Exhibit 10.11
Confidential Treatment
Requested . Confidential
treatment has been requested for portions of this exhibit. The copy
filed herewith omits the information subject to the confidentiality
request. Omissions are designated as
“[Redacted].” A complete version of this exhibit
has been filed separately with the Securities and Exchange
Commission.
SIXTH AMENDMENT TO
CREDIT CARD PROGRAM
AGREEMENT
This SIXTH AMENDMENT TO CREDIT CARD
PROGRAM AGREEMENT (this “ Sixth Amendment ”) is
effective as of June 1, 2009 (the “ Effective
Date ”), by and among Macy’s, Inc., f/k/a Federated
Department Stores, Inc., a Delaware corporation, (“
Macy’s, Inc. ”), FDS Bank, a federally-chartered
stock savings bank (“ FDS Bank ”), Macy’s
Credit and Customer Services, Inc., f/k/a FACS Group, Inc., an Ohio
corporation (“ MCCS ”), Macy’s Department
Stores, Inc., an Ohio corporation (“ Macy’s
”), Bloomingdale’s, Inc., an Ohio corporation (“
Bloomingdale’s ”) (collectively the “
Macy’s Companies ”), and Department Stores
National Bank, a national banking association, as assignee of
Citibank, N.A. (“ Bank ”).
WHEREAS, the Macy’s Companies
and Bank are parties to a certain Credit Card Program Agreement
dated as of June 1, 2005, as amended pursuant to amendments
effective October 24, 2005 and May 19, 2006, pursuant to
restated letter agreements effective December 18,
2006, March 22, 2007, April 6, 2007 and
June 1, 2007, pursuant to a restated amendment effective
February 3, 2008, and pursuant to an amendment (the “
Fifth Amendment ”) effective January 1, 2009,
respectively (as so amended, the “ Program Agreement
”), whereby Bank and the Macy’s Companies operate a
credit card program (the “ Program ”), as more
fully described in the Program Agreement;
WHEREAS, the parties hereto desire
to amend the Program Agreement in accordance with Section 18.5
of the Program Agreement, effective as of the Effective
Date.
NOW, THEREFORE, for good and
valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto, intending to be legally
bound, agree as follows:
1. Defined Terms
. Capitalized terms used
without definition in this Sixth Amendment have the meanings
assigned to them in the Program Agreement.
2. [redacted ]
3. [redacted]
4. Amendment of Schedule
1.1(i) .
Schedule 1.1(i) of the Program
Agreement is hereby amended by deleting the form of Program P&L
contained in such Schedule and replacing it with the new form of
Program P&L, attached hereto.
5. Amendment of Schedule
4.8(a) .
Schedule 4.8(a) of the Program
Agreement is hereby amended by deleting therefrom in its entirety
Section IV. “Funding for Loyalty Programs.”
6. Amendment of Schedule
9.2(c) .
Schedule 9.2(c) of the Program
Agreement is hereby amended by deleting it in its entirety and
replacing it with the new Schedule 9.2(c), attached
hereto.
7. Amendment of Schedules
9.3(a) and 9.3(a)(i) .
[redacted]
8. Capacity; Authorization;
Validity.
(a) Macy’s, Inc. hereby
represents and warrants to Bank as of the date hereof
that:
(i) Each Macy’s Company has
all necessary corporate or similar power and authority to
(A) execute and enter into this Sixth Amendment and
(B) perform the obligations required of such Macy’s
Company hereunder and the other documents, instruments and
agreements to be executed and delivered by such Macy’s
Company pursuant hereto.
(ii) The execution and delivery by
the Macy’s Companies of this Sixth Amendment and all
documents, instruments and agreements executed and delivered by the
Macy’s Companies pursuant hereto, and the consummation by the
Macy’s Companies of the transactions specified herein, have
been duly and validly authorized and approved by all necessary
corporate or similar actions of the Macy’s
Companies.
(iii) This Sixth Amendment
(A) has been duly executed and delivered by the Macy’s
Companies, (B) constitutes the valid and legally binding
obligation of the Macy’s Companies, and (C) is
enforceable against the Macy’s Companies in accordance with
its terms (subject to applicable bankruptcy, insolvency,
reorganization, receivership or other laws affecting the rights of
creditors generally and by general equity principles including
those respecting the availability of specific
performance).
(b) Bank hereby represents and
warrants to the Macy’s Companies as of the date
hereof:
(i) Bank has all necessary corporate
or similar power and authority to (A) execute and enter into
this Sixth Amendment and (B) perform the obligations required
of it hereunder and the other documents, instruments and agreements
to be executed and delivered by Bank pursuant hereto.
(ii) The execution and delivery by
Bank of this Sixth Amendment and all documents, instruments and
agreements executed and delivered by Bank pursuant hereto, and the
consummation by Bank of the transactions specified herein, has been
duly and validly authorized and approved by all necessary corporate
or similar actions of Bank.
(iii) This Sixth Amendment
(A) has been duly executed and delivered by Bank,
(B) constitutes the valid and legally binding obligation of
Bank and (C) is enforceable against Bank in accordance with
its terms (subject to applicable bankruptcy, insolvency,
reorganization, receivership or other laws affecting the rights of
creditors generally and by general equity principles including
those respecting the availability of specific
performance).
9. Effect of Amendment
. This Sixth Amendment is
effective as of the Effective Date and is hereby incorporated into
and made a part of the Program Agreement. Except as amended by this
Sixth Amendment, all terms and provisions of the Program Agreement
shall continue and remain in full force and effect and binding upon
the parties thereto.
10. Binding Effect
. This Sixth Amendment
shall be binding in all respects and inure to the benefit of the
successors and permitted assigns of the parties hereto.
11. Governing Law
. This Sixth Amendment
and all rights and obligations hereunder, including matters of
construction, validity and performance, shall be governed by and
construed in accordance with the laws of the State of Delaware
applicable to contracts made to be performed within such State and
applicable federal law.
12.
Counterparts/Facsimiles . This Sixth Amendment may be executed in any
number of counterparts, all of which together shall constitute one
and the same instrument, but in making proof of this Sixth
Amendment, it shall not be necessary to produce or account for more
than one such counterpart. Any facsimile of an executed counterpart
shall be deemed an original.
[Signatures appear on following
page]
IN WITNESS WHEREOF, each of the Parties hereto
has caused this Sixth Amendment to be duly executed as of the date
first above written.
|
|
|
|
|
|
|
DEPARTMENT
STORES NATIONAL BANK,
|
|
|
|
By:
|
|
/s/ Douglas C.
Morrison
|
|
|
Name: Douglas
C. Morrison
|
|
|
Title: Vice
President & CFO
|
|
|
|
|
MACY’S,
INC.
|
|
|
|
By:
|
|
/s/ Brian M.
Szames
|
|
|
Name: Brian M.
Szames
|
|
|
Title:
Treasurer
|
|
|
|
|
FDS
BANK
|
|
|
|
By:
|
|
/s/ Teresa
Huxel
|
|
|
Name: Teresa
Huxel
|
|
|
Title:
President
|
|
|
|
|
MACY’S
CREDIT AND CUSTOMER SERVICE, INC.
|
|
|