SEC Contract Filing

Filing Date: 2023-02-23

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<DIV><FONT size="1" style="font-size:1pt;color:white">Page 1 of 7 REWARDS FULFILLMENT SERVICES AGREEMENT This Rewards Fulfillment Services Agreement (this &#8220;Agreement&#8221;) is made and entered into as of the December 1, 2022 (the &#8220;Effective Date&#8221;) by and between Ameriprise Bank, FSB, having its home offices at 707 2nd Avenue South, Minneapolis, Hennepin County, MN 55402 (&#8220;Bank&#8221;) and Ameriprise Certificate Company, having offices at 707 2nd Avenue South, Minneapolis, Hennepin County, MN (&#8220;Company&#8221;). WHEREAS, Bank and Company are both wholly owned subsidiaries of Ameriprise Financial, Inc.; and WHEREAS, Bank and Company wish to engage each other regarding certain Ameriprise rewards fulfillment services, as described herein; and WHEREAS, the Parties intend that the Services to be provided as further defined herein will be governed by the terms and conditions of this Agreement; and WHEREAS, the Parties are affiliates for purposes of Sections 23A and 23B of the Federal Reserve Act (12 U.S.C. &sect;&sect; 371c &#8211; 371c-1) as implemented by Regulation W of the Board of Governors of the Federal Reserve System (12 C.F.R. Part 223) and as made applicable to the Bank by Section 11(a) of the Home Owners Loan Act (12 U.S.C. &sect; 1468(a)) (together, the &#8220;Transactions with Affiliates Rules&#8221;), and, therefore, are subject to the limitations on transactions with affiliates under the Transactions with Affiliates Rules, which require, among other things, that certain transactions between Bank and Company be conducted on terms and under circumstances, including credit standards and fees, that are substantially the same, or at least as favorable to Bank, as those prevailing at the time for comparable transactions with or involving unaffiliated companies, or, in the absence of such comparable transactions, that in good faith would be offered to, or would apply to, unaffiliated companies. NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, Bank and Company agree as follows: Section 1. Definitions. As used in this Agreement, the following terms shall have the meaning hereinafter defined: &#8220;Applicable Law&#8221; means all laws, statutes, rules and regulations of any federal or state government or body having jurisdiction over the Parties or that apply to the Services. &#8220;Customer Information&#8221; shall have the meaning set forth in Section 6(a). &#8220;Indemnified Parties&#8221; shall have the meaning set forth in Section 8. &#8220;OCC&#8221; means the Office of the Comptroller of the Currency. &#8220;Parties&#8221; means both Ameriprise Bank, FSB and Ameriprise Certificate Company. &#8220;Party&#8221; means either Ameriprise Bank, FSB or Ameriprise Certificate Company, as applicable. &#8220;Party Data&#8221; means data and information supplied to Servicing Party by Receiving Party for purposes of using the Services. &#8220;Receiving Party&#8221; means the Party that obtains Services from Servicing Party pursuant to the Agreement. </FONT></DIV>
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<DIV><FONT size="1" style="font-size:1pt;color:white">Page 2 of 7 &#8220;Services&#8221; shall have the meaning set forth in Section 2. &#8220;Servicing Party&#8221; means the Party that provides Services to Receiving Party pursuant to this Agreement. &#8220;Transactions with Affiliates Rules&#8221; shall have the meaning set forth in the fourth recital above. &#8220;Transition Period&#8221; shall have the meaning set forth in Section 7(b). Section 2. Services. (a) Pursuant to the terms of the Co-brand Credit Card Agreement between Bank and U.S. Bank National Association d/b/a Elan Financial Services dated February 13, 2019, as amended, (the &#8220;Card Agreement&#8221;), the Bank has agreed to establish and maintain a rewards program throughout its term (&#8220;Rewards Program&#8221;) and has entered into an agreement with a rewards program provider for the servicing and management of the Rewards Program. (b) As part of the Rewards Program, the Bank makes available a range of redemption options in exchange for points earned under the Rewards Program. (c) As part of the available redemption options, the Company agrees to support and provide a credit to a client&#8217;s existing certificate account in exchange for the redemption of a defined value of rewards points under the Rewards Program. Section 3. Fulfillment of Services. (a) The Parties will use commercially reasonable efforts to perform their respective roles and responsibilities under this Agreement. (b) The Parties shall assist each other and provide information and assistance reasonably requested by a Party to successfully effectuate the Services under this Agreement, to respond to any inquiries or complaints from a Party or any of its customers, and to otherwise ensure that Services are provided at a high level of quality in a cost-effective manner. (c) In no event shall a Party engage in any activity in connection with their roles and responsibilities under this Agreement that would violate Applicable Law. (d) A Party shall promptly provide the other Party all such information and reports as may be reasonably re