Document:

EX-10.13

 Exhibit 10.13 

COMPENSATION OF OUTSIDE DIRECTORS 

2014 Compensation Arrangements 
 Cash
Retainer. Each of our outside Directors was paid a $50,000 cash retainer, payable quarterly in advance, and also received the following additional compensation, as applicable: 

Equity Compensation - Restricted Stock Units. On the date of our 2014 Annual Meeting of Shareholders, each of our outside Directors
received an annual grant of restricted stock units for a number of shares having a value (calculated based on the closing price of our Common Stock on the date of grant) of $100,000. The units vest and are automatically converted into common shares
on the earlier of (i) the date immediately preceding the Company’s next succeeding annual meeting of shareholders or (ii) the one-year anniversary of the date of grant. 

Standing Committee Membership 
  

	 	•	 	Each member of the Audit Committee, $15,000 annually; 

  

	 	•	 	Each member of the Compensation Committee, $5,000 annually; and 

  

	 	•	 	Each member of the Nominating and Governance Committee, $5,000 annually. 

 Chairman Position 

 

	 	•	 	Chairman of the Board, $100,000 annually; and 

  

	 	•	 	Chairman of each of the Audit Committee, the Compensation Committee and the Nominating and Governance Committee, $25,000 annually. 

Meeting Fees 
  

	 	•	 	For each meeting of the Board or a Committee of the Board, including any ad hoc committee: 

  

	 	•	 	attended in person by a member, a fee to such member of $1,500 or $3,000 if such member is its Chairman; 

  

	 	•	 	attended via teleconference or videoconference, a fee to each such member of $500 or $1,000 if such member is its Chairman; and 

 

	 	•	 	attended in person by a member, all customary out-of-pocket expenses of such member are reimbursed. 

 Polar
Board Compensation 
 Effective May 2014, additional compensation for the Chairman of Polar Air Cargo Worldwide, Inc. (“Polar”) ceased. Eugene
I. Davis, our former Chairman who retired as a Director of the Company at the time of our 2014 Annual Meeting of Shareholders, previously served as Chairman of Polar. For so serving, Mr. Davis had received an annual cash retainer of $50,000 and
meeting fees in respect of meetings of the Polar Board of Directors, consistent with the meeting fees paid to the Company’s Directors for Company Board and Committee meetings as described above. Except for Mr. Davis, no other person was
compensated by the Company for serving as a Director of Polar. 

 Medical, Dental and Vision Care Insurance 

Optional medical, dental and vision care coverage is made available to our nonemployee Directors and their eligible dependents on terms at a premium cost
similar to that charged to Company employees. 
 Nonemployee Directors who retire from the Board after age 60 and who have 10 or more years of Board service
are eligible to participate in the Company’s medical plans (at full premium cost) until they become eligible for Medicare benefits. For purposes of the foregoing sentence, retirement is defined solely as a non-employee Director opting not to
stand for re-election to the Board. 
 Board Compensation Arrangements for 2015 and Beyond 

For 2015 and beyond, the Compensation Committee approved a change in the method of compensating Board members to consist of a cash and equity retainer,
eliminating meeting fees for a base level of meetings and also eliminating standing non-chair committee retainers. These changes were made by the Committee to better align Board pay with current market practices and to provide a compensation
structure that is more simple, transparent and easy for shareholders to understand. 
 Cash Retainer. Each of our outside Directors will now
receive a $95,000 cash retainer, payable quarterly in advance. 
 Equity Compensation - Restricted Stock Units. On the date of our annual
meeting of shareholders, each of our Directors (other than Mr. Flynn) will receive an annual grant of restricted stock units having a value of $110,000 on terms substantially similar to those described above. 

Standing Committee Membership 
  

	 	•	 	Non-Chair Committee retainers have been eliminated. 

 Chairman Position 

 

	 	•	 	The Chairman of the Board will now receive $150,000 annually; and 

  

	 	•	 	The Chairs of the Audit Committee, the Compensation Committee and the Nominating and Governance Committee will now receive $20,000, $15,000 and $15,000, respectively, per year. 

Meeting Fees 
  

	 	•	 	Regular meeting fees have been eliminated. However, if more than six meetings of the Board or any Committee occur (determined independently) in any given year meeting fees will be paid at the rate of $1,500 per meeting.

 Medical, Dental and Vision Care Insurance 

Optional medical, dental and vision care coverage will continue to be made available to our nonemployee Directors and their eligible dependents on terms
substantially similar to those described above. 

 Polar Board Compensation 

Additional compensation for outside Directors serving on the Polar Board have been eliminated.Exhibit 4.4

 

Unless this certificate is presented by an authorized representative of CDS Clearing and Depository Services Inc. (“CDS”) to Honda Canada Finance Inc. (the “Issuer”) or its agent for registration of transfer, exchange, or payment, and any certificate issued in respect thereof is registered in the name of CDS & CO., or in such other name as is requested by an authorized representative of CDS (and any payment is made to CDS & CO. or to such other entity as is requested by an authorized representative of CDS), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the registered holder hereof, CDS & CO., has a property interest in the securities represented by this certificate herein and it is a violation of its rights for another person to hold, transfer or deal with this certificate. Unless permitted under securities legislation, the holder of this security must not trade the security before the date that is 4 months and a day after the later of (i) l, and (ii) the date the issuer became a reporting issuer in any province or territory.

 

					
	
 
	
 
	
 
	
 
	
ISIN#l

	
 
	
 
	
 
	
 
	
 

	
SERIES 20l-l
	
 
	
 
	
 
	
Serial No.

	
 
	
 
	
HONDA CANADA FINANCE INC.

DEBENTURE
	
 
	
l

	
 
	
 
	
 
	
 
	
 

	
Issue Date
	
 
	
Principal Amount
	
 
	
Maturity Date

	
l
	
 
	
**CAD$l**

 
	
 
	
l

	
 
	
 
	
 
	
 
	
 

	
 
	
for value received hereby promises to pay to or to the order of
	
 

	
REGISTERED HOLDER
	
CDS & CO.

	
ADDRESS
	
85 RICHMOND STREET WEST

	
 
	
TORONTO, ONTARIO  M5H 2C9

	
on the Maturity Date the sum of
	
CAD$l
	
DOLLARS

	
plus interest thereon on each Interest Payment Date at a rate of interest equal to l calculated l, not in advance, paid l and payable in lawful money of Canada

	
Interest Payment Dates:  PAYABLE l ON l OF EACH YEAR COMMENCING ON l*

	
 
	
 
	
 
	
 
	
 

	
SPECIAL FEATURES

 

Reference is hereby made to the further provisions of this Debenture set forth on the reverse hereof.  This Debenture shall become valid only when manually countersigned on behalf of Honda Canada Finance Inc. by an authorized signing officer of the registrar and paying agent. 

 

IN WITNESS WHEREOF, Honda Canada Finance Inc. has caused this Debenture to be signed by its duly authorized signatories.

 

Dated:l

 

Countersigned on behalf of

Canadian Imperial Bank of Commerce

 

 

						
	
By:
	
 
	
By:
	
 
	
By:
	
 

	
 
	
Authorized Signing Officer
	
 
	
Authorized Signatory
	
 
	
Authorized Signatory

 

 

 

*Non-resident withholding tax may be deducted where applicable.

LEGAL_23291130.2    1 of 2

 

 

FURTHER TERMS AND PROVISIONS

 

	
1.
	
At least five (5) Business Days (as defined in the Indenture) prior to each payment date as interest on this Debenture and principal become due, the Company shall forward or cause to be forwarded by prepaid ordinary mail to the Registered Holder at the address appearing on the register of Debentureholders (as defined in the Indenture) maintained by Canadian Imperial Bank of Commerce (the “Issuing, Transfer and Redemption Agent”), a cheque drawn on a chartered bank in Toronto for such interest or principal, as the case may be, payable to the registered Holder. The forwarding of such cheque shall satisfy and discharge the liability of the Company for such interest or principal to the extent of the sum represented thereby unless such cheque shall not be paid on presentation.

	
2.
	
This Debenture is one of a series of like debentures designated as Senior Unsecured Series 2013-3 Debentures of the Company (the “Debentures”) issued pursuant to the indenture made as of September 26, 2005, as supplemented by supplemental indentures from time to time (the “Indenture”) between the Company and BNY Trust Company of Canada (the “Trustee”). This Debenture and all other Debentures now or hereafter issued or certified under the Indenture shall rank pari passu with all other senior unsecured obligations of the Company.

	
3.
	
This Debenture is issued subject to the provisions of the Indenture which is hereby referred to for a complete statement of the rights of the holders of Debentures issued thereunder and of the Company and of the Trustee in respect thereof and of the terms and conditions upon which the Debentures are issued and held, to all of which the Registered Holder by acceptance of this Debenture assents. In the case of any conflict or inconsistency between the terms of this Debenture and the terms of the Indenture, the terms of the Indenture shall prevail.

	
4.
	
The Indenture contains provisions dealing with the effect of default under one or more of the Debentures.

	
5.
	
This Debenture is a direct obligation of the Company, subject to the terms and conditions of the Indenture.

	
6.
	
This Debenture shall be transferable subject to resale restrictions imposed under applicable securities laws; provided however, that no transfer of this Debenture shall be valid or effective unless:

	
(1)
	
it is made on the Register by the holder thereof (or by his duly appointed attorney) by written instrument in form and execution satisfactory to the Issuing, Transfer and Redemption Agent and upon compliance with such reasonable requirements that the Issuing, Transfer and Redemption Agent or other registrar may prescribe; and

	
(2)
	
particulars thereof are endorsed on this Debenture by the Issuing, Transfer and Redemption Agent.

Registered Holders should consult their own legal advisors with respect to application of resale restrictions under securities laws to which they may be subject.

	
7.
	
The principal hereof may become due or be declared due before the Maturity Date of the Debentures, as more particularly provided in the Indenture.

	
8.
	
The Indenture contains provisions for the holding of meetings of, and the giving of notices to the Debentureholders and the rendering of Extraordinary Resolutions (as defined in the Indenture) passed by the holders of a specified majority of the principal amount of the Debentures outstanding under the Indenture at a meeting of the Debentureholders or written instruments signed by Debentureholders may become binding upon all Debentureholders.

	
9.
	
For purposes of disclosure pursuant to the Interest Act (Canada), the annual rates of interest provided in this Debenture (and stated herein to be computed on the basis of a 365 day year or any other period of time less than a calendar year) are equivalent to the rates so determined multiplied by the actual number of days in the applicable calendar year and divided by 365 or such period of time, as the case may be.

LEGAL_23291130.2    2 of 2

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