Neiman Marcus 2008 Annual Report Download - page 760

Exhibit 10.48
Confidential Treatment Requested.
Certain material (indicated by asterisks) has been omitted from this document and filed separately with the Securities and Exchange
Commission pursuant to a request for confidential treatment.
THIRD AMENDMENT TO CREDIT CARD PROGRAM AGREEMENT
This Third Amendment to Credit Card Program Agreement ("First Amendment") is made effective as of the 1st day of
August, 2006, by and among The Neiman Marcus Group, Inc. ("NMG"), Bergdorf Goodman, Inc. ("BG, and together with NMG, the
"NMG Companies"), HSBC Bank Nevada, N.A., a national credit card bank ("Bank"), and Household Corporation, a Delaware
corporation ("Primary Servicer") to that certain Credit Card Program Agreement ("Agreement") executed as of June 8, 2005 and
amended by the First Amendment to Credit Card Program Agreement executed as of April 30, 2006 ("First Amendment") and the
Second Amendment to Credit Card Program Agreement executed as of June 29, 2006 ("Second Amendment") by and between the
parties hereto.
W I T N E S S E T H:
WHEREAS, the parties wish to amend the Agreement as set forth herein;
NOW, THEREFORE, in consideration of the terms, conditions and mutual covenants contained herein, and for good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
1. Schedule 7.3(a) (C) is deleted in its entirety and replaced with the following new Schedule 7.3(a)(c):
"C. Late and Early Stage Collections. Bank will meet the following service levels `on an average each month:
1. The percentage of time that Bank shall make its collections operations available during the following times: [***]
Monday through Thursday 8:00 a.m. to 9:00 p.m. Central time
Friday 8:00 a.m. to 5:00 p.m. Central time
Saturday 8:00 to 12:00 p.m. Central time
Sunday None. Closed.
2. The percentage of time that Bank shall maintain a contact penetration for the following categories of Accounts:
[***]*
—
Balances greater than [***] which
are [***] or more cycles delinquent every Month
—
Balances greater than [***] which
are [***] or more cycles delinquent every Month
3. The Parties agree to mutually review and amend, if necessary, Schedule 7.3(a)(C) if the Cardholder Agreement is
materially altered.
4. To the extent the provisions of this Third Amendment are inconsistent with the Agreement, this Third Amendment
shall govern.
5. This Third Amendment supersedes all prior communications and shall be binding upon and inure to the benefit of
the parties, their respective successors and assigns.
6. All capitalized terms not otherwise defined herein shall have the same meaning afforded them in the Agreement.
Except as otherwise modified herein, the terms and conditions of the Agreement remain in full force and effect.
IN WITNESS WHEREOF, each of the Parties has caused this Third Amendment to be duly executed as of the date first
above written.