Common use of Technology Plan Clause in Contracts

Technology Plan. (a) The parties will designate members of the Steering Committee to serve on a Technology Subcommittee to meet to review and assess the then-current IT systems, including an assessment of the appropriate direction for such systems and services in light of Capital One’s business priorities and strategies and competitive market forces, including (i) the identification of proposed Equipment and Software strategies and direction; (ii) a description of the types of personnel skills and abilities needed to respond to any recommended changes or upgrades in technology; (iii) a general plan and a projected time schedule for developing and achieving the recommended elements; and (iv) references to appropriate information services operations platforms that support Service Level requirements, exploit industry trends in production capabilities and provide potential price performance improvement opportunities. (b) The Technology Subcommittee of the Steering Committee shall meet at such times and frequency as determined by the Steering Committee to support Capital One’s annual business planning cycle and to reflect changes in the business of Capital One that materially impact the then-current IT systems.