Exhibit 99.1
THIRD ADDENDUM TO APPENDIX A OF
FOURTH AMENDED AND RESTATED SERVICE AGREEMENT
This Third Addendum to Appendix A (the “Third Addendum”), dated October 7, 2022, is to the Fourth Amended and Restated Service Agreement dated June 1, 2022 (the "Agreement"), by and between Comenity Bank (“Bank”), a Delaware state bank, with its principal place of business at One Righter Parkway, Suite 100, Wilmington, Delaware 19803 and Comenity Servicing LLC (“Servicer”), a Texas limited liability company with its principal place of business at 3095 Loyalty Circle, Columbus, Ohio 43219.
RECITALS
WHEREAS, Bank and Servicer entered into that certain Agreement to outsource certain services to Servicer; and
WHEREAS, Bank and Servicer desire to modify certain Performance Standards set forth in Exhibit A to the Agreement.
NOW, THEREFORE, in consideration of the mutual agreements hereinafter set forth, and for other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, Bank and Servicer agree as follows:
1. Performance Standards. Bank and Servicer agree to amend the Performance Standards set forth in Appendix A to the Agreement, such that certain Performance Standards are hereby amended as set forth in further detail in Exhibit A hereto.
2. Effective Date: The parties agree that the amendments to the Performance Standards, as set forth in Exhibit A hereto, shall be effective as of September 1, 2022 (the “Third Addendum Effective Date”).
3. Miscellaneous. Capitalized terms not otherwise defined in this Addendum shall have the meanings assigned to them in the Agreement. Other than as set forth above and in Exhibit A hereto, the parties agree that the Agreement, as amended by this Addendum, shall continue in full force and effect. The parties may execute this Addendum in one or more counterparts, each of which shall be deemed an original, but all of which shall constitute but one and the same instrument.
IN WITNESS WHEREOF, the parties have caused this Addendum to be executed by their authorized officers effective as of the Third Addendum Effective Date.
Comenity Bank
By: /s/ Baron Schlachter
Name: Baron Schlachter
Title: Comenity Bank President
Comenity Servicing LLC
By: /s/ Tammy McConnaughey
Name: Tammy McConnaughey
Title: EVP, Credit Operations and Credit Risk
EXHIBIT A
| 1.
| Amendments. Set forth below are revisions to existing Performance Standards, all of which shall be incorporated into Appendix A to the Agreement. |
| Service | Performance Standard | Measuring Period | Amended/ Added |
Information Technology Services/Outsourcing • Provide Information Technology platform and services, including outsourcing of Information Technology platform and services. • Provide network and telecommunications access. | Maintain 99.5% or greater Unix & Linux Server availability | M | Amended |
Maintain 99.5% or greater Windows Server availability | M | Amended |
