Document:

Exhibit 10.9

 

Fiscal 2019 Form

 

AAR CORP.

 

Director Restricted Stock Agreement
 (“Agreement”)

 

Subject to the provisions of the AAR CORP. 2013 Stock Plan (“Plan”), the terms of which are hereby incorporated by reference herein, and in consideration of the agreements of the Grantee herein provided, AAR CORP. a Delaware corporation (“Company”), hereby grants to Grantee a restricted stock award (“Award”), effective June 1, 2018 (“Date of Award”), of 2,648 shares of common stock (“Common Stock”) of the Company, $1.00 par value (“Award Shares”), subject to the forfeiture and nontransferability provisions hereof and the other terms and conditions set forth herein:

 

1.            Acceptance By Grantee.  The Award is conditioned upon the acceptance by the Grantee of the terms and conditions of the Award as set forth in this Agreement. The Grantee must confirm acceptance of the Award and this Agreement on Morgan Stanley’s web site (www.stockplanconnect.com).  The Company will accept the Award on the Grantee’s behalf.  By acceptance of this Agreement, you irrevocably agree to be bound by the terms hereof.

 

2.            Restrictions.  The Grantee represents that he is accepting the Award Shares without a view toward distribution of said Award Shares and that he will not sell, assign, transfer, pledge or otherwise encumber the Award Shares during the period commencing on the Date of Award and ending on the date the restrictions applicable to such Award Shares are released pursuant to paragraph 3 of this Agreement (“Restrictive Period”).

 

3.            Release of Restrictions.  Subject to the provisions of paragraph 4 below, the restrictions described in paragraph 2 above shall be released with respect to the Award Shares on the first anniversary of the Date of Award, except as follows:

 

(a)          In General.  If the Grantee’s membership on the Company’s Board of Directors terminates prior to the last day of the Restrictive Period for any reason other than Retirement, death or Disability, the Grantee shall forfeit to the Company all Award Shares not previously released from the restrictions of paragraph 2 hereof.

 

(b)          Retirement.  If the Grantee’s membership on the Company’s Board of Directors terminates by reason of Retirement prior to the last day of the Restrictive Period, the Restrictive Period shall terminate in accordance with the restriction release schedule set forth above in the first clause of this paragraph 3 as to the Award Shares not previously released; provided, however, that if the Grantee dies after Retirement and prior to the last day of the Restrictive Period, the Grantee’s date of death will be treated as the date on which his membership on the Company’s Board of Directors has terminated, and the provisions of paragraph 3(c) shall apply in determining the release of restrictions as to the Award Shares not previously released. For purposes of this Agreement, “Retirement” means the Grantee’s voluntary termination of membership on the Company’s Board of Directors at or after attaining age 65 with five or more consecutive years of service as a non-employee member of the Company’s Board of Directors.

 

 

(c)          Death or Disability.  If the Grantee’s membership on the Company’s Board of Directors terminates by reason of death or Disability, the Restrictive Period shall terminate on the date of such death or Disability. For this purpose, “Disability” means the inability of the Grantee to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than 12 months.

 

(d)          Restrictive Covenant.  If at any time prior to the Award Shares’ release from the restrictions hereunder, the Grantee, without the Company’s express written consent, directly or indirectly, alone or as a member of a partnership, group, or joint venture or as an employee, officer, director, or greater than 1% stockholder of any corporation, or in any capacity engages in any activity which is competitive with any of the businesses conducted by the Company or its affiliated companies at any time during the Grantee’s membership on the Company’s Board of Directors, the Grantee shall forfeit to the Company all Award Shares not previously released from the restrictions of paragraph 2 hereof.

 

4.            Change in Control.  In the event of a Change in Control of the Company, and the Grantee’s membership on the Company’s Board of Directors ends on or after the Change in Control but prior to the last day of the Restrictive Period, then notwithstanding any conditions or restrictions contained in this Agreement, the Restrictive Period shall terminate as to all Award Shares not previously released.

 

5.            Change in Outstanding Shares.  In the event of any change in the outstanding shares of Common Stock occurring through stock splits, stock dividends, stock consolidations, spin-offs, other distributions of assets to stockholders or assumption or conversion of outstanding Awards due to an acquisition after the Date of Award, the Award Shares shall be treated in the same manner in any such transaction as other shares of Common Stock. Any additional shares of Common Stock received by the Grantee with respect to the Award Shares in any such transaction shall be subject to the same restrictions as are then applicable to those Award Shares for which the additional shares have been issued.

 

6.            Rights of Grantee.  As the holder of the Award Shares, the Grantee is entitled to all of the rights of a stockholder of AAR CORP. with respect to any of the Award Shares, when issued, including, but not limited to, the right to receive dividends declared and payable since the Date of Award.

 

7.            Shares.  Award Shares shall be held by the Company in electronic book entry form on the records of the Company’s Transfer Agent for the account of the Grantee until such restrictions are released pursuant to the terms hereof, or such Award Shares are forfeited to the Company as provided by the Plan or this Agreement. The Grantee shall be entitled to the Award Shares as to which such restrictions have been released, and the Company agrees to issue such Award Shares in electronic form on the records of the Transfer Agent. Upon request by the Grantee, the Transfer Agent will transfer such released Award Shares in electronic form to the Grantee’s broker for the Grantee’s account or issue certificates in the name of the Grantee representing the Award Shares for which restrictions have been released.

 

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8.            Legend.  The Company may, in its discretion, place a legend or legends on any electronic shares or certificates representing Award Shares issued to the Grantee that the Company believes is required to comply with any law or regulation.

 

9.            Committee Powers.  The Committee may subject the Award Shares to such conditions, limitations or restrictions as the Committee determines to be necessary or desirable to comply with any law or regulation or with the requirements of any securities exchange. At any time during the Restrictive Period, the Committee may reduce or terminate the Restrictive Period otherwise applicable to all or any portion of the Award Shares.

 

10.         Postponement of Distribution.  Notwithstanding anything herein to the contrary, the distribution of any portion of the Award Shares shall be subject to action by the Board taken at any time in its sole discretion (i) to effect, amend or maintain any necessary registration of the Plan or the Award Shares distributable in satisfaction of this Award under the Securities Act of 1933, as amended, or the securities laws of any applicable jurisdiction, (ii) to permit any action to be taken in order to (a) list such Award Shares on a stock exchange if the Common Stock is then listed on such exchange or (b) comply with restrictions or regulations incident to the maintenance of a public market for its Shares of Common Stock, including any rules or regulations of any stock exchange on which the Award Shares are listed, or (iii) to determine that such Award Shares and the Plan are exempt from such registration or that no action of the kind referred to in (ii)(b) above needs to be taken; and the Company shall not be obligated by virtue of any terms and conditions of this Award or any provision of this Agreement or the Plan to issue or release the Award Shares in violation of the Securities Act of 1933 or the law of any government having jurisdiction thereof. Any such postponement shall not shorten the term of any restriction attached to the Award Shares and neither the Company nor its directors or officers shall have any obligation or liability to the Grantee or to any other person as to which issuance under the Award Shares was delayed.

 

11.         Miscellaneous.

 

(a)          The Award and this Agreement shall be construed, administered and governed in all respects under and by the laws of the State of Illinois.

 

(b)          Capitalized terms used herein and not defined herein will have the meanings set forth in the Plan.

 

(c)          This Agreement has been examined by the parties hereto, and accordingly the rule of construction that ambiguities be construed against a party which causes a document to be drafted shall have no application in the construction or interpretation hereof. If any part of this Agreement is held invalid for any reason, the remainder hereof shall nevertheless remain in full force and effect.

 

(d)          This Agreement constitutes the entire agreement between the parties concerning the subject matter hereof and any prior understanding or representation of any kind antedating this Agreement concerning such subject matter shall not be binding upon either party except to the extent incorporated herein. No consent, waiver, modification or amendment hereof, or additional obligation assumed by either party in connection herewith, shall be binding unless 

 

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evidenced by a writing signed by both parties and referring specifically hereto. No consent, waiver,  modification or amendment with respect hereto shall be construed as applicable to any past or future events other than the one in respect of which it was specifically made.

 

(e)          This Agreement shall be construed consistent with the provisions of the Plan and in the event of any conflict between the terms of this Agreement and the terms of the Plan, the terms of the Plan shall control and any terms of this Agreement which conflict with Plan terms shall be void.

 

Questions concerning the provisions of this Agreement should be directed to the Company’s Corporate Secretary: 630/227-2050; fax 630/227-2059.

 

4First Amendment to Bridge Credit Agreement, dated as of July 11, 2018

 Exhibit 10.1 

EXECUTION VERSION 
 FIRST
AMENDMENT TO 
 BRIDGE CREDIT AGREEMENT 

This FIRST AMENDMENT TO BRIDGE CREDIT AGREEMENT, dated as of July 11, 2018 (this “Amendment”), among 21st Century Fox
America, Inc., a Delaware corporation (the “Borrower”), Twenty-First Century Fox, Inc., a Delaware corporation (the “Parent Guarantor”) and the Lenders under the Credit Agreement (each as defined below) party hereto
amends the Bridge Credit Agreement, dated as of December 15, 2016 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, including all Schedules and Exhibits thereto, the “Credit
Agreement”) by and among, inter alios, the Borrower, the Parent Guarantor, the lenders party thereto from time to time (hereinafter collectively referred to as the “Lenders”), and J.P. Morgan Europe Limited, as
designated agent (the “Designated Agent”). 
 W I T N E S S E T H: 

WHEREAS, the Borrower has appointed each of Goldman Sachs Bank USA, Deutsche Bank Securities Inc. and JPMorgan Chase Bank, N.A. to act
as joint lead arranger and joint bookrunner with respect to the Amendment (each a “First Amendment Arranger” and, collectively, the “First Amendment Arrangers”) and each First Amendment Arranger has agreed to act in
such roles; 
 WHEREAS, the Borrower, the Parent Guarantor and the Lenders party hereto constituting the Required Lenders wish to
amend the Credit Agreement as set forth herein; 
 WHEREAS, the Borrower and the Parent Guarantor have requested that certain of the
Lenders (such Lenders, the “Additional Lenders”) provide additional Tranche 1 Commitments in an aggregate principal amount of £3,125,000,000 (the “Additional Tranche 1 Commitments”), which shall be available
starting on the First Amendment Effective Date (as defined below) and structured as an increase in the principal amount of Tranche 1 Commitments under the Credit Agreement; and 

WHEREAS, each Additional Lender has agreed on a several and not joint basis to provide Additional Tranche 1 Commitments in the
aggregate principal amount set forth opposite its name on Schedule I hereto subject to the terms and conditions set forth in this Amendment. 

NOW THEREFORE, in consideration of the foregoing recital, mutual agreements contained herein and for good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Borrower, the Parent Guarantor and the Lenders party hereto hereby agree as follows: 

Section 1.    Defined Terms. All capitalized terms used but not defined in this Amendment
shall have the respective meanings specified in the Credit Agreement. 

Section 2.    Amendments to the Credit Agreement. Subject to the satisfaction of the
conditions set forth in Section 4 of this Amendment, the following amendments shall be made to the Credit Agreement: 

(a)    Amended Definitions. The below definitions as set forth in Section 1.01 of the
Credit Agreement are amended as follows: 
 (i)    The definition of “Fee and Syndication
Letter” is amended and restated in its entirety as follows: 
 ““Fee and Syndication Letter” means a collective
reference to (a) that certain Fee 

 
and Syndication Letter, dated as of December 15, 2016, by and among the Borrower, the Agents and the Initial Lenders and (b) that certain Supplemental Fee and Syndication Letter, dated
as of the First Amendment Effective Date, by and among the Borrower, the Agents and the Additional Lenders (as defined in the First Amendment).” 

(ii)    The definition of “Materially Adverse Amendment” is amended and restated in its entirety
as follows: 
 ““Materially Adverse Amendment” means a modification, amendment or waiver to or of the terms or
conditions of the Scheme or Takeover Offer (as the case may be) compared to the terms and conditions that were included in the Original Press Release as amended or superseded by the draft of the Press Release or Offer Press Announcement (as the case
may be) delivered pursuant to Section 4(d) of the First Amendment that is materially adverse to the interests of the Lenders, it being acknowledged (except as otherwise agreed in writing by the Arrangers) that a change to the consideration
(other than to the extent the consideration consists of cash (in an amount per Target Share not greater than the amount already offered), common stock of the Parent Guarantor or a combination of the two) for the Target Shares would be materially
adverse to the Lenders, but that a waiver of a pre-condition which then becomes a condition to be satisfied in connection with the Target Acquisition would not be materially adverse to the interests of the
Lenders, and provided that any modification, amendment or waiver required pursuant to the City Code or by a court of competent jurisdiction or the Panel shall not be a Materially Adverse Amendment.” 

(iii)    The definition of “Offer Documents” is amended and restated in its entirety as follows:

 ““Offer Documents” means the Takeover Offer Document, the Original Press Release and the Offer Press
Announcement.” 
 (iv)    The definition of “Original Press Release” is amended and
restated in its entirety as follows: 
 ““Original Press Release” means the announcement made on December 15,
2016 by the Parent Guarantor and the Target pursuant to Rule 2.7 of the City Code.” 
 (v)    The
definition of “Press Release” is amended and restated in its entirety as follows: 
 ““Press Release” means
a press announcement released by or on behalf of the Borrower announcing a revision to the terms of the Target Acquisition to be effected by a Scheme and setting out the terms and conditions of such revision.” 

(vi)    The definition of “Scheme Documents” is amended and restated in its entirety as follows:

 ““Scheme Documents” means, collectively, (a) the Scheme Circular, (b) the Original Press Release,
(c) the Press Release, (d) the Scheme Resolutions and (e) any other document issued by or on behalf of Target to its shareholders in respect of the Scheme and any other document designated as a “Scheme Document” by the
Designated Agent and the Parent Guarantor, the Borrower or any Acquisition Co (if any).” 

  
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 (vii)    The definition of “Tranche 1 Commitment”
is amended and restated in its entirety as follows: 
 ““Tranche 1 Commitment” means, as to any Lender, the commitment
of such Lender to make an Advance pursuant to Section 2.01, as such commitment may be reduced from time to time pursuant to the terms hereof. The initial amount of each Lender’s Tranche 1 Commitment is (a) the amount set forth in the
column labeled “Tranche 1 Commitment” opposite such Lender’s name on Schedule I hereto and (b) the amount set forth in the column labeled “Additional Tranche 1 Commitment” opposite such Lender’s name on Schedule I
to the First Amendment or, in either case, (c) if such Lender has entered into any Assignment and Assumption, the amount set forth for such Lender in the Register maintained by the Designated Agent pursuant to Section 9.07(c), as such
amount may be reduced pursuant to Section 2.04. As of the First Amendment Effective Date, the aggregate amount of the Tranche 1 Commitments is £10,825,000,000.” 

(b)    Additional Definitions. The following definitions shall be inserted in alphabetical order in
Section 1.01 of the Credit Agreement: 
 “Additional Tranche 1 Commitments” has
the meaning set forth in the First Amendment, which, following the First Amendment Effective Date, shall constitute Tranche 1 Commitments hereunder. 

“Beneficial Ownership Certification” means a certification regarding beneficial ownership required by the
Beneficial Ownership Regulation. 
 “Beneficial Ownership Regulation” means 31 C.F.R. § 1010.230. 

“First Amendment” means that certain First Amendment to Bridge Credit Agreement, dated as of July 11,
2018, by and among the Parent Guarantor, the Borrower, the Additional Lenders (as defined therein) party thereto, the other Lenders party thereto and the Designated Agent. 

“First Amendment Effective Date” means the “First Amendment Effective Date” under and as defined in
the First Amendment, which occurred on July 11, 2018. 
 (c)    Amended Sections. 

(i)    Clause (a) of Section 2.03 of the Credit Agreement is amended to add the following phrase
at the end thereof “provided, further, however, that Commitment Fees in respect of the Additional Tranche 1 Commitments shall begin to accrue on the First Amendment Effective Date”. 

(ii)    Clause (b)(ii) of Section 3.02 of the Credit Agreement is amended by deleting the words
“Press Release” and substituting by the following words “Original Press Release as amended or superseded by the Press Release”. 

  
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 (iii)    Clause (c)(ii) of Section 3.02 of the Credit
Agreement is amended by deleting the words “Offer Press Announcement” and substituting by the following words “Original Press Release as amended or superseded by the Offer Press Announcement”. 

(iv)    Clause (o) of Section 4.01 of the Credit Agreement is amended by adding the following
phrase after the words “Press Release”: “, the Original Press Release”. 

(v)    Clause (i)(vi) of Section 5.01 of the Credit Agreement is amended and restated in its entirety
as follows: 
 “KYC Information. Promptly following any request therefor, information and documentation reasonably requested by
the Designated Agent or any Lender for purposes of compliance with applicable “know your customer” requirements under the PATRIOT Act, the Beneficial Ownership Regulation or other applicable anti-money laundering laws.” 

(vi)    Clause (k)(i) of Section 5.01 of the Credit Agreement is amended and restated in its entirety
as follows: 
 “(i)    Issue a Press Release or, as the case may be, an Offer Press Announcement (in the form
delivered to the Designated Agent pursuant to Section 4(d) of the First Amendment, subject to such amendments as are not Materially Adverse Amendments or have been approved by the Arrangers in writing acting reasonably (such approval not to be
unreasonably withheld, delayed or conditioned)) within 2 Business Days of the First Amendment Effective Date.” 

(vii)    Clause (k)(iv) of Section 5.01 of the Credit Agreement is amended and restated in its
entirety as follows: 
 “(iv) Except as consented to by the Arrangers in writing (such consent not to be unreasonably withheld, delayed
or conditioned) and save to the extent that following the issue of a Press Release or an Offer Press Announcement the Parent Guarantor, the Borrower or any Acquisition Co elects to proceed with the Target Acquisition by way of Takeover Offer or
Scheme respectively, ensure that (i) if the Target Acquisition is effected by way of a Scheme, the Scheme Circular corresponds in all material respects to the terms and conditions of the Scheme as contained in the Original Press Release as
amended or superseded by the Press Release to which it relates or (ii) if the Target Acquisition is effected by way of a Takeover Offer, the Takeover Offer Document corresponds in all material respects to the terms and conditions of the
Takeover Offer as contained in the Original Press Release as amended or superseded by the corresponding Offer Press Announcement, subject in the case of a Scheme to any variation required by the Court and in either such case to any variations which
are not Materially Adverse Amendments.” 
 Section 3.    Additional Tranche 1
Commitments. 
 (a)     Subject to the satisfaction of the conditions set forth in Section 4 hereof, each
Additional Lender hereby acknowledges and agrees that it has an Additional Tranche 1 Commitment in the amount set forth next to its name on Schedule I attached hereto and agrees to make its pro rata share of any Advances to the Borrower in
accordance with the terms and conditions of the Credit Agreement as amended hereby. 

  
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 (b)    On the First Amendment Effective Date, (i) each Additional
Tranche 1 Commitment shall be deemed for all purposes a Tranche 1 Commitment and (ii) each Additional Lender shall be a Lender with respect to each Additional Tranche 1 Commitment and all matters relating thereto. 

Section 4.    Conditions to Effectiveness. This Amendment shall become effective on the
date on which each of the following conditions is satisfied (the “First Amendment Effective Date”): 

(a)    Executed Amendment. The Designated Agent shall have received one or more counterparts of this Amendment duly
executed by (i) each Loan Party, (ii) the Lenders constituting Required Lenders and (iii) each Additional Lender. 

(b)    Fees and Expenses. The First Amendment Arrangers and the Designated Agent shall have received (or other
arrangements acceptable to the First Amendment Arrangers and the Designated Agent shall have been made for) payment of all fees and expenses then due and payable on or prior to the First Amendment Effective Date including those set forth in the
Supplemental Fee and Syndication Letter, dated as of the date hereof, by and among the Borrower and the First Amendment Arrangers (including all reasonable attorney costs of the First Amendment Arrangers and Designated Agent), subject in the case of
any expenses to be paid to the Borrower receiving an invoice with respect thereto. 
 (c)    Closing
Deliverables. The Designated Agent shall have received on or before the First Amendment Effective Date, each dated on or about such date: 

(i)    Certified copies of (A) the articles or certificate of incorporation, certificate of formation or other
organizational document and all amendments thereto of each Loan Party, certified as of a recent date by the Secretary of State (or comparable authority) of its jurisdiction of organization or formation including a certification that the same has not
been amended since the date of such certification, (B) the bylaws, operating agreement or similar governing document of each Loan Party, as then in effect and as in effect at all times from the date on which the resolutions referred to in
clause (C) below were adopted to and including the date of such certificate and (C) the resolutions or similar authorizing documentation of the governing bodies of each Loan Party authorizing the incurrence of the
Additional Tranche 1 Commitments and such Person to enter into and perform its obligations under the Loan Documents to which it is a party; 

(ii)    A good standing certificate or similar certificate dated a date reasonably close to the First Amendment Effective
Date from the jurisdiction of organization or formation of each Loan Party, but only where such concept is applicable; 

(iii)    A certificate of a Responsible Officer of each Loan Party certifying the names and true signatures of the
Responsible Officers of such Loan Party authorized to execute and deliver this Amendment and the other documents to be delivered by it hereunder; and 

(iv)    A favorable opinion of Simpson Thacher & Bartlett LLP, counsel for the Loan Parties, in form and
substance reasonably satisfactory to the Designated Agent. 
 (d)    Press Release. The First Amendment Arrangers
shall have received a copy, certified by the Borrower, of a revised draft of the Press Release or Offer Press Announcement (as applicable, depending upon whether it is proposed to effect the Target Acquisition by way of a Scheme or Takeover Offer)
in the form in which it is proposed to be issued, in each case, in form and substance reasonably satisfactory to the First Amendment Arrangers; provided, that the draft provided to the First Amendment Arrangers as of the date hereof and prior
to the occurrence of the First Amendment Effective Date is satisfactory. 

  
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 The Designated Agent and Lenders, as applicable, hereby irrevocably confirm that the above
conditions have been satisfied and the First Amendment Effective Date has occurred as of the date hereof. 

Section 5.    Representations and Warranties. To induce the Lenders to enter into this
Amendment, each Loan Party represents and warrants to the Designated Agent and Lenders that, as of the First Amendment Effective Date: 

(a)    The execution, delivery and performance by each Loan Party of this Amendment are within such Loan Party’s
corporate powers, have been duly authorized by all necessary corporate action, and do not (i) contravene such Loan Party’s Constitutive Documents, (ii) violate any material applicable law or contractual restriction binding on or
affecting any Loan Party, any of its Subsidiaries or any of their properties or (iii) result in or require the creation or imposition of any Lien upon or with respect to any of the properties of any Loan Party or any of its Subsidiaries. 

(b)    All authorizations or approvals and other actions by, and all notices to and filings with, any governmental
authority or regulatory body or any other third party that are required to be obtained or made by the Loan Parties for the due execution, delivery, recordation, filing or performance by any Loan Party of this Amendment. 

(c)    This Amendment has been duly executed and delivered by each Loan Party party hereto. This Amendment is the legal,
valid and binding obligation of each Loan Party party hereto, enforceable against such Loan Party in accordance with its terms. 

(d)    Immediately prior to and after giving effect to the terms, conditions, and provisions of this Amendment, no Default
or Event of Default exists. 
 (e)    The representations and warranties contained in
Section 4.01 of the Credit Agreement are true and correct in all material respects (except for representations and warranties qualified as to materiality and Material Adverse Effect, which shall be true and correct in all
respects) on and as of such date, before and after giving effect to this Amendment, as though made on and as of the First Amendment Effective Date (except to the extent any such representation or warranty specifically relates to an earlier date in
which case such representation and warranty shall be accurate in all material respects as of such earlier date). 

Section 6.    Miscellaneous. 

(a)    Confirmation of Loan Documents. Each Loan Party hereby covenants and agrees that, except as expressly
amended and/or modified by this Amendment, all of the terms, conditions, and provisions of the Credit Agreement and the other Loan Documents shall remain unchanged and in full force and effect. Each Loan Party hereby acknowledges and agrees that,
after giving effect to this Amendment, all of its respective obligations and liabilities under the Loan Documents to which it is a party, as such obligations and liabilities have been amended by this Amendment, are reaffirmed, and remain in full
force and effect. After giving effect to this Amendment, each Loan Party reaffirms its guaranty of the Guaranteed Obligation, which Guaranteed Obligations shall continue in full force and effect during the term of the Credit Agreement (after giving
effect to this Amendment), in each case, on and subject to the terms and conditions set forth in the Credit Agreement (as amended by this Amendment) and the other Loan Documents. The Credit Agreement, together with this Amendment, shall

  
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be read and construed as a single agreement. All references in the Loan Documents to the Credit Agreement or any other Loan Document shall hereafter refer to the Credit Agreement or any other
Loan Document as amended hereby. On and after the date hereof, this Amendment shall for all purposes constitute a “Loan Document”. Each reference to a “Commitment” shall be deemed to include the Additional Tranche 1 Commitments
hereunder and all other related terms will have the correlative meanings mutatis mutandis. 

(b)    Limitation of this Amendment. The amendments set forth herein are effective solely for the purposes set
forth herein and shall be limited precisely as written. Except as otherwise set forth herein, nothing contained herein and no actions taken pursuant to the terms hereof are intended to constitute a novation of the Credit Agreement, or any waiver of
the terms, conditions, or provisions of the Credit Agreement and/or any of the other Loan Documents and do not constitute a release, termination or waiver of any of the rights and/or remedies granted to the Lenders and/or the Designated Agent under
the Loan Documents. Upon the effectiveness of this Amendment, each reference in the Credit Agreement to “this Agreement”, “herein”, “hereof” and words of like import and each reference in the Credit Agreement and the
Loan Documents to the Credit Agreement shall mean and refer to the Credit Agreement as amended hereby. 

(c)    Captions. 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. 

(d)    Successors and Assigns. This Amendment shall be binding upon and shall inure to the sole benefit of the
Borrower, the Parent Guarantor, the Designated Agent and the Lenders and their respective successors and assigns. 

(e)    References. Any reference to the Credit Agreement contained in any notice, request, certificate, or other
document executed concurrently with or after the execution and delivery of this Amendment shall be deemed to include this Amendment unless the context shall otherwise require. 

(f)    Miscellaneous. This Amendment shall be subject to the following Sections of the Credit Agreement, as if set
forth herein in their entirety: Sections 9.08, 9.09, 9.10, 9.11, 9.17 and 9.18. 
 [Signature
Pages Follow] 

  
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 IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed and delivered as
of the date first above written. 
  

					
	21ST CENTURY FOX AMERICA, INC.,
		 	as Borrower
		
	By:	 	 /s/ Janet Nova

		 	Name:	 	Janet Nova
		 	Title:	 	Executive Vice President and Deputy General Counsel
	
	TWENTY-FIRST CENTURY FOX, INC.,
		 	as Parent Guarantor
		
	By:	 	 /s/ Janet Nova

		 	Name:	 	Janet Nova
		 	Title:	 	Executive Vice President and Deputy Group General Counsel

 Signature Page to First Amendment 

 
					
	GOLDMAN SACHS BANK USA,
		 	as a Lender
		
	By:	 	 /s/ Robert Ehudin

		 	Name:	 	Robert Ehudin
		 	Title:	 	Authorized Signatory

 Signature Page to First Amendment 

 
					
	GOLDMAN SACHS LENDING PARTNERS LLC,
		 	as a Lender and an Additional Lender
		
	By:	 	 /s/ Robert Ehudin

		 	Name:	 	Robert Ehudin
		 	Title:	 	Authorized Signatory

 Signature Page to First Amendment 

 
					
	DEUTSCHE BANK AG CAYMAN ISLANDS BRANCH,
		 	as a Lender and an Additional Lender
		
	By:	 	 /s/ Ming K. Chu

		 	Name:	 	Ming K. Chu
		 	Title:	 	Director
		
	By:	 	 /s/ Virginia Cosenza

		 	Name:	 	Virginia Cosenza
		 	Title:	 	Vice President

 Signature Page to First Amendment 

 
					
	JPMORGAN CHASE BANK, N.A., LONDON BRANCH
		 	as a Lender and an Additional Lender
		
	By:	 	 /s/ Andres Korin

		 	Name:	 	Andres Korin
		 	Title:	 	Vice President

 Signature Page to First Amendment 

 
					
	J.P. MORGAN EUROPE LIMITED,
		 	as Designated Agent
		
	By:	 	 /s/ Andres Korin

		 	Name:	 	Andres Korin
		 	Title:	 	Vice President

 Signature Page to First Amendment 

 Schedule I (Additional Tranche 1 Commitments) 

 

			
	  

Additional Lenders
	 	  

Additional Tranche 1 Commitments

	  

GOLDMAN SACHS LENDING
 PARTNERS
LLC
	 	  

£1,041,666,666.67

	  

DEUTSCHE BANK AG
 CAYMAN ISLANDS
BRANCH
	 	  

£1,041,666,666.67

	  

JPMORGAN CHASE BANK,
 N.A., LONDON
BRANCH
	 	  

£1,041,666,666.66

	  

Total
	 	  

£3,125,000,000.00

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