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SCSS > SEC Filings for SCSS > Form 8-K on 17-Jan-2014All Recent SEC Filings

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Form 8-K for SELECT COMFORT CORP


17-Jan-2014

Entry into a Material Definitive Agreement, Financial Statements and Exhibits


ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

Effective as of January 13, 2014, Select Comfort Corporation ("Select" or the "Company"), GE Capital Retail Bank, formerly GE Money Bank ("GE") and Select Comfort Retail Corporation ("Retail") entered into a Twelfth Amendment (the "Twelfth Amendment") and a Thirteenth Amendment (the "Thirteenth Amendment") to the Amended and Restated Private Label Consumer Credit Card Program Agreement dated as of December 14, 2005, among those same parties, as previously amended up to the effective date of the Twelfth Amendment and Thirteenth Amendment (such agreement, as so previously amended, the "Program Agreement").

The Twelfth Amendment sets forth certain terms and conditions related to the engagement by Select of any third party vendor who may be retained for the purposes of undertaking certain roles and responsibilities with respect to processing transactions under the Program Agreement and who may have access to customer information. The Twelfth Amendment (a) obligates Select to obtain GE's approval prior to the engagement of any such third party vendor; (b) clarifies Select's obligations regarding compliance and data security in connection with the engagement of any such third party vendor; (c) clarifies ownership of customer information generated under the Program Agreement; and (d) provides additional rights to GE regarding the termination or suspension of the program in the event of non-compliance or breach by any such third party vendor.

The Thirteenth Amendment sets forth provisions that will allow the parties to establish a separate consumer credit program designed to operate in parallel with the consumer revolving financing program currently offered under the Program Agreement.

The foregoing descriptions of the Twelfth Amendment and the Thirteenth Amendment are qualified in their entirety by reference to the full text of the Twelfth Amendment and the Thirteenth Amendment, which are filed herewith as Exhibits 10.1 and 10.2, respectively, and are incorporated herein by reference.



ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits.
10.1         Twelfth Amendment to Amended and Restated Private Label Consumer
             Credit Card Program Agreement dated and executed January 13, 2014;


10.2         Thirteenth Amendment to Amended and Restated Private Label Consumer
             Credit Card Program Agreement dated and executed January 13, 2014.


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