Exhibit 10.2


 





 


 


 


 


FIRST AMENDMENT


 


FIRST AMENDMENT (this
“Amendment”), dated as of December 9, 2016, entered into pursuant to the CREDIT AGREEMENT, dated as of September
16, 2014 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”),
among CDK GLOBAL, INC. (f.k.a. CDK GLOBAL HOLDINGS, LLC) (the “Company”), the Borrowing Subsidiaries from time
to time party thereto, the Lenders party thereto and JPMORGAN CHASE BANK, N.A., as Administrative Agent (the “Administrative
Agent”). Capitalized terms used but not otherwise defined herein shall have the meanings assigned to such terms in the
Credit Agreement.


 


W I T N E S S E T H:


 


WHEREAS, the parties to this Amendment wish
to amend certain provisions of the Credit Agreement in the manner hereinafter set forth; and


 


WHEREAS, this Amendment is entered into pursuant
to Section 10.02 of the Credit Agreement;


 


NOW, THEREFORE, in consideration of the premises
and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
hereby agree as follows:


 


1.                 
Amendment of the Credit Agreement. Effective as of the Amendment Effective Date (as defined below), the Credit Agreement
is hereby amended as follows:


 


(a)               
The following definitions are inserted into Section 1.01 of the Credit Agreement in their appropriate alphabetical positions:


 


““Bail-In
Action” means the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect
of any liability of an EEA Financial Institution.”


 


““Bail-In
Legislation” means, with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European
Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is
described in the EU Bail-In Legislation Schedule.”


 


““EEA
Financial Institution” means (a) any credit institution or investment firm established in any EEA Member Country which
is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent
of an institution described in clause (a) of this definition or (c) any financial institution established in an EEA Member Country
which is a subsidiary of an institution described in clause (a) or (b) of this definition and is subject to consolidated supervision
with its parent.”


 



     


    
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““EEA
Member Country” means any of the member states of the European Union, Iceland, Liechtenstein and Norway.”


 


““EEA
Resolution Authority” means any public administrative authority or any person entrusted with public administrative authority
of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution.”


 


““EU
Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or
any successor person), as in effect from time to time.”


 


““Write-Down
and Conversion Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion powers of such
EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down
and conversion powers are described in the EU Bail-In Legislation Schedule.”


 


(b)              
The definition of “Change in Control” in Section 1.01 of the Credit Agreement is hereby amended by adding the
word “or” after clause (b)(i), adding the words “or appointed, or approved prior to their election,” immediately
after the word “nominated” in clause (b)(ii) and deleting clause (b)(iii) in its entirety.


 


(c)               
The definition of “Consolidated EBITDA” in Section 1.01 of the Credit Agreement is hereby amended by restating
clause (ix) thereof in its entirety as follows:


 


“(ix) any “restructuring
expenses” and “other business transformation expenses” for such period (if incurred prior to June 30, 2020) attributable
to the “Business Transformation Plan” (as each such term is used in the Company’s annual report on Form 10-K
for the fiscal year ended June 30, 2016 and its quarterly report on Form 10-Q for the fiscal quarter ended September 30, 2016);
provided, that (A) such expenses shall have been determined in a manner consistent with the Company’s practices prior
to the date of the First Amendment to this Agreement and reflected as such in the Company’s annual or quarterly reports filed
with the SEC, (B) the aggregate amount of such expenses incurred during the fiscal quarters of the Company ended on March 31, 2016,
June 30, 2016, and September 30, 2016, shall be deemed to be $18,900,000, $26,200,000 and $20,900,000, respectively, and (C) Consolidated
EBITDA may not be increased by more than $125,000,000 of such expenses during any period of four fiscal quarters or by more than
$275,000,000 of such expenses during the term of this Agreement;”


 


(d)              
The definition of “Defaulting Lender” in Section 1.01 of the Credit Agreement is hereby amended by removing
the word “or” after clause (c), adding “or” at the end of clause (d) and adding the following as a new
clause (e) thereof:


 



     


    
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“(e) has, or has a direct
or indirect parent that has, become the subject of a Bail-In Action.”


 


(e)               
The definition of “Eligible Assignee” in Section 1.01 of the Credit Agreement is hereby amended by replacing
clause (ii) of the proviso therein in its entirety with the following:


 


“(ii) neither any individual,
nor the Company or any Affiliate of the Company, shall qualify as an Eligible Assignee”


 


(f)               
Section 2.16 of the Credit Agreement is hereby amended by adding the following new clause (h) immediately after clause (g)
thereof:


 


“(h) If any party determines,
in its sole discretion exercised in good faith, that it has received a refund of any Taxes as to which it has been indemnified
pursuant to this Section (including by the payment of additional amounts pursuant to this Section), it shall pay to the indemnifying
party an amount equal to such refund (but only to the extent of indemnity payments made under this Section with respect to the
Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party and without interest
(other than any interest paid by the relevant Governmental Authority with respect to such refund). Such indemnifying party, upon
the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this paragraph (plus
any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event that such indemnified party
is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this paragraph, in
no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this paragraph the payment
of which would place the indemnified party in a less favorable net after-Tax position than the indemnified party would have been
in if the indemnification payments or additional amounts giving rise to such refund had never been paid. This paragraph shall not
be construed to require any indemnified party to make available its Tax returns (or any other information relating to its Taxes
that it deems confidential) to the indemnifying party or any other Person.”


 


(g)              
Section 6.01(f) of the Credit Agreement is hereby amended by replacing the words “Section 6.02(l)” with “Section
6.02(k)”.


 


(h)              
Clause (a)(i) of Section 10.01 of the Credit Agreement is hereby amended to read as follows:


 


“if to the Company, to it
at 1950 Hassell Road, Hoffman Estates, IL 60169, Attention of General Counsel (Fax No. 847-839-2604), with a copy to Paul,
Weiss, Rifkind, Wharton & Garrison LLP, 1285 Avenue of the Americas, New York, NY 10019-6064, Attention of Monica K. Thurmond
(Fax No. 212-492-0055);”


 



     


    
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(i)                
Article 10 of the Credit Agreement is hereby amended by adding a new Section 10.17 as follows:


 


“SECTION
10.17. Acknowledgement and Consent to Bail-In of EEA Financial Institutions. Notwithstanding anything to the
contrary in any Loan Document or in any other agreement, arrangement or understanding among the parties hereto, each party hereto
acknowledges that any liability of any EEA Financial Institution arising under any Loan Document, to the extent such liability
is unsecured, may be subject to the Write-Down and Conversion Powers of an EEA Resolution Authority and agrees and consents to,
and acknowledges and agrees to be bound by:


 


(a)       the
application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which
may be payable to it by any party hereto that is an EEA Financial Institution; and


 


(b)       the
effects of any Bail-In Action on any such liability, including, if applicable:


 


(i) a reduction
in full or in part or cancellation of any such liability;


 


(ii) a
conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial Institution,
its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or
other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement
or any other Loan Document; or


 


(iii) the variation
of the terms of such liability in connection with the exercise of the Write-Down and Conversion Powers of any EEA Resolution Authority.”


 


2.                 
Representations and Warranties. To induce the Lenders to enter into this Amendment, the Company represents and warrants
to the Lenders that:


 


(a)               
this Amendment has been duly executed and delivered by the Company and constitutes a legal, valid and binding obligation
of the Company enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium,
or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered
in a proceeding in equity or at law;


 


(b)              
before and after giving effect to this Amendment, the representations and warranties set forth in the Credit Agreement are
true and correct (i) in the case of representations and warranties qualified as to materiality, in all respects, and (ii) otherwise,
in all material respects, in each case on and as of the Amendment Effective Date, except to the extent such representations and
warranties expressly relate to an earlier date, in which case such representations and warranties shall be true and correct (A)
in the case of representations and warranties qualified as to materiality, in all respects, and (B) otherwise, in all material
respects, as of such earlier date; and


 



     


    
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(c)               
as of the Amendment Effective Date and immediately after giving effect to this Amendment, no Default or Event of Default
has occurred and is continuing.


 


3.                 
Effectiveness. This Amendment shall become effective as of the first date (the “Amendment Effective Date”)
on which the Administrative Agent (or its counsel) shall have received (a) counterparts of this Amendment signed on behalf
of the Company, Lenders constituting the Required Lenders and the Administrative Agent, or written evidence satisfactory to the
Administrative Agent (which may include facsimile or other electronic transmissions of signed counterparts of this Amendment) that
such parties have signed counterparts of this Amendment and (b) from the Company, payment of all fees and expenses required
to be paid or reimbursed hereunder.


 


4.                 
Effect of Amendment. Except as specifically stated herein, all of the terms and conditions of the Credit Agreement
shall remain in full force and effect. On and after the Amendment Effective Date, all references in the Credit Agreement to “hereunder”,
“hereof”, “herein”, or words of like import, and all references to the “Credit Agreement” in
any other Loan Document or instrument, shall be deemed to mean the Credit Agreement, as amended by this Amendment. Nothing herein
shall be deemed to entitle the Company to a waiver, amendment, modification or other change of any of the terms, conditions, obligations,
covenants or agreements contained in the Credit Agreement as amended hereby in similar or different circumstances. This Amendment
constitutes a “Loan Document” for all purposes of the Credit Agreement and the other Loan Documents.


 


5.                 
Expenses.The Company agrees to reimburse the Administrative Agent for the Administrative Agent’s reasonable
and documented out-of-pocket expenses in connection with this Amendment, including the reasonable fees, charges and disbursements
of counsel for the Administrative Agent.


 


6.                 
Applicable Law. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND
CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.


 


7.                 
Counterparts.  This Amendment may be executed in counterparts (and by different parties hereto on different
counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single agreement.
Delivery of an executed counterpart of a signature page of this Amendment by facsimile or other electronic imaging shall be effective
as delivery of a manually executed counterpart of this Amendment.


 


8.                 
Headings. Section headings used herein are for convenience of reference only, are not part of this Amendment and
shall not affect the construction of, or be taken into consideration in interpreting, this Amendment.


 



     


     


    




IN WITNESS WHEREOF, each of the undersigned
has caused this Amendment to be duly executed and delivered by its proper and duly authorized officer as of the date first set
forth above.


 


 





		CDK GLOBAL, INC.



	 	 
	 	 
	 	By:	/s/ Alfred A. Nietzel
	 	 	Name: Alfred A. Nietzel
	 	 	Title:  EVP and CFO







 


 



     


     


    


	 	ACKNOWLEDGED AND AGREED TO:
	 	 
	 	JPMORGAN CHASE BANK, N.A.,
	
         
	as Administrative Agent




	 	 
	 	 
	 	By:	/s/ Nicolas Gitron-Beer
	 	 	Name: Nicolas Gitron-Beer
	 	 	Title: Vice President
	 	 	 







 


 



     


     


    

LENDER SIGNATURE PAGE TO


FIRST AMENDMENT TO


2014 CDK CREDIT AGREEMENT

 

 

 

	 	Name of Institution:	 	JPMORGAN CHASE BANK, N.A.
	 	 	 	 
	 	 	by	/s/   Nicolas Gitron-Beer
	 	 	 	Name: Nicolas Gitron-Beer
	 	 	 	Title:Vice President





 
 
 
 
 
 


     


     


    

LENDER SIGNATURE PAGE TO


FIRST AMENDMENT TO


2014 CDK CREDIT AGREEMENT

 

 

 
	 	Name of Institution:	 	BANK OF AMERICA, N.A.
	 	 	 	 
	 	 	by	/s/   Arti Dighe
	 	 	 	Name:  Arti Dighe
	 	 	 	Title:Vice President





 
 
 
 
 
 


     


     


    

LENDER SIGNATURE PAGE TO


FIRST AMENDMENT TO


2014 CDK CREDIT AGREEMENT

 

 

 
	 	Name of Institution:	 	Bank of Montreal, Chicago Branch
	 	 	 	 
	 	 	by	/s/ Randon Gardley
	 	 	 	Name:Randon Gardley
	 	 	 	Title:Vice President
	 	 	 	 
	 	 	by	 
	 	 	 	Name:
	 	 	 	Title:
	 	 	 	 





 
 
 
 
 
 


     


     


    

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2014 CDK CREDIT AGREEMENT

 

 

 
	 	Name of Institution:	 	BRANCH BANKING AND TRUST COMPANY
	 	 	 	 
	 	 	by	/s/  Andrey Rudnitsky
	 	 	 	Name:Andrey Rudnitsky
	 	 	 	Title:Vice President





 
 
 
 
 
 


     


     


    

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FIRST AMENDMENT TO


2014 CDK CREDIT AGREEMENT

 

 

 
	 	Name of Institution:	 	Citibank, N.A.
	 	 	 	 
	 	 	by	/s/  James M. Walsh
	 	 	 	Name: James M. Walsh
	 	 	 	Title:Vice President





 
 
 
 
 
 


     


     


    

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FIRST AMENDMENT TO


2014 CDK CREDIT AGREEMENT

 

 

 
	 	Name of Institution:	 	Citizens Bank, N.A.,
	 	 	 	 
	 	 	by	/s/  Ricky Simmons
	 	 	 	Name: Ricky Simmons
	 	 	 	Title:Vice President





 
 
 
 
 
 


     


     


    

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2014 CDK CREDIT AGREEMENT

 

 

 
	 	Name of Institution:	 	Danske Bank A/S:
	 	 	 	 
	 	 	by	/s/ Merete Ryvald
	 	 	 	Name: Merete Ryvald
	 	 	 	Title:Chief Loan Manager
	 	 	 	 
	 	 	by	/s/ Gert Carstens
	 	 	 	Name: Gert Carstens
	 	 	 	Title:Senior Loan Manager
	 	 	 	 





 
 
 
 
 
 


     


     


    

LENDER SIGNATURE PAGE TO


FIRST AMENDMENT TO


2014 CDK CREDIT AGREEMENT

 

 

 
	 	Name of Institution:	 	Lloyds Bank, plc
	 	 	 	 
	 	 	by	/s/  Erin Walsh
	 	 	 	Name: Erin Walsh
	 	 	 	Title:Assistant Vice President W004
	 	 	 	 
	 	 	by	/s/ Daven Popat
	 	 	 	Name:  Daven Popat
	 	 	 	Title:Senior Vice President P003





 
 
 
 
 
 


     


     


    

LENDER SIGNATURE PAGE TO


FIRST AMENDMENT TO


2014 CDK CREDIT AGREEMENT

 

 

 
	 	Name of Institution:	 	Morgan Stanley Bank, N.A.
	 	 	 	 
	 	 	by	/s/   Christopher Winthrop
	 	 	 	Name: Christopher Winthrop
	 	 	 	Title:Authorized Signatory





 
 
 
 
 
 


     


     


    

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2014 CDK CREDIT AGREEMENT

 

 

 
	 	Name of Institution:	 	The Northern Trust Company:
	 	 	 	 
	 	 	by	/s/   Andrew D. Holtz
	 	 	 	Name: Andrew D. Holtz
	 	 	 	Title:Senior Vice President





 
 
 
 
 
 


     


     


    

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	 	Name of Institution:	 	SABADELL UNITED BANK, N.A.
	 	 	 	 
	 	 	by	/s/   Enrique Castillo
	 	 	 	Name:  Enrique Castillo
	 	 	 	Title:Structured Finance Americas Director





 
 
 
 
 
 


     


     


    

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	 	Name of Institution:	 	Société Générale
	 	 	 	 
	 	 	by	/s/   Richard Bernal
	 	 	 	Name:   Richard Bernal
	 	 	 	Title:Managing Director





 
 
 
 
 
 


     


     


    


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	 	Name of Institution:	 	The Bank of Tokyo-Mitsubishi UFJ, Ltd.,
	 	 	 	 
	 	 	by	/s/   Lillian Kim
	 	 	 	Name:    Lillian Kim
	 	 	 	Title:Director


 
 
 
 
 
 


     


     


    

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	 	Name of Institution:	 	U.S. BANK NATIONAL ASSOCIATION
	 	 	 	 
	 	 	by	/s/   Mark Irey
	 	 	 	Name:Mark Irey
	 	 	 	Title:Vice President





 
 
 
 
 
 

     


     


    




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	 	Name of Institution:	 	WELLS FARGO BANK, N.A.
	 	 	 	 
	 	 	by	/s/   Lindsey McGraw
	 	 	 	Name:Lindsey McGraw
	 	 	 	Title:Director