Amendment No. 4 to the Alliance Data Systems 401(k) and Retirement Savings Plan

Contract Categories: Human Resources › Retirement Agreements
Summary

This amendment, effective January 1, 2003, updates the Alliance Data Systems 401(k) and Retirement Savings Plan. It ensures that former employees of American Electric Power Service Corporation, who joined Alliance Data Systems through Mutual Energy Services Company as of March 1, 2003, will have their prior service with AEP counted for eligibility and vesting purposes under the new plan. The amendment clarifies how these employees' service dates are credited, providing continuity in their retirement benefits.

Read More Arrow
EX-10.32 5 a2129722zex-10_32.htm EXHIBIT 10.32
QuickLinks -- Click here to rapidly navigate through this document


Exhibit 10.32

AMENDMENT NO. 4 TO
THE ALLIANCE DATA SYSTEMS 401(K) AND RETIREMENT SAVINGS PLAN
(amended and restated as of January 1, 2001)

        ADS Alliance Data Systems, Inc. hereby adopts this Amendment No. 4 to the Alliance Data Systems 401(k) and Retirement Savings Plan (the "Plan"), effective as of January 1, 2003, except as otherwise provided.

    1.
    Section 1.67 of the Plan shall be amended by adding new subsection (D) at the end thereof to read as follows:

        Notwithstanding the foregoing, former employees of American Electric Power Service Corporation ("AEP") working for Mutual Energy Services Company, L.L.C., who became employees of the Company as of March 1, 2003, as the result of a stock purchase shall have the service credited to them for the purpose of determining eligibility to participate under the AEP 401(k) Plan, credited to them for the same purpose under the Plan.

    2.
    Section 1.68 of the Plan shall be amended by adding new subsection (F) at the end thereof to read as follows:

        Notwithstanding the foregoing, former employees of American Electric Power Service Corporation ("AEP") working for Mutual Energy Services Company, L.L.C., who became employees of the Company as of March 1, 2003, as the result of a stock purchase shall have the service credited to them for the purpose of determining their right to vest under the AEP 401(k) Plan, credited to them for the same purpose under the Plan.

    3.
    Appendix A shall be amended by adding the following new language at the end thereof:

Employing Company
   Years of Eligibility
   Years of Vesting
AEP   Date of hire with AEP, but
only if employed by the
Company as of 1/1/2003.		   Date of hire with AEP, but
only if employed by the
Company as of 1/1/2003.

        IN WITNESS WHEREOF, this amendment has been executed on this 9th day of June, 2003.

    ADS ALLIANCE DATA SYSTEMS, INC.

 
 
By:
/s/  DWAYNE H. TUCKER      
Dwayne Tucker,
Chief Administrative Officer


QuickLinks

    Exhibit 10.32
AMENDMENT NO. 4 TO THE ALLIANCE DATA SYSTEMS 401(K) AND RETIREMENT SAVINGS PLAN (amended and restated as of January 1, 2001)