Common use of Program Executives Clause in Contracts

Program Executives. (a) On a quarterly basis, the President of Company’s Financial and Retail Services division, or a successor with equivalent authority and scope of responsibility (“Company Executive”), and TD Bank Group’s Executive Vice President of North American Cards and Merchant Services, or a successor with equivalent authority and scope of responsibility (“Bank Executive”), shall meet to discuss the strategic direction and performance of the Program. The Program Executives shall monitor and review Program activities, the financial performance of the Program, key portfolio performance data, the activities, terms, features and functionality of competitive programs, the performance of each party’s Program Manager and Key Program Management Resources, and market trends. Either party may propose changes to the Program, including in connection with maintaining competitiveness of the Program, to the extent that this Agreement contemplates that such changes may be made from time to time in accordance with the procedures set forth in Section 3.4 and Section 3.5.