EIGHTH AMENDMENT TO SERVICE AGREEMENT
Exhibit
10.25
EIGHTH AMENDMENT TO SERVICE AGREEMENT
This Eighth Amendment to Service Agreement (this “Amendment”) is made and entered
into as of this 9th day of October, 2009 between First Data Merchant Services
Corporation (“FDMS”) and iPayment, Inc. (“Customer”) and amends that certain Service Agreement
by and between FDMS and Customer dated July 1, 2002, as amended (the “Service Agreement”).
Except as supplemented or amended by this Amendment, the provisions of the Service Agreement
shall continue in full force and effect, and if there shall be any conflict between the
provisions of this Amendment and the Service Agreement, the terms of this Amendment shall
control. Each capitalized term used but not defined herein shall have the meaning assigned in
the Service Agreement.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which
is acknowledged by the parties, FDMS and Customer hereby agree as follows:
1. Except as otherwise specifically set forth herein, the terms of this Amendment will be
effective
as of August 1, 2009.
2. Section 8.1 of the Service Agreement is hereby deleted in its entirety and replaced with the
following:
“8.1 Term. This Agreement is effective from the date hereof and shall extend through
December 31, 2014 (the “Original Term”). Processing Year 1 of the Term shall commence
on July 1, 2002 and continue through June 30, 2003. For purposes of this Agreement, a
“Processing Year” means each twelve (12) month period commencing on the first day of
July and ending on the last day of the following June, with the exception of the
twelfth Processing Year, which shall end on December 31, 2014.”
3. Item Numbers 63, 0270 and 2880 listed in Section II of Exhibit B to the Service Agreement are
hereby amended and restated as follows: *
| * | Omitted pursuant to a confidential treatment request. The confidential portion has been filed separately with the SEC. |
4. The following shall be added as a new Section III of Exhibit B to the Service
Agreement:*
5. This Amendment may be executed in two or more counterparts, each of which shall be
deemed an original, and taken together they shall be considered one agreement.
IN WITNESS WHEREOF, the parties have each caused this Agreement to be executed by their
duly authorized officers as of date listed above.
| First Data Merchant Services Corporation | iPayment, Inc. | |||||||
By:
|
/s/ Xxxxxxxxx Xxxxxx
|
By: | /s/ Xxxx Xxxxxxxx
|
|||||
| Printed Name: Xxxxxxxxx Xxxxxx | Printed Name: Xxxx Xxxxxxxx | |||||||
| Title: SVP | Title: President | |||||||
| * | Omitted pursuant to a confidential treatment request. The confidential portion has been filed separately with the SEC. |
SCHEDULE 1
Eligible Fees
Eligible Services
*
Non-Eligible Services
*
| * | Omitted pursuant to a confidential treatment request. The confidential portion has been filed separately with the SEC. |
