Document:

EX-4.4

 

Exhibit 4.4

FIRST AMENDMENT TO SEVENTH AMENDED AND RESTATED CREDIT

AGREEMENT

     This First Amendment to Seventh Amended and Restated Credit Agreement (this “Amendment”) is
made as of this 30th day of March, 2007 by and among Developers Diversified Realty Corporation, a
corporation organized under the laws of the State of Ohio (the “Borrower”), JPMorgan Chase Bank,
N.A., not individually, but as “Administrative Agent”, and the several banks, financial
institutions and other entities from time to time parties to this Agreement (the “Lenders”).

RECITALS

     A. Borrower, Administrative Agent, and the Lenders are parties to a Seventh Amended and
Restated Credit Agreement dated as of June 29, 2006 (the “Credit Agreement”). All capitalized
terms used in this Amendment and not otherwise defined herein shall have the meanings described as
such terms in the Credit Agreement.

     B. Borrower has requested changes to certain terms in the Credit Agreement as set forth herein
and the Lenders have agreed to such changes.

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

AMENDMENTS

     1. The foregoing recitals to this Amendment are incorporated into and made part of this
Amendment.

     2. The definition of “Investment” in Article I of the Credit Agreement is hereby amended and
restated in its entirety as follows:

     “Investment” of a Person means any loan, advance (other than commission, travel and similar
advances to officers and employees made in the ordinary course of business), extension of credit
(other than accounts receivable arising in the ordinary course of business on terms customary in
the trade), deposit account or contribution of capital by such Person to any other Person or any
investment in, or purchase or other acquisition of, the stock, partnership interests, notes,
debentures or other securities of any other Person made by such Person. For the avoidance of
doubt, an Investment shall not include any security of any Person that is convertible into,
exchangeable for or exercisable into or an option to purchase equity securities of Borrower.

     3. The definition of “Restricted Payment” is hereby deleted from Article I of the Credit
Agreement.

     4. Section 6.11 of the Credit Agreement (Restricted Payments) is hereby deleted in its
entirety.

     5. Borrower hereby represents and warrants that:

 

 

	 	(a)	 	no Default or Unmatured Default exists under the Loan
Documents;
	 
	 	(b)	 	the Loan Documents are in full force and effect and Borrower
has no defenses or offsets to, or claims or counterclaims relating to, its
obligations under the Loan Documents;
	 
	 	(c)	 	there has been no material adverse change in the financial
condition of Borrower as shown in its September 30, 2006 financial statements;
	 
	 	(d)	 	Borrower has full corporate power and authority to execute this
Amendment and no consents are required for such execution other than any
consents which have already been obtained; and
	 
	 	(e)	 	all representations and warranties contained in Article 5 of
the Credit Agreement are true and correct as of the date hereof and all
references therein to “the date of this Agreement” shall refer to “the date of
this Amendment.”

     6. Except as specifically modified hereby, the Credit Agreement is and remains unmodified and
in full force and effect and is hereby ratified and confirmed. All references in the Loan
Documents to the “Credit Agreement” henceforth shall be deemed to refer to the Credit Agreement as
amended by this Amendment.

     7. This Amendment may be executed in any number of counterparts, all of which taken together
shall constitute one agreement, and any of the parties hereto may execute this Amendment by signing
any such counterpart. This Amendment shall be construed in accordance with the internal laws (and
not the law of conflicts) of the State of New York, but giving effect to federal laws applicable to
national banks.

     8. This Amendment shall become effective when it has been executed by Borrower, Administrative
Agent, and the Required Lenders.

-2-

 

          IN WITNESS WHEREOF, the Borrower, the Required Lenders and the Administrative Agent have
executed this Amendment as of the date first above written.

	 	 	 	 	 
	 	DEVELOPERS DIVERSIFIED REALTY CORPORATION

 	 
	 	By:  	/s/ Joan U. Allgood
 	 
	 	 	Print Name: Joan U. Allgood 	 
	 	 	Title:  	Executive Vice President 	 
	 

	 	 	 	 	 
	 	DDR PR VENTURES LLC, S.E.

 	 
	 	By:  	/s/ Joan U. Allgood
 	 
	 	 	Print Name: Joan U. Allgood 	 
	 	 	Title:  	Executive Vice President 	 
	 

3300 Enterprise Parkway

Beachwood, Ohio 44122

Phone: 216/755-5775

Facsimile: 216/755-1775

Attention: Chief Financial Officer

with a copy to:

3300 Enterprise Parkway

Beachwood, Ohio 44122

Phone: 216/755-5650

Facsimile: 216/755-1560

Attention: General Counsel

S-1

 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A.,

Individually and as Administrative Agent

 	 
	 	By:  	/s/ Kimberly L. Turner
 	 
	 	 	Print Name: Kimberly L. Turner 	 
	 	 	Title:  	Executive Director 	 
	 

New York Administrative Office:

277 Park Avenue

Third Floor

New York, New York 10172

Phone: 212/622-8177

Facsimile: 646/534-0574

Attention: Kimberly Turner, Vice President

London Administrative Office:

125 London Wall

London EC2Y 5AJ

Attention of Agency Department

S-2

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A.,

Individually and as Syndication Agent

 	 
	 	By:  	/s/ Michael W. Edwards
 	 
	 	 	Print Name: Michael W. Edwards 	 
	 	 	Title:  	Senior Vice President 	 
	 

231 South LaSalle Street

Chicago, IL 60604

Phone: 312/828-5215

Facsimile: 312/974-4970

Attention: Cheryl Sneor

S-3

 

	 	 	 	 	 
	 	EUROHYPO AG, NEW YORK BRANCH

Individually and as Documentation Agent

 	 
	 	By:  	/s/ Mark A. Fisher
 	 
	 	 	Print Name: Mark A. Fisher 	 
	 	 	Title:  	Director 	 

	 	 	 	 	 
	 	and by:

 	 
	 	By:  	/s/ John Hayes
 	 
	 	 	Print Name: John Hayes 	 
	 	 	Title:  	Vice President 	 
	 

Eurohypo AG, New York Branch

1114 Avenue of the Americas

New York, NY 10021

Attention: Mary Chamberlain

With a copy to:

Head of Legal Department

Eurohypo AG, New York Branch

1114 Avenue of the Americas

29th Floor

New York, NY 10021

Phone: (212) 479-5700

Fax: (866) 267-7680

S-4

 

	 	 	 	 	 
	 	WACHOVIA BANK, National Association,

Individually and as Documentation Agent

 	 
	 	By:  	/s/ Cynthia A. Bean
 	 
	 	 	Print Name: Cynthia A. Bean 	 
	 	 	Title:  	Vice President 	 
	 

Mail Code NC-0172, 16th Floor

301 S. College Street

Charlotte, NC 28288

Phone: 704/383-7534

Facsimile: 704/383-6205

Attention: Cynthia A. Bean

S-5

 

WELLS FARGO BANK, N.A.,

Real Estate Finance Group,

Individually and as Documentation Agent

	 	 	 	 	 
	 	By:  	                                              /s/ Scott Solis
 	 
	 	 	Print Name: Scott Solis 	 
	 	 	Title:  	Vice President 	 
	 

123 North Wacker Drive

Suite 1900

Chicago, IL 60606

Phone: 312-269-4818

Facsimile: 312-782-0969

Attention: Mr. Scott Solis

S-6

 

	 	 	 	 	 
	 	LASALLE BANK NATIONAL ASSOCIATION

Individually and as Senior Managing Agent

 	 
	 	By:  	/s/ Robert Goeckel
 	 
	 	 	Print Name: Robert Goeckel 	 
	 	 	Title:  	FVP 	 
	 

135 South LaSalle Street

Suite 1225

Chicago, IL 60603

Phone: 312-904-4705

Facsimile: 312-904-6691

Attention: Mr. Robert Goeckel

S-7

 

	 	 	 	 	 
	 	US BANK N.A.,

Individually and as Senior Managing Agent

 	 
	 	By:  	/s/ Mark H. Oldfield
 	 
	 	 	Print Name: Mark H. Oldfield 	 
	 	 	Title:  	Vice President 	 
	 

1350 Euclid Avenue

Cleveland, OH 44115

Phone: 216-623-9299

Facsimile: 216-241-0164

Attention: Mr. Mark H. Oldfield

S-8

 

	 	 	 	 	 
	 	DEUTSCHE BANK AG, NEW YORK BRANCH

Individually and as Managing Agent

 	 
	 	By:  	/s/ Steven P. Lapham
 	 
	 	 	Print Name: Steven P. Lapham 	 
	 	 	Title:  	Managing Director 	 
	 

	 	 	 	 	 
	 	By:  	                                              /s/ Joanna Soliman
 	 
	 	 	Print Name: Joanna Soliman 	 
	 	 	Title:  	Assistant Vice President 	 
	 

200 Crescent Court

Suite 550

Dallas, Texas 75201

Phone: 214-740-7913

Facsimile: 214-740-7910

Attention: Gerry Dupont

[Signature Page to DDR Amended and Restated Credit Agreement dated as of March 30, 2007]

S-9

 

	 	 	 	 	 
	 	ING REAL ESTATE FINANCE (USA) LLC

Individually and as Managing Agent

 	 
	 	By:  	/s/ Christopher S. Godlewski
 	 
	 	 	Print Name: Christopher S. Godlewski 	 
	 	 	Title:  	Director 	 
	 

601 South Figueroa Street, Suite 3400

Los Angeles, CA 90017

Attention: Christopher S. Godlewski

S-10

 

	 	 	 	 	 
	 	MIZUHO CORPORATE BANK, LTD.

Individually and as Managing Agent

 	 
	 	By:  	 	 
	 	 	Print Name:  	 
	 	 	Title:  	 	 
	 
	 	1251 Avenue of the Americas

New York, NY 10020

Telephone: 212-282-3175

Facsimile: 212-282-4488/4489

Attention: Yasuo Imaizumi

 	 
	 	 	 

S-11

 

	 	 	 	 	 

	 	 	 	 	 
	 	MORGAN STANLEY BANK
 Individually and as Managing Agent

 	 
	 	By:  	/s/ Daniel Twenge
 	 
	 	 	Print Name: Daniel Twenge	 
	 	 	Title:  	Authorized Signatory 	 
	 
	 	1633 Broadway

25th Floor

New York, NY 10019

Phone: 212-537-1532 / 2484

Facsimile: 212-537-1867 / 1866

Attention: Daniel Twenge

 	 
	 	 	 
	 	 	 
	 	 	 

S-12

 

	 	 	 	 	 
	 	THE BANK NEW YORK

Individually and as Managing Agent

 	 
	 	By:  	 	 
	 	 	Print Name:  Rick Laudisi	 
	 	 	Title:  	Managing Director 	 
	 
	 	One Wall Street

21st Floor

New York, NY 10286

Phone: 212-635-7621

Facsimile: 212-809-9526

Attention: Rick Laudisi

 	 
	 	 	 
	 	 	 
	 	 	 

S-13

 

	 	 	 	 	 
	 	THE BANK OF NOVA SCOTIA

Individually and as Managing Agent

 	 
	 	By:  	/s/ Mel Mandelbaum
 	 
	 	 	Print Name: Mel Mandelbaum	  
	 	 	Title:  	Managing Director 	 
	 
	 	One Liberty Plaza, 25th Floor

New York, NY 10006

Phone: 212-225-5157

Facsimile: 212-225-5166

Attention: Mr. Mel Mandelbaum

 	 
	 	 	 
	 	 	 
	 	 	 

S-14

 

	 	 	 	 	 
	 	UBS LOAN FINANCE LLC

Individually and as Managing Agent

 	 
	 	By:  	/s/ Irja R. Otsa
 	 
	 	 	Print Name: Irja R. Otsa	 	 
	 	 	Title:  	Associate Director 	 
	 
	 	and by:

 	 
	 	By:  	                     /s/ Mary E. Evans
 	 
	 	 	Print Name: Mary E. Evans	 
	 	 	Title:  	Associate Director 	 
	 
	 	677 Washington Blvd.

Stamford, CT 06901

Phone: 203-719-0678

Facsimile: 203-719-3888

Attention: Iris Choi

 	 
	 	 	 
	 	 	 
	 	 	 

S-15

 

	 	 	 	 	 
	 	REGIONS BANK, successor by merger to
Amsouth Bank

Individually and as Co-Agent

 	 
	 	By:  	/s/ Lori A. Hatcher
 	 
	 	 	Print Name: Lori A. Hatcher 	  
	 	 	Title:  	Assistant Vice President 	 
	 
	 	1900 Fifth Avenue North

Region Center 15

Birmingham, AL 35203

Phone: 205-326-5465

Facsimile: 205-326-4075

Attention: Ms. Lori A. Hatcher

 	 
	 	 	 
	 	 	 
	 	 	 

S-16

 

	 	 	 	 	 
	 	KEYBANK NATIONAL ASSOCIATION

Individually and as Co-Agent

 	 
	 	By:  	/s/ Kevin P. Murray
 	 
	 	 	Print Name: Kevin P. Murray  	  
	 	 	Title:  	Vice President 	 
	 
	 	127 Public Square

8th Floor

Cleveland, OH 44114

Phone: 216-689-7547

Facsimile: 216-689-4997

Attention: Kevin P. Murray

 	 
	 	 	 
	 	 	 
	 	 	 

S-17

 

	 	 	 	 	 

	 	 	 	 	 
	 	PNC BANK, N.A.

Individually and as Co-Agent

 	 
	 	By:  	/s/ Michael E. Smith
 	 
	 	 	Print Name: Michael E. Smith 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	249 Fifth Avenue, Suite 19-2

Pittsburgh, PA 15222-2707

Phone: 412-768-9135

Facsimile: 412-762-6500

Attention: Michael E. Smith

 	 
	 	 	 
	 	 	 
	 	 	 

S-18

 

	 	 	 	 	 

	 	 	 	 	 
	 	SOVEREIGN BANK

Individually and as Co-Agent

 	 
	 	By:  	/s/ T. Gregory Donohue
 	 
	 	 	Print Name:  T. Gregory Donohue 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	75 State Street

Boston, MA 02109

Telephone: 617-757-5578

Facsimile: 617-757-5652

Attention: T. Gregory Donohue

 	 
	 	 	 
	 	 	 
	 	 	 

S-19

 

	 	 	 	 	 

	 	 	 	 	 
	 	SUNTRUST BANK

Individually and as Co-Agent

 	 
	 	By:  	/s/ Nancy B. Richards
 	 
	 	 	Print Name: Nancy B. Richards 	  
	 	 	Title:  	Senior Vice President 	 
	 
	 	 8330 Boone Boulevard

8th Floor

Vienna, VA 22182

Phone: 703-442-1557

Facsimile: 703-442-1570

Attention: Ms. Nancy B. Richards

 	 
	 	 	 
	 	 	 
	 	 	 

S-20

 

	 	 	 	 	 

	 	 	 	 	 
	 	CHARTER ONE BANK, N.A.

Individually and as Co-Agent

 	 
	 	By:  	 	 
	 	 	Print Name:  Michael Kauffman 	 
	 	 	Title:  	Vice President 	 
	 
	 	1215 Superior Ave — OHS 675

Cleveland, OH 44114

Phone: 216-277-0388

Facsimile: 216-277-4607

 	 
	 	 	 
	 	 	 
	 	 	 

S-21

 

	 	 	 	 	 

	 	 	 	 	 
	 	THE BANK OF TOKYO—MITSUBISHI UFJ, LTD.

 	 
	 	By:  	/s/ James T. Taylor
 	 
	 	 	Print Name: James T. Taylor 	 
	 	 	Title:  	Vice President 	 
	 
	 	1251 Avenue of the Americas

New York, NY 10020

Telephone: 212-782-4116

Facsimile: 212-782-6442

Attention Mr. James T. Taylor

 	 
	 	 	 
	 	 	 
	 	 	 
	 

S-22

 

	 	 	 	 	 
	 	MANUFACTURERS AND TRADERS TRUST COMPANY 

 	 
	 	By:  	/s/ Brian D. Beitz
 	 
	 	 	Print Name: Brian D. Beitz 	 
	 	 	Title:  	Vice President 	 
	 
	 	One Fountain Plaza

12th Floor

Buffalo, NY 14203-1495

Telephone: 716-848-7337

Facsimile: 716-848-7318

Attention Mr. Brian D. Beitz

 	 
	 	 	 
	 	 	 
	 	 	 

S-23

 

	 	 	 	 	 
	 	NOMURA FUNDING FACILITY CORPORATION LTD.

 	 
	 	By:  	 	 
	 	 	Print Name: Mark Brown	 
	 	 	Title:  	Authorized Agent 	 
	 
	 	International House

3 Harbourmaster Place 1FSC

Dublin 1, Ireland

Telephone: 3531 6360050

Facsimile: 3531 6700860

Attention: Michael Delaney

 	 
	 	 	 
	 	 	 
	 	 	 

S-24

 

	 	 	 	 	 
	 	THE HUNTINGTON NATIONAL BANK

 	 
	 	By:  	/s/ Ryan J. Terrano
 	 
	 	 	Print Name: Ryan J. Terrano 	 
	 	 	Title:  	Vice-President 	 
	 
	 	917 Euclid Avenue, CM17

Cleveland, OH 44115

Phone: 216-515-0683

Facsimile: 216-515-6821

Attention: Ryan J. Terrano

 	 
	 	 	 
	 	 	 
	 	 	 

S-25

 

	 	 	 	 	 
	 	BANCO POPULAR DE PUERTO RICO,

NEW YORK BRANCH

 	 
	 	By:  	 	 
	 	 	Print Name: Hector J. Gonzalez 	 
	 	 	Title:  	Vice President 	 
	 
	 	7 West 51st Street

New York, NY 10019

Telephone: 212-445-1988

Facsimile: 212-245-4677

Attention: Mr. Hector J. Gonzalez

 	 
	 	 	 
	 	 	 
	 	 	 

S-26

 

	 	 	 	 	 
	 	CITICORP NORTH AMERICA, INC.

 	 
	 	By:  	/s/ Malav Kakad
 	 
	 	 	Print Name: Malav Kakad 
	 	 	Title:  	Vice President 	 
	 
	 	390 Greenwich Street, Floor 1

New York, NY 10013

Phone: 212-723-4693

Facsimile: 646-291-3638

Attention: Mr. Malav Kakad

 	 
	 	 	 
	 	 	 
	 	 	 

S-27

 

	 	 	 	 	 
	 	COMERICA BANK

 	 
	 	By:  	/s/ James Graycheck
 	 
	 	 	Print Name: James Graycheck 
	 	 	Title:  	VP 	 
	 
	 	500 Woodward Avenue

MC 3256

Detroit, MI 48226

Telephone: 313-222-1276

Facsimile: 313-222-9295

Attention: Mr. James Graycheck

 	 
	 	 	 
	 	 	 
	 	 	 

S-28

 

	 	 	 	 	 
	 	LEHMAN COMMERCIAL PAPER INC.

 	 
	 	By:  	/s/ Janine M. Shugan
 	 
	 	 	Print Name: Janine M. Shugan 	 
	 	 	Title:  	Authorized Signatory 	 
	 
	 	745 Seventh Avenue

5th Floor

New York, NY 10019

Telephone: (212) 526-8625

Facsimile: (917) 552-0139

Attention: Janine Shugan

 	 
	 	 	 
	 	 	 
	 	 	 

S-29

 

	 	 	 	 	 
	 	SUMITOMO MITSUI BANKING CORPORATION

 	 
	 	By:  	/s/ David A. Buck
 	 
	 	 	Print Name: David A. Buck 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	277 Park Avenue

New York, NY 10172

Phone: 212-224-4178

Facsimile: 212-224-4887

Attention: Mr. Charles J. Sullivan

 	 
	 	 	 
	 	 	 
	 	 	 

S-30

 

	 	 	 	 	 
	 	THE NORTHERN TRUST COMPANY 	 
	 
	 	By:  	                                                /s/ Robert Wiarda
 	 
	 	 	Print Name: Robert Wiarda 	 
	 	 	Title:  	Vice President 	 
	 
	 	50 South LaSalle Street, 2nd Floor

Chicago, IL 60675

Phone: 312-444-3380

Facsimile: 312-444-7028

Attention: Mr. Robert Wiarda

 	 
	 	 	 
	 	 	 
	 	 	 

S-31

 

	 	 	 	 	 
	 	COMPASS BANK

 	 
	 	By:  	/s/ Robert H. Shore
 	 
	 	 	Print Name: Robert H. Shore 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	8080 N. Central Expressway

Suite 370

Dallas, TX 75206

Phone: 214-706-8088

Facsimile: 214-890-8668

Attention: Robert H. Shore

 	 
	 	 	 
	 	 	 
	 	 	 

S-32

 

	 	 	 	 	 
	 	FIRST TENNESSEE BANK NATIONAL ASSOCIATION

 	 
	 	By:  	/s/ Greg Cullum
 	 
	 	 	Print Name: Greg Cullum 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	701 Market Street

Chattanooga, TN 37402

Phone: 423-757-4272

Facsimile: 423-757-4040

Attention: Greg Cullum

 	 
	 	 	 
	 	 	 
	 	 	 
	 

S-33EX-10(O)(1)

 

Exhibit 10-O(1)

DONGFENG MOTOR CO., LTD.

DONGFENG (SHIYAN) INDUSTRIAL COMPANY

DONGFENG MOTOR CORPORATION

and

DANA MAURITIUS LIMITED

 

PARTIAL CLOSING AGREEMENT

 

 

 

THIS PARTIAL CLOSING AGREEMENT is made on March 14th, 2007 (this Agreement).

Between

	(1)	 	DONGFENG MOTOR CO., LTD., a Sino-Japanese equity joint venture with limited liability duly
established and validly existing under the laws the People’s Republic of China whose
registered address is at 84 Baiye Road, Wuhan Economic Development Zone, Wuhan, Hubei
Province, People’s Republic of China (DFL). The legal representative of DFL is Xu Ping, a
national of the PRC, who holds the position of chairman of the board.
	 
	(2)	 	DONGFENG (SHIYAN) INDUSTRIAL COMPANY, a company with limited liability duly established and
validly existing under the laws the People’s Republic of China whose registered address is at
No. 66 Gongyuan Road, Shiyan, Hubei Province, People’s Republic of China (Dongfeng Industry).
The legal representative of Dongfeng Industry is Li Zhenhua, a national of the PRC, who holds
the position of chairman of the board.
	 
	(3)	 	DONGFENG MOTOR CORPORATION, a state-owned enterprise with limited liability duly established
and validly existing under the laws the People’s Republic of China whose registered address is
at No. 1 Checheng Road, Shiyan, Hubei Province, People’s Republic of China (DFM). The legal
representative of DFM is Xu Ping, a national of the PRC, who holds the position of general
manager.
	 
	(4)	 	DANA MAURITIUS LIMITED, a company with limited liability duly established and validly
existing under the laws of the Republic of Mauritius whose principal place of business is at
Level 6, One Cathedral Square, Pope Hennessy Street, Port Louis, Mauritius (Dana). The legal
representative of Dana is Phillip A. Rotman II, a national of the USA, who holds the position
of Director.

For the purpose of this Agreement, each of DFL, Dongfeng Industry, DFM and Dana is referred to as a
Party, and collectively referred to as the Parties.

Whereas

	(A)	 	Dongfeng Dana Axle Co., Ltd. (Business License Registration Number 4206001330066) is a joint
venture company with limited liability duly established and validly existing under the laws of
the People’s Republic of China whose registered address is at 10th Floor, Torch
Building, Hi-Tech Industry Development Zone, Xiangfan, Hubei Province, PRC (the Company).
	 
	(B)	 	DFL, Dongfeng Industry, DFM and Dana entered into a Sale and Purchase Agreement (the SPA) on
March 10, 2005. It was contemplated under the SPA that Dana would purchase the entire equity
interests in the Company held by DFM and Dongfeng Industry respectively and an additional
twenty nine point two three percent (29.23%) equity interest in the Company held by DFL with
an aggregate percentage of interest in the Company to be purchased by Dana totalling fifty
percent (50%).

1

 

	(C)	 	DFL and Dana entered into a Joint Venture Contract (the Contract) on March 10, 2005. It was
contemplated under the Contract that, upon the completion of the sale and purchase by Dana of
the fifty percent (50%) equity interest in the Company pursuant to the SPA, the Company would
be converted into a Sino-foreign joint venture with DFL and Dana each holding a fifty percent
(50%) equity interest therein.
	 
	(D)	 	Dana Corporation filed for U.S. bankruptcy protection on March 3, 2006.
	 
	(E)	 	Upon friendly consultations, the Parties contemplate that, instead of completing the purchase
by Dana of the entire fifty percent (50%) equity interest in the Company from DFL, Dongfeng
Industry and DFM, the purchase by Dana of a four percent (4%) equity interest in the Company
held by DFL for RMB 38,800,000 would be completed as soon as practicable and that Dana would
purchase an additional forty six percent (46%) equity interest in the Company from DFL,
Dongfeng Industry and DFM after April 1, 2008 but within three years starting from the date on
which the Company’s new business license has been issued.
	 
	(F)	 	It is contemplate that, upon the completion of the sale and purchase by Dana of the four
percent (4%) equity interest in the Company pursuant to the preceding paragraph, the Company
would be converted into a Sino-foreign joint venture with DFL, Dongfeng Industry, DFM and Dana
each holding a seventy five point two three percent (75.23%), ten point nine six percent
(10.96%), nine point eight one percent (9.81%) and four percent (4%) equity interest in the
Company respectively.
	 
	(G)	 	It is contemplated that DFL and Dana shall complete the transfer of the four percent (4%)
equity interest in the Company held by DFL based on the terms and conditions set out in this
Agreement.

Now Therefore, it is agreed as follows:

	1.	 	Definitions and Interpretation
	 
	1.1	 	Unless the context otherwise requires, the defined words and expressions used in this
Agreement shall have the same meanings as those used in the SPA.
	 
	1.2	 	Headings are inserted for convenience only and shall not affect the construction of this
Agreement.
	 
	2.	 	Partial Transfer and Consideration
	 
	2.1	 	Notwithstanding the provisions stated in the SPA, the Parties agree that DFL will transfer
and Dana will acquire four percent (4%) equity interest in the Company (the Transferred
Equity) free from Encumbrance (as defined in the SPA) and together with all rights attached
thereto pursuant to the terms and conditions of this Agreement. The Parties agree that such
transfer shall be completed as soon as possible instead of having Dana acquiring the entire
fifty percent (50%) equity interest of the Company from DFL, Dongfeng Industry and DFM
respectively.

2

 

	2.2	 	Each of Dongfeng Industry and DFM hereby consents to the transfer of the Transferred Equity
and provides DFL and Dana with their respective waiver for the exercise of their first right
of refusal with regard to the Transferred Equity.
	 
	2.3	 	For the avoidance of doubt, completion of the transfer of the Transferred Equity pursuant to
this Agreement shall not be construed as completing the transfer of the Transferred Interests
as set out under the SPA.
	 
	2.4	 	The consideration payable for the Transferred Equity shall be RMB38,800,000. Such payment
shall be made available to DFL within ten (10) Business Days after the date that the Approval
Authority has approved the transfer of the four percent (4%) equity interest in the Company
with the letter of approval and the approval certificate indicating DFL, Dongfeng Industry,
DFM and Dana’s respective shareholding as seventy five point two three percent (75.23%), ten
point nine six percent (10.96%), nine point eight one percent (9.81%) and four percent (4%),
and otherwise containing terms generally consistent with the Parties’ intention as reflected
in this Agreement and the Contract as amended, and that SAIC has issued a new business license
to the Company on this basis (the date of such payment shall hereinafter be referred to as the
Completion Date).
	 
	3.	 	Waiver of the Conditions Precedent
	 
	3.1	 	The Parties hereby agree to waive each and every condition precedent listed under Clause 3
and Schedule 3.1 of the SPA, except to the extent that any such condition precedent has
already been fulfilled on or prior to the transfer of the Transferred Equity as contemplated
herein by the Parties in writing. Notwithstanding the above, the Parties acknowledge that Dana
is currently conducting certain product testing, Condition 3.1(i) of Schedule 3.1 related to
products is not deemed to be fulfilled until such testing proves negative, at which time the
aforementioned condition is deemed to be waived.
	 
	3.2	 	Notwithstanding the above, if the equity transfer contemplated hereunder has not been
approved and become effective on or before June 30, 2007 or such later date as the Parties
mutually agree in writing from time to time, the SPA, the Contract and this Agreement shall
automatically terminate in which case none of the Parties shall have any claim of any nature
whatsoever against any other Party(ies) under the SPA, the Contract and this Agreement.
	 
	3.3	 	Clause 3.4 of the SPA shall expire.
	 
	4.	 	Completion
	 
	4.1	 	The Parties agree that completion of the Transferred Equity shall take place as of the
Completion Date (the Completion).
	 
	4.2	 	On the Completion Date, each Party waives, releases and otherwise abandons absolutely and
irrevocably all claims, whether direct or indirect, foreseen or unforeseen, contingent or
actual, present or future, of any nature whatsoever and however arising which it may have
against any other Party and any of its Affiliates (including their successors and assignees),
arising out of or connected in any way with the transaction contemplated by the SPA.

3

 

	4.3	 	The following list of documents shall be delivered to Dana within five working days after
Completion:

	 	(i)	 	the approval reply (replies) and the approval certificate(s) issued by the
Approval Authority approving (i) the acquisition of the Transferred Equity by Dana
pursuant to this Agreement, (ii) the Amendment to the Contract, (iii) the amendment to
the articles of association, and (iv) the establishment of the Company as a
Sino-foreign equity joint venture whereby DFL holds seventy five point two three
percent (75.23%) of the registered capital of the Company, Dongfeng Industry holds ten
point nine six percent (10.96%) of the registered capital of the Company, DFM holds
nine point eight one percent (9.81%) of the registered capital of the Company and Dana
holds four percent (4%) of the registered capital of the Company;
	 
	 	(ii)	 	a new business license for the Company issued by SAIC or its local branches
pursuant to registration of (i) above;
	 
	 	(iii)	 	evidence that two (2) Dana appointees, four (4) DFL appointees, one (1)
Dongfeng Industry appointee and one (1) DFM appointee have been registered with SAIC
or its local branch as constituting the entire board of directors of the Company;
	 
	 	(iv)	 	a letter of appointment duly executed by DFL, Dongfeng Industry and DFM in
the agreed form appointing six (6) individuals to the board of directors of the
Company;
	 
	 	(v)	 	powers of attorney of DFL, Dongfeng Industry and DFM respectively,
authorising the execution of this Agreement and other relevant agreements.

	5.	 	Post-Completion Undertaking
	 
	5.1	 	DFL agrees and undertakes with Dana that as soon as practicable and in any event within ten
(10) Business Days after Dana makes full payment of the Transferred Equity to DFL, DFL shall
cause the chairman of the board of directors of the Company to promptly issue an investment
certificate to Dana confirming its four percent (4%) equity interest in the Company, provided
that the Company has obtained the corresponding verification report from its accountant.
	 
	5.2	 	Upon Completion, DFL agrees to comply with the restrictions as set out under Clause 7 of the
SPA.
	 
	6.	 	Warranties, Undertakings and Indemnities
	 
	6.1	 	DFL undertakes that the representations and warranties made by it pursuant to Clause 8 and
Schedule 8.1 of the SPA is hereby repeated and that each of such representation and warranty
is true and accurate as of the date of this Agreement.
	 
	6.2	 	The representations and warranties made by DFL shall be deemed to be repeated immediately
before Completion with reference to the facts then existing and Completion of this Agreement
shall constitute a warranty by DFL

4

 

**** indicates where a confidential portion has been omitted

and filed separately with the Securities and Exchange Commission

	 	 	that no event has occurred between the date of this Agreement and Completion which
would cause any of the representations and warranties to be untrue or inaccurate in any
material respect.
	 
	6.3	 	Dana undertakes that the representations and warranties made by it pursuant to Clause 8 and
Schedule 8.1 of the SPA is hereby repeated and that each of such representation and warranty
is true and accurate as of the date of this Agreement.
	 
	6.4	 	The representations and warranties made by Dana shall be deemed to be repeated immediately
before Completion with reference to the facts then existing and Completion of this Agreement
shall constitute a warranty by Dana that no event has occurred between the date of this
Agreement and Completion which would cause any of the representations and warranties to be
untrue or inaccurate in any material respect.
	 
	6.5	 	DFL and Dana agree that certain parts of Clause 10.2 and Clause 12 of the SPA shall be
revised as follows:

	 	(A)	 	the aggregate amount of the Parties’ respective liability to each other under
this Agreement during the three years, which starts from the date on which the
Company’s new business license has been issued, for all claims shall not exceed **** .
Clause 10.2 and Clause 12.5 of the SPA shall expire;
	 
	 	(B)	 	DFL, Dongfeng Industry and DFM shall not be liable for any claim unless the
aggregate amount of the liability of DFL, Dongfeng Industry and DFM for all claims
exceeds **** , in which case DFL, Dongfeng Industry and DFM shall be liable for the
remaining amount in respect of all claims in excess of **** ; provided that the
provisions of this Clause 6.5 shall not apply in respect of any claim in respect of a
breach of any of the Tax Warranties or Tax Covenant as described in the SPA;
	 
	 	(C)	 	DFL, Dongfeng Industry and DFM shall not be liable for any claim unless they
receive from Dana written notice containing reasonable details of the claim including
Dana’s estimate (on a without prejudice basis) of the amount of such claim on or
before March 31, 2008, after which all the representations, warranties, undertakings
and indemnities of the Parties contained in the SPA and the representations,
warranties, undertakings and indemnities contained in the Contract on the basis of the
SPA shall expire and DFL, Dongfeng Industry and DFM shall not be liable for any claim
arising thereunder afterwards.
	 
	 	(D)	 	The Parties confirm that the SPA shall expire upon March 31, 2008.

	7.	 	Right to Terminate
	 
	7.1	 	DFL and Dana may, at any time prior to the Completion Date, terminate this Agreement pursuant
to the terms set out in Clause 13 of the SPA.
	 
	7.2	 	After Completion, Clause 13 of the SPA shall expire.

5

 

	8.	 	Entire Agreement
	 
	 	 	This Agreement, and the SPA as altered hereby (subject to Clause 6.5(c) and 6.5(D)), set
out the entire agreement and understanding between the Parties in respect of the sale and
purchase of the Transferred Equity. This Agreement supersedes all prior agreements,
understandings or arrangements (whether oral or written) relating to the sale and purchase
of the Transferred Equity. It is agreed that:

	 	(A)	 	no Party has entered into this Agreement or any other document referred to in
this Agreement in reliance upon any statement, representation, warranty or undertaking
of any other Party other than those expressly set out or referred to in this Agreement
or such other document;
	 
	 	(B)	 	save for any such liability as a Party has under or in respect of any breach
of this Agreement or any other agreement or document referred to in this Agreement, no
Party shall owe any duty of care, nor have any liability in tort or otherwise, to any
other Party or any other person in respect of, arising out of, or in any way relating
to the transaction contemplated by this Agreement; and
	 
	 	(C)	 	this Clause shall not exclude any liability for, or remedy in respect of,
fraudulent misrepresentation.

	9.	 	Variation
	 
	 	 	No variation of this Agreement and the SPA as altered hereby shall be valid unless it is in
writing and signed by or on behalf of each of the Parties to it. The expression “variation”
shall include any variation, supplement, deletion or replacement however effected.
	 
	10.	 	Assignment
	 
	10.1	 	None of the Parties hereunder shall nor shall it purport to assign, transfer, charge or
otherwise deal with all or any of its rights under this Agreement and under the SPA as altered
hereby, nor grant, declare, create or dispose of any right or interest in it without the prior
written consent of the other Parties.
	 
	10.2	 	Any purported assignment in contravention of this Clause 10 shall be void.
	 
	11.	 	Announcements 
	 
	11.1	 	Each Party hereby undertakes that it shall not and shall procure that each of its Affiliates,
directors, officers and employees shall not at any time make any public announcement or
circular or disclosure in connection with the existence or subject matter of this Agreement
without the prior written approval of the other Parties hereto (such approval not to be
unreasonably withheld or delayed); to the extent any public announcement, circular or
disclosure in connection with the existence or subject matter of this Agreement is required to
be made by any of the Parties pursuant to any applicable law or stock exchange requirements,
the Parties shall, to the maximum extent permitted under applicable laws and stock exchange
requirements, fully consult each other to agree on the scope and substance of the required
disclosure.

6

 

	12.	 	Confidentiality
	 
	12.1	 	DFL undertakes to Dana that save as required by applicable law or stock exchange requirements
each of them shall not and shall procure that each of its directors, officers and employees
shall not at any time, save with the prior consent in writing of Dana, divulge or communicate
to any person other than to directors, officers, employees or professional advisers of Dana
any secret or confidential information concerning the Company or any customer or client or
business of the Company.
	 
	12.2	 	Dana hereby undertakes to DFL that save as required by applicable law or stock exchange
requirements it and its Affiliates shall not and shall procure that each of its directors,
officers and employees shall not at any time save with the prior consent in writing of DFL
divulge or communicate to any person other than to its directors, officers, employees or
professional advisers any secret or confidential information concerning the Company or any
customer or client or business of the Company.
	 
	12.3	 	The restrictions contained in Clauses 12.1 and 12.2 above shall cease to apply in the event
that such information comes into the public domain (other than through any unauthorised
disclosure by DFL or Dana) or disclosure of such information is required by law or any court
or tribunal. If disclosure of such information is required by law or any court or tribunal,
then any of the Parties so required to disclose such information shall promptly inform and
consult with all the other Parties before taking any actions to make any disclosures as
required.
	 
	13.	 	Severability
	 
	13.1	 	If any provision of this Agreement is held to be invalid or unenforceable, then such
provision shall (so far as it is invalid or unenforceable) be given no effect and shall be
deemed not to be included in this Agreement but without invalidating any of the remaining
provisions of this Agreement. The Parties shall then use all reasonable endeavours to replace
the invalid or unenforceable provisions by a valid and enforceable substitute provision the
effect of which is as close as possible to the intended effect of the invalid or unenforceable
provision.
	 
	14.	 	Counterparts
	 
	14.1	 	This Agreement may be executed in any number of counterparts and by the Parties to it on
separate counterparts, each of which is an original but all of which together constitute one
and the same instrument.
	 
	15.	 	Waivers
	 
	15.1	 	No failure or delay by any Party in exercising any right or remedy provided by law under or
pursuant to this Agreement shall impair such right or remedy or operate or be construed as a
waiver or variation of it or preclude its exercise at any subsequent time and no single or
partial exercise of any such right or remedy shall preclude any other or further exercise of
it or the exercise of any other right or remedy.

7

 

	15.2	 	The rights and remedies of any Party under or pursuant to this Agreement are cumulative, may
be exercised as often as such Party considers appropriate and are in addition to its rights
and remedies under general law.
	 
	16.	 	Further Assurance
	 
	16.1	 	Each Party agrees to perform (or procure the performance, by its duly authorised
representatives) all further acts and things, and execute and deliver (or procure the
execution and delivery of) such further documents, as may be required by law or as any other
Party may reasonably require, whether on or after Completion, to implement and/or give effect
to this Agreement and the transaction contemplated hereunder and for the purpose of vesting in
such Party the full benefit of the assets, rights and benefits to be transferred to or
conferred on such Party under this Agreement.
	 
	17.	 	Notices
	 
	17.1	 	Any notice or other communication to be given by one Party to the other Parties under, or in
connection with, this Agreement shall be in writing and signed by or on behalf of the Party
giving it. It shall be served by sending it by pre-paid recorded express courier delivery to
the address set out in Clause 30.6(b) of the amended Contract and marked for the attention of
the relevant Party set out in Clause 30.6(b) of the amended Contract (or as otherwise notified
from time to time). Any notice so served by express courier shall be deemed to have been duly
given at 10:00am on the seven (7th) Business Day following the date of posting.
	 
	17.2	 	References to time in this Clause are to local time in the country of the addressee.
	 
	17.3	 	A Party may notify the other Parties to this Agreement of a change to its name, relevant
addressee, or address for the purposes of this Clause 17, provided that, such notice shall
only be effective on:

	 	(A)	 	the date specified in the notice as the date on which the change is to take
place; or
	 
	 	(B)	 	if no date is specified or the date specified is less than five (5) Business
Days after the date on which notice is given, the date following five (5) Business
Days after notice of any change has been given.

	18.	 	Execution and Effectiveness
	 
	18.1	 	This Agreement shall be executed by the duly authorised representatives of the Parties hereto
and shall come into force after signing.
	 
	18.2	 	Once this Agreement has been executed it shall then be submitted for approval by DFL to
Department of Commerce, Hubei Province (the Approval Authority) along with the SPA, the
Amendment to the Contract and the amendment to the articles of association.

8

 

	19.	 	Governing law
	 
	19.1	 	The establishment, effectiveness, interpretation, amendment, performance and termination of
this Agreement shall be governed by and construed in accordance with the laws of the PRC. To
the extent there is no applicable PRC law, reference shall be made to international practices.
	 
	20.	 	Settlement of disputes
	 
	20.1	 	The Parties shall try to resolve any dispute, controversy or claim arising out of or in
connection with this Agreement through friendly consultations between the Parties. But, if no
settlement is reached within twenty (20) Business Days from the date one Party notifies the
other Parties in writing of its intention to submit the dispute, controversy or claim to
arbitration in accordance with this Clause, then any such dispute, controversy or claim
arising out of or relating to this Agreement, or the breach, termination or invalidity
thereof, shall be settled by arbitration by the Hong Kong International Arbitration Center
(HKIAC) in accordance with the UNCITRAL Arbitration Rules as at present in force and as may be
amended by the rest of this Clause. The arbitration will be administered by HKIAC in
accordance with HKIAC Procedures for Arbitration in force at the date of this Agreement
including additions to the UNCITRAL Arbitration Rules as are therein contained.
	 
	20.2	 	The place of arbitration shall be in Hong Kong at the Hong Kong International Arbitration
Center. The arbitration proceedings will be conducted in English and Chinese. The arbitration
panel will consist of three (3) members. Dana shall select one (1) arbitrator, and DFL shall
select one (1) arbitrator. The presiding arbitrator shall be selected by agreement between the
arbitrators selected by the Parties or, failing agreement within ten (10) Business Days of the
appointment of the two (2) Party-nominated arbitrators, by the Chairperson of the HKIAC. The
presiding arbitrator shall not be a national of the PRC or the United States of America. The
arbitration award shall be final and binding on the Parties, and the Parties agree to be bound
thereby and to act accordingly. The costs of arbitration and the costs of enforcing the
arbitration award (including witness expenses and reasonable attorneys’ fees) shall be borne
by the losing Party(ies), unless otherwise determined by the arbitration award.
	 
	20.3	 	In any arbitration proceeding, any legal proceeding to enforce any arbitration award and in
any legal action between the Parties pursuant to or relating to this Agreement, each Party
expressly waives any defence based on the fact or allegation that it is an agency or
instrumentality of a sovereign state.
	 
	20.4	 	Each Party shall continue to exercise its respective rights, and fulfill its obligations
under this Agreement while a dispute is being resolved through arbitration, except for the
matters in dispute.
	 
	20.5	 	Any award of the arbitrators may be enforced by any court having jurisdiction over the Party
against which the award has been rendered, or wherever assets of that Party are located, and
shall be enforceable in accordance with the New York Convention on the Recognition and
Enforcement of Foreign Arbitral Awards (1958).

9

 

	21.	 	Language
	 
	 	 	This Agreement is written in a Chinese version and in an English version in eight (8)
originals each. Both language versions shall be equally authentic. Each of DFL, Dongfeng
Industry, DFM, the Company and Dana shall each keep one (1) original in each language. The
remaining originals shall be submitted, as necessary, to the governmental authorities.
	 
	22.	 	Operational Issues — Pre-Completion Profits
	 
	22.1	 	All of the dividend payable and the net profits accrued during the time period from January
1, 2004 to the Completion Date as reflected in the Company audited financial statements as
audited by the Company’s regular auditor will be paid by the Company to DFL, Dongfeng Industry
and DFM within ten (10) days from the Completion Date in accordance with their equity ratios
immediately prior to the Completion Date.
	 
	22.2	 	Within ten (10) Business Days after the receipt by DFL of its share of the aforesaid dividend
payable and net profits, DFL, will, through Dongfeng Motor Finance Company, make an amount up
to the entire amount of its share of such dividend payable and net profits available to the
Company as an interest-free loan in the event the Company encounters cash-flow difficulties
and agrees to participate in DFL’s cash pooling arrangement through Dongfeng Motor Finance
Company as approved by the board of directors of the Company. Such interest-free loan shall
be initially granted by DFL to the Company for a period of one year. If the Company continues
to encounter cash-flow difficulties DFL agrees to extend such loan for another year on an
interest-free basis, provided that the total duration of the interest-free loan does not
exceed three (3) years.

[The remainder of this page has been intentionally left blank]

10

 

IN WITNESS WHEREOF, the Parties have executed this Agreement on the date appearing at the head
hereof.

Signed for and on behalf of

	 	 	 
	DONGFENG MOTOR CO., LTD.
	 	 
	 
	/s/ Ouyang Jie
	 	 
	 

	 	 
	Name: OUYANG Jie
	 	 
	Title: Vice President
	 	 

Signed for and on behalf of

	 	 	 
	DONGFENG (SHIYAN) INDUSTRIAL COMPANY
	 	 
	 
	 	 
	/s/ Chen Yaodong
	 	 
	 

	 	 
	Name: CHEN Yaodong
	 	 
	Title: Executive Deputy General Manager
	 	 

Signed for and on behalf of

	 	 	 
	DONGFENG MOTOR CORPORATION
	 	 
	 
	 	 
	/s/ Ouyang Jie
	 	 
	 

	 	 
	Name:
	 	 
	Title:
	 	 

11

 

Signed for and on behalf of

	 	 	 
	DANA MAURITIUS LIMITED
	 	 
	 
	 	 
	/s/ Frank Sheehan
	 	 
	 

	 	 
	Name: Frank SHEEHAN
	 	 
	Title: Authorized Representative
	 	 

12

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