J. C. Penney (JCP) Unit to Receive More Favorable Benefits in Private Label Card Program (GE)

October 15, 2013 8:39 AM EDT
On October 11, 2013, J. C. Penney Company, Inc.’s (NYSE: JCP) direct wholly-owned subsidiary J. C. Penney Corporation, Inc. (“JCPenney”) and GE Capital Retail Bank (NYSE: GE) entered into an amendment (the “Third Amendment”) to the amended and restated Consumer Credit Card Program Agreement dated as of November 5, 2009, as amended by the First Amendment thereto dated as of October 29, 2010 and the Second Amendment thereto dated as of January 30, 2013 (the “Agreement”) between JCPenney and GECRB. The Agreement covers the parties’ marketing and servicing alliance for JCPenney’s private label credit card (the “Program”).

The Third Amendment extends the term of the Agreement to February 1, 2020 and increases the financial benefits to be received by JCPenney under the Program.

For the agreement, click here.

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