if resulting from a
Termination Event, all Affected Transactions and (b) if resulting from an Event of Default, all
Transactions (in either case) in effect immediately before the effectiveness of the notice
designating that Early Termination Date (or, if “Automatic Early Termination” applies, immediately
before that Early Termination Date).

“Termination Currency” has the meaning specified in the Schedule.

“Termination Currency Equivalent” means, in respect of any amount denominated in the Termination
Currency, such Termination Currency amount and, in respect of any amount denominated in a currency
other than the Termination Currency (the “Other Currency”), the amount in the Termination Currency
determined by the party making the relevant determination as being required to purchase such amount
of such Other Currency as at the relevant Early Termination Date, or, if the relevant Market
Quotation or Loss (as the case may be), is determined as of a later date, that later date, with the
Termination Currency at the rate equal to the spot exchange rate of the foreign exchange agent
(selected as provided below) for the purchase of such Other Currency with the Termination Currency
at or about 11:00 a. m. (in the city in which such foreign exchange agent is located) on such date
as would be customary for the determination of such a rate for the purchase of such Other Currency
for value on the relevant Early Termination Date or that later date. The foreign exchange agent
will, if only one party is obliged to make a determination under Section 6(e), be selected in good
faith by that party and otherwise will be agreed by the parties.

“Termination Event” means an Illegality, a Tax Event or a Tax Event Upon Merger or, if specified to
be applicable, a Credit Event Upon Merger or an Additional Termination Event.

“Termination Rate” means a rate per annum equal to the arithmetic mean of the cost (without proof
or evidence of any actual cost) to each party (as certified by such party) if it were to fund or of
funding such amounts.

“Unpaid Amounts” owing to any party means, with respect to an Early Termination Date, the aggregate
of (a) in respect of all Terminated Transactions, the amounts that became payable (or that would
have become payable but for Section 2(a)(iii)) to such party under Section 2(a)(i) on or prior to
such Early Termination Date and which remain unpaid as at such Early Termination Date and (b) in
respect of each Terminated Transaction, for each obligation under Section 2(a)(i) which was (or
would have been but for Section 2(a)(iii)) required to be settled by delivery to such party on or
prior to such Early Termination Date and which has not been so settled as at such Early Termination
Date, an amount equal to the fair market value of that which was (or would have been) required to
be delivered as of the originally scheduled date for delivery, in each case together with (to the
extent permitted under applicable law) interest, in the currency of

ISDA® 1992

17

 

such amounts, from (and
including) the date such amounts or obligations were or would have been required to have been paid
or performed to (but excluding) such Early Termination Date, at the Applicable Rate. Such amounts
of interest will be calculated on the basis of daily compounding and the actual number of days
elapsed. The fair market value of any obligation referred to in clause (b) above shall be
reasonably determined by the party obliged to make the determination under Section 6(e) or, if each
party is so obliged, it shall be the average of the Termination Currency Equivalents of the fair
market values reasonably determined by both parties.

IN WITNESS WHEREOF the parties have executed this document on the respective dates specified below
with effect from the date specified on the first page of this document.

	 	 	 	 	 	 	 	 	 	 	 
	(“PARTY A”)	 	 	 	(“PARTY B”)	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Sherry Stofer
	 	 	 	By:
	 	/s/ Steve Elder	 	 
	Name:

	 	 

Sherry Stofer
	 	 
	 	Name:
	 	 

Steve Elder
	 	 
	Title:

	 	Vice President
	 	 	 	Title:
	 	Treasures	 	 
	Date:

	 	7/18/07
	 	 	 	Date:
	 	7/19/07	 	 

ISDA® 1992

18

 

SCHEDULE

to the

MASTER AGREEMENT

dated as of July 18, 2007, between

WACHOVIA BANK, NATIONAL ASSOCIATION (“Party A”)

and WRIGHT EXPRESS CORPORATION (“Party B”)

Part 1. Termination Provisions

	(a)	 	“Specified Entity” means in relation to Party A: Affiliates; in relation to Party B: None,
for purposes of Section 5(a)(v).
	 
	(b)	 	“Specified Transaction” has its meaning as defined in Section 14.
	 
	 	 	(c) “Cross Default” applies to both parties provided that Section 5(a)(vi) of this Agreement
is hereby amended (i) by deleting the words “or becoming capable at such time of being
declared from Clause (1) of Section 5(a)(vi) and (ii) by adding the following after the
semicolon at the end thereof: “provided, however, that notwithstanding the foregoing (but
subject to any provision to the contrary contained in any such agreement or instrument), an
Event of Default shall not occur under either (1) or (2) above if the default, event of
default or other similar condition or event referred to in (1) or the failure to pay
referred to in (2) is caused not (even in part) by the unavailability of funds but is caused
solely due to a technical or administrative error which has been remedied within three Local
Business Days after notice of such failure is given to the party.”
	 
	 	 	“Specified Indebtedness” will have the meaning specified in Section 14 with respect to Party
A, except that such term shall not include obligations in respect of deposits received in
the ordinary course of a party’s banking business, and (ii) with respect to Party B, will
mean the indebtedness owing by Party B under that certain Credit Agreement dated as of May
22, 2007, among Party B (as borrower), the guarantors (as set out therein), the lenders (as
set out therein), and among others, Bank of America, N.A., as Administrative Agent, Swing
Line Lender and L/C Issuer, and SunTrust Bank as Syndication Agent, as may be amended,
modified, supplemented or replaced from time to time (the “Credit Agreement”).
	 
	 	 	“Threshold Amount” means, with respect to Party A, an amount (including its equivalent in
another currency) equal to the higher of $10,000,000 or 2% of its stockholders’ equity as
reflected on its most recent financial statements or call reports, and with respect to Party
B, $10,000,000.
	 
	(d)	 	“Credit Event Upon Merger” applies to both parties.
	 
	(e)	 	“Automatic Early Termination” will not apply to either party.
	 
	(f)	 	Payments on Early Termination. Except as otherwise provided herein, “Market Quotation” and
the “Second Method” apply.
	 
	(g)	 	“Termination Currency” means U.S. Dollars.
	 
	(h)	 	“Additional Termination Event”. Additional Termination Event:
	 
	 	 	It shall constitute an Additional Termination Event, and Party B shall be the sole Affected
Party, if at any time, (1) any Event of Default set forth in Article VII of the Credit
Agreement shall occur and

1

 

	 	 	be continuing; or (2) either (A) the obligations of Party B hereunder shall not be at least
pari passu with the obligations of Party B to the Lenders under the Credit Agreement or (B)
the Credit Agreement shall terminate, and in the case of either (A) or (B), Party B shall
not have entered into an alternative credit support arrangement to support its obligations
hereunder.

Part 2. Tax Representations

	(a)	 	Payer Tax Representations. For the purpose of Section 3(e) of this Agreement, each party
makes the following representation:
	 
	 	 	It is not required by any applicable law, as modified by the practice of any relevant
governmental revenue authority, of any Relevant Jurisdiction to make any deduction or
withholding for or on account of any Tax from any payment (other than interest under Section
2(e), 6(d)(ii) or 6(e) of this Agreement) to be made by it to the other party under this
Agreement.
	 
	 	 	In making this representation, a party may rely on (i) the accuracy of any representations
made by the other party pursuant to Section 3(f) of this Agreement, (ii) the satisfaction of
the agreement contained in Section 4(a)(i) or 4(a)(iii) of this Agreement, and the accuracy
and effectiveness of any document provided by the other party pursuant to Section 4(a)(i) or
4(a)(iii) of this Agreement, and (iii) the satisfaction of the agreement of the other party
contained in Section 4(d) of this Agreement, provided that it shall not be a breach of this
representation where reliance is placed on clause (ii) above and the other party does not
deliver a form or document under Section 4(a)(iii) by reason of material prejudice to its
legal or commercial position.
	 
	(b)	 	Payee Tax Representations. For the purpose of Section 3(f) of this Agreement:
	 
	 	 	(i) Party A makes the following representation(s):

(A) It is a national banking association organized or formed under the laws of the
United States and is a United States resident for United States federal income tax
purposes, and its tax identification number is 22-1147033.

(B) Party A makes no other Payee Tax Representations.

	 	 	(ii) Party B makes the following representation(s):

(A) It is organized or formed under the laws of the state of Delaware and its tax
identification number is 010526993.

(B) Party B makes no other Payee Tax Representations.

Part 3. Documents

	(a)	 	Tax Forms.

(i) Delivery of Tax Forms. For the purpose of Section 4(a)(i), and without limiting Section
4(a)(iii), each party agrees to duly complete, execute and deliver to the other party the
tax forms specified below with respect to it (A) before the first Payment Date under this
Agreement, (B) promptly upon reasonable demand by the other party and (C) promptly upon
learning that any such form previously provided by the party has become obsolete or
incorrect.

2

 

(ii) Tax Forms to be Delivered by Party A:

A correct, complete and duly executed U.S. Internal Revenue Service Form W-9 (or
successor thereto) that eliminates U.S. federal backup withholding tax on payments to Party
A under this Agreement.

(iii) Tax forms to be Delivered by Party B:

A correct, complete and duly executed U.S. Internal Revenue Service Form W-9 (or
successor thereto) that eliminates U.S. federal backup withholding tax on payments to
Party B under this Agreement.

	(b)	 	Delivery of Documents. When it delivers this Agreement, each party shall also deliver its
Closing Documents to the other party in form and substance reasonably satisfactory to the
other party. For each Transaction, a party shall deliver, promptly upon request, a duly
executed incumbency certificate for the person(s) executing the Confirmation for that
Transaction on behalf of that party.
	 
	 	 	(i) For Party A, “Closing Documents” means (A) a copy, certified by the secretary or
assistant secretary of Party A, of the resolutions of Party A’s board of directors
authorizing the execution, delivery and performance by Party A of this Agreement and
authorizing Party A to enter into Transactions hereunder and (B) a duly executed certificate
of the secretary or assistant secretary of Party A certifying the name, true signature and
authority of each person authorized to execute this Agreement and enter into Transactions
for Party A.
	 
	 	 	(ii) For Party B, “Closing Documents” means:

(I) a copy, certified by the secretary or assistant secretary of Party B, of
resolutions of Party B’s board of directors authorizing the execution, delivery and
performance of this Agreement and authorizing Party B to enter into Transactions
hereunder and (II) a duly executed certificate of the secretary or assistant
secretary of Party B certifying the name, true signature and authority of each person
authorized to execute this Agreement and enter into Transactions for Party B.

	(c)	 	Financial Statements. Party B will furnish to Party A (i) within 120 days after the close
of each of Party B’s fiscal years, an audit report certified by independent certified public
accountants of recognized standing prepared in accordance with generally accepted accounting
principles, and. The foregoing financial statements shall be delivered to the following
address: Wachovia Bank, N.A., 301 S. College Street, Mail Code NC0661, Charlotte, NC
28202-6000 addressed to the attention of: Colleen McCullum, Managing Director, Corporate
Counterparty Credit, or such other address as Party A may provide in writing.

Part 4. Miscellaneous

	(a)	 	Addresses for Notices.

(i) For purposes of Section 12(a) of this Agreement, all notices to Party A shall, with
respect to any particular Transaction, be sent to the address, telex number or facsimile
number specified by Party A in the relevant Confirmation (or as specified below if not
specified in the relevant Confirmation), provided that any notice under Section 5 or 6 of
this Agreement shall be sent to Party A at its head office address specified below. provided
further that any notice under the Credit Support Annex shall be sent to Party A at its
address, telex number or facsimile number specified in the Credit Support Annex.

3

 

Head Office

WACHOVIA BANK, N.A.

301 South College Street, DC-8

Charlotte, NC 28202-0600

Attention: Derivatives Documentation Group

Fax: (704) 383-0575

Phone: (704) 383-8778

(ii) For purposes of Section 12(a) of this Agreement, all notices to Party B shall, with
respect to any particular Transaction, be sent to the address, telex number or facsimile
number specified by Party B in the relevant Confirmation (or as specified below if not
specified in the relevant Confirmation), provided that any notice under Section 5 or 6 of
this Agreement shall be sent to Party B at its head office address specified below. provided
further that any notice under the Credit Support Annex shall be sent to Party B at its
address, telex number or facsimile number specified in the Credit Support Annex.

Head Office 

WRIGHT EXPRESS CORPORATION

97 Darling Avenue

South Portland, Maine 04106

Facsimile No.: 207-523-7797Attention: Melissa D. Goodwin, Chief Financial Officer

Fax:
(207) 523-7797
Phone: (207) 523-7643

	(b)	 	Process Agent. For the purpose of Section 13(c) of this Agreement, neither party appoints a
Process Agent hereunder.
	 
	(c)	 	Offices. Section 10(a) applies.
	 
	(d)	 	Multibranch Party.
	 
	 	 	(i) Party A is a Multibranch Party and may act through the following Offices: its Charlotte
Head Office and its London Branch. If any Confirmation for a Transaction is sent or
executed by Party A without specifying its Office, it will be presumed that Party A’s Office
for that Transaction is its Charlotte Head Office.
	 
	 	 	(ii) Party B is not a Multibranch Party.
	 
	(e)	 	“Calculation Agent” The Calculation Agent shall be Party A unless an Event of Default is
continuing with respect to Party A in which case Party B shall be the Calculation Agent All
calculations and determinations are subject to Party B’s agreement as provided herein. If
Party B acting in good faith disputes Party A’s calculations on a commercially reasonable
basis, it shall deliver its written objection to Party A within two Business Days of receipt
of Party A’s calculation or determination specifying in reasonable detail (i) its objections
together with supporting calculations as necessary, indicating nature of the dispute , and
(ii) its proposed calculation or determination. Party A and Party B shall negotiate in good
faith to resolve the dispute, provided that if the dispute is not resolved within one Business
Day following receipt of Party B’s

4

 

	 	 	objection, Party A and Party B shall select a leading, independent dealer in relevant
market to make the disputed calculation or determination (the “Substitute Calculation
Agent”). If the parties are unable to agree on a Substitute Calculation Agent, each of the
parties shall elect an independent dealer in the relevant market and such two dealers shall
agree on a third party who shall be deemed to be the Substitute Calculation Agent. Both
parties shall pay equally any costs of the Substitute Calculation Agents and no Substitution
Calculation Agent shall be an Affiliate of either party.
	 
	(f)	 	“Credit Support Document” will not apply.
	 
	(g)	 	“Credit Support Provider” means, with respect to Party B.
	 
	(h)	 	Governing Law. To the extent not otherwise preempted by U.S. Federal law, this Agreement
will be governed by and construed in accordance with the law of the State of New York (without
giving effect to any provision of New York law that would cause another jurisdiction’s laws to
be applied).
	 
	(i)	 	Waiver of Jury Trial. To the extent permitted by applicable law, each party irrevocably
waives any and all right to trial by jury in any legal proceeding in connection with this
Agreement, any Credit Support Document to which it is a party, or any Transaction.
	 
	(j)	 	Netting of Payments. Section 2(c)(ii) will apply in respect of all Transactions from the
date of this Agreement, provided that Section 2(c)(ii) will not apply with respect to any
Transactions or group of Transactions for which the parties mutually agree shall be netted
operationally.
	 
	(k)	 	“Affiliate” has its meaning as defined in Section 14.

Part 5. Other Provisions

	(a)	 	ISDA Publications.
	 
	 	 	(i) 2000 ISDA Definitions. This Agreement and each Transaction are subject to the 2000 ISDA
Definitions (including its Annex) published by the International Swaps and Derivatives
Association, Inc. (together, the “2000 ISDA Definitions”) and will be governed by the
provisions of the 2000 ISDA Definitions. The provisions of the 2000 ISDA Definitions are
incorporated by reference in, and shall form part of, this Agreement and each Confirmation.
Any reference to a “Swap Transaction” in the 2000 ISDA Definitions is deemed to be a
reference to a “Transaction” for purposes of this Agreement or any Confirmation, and any
reference to a “Transaction” in this Agreement or any Confirmation is deemed to be a
reference to a “Swap Transaction” for purposes of the 2000 ISDA Definitions. The provisions
of this Agreement (exclusive of the 2000 ISDA Definitions) shall prevail in the event of any
conflict between such provisions and the 2000 ISDA Definitions.
	 
	(b)	 	Scope of Agreement. Any Specified Transaction now existing or hereafter entered into between
the parties (whether or not evidenced by a Confirmation) shall constitute a “Transaction”
under this Agreement and shall be subject to, governed by, and construed in accordance with
the terms of this Agreement, unless the confirming document(s) for that Specified Transaction
provide(s) otherwise. For any such Specified Transaction not evidenced by a Confirmation,
Section 2(a)(i) of this Agreement is amended to read as follows: “(i) Each party will make
each payment or delivery to be made by it under each Transaction, as specified in each
Confirmation (or otherwise in accordance with the terms of that Transaction if not evidenced
by a Confirmation), subject to the other provisions of this Agreement.”

5

 

	(c)	 	Additional Representations. In addition to the representations under Section 3, the
following representations will apply:

	 	(i)	 	Relationship Between Parties. Each party will be deemed to represent to the other party
on the date on which it enters into a Relevant Agreement that:
	 
	 	(1)	 	Non-Reliance. It is acting for its own account, and it has made its own
independent decisions to enter into the Relevant Agreement and as to whether the
Relevant Agreement is appropriate or proper for it based solely upon its own judgment
and upon advice from such advisers as it has deemed necessary. It is not relying on
any communication (written or oral) of the other party or any of its affiliates (or its
respective representatives) as investment advice or as a recommendation to enter into
the Relevant Agreement, it being understood that information and explanations related
to the terms and conditions of any Relevant Agreement will not be considered investment
advice or a recommendation to enter into the Relevant Agreement. No communication
(written or oral) received from the other party or any of its affiliates (or its
respective representatives) will be deemed to be an assurance or guarantee as to the
expected results of the Relevant Agreement.
	 
	 	(2)	 	Assessment and Understanding. It is capable of assessing the merits of and
understanding (on its own behalf or through independent professional advice), and
understands and accepts, the terms, conditions and risks of the Relevant Agreement
based solely upon its own evaluation of the Relevant Agreement (including the present
and future results, consequences, risks, and benefits thereof, whether financial,
accounting, tax, legal, or otherwise) or that of its own advisers. It is also capable
of assuming, and assumes, the risks of the Relevant Agreement. It also understands
that the terms under which any Transaction may be terminated early are set forth in
this Agreement (or in the relevant Confirmation), and any early termination of a
Transaction other than pursuant to such terms is subject to mutual agreement of the
parties confirmed in writing, the terms of which may require one party to pay an early
termination fee to the other party based upon market conditions prevailing at the time
of early termination.
	 
	 	(3)	 	Status of Parties. The other party is not acting as a fiduciary for or an
adviser to it in respect of the Relevant Agreement, and any agency, brokerage, advisory
or fiduciary services that the other party (or any of its affiliates) may otherwise
provide to the party (or to any of its affiliates) excludes the Relevant Agreement.

	 	 	“Relevant Agreement” means this Agreement, each Transaction, each Confirmation, any Credit
Support Document, or any agreement (including any amendment, modification, transfer or early
termination) between the parties relating to this Agreement or to any Transaction,
Confirmation or Credit Support Document.
	 
	 	 	(ii) Eligibility. Each party will be deemed to represent to the other party on the date on
which it enters into a Transaction that it is an “eligible contract participant” within the
meaning of the Commodity Exchange Act.
	 
	 	 	(iii) ERISA. Each party represents to the other party at all times hereunder that it is not
(i) an employee benefit plan as defined in Section 3(3) that is subject to the fiduciary
responsibility provisions of the Employee Retirement Income Security Act of 1974, as amended
(“ERISA”), or a plan as defined in Section 4975(e)(1) of the Internal Revenue Code of 1986,
as amended (the “Code”), subject to Title I of ERISA or Section 4975 of the Code, or a
governmental plan that is subject to federal, state or local law that is substantially
similar to the provisions of Section 406 of ERISA or Section 4975 of the Code, (ii) a person
or entity acting on behalf of an ERISA Plan, or (iii) a person or entity the assets of which
constitute assets of an ERISA Plan.

6

 

	(d)	 	Set-off. Any amount (“Early Termination Amount”) payable to one party (“Payee”) by the other
party (“Payer”) under Section 6(e), upon the designation of an Early Termination Date in
circumstances where there is a Defaulting Party due to the occurrence of an Event of Default
or one Affected Party in the case where a Termination Event under Section 5(b)(iv) has
occurred, will, at the option of the party (“X”) other than the Defaulting Party or the
Affected Party (and without prior notice to the Defaulting Party or the Affected Party), be
reduced by means of set off against any amount(s) (“Other Agreement Amount”) payable (whether
at such time or in the future or upon the occurrence of a contingency) by the Payee to the
Payer (irrespective of the currency, place of payment or booking office of the obligation)
under any other agreement(s) between the Payee and the Payer or instrument(s) or
undertaking(s) issued or executed by the Payee to, or in the favor of, the Payer (and the
Other Agreement Amount will be discharged promptly and in all respects to the extent it is so
set-off). X will give notice to the other party of any set-off effected under this paragraph.
	 
	 	 	For this purpose, either the Early Termination Amount or the Other Agreement Amount (or the
relevant portion of such amounts) may be converted by X into the currency in which the other
is denominated at the rate of exchange at which such party would be able, acting in a
reasonable manner and in good faith, to purchase the relevant amount of such currency. The
term “rate of exchange” includes, without limitation, any reasonable premiums and reasonable
costs of exchange payable in connection with the purchase of or conversion into the relevant
currency.
	 
	 	 	Nothing in this paragraph shall be effective to create a charge or other security interest.
This paragraph shall be without prejudice and in addition to any right of set-off,
combination of accounts, lien or other right to which any party is at any time otherwise
entitled (whether by operation of law, contract or otherwise).
	 
	(f)	 	Recording of Conversations. Each party (i) consents to the recording of telephone
conversations between the trading, marketing and other relevant personnel of the parties or
any of their Affiliates in connection with this Agreement or any Transaction or potential
Transaction, (ii) agrees to obtain any necessary consent of, and give any necessary notice of
such recording to, its relevant personnel and those of its Affiliates and (iii) agrees, to the
extent permitted by applicable law, that such recordings may be submitted in evidence in any
Proceedings.
	 
	(g)	 	Bankruptcy. Section 5(a)(viii) of this Agreement is hereby amended by replacing the words “30
days” wherever it appears with “60 days”.
	 
	(h)	 	Confirmation Procedures. Upon receipt thereof, Party B shall examine the terms of each
Confirmation sent by Party A, and unless Party B objects to the terms within three New York
business days after receipt of that Confirmation, those terms shall be deemed accepted and
correct absent manifest error, in which case that Confirmation will be sufficient to form a
binding supplement to this Agreement notwithstanding Section 9(e)(ii) of this Agreement.

IN WITNESS WHEREOF, the parties have executed this Schedule by their duly authorized signatories as
of the date hereof.

7

 

WACHOVIA BANK, NATIONAL ASSOCIATION

By: /s/ Sherry Stofer

Name: Sherry Stofer

Title: Vice President

WRIGHT EXPRESS CORPORATION

By: /s/ Steve Elder

Name: Steve Elder

Title: Treasurer

8exv10w2

 

Following is the form of confirmation evidencing the purchase and sale by the Company of put and
call option contracts from and to Wachovia Bank, N.A., on the price of Nymex Unleaded Regular
Gasoline.

CONFIRMATION OF COMMODITY COLLAR OPTION

CASH SETTLED

	 	 	 
	Date:

	 	                    
	To:

	 	Wright Express Corporation (“Counterparty”)
	Email:

	 	                    
	Attention:

	 	                    
	From:

	 	Wachovia Bank, N.A. (“Wachovia”)
	Ref. No:

	 	                    

Dear Mr. Elder:

This confirms the terms of the Transaction described below between Counterparty and
Wachovia. The definitions and provisions contained in the 2005 ISDA Commodity Definitions,
as published by the International Swaps and Derivatives Association, Inc., are incorporated
into this Confirmation. In the event of any inconsistency between those definitions and
provisions and this Confirmation, this Confirmation will govern.

1. The terms of the particular Transaction to which the Confirmation relates are as follows:

	 	 	 
	Notional Quantity per
	 	 
	Calculation Period:

	 	For a Calculation Period, the amount set forth opposite that Calculation Period on Schedule I hereto.
	Total Notional Quantity:

	 	                     GAL
	Commodity:

	 	As per the Commodity Reference Price
	Trade Date:

	 	                    
	Effective Date:

	 	                    
	Termination Date:

	 	                    
	Put Buyer/Call Seller:

	 	Counterparty
	Put Seller/Call Buyer:

	 	Wachovia
	Option Style:

	 	Asian
	Option Type:

	 	Collar
	Total Premium:

	 	Inapplicable
	Calculation Period:

	 	As set forth on Schedule I hereto.
	 
	 	 
	Commodity Reference
	 	 
	Price:

	 	GASOLINE RBOB-NEW YORK-NYMEX
	Specified Price:

	 	Settlement price
	Pricing Date(s):

	 	Each Commodity Business Day of the relevant Calculation Period.
	 
	 	 
	 

	 	From time to time, the Board of Directors of the New York Mercantile Exchange (the “NYMEX
Board”) may change the termination date of the Commodity Reference Price Futures Contract
or Commodity Reference Price Option expiration schedule. In the event that the NYMEX Board
approves any changes to the date of the Commodity Reference Price Futures Contract or the
Commodity Reference Price Option expiration schedule during the term of this

 

 

	 	 	 
	 

	 	transaction, the Pricing Dates contained herein shall automatically be adjusted to coincide with the
changes approved by the NYMEX Board, without any further action or notice required by
either party to this Transaction.
	Delivery Date:

	 	First Nearby Month
	Call Strike Price:

	 	USD                      per GAL
	Put Strike Price:

	 	USD                      GAL
	Procedure for Exercise:
	 	 
	Expiration Date(s):

	 	In respect of a Calculation Period, the Expiration Date is the last Pricing Date for the
relevant Calculation Period.
	Automatic Exercise:

	 	Applicable
	Cash Settlement:

	 	Applicable
	Cash Settlement Amount:

	 	The following amounts shall be payable with respect to each Calculation Period:
	 
	 	 
	 

	 	If the Floating Price for a Calculation Period is greater than the Call Strike Price, then
the Call Seller shall pay to the Call Buyer on the Settlement Date of that Calculation
Period an amount equal to the product of (i) the difference between such Floating Price and
the Call Strike Price, times (ii) the Notional Quantity for that Calculation Period.
	 
	 	 
	 

	 	If the Floating Price for a Calculation Period is less than the Put Strike Price, then the
Put Seller shall pay to the Put Buyer on the Settlement Date of that Calculation period an
amount equal to the product of (i) the difference between such Floating Price and the Put
Strike Price, times (ii) the Notional Quantity for that Calculation Period.
	Payment Date(s):

	 	For a Calculation Period, the Payment Dates set forth opposite that Calculation
Period on Schedule I hereto.
	Business Day:

	 	New York
	Disruption Fallback(s):

	 	1) Negotiated Fallback
	 

	 	2) Calculation Agent Determination
	 
	 	 
	2. Rounding:
	 	 
	 
	 	 
	All amounts resulting from the calculation of the Floating Price(s) shall be
rounded to the nearest four decimal places with 0.00005 being rounded upwards (e.g. 0.33334
being rounded down to 0.3333 and 0.33335 being rounded up to 0.3334).
	 
	 	 
	3. The additional provisions of this Confirmation are as follows:
	 
	 	 
	Calculation Agent:
	 	Wachovia
	Payment Instructions:
	 	Wachovia Bank, N.A.
	 

	 	CIB Group, ABA 053000219
	 

	 	Ref: Derivative Desk (Trade No: N376851)
	 

	 	Account #: 04659360006116
	Wachovia Contacts:
	 	Settlement and/or Rate Resets:
	 

	 	Tel: 1-800-249-3865
	 

	 	Fax: 1-704-383-8429
	 
	 	 
	 

	 	Documentation:
	 

	 	Tel: 704-715-7051
	 

	 	Fax: 704-383-9139

 

 

	 	 	 
	 

	 	Collateral:
	 

	 	Tel: (704) 383-9529
	 
	 	 
	 

	 	Please quote transaction reference number.
	Payments
to Counterparty:
	 	Per your standing payment instructions or debit authorization if provided to Wachovia, as relevant. If not provided, please contact us in order for payment to be made.
	 
	 	 
	Phone:
	 	1-800-249-3865 Fax: 1-704-383-8429
	 
	 	 
	Documentation:
	 	 

This Confirmation supplements, forms part of, and is subject to, the Master
Agreement between Wachovia and Counterparty dated as of July 18, 2007, as amended and
supplemented from time to time (the “Master Agreement”). All provisions contained or
incorporated by reference in the Master Agreement will govern this Confirmation except as
expressly modified herein.

Please confirm that the foregoing correctly sets forth the terms of our agreement by
executing a copy of this Confirmation and returning it to us.

Very truly yours, Wachovia

Bank, N.A.

Ref. No. N376851

Accepted and Confirmed as of date first

written above:

Wright Express Corporation

By: /s/ Steve Elder

Name: Steve Elder

Title: Vice President, Corporate Finance

Schedule I

	 	 	 	 	 	 	 
	 	 	 	 	Notional Quantity per	 	 
	Calculation Period	 	Calculation Period	 	Payment Dates
	(from and including, to and including)	 	 	 	 
	                     to

	 	                    	 	                    GAL
	 	                    
	 
	 	 	 	 	 	 
	                     to
	 	                    
	 	                    GAL
	 	                    
	 
	 	 	 	 	 	 
	                     to

	 	                    
	 	                    GAL
	 	                    
	 
	 	 	 	 	 	 
	                     to

	 	                    
	 	                    GAL

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00141-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00141-of-00352.parquet"}]]