PAGE 1
January 9, 1997
American Express Bank Ltd.
00X, Xxx Xxxxxxx Xxxxx
00 Xxxxxxxxx
Xxxx Xxxx
Ladies and Gentlemen:
This is to confirm our agreement that, effective upon your
acceptance of and agreement to this letter, the attached Schedule B
will replace the current Schedule B to the Marketing Agreement made
as of October 10, 1991, between IDS Certificate Company and
American Express Bank Ltd., and as subsequently supplemented or
amended, in accordance with Section I(1) of said Marketing
Agreement.
Very truly yours,
IDS CERTIFICATE COMPANY
By: /s/ Xxxxxx X. Xxxxxxxx
Xxxxxx X. Xxxxxxxx
President
Accepted and agreed to by
AMERICAN EXPRESS BANK LTD.
By: /s/ Xxxx Xxx Xxxxxxxxxx
Xxxx Xxx Xxxxxxxxxx
Senior Director
Date: 1/13/97
PAGE 2
Schedule B
1. Pursuant to Section I(1) of the Marketing Agreement dated as
of October 10, 1991, AEB may offer a face-amount certificate
issued by Company that guarantees interest determined in
advance for a term of 1, 2, 3, 6, 12, 24 or 26 months, at the
client's option (the "Product").
2. AEB shall be paid compensation for marketing of the Product
through AEB's Hong Kong branch as follows:
(a) For Products sold as a result of marketing through the
Hong Kong branch in an amount equal to $1 million or
more, a fee equal to .50% per annum of the amount
outstanding for each Product;
(b) For Products sold as a result of marketing through the
Hong Kong branch in an amount from $500,000 to $999,999,
a fee equal to .65% per annum of the amount outstanding
for each Product;
(c) For Products sold as a result of marketing through the
Hong Kong branch in an amount from $250,000 to $499,999,
a fee equal to .70% per annum of the amount outstanding
for each Product; and
(d) For Products sold as a result of marketing through the
Hong Kong branch in an amount from $100,000 to $249,999,
a fee equal to 1.25% per annum of the amount outstanding
for each Product.
3. The amount outstanding shall be calculated as of the end of
each term or Product quarter, as the case may be. The
calculations shall take into account any additions to or
withdrawals from a Product. Compensation shall be calculated
on a 360-day year (30 day month) basis. AEB shall be paid
after the end of each term for the 1,2, and 3 month term
Products and after the end of each Product quarter for the 6,
12, 24 and 36 month term Products. The compensation payable
to AEB for Product terms and quarters ending during any given
calendar month shall be aggregated and paid to AEB in a lump
sum promptly after each calendar month end.
