AMENDMENT N0. 9 NON-COMPETITION AGREEMENTNonCompetition Agreement |
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AMENDMENT
N0. 9
NON-COMPETITION
AGREEMENT
AMENDMENT
NO. 9, dated as of June 22, 2008, among The STUDENT LOAN CORPORATION, a Delaware
corporation (“Company”), CITIBANK, N.A., a national banking association
(“Citibank”), CITIGROUP, INC., a Delaware corporation and the ultimate parent of
Citibank (“Citigroup” and, together with Citibank, the “Parents”).
WHEREAS,
the Company, Citibank (successor by merger to Citibank (New York State)), and
Citicorp, a Delaware corporation, have heretofore entered into a Non-Competition
Agreement, dated as of December 22, 1992, the term of which was extended
pursuant to a letter agreement dated November 1, 1999, the term of which was
further extended pursuant to Amendment No. 1 dated as of June 22, 2000,
Amendment No. 2 dated as of June 22, 2001, Amendment No. 3 dated as of May 5,
2002, Amendment No. 4 dated as of June 22, 2003, amendment No. 5 dated as of
June 22, 2004, Amendment No. 6 dated as of June 22, 2005, Amendment No. 7 dated
as of June 22, 2006, and Amendment No. 8, dated as of June 22, 2007, and
Citigroup Inc. was substituted as a party in lieu of Citicorp (the
Non-Competition agreement, as so extended and amended, being referred to herein
as the “Agreement”); and
WHEREAS,
the parties to the Agreement wish to extend the term of the
Agreement.
NOW,
THEREFORE, for an in consideration of the premises and of other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Company, Citibank and Citigroup hereby consent and agree as
follows:
SECTION
1. Unless otherwise defined in this Amendment No. 9, all defined terms used
therein shall have the meanings ascribed to such terms in the
Agreement.
SECTION
2. The term of the Agreement (originally scheduled to expire on December 22,
1999, and previously extended to June 22, 2008) shall be extended to August 8,
2008.
SECTION
3. This Amendment No. 9 may be executed in two or more counterparts, each of
which shall be an original, but all of which together shall constitute one and
the same instrument.
SECTION
4. From and after the date of this Amendment No. 9, all references in
the Agreement to this “Agreement” shall refer to the Agreement as amended
hereby.
IN
WITNESS WHEREOF, the Company, Citibank and Citigroup have each caused this
Amendment No. 9 to the Agreement to be duly executed by the respective officers
as of the day and year first above written.
THE STUDENT LO
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