Document:

Unsecured Promissory Note--Tranche A, dated December 31, 2010

 Exhibit 10.15 
 UNSECURED PROMISSORY NOTE – TRANCHE A 
 CHRYSLER CANADA INC.

 9.0% Fixed Rate Note due June 30, 2017 

 

			
	 $404,900,000
	  	Dated: December 31, 2010

CHRYSLER CANADA INC. (the “Promisor”), for value received, hereby acknowledges itself indebted and promises to
pay to or to the order of the Trustees, in their capacity as trustees of AUTO SECTOR RETIREE HEALTH CARE TRUST (and their successors, collectively, the “Holder”), on each Payment Date the applicable Scheduled Payment Amount
in accordance with the terms hereof as set out in Schedule A hereto (as the same may be amended or replaced in accordance with the terms hereof). 
 ARTICLE 1 – GENERAL 
  

	1.01	Definitions 

 In
this Note, unless expressly stated otherwise, the following terms will have the meanings set out below: 
 “Business Day” means
a day other than a Saturday, Sunday or a day on which banks are permitted to close in Toronto, Ontario. 
 “ELHT” means an
“employee life and health trust” within the meaning of the Income Tax Act (Canada). 
 “Event of Default” means the
failure by the Promisor to make payment of any Scheduled Payment Amount when due and payable and such default is continuing five (5) Business Days after receipt by the Promisor of written notice thereof. 

“Interest Rate” means 9.0% per annum calculated on the basis of a 365 or 366 day year as applicable. 

“Maturity Date” means June 30, 2017. 
 “Note” means this promissory note (including Schedules A, B and C), as it may be amended, supplemented, restated, replaced or otherwise modified from time to time in writing. 

“Person” or “person” means an individual, a partnership, a corporation, a government or any department or agency
thereof, a trustee and any unincorporated organization; and words importing person have similar meanings. 
 “Payment Date”
means the dates set out in Schedule A hereto, and in the event a Payment Date occurs on a date that is not a Business Day, the Payment Date shall be deemed to be the next immediately following Business Day. 

 

	***	Certain information in this agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and
is the subject of a confidential treatment request. 

  
 UNSECURED
PROMISSORY NOTE – TRANCHE A 

 “Principal Sum” means the principal amount outstanding and owed by the Promisor to the
Holder hereunder being $404,900,000 as of the date hereof, as adjusted from time to time in accordance with Schedule B following payment of each Scheduled Payment Amount hereunder or any prepayment made under Section 3.03. 

“Scheduled Payment Amount” means the annual blended payments of principal and interest as set out in Schedule A attached hereto for each
respective Payment Date. 
 “Trustees” means Michael B. Decter, Helen E. Stevenson, Andrew Smith, Randolph Brent McGlynn,
Sandra Dudley, Peter Kennedy, Sym Gill, Jeffrey A. Wareham, Lewis Gottheil and Jo-Ann Hannah and any other Person appointed from time to time as a Trustee of Auto Sector Retiree Health Care Trust. 

 

	1.02	Headings 

 The
division of this Note into Articles and Sections and the insertion of headings are for convenience of reference only and shall not affect the construction or interpretation of this Note. The terms “this Note”, “hereof”,
“hereunder” and similar expressions refer to this Note and not to any particular Article, Section or other portion hereof and include any agreement supplemental hereto. Unless something in the subject matter or context is inconsistent
therewith, references herein to Articles and Sections are to Articles and Sections of this Note. 
  

	1.03	Canadian Dollar 

Unless otherwise specified, all references in this Note to “$” are to amounts in Canadian dollars. 

ARTICLE 2 – COVENANTS, REPRESENTATIONS AND WARRANTIES 

 

	2.01	Representations and Warranties 

 The Promisor represents and warrants to the Holder that as of the date hereof: 

(a) Corporate Status: The Promisor is duly organized, validly existing and in good standing under the laws of the jurisdiction of
its organization except where failure to do so would not have a material adverse affect on the Promisor. 
 (b) Power,
Authorization, Enforceable Obligations: The Promisor has the power and authority, and the legal right, to execute, deliver and perform the obligations in this Note. The Promisor has taken all necessary organizational action to authorize the
execution, delivery and performance of this Note. This Note has been duly executed and delivered by the Promisor. This Note constitutes a legal, valid and binding obligation of the Promisor, enforceable against it in accordance with its terms,
except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles (whether enforcement is sought
by proceedings in equity or at law). 

  
 UNSECURED
PROMISSORY NOTE – TRANCHE A 
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	2.02	Pari Passu Rank and Anti-Layering 

 This Note shall rank pari passu with all existing and future unsecured and unsubordinated indebtedness for borrowed money of the Promisor. The Promisor shall not, directly or indirectly, incur,
create, issue, assume, guarantee or otherwise become liable for any indebtedness for borrowed money that is senior in any respect in right of payment to this Note. The Promisor may, directly or indirectly, incur, create, issue, assume, guarantee or
otherwise become liable for any indebtedness for borrowed money pari passu in right of payment with, or subordinate in right of payment to, this Note. 
  

	2.03	Waiver 

 The
Promisor waives demand, presentment for payment, notice of dishonour, notice of acceleration, protest, and notice of protest of this Note. Without limiting the cure period set out in the definition of Event of Default or otherwise limiting any time
period expressly provided herein, the Promisor also waives the benefit of any days of grace and the right to assert in any action or proceeding with regards to this Note any setoffs or counterclaims which the Promisor may have against the Holder.

 ARTICLE 3 – INTEREST PAYMENTS, MANDATORY PAYMENTS AND PREPAYMENTS 

 

	3.01	Interest 

 Interest
shall accrue on the Principal Sum at the Interest Rate and shall be due and payable as part of each Scheduled Payment Amount on each Payment Date as set out in Schedule A. The amount, if any, by which the interest accrued as of a Payment Date
exceeds the Scheduled Payment Amount due on such Payment Date, shall be capitalized and added to the Principal Sum as set out in Schedule B. Interest shall accrue on the Principal Sum and any unpaid interest at the Interest Rate after as well as
before maturity and after as well as before default and judgment until such amount is paid in full. 
  

	3.02	Mandatory Payment 

The Promisor shall pay to the Holder the applicable Scheduled Payment Amount on each Payment Date. The Promisor shall make payment of any
Scheduled Payment Amount in cash or immediately available funds. 
  

	3.03	Voluntary Prepayment 

 (a) The Promisor may at any time from time to time prepay, without penalty, the whole or any part of the Principal Sum and interest then outstanding under this Note to the Holder provided (i) the
Promisor shall provide the Holder with 30 days prior notice of its intention to make a prepayment prior to such prepayment date, which notice shall include the identity of this Note, the amount of the prepayment and confirmation as to the amount, if
any, of such prepayment to be 

  
 UNSECURED
PROMISSORY NOTE – TRANCHE A 
 - 3 - 

 
applied to Scheduled Payment Amounts due on or prior to the date which is two years after the date such payment is due hereunder and the amount to be applied to the Scheduled Payment Amounts in
inverse order of maturity (the “Prepayment Notice”), (ii) such prepayment shall be due on the
30th day (or the first Business Day following such date to
the extent such date is not a Business Day) following the delivery of the Prepayment Notice. 
 (b) Each Prepayment Notice shall
also include a revised Schedule A setting out the revised Scheduled Payment Amounts together with a revised Schedule B, determined on a pro forma basis after giving effect to the applicable prepayment which shall be deemed to replace the Schedule A
and Schedule B as applicable then in effect as of the date the applicable prepayment is made unless the Holder disputes in writing all or any part of Schedule A and Schedule B within ten (10) days after the receipt thereof by the Holder. Upon
receipt by the Promisor of a notice of dispute, the Promisor and the Holder shall work in good faith with their respective advisors to settle on an agreed upon replacement Schedule A and Schedule B. If no agreement is reached then either the
Promisor or the Holder may seek resolution by arbitration pursuant to the Arbitration Act 1991, as amended, and the decision of any arbitrator appointed pursuant to the provisions of the Arbitration Act, 1991 shall be final and binding
on the parties hereto. The Scheduled Payment Amounts in Schedule A and the detailed payment information set out in Schedule B shall be recalculated in accordance with calculation principles set out in Section 3.03(c) below. 

(c) The parties agree that: 
  

	 	(i)	the Scheduled Payment Amounts and the interest component thereof are calculated based upon the Interest Rate and an assumed payment date of December 31 of each
year (notwithstanding that Scheduled Payment Amounts are due on each of the Payment Dates occurring in each of such years), 

  

	 	(ii)	the Scheduled Payment Amounts, including the interest component thereof, are calculated as if the original Principal Sum was outstanding from January 1, 2010, all
as set out in Schedule B hereto, 

  

	 	(iii)	if and when a prepayment is to be applied to any Scheduled Payment Amount that is due within the two year period following the date that such prepayment is made, the
Scheduled Payment Amount, or a portion thereof, shall be discounted at the Interest Rate from the assumed payment date of December 31 of the year that such Scheduled Payment Amount, or the portion thereof, was due to the date of such prepayment
for the purposes of determining the prepayment amount that shall satisfy the Scheduled Payment Amount, or the portion thereof, 

  

	 	(iv)	if and when a prepayment is to be applied to any Scheduled Payment Amount in inverse order of maturity, such prepayment shall be applied to the principal amount
outstanding as of the prepayment date and shall reduce interest accruing thereon from and after the date of such prepayment, and 

  
 UNSECURED
PROMISSORY NOTE – TRANCHE A 
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	 	(v)	each of the examples set out in Schedule C accurately reflects the manner in which Scheduled Payment Amounts in Schedule A and the detailed payment information in
Schedule B shall be re-determined under this Section 3.03 following a voluntary prepayment under this Section 3.03. 

 (d) The Promisor shall make any such prepayment in cash or immediately available funds. 
 (e) The Promisor shall compensate the Holder for any out of pocket expenses or actual damages (excluding, for greater certainty, lost profit or income) suffered by the Holder if the Promisor fails to make
a prepayment under clause (a) or (b) on the applicable prepayment date. 
  

	3.04	Withholding 

 In
respect of any payment of funds by the Promisor to the Holder under the terms of this Note, the Promisor shall withhold any and all applicable taxes (including all sales, premium, and any similar or successor taxes) imposed in respect of such
payments in accordance with applicable law or relevant administrative practice. The Promisor shall timely remit any such taxes to the relevant governmental authority in accordance with applicable law. All such withheld taxes shall be considered to
have been paid by the Promisor to the Holder for the purposes of this Note. 
  

	3.05	Payment Suspension 

Notwithstanding any other provision of this Note, if at any time and during such time as the Holder ceases to qualify as an ELHT under the
Income Tax Act (Canada), the payment of Scheduled Payment Amounts shall be suspended and interest shall not accrue on any Scheduled Payments Amounts that are not paid when due as a result of such suspension. Any such suspended Scheduled Payment
Amounts shall be due and payable on the fifth (5) Business Day following the date on which the Holder provides to the Promisor evidence satisfactory to the Promisor, acting reasonably, that the Holder has re-established its qualification as an
ELHT under the Income Tax Act (Canada). 
  

	3.06	Manner of Payment 

Payments of Scheduled Payments Amounts and voluntary prepayments of the Principal Sum permitted hereunder shall be made by the Promisor to
the Holder at the principal office of the Holder as set out in Section 5.03 or, at the written direction of Holder, by wire transfer to the account specified by the Holder in such direction; provided that, any such account is a “Chrysler
Separate Retiree Account” as defined in the Declaration of Trust dated December 7, 2010 with respect to the Holder. 

ARTICLE 4 – ACCELERATION 
 Upon the occurrence of an Event of Default, the Principal Sum and any interest accrued thereon, at the option of the Holder, upon the written declaration of the Holder delivered to the Promisor, shall be
immediately due and payable and upon such declaration the Note will become immediately enforceable. 

  
 UNSECURED
PROMISSORY NOTE – TRANCHE A 
 - 5 - 

 ARTICLE 5 – GENERAL 

 

	5.01	General 

 Any
waiver or consent by the Holder under any provision of this Note, including the waiver of an Event of Default, must be in writing and signed by the Holder. Any waiver or consent will be effective only in the instance and for the purpose for which it
is given. For the avoidance of doubt, neither the extension of time for making any payment which is due and payable under this Note at any time or times, nor the failure, delay or omission of the Holder to exercise or enforce any of its rights or
remedies under this Note, shall constitute a waiver by the Holder of its right to enforce any such rights and remedies subsequently. The single or partial exercise of any such right or remedy shall not preclude the Holder from further exercise of
such right or any other remedy. 
  

	5.02	Remedies Not Exclusive 

 No remedy herein conferred upon or reserved to the Holder is intended to be exclusive of any other remedy, but each and every such remedy will be cumulative and will be in addition to every other remedy
given hereunder or now existing or hereafter arising by law or by statute. 
  

	5.03	Notice 

 All
notices, requests and other communications to be given hereunder shall be given or made in writing (including, without limitation, by telecopy) delivered to the intended recipient at the address for notices specified below; or, as to any party, at
such other address as shall be designated by such party in a written notice to each other party. All such communications shall be deemed to have been duly given (i) if mailed, on the fifth Business Day following such mailing, (ii) if
delivered on the date of delivery, and (iii) if sent by facsimile transmission, on the next following Business Day, in each case given or addressed as aforesaid: 
  

	 	(a)	to the Promisor at: 

 Chrysler
Canada Inc. 
 1 Riverside Drive West 
 Windsor, Ontario 
 N9A 4H6 

Attention: General Counsel 
 Facsimile: [***] 

  
 UNSECURED
PROMISSORY NOTE – TRANCHE A 
 - 6 - 

 

	***	Certain information in this agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and
is the subject of a confidential treatment request. 

 With a copy to: 
 Chrysler Group LLC 
 1000 Chrysler Drive 

Auburn Hills, MI 48326 
 CIMS 485-12-78 
  

			
	Attention:	 	Head of Treasury Compliance and Controls
	Facsimile:	 	[***]

  

	 	(b)	to the Holder at: 

 Auto Sector
Retiree Health Care Trust 
 Care of Koskie Minsky LLP 
 20 Queen Street West 
 Suite 900, Box 52 

Toronto, Ontario 

M5H 3R3 
  

			
	Facsimile No.:	 	[***]
	Attention:	 	Gordon Graham, Executive Director
	Copy:	 	Murray Gold

 Either party may from time to time notify the
other in writing of a change in address or facsimile number, as the case may be. 
  

	5.04	Severability 

 If
any term, covenant, obligation, agreement or other provision contained in this Note, or the application thereof to any person or circumstance will, to any extent, be invalid or unenforceable, the remainder of this Note or the application of such
term, covenant, obligation, agreement or other provision to persons or circumstances other than those as to which it is held invalid or unenforceable, will not be affected thereby and each term, covenant, obligation, agreement or other provision
herein contained will be separately valid and enforceable to the fullest extent permitted by law. 
  

	5.05	Governing Law 

This Note will be governed and interpreted in accordance with the laws of the Province of Ontario and the laws of Canada applicable
therein. 

  
 UNSECURED
PROMISSORY NOTE – TRANCHE A 
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	***	Certain information in this agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and
is the subject of a confidential treatment request. 

	5.06	Interpretation 

Grammatical variations of any terms defined herein have similar meanings; words importing the singular will include the plural and vice
versa; words importing the masculine gender will include the feminine and neuter genders. 
  

	5.07	Entire Agreement 

This Note (including, for greater certainty, Schedules A, B and C as the same may be replaced from time in accordance with the terms
hereof) constitutes the entire agreement between the Holder and the Promisor relating to the subject matter hereof. 
  

	5.08	Amendments 

 If
requested by the Promisor subsequent to the date of issue of this Note, the Holder may, if the Holder so desires: (i) agree to any amendment, modification, abrogation, alteration, compromise or arrangement of the Holder’s rights against
the Promisor, whether such rights arise under this Note or otherwise; and (ii) assent to any amendment, modification of or change in or addition to or omission from the provisions contained in this Note. Any such agreement or assent shall only
be effective if made in writing and signed by the Holder and the Promisor. 
  

	5.09	Enurement 

 This
Note shall enure to the benefit of the Holder and its administrators and successors and shall be binding upon the Promisor and it successors. This Note is not assignable by either the Holder nor the Promisor. 

 

	5.10	Expenses 

 Promisor
shall promptly pay, or reimburse the Holder for, all fees and disbursements of any professional or expert advisors, including without limitation, court costs and legal fees on a substantive indemnity basis, incurred in connection with the
enforcement of this Note. 
  

	5.11	Counterparts 

 This
Note may be executed in any number of counterparts, each of which will be deemed to be an original and all of which taken together will be deemed to constitute one and the same instrument. 

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

  
 UNSECURED
PROMISSORY NOTE – TRANCHE A 
 - 8 - 

 IN WITNESS WHEREOF, each of the undersigned has caused this Note to be executed (in
the case of the Promisor only, under its corporate seal), by its duly authorized officer or Trustees, as applicable, and to be dated as of the date first set forth above. 

 

			
	CHRYSLER CANADA INC.
		
		 	 /s/ Walter P. Bodden Jr.
  

	By:	 	Name:
		 	Title:

  
 UNSECURED
PROMISSORY NOTE – TRANCHE A 

 
			
	ANDREW SMITH and PETER KENNEDY, each in their capacity as Trustees of the AUTO SECTOR RETIREE HEALTH CARE TRUST
		
		 	 /s/ Andrew Smith
  

	By:	 	Name: ANDREW SMITH
		 	Title: TRUSTEE
		
		 	 /s/ Peter Kennedy
  

	By:	 	Name: PETER KENNEDY
		 	Title: TRUSTEE, CHAIR

  
 UNSECURED
PROMISSORY NOTE – TRANCHE A 

 SCHEDULE A 
 TRANCHE A NOTE 
 SCHEDULED PAYMENT AMOUNTS 

 

					
	 Payment Date
	  	Scheduled Payment Amount	 
	 December 31, 2010
	  	$	10,000,000	  
	 June 30, 2011
	  	$	10,000,000	  
	 June 30, 2012
	  	$	10,000,000	  
	 June 30, 2013
	  	$	126,380,544	  
	 June 30, 2014
	  	$	126,380,544	  
	 June 30, 2015
	  	$	126,380,544	  
	 June 30, 2016
	  	$	126,380,544	  
	 June 30, 2017
	  	$	126,380,544	  

  
 UNSECURED
PROMISSORY NOTE – TRANCHE A 

 SCHEDULE B 
 TRANCHE A NOTE 
 CALCULATION OF THE SCHEDULED PAYMENT AMOUNTS

  

					
	 Original Principal Sum
	  	$	404,900,000	  
		  	 	 	 
	 Interest Rate
	  	 	9.00	% 
		  	 	 	 

 Calculation Principles: 
 The Scheduled Payments Amounts and interest are calculated on the basis of an assumed payment date of December 31 of each year. 

In addition, interest is calculated from January 1, 2010 as if the Principal Sum were outstanding as of such date. 

Once calculated all Scheduled Payment Amounts are required to be paid on the Payment Date. 

 

																													
	 	  	Principal Sum
Beginning
Balance	 	  	  	 	  	  	 	  	  	 	  	 	 	 	Principal Sum
Ending
Balance	 	  	memo:
Total Interest
Expense	 
	 	  	  	Scheduled Payment Amount	 	  	Capitalized
Interest	 	 	  
	 	  	  	Total	 	  	Principal	 	  	Interest	 	  	 	  
	 	  	A	 	  	B+C	 	  	B	 	  	C	 	  	D=E-C	 	 	A-B+D	 	  	E=A*9%	 
	 2010
	  	$	404,900,000	  	  	$	10,000,000	  	  	 	—  	  	  	$	10,000,000	  	  	$	26,441,000	  	 	$	431,341,000	  	  	$	36,441,000	  
	 2011
	  	 	431,341,000	  	  	 	10,000,000	  	  	 	—  	  	  	 	10,000,000	  	  	 	28,820,690	  	 	 	460,161,690	  	  	 	38,820,690	  
	 2012
	  	 	460,161,690	  	  	 	10,000,000	  	  	 	—  	  	  	 	10,000,000	  	  	 	31,414,552	  	 	 	491,576,242	  	  	 	41,414,552	  
	 2013
	  	 	491,576,242	  	  	 	126,380,544	  	  	 	—  	  	  	 	126,380,544	  	  	 	(82,138,682	) 	 	 	409,437,560	  	  	 	44,241,862	  
	 2014
	  	 	409,437,560	  	  	 	126,380,544	  	  	$	84,993,604	  	  	 	41,386,940	  	  	 	(4,537,560	) 	 	 	319,906,396	  	  	 	36,849,380	  
	 2015
	  	 	319,906,396	  	  	 	126,380,544	  	  	 	97,588,968	  	  	 	28,791,576	  	  	 	—  	  	 	 	222,317,428	  	  	 	28,791,576	  
	 2016
	  	 	222,317,428	  	  	 	126,380,544	  	  	 	106,371,975	  	  	 	20,008,569	  	  	 	—  	  	 	 	115,945,453	  	  	 	20,008,569	  
	 2017
	  	 	115,945,453	  	  	 	126,380,544	  	  	 	115,945,453	  	  	 	10,435,091	  	  	 	—  	  	 	 	—  	  	  	 	10,435,091	  

 SCHEDULE C.I 
 TRANCHE A NOTE 
 SAMPLE RE-CALCULATION OF THE SCHEDULED PAYMENT
AMOUNTS UNDER SECTION 3.03 
  

					
	 Original Principal Sum
	  	$	404,900,000	  
		  	 	 	 
	 Interest Rate
	  	 	9.00	% 
		  	 	 	 
	 Prepayment Amount
	  	$	100,000,000	  
		  	 	 	 
	 Prepayment Date
	  	 	January 1, 2013	  
		  	 	 	 

 Calculation Principles: 
 The Scheduled Payments Amounts and interest are calculated on the basis of an assumed payment date of December 31 of each year. 

In addition, interest is calculated from January 1, 2010 as if the Principal Sum were outstanding as of such date. 

Once calculated all Scheduled Payment Amounts are required to be paid on the Payment Date. 

Prepayment Assumptions: 
 The
Prepayment Amount will reduce the Principal Sum outstanding on the Prepayment Date and will be applied to the Scheduled Payment Amounts in inverse order of maturity. 
  

																																	
	 	  	Principal Sum
Beginning
Balance	 	  	 	 	  	  	 	  	  	 	  	  	 	  	 	 	 	Principal Sum
Ending
Balance	 	  	memo:
Total Interest
Expense	 
	 	  	  	Prepayment
Amount	 	  	Scheduled Payment Amount	 	  	Capitalized
Interest	 	 	  
	 	  	  	  	Total	 	  	Principal	 	  	Interest	 	  	 	  
	 	  	A	 	  	B	 	  	C+D	 	  	C	 	  	D	 	  	E=F-D	 	 	A-B-C+E	 	  	F=(A-B)*9%	 
	 2010
	  	$	404,900,000	  	  	 	—  	  	  	$	10,000,000	  	  	 	—  	  	  	$	10,000,000	  	  	$	26,441,000	  	 	$	431,341,000	  	  	$	36,441,000	  
	 2011
	  	 	431,341,000	  	  	 	—  	  	  	 	10,000,000	  	  	 	—  	  	  	 	10,000,000	  	  	 	28,820,690	  	 	 	460,161,690	  	  	 	38,820,690	  
	 2012
	  	 	460,161,690	  	  	 	—  	  	  	 	10,000,000	  	  	 	—  	  	  	 	10,000,000	  	  	 	31,414,552	  	 	 	491,576,242	  	  	 	41,414,552	  
	 2013
	  	 	491,576,242	  	  	$	100,000,000	  	  	 	126,380,544	  	  	$	4,462,440	  	  	 	121,918,104	  	  	 	(86,676,242	) 	 	 	300,437,560	  	  	 	35,241,862	  
	 2014
	  	 	300,437,560	  	  	 	—  	  	  	 	126,380,544	  	  	 	99,341,164	  	  	 	27,039,380	  	  	 	—  	  	 	 	201,096,396	  	  	 	27,039,380	  
	 2015
	  	 	201,096,396	  	  	 	—  	  	  	 	126,380,544	  	  	 	108,281,868	  	  	 	18,098,676	  	  	 	—  	  	 	 	92,814,528	  	  	 	18,098,676	  
	 2016
	  	 	92,814,528	  	  	 	—  	  	  	 	101,167,836	  	  	 	92,814,528	  	  	 	8,353,308	  	  	 	—  	  	 	 	—  	  	  	 	8,353,308	  
	 2017
	  	 	—  	  	  	 	—  	  	  	 	—  	  	  	 	—  	  	  	 	—  	  	  	 	—  	  	 	 	—  	  	  	 	—  	  

 SCHEDULE C.II 

TRANCHE A NOTE 
 SAMPLE RE-CALCULATION OF THE SCHEDULED PAYMENT AMOUNTS UNDER SECTION 3.03 
  

					
	 Original Principal Sum
	  	$	404,900,000	  
		  	 	 	 
	 Interest Rate
	  	 	9.00	% 
		  	 	 	 
	 Prepayment Amount
	  	$	222,317,429	  
		  	 	 	 
	 Prepayment Date
	  	 	January 1, 2013	  
		  	 	 	 

 Calculation Principles: 
 The Scheduled Payments Amounts and interest are calculated on the basis of an assumed payment date of December 31 of each year. 

In addition, interest is calculated from January 1, 2010 as if the Principal Sum were outstanding as of such date. 

Once calculated all Scheduled Payment Amounts are required to be paid on the Payment Date. 

Prepayment Assumptions: 
 The
Prepayment Amount will reduce the Principal Sum outstanding on the Prepayment Date and will be applied to the Scheduled Payment Amounts due on or prior to the date which is two years after the Prepayment Date. 

 

																																	
	 	  	Principal Sum
Beginning
Balance	 	  	 	 	  	  	 	  	  	 	  	  	 	  	 	 	 	Principal Sum
Ending
Balance	 	  	memo:
Total Interest
Expense	 
	 	  	  	Prepayment
Amount	 	  	Scheduled Payment Amount	 	  	Capitalized
Interest	 	 	  
	 	  	  	  	Total	 	  	Principal	 	  	Interest	 	  	 	  
	 	  	A	 	  	B	 	  	C+D	 	  	C	 	  	D	 	  	E=F-D	 	 	A-B-C+E	 	  	F=(A-B)*9%	 
	 2010
	  	$	404,900,000	  	  	 	—  	  	  	$	10,000,000	  	  	 	—  	  	  	$	10,000,000	  	  	$	26,441,000	  	 	$	431,341,000	  	  	$	36,441,000	  
	 2011
	  	 	431,341,000	  	  	 	—  	  	  	 	10,000,000	  	  	 	—  	  	  	 	10,000,000	  	  	 	28,820,690	  	 	 	460,161,690	  	  	 	38,820,690	  
	 2012
	  	 	460,161,690	  	  	 	—  	  	  	 	10,000,000	  	  	 	—  	  	  	 	10,000,000	  	  	 	31,414,552	  	 	 	491,576,242	  	  	 	41,414,552	  
	 2013
	  	 	491,576,242	  	  	$	222,317,429	  	  	 	—  	  	  	 	—  	  	  	 	—  	  	  	 	24,233,293	  	 	 	293,492,106	  	  	 	24,233,293	  
	 2014
	  	 	293,492,106	  	  	 	—  	  	  	 	—  	  	  	 	—  	  	  	 	—  	  	  	 	26,414,290	  	 	 	319,906,396	  	  	 	26,414,290	  
	 2015
	  	 	319,906,396	  	  	 	—  	  	  	 	126,380,544	  	  	 	—  	  	  	 	126,380,544	  	  	 	(97,588,968	) 	 	 	222,317,428	  	  	 	28,791,576	  
	 2016
	  	 	222,317,428	  	  	 	—  	  	  	 	126,380,544	  	  	$	66,637,118	  	  	 	59,743,426	  	  	 	(39,734,857	) 	 	 	115,945,453	  	  	 	20,008,569	  
	 2017
	  	 	115,945,453	  	  	 	—  	  	  	 	126,380,544	  	  	 	115,945,453	  	  	 	10,435,091	  	  	 	—  	  	 	 	—  	  	  	 	10,435,091	  

 SCHEDULE C.III 

TRANCHE A NOTE 
 SAMPLE RE-CALCULATION OF THE SCHEDULED PAYMENT AMOUNTS UNDER SECTION 3.03 
  

					
	 Original Principal Sum
	  	$	404,900,000	  
		  	 	 	 
	 Interest Rate
	  	 	9.00	% 
		  	 	 	 
	 Prepayment Amount
	  	$	272,317,429	  
		  	 	 	 
	 Prepayment Date
	  	 	January 1, 2013	  
		  	 	 	 

 Calculation Principles: 
 The Scheduled Payments Amounts and interest are calculated on the basis of an assumed payment date of December 31 of each year. 

In addition, interest is calculated from January 1, 2010 as if the Principal Sum were outstanding as of such date. 

Once calculated all Scheduled Payment Amounts are required to be paid on the Payment Date. 

Prepayment Assumptions: 
 The
Prepayment Amount will reduce the Principal Sum outstanding on the Prepayment Date and will be applied to the Scheduled Payment Amounts due on or prior to the date which is two years after the Prepayment Date and to the Scheduled Payment Amounts in
inverse order of maturity. 
  

																																	
	 	  	Principal Sum
Beginning
Balance	 	  	 	 	  	  	 	  	  	 	  	  	 	  	 	 	 	Principal Sum
Ending
Balance	 	  	memo:
Total Interest
Expense	 
	 	  	  	Prepayment	 	  	Scheduled Payment Amount	 	  	Capitalized
Interest	 	 	  
	 	  	  	Amount	 	  	Total	 	  	Principal	 	  	Interest	 	  	 	  
	 	  	A	 	  	B	 	  	C+D	 	  	C	 	  	D	 	  	E=F-D	 	 	A-B-C+E	 	  	F=(A-B)*9%	 
	 2010
	  	$	404,900,000	  	  	 	—  	  	  	$	10,000,000	  	  	 	—  	  	  	$	10,000,000	  	  	$	26,441,000	  	 	$	431,341,000	  	  	$	36,441,000	  
	 2011
	  	 	431,341,000	  	  	 	—  	  	  	 	10,000,000	  	  	 	—  	  	  	 	10,000,000	  	  	 	28,820,690	  	 	 	460,161,690	  	  	 	38,820,690	  
	 2012
	  	 	460,161,690	  	  	 	—  	  	  	 	10,000,000	  	  	 	—  	  	  	 	10,000,000	  	  	 	31,414,552	  	 	 	491,576,242	  	  	 	41,414,552	  
	 2013
	  	 	491,576,242	  	  	$	272,317,429	  	  	 	—  	  	  	 	—  	  	  	 	—  	  	  	 	19,733,293	  	 	 	238,992,106	  	  	 	19,733,293	  
	 2014
	  	 	238,992,106	  	  	 	—  	  	  	 	—  	  	  	 	—  	  	  	 	—  	  	  	 	21,509,290	  	 	 	260,501,396	  	  	 	21,509,290	  
	 2015
	  	 	260,501,396	  	  	 	—  	  	  	 	126,380,544	  	  	 	—  	  	  	 	126,380,544	  	  	 	(102,935,418	) 	 	 	157,565,978	  	  	 	23,445,126	  
	 2016
	  	 	157,565,978	  	  	 	—  	  	  	 	126,380,544	  	  	$	87,216,199	  	  	 	39,164,345	  	  	 	(24,983,407	) 	 	 	45,366,372	  	  	 	14,180,938	  
	 2017
	  	 	45,366,372	  	  	 	—  	  	  	 	49,449,345	  	  	 	45,366,372	  	  	 	4,082,973	  	  	 	—  	  	 	 	—  	  	  	 	4,082,973Unsecured Promissory Note--Tranche B, dated December 31, 2010

 Exhibit 10.16 
 UNSECURED PROMISSORY NOTE – TRANCHE B 
 CHRYSLER CANADA INC.

 9.0% Fixed Rate Note due June 30, 2024 

 

			
	$404,900,000	  	Dated: December 31, 2010

CHRYSLER CANADA INC. (the “Promisor”), for value received, hereby acknowledges itself indebted and promises to
pay to or to the order of the Trustees, in their capacity as trustees of AUTO SECTOR RETIREE HEALTH CARE TRUST (and their successors, collectively, the “Holder”) on each Payment Date the applicable Scheduled Payment
Amount in accordance with the terms hereof as set out in Schedule A hereto (as the same may be amended or replaced in accordance with the terms hereof). 
 ARTICLE 1 – GENERAL 
  

	1.01	Definitions 

 In
this Note, unless expressly stated otherwise, the following terms will have the meanings set out below: 
 “Business Day” means
a day other than a Saturday, Sunday or a day on which banks are permitted to close in Toronto, Ontario. 
 “ELHT” means an
“employee life and health trust” within the meaning of the Income Tax Act (Canada). 
 “Event of Default” means the
failure by the Promisor to make payment of any Scheduled Payment Amount when due and payable and such default is continuing five (5) Business Days after receipt by the Promisor of written notice thereof. 

“Interest Rate” means 9.0% per annum calculated on the basis of a 365 or 366 day year as applicable. 

“Maturity Date” means June 30, 2024. 
 “Note” means this promissory note (including Schedules A, B and C), as it may be amended, supplemented, restated, replaced or otherwise modified from time to time in writing. 

“Person” or “person” means an individual, a partnership, a corporation, a government or any department or agency
thereof, a trustee and any unincorporated organization; and words importing person have similar meanings. 
 “Payment Date”
means the dates set out in Schedule A hereto, and in the event a Payment Date occurs on a date that is not a Business Day, the Payment Date shall be deemed to be the next immediately following Business Day. 

  
 UNSECURED
PROMISSORY NOTE – TRANCHE B 

  

	***	Certain information in this agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and
is the subject of a confidential treatment request. 

 “Principal Sum” means the principal amount outstanding and owed by the Promisor to the
Holder hereunder being $404,900,000 as of the date hereof, as adjusted from time to time in accordance with Schedule B following payment of each Scheduled Payment Amount hereunder or any prepayment made under Section 3.03. 

“Scheduled Payment Amount” means the annual blended payments of principal and interest as set out in Schedule A attached hereto for each
respective Payment Date. 
 “Trustees” means Michael B. Decter, Helen E. Stevenson, Andrew Smith, Randolph Brent McGlynn,
Sandra Dudley, Peter Kennedy, Sym Gill, Jeffrey A. Wareham, Lewis Gottheil and Jo-Ann Hannah and any other Person appointed from time to time as a Trustee of Auto Sector Retiree Health Care Trust. 

 

	1.02	Headings 

 The
division of this Note into Articles and Sections and the insertion of headings are for convenience of reference only and shall not affect the construction or interpretation of this Note. The terms “this Note”, “hereof”,
“hereunder” and similar expressions refer to this Note and not to any particular Article, Section or other portion hereof and include any agreement supplemental hereto. Unless something in the subject matter or context is inconsistent
therewith, references herein to Articles and Sections are to Articles and Sections of this Note. 
  

	1.03	Canadian Dollar 

Unless otherwise specified, all references in this Note to “$” are to amounts in Canadian dollars. 

ARTICLE 2 – COVENANTS, REPRESENTATIONS AND WARRANTIES 

 

	2.01	Representations and Warranties 

 The Promisor represents and warrants to the Holder that as of the date hereof: 

(a) Corporate Status: The Promisor is duly organized, validly existing and in good standing under the laws of the jurisdiction of
its organization except where failure to do so would not have a material adverse affect on the Promisor. 
 (b) Power,
Authorization, Enforceable Obligations: The Promisor has the power and authority, and the legal right, to execute, deliver and perform the obligations in this Note. The Promisor has taken all necessary organizational action to authorize the
execution, delivery and performance of this Note. This Note has been duly executed and delivered by the Promisor. This Note constitutes a legal, valid and binding obligation of the Promisor, enforceable against it in accordance with its terms,
except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles (whether enforcement is sought
by proceedings in equity or at law). 

  
 UNSECURED
PROMISSORY NOTE – TRANCHE B 
 - 2 - 

	2.02	Pari Passu Rank and Anti-Layering 

 This Note shall rank pari passu with all existing and future unsecured and unsubordinated indebtedness for borrowed money of the Promisor. The Promisor shall not, directly or indirectly, incur,
create, issue, assume, guarantee or otherwise become liable for any indebtedness for borrowed money that is senior in any respect in right of payment to this Note. The Promisor may, directly or indirectly, incur, create, issue, assume, guarantee or
otherwise become liable for any indebtedness for borrowed money pari passu in right of payment with, or subordinate in right of payment to, this Note. 
  

	2.03	Waiver 

 The
Promisor waives demand, presentment for payment, notice of dishonour, notice of acceleration, protest, and notice of protest of this Note. Without limiting the cure period set out in the definition of Event of Default or otherwise limiting any time
period expressly provided herein, the Promisor also waives the benefit of any days of grace and the right to assert in any action or proceeding with regards to this Note any setoffs or counterclaims which the Promisor may have against the Holder.

 ARTICLE 3 – INTEREST PAYMENTS, MANDATORY PAYMENTS AND PREPAYMENTS 

 

	3.01	Interest 

 Interest
shall accrue on the Principal Sum at the Interest Rate and shall be due and payable as part of each Scheduled Payment Amount on each Payment Date as set out in Schedule A. The amount, if any, by which the interest accrued as of a Payment Date
exceeds the Scheduled Payment Amount due on such Payment Date, shall be capitalized and added to the Principal Sum as set out in Schedule B. Interest shall accrue on the Principal Sum and any unpaid interest at the Interest Rate after as well as
before maturity and after as well as before default and judgment until such amount is paid in full. 
  

	3.02	Mandatory Payment 

The Promisor shall pay to the Holder the applicable Scheduled Payment Amount on each Payment Date. The Promisor shall make payment of any
Scheduled Payment Amount in cash or immediately available funds. 
  

	3.03	Voluntary Prepayment 

 (a) The Promisor shall have no right to prepay the whole or any part of the Principal Sum and interest under this Note prior to June 30, 2017 without the consent of the Holder (the “Lock-Out
Period”). Where consent to a prepayment is requested hereunder by the Promisor during the Lock-Out Period such request shall be made in writing to the Holder and shall include the identity of this Note, the amount of the prepayment and
confirmation as to the amount, if any, of such prepayment to be applied to Scheduled Payment Amounts due on or prior to the date which is 

  
 UNSECURED
PROMISSORY NOTE – TRANCHE B 
 - 3 - 

 
two years after the date such payment is due hereunder and the amount to be applied to the Scheduled Payment Amounts in inverse order of maturity (the “Prepayment Consent
Request”) . The Holder shall give written notice of its decision whether or not to grant such consent to the Promisor within 30 days following receipt of a Prepayment Consent Request (where such consent is granted by the Holder, the
“Prepayment Consent Notice”). If no Prepayment Consent Notice is provided by the Holder, the Holder shall be deemed not to have provided consent to the prepayment. If the Promisor receives a Prepayment Consent Notice, the applicable
prepayment shall be due on the 60th day following the date
of the Prepayment Consent Request (or the first Business Day following such date to the extent such date is not a Business Day). Any consent granted by the Holder with respect to a Prepayment Consent Request shall be deemed to be withdrawn if the
applicable prepayment shall not be made by the Promisor on the date when due. 
 (b) At any time following
the expiry of the Lock-Out Period, the Promisor may at any time from time to time thereafter prepay, without penalty, the whole or any part of the Principal Sum and interest then outstanding under this Note to the Holder provided (i) the
Promisor shall provide the Holder with 30 days prior notice of its intention to make a prepayment prior to such prepayment date, which notice shall include the identity of this Note, the amount of the prepayment and confirmation as to the amount, if
any, of such prepayment to be applied to Scheduled Payment Amounts due on or prior to the date which is two years after the date such payment is due hereunder and the amount to be applied to the Scheduled Payment Amounts in inverse order of maturity
(the “Prepayment Notice”), (ii) such prepayment shall be due on the 30th day (or the first Business Day following such date to the extent such date is not a Business Day) following the delivery of the Prepayment Notice. 

(c) Each Prepayment Notice or Prepayment Consent Request, as applicable, shall also include a revised Schedule A setting out the revised
Scheduled Payment Amounts together with a revised Schedule B, determined on a pro forma basis after giving effect to the applicable prepayment which shall be deemed to replace the Schedule A and Schedule B as applicable then in effect as of the date
the applicable prepayment is made unless the Holder disputes in writing all or any part of Schedule A and Schedule B within ten (10) days after the receipt thereof by the Holder. Upon receipt by the Promisor of a notice of dispute, the Promisor
and the Holder shall work in good faith with their respective advisors to settle on an agreed upon replacement Schedule A and Schedule B. If no agreement is reached then either the Promisor or the Holder may seek resolution by arbitration pursuant
to the Arbitration Act 1991, as amended, and the decision of any arbitrator appointed pursuant to the provisions of the Arbitration Act, 1991 shall be final and binding on the parties hereto. The Scheduled Payment Amounts in Schedule A
and the detailed payment information set out in Schedule B shall be recalculated in accordance with calculation principles set out in Section 3.03(d) below. 
 (d) The parties agree that: 
  

	 	(i)	the Scheduled Payment Amounts and the interest component thereof are calculated based upon the Interest Rate and an assumed payment date of December 31 of each
year (notwithstanding that Scheduled Payment Amounts are due on each of the Payment Dates occurring in each of such years), 

  
 UNSECURED
PROMISSORY NOTE – TRANCHE B 
 - 4 - 

	 	(ii)	the Scheduled Payment Amounts, including the interest component thereof, are calculated as if the original Principal Sum was outstanding from January 1, 2010, all
as set out in Schedule B hereto, 

  

	 	(iii)	if and when a prepayment is to be applied to any Scheduled Payment Amount that is due within the two year period following the date that such prepayment is made, the
Scheduled Payment Amount, or a portion thereof, shall be discounted at the Interest Rate from the assumed payment date of December 31 of the year that such Scheduled Payment Amount, or the portion thereof, was due to the date of such prepayment
for the purposes of determining the prepayment amount that shall satisfy the Scheduled Payment Amount, or the portion thereof, 

  

	 	(iv)	if and when a prepayment is to be applied to any Scheduled Payment Amount in inverse order of maturity, such prepayment shall be applied to the principal amount
outstanding as of the prepayment date and shall reduce interest accruing thereon from and after the date of such prepayment, and 

  

	 	(v)	each of the examples set out in Schedule C accurately reflects the manner in which Scheduled Payment Amounts in Schedule A and the detailed payment information in
Schedule B shall be re-determined under this Section 3.03 following a voluntary prepayment under this Section 3.03. 

 (e) The Promisor shall make any such prepayment in cash or immediately available funds. 
 (f) The Promisor shall compensate the Holder for any out of pocket expenses or actual damages (excluding, for greater certainty, lost profit or income) suffered by the Holder if the Promisor fails to make
a prepayment under clause (a) or (b) on the applicable prepayment date. 
  

	3.04	Withholding 

 In
respect of any payment of funds by the Promisor to the Holder under the terms of this Note, the Promisor shall withhold any and all applicable taxes (including all sales, premium, and any similar or successor taxes) imposed in respect of such
payments in accordance with applicable law or relevant administrative practice. The Promisor shall timely remit any such taxes to the relevant governmental authority in accordance with applicable law. All such withheld taxes shall be considered to
have been paid by the Promisor to the Holder for the purposes of this Note. 
  

	3.05	Payment Suspension 

Notwithstanding any other provision of this Note, if at any time and during such time as the Holder ceases to qualify as an ELHT under the
Income Tax Act (Canada), the payment of Scheduled Payment Amounts shall be suspended and interest shall not accrue on any Scheduled Payments Amounts that are not paid when due as a result of such suspension. Any such suspended Scheduled Payment
Amounts shall be due and payable on the fifth (5) Business Day following the 

  
 UNSECURED
PROMISSORY NOTE – TRANCHE B 
 - 5 - 

 
date on which the Holder provides to the Promisor evidence satisfactory to the Promisor, acting reasonably, that the Holder has re-established its qualification as an ELHT under the Income Tax
Act (Canada). 
  

	3.06	Manner of Payment 

 Payments of
Scheduled Payments Amounts and voluntary prepayments of the Principal Sum permitted hereunder shall be made by the Promisor to the Holder at the principal office of the Holder as set out in Section 5.03 or, at the written direction of Holder,
by wire transfer to the account specified by the Holder in such direction; provided that, any such account is a “Chrysler Separate Retiree Account” as defined in the Declaration of Trust dated December 7, 2010 with respect to the
Holder. 
 ARTICLE 4 – ACCELERATION 

Upon the occurrence of an Event of Default, the Principal Sum and any interest accrued thereon, at the option of the Holder, upon the
written declaration of the Holder delivered to the Promisor, shall be immediately due and payable and upon such declaration the Note will become immediately enforceable. 
 ARTICLE 5 – GENERAL 
  

	5.01	General 

 Any
waiver or consent by the Holder under any provision of this Note, including the waiver of an Event of Default, must be in writing and signed by the Holder. Any waiver or consent will be effective only in the instance and for the purpose for which it
is given. For the avoidance of doubt, neither the extension of time for making any payment which is due and payable under this Note at any time or times, nor the failure, delay or omission of the Holder to exercise or enforce any of its rights or
remedies under this Note, shall constitute a waiver by the Holder of its right to enforce any such rights and remedies subsequently. The single or partial exercise of any such right or remedy shall not preclude the Holder from further exercise of
such right or any other remedy. 
  

	5.02	Remedies Not Exclusive 

 No remedy herein conferred upon or reserved to the Holder is intended to be exclusive of any other remedy, but each and every such remedy will be cumulative and will be in addition to every other remedy
given hereunder or now existing or hereafter arising by law or by statute. 
  

	5.03	Notice 

 All
notices, requests and other communications to be given hereunder shall be given or made in writing (including, without limitation, by telecopy) delivered to the intended recipient at the address for notices specified below; or, as to any party, at
such other address as shall be 

  
 UNSECURED
PROMISSORY NOTE – TRANCHE B 
 - 6 - 

 
designated by such party in a written notice to each other party. All such communications shall be deemed to have been duly given (i) if mailed, on the fifth Business Day following such
mailing, (ii) if delivered, on the date of delivery, and (iii) if sent by facsimile transmission, on the next following Business Day, in each case given or addressed as aforesaid: 

 

	 	(a)	to the Promisor at: 

 Chrysler
Canada Inc. 
 1 Riverside Drive West 
 Windsor, Ontario 
 N9A 4H6 

 

			
	Attention:	  	General Counsel
	Facsimile:	  	[***]

 With a copy to: 

Chrysler Group LLC 
 1000 Chrysler Drive 
 Auburn Hills, MI 48326 

CIMS 485-12-78 
  

			
	Attention:	  	Head of Treasury Compliance and Controls
	Facsimile:	  	[***]

  

	 	(b)	to the Holder at: 

 Auto Sector
Retiree Health Care Trust 
 Care of Koskie Minsky LLP 
 20 Queen Street West 
 Suite 900, Box 52 

Toronto, Ontario 

M5H 3R3 
  

			
	 Facsimile No.:
	 	[***]
	 Attention:
	 	Gordon Graham, Executive Director
	 Copy:
	 	Murray Gold

 Either party may from time to time notify the
other in writing of a change in address or facsimile number, as the case may be. 
  

	5.04	Severability 

 If
any term, covenant, obligation, agreement or other provision contained in this Note, or the application thereof to any person or circumstance will, to any extent, be invalid or 

  
 UNSECURED
PROMISSORY NOTE – TRANCHE B 
 - 7 - 

  

	***	Certain information in this agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and
is the subject of a confidential treatment request. 

 
unenforceable, the remainder of this Note or the application of such term, covenant, obligation, agreement or other provision to persons or circumstances other than those as to which it is held
invalid or unenforceable, will not be affected thereby and each term, covenant, obligation, agreement or other provision herein contained will be separately valid and enforceable to the fullest extent permitted by law. 

 

	5.05	Governing Law 

This Note will be governed and interpreted in accordance with the laws of the Province of Ontario and the laws of Canada applicable
therein. 
  

	5.06	Interpretation 

Grammatical variations of any terms defined herein have similar meanings; words importing the singular will include the plural and vice
versa; words importing the masculine gender will include the feminine and neuter genders. 
  

	5.07	Entire Agreement 

This Note (including, for greater certainty, Schedules A, B and C as the same may be replaced from time in accordance with the terms
hereof) constitutes the entire agreement between the Holder and the Promisor relating to the subject matter hereof. 
  

	5.08	Amendments 

 If
requested by the Promisor subsequent to the date of issue of this Note, the Holder may, if the Holder so desires: (i) agree to any amendment, modification, abrogation, alteration, compromise or arrangement of the Holder’s rights against
the Promisor, whether such rights arise under this Note or otherwise; and (ii) assent to any amendment, modification of or change in or addition to or omission from the provisions contained in this Note. Any such agreement or assent shall only
be effective if made in writing and signed by the Holder and the Promisor. 
  

	5.09	Enurement 

 This
Note shall enure to the benefit of the Holder and its administrators and successors and shall be binding upon the Promisor and it successors. This Note is not assignable by either the Holder nor the Promisor. 

 

	5.10	Expenses 

 Promisor
shall promptly pay, or reimburse the Holder for, all fees and disbursements of any professional or expert advisors, including without limitation, court costs and legal fees on a substantive indemnity basis, incurred in connection with the
enforcement of this Note. 

  
 UNSECURED
PROMISSORY NOTE – TRANCHE B 
 - 8 - 

	5.11	Counterparts 

 This
Note may be executed in any number of counterparts, each of which will be deemed to be an original and all of which taken together will be deemed to constitute one and the same instrument. 

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

  
 UNSECURED
PROMISSORY NOTE – TRANCHE B 
 - 9 - 

 IN WITNESS WHEREOF, each of the undersigned has caused this Note to be executed (in
the case of the Promisor only, under its corporate seal), by its duly authorized officer or Trustees, as applicable, and to be dated as of the date first set forth above. 

 

			
	CHRYSLER CANADA INC.
		
		 	 /s/ Walter P. Bodden Jr.
  

	By:	 	Name:
		 	Title:

  
 UNSECURED
PROMISSORY NOTE – TRANCHE B 

 
			
	ANDREW SMITH and PETER KENNEDY, each in their capacity as Trustees of the AUTO SECTOR RETIREE HEALTH CARE TRUST 
		
		 	 /s/ Andrew Smith
  

	By:	 	Name: ANDREW SMITH
		 	Title: TRUSTEE
		
		 	 /s/ Peter Kennedy
  

	By:	 	Name: PETER KENNEDY
		 	Title: TRUSTEE, CHAIR

  
 UNSECURED
PROMISSORY NOTE – TRANCHE B 

 SCHEDULE A 
 TRANCHE B NOTE 
 SCHEDULED PAYMENT AMOUNTS 

 

					
	 Payment Date
	  	Scheduled Payment Amount	 
	 December 31, 2010
	  	$	10,000,000	  
	 June 30, 2011
	  	$	10,000,000	  
	 June 30, 2012
	  	$	10,000,000	  
	 June 30, 2013
	  	$	68,648,946	  
	 June 30, 2014
	  	$	68,648,946	  
	 June 30, 2015
	  	$	68,648,946	  
	 June 30, 2016
	  	$	68,648,946	  
	 June 30, 2017
	  	$	68,648,946	  
	 June 30, 2018
	  	$	68,648,946	  
	 June 30, 2019
	  	$	68,648,946	  
	 June 30, 2020
	  	$	68,648,946	  
	 June 30, 2021
	  	$	68,648,946	  
	 June 30, 2022
	  	$	68,648,946	  
	 June 30, 2023
	  	$	68,648,946	  
	 June 30, 2024
	  	$	68,648,945	  

  
 UNSECURED
PROMISSORY NOTE – TRANCHE B 

 SCHEDULE B 
 TRANCHE B NOTE 
 CALCULATION OF THE SCHEDULED PAYMENT AMOUNTS

  

					
	 Original Principal Sum
	  	$	404,900,000	  
		  	 	 	 
	 Interest Rate
	  	 	9.00	% 
		  	 	 	 

 Calculation Principles: 
 The Scheduled Payments Amounts and interest are calculated on the basis of an assumed payment date of December 31 of each year. 

In addition, interest is calculated from January 1, 2010 as if the Principal Sum were outstanding as of such date. 

Once calculated all Scheduled Payment Amounts are required to be paid on the Payment Date. 

 

																													
	 	  	Principal Sum
Beginning
Balance	 	  	  	 	  	  	 	  	  	 	  	 	 	 	Principal Sum
Ending
Balance	 	  	memo:
Total Interest
Expense	 
	 	  	  	Scheduled Payment Amount	 	  	Capitalized
Interest	 	 	  
	 	  	  	Total	 	  	Principal	 	  	Interest	 	  	 	  
	 	  	A	 	  	B+C	 	  	B	 	  	C	 	  	D=E-C	 	 	A-B+D	 	  	E=A*9%	 
	 2010
	  	$	404,900,000	  	  	$	10,000,000	  	  	 	—  	  	  	$	10,000,000	  	  	$	26,441,000	  	 	$	431,341,000	  	  	$	36,441,000	  
	 2011
	  	 	431,341,000	  	  	 	10,000,000	  	  	 	—  	  	  	 	10,000,000	  	  	 	28,820,690	  	 	 	460,161,690	  	  	 	38,820,690	  
	 2012
	  	 	460,161,690	  	  	 	10,000,000	  	  	 	—  	  	  	 	10,000,000	  	  	 	31,414,552	  	 	 	491,576,242	  	  	 	41,414,552	  
	 2013
	  	 	491,576,242	  	  	 	68,648,946	  	  	 	—  	  	  	 	68,648,946	  	  	 	(24,407,084	) 	 	 	467,169,158	  	  	 	44,241,862	  
	 2014
	  	 	467,169,158	  	  	 	68,648,946	  	  	 	—  	  	  	 	68,648,946	  	  	 	(26,603,722	) 	 	 	440,565,436	  	  	 	42,045,224	  
	 2015
	  	 	440,565,436	  	  	 	68,648,946	  	  	 	—  	  	  	 	68,648,946	  	  	 	(28,998,057	) 	 	 	411,567,379	  	  	 	39,650,889	  
	 2016
	  	 	411,567,379	  	  	 	68,648,946	  	  	$	24,940,503	  	  	 	43,708,443	  	  	 	(6,667,379	) 	 	 	379,959,497	  	  	 	37,041,064	  
	 2017
	  	 	379,959,497	  	  	 	68,648,946	  	  	 	34,452,591	  	  	 	34,196,355	  	  	 	—  	  	 	 	345,506,906	  	  	 	34,196,355	  
	 2018
	  	 	345,506,906	  	  	 	68,648,946	  	  	 	37,553,324	  	  	 	31,095,622	  	  	 	—  	  	 	 	307,953,582	  	  	 	31,095,622	  
	 2019
	  	 	307,953,582	  	  	 	68,648,946	  	  	 	40,933,124	  	  	 	27,715,822	  	  	 	—  	  	 	 	267,020,458	  	  	 	27,715,822	  
	 2020
	  	 	267,020,458	  	  	 	68,648,946	  	  	 	44,617,105	  	  	 	24,031,841	  	  	 	—  	  	 	 	222,403,353	  	  	 	24,031,841	  
	 2021
	  	 	222,403,353	  	  	 	68,648,946	  	  	 	48,632,644	  	  	 	20,016,302	  	  	 	—  	  	 	 	173,770,709	  	  	 	20,016,302	  
	 2022
	  	 	173,770,709	  	  	 	68,648,946	  	  	 	53,009,582	  	  	 	15,639,364	  	  	 	—  	  	 	 	120,761,127	  	  	 	15,639,364	  
	 2023
	  	 	120,761,127	  	  	 	68,648,946	  	  	 	57,780,444	  	  	 	10,868,502	  	  	 	—  	  	 	 	62,980,683	  	  	 	10,868,502	  
	 2024
	  	 	62,980,683	  	  	 	68,648,945	  	  	 	62,980,683	  	  	 	5,668,262	  	  	 	—  	  	 	 	—  	  	  	 	5,668,262	  

 SCHEDULE C.I 
 TRANCHE B NOTE 
 SAMPLE RE-CALCULATION OF THE SCHEDULED PAYMENT
AMOUNTS UNDER SECTION 3.03 
  

					
	 Original Principal Sum
	  	$	404,900,000	  
		  	 	 	 
	 Interest Rate
	  	 	9.00	% 
		  	 	 	 
	 Prepayment Amount
	  	$	50,000,000	  
		  	 	 	 
	 Prepayment Date
	  	 	January 1, 2018	  
		  	 	 	 

 Calculation Principles: 
 The Scheduled Payments Amounts and interest are calculated on the basis of an assumed payment date of December 31 of each year. 

In addition, interest is calculated from January 1, 2010 as if the Principal Sum were outstanding as of such date. 

Once calculated all Scheduled Payment Amounts are required to be paid on the Payment Date. 

Prepayment Assumptions: 
 The
Prepayment Amount will reduce the Principal Sum outstanding on the Prepayment Date and will be applied to the Scheduled Payment Amounts in inverse order of maturity. 
  

																																	
	 	  	Principal
Sum
Beginning
Balance	 	  	 	 	  	  	 	  	  	 	  	  	 	  	 	 	 	Principal Sum
Ending
Balance	 	  	memo:
Total Interest
Expense	 
	 	  	  	Prepayment
Amount
	 	  	Scheduled Payment Amount	 	  	Capitalized
Interest	 	 	  
	 	  	  	  	Total	 	  	Principal	 	  	Interest	 	  	 	  
	 	  	A	 	  	B	 	  	C+D	 	  	C	 	  	D	 	  	E=F-D	 	 	A-B-C+E	 	  	F=(A-B)*9%	 
	 2010
	  	$	404,900,000	  	  	 	—  	  	  	$	10,000,000	  	  	 	—  	  	  	$	10,000,000	  	  	$	26,441,000	  	 	$	431,341,000	  	  	$	36,441,000	  
	 2011
	  	 	431,341,000	  	  	 	—  	  	  	 	10,000,000	  	  	 	—  	  	  	 	10,000,000	  	  	 	28,820,690	  	 	 	460,161,690	  	  	 	38,820,690	  
	 2012
	  	 	460,161,690	  	  	 	—  	  	  	 	10,000,000	  	  	 	—  	  	  	 	10,000,000	  	  	 	31,414,552	  	 	 	491,576,242	  	  	 	41,414,552	  
	 2013
	  	 	491,576,242	  	  	 	—  	  	  	 	68,648,946	  	  	 	—  	  	  	 	68,648,946	  	  	 	(24,407,084	) 	 	 	467,169,158	  	  	 	44,241,862	  
	 2014
	  	 	467,169,158	  	  	 	—  	  	  	 	68,648,946	  	  	 	—  	  	  	 	68,648,946	  	  	 	(26,603,722	) 	 	 	440,565,436	  	  	 	42,045,224	  
	 2015
	  	 	440,565,436	  	  	 	—  	  	  	 	68,648,946	  	  	 	—  	  	  	 	68,648,946	  	  	 	(28,998,057	) 	 	 	411,567,379	  	  	 	39,650,889	  
	 2016
	  	 	411,567,379	  	  	 	—  	  	  	 	68,648,946	  	  	$	24,940,503	  	  	 	43,708,443	  	  	 	(6,667,379	) 	 	 	379,959,497	  	  	 	37,041,064	  
	 2017
	  	 	379,959,497	  	  	 	—  	  	  	 	68,648,946	  	  	 	34,452,591	  	  	 	34,196,355	  	  	 	—  	  	 	 	345,506,906	  	  	 	34,196,355	  
	 2018
	  	 	345,506,906	  	  	$	50,000,000	  	  	 	68,648,946	  	  	 	42,053,324	  	  	 	26,595,622	  	  	 	—  	  	 	 	253,453,582	  	  	 	26,595,622	  
	 2019
	  	 	253,453,582	  	  	 	—  	  	  	 	68,648,946	  	  	 	45,838,124	  	  	 	22,810,822	  	  	 	—  	  	 	 	207,615,458	  	  	 	22,810,822	  
	 2020
	  	 	207,615,458	  	  	 	—  	  	  	 	68,648,946	  	  	 	49,963,555	  	  	 	18,685,391	  	  	 	—  	  	 	 	157,651,903	  	  	 	18,685,391	  
	 2021
	  	 	157,651,903	  	  	 	—  	  	  	 	68,648,946	  	  	 	54,460,275	  	  	 	14,188,671	  	  	 	—  	  	 	 	103,191,628	  	  	 	14,188,671	  
	 2022
	  	 	103,191,628	  	  	 	—  	  	  	 	68,648,946	  	  	 	59,361,699	  	  	 	9,287,247	  	  	 	—  	  	 	 	43,829,929	  	  	 	9,287,247	  
	 2023
	  	 	43,829,929	  	  	 	—  	  	  	 	47,774,623	  	  	 	43,829,929	  	  	 	3,944,694	  	  	 	—  	  	 	 	—  	  	  	 	3,944,694	  
	 2024
	  	 	—  	  	  	 	—  	  	  	 	—  	  	  	 	—  	  	  	 	—  	  	  	 	—  	  	 	 	—  	  	  	 	—  	  

 SCHEDULE C.II 
 TRANCHE B NOTE 
 SAMPLE RE-CALCULATION OF THE SCHEDULED PAYMENT
AMOUNTS UNDER SECTION 3.03 
  

					
	 Original Principal Sum
	  	$	404,900,000	  
		  	 	 	 
	 Interest Rate
	  	 	9.00	% 
		  	 	 	 
	 Prepayment Amount
	  	$	120,761,129	  
		  	 	 	 
	 Prepayment Date
	  	 	January 1, 2018	  
		  	 	 	 

 Calculation Principles: 
 The Scheduled Payments Amounts and interest are calculated on the basis of an assumed payment date of December 31 of each year. 

In addition, interest is calculated from January 1, 2010 as if the Principal Sum were outstanding as of such date. 

Once calculated all Scheduled Payment Amounts are required to be paid on the Payment Date. 

Prepayment Assumptions: 
 The
Prepayment Amount will reduce the Principal Sum outstanding on the Prepayment Date and will be applied to the Scheduled Payment Amounts due on or prior to the date which is two years after the Prepayment Date. 

 

																																	
	 	  	Principal
Sum
Beginning
Balance	 	  	 	 	  	  	 	  	  	 	  	  	 	  	 	 	 	Principal Sum
Ending
Balance	 	  	memo:
Total Interest
Expense	 
	 	  	  	Prepayment
Amount
	 	  	Scheduled Payment Amount	 	  	Capitalized
Interest	 	 	  
	 	  	  	  	Total	 	  	Principal	 	  	Interest	 	  	 	  
	 	  	A	 	  	B	 	  	C+D	 	  	C	 	  	D	 	  	E=F-D	 	 	A-B-C+E	 	  	F=(A-B)*9%	 
	 2010
	  	$	404,900,000	  	  	 	—  	  	  	$	10,000,000	  	  	 	—  	  	  	$	10,000,000	  	  	$	26,441,000	  	 	$	431,341,000	  	  	$	36,441,000	  
	 2011
	  	 	431,341,000	  	  	 	—  	  	  	 	10,000,000	  	  	 	—  	  	  	 	10,000,000	  	  	 	28,820,690	  	 	 	460,161,690	  	  	 	38,820,690	  
	 2012
	  	 	460,161,690	  	  	 	—  	  	  	 	10,000,000	  	  	 	—  	  	  	 	10,000,000	  	  	 	31,414,552	  	 	 	491,576,242	  	  	 	41,414,552	  
	 2013
	  	 	491,576,242	  	  	 	—  	  	  	 	68,648,946	  	  	 	—  	  	  	 	68,648,946	  	  	 	(24,407,084	) 	 	 	467,169,158	  	  	 	44,241,862	  
	 2014
	  	 	467,169,158	  	  	 	—  	  	  	 	68,648,946	  	  	 	—  	  	  	 	68,648,946	  	  	 	(26,603,722	) 	 	 	440,565,436	  	  	 	42,045,224	  
	 2015
	  	 	440,565,436	  	  	 	—  	  	  	 	68,648,946	  	  	 	—  	  	  	 	68,648,946	  	  	 	(28,998,057	) 	 	 	411,567,379	  	  	 	39,650,889	  
	 2016
	  	 	411,567,379	  	  	 	—  	  	  	 	68,648,946	  	  	$	24,940,503	  	  	 	43,708,443	  	  	 	(6,667,379	) 	 	 	379,959,497	  	  	 	37,041,064	  
	 2017
	  	 	379,959,497	  	  	 	—  	  	  	 	68,648,946	  	  	 	34,452,591	  	  	 	34,196,355	  	  	 	—  	  	 	 	345,506,906	  	  	 	34,196,355	  
	 2018
	  	 	345,506,906	  	  	$	120,761,129	  	  	 	—  	  	  	 	—  	  	  	 	—  	  	  	 	20,227,120	  	 	 	244,972,897	  	  	 	20,227,120	  
	 2019
	  	 	244,972,897	  	  	 	—  	  	  	 	—  	  	  	 	—  	  	  	 	—  	  	  	 	22,047,561	  	 	 	267,020,458	  	  	 	22,047,561	  
	 2020
	  	 	267,020,458	  	  	 	—  	  	  	 	68,648,946	  	  	 	2,342,424	  	  	 	66,306,522	  	  	 	(42,274,681	) 	 	 	222,403,353	  	  	 	24,031,841	  
	 2021
	  	 	222,403,353	  	  	 	—  	  	  	 	68,648,946	  	  	 	48,632,644	  	  	 	20,016,302	  	  	 	—  	  	 	 	173,770,709	  	  	 	20,016,302	  
	 2022
	  	 	173,770,709	  	  	 	—  	  	  	 	68,648,946	  	  	 	53,009,582	  	  	 	15,639,364	  	  	 	—  	  	 	 	120,761,127	  	  	 	15,639,364	  
	 2023
	  	 	120,761,127	  	  	 	—  	  	  	 	68,648,946	  	  	 	57,780,444	  	  	 	10,868,502	  	  	 	—  	  	 	 	62,980,683	  	  	 	10,868,502	  
	 2024
	  	 	62,980,683	  	  	 	—  	  	  	 	68,648,945	  	  	 	62,980,683	  	  	 	5,668,262	  	  	 	—  	  	 	 	—  	  	  	 	5,668,262	  

 SCHEDULE C.III 

TRANCHE B NOTE 
 SAMPLE RE-CALCULATION OF THE SCHEDULED PAYMENT AMOUNTS UNDER SECTION 3.03 
  

					
	 Original Principal Sum
	  	$	404,900,000	  
		  	 	 	 
	 Interest Rate
	  	 	9.00	% 
		  	 	 	 
	 Prepayment Amount
	  	$	140,761,129	  
		  	 	 	 
	 Prepayment Date
	  	 	January 1, 2018	  
		  	 	 	 

 Calculation Principles: 
 The Scheduled Payments Amounts and interest are calculated on the basis of an assumed payment date of December 31 of each year. 

In addition, interest is calculated from January 1, 2010 as if the Principal Sum were outstanding as of such date. 

Once calculated all Scheduled Payment Amounts are required to be paid on the Payment Date. 

Prepayment Assumptions: 
 The
Prepayment Amount will reduce the Principal Sum outstanding on the Prepayment Date and will be applied to the Scheduled Payment Amounts due on or prior to the date which is two years after the Prepayment Date and to the Scheduled Payment Amounts in
inverse order of maturity. 
  

																																	
	 	  	Principal
Sum
Beginning
Balance	 	  	 	 	  	  	 	  	  	 	  	  	 	  	 	 	 	Principal Sum
Ending
Balance	 	  	memo:
Total Interest
Expense	 
	 	  	  	Prepayment
Amount
	 	  	Scheduled Payment Amount	 	  	Capitalized
Interest	 	 	  
	 	  	  	  	Total	 	  	Principal	 	  	Interest	 	  	 	  
	 	  	A	 	  	B	 	  	C+D	 	  	C	 	  	D	 	  	E=F-D	 	 	A-B-C+E	 	  	F=(A-B)*9%	 
	 2010
	  	$	404,900,000	  	  	 	—  	  	  	$	10,000,000	  	  	 	—  	  	  	$	10,000,000	  	  	$	26,441,000	  	 	$	431,341,000	  	  	$	36,441,000	  
	 2011
	  	 	431,341,000	  	  	 	—  	  	  	 	10,000,000	  	  	 	—  	  	  	 	10,000,000	  	  	 	28,820,690	  	 	 	460,161,690	  	  	 	38,820,690	  
	 2012
	  	 	460,161,690	  	  	 	—  	  	  	 	10,000,000	  	  	 	—  	  	  	 	10,000,000	  	  	 	31,414,552	  	 	 	491,576,242	  	  	 	41,414,552	  
	 2013
	  	 	491,576,242	  	  	 	—  	  	  	 	68,648,946	  	  	 	—  	  	  	 	68,648,946	  	  	 	(24,407,084	) 	 	 	467,169,158	  	  	 	44,241,862	  
	 2014
	  	 	467,169,158	  	  	 	—  	  	  	 	68,648,946	  	  	 	—  	  	  	 	68,648,946	  	  	 	(26,603,722	) 	 	 	440,565,436	  	  	 	42,045,224	  
	 2015
	  	 	440,565,436	  	  	 	—  	  	  	 	68,648,946	  	  	 	—  	  	  	 	68,648,946	  	  	 	(28,998,057	) 	 	 	411,567,379	  	  	 	39,650,889	  
	 2016
	  	 	411,567,379	  	  	 	—  	  	  	 	68,648,946	  	  	$	24,940,503	  	  	 	43,708,443	  	  	 	(6,667,379	) 	 	 	379,959,497	  	  	 	37,041,064	  
	 2017
	  	 	379,959,497	  	  	 	—  	  	  	 	68,648,946	  	  	 	34,452,591	  	  	 	34,196,355	  	  	 	—  	  	 	 	345,506,906	  	  	 	34,196,355	  
	 2018
	  	 	345,506,906	  	  	$	140,761,129	  	  	 	—  	  	  	 	—  	  	  	 	—  	  	  	 	18,427,120	  	 	 	223,172,897	  	  	 	18,427,120	  
	 2019
	  	 	223,172,897	  	  	 	—  	  	  	 	—  	  	  	 	—  	  	  	 	—  	  	  	 	20,085,561	  	 	 	243,258,458	  	  	 	20,085,561	  
	 2020
	  	 	243,258,458	  	  	 	—  	  	  	 	68,648,946	  	  	 	8,243,004	  	  	 	60,405,942	  	  	 	(38,512,681	) 	 	 	196,502,773	  	  	 	21,893,261	  
	 2021
	  	 	196,502,773	  	  	 	—  	  	  	 	68,648,946	  	  	 	50,963,696	  	  	 	17,685,250	  	  	 	—  	  	 	 	145,539,077	  	  	 	17,685,250	  
	 2022
	  	 	145,539,077	  	  	 	—  	  	  	 	68,648,946	  	  	 	55,550,429	  	  	 	13,098,517	  	  	 	—  	  	 	 	89,988,648	  	  	 	13,098,517	  
	 2023
	  	 	89,988,648	  	  	 	—  	  	  	 	68,648,946	  	  	 	60,549,967	  	  	 	8,098,979	  	  	 	—  	  	 	 	29,438,681	  	  	 	8,098,979	  
	 2024
	  	 	29,438,681	  	  	 	—  	  	  	 	32,088,163	  	  	 	29,438,681	  	  	 	2,649,482	  	  	 	—  	  	 	 	—  	  	  	 	2,649,482

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00187-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00187-of-00352.parquet"}]]