Document:

EX-4.1

 Exhibit 4.1 

EXECUTION VERSION 
 THIRD
SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of February 10, 2022, among Adient US LLC, a Michigan limited liability company (the “Company”), each guarantor identified on the
signature pages hereto (collectively, the “Guarantors”), and U.S. Bank Trust Company, National Association, as successor in interest to U.S. Bank National Association, as trustee under the Indenture referred to below (the
“Trustee”) and as collateral agent (in such capacity, the “Collateral Agent”). 
 WITNESSETH 

WHEREAS, the Company and the Guarantors have heretofore executed and delivered to the Trustee an indenture (as supplemented or amended from
time to time, the “Indenture”), dated as of April 23, 2020, providing for the issuance of 9.000% Senior First Lien Notes due 2025 (the “Notes”); 

WHEREAS, the Company has solicited consents from the Holders of the Notes pursuant to its Offer to Purchase and Consent Solicitation
Statement, dated January 26, 2022 (the “Offer to Purchase”), to certain proposed amendments to the Indenture with respect to the Notes as described in the Offer to Purchase and set forth in Section 2 of this Supplemental
Indenture; 
 WHEREAS, pursuant to Section 9.02 of the Indenture, the Company, the Guarantors and the Trustee are authorized to execute
and deliver this Supplemental Indenture with the consent of the Holders of at least 66 2/3% of the aggregate principal amount of Notes then outstanding in order to amend the Indenture as set forth in Section 2 of this Supplemental Indenture;

 WHEREAS, the Company has received and caused to be delivered to the Trustee evidence of the consents from Holders of more than 66 2/3% in
aggregate principal amount of the outstanding Notes (excluding any Notes Beneficially Owned by the Company or its Affiliates) and the Trustee has received all the documents described in Sections 9.02 and 9.06 of the Indenture required to enter into
this Supplemental Indenture; and 
 WHEREAS, the Company hereby requests that the Trustee join with the Company and the Guarantors in the
execution of this Supplemental Indenture and the Company has provided the Trustee with a Board Resolution authorizing the execution of and approving this Supplemental Indenture. 

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged,
the Company, the Guarantors and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows: 

1.    CAPITALIZED TERMS. Capitalized terms used herein without definition shall have the meanings assigned
to them in the Indenture. 
 2.    AMENDMENTS TO INDENTURE. The following amendments shall apply with
respect to the Indenture and the Notes: 
 (a)    the following sections and clauses of the Indenture are
hereby deleted in their entirety: 
 Section 4.03 (Reports) 

Section 4.04 (Compliance Certificate) 

Section 4.05 (Taxes) 

Section 4.06 (Stay, Extension and Usury Laws) 

Section 4.07 (Restricted Payments) 

Section 4.08 (Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries) 

Section 4.09 (Incurrence of Indebtedness and Issuance of Disqualified Stock or Preferred Stock) 

Section 4.10 (Asset Sales) 

Section 4.11 (Transactions with Affiliates) 

Section 4.12 (Liens) 

Clause (2) of Section 4.13 (maintenance of rights, licenses and franchises) 

Section 4.14 (Offer to Repurchase Upon Change of Control) 

 Section 4.16 (Future Guarantees) 

Section 4.17 (Designation of Restricted and Unrestricted Subsidiaries) 

Section 4.19 (Changes in Covenants When Notes Rated Investment Grade) 

Section 4.21 (Post-Closing Covenant) 

Clause (a)(4) of Section 5.01 

(b)    Section 6.01(3) of the Indenture is hereby amended by inserting the underlined language and removing
the struck-through language below: 
 failure by Parent, the Company or any of their Restricted Subsidiaries for 60 days
after notice by the Trustee to the Company or by the Holders of at least 30% in aggregate principal amount of the Notes then outstanding voting as a single class to the Company and the Trustee to comply with Section 4.02 or,
for so long as Liens on the Collateral secure the Notes and the Guarantees, Sections 4.15, 4.18 and 4.20 of this Indentureany of the agreements in this (other than a default referred to in clause
(1) or (2) of this Section 6.01)); provided that in the case of a failure to comply with
Section 4.03, such period of continuance of such default or breach shall be 90 days after written notice described in this clause (3) of
Section 6.01 has been given. 
 (c)     Section 4.15 is
hereby amended by inserting the underlined language and removing the struck-through language below: 
 For so long as Liens on the
Collateral secure the Notes and the Guarantees, the The Company and the Guarantors shall execute any and all further documents, financing statements, agreements and instruments, and take all further action that may be required
under applicable law, or that the Collateral Agent may reasonably request, in order to grant, preserve, protect and perfect the validity and priority of the security interests and Liens created or intended to be created by the Security Documents
(including, without limitation, the notarization of the Spanish Law Security Documents, the delivery of notifications to counterparties and the registration in any applicable public registry). In addition, from time to time but only for so long
as Liens on the Collateral secure the Notes and the Guarantees, the Company will reasonably promptly secure the obligations under this Indenture, the notes and the Security Documents by pledging or creating, or causing to be pledged or created,
perfected security interests in and liens on the Collateral. Such security interests and liens will be created under the Security Documents and other security agreements, mortgages and other instruments and documents in form and substance reasonably
satisfactory to the Trustee. 
 (d)     Section 4.18 is hereby amended by inserting the underlined language below: 

For so long as Liens on the Collateral secure the Notes and the Guarantees, Parent shall, and shall cause each of the Restricted
Subsidiaries to, (i) at all times maintain, preserve and protect all property material to the conduct of its business and keep such property in good repair, working order and condition (other than wear and tear occurring in the ordinary course
of business); (ii) from time to time make, or cause to be made, all necessary and proper repairs, renewals, additions, improvements and replacements thereto necessary in order that the business carried on in connection therewith may be properly
conducted at all times and (iii) keep its insurable property insured at all times by financially sound and reputable insurers. 
 (e)
    Section 4.20 is hereby amended by inserting the underlined language and removing the struck-through language below: 

For so long as Liens on the Collateral secure the Notes and the Guarantees From and after the Issue Date, and subject
to the applicable limitations set forth in the Security Documents and this Indenture (including with respect to Excluded Property), if the Company or any Guarantor creates any additional security interest upon any property or asset that would
constitute Collateral to secure any First Lien Obligations or ABL Obligations, it shall concurrently grant (i) a first priority perfected security interest (subject to Permitted Liens and the terms of the Intercreditor Agreements) upon any such
Fixed Asset Priority Collateral and (ii) a second priority perfected security interest (subject to Permitted Liens and the terms of the Intercreditor Agreements) upon any such ABL Priority Collateral, as security for the Notes Obligations.
Notwithstanding the foregoing, for so long as Liens on the Collateral secure the Notes and the Guarantees the Company or such Guarantor shall execute and deliver such Mortgages, title insurance policies, financing statements, opinions of
counsel and such other instruments as required under the Term Loan Credit Agreement as shall be reasonably necessary to vest in the Collateral Agent a first-priority perfected security interest (subject to Permitted Liens) in such Fixed Asset
Priority Collateral that constitutes Mortgaged Property and compliance with such requirements under the Term Loan Credit Agreement shall satisfy the requirements of this Section 4.20. 

  
 -2- 

 (f)     Section 12.02 is hereby amended by inserting a new
paragraph (D) at the end thereof as follows: 
 (D)    Notwithstanding anything else in this Indenture, the Notes,
any Security Document or the Intercreditor Agreements, at the election of the Company set forth in an Officer’s Certificate delivered to the Trustee, the Liens on the Collateral that secure the Notes and the Guarantees shall automatically,
unconditionally and irrevocably be released. Upon such election by the Company the Holders of the Notes irrevocably direct the Trustee and Collateral Agent to, and the Trustee and Collateral Agent shall, enter into such further amendments,
instruments and agreements, and deliver such notices, certificates, instruments of release and other documents, in each case, as may be requested by the Company in order to give effect to such release. 

(g)     Any provision contained in the Notes that relates to the sections in the Indenture that are amended pursuant to
this Section 2 shall likewise be amended so that any such provision contained in such Note will conform to and be consistent with the Indenture, as amended by this Supplemental Indenture. 

3.    NO RECOURSE AGAINST OTHERS. No director, officer, employee, incorporator or stockholder of the
Company or any Guarantor, as such, will have any liability for any obligations of the Company or the Guarantors under the Notes, the Indenture, the Note Guarantees or for any claim based on, in respect of, or by reason of, such obligations or their
creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. The waiver may not be effective to waive liabilities under the federal
securities laws. 
 4.     NEW YORK LAW TO GOVERN. THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN
AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 

5.    COUNTERPARTS. The parties may sign any number of copies of this Supplemental Indenture. Each signed
copy will be an original, but all of them together represent the same agreement. Delivery of an executed counterpart of a signature page to this Supplemental Indenture by facsimile, email or other electronic means shall be effective as delivery of a
manually executed counterpart of this Supplemental Indenture. 
 6.    EFFECT OF HEADINGS. The Section
headings herein are for convenience only and shall not affect the construction hereof. 
 7.    THE
TRUSTEE AND COLLATERAL AGENT. The Trustee and Collateral Agent shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein,
all of which recitals are made solely by the Company and the Guarantors. All of the provisions contained in the Indenture in respect of the rights, privileges, immunities, powers, and duties of the Trustee and Collateral Agent shall be applicable in
all respects of this Supplemental Indenture as fully and with like force and effect as though fully set forth in full herein. 

9.    SUCCESSORS. All agreements of the Company and the Guarantors in this Supplemental Indenture shall
bind their successors, except as otherwise provided in the Indenture. All agreements of the Trustee in this Supplemental Indenture shall bind its successors. 

  
 -3- 

 10.    SEVERABILITY. In case any provision of this
Supplemental Indenture is invalid, illegal or unenforceable, the validity, legality and enforceability or the remaining provisions shall not in any way be affected or impaired thereby. 

11.    EFFECT AND EFFECTIVENESS. 

(a)    This Supplemental Indenture supplements the Indenture and shall be a part, and subject to all the
terms, thereof. The Indenture, as supplemented and amended by this Supplemental Indenture, is in all respects ratified and confirmed, and the Indenture and this Supplemental Indenture shall be read, taken and construed as one and the same
instrument. All provisions included in this Supplemental Indenture supersede any conflicting provisions included in the Indenture unless not permitted by law. The Trustee accepts the trusts created by the Indenture, as supplemented by this
Supplemental Indenture, and agrees to perform the same upon the terms and conditions of the Indenture, as supplemented by this Supplemental Indenture. 

(b)    This Supplemental Indenture shall become effective and operative as of the date hereof upon the
execution and delivery hereof by the Company, the Guarantors and the Trustee. The amendments provided for in Section 2 of this Supplemental Indenture shall not become operative unless and until at least 66 2/3% of the aggregate principal amount
of outstanding Notes has been purchased by the Company pursuant to the terms set forth in the Offer to Purchase, and such amendments shall automatically become operative at such time. 

[Signature Pages Follow] 

  
 -4- 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed and attested, all as of the date first above written. 
  

					
	ADIENT US LLC
		
	By:	 	 /s/ Brad Pilon

		 	Name:	 	Brad Pilon
		 	Title:	 	Authorized Person
	
	ADIENT ELDON INC.
	ADIENT SYSTEMS ENGINEERING LLC
	ADIENT CLANTON INC.
	ADIENT INC.
	ADIENT HOLDING MEXICO LLC
	ADIENT HOLDING BRAZIL LLC
	ADIENT HOLDING SLOVAKIA LLC
	ADIENT HOLDING TURKEY LLC
	ADIENT HOLDING SOUTH AFRICA LLC
	FUTURIS GLOBAL HOLDINGS, LLC
	FUTURIS AUTOMOTIVE (NA) HOLDINGS, INC.
	FUTURIS AUTOMOTIVE (NA) INTERMEDIATE HOLDINGS INC.
	FUTURIS AUTOMOTIVE (US) INC.
	FUTURIS AUTOMOTIVE (CA) LLC
	CNI ENTERPRISES, INC.
	CNI-DULUTH, LLC
	NICA, INC.
	UNIVERSAL TRIM, INC.,
	as a Guarantor
		
	By:	 	 /s/ Brad Pilon

		 	Name:	 	Brad Pilon
		 	Title:	 	Authorized Person
	
	ADIENT US ENTERPRISED LIMITED PARTNERSHIP
	
	By: Adient Ltd., its general partner
		
	By:	 	 /s/ Brad Pilon

		 	Name:	 	Brad Pilon
		 	Title:	 	Authorized Person

  
 [Signature Page to Third
Supplemental Indenture] 

 
					
	Adient Global Holdings S.à.r.l., a Luxembourg company governed under the laws of the Grand Duchy of Luxembourg as a société à responsibilité limitée, with its
registered office at 35F, Avenue John F Kennedy, L-1855 Luxembourg, Grand Duchy of Luxembourg and registered with the Luxembourg Register of Commerce and Companies (Registre de Commerce et des
Sociétés, Luxembourg) under number B 214.737
		
	By:	 	 /s/ Phillip A. Rotman II

		 	Name:	 	Phillip A. Rotman II
		 	Title:	 	Category A Manager
		
	By:	 	 /s/ Alexandru Cernat

		 	Name:	 	Alexandru Cernat
		 	Title:	 	Category B Manager
	
	Adient Luxembourg Poland Holding S.à.r.l., a Luxembourg company governed under the laws of the Grand Duchy of Luxembourg as a société à responsibilité limitée, with
its registered office at 35F, Avenue John F Kennedy, L-1855 Luxembourg, Grand Duchy of Luxembourg and registered with the Luxembourg Register of Commerce and Companies (Registre de Commerce et des
Sociétés, Luxembourg) under number B 204.878
		
	By:	 	 /s/ Phillip A. Rotman II

		 	Name:	 	Phillip A. Rotman II
		 	Title:	 	Category A Manager
		
	By:	 	 /s/ Alexandru Cernat

		 	Name:	 	Alexandru Cernat
		 	Title:	 	Category B Manager

  
 [Signature Page to Third
Supplemental Indenture] 

 
					
	Adient Luxembourg Asia Holding S.à.r.l., a Luxembourg company governed under the laws of the Grand Duchy of Luxembourg as a société à responsibilité limitée, with
its registered office at 35F, Avenue John F Kennedy, L-1855 Luxembourg, Grand Duchy of Luxembourg and registered with the Luxembourg Register of Commerce and Companies (Registre de Commerce et des
Sociétés, Luxembourg) under number B 208.006
		
	By:	 	 /s/ Phillip A. Rotman II

		 	Name:	 	Phillip A. Rotman II
		 	Title:	 	Category A Manager
		
	By:	 	 /s/ Alexandru Cernat

		 	Name:	 	Alexandru Cernat
		 	Title:	 	Category B Manager
	
	Adient Global Holdings Luxembourg S.à.r.l., a Luxembourg company governed under the laws of the Grand Duchy of Luxembourg as a société à responsibilité limitée,
with its registered office at 35F, Avenue John F Kennedy, L-1855 Luxembourg, Grand Duchy of Luxembourg and registered with the Luxembourg Register of Commerce and Companies (Registre de Commerce et des
Sociétés, Luxembourg) under number B 214.747
		
	By:	 	 /s/ Phillip A. Rotman II

		 	Name:	 	Phillip A. Rotman II
		 	Title:	 	Category A Manager
		
	By:	 	 /s/ Alexandru Cernat

		 	Name:	 	Alexandru Cernat
		 	Title:	 	Category B Manager

  
 [Signature Page to Third
Supplemental Indenture] 

 
					
	Adient plc
		
	By:	 	 /s/ Gregory Scott Smith

		 	Name:	 	Gregory Scott Smith
		 	Title:	 	Chief Accounting Officer
	
	Adient Holding Ireland Limited
		
	By:	 	 /s/ Phillip A. Rotman II

		 	Name:	 	Phillip A. Rotman II
		 	Title:	 	Director

  
 [Signature Page to Third
Supplemental Indenture] 

 
					
	Adient Global Holdings Ltd
		
	By:	 	 /s/ Phillip A. Rotman II

		 	Name:	 	Phillip A. Rotman II
		 	Title:	 	Director
	
	Adient International Ltd
		
	By:	 	 /s/ Phillip A. Rotman II

		 	Name:	 	Phillip A. Rotman II
		 	Title:	 	Director

  
 [Signature Page to Third
Supplemental Indenture] 

 
			
	 Adient Impulso S.A.P.I. de C.V., SOFOM, E.N.R.

Adient México Automotriz S. de R.L. de C.V.
 Adient
México Holding S. de R.L. de C.V.
 Adient Industries México S. de R.L. de C.V.

Adient Querétaro S. de R.L. de C.V.
 Adient Shared Services
México S. de R.L. de C.V.
 Adient Servicios S. de R.L. de C.V.

Adient Subholding Leasing S. de R.L. de C.V.
 Adient Leasing
México S. de R.L. de C.V.
 Ensamble de Interiores Automotrices México S. de R.L. de C.V.

Ensamble de lnteriores Automotrices, S. de R.L. de C.V.
 Adient
México S. de R.L de C.V.
 Brena Mex, S.A. de C.V.

		
	By:	 	 /s/ Jeffrey M. Stafeil

	Name:	 	Jeffrey M. Stafeil
	Title:	 	Attorney-in-fact

  
 [Signature Page to Third
Supplemental Indenture] 

 
					
	ADIENT BELGIUM BV, a private limited company (besloten vennootschap/société a responsabilité limité) organised and existing under Belgian law, having its registered office at Paul
Christiaenstraat 1, 9960 Assenede and registered under company number 0437.456.835 RLP Ghent, division Ghent, as a Guarantor
		
	By:	 	 /s/ Phillip A. Rotman II

		 	Name:	 	Phillip A. Rotman II
		 	Title:	 	Director

  
 [Signature Page to Third
Supplemental Indenture] 

 
					
	ADIENT SWEDEN AB
		
	By:	 	 /s/ Gregory Scott Smith

		 	Name:	 	Gregory Scott Smith
		 	Title:	 	Authorized Officer

  
 [Signature Page to Third
Supplemental Indenture] 

 
					
	ADIENT SWEDEN AB
		
	By:	 	 /s/ Phillip A. Rotman II

		 	Name:	 	Phillip A. Rotman II
		 	Title:	 	Authorized Officer

  
 [Signature Page to Third
Supplemental Indenture] 

 
					
	ADIENT AUTOMOTIVE, S.L.U.
		
	By:	 	 /s/ Phillip A. Rotman II

		 	Name:	 	Phillip A. Rotman II
		 	Title:	 	Joint and Several Director
	
	ADIENT SEATING SPAIN, S.L.U.
		
	By:	 	 /s/ Phillip A. Rotman II

		 	Name:	 	Phillip A. Rotman II
		 	Title:	 	Joint and Several Director
	
	ADIENT SEATING HOLDING SPAIN, S.L.U.
		
	By:	 	 /s/ Phillip A. Rotman II

		 	Name:	 	Phillip A. Rotman II
		 	Title:	 	Joint and Several Director
	
	ADIENT REAL ESTATE HOLDING SPAIN, S.L.U.
		
	By:	 	 /s/ Phillip A. Rotman II

		 	Name:	 	Phillip A. Rotman II
		 	Title:	 	Joint and Several Director

  
 [Signature Page to Third
Supplemental Indenture] 

 
					
	Adient Seating UK Ltd
		
	By:	 	 /s/ Phillip A. Rotman II

		 	Name:	 	Phillip A. Rotman II
		 	Title:	 	Director
	
	Adient Properties UK Ltd
		
	By:	 	 /s/ Phillip A. Rotman II

		 	Name:	 	Phillip A. Rotman II
		 	Title:	 	Director
	
	Adient Holding Germany Ltd
		
	By:	 	 /s/ Phillip A. Rotman II

		 	Name:	 	Phillip A. Rotman II
		 	Title:	 	Director
	
	Adient Holding Europe Ltd
		
	By:	 	 /s/ Phillip A. Rotman II

		 	Name:	 	Phillip A. Rotman II
		 	Title:	 	Director
	
	Adient Holding UK Ltd
		
	By:	 	 /s/ Phillip A. Rotman II

		 	Name:	 	Phillip A. Rotman II
		 	Title:	 	Director
	
	Adient Financing Ltd
		
	By:	 	 /s/ Phillip A. Rotman II

		 	Name:	 	Phillip A. Rotman II
		 	Title:	 	Director

  
 [Signature Page to Third
Supplemental Indenture] 

 
					
	Adient Financing International Ltd
		
	By:	 	 /s/ Phillip A. Rotman II

		 	Name:	 	Phillip A. Rotman II
		 	Title:	 	Director
	
	Adient UK Financing Ltd
		
	By:	 	 /s/ Phillip A. Rotman II

		 	Name:	 	Phillip A. Rotman II
		 	Title:	 	Director
	
	Adient UK Financing International Ltd
		
	By:	 	 /s/ Phillip A. Rotman II

		 	Name:	 	Phillip A. Rotman II
		 	Title:	 	Director
	
	Adient Ltd
		
	By:	 	 /s/ Phillip A. Rotman II

		 	Name:	 	Phillip A. Rotman II
		 	Title:	 	Director
	
	Adient UK Global Financing Ltd
		
	By:	 	 /s/ Phillip A. Rotman II

		 	Name:	 	Phillip A. Rotman II
		 	Title:	 	Director

  
 [Signature Page to Third
Supplemental Indenture] 

 
					
	ADIENT SEATING POLAND SPÓŁKA Z OGRANICZONĄ ODPOWIEDZIALNOŚCIĄ, a Polish company with its registered office in Siemianowice Śląskie, at 93 Krupanka Street, 41-100 Siemianowice , Śląskie entered into the register of entrepreneurs of the National Court Register, maintained by the District Court Katowice-Wschód in Katowice, VIII Commercial Division of the
National Register Court, under the KRS number: 0000236927, having the following numbers NIP: 5862148358 and REGON: 220066313 and a share capital of PLN 220,376,500.00
		
	By:	 	 /s/ Jeffrey M. Stafeil

		 	Name:	 	Jeffrey M. Stafeil
		 	Title:	 	Attorney-in-fact
	
	ADIENT FOAM POLAND SPÓŁKA Z OGRANICZONĄ ODPOWIEDZIALNOŚCIĄ, a Polish company with its registered office in Żory, at 6 Wygoda Street, 44-240
Żory, entered into the register of entrepreneurs of the National Court Register maintained by the District Court in Gliwice, X Commercial Division of the National Register Court, under the KRS number: 0000251430, having the following numbers
NIP: 7010029670 and REGON: 140581505 and a share capital of PLN 14,650,000.00.
		
	By:	 	 /s/ Jeffrey M. Stafeil

		 	Name:	 	Jeffrey M. Stafeil
		 	Title:	 	Attorney-in-fact
	
	ADIENT POLAND SPÓŁKA Z OGRANICZONĄ ODPOWIEDZIALNOŚCIĄ, a Polish company with its registered office in Świebodzin, at 78 Zachodnia, 66-200
Świebodzin, entered into the register of entrepreneurs of the National Court Register, maintained by the District Court in Zielona G6ra, VIII Commercial Division of the National Register Court, under the KRS number: 0000013213, having the
following numbers NIP: 9271756246 and REGON: 971291505 and a share capital of PLN 2,710,000.00.
		
	By:	 	 /s/ Jeffrey M. Stafeil

		 	Name:	 	Jeffrey M. Stafeil
		 	Title:	 	Attorney-in-fact

  
 [Signature Page to Third
Supplemental Indenture] 

 
					
	U.S. Bank Trust Company, National Association, as Trustee and Collateral Agent
		
	By:	 	 /s/ Yvonne Siira

		 	Name:	 	Yvonne Siira
		 	Title:	 	Vice President

  
 [Signature Page to Third
Supplemental Indenture]Document

EX 10.1

February 9, 2022

Octavio Marquez 
Address on file with the Company

RE: EMPLOYMENT OFFER LETTER

Dear Octavio:

On behalf of Diebold Nixdorf, Inc. (the “Company”), I am pleased to offer you (“you” or the “Executive”) the position of President and Chief Executive Officer of the Company. The following sets forth the terms and conditions regarding your employment, effective as of the Start Date indicated below and subject to your successful completion of the Company’s customary pre-hire checks and testing for senior level executives. 

Start Date: Your new role shall begin on March 11, 2022 (the “Start Date”).

Position and Duties: You agree to serve as the President and Chief Executive Officer of the Company, reporting directly to the Board of Directors of the Company (the “Board”). This is a full-time position, and you shall devote substantially all of your working time, attention, and energies during normal business hours (other than absences due to illness or vacation) to the performance of your duties for the Company.  As soon as practical following your Start Date, the Company’s Board will appoint you as a non-independent director of the Board. While in your position and during your employment, the Board will nominate you to serve as a director at each of Diebold Nixdorf’s annual meetings, subject to election by the Company’s shareholders.  As an employee director, your service on the Board is without additional compensation.

Term: You will be employed on an “at-will” basis, subject to termination by either party at any time and for any reason.  Except as otherwise required by this offer letter or by law, the Company’s obligations under this offer letter automatically terminate upon the termination of your employment with the Company or its affiliate, and you will have no obligation or duty to further serve the Company in any capacity nor will you be entitled to any further compensation or benefit beyond payment of Base Salary through date of termination and any accrued but unused vacation, unreimbursed business expenses and vested benefits.  All separation and termination compensation and benefits will be governed by this offer letter.

Location & Travel: You understand that significant travel may be required to meet the duties and responsibilities of this position.  Your reasonable travel and related expenses shall be reimbursed in accordance with Company policy.  The Company acknowledges that you will need 

some time to relocate to the U.S. and that your current lease in the Netherlands ends this summer. You agree to relocate to the U.S. by the end of summer 2022.

Compensation: In exchange for the full-time services rendered by you for the Company and its affiliates, the Company will provide you, in the ordinary course, with Base Salary, an annual incentive award and long-term incentive grants as described below. 

Base Salary: Your initial annualized base salary shall be set at $850,000 (“Base Salary”), payable in accordance with the regular payroll practices of the Company. 

Annual Incentive Award: Your initial target bonus shall be 120% of annual Base Salary  measured from January 1 for the first year of employment. For avoidance of doubt, the 2022 bonus will be calculated as if your Base Salary for all of calendar year 2022 was $850,000, without any proportional reduction for the first two and a half months of 2022 when your Base Salary was lower.  Bonus payouts are awarded at the discretion of the Board based on the Board’s determination, in good faith and consistent with its fiduciary duties, that annual targets were achieved.  The annual targets will be established in writing by the Board after consultation with you and within the first ninety (90) days of the applicable bonus period. Your annual bonus will be paid no later than March 15 immediately following the end of the applicable bonus period subject to bonus plan guidelines as may be amended from time to time. In the event your employment with the Company ends due to your death or disability, the Company will pay you a lump sum amount, paid within 60 days of termination, of the annual incentive award at target for the calendar year that includes the date of termination; provided such amount shall be adjusted on a prorated basis.

Long-Term Incentive Grant: Your initial long-term incentive grant value will be $5,000,000 and shall be granted to you on or before the State Date.  The equity mix for this new grant will be 60% Performance Shares and 40% Restricted Stock Units, pending approval by the board.  The long-term incentive grant is subject to the terms set forth in the award agreements and the shareholder approved equity plan. Future long-term incentive grants will be awarded in accord with the Company’s existing programs and practices. 

Vacation: You shall be entitled to four weeks of vacation per year.

Employee Benefits: During your employment, you and, where applicable, your eligible family members, shall be eligible to participate in all employee benefit programs available to senior executives of the Company or its employees generally, as such plans or programs may be in effect from time to time, including, without limitation, health, medical, dental, long-term disability and life insurance plans.

Severance Benefits: You will participate in the Company’s Senior Leadership Severance Plan (the “Plan”) as a Grade 100 Executive.  Notwithstanding anything to the contrary in the Plan or otherwise, (i) no termination, amendment or modification of the Plan following the date of this 

offer letter shall have an adverse impact on you, including by reducing the terms of your Severance Benefits; and (ii) the Plan shall be applied to you as follows:

•“Good Reason” shall include a change in your title, authority, duties or responsibilities or the assignment of any duties that are inconsistent with your position.

Your employment may not be terminated for Cause unless, after the applicable cure period, you are provided an opportunity to be heard at a Board meeting held for the purpose of considering a for Cause termination. 

Change in Control Severance Benefits: You already participate in the Company’s Change in Control (CIC) program. Your existing CIC Agreement will remain in place pursuant to its terms. To the extent the Change in Control Agreement and the Senior Leadership Severance Plan both apply, the terms that are more favorable to you shall control.

Legal Expenses: The Company will reimburse you for reasonable legal fees you incur in connection with the review of this Agreement in an amount not to exceed $10,000.

Tax Matters: All amounts payable to you shall be subject to the withholding of all applicable taxes and deductions required by any applicable law and employee elections. All payments made pursuant to plans in which you participate shall be made in accordance with the taxation and payment provisions contained in such plans.

Miscellaneous: The terms set forth in this offer letter shall not be changed, altered, modified or amended, except by a written agreement signed by both parties hereto. This offer letter, along with the terms of the documents and agreements referred to herein, as modified by this offer letter, and which are incorporated by reference as material terms of this offer letter, supersedes and replaces any previous offers or agreements between us. This offer letter shall be governed by and construed in all respects by the laws of Ohio without reference to principles of conflicts of laws. Any disputes relating to your employment or equity rights shall be resolved by third party mediation and, failing that, by binding arbitration to be held in Cleveland, Ohio in accordance with the rules and procedures of the American Arbitration Association for Employment Arbitration and Mediation. The Company will pay the costs and expenses of such arbitration and mediation.

To accept this offer, please sign this offer letter in the space provided below and return to Jonathan Leiken, Executive Vice President and Chief Legal Officer, retaining a copy for your own file.

We look forward to your decision.

Sincerely,
			
	/s/Jonathan Leiken
	Jonathan Leiken
	Executive Vice President, Chief Legal Officer & Secretary

I accept this offer on the terms set forth above.

			
	Octavio Marquez
	/s/Octavio Marquez
	Date: February 9, 2022

Approved by the Diebold Nixdorf, Inc. Board of Directors

			
	DIEBOLD NIXDORF, INC.
	/s/Gary G. Greenfield
	Gary G. Greenfield
	Chairman of the Board of Directors
	Date: February 9, 2022

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