Document:

Auto Finance Operating Agreement, dated as of April 30, 2009

 Exhibit 10.20 
 AUTO FINANCE OPERATING AGREEMENT 
 I. Parties

 This Auto Finance Operating Agreement is made by and between the following parties as of April 30, 2009 (“Effective
Date”): 
  

	A.	Ally Financial Inc., formerly known as GMAC Inc., (“Ally”) and 

 

	B.	Chrysler Group LLC (“Chrysler”). 

 II. Recitals 
  

	A.	Chrysler manufactures, distributes, markets, and sells motor vehicles under various brands, including, “Chrysler”, “Dodge”,
“Jeep”, “RAM”, and “Mopar”, and related goods and services (“Chrysler Products”), which are offered for sale to retail Consumers through a network of dealerships authorized by
Chrysler (“Chrysler Dealers”). 

  

	B.	Ally is a diversified financial services company that directly, and indirectly through its Subsidiaries, provides automotive and non-automotive finance and
lease, insurance, banking, mortgage, lending, and other services to a variety of customers (“Ally Products”). 

  

	C.	As part of its business, Ally: 

  

	 	1.	Supports the sale of Chrysler Products by purchasing from Chrysler Dealers, at market rates and below market rates, motor vehicle retail installment sale
contracts (“Retail Financing”) and motor vehicle lease contracts, including the underlying lease vehicle, (collectively, “Consumer Financing”); 

 

	 	2.	Finances Chrysler Dealers’ acquisition of motor vehicle inventory (“Inventory Financing”) and extend loans and other credit accommodations
for working capital, equipment, and real estate (“Loans”, and, collectively with Inventory Financing, “Dealer Financing”) to Chrysler Dealers; 

 

	 	3.	Makes available to Chrysler Dealers, remarketing and related auction services for the purchase and sale of used vehicles, including through proprietary internet
auctions hosted by Ally, such as SmartAuction, (collectively, “Remarketing”); and 

  

	 	4.	Makes available to Chrysler Dealers, insurance products and services, including vehicle inventory insurance, and other dealer insurance products and services,
through Motors Insurance Corporation and its Subsidiaries (collectively, “Insurance”). 

  

	D.	Subject to Section 5.2, Chrysler wants Ally to be Chrysler’s preferred service provider of automotive financial services in the United States, and Ally
wants to be Chrysler’s preferred service provider of automotive financial services in the United States, in each case including the services listed in Recital C above, in each case under the terms and conditions of this Agreement.

 Agreement 
 In consideration of the recitals above, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Chrysler and Ally agree as follows: 

 
  

	***	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. 

  
 1 

 ARTICLE I    DEFINITIONS 

SECTION 1.1 Definitions. The words in this Agreement have the meanings usually and customarily ascribed to them in commercial contracts,
except that the words defined below, or elsewhere in this Agreement, have the respective meanings ascribed to them as indicated. 
  

	(a)	“Affiliated Entity” means an entity: 

  

	 	(i)	That is a Subsidiary of a party to this Agreement; or 

  

	 	(ii)	That owns a majority of the voting securities of a party to this Agreement; or 

 

	 	(iii)	That Controls, is Controlled by, or is under common Control with a party to this Agreement. 

 

	(b)	“Ally-Financed Dealer” means a Chrysler Dealer to which Ally provides Inventory Financing and/or Loans. 

 

	(c)	“Application” means a credit application in a standard form developed or approved by Ally submitted by or on behalf of a Consumer in connection
with the purchase or lease of a new or used Chrysler vehicle that a Chrysler Dealer submits for Ally’s assessment and credit decision as to whether Ally would purchase a retail installment sale or lease contract that the Chrysler Dealer enters
into with that Consumer, if the Dealer were to offer it for sale to Ally. 

  

	(d)	“Approval” means Ally’s credit decision that it would purchase a retail installment sale or lease contract, if a Chrysler Dealer decides to
offer it for sale to Ally under the terms offered by that Chrysler Dealer as submitted (i.e., not subject to a change in the terms of the contract and/or fulfillment of one or more specific conditions such as additional down payment).

  

	(e)	“Business Day” means any day that is not a Saturday, Sunday or other day on which banks are required or authorized by law to be closed in Auburn
Hills, Michigan or New York, New York. 

  

	(f)	“Capital Markets Disruption” means circumstances where the global credit markets are such that credit is either not available or not available
on commercially reasonable terms to borrowers with credit rating and business prospects similar to Ally for a period of three months or longer. 

  

	(g)	“Confidential Information” means the terms and conditions of this Agreement and/or any information (including data developed from any such
information) in any format that meets all of the following criteria: 

  

	 	(i)	Chrysler, Ally, or their respective Representatives (each a “receiving party”) obtains the information from the other party or its
Representatives (each a disclosing “disclosing party”) before or after the execution of this Agreement; 

  

	 	(ii)	The information relates to the business or financial activities of the disclosing party or its Affiliated Entities; and 

 

	 	(iii)	The information is made available to the receiving party solely to facilitate the receiving party’s performance of this Agreement or otherwise as a result
of the commercial relationship between Chrysler and Ally, or includes information relating to customers and dealerships, pricing, methods, operations, processes, trade secrets, credit programs, financial data, business and financial relationships,
technical data, statistics, technical specifications, documentation, research, development or related information, computer systems, employees, and any results or compilations of the foregoing or is otherwise clearly and conspicuously labeled
“confidential” on its face . 

  

	    	“Confidential Information” does not include any information that: 

 

	 	•	 	 Is or becomes publicly available by any means other than a breach of this Agreement; 

  
 2 

	 	•	 	 Was known by the receiving party before its receipt from disclosing party so long as the source of that information is not known to the receiving party
to be prohibited by contract or applicable law from disclosing that information; or 

  

	 	•	 	 Is independently developed by the receiving party without using information from the disclosing party. 

 

	(h)	“Confidential Personal Information” means all information about Consumers that are individuals, including names, addresses, telephone numbers,
account numbers and lists thereof, and demographic, financial and transaction information for, such Consumers. 

  

	(i)	“Consumer” means: 

  

	 	(i)	An individual who acquires or seeks to acquire Chrysler Products at retail primarily for personal, family, or household purposes; or 

 

	 	(ii)	A Person who acquires or seeks to acquire Chrysler Products at retail for business, commercial, or similar purposes. 

 

	(j)	“Control”, “Controlled”, and derivatives thereof, mean, as to a Person, the direct or indirect power to direct the management and
policies of that Person, whether through the ownership of voting securities, by contract, or otherwise. 

  

	(k)	“Credit Tier” means a category of credit risk determined through Ally’s proprietary risk scoring system. 

 

	(l)	“FICO Score” means the standard consumer credit scoring system commonly used in the United States. 

 

	(m)	“Governmental Authority” means any supranational, international, national, federal, state, or local court, provincial, government, department,
commission, board, bureau, agency, official or other regulatory, administrative, or governmental authority. 

  

	(n)	“Including”, “includes”, and derivatives thereof mean including or includes without limitation. 

 

	(o)	“Law” means any federal, state, local, provincial, or foreign law, statute, ordinance, rule, regulation, judgment, order, injunction, decree,
agency requirement, judicial, agency or administrative opinion having the force of law, license or permit of any governmental authority, or common law. 

  

	(p)	“OEM” means an original equipment manufacturer or distributor of passenger cars and light trucks, but in no event includes a Governmental
Authority. 

  

	(q)	“Person” means any individual, corporation, partnership, joint venture, limited liability company, limited liability partnership, association,
joint stock company, trust, unincorporated organization, or other organization, whether or not a legal entity, and any Government Authority. 

  

	(r)	“Rate Support” means, with respect to financing incentives offered by Chrysler on retail installment sale contracts (including balloon contracts
and any other similar products) that enable Consumers to obtain rates that are below the market rates, the difference between the Support Rate and the below-market rate. 

 

	(s)	“Rate Support Subvention Program” means a Subvention Program involving Rate Support. 

 

	(t)	“Repurchase Triggering Event” means any one or more of the following: 

 

	 	(i)	Chrysler or a Chrysler Dealer terminates such Chrysler Dealer’s dealer sales and service agreement with Chrysler.  

 

	 	(ii)	Ally repossesses, [***] assets in which Ally has a first priority perfected security interest, [***]. 

 
  

	***	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. 

  
 3 

	 	(iii)	A Chrysler Dealer voluntarily surrenders all of its assets in which Ally has a first priority perfected security interest, including surrendering to Ally all of
its new Chrysler motor vehicle inventory financed by Ally. 

  

	(u)	“Representatives” means directors, officers, employees and representatives of a party or its Subsidiaries and each of their respective agents,
representatives, auditors, attorneys, and other professional advisors. 

  

	(v)	“Subsidiary” means, as to a Person, another Person a majority of the voting securities of which are owned by that first Person.

  

	(w)	“Subvention Program” means programs in which Chrysler offers financial subsidies, incentives, capitalized cost reductions, or special terms,
including interest free periods, in each case through a financial services company or bank conditioned upon the Consumer financing or leasing through a financial services company or bank to: 

 

	 	(i)	Chrysler Dealers (excluding any programs in which Chrysler offers payments or subsidies to Chrysler Dealers directly and are not conditioned upon financing
through a financial services company or bank). 

  

	 	(ii)	Consumers, if such programs are conditioned upon financing or leasing through a financial services company or bank. 

 

	    	“subvented”, “subvene”, and their derivatives have similar meanings. 

 

	    	“Subvention Program” does not include a program in which Chrysler offers payments or subsidies to Chrysler Dealers directly or provides cash allowances
or incentives (e.g., “cash on the hood”), in each case not through a financial services company or bank. 

  

	(x)	“Support Rate” means the interest rate Ally offers to Chrysler when Chrysler wants to sponsor special financing rates to Consumers through a Rate
Support Subvention Program. 

  

	(y)	“Unsecured Exposure” means the aggregate amount of any and all financial exposure(s) of Ally and its Subsidiaries in the aggregate to Chrysler and its
Subsidiaries in the aggregate that is not secured by a first priority perfected security interest or lien in favor of Ally (or the applicable Ally entity) against all of the assets of Chrysler, consisting of: 

 

	 	(i)	Subvention Rate Support payments not yet invoiced by Ally; 

  

	 	(ii)	Subvention Rate Support Payments invoiced by Ally, which are past due; ; 

 

	 	(iii)	Guaranty obligations of Chrysler in favor of Ally, if any; 

  

	 	(iv)	Gap insurance obligations of Chrysler, in favor of Ally, if any; and 

 

	 	(v)	Other unsecured exposures as may be agreed between the parties from time to time (e.g., lease subvention or residual support if agreed between the parties
or as determined by the U.S. Coordinating Committee from time to time). 

  

	    	“Unsecured Exposure” does not include: 

  

	 	•	 	 Chrysler’s obligations in connection with Subvention Programs, to the extent Ally has invoiced Chrysler for those amounts and they are not yet
due; 

  

	 	•	 	 Chrysler’s obligations in connection with the repurchase of Chrysler vehicles pursuant to Section 4.4 below; and

  

	 	•	 	 Chrysler’s obligations in connection with any bailment pool arrangements. 

  

  
 4 

	    	In addition, the following terms are used as defined in the specific sections of this Agreement specified below. 

 

			
	 Term
	  	 Section

	 Ally License
	  	11.1
	 Ally Products
	  	Recitals
	 Alternative Volume
	  	3.4(a)
	 Cap
	  	9.1
	 Chrysler Dealers
	  	Recitals
	 Chrysler License
	  	11.2
	 Chrysler Marks
	  	11.2
	 Chrysler Open Account
	  	4.3(a)
	 Chrysler Products
	  	Recitals
	 Compliance Review
	  	10.1
	 Consumer Financing
	  	Recitals
	 Current Dealer
	  	5.2(a)
	 Dealer Financing
	  	Recitals
	 Dealings
	  	2.1(a)
	 Dispute
	  	15.3
	 Force Majeure Condition
	  	15.6
	 Initial Term
	  	12.1
	 Implementing Agreement
	  	2.1(e)
	 Indemnification Clause
	  	13.1(a)
	 Indemnitee
	  	13.1(a)(i)
	 Indemnitor
	  	13.1(a)(ii)
	 Insurance
	  	Recitals
	 Inventory Financing
	  	Recitals
	 Lead Member
	  	6.1(a)(iii)
	 Loans
	  	Recitals
	 Notices
	  	15.5
	 Operational Notices
	  	15.5
	 Organizational Set Up
	  	8.3
	 Remarketing
	  	Recitals
	 Repurchase Triggering Event
	  	4.4
	 Retail Contracts
	  	3.3(b)
	 Retail Financing
	  	Recitals
	 U.S. Coordinating Committee or Committee
	  	6.1

 ARTICLE
II    FRAMEWORK 
 SECTION 2.1 Contractual Framework. 

 

	(a)	This Agreement establishes the contractual framework for dealings between Chrysler and Ally in the United States, including Puerto Rico on a best efforts basis,
related to Consumer Financing, Dealer Financing, Remarketing, and Insurance (individually and collectively “Dealings”). 

  

	(b)	From time to time, at Chrysler’s option and upon reasonable advance notice to Ally, Chrysler may designate as “Chrysler Products” any motor
vehicles sold under a brand of Fiat Group Automobiles S.p.A. and distributed through Chrysler Dealers, in which case this Agreement will apply to such vehicles. 

  
 5 

	(c)	Each party will each use commercially reasonable efforts to cause its respective Subsidiaries in the United States, Canada, Mexico, as applicable, to agree to be
bound by the terms of this Agreement to their dealings by executing one or more Opt-in Agreements in substantially the form attached to this Agreement as Exhibit A. 

 

	 	(i)	Upon execution of an Opt-in Agreement, the Subsidiary accedes to the rights, benefits and obligations of this Agreement, with those specific modifications,
exceptions or additions set forth in a particular Opt-in Letter as necessary or appropriate to reflect operating and financing conditions in the relevant local market. 

 

	 	(ii)	If a Subsidiary ceases to be a Subsidiary of a party, then the other party may terminate all rights and obligations with respect to that former Subsidiary
effective on 60 days’ prior notice. 

  

	 	(iii)	The parties may from time to time agree on the inclusion of their respective Subsidiaries in additional markets into this Agreement, the inclusion of which will
be evidenced by the execution and delivery by such Subsidiaries of additional Opt-in Agreements. 

  

	(d)	Nothing in this Agreement precludes Ally from providing or continuing to provide any financial services to OEMs other than Chrysler or dealers other than Chrysler
Dealers, or from providing or continuing to provide insurance, mortgage, banking, or other non-automotive financial services. 

  

	(e)	The specific terms and conditions related to individual Dealings in the United States that are not captured by this Agreement, or as to which the parties
mutually agree to provide for more specific terms as to a specific transaction, series of transactions, or type of transaction, will be the subject of separate agreements (each an “Implementing Agreement”), and unless Ally and
Chrysler specifically agree otherwise, including in such Implementing Agreement, this Agreement controls to the extent of any direct conflict between this Agreement and any such Implementing Agreement. 

 

	(f)	Chrysler and Ally will reasonably cooperate with one another and assist the other in carrying out the other’s obligations under this Agreement and will
execute and deliver documents and instruments reasonably necessary and appropriate to do so. 

  

	(g)	The terms of this Agreement are intended to preserve the customer loyalty and dealer support benefits that would accrue to Chrysler as an OEM with an exclusive
financing affiliate, while at the same time assuring that Ally receives a competitive level of return. 

  

	(h)	Ally recognizes Chrysler’s desire to grow its automotive business and will continue to support Chrysler in that effort to the extent that it is consistent
with Ally’s business interests. 

  

	(i)	[***]. 

  

	    	[***]. 

  

 

	***	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. 

  
 6 

 ARTICLE III    CONSUMER FINANCING 

SECTION 3.1 General Service Obligations. 
  

	(a)	In the United States, Ally will provide full and fair consideration to Applications spanning a broad spectrum of prime and nonprime Consumers received from a
Chrysler Dealer with whom Ally has a Retail Financing relationship, applying credit risk underwriting standards consistent with its general practices for Consumer Financing, and will purchase such contracts, if appropriate in Ally’s sole
discretion in accordance with its usual and customary standards for creditworthiness, subject to applicable safety and soundness standards . 

  

	(b)	Ally’s decision whether to provide Consumer Financing to any Consumer will be made in its sole and absolute discretion and pursuant to its business judgment,
without any influence by Chrysler (but this does not prohibit Chrysler from communicating with Ally about any aspect of Ally’s performance as a financial service provider under the Agreement). 

 

	(c)	Ally will provide assistance to Chrysler Dealers with whom Ally has a Retail Financing relationship to finalize Consumer contracts related to Consumer Financing,
consistent with its general practices as discussed from time to time with the U.S. Coordinating Committee. 

  

	(d)	Ally will actively work to facilitate the ease of doing business, completing transactions, and minimizing and resolving disputes with Chrysler, Chrysler Dealers,
and Consumers, in each case consistent with its general practices as discussed from time to time with the Coordinating Committee. 

  

	(e)	Ally will not take any measures that are inconsistent with market practice that reduce the likelihood that Consumers will seek to finance purchases through Ally
(e.g., through onerous application fees, etc). 

 SECTION 3.2 Subvention Programs. 

 

	(a)	Chrysler will, in its sole discretion, set all terms and conditions of all Subvention Programs, including Consumer eligibility, program dates, covered Chrysler
Products, base prices of Chrysler Products eligible for Subvention, applicable Consumer credit tiers, lending duration of offered Consumer Financing products (e.g., 36 months, 60 months, etc.), and geography, and a Subvention Program may
contain any terms and conditions (e.g., it may relate to one or more Chrysler Products, one or more Chrysler brands, and one or more Consumer credit tiers), in each case subject to Section 3.2(a)(i) and (a)(ii) below.

  

	 	(i)	Chrysler will not design a Subvention Program that contains more than one type of underlying financial product (e.g., a single Subvention Program may not
contain both lease and retail installment sale contract products), however nothing in this Agreement restricts Chrysler from operating several Subvention Programs at any particular time or offering Consumers a choice between alternative Subvention
Programs; and 

  

	 	(ii)	Chrysler will not intentionally design a Chrysler Subvention Program with the intent of excluding Ally’s participation in such Subvention Program, but
Chrysler will not be restricted from operating a Subvention Program on the basis that Ally has indicated an inability or unwillingness to participate in such a Subvention Program or, in fact, does not participate in such a Subvention Program.

  

	(b)	Chrysler will use commercially reasonable efforts to inform Ally, including by e-mail or other electronic means, of all Subvention Programs at least five
Business Days before the scheduled start date (except for routine special rate and special residual support changes, notice of which may be given one Business Day before the scheduled start date). 

  
 7 

	 	(i)	If Chrysler does not provide Ally at least five Business Days’ notice of such a Subvention Program, Ally will nevertheless use commercially reasonable
efforts to implement that Subvention Program to the extent reasonably and practically possible under the circumstances. 

  

	 	(ii)	After receipt of notice of such a Subvention Program, Ally will notify Chrysler as promptly as practicable if Ally is unwilling or unable to implement or
participate in that Subvention Program. 

  

	 	(iii)	If Ally cannot implement a Subvention Program concept as proposed by Chrysler, then Chrysler and Ally will reasonably cooperate to find a workable solution, if
any, but: 

  

	 	(A)	Ally is not bound to participate in such Subvention Program; and 

  

	 	(B)	Chrysler is not bound to modify its proposed Subvention Program concept in order to accommodate Ally’s participation. 

 

	(c)	Chrysler will solicit input from Ally as to individual Subvention Programs and will consult in good faith with Ally as to the terms and conditions of individual
Subvention Programs to facilitate Ally’s ability to provide Retail Financing to support Chrysler’s business, but Chrysler is not bound to implement or modify the terms of any particular proposed Subvention Program in response to
Ally’s input and will remain free, subject to Chrysler’s specific obligations in this Agreement, to design and implement Subvention Programs in its discretion. 

 

	(d)	Chrysler will allow Ally to participate in any and all Subvention Programs on a side-by-side basis with any and all other financing sources.

 SECTION 3.3 Exclusivity and Related Terms for Rate Support Subvention Programs. Whenever Chrysler offers Rate
Support Subvention Programs, it will do so through Ally on a semi-exclusive basis as follows: 
  

	(a)	Before November 1, 2009, Chrysler may offer Subvention Programs through third parties, so long as it simultaneously offers Ally the opportunity to
participate in those Subvention Programs on a side-by-side basis. 

  

	(b)	From November 1, 2009 through April 30, 2010, the aggregate number of retail installment sale contracts, balloon contracts, and any other similar
products (individually and collectively, “Retail Contracts”) dated and booked during this period under Rate Support Subvention Programs that Chrysler offers through Ally exclusively must equal [***] of the total number of Retail
Contracts dated and booked under all Rate Support Subvention Programs offered during that time period (i.e., Chrysler must use Ally exclusively for [***] of its subvented Rate Support business and may use Ally non-exclusively for [***] of its
subvented Rate Support business), subject to Section 3.4 below (“Initial Threshold”). 

  

	(c)	Starting May 1, 2010, the aggregate number of Retail Contracts booked under Rate Support Subvention Programs that Chrysler offers through Ally exclusively
must equal [***] of the total number of Retail Contracts booked under all Rate Support Subvention Programs offered by Chrysler (i.e., Chrysler must use Ally exclusively for [***] of its subvented Rate Support business and may use Ally
non-exclusively for [***] of its subvented Rate Support business), subject to Sections 3.4 below, measured on a quarterly basis (“[***] Threshold” and, together with the Initial Threshold, the “Exclusivity
Thresholds”). 

  

	(d)	Chrysler’s compliance with the Exclusivity Thresholds will be reported to and assessed by the Coordinating Committee on a calendar quarterly basis, with
compliance during any calendar quarterly periods in which an Exclusivity Threshold applied in part only (i.e., the quarterly period ending December 31, 2009) or in which more than one Exclusivity Threshold applied (i.e., the
quarterly period ending June 30, 2010) being determined on the basis of a weighted average of the Retail Contracts dated and booked during the calendar quarterly periods. 

 
  

	***	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. 

  
 8 

	(e)	Chrysler will provide to the Coordinating Committee information reasonably sufficient to determine Chrysler’s compliance with Sections 3.3(b) and
(c) above within the following timeframes: 

  

	 	(i)	For the Initial Threshold: by the first Coordinating Committee meeting in August, 2010. 

 

	 	(ii)	For the [***] Threshold: at the first meeting of the Coordinating Committee occurring after the end of each calendar quarter for Retail Contracts dated within,
and booked to, the quarter that just ended. 

  

	(f)	The Coordinating Committee for each individual market (US, Canada, and Mexico) will use commercially reasonable efforts to develop and to implement a business
plan to achieve the [***] Threshold for each individual market (United States, Canada, and Mexico). 

  

	 	(i)	The business plan will include guidelines for the parties’ operational implementation and timelines for achieving the Exclusivity Threshold by individual
market (United States, Canada, and Mexico). 

  

	 	(ii)	Any failure to develop and implement the plan does not relieve Chrysler of its obligations under this Section 3.3. 

SECTION 3.4 Capital Markets Disruption. Ally and Chrysler will reasonably and mutually determine whether a Capital Markets Disruption has
occurred, and if so, when it ends. 
  

	(a)	If Ally and Chrysler have agreed that Capital Markets Disruption has occurred, and [***], then: 

 

	 	(i)	Chrysler’s obligations under Section 3.3(b) or 3.3(c) above, as applicable, are suspended, and Chrysler may offer that Rate Support Subvention
Program(s) on terms consistent with those offered to Ally through one or more third parties on a temporary basis, so long as the terms and conditions are consistent with those offered to Ally, (“Alternative Volume”) until Ally has
notified Chrysler that the Capital Markets Disruption has ended. 

  

	 	(ii)	Upon 30 days’ notice to Chrysler that it is able or willing to do so, Ally may participate in such Rate Support Subvention Program on a side-by-side basis
with any other financial services provider that has previously agreed to participate in such Rate Support Subvention Program, but any Alternate Volume will not be counted against the applicable Exclusivity Threshold(s). 

 

	(b)	Upon Ally’s notice that the Capital Markets Disruption has ended, Chrysler’s exclusivity obligations under Section 3.3(b) or 3.3(c) above, as
applicable, are automatically and immediately reinstated six months from the date of Ally’s notice that the Capital Markets Disruption has ended, and from that time any and all Alternative Volume will be counted against the applicable
Exclusivity Threshold(s). 

  

	(c)	If Ally and Chrysler have not agreed that a Capital Markets Disruption has occurred (i.e., Ally and Chrysler believe that no Capital Markets Disruption has
occurred or only one believes it has occurred), and [***], then: 

  

	 	(i)	[***]; 

  

	 	(ii)	[***]. 

  

	 	(iii)	[***]; 

  

 

	***	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. 

  
 9 

	 	(iv)	[***]. 

 SECTION 3.5 Rate Support.
For Rate Support Subvention Programs: 
  

	(a)	Rate support pricing is based on a [***] methodology, [***]. 

  

	 	(i)	Ally represents to Chrysler that: 

  

	 	(A)	Ally will determine rate support pricing using a base rate calculated consistent with certain of its pre-existing relationships with other OEMs.

  

	 	(B)	The Support Rate will not exceed in any case [***]. 

  

	 	(ii)	Ally will adjust the formula for the calculation of [***]. 

  

	 	(iii)	Ally will be transparent in pricing methodology to Chrysler (including formula and parameters), but Ally has no obligation to reveal information specific to any
other OEMs with which Ally does business. 

  

	 	(A)	On an annual basis, Ally will review its rate support pricing methodology with Chrysler, subject to the terms of this Agreement. 

 

	 	(B)	On a quarterly basis, Ally will advise the Coordinating Committee of any changes in rate support pricing methodology, subject to the terms of this Agreement.

  

	(b)	Ally will establish the Support Rates. 

  

	 	(i)	Ally may vary the applicable Support Rate by factors that [***], in each case consistent with its obligations under Section 3.5(a)(i)(B), (ii), and (iii).

  

	 	(ii)	The parties expect that Support Rates will be in effect for a month at a time, however, Ally may change the Support Rate during a calendar month upon at least
fourteen calendar days’ notice to Chrysler before the effective date of the change. 

  

	(c)	Chrysler will pay to Ally the amount of any Rate Support: 

  

	 	(i)	Discounted to present value at the applicable Support Rate; and 

  

	 	(ii)	Further discounted for expected pre-payments. 

  

	(d)	For each month that a Rate Support payment is due to Ally: 

  

	 	(i)	Ally will send Chrysler an invoice by the fifth business day of the following month indicating the amount of Rate Support payment for the immediately preceding
month (e.g., Ally will send Chrysler an invoice by December 7, 2009 for a Rate Support payment owed for contracts booked in November 2009). 

  

	 	(ii)	 Chrysler will pay Ally the full invoice amount, without setoff, recoupment, or any other deduction (regardless of whether Chrysler disagrees
with the invoice amount), by the 18th calendar day of the
month, or if the 18th calendar day is not also a Business
Day, then by the Business Day that next follows the 18th
calendar 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. 

  
 10 

	 	(iii)	If Chrysler disagrees with the invoice amount, then subject to Section 3.5(d)(ii) above, it may invoke the Dispute resolution process under
Section 15.3 of this Agreement for any disputed portion of the invoiced amount. 

 SECTION 3.6 Leases.

  

	(a)	Ally has no obligation to offer incentivized or standard leases for Chrysler Products. 

 

	(b)	[***]. 

  

	(c)	[***]. 

  

	(d)	[***]. 

  

	(e)	[***]. 

 ARTICLE
IV    DEALER FINANCING 
 SECTION 4.1 General Service Obligations. 

 

	(a)	In the United States (including Puerto Rico on a best efforts basis), Ally will provide full and fair consideration of any application for Dealer Financing
received from a Chrysler Dealer, applying commercial lending credit risk underwriting standards consistent with Ally’s general practices for Dealer Financing and will provide Dealer Financing to the Chrysler Dealer, if appropriate in
Ally’s sole discretion in accordance with its usual and customary commercial lending standards, subject to safety and soundness requirements and, absent a default by the dealer, the minimum guidelines described in Exhibit B of this
Agreement, at the rate of return that Ally considers to be appropriate under the circumstances. 

  

	(b)	Ally’s decision whether to provide Dealer Financing to any Chrysler Dealer will be made in Ally’s sole and absolute discretion and pursuant to its
business judgment, without influence by Chrysler (but this does not prohibit Chrysler from communicating with Ally about Ally’s performance under this Agreement or any other matter). 

 

	(c)	Nothing in this Agreement requires either Chrysler or Ally in its respective good faith business judgment to support the other party or any Ally-Financed Dealer in
resolving any disputes or claims, but rather each party is permitted to support the other if, and to the extent, it wants to do so. 

  

	(d)	Chrysler will use reasonable efforts to facilitate a positive relationship between Ally and Chrysler Dealers and in particular, to promote its association with
Ally to Chrysler Dealers and seek to create an awareness among Chrysler Dealers of benefits available to them by dealing with Ally. 

  

	(e)	Nothing in this Agreement affects Chrysler’s rights or obligations as to any Chrysler Dealer, or Ally’s rights or obligations as to any Ally-Financed
Dealer. 

  
  

	***	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. 

  
 11 

	(f)	Nothing in this Agreement is intended to permit Ally, or to create a right in Ally, to influence any act or omission by Chrysler as manufacturer, seller, and
distributor of Chrysler Products to Chrysler Dealers, or to permit Chrysler, or create a right in Chrysler, to influence any act or omission by Ally as a provider of Dealer Financing to Chrysler Dealers. 

SECTION 4.2 Chrysler Dealer Information. 
  

	(a)	Chrysler will provide to Ally direct access to Chrysler’s information technology systems to facilitate direct billing of new vehicle inventory and to assist
Ally in monitoring accounts and dealer inventories, including, without limitation, dealer sales data, dealer financial data, vehicle price information, and sales and production forecasts, subject in each case to the availability of such data on
Chrysler’s information technology systems and to any requirements of applicable Law. 

  

	(b)	Subject to requirements of applicable Law, Chrysler and Ally will: 

  

	 	(i)	Cooperate in promptly providing information to, and consulting with, each other in good faith with regard to the operating and financial condition of
Ally-Financed Dealers identified by Chrysler or Ally as “troubled dealers”, for the purpose of identifying potential problems, promoting solutions, and minimizing risks to Chrysler and Ally. 

 

	 	(ii)	Use commercially reasonable efforts to notify the other party before implementing any decision terminate its relationship with an Ally-Financed Dealer.

  

	 	(iii)	Upon request from the other party, use commercially reasonable efforts to provide reasonable assistance in resolving issues with Ally-Financed Dealers, including
default and litigation situations, inventory restrictions, suspensions or terminations, requests to divert inventory to other Chrysler Dealers to the extent possible or practicable, options to repurchase new vehicle inventory, and assignment of
funds due from Chrysler, subject to the provisions of this Agreement. 

 SECTION 4.3 Security Enhancements. Chrysler
will not prohibit Chrysler Dealers from providing guaranties and/or additional security or credit enhancements to Ally, including granting a security interest in accounts payable owed by Chrysler to Chrysler Dealers. 

SECTION 4.4 Vehicle Repurchase. Upon a Repurchase Triggering Event as to a Chrysler Dealer, Chrysler will repurchase all new Chrysler
vehicles (including “Chrysler”, “Dodge” “RAM” and “Jeep” branded vehicles) in that Chrysler Dealer’s inventory that were invoiced by Chrysler and financed by Ally after May 1,
2009 (regardless of whether another lender was the original or a subsequent finance source, e.g., dealer trades, re-allocations of inventory by Chrysler, etc.), subject to the following terms and conditions: 

 

	(a)	Chrysler’s obligation to repurchase inventory from a Chrysler Dealer under this Agreement does not apply to any vehicles meeting the following conditions,
unless otherwise required under applicable state franchise law: 

  

	 	(i)	Any vehicle with mileage above [***] miles. 

  

	 	(ii)	Any vehicle with material damage or missing equipment that either: 

  

	 	A.	[***]; or 

  

	 	B.	[***]. 

  

	 	(iii)	Upfit or Chrysler Dealer altered or modified units, except any upfit units re-allocated by Chrysler from one Chrysler Dealer to another (through dealer trades or
otherwise). 

  

	(b)	The periods for Chrysler’s repurchase obligation under this Agreement are as follows: 

 
  

	***	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. 

  
 12 

			
	 	 
	 New vehicles
financed by Ally from and after May 1, 2009:
  
	  	[***] from original invoice date.
	 	 
	 Dealer trade
vehicles from and after May 1, 2009:
  
	  	[***] from original invoice date.
	 	 
	 Inventory
existing before May 1, 2009 and re-allocated by Chrysler as contemplated by the MAFA Term Sheet, dated April 30, 2009 (through dealer trades or otherwise):

 
	  	[***] from re-allocation date.
	 	 
	 Inventory
existing before May 1, 2009 and re-financed by Ally in a “take-out” of the Chrysler Dealer’s lender:
  
	  	[***] from “take-out” date.

 

	(c)	The repurchase price for each repurchased vehicle is the full amount for which Chrysler drafted on Ally, or the amount advanced by Ally, in each case without
deduction for dealer holdback, advertising, transportation, etc. but less any principal reductions already paid to Ally before the repurchase. 

  

	(d)	Chrysler will pay Ally the repurchase price within [***] days of the Repurchase Triggering Event. 

 

	(e)	If Chrysler fails to pay Ally the repurchase price when due, then Chrysler will pay interest on the amount due from the due date until the date of payment at the
then-current interest rate that Ally charges the relevant Chrysler Dealer for Inventory Financing. 

  

	(f)	Any vehicle repurchase will occur at the relevant Chrysler Dealer’s location, or at another location reasonably agreed between the parties that is within
[***] miles of such Chrysler Dealer’s location. 

  

	(g)	Upon Ally’s receipt of the Repurchase Price for a vehicle, Ally will send Chrysler any related document of title, title, and/or certificate of origin that is in
Ally’s actual, physical possession, and in the event the applicable Repurchase Triggering Event is a repossession or voluntary surrender, Ally will use commercially reasonable efforts to obtain such document or certificate.

  

	(h)	Chrysler’s vehicle repurchase obligations under this Agreement are in addition to any applicable state franchise law or other legal requirements related to new
vehicle repurchase (e.g., dealer sales and service agreement). 

  

	(i)	Ally’s security interest in any repurchased vehicle remains fully intact until Ally is paid the repurchase price for the repurchased vehicle.

  

	(j)	Notwithstanding Section 12.1, Chrysler and Ally may terminate the foregoing provisions on vehicle repurchase upon their mutual agreement at any time on a prospective
basis, but vehicles invoiced by Chrysler and/or financed by Ally before the termination effective date remain subject to the foregoing provisions on vehicle repurchase. 

ARTICLE V    OTHER SERVICES 
 SECTION 5.1 Remarketing. Ally will make Remarketing services available to Chrysler Dealers, subject to and in accordance with Ally’s eligibility criteria and other applicable policies.

 SECTION 5.2 [***]: 
  

 

	***	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. 

  
 13 

	(a)	[***]. 

  

	(b)	[***]. 

  

	(c)	[***]. 

 SECTION 5.3 Marketing,
Promotion, and Advertising. Chrysler and Ally will offer each other the following marketing, promotional, and advertising services, subject to mutually agreeable terms and conditions, including costs, outlined in Implementing Agreements.

  

	(a)	As to Consumer Financing: 

  

	 	(i)	Chrysler will include references to “Ally”, and/or “Ally Bank” (as determined by Ally) where appropriate in Chrysler’s advertising and
marketing materials for Subvention Programs in which Ally participates. 

  

	 	(ii)	Chrysler will give good faith consideration to Ally for future affinity-related financial services opportunities (e.g., credit card programs).

  

	 	(iii)	Chrysler will offer Ally opportunities to include messages about Ally products and programs in Chrysler mailings to customers. 

 

	 	(iv)	Ally will offer Chrysler opportunities to include messages about Chrysler Products and programs on billing statements sent to Ally’s Chrysler customers.

  

	 	(v)	Chrysler will offer Ally opportunities to participate in appropriate international, national, regional, and local promotional events sponsored by Chrysler or
with which Chrysler is affiliated. 

  

	 	(vi)	Chrysler and Ally may each offer the other’s employees opportunities to participate in certain marketing programs directed at their own employees.

  

	 	(vii)	Ally and Chrysler will offer each other opportunities to place on their respective websites weblinks to the other’s public websites, so long as the linked
websites are appropriately branded, and the landing page of the Ally linked website does not include links to a website of any other OEM. 

  

	 	(viii)	Ally and Chrysler will handle customer inquiries and complaints about Subvention Programs in which Ally participates, and/or about Chrysler Products that are
properly addressed by the other party by forwarding them in a timely and professional manner to the relevant department of the other party for resolution. 

 

	(b)	As to Dealer Financing Chrysler will: 

  

	 	(i)	Provide Ally reasonable access to Chrysler Dealers to enable Ally to train Chrysler Dealers about Ally products at Ally’s sole cost.

  

	 	(ii)	Allow Ally to participate reasonably in Chrysler-produced or Chrysler-sponsored publications for employee or external audiences. 

 
  

	***	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. 

  
 14 

	 	(iii)	Allow Ally to provide to Chrysler Dealers information about Ally Products and provide Ally reasonable access to Chrysler Dealers through Chrysler websites and
other appropriate Chrysler systems for Chrysler Dealers. 

  

	 	(iv)	Assist Ally in administering and promoting of programs to provide incentives to Chrysler Dealers to use and promote Ally Products. 

 

	 	(v)	Allow Ally to participate reasonably in planning and communicating programs pertaining to Chrysler Dealers. 

 

	(c)	Ally and Chrysler will make joint sales contacts with Chrysler Dealers, customers, and potential customers for fleet and small business sales, as appropriate
with a view to expanding fleet and small business sales profitably. 

  

	(d)	Chrysler will notify Ally about, and will offer Ally reasonable opportunity to participate in, and receive any written materials provided at, scheduled local,
regional, and/or national meetings of Chrysler Dealers, subject to the following: 

  

	 	(i)	Chrysler may in its good faith business judgment determine that: 

  

	 	(A)	Ally’s attendance is not appropriate for a specific portion of any meeting or specific agenda item(s) in a meeting. 

 

	 	(B)	Ally’s receipt of certain written materials is not appropriate, in which case Ally will not attend such portions of the meeting or receive such materials.

  

	 	(ii)	In its discretion, Chrysler may provide Ally with notice of, and an opportunity to attend other meetings pertaining to, marketing plans, incentive strategies, or
tactics. 

 ARTICLE VI    COORDINATING COMMITTEE 

SECTION 6.1 Coordinating Committee. Chrysler and Ally hereby create a committee to be responsible for considerations around joint policies
and programs and coordination of joint activities between them and to serve as the initial arbiter of disputes that cannot be resolved between the parties at the operating level (“Coordinating Committee” or
“Committee”). 
  

	(a)	The total membership of the Coordinating Committee will be between six and ten, as agreed from time to time by the Committee. 

 

	 	(i)	Each of Chrysler and Ally will designate an equal number of Committee members, and each may designate up to five ad hoc members. 

 

	 	(ii)	Members and ad hoc members will be employees of Chrysler (or an affiliate of Chrysler) and Ally, respectively, with a reasonable degree of decision-making
authority in order to facilitate prompt and efficient resolution of matters before the Committee, unless the Committee agrees otherwise. 

  

	 	(iii)	Each of Chrysler and Ally will designate one of their Committee members to be the lead member, who will be the principal point of contact and coordination
outside of formal Committee meetings (“Lead Member”). 

  

	 	(iv)	Additional guests with applicable expertise may attend meetings by invitation of the Committee. 

 

	 	(v)	Schedule I lists the initial members, initial Lead Members, and other initial member designations by Chrysler and Ally to the Committee.

  
 15 

	(b)	The Committee will appoint one of its members as the Committee Chair for purposes of coordinating meeting discussions, and the position of Chair will rotate
between members designated by Chrysler and members designated by Ally each May 1, unless otherwise agreed by the Committee. 

  

	(c)	The Committee will appoint one of its members as Secretary of the Coordinating Committee and the position of Chair will rotate between members designated by
Chrysler and members designated by Ally each May 1, unless otherwise agreed by the Committee. 

  

	 	(i)	If a Chrysler member is the Committee Chair, then the Secretary will be an Ally member, and if an Ally member is the Committee Chair, then the Secretary will be
a Chrysler member. 

  

	 	(ii)	The Secretary will, among other things: 

  

	 	(A)	Work with the Lead Members to prepare an agenda for each meeting; 

  

	 	(B)	Prepare minutes of meetings, which will be circulated to the Lead Members for approval in advance of being finalized and distributed to the Committee and ad hoc
members; and 

  

	 	(C)	Establish an annual calendar of regular meetings. 

  

	(d)	The Committee will hold regular meetings on a monthly basis. 

  

	 	(i)	Each Lead Member may call a special meeting of the Committee, as deemed appropriate. 

 

	 	(ii)	Attendance at any meeting may be by telephone. 

  

	 	(iii)	At least two members from each of Chrysler and Ally are necessary for a quorum at any regular or special Committee meeting. 

 

	 	(iv)	If the person then designated as Chair or Secretary is not present at any meeting, replacement(s) may be established for purposes of that meeting.

  

	(e)	Committee decisions will be by consensus; i.e., Chrysler members collectively have one “vote” and Ally members collectively have one “vote”,
with consensus required for action to be taken. 

  

	(f)	The Committee will conduct an ongoing review of the parties’ joint and independent efforts under this Agreement. 

ARTICLE VII    INFORMATION REPORTS 
 SECTION 7.1 Information, Reports, and Service Level Metrics. Chrysler and Ally will prepare and deliver to each other on a regular, timely basis, such information and reports
as the other reasonably requests or requires from time to time regarding any and all aspects of the Dealings under this Agreement, to the extent that such information or reports are not privileged; subject to contractual or other use and/or
disclosure restrictions; or are reasonably determined to be either too sensitive for disclosure or too burdensome to produce by the disclosing party, in all cases as determined by the disclosing party in its good faith business or legal judgment,
including that: 
  

	(a)	Ally will meet with Chrysler periodically via the Coordinating Committee, as well as upon reasonable request, to discuss current and projected financing needs
for Chrysler Dealers and Consumers, and Ally will periodically provide to Chrysler a funding plan designed to meet these financing needs. 

  

	(b)	Ally will provide to Chrysler through the monthly Coordinating Committee meetings benchmark pricing and standard rates of other automotive retail lenders (on an
anonymized basis, if Ally so chooses). 

  

	(c)	Chrysler will, to the extent authorized to do so (under, for example, dealer sales and service agreements with Chrysler or dealer finance agreements with Ally), provide
to Ally customary information concerning the Ally-financed Chrysler Dealer network, including, monthly dealer financial statements, and daily retail sale reporting. 

  

  
 16 

	(d)	Upon Chrysler’s request, and subject to Section 7.1(g) below, Ally will provide to Chrysler information and regular reports to facilitate Chrysler’s
understanding of wholesale and retail financing dynamics and Ally’s volume, breadth, and depth of credit buying, including the following: 

  

	 	(i)	Daily Application volume and Approvals by FICO Scores (broken down by Prime, Near-Prime and Subprime) and by Credit Tier by business center; 

 

	 	(ii)	Daily cashing volume and rates by Credit Tier and by FICO Scores (broken down by Prime, Near-Prime and Subprime) by business center; and 

 

	 	(iii)	Monthly penetration reports by subvented and standard rates (e.g., book-to-Approval) by vehicle line. 

 

	(e)	The breakdown of [***] will be determined from time to time by the Coordinating Committee. 

 

	(f)	Ally will provide to Chrysler current service level metrics that Ally monitors in the ordinary course of business. 

 

	 	(i)	Ally and Chrysler will mutually agree which of these metrics will be used by the Coordinating Committee to measure Ally’s performance under this Agreement.

  

	 	(ii)	The Coordinating Committee will review the agreed-upon metrics, along with the bi-annual National Auto Dealers Association survey (survey applies only for the United
States), and determine scorecards to apply against these metrics and options to remedy any shortfall in performance as measured against these scorecards from time to time. 

 

	(g)	Ally will provide Chrysler package of OEM reports related to Consumer Financing, which will include information and statistics on Applications (including
Approvals, rejections, and qualifications), contracts booked, terminated contracts, termination schedules, rate and residual support, and other information for the month and for the calendar year-to-date, with most of it available by brand, model,
and/or region. 

  

	(h)	The reports contemplated by this Section 7.1 will be provided in the forms approved by the Coordinating Committee (with any changes subject to approval of the
Coordinating Committee). 

 ARTICLE VIII    OPERATING PRINCIPLES 

SECTION 8.1 Credit Policies. Ally will provide Consumer Financing and Dealer Financing services contemplated by this Agreement under its
credit policies. 
  

	(a)	Ally’s credit policies are the sole responsibility, and under the sole control, of Ally. 

 

	(b)	Upon Chrysler’s reasonable request, Ally will provide to Chrysler copies of Ally’s credit policies currently in effect at the time of the request.

 SECTION 8.2 Risks. 
  

	(a)	Subject to Ally’s credit policies and the terms below, Ally (as opposed to Chrysler) will provide any financing and funding for the Consumer Financing and
Dealer Financing services contemplated by this Agreement and will bear all risks in connection with these services, including credit risk and residual value risk, unless Ally and Chrysler expressly agree otherwise. 

 

	(b)	Any financing and funding by Ally for the Consumer Financing and Dealer Financing services contemplated by this Agreement will be on a non-recourse basis as to
Chrysler, excluding Chrysler’s vehicle repurchase obligations under this Agreement and/or applicable Law, and Chrysler will not bear the credit risk for the financing and funding, in each case unless otherwise mutually agreed
(e.g., in connection with a specific Subvention Program). 

  

 

	***	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. 

  
 17 

 SECTION 8.3 Organizational Set-up. In recognition of the fact that a long-term major customer
of Ally is a principal competitor of Chrysler, Ally will work with Chrysler in good faith to develop mutually agreeable customized service arrangements (collectively “Organizational Set-up”). 

 

	(a)	Ally and Chrysler will work in good faith to agree on a plan for implementing the Organizational Set-up, including milestones and “deliverables”, and
any cost-sharing. 

  

	(b)	As part of the Organizational Set-up efforts, Ally will transition to a dedicated Chrysler sales force in Ally’s metro markets and other regions, as agreed
by Ally and Chrysler, including any exceptions (e.g., multi-franchise operators). 

  

	(c)	As part of the Organizational Set Up Efforts, if Ally maintains a company car fleet for its employees, then Ally will use commercially reasonable efforts to
incorporate Chrysler motor vehicles into such fleet, and as to any such company car fleet. 

  

	 	(i)	Ally will use commercially reasonable efforts to have the proportion of Chrysler vehicles in any such fleet be at least proportional to the outstandings of
Ally’s Chrysler Retail Financing portfolio as compared with the Retail Financing portfolios of other OEMs, so long as Chrysler provides pricing discounts that are substantially similar to, or better than, its volume-incentive program in effect
as of June 30, 2010. 

  

	 	(ii)	Notwithstanding any contrary provision in this Agreement, Ally is not obligated to maintain a company car fleet for its employees. 

 

	(d)	Ally will use commercially reasonable efforts to provide the Consumer Financing, Dealer Financing, Remarketing, and Insurance services contemplated by this
Agreement using a name other than “GMAC”, in each case as soon as reasonably practical. 

 SECTION 8.4
Cross-selling. Chrysler and Ally intend to develop a relationship in which Ally will become Chrysler’s preferred financial services provider, and in this regard Chrysler and Ally will explore in good faith opportunities
cross-selling across their respective customer bases and for revenue sharing, in each case with respect to financial and other services not explicitly described in this Agreement. 
 SECTION 8.5 Form of Customer Agreements. The form and content of all Dealer Financing, Consumer Financing, Remarketing, Insurance and other agreements and documents with Chrysler Dealers and
Chrysler Consumers are in Ally’s sole discretion and responsibility. 
 SECTION 8.6 [***]: 

 

	(a)	[***]. 

  

	(b)	[***]. 

 ARTICLE
IX    UNSECURED EXPOSURE CAP 
 SECTION 9.1 [***]. 

 
  

	***	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. 

  
 18 

	(a)	[***]. 

  

	(b)	[***]. 

  

	(c)	[***]. 

  

	(d)	[***]: 

  

	 	(i)	[***]. 

  

	 	(ii)	[***]. 

 ARTICLE
X    AUDITS BY THE PARTIES 
 SECTION 10.1 Review Rights. Upon at least three Business Days’ prior
notice from one party, the other party will provide reasonable access, during regular business hours, to its files, books, and records pertaining to the services contemplated by this Agreement for the purpose of confirming the other’s
compliance with this Agreement (“Compliance Review”). 
  

	(a)	Neither Ally nor Chrysler is entitled to perform a Compliance Review more than once in any six month period, except that if Chrysler breaches Section 3.3(b)
or 3.3(c), or if Ally breaches Section 3.5(a) or Section 8.6, then in each case the non-breaching party may perform a Compliance Review once every 30 days to audit compliance with those provisions but only until such time as a Compliance
Review demonstrates to the non-breaching party’s reasonable satisfaction that such breach has been cured. 

  

	(b)	Each Compliance Review will be limited in duration, manner, and scope reasonably necessary and appropriate to confirm compliance with this Agreement.

  

	(c)	Neither Ally nor Chrysler is obligated to provide any access or information, if it would violate any obligation of confidentiality or applicable Law or other
legal restriction, but in such cases the parties will reasonably cooperate to facilitate independent third party expert review, to the extent reasonably and legally possible, of any information relevant to any provisions of this Agreement that may
otherwise be subject to any such Law or other legal restriction. 

  

	(d)	Compliance Audits by either party must be conducted by individuals who have sufficient knowledge and expertise regarding the matters being audited.

  

	(e)	Neither Chrysler nor Ally is required to “train” the other’s auditors regarding the matters being audited. 

 
  

	***	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. 

  
 19 

 ARTICLE XI    INTELLECTUAL PROPERTY LICENSES 

SECTION 11.1 License of Ally Name, Logo, Trademark. Effective upon Ally’s notice to Chrysler, Ally hereby grants to Chrysler a
royalty-free, non-exclusive, non-transferable sublicense to use and display the “Ally” name, logo, and trademark, (individually and collectively “Ally Marks”) in performing the services contemplated by this Agreement and
otherwise in connection with Chrysler’s business related to Ally and/or Ally Bank (“Ally License”). 
  

	(a)	Chrysler will not, during the term of this Agreement or thereafter: 

 

	 	(i)	Attack the validity of the Ally Marks. 

  

	 	(ii)	Do or permit to be done any act or thing that will in any way impair the rights of Ally as to the Ally Marks. 

 

	 	(iii)	Attempt to register the Ally Marks alone or as part of its own trademarks. 

 

	 	(iv)	Use or attempt to register any marks confusingly similar to the Ally Marks. 

 

	(b)	Chrysler may sublicense its rights under this Agreement to use any of the Ally Marks for purposes related to the performance of its obligations under this
Agreement, but any such sublicense terminates upon the termination of this Agreement, except to the extent necessary to comply with Section 12.1(c) below. 

 

	(c)	Chrysler will use and display the Ally Marks only in the form, color, dimension, and manner approved by Ally. 

 

	(d)	The Ally License terminates when this Agreement expires or terminates, except to the extent necessary to comply with Section 12.1(c) below.

 SECTION 11.2 License of Chrysler Names, Logos, Trademarks. Chrysler hereby grants to Ally a royalty-free,
non-exclusive, non-transferable sublicense to use and display the “Chrysler”, “Dodge”, “Jeep”, “Mopar”, and “RAM” names, logos, and trademarks, and the Pentastar
logo and trademark, (individually and collectively “Chrysler Marks”) in performing its obligations under this Agreement and otherwise in connection with Ally’s business related to Chrysler (“Chrysler License”).

  

	(a)	Ally will not, during the term of this Agreement or thereafter: 

  

	 	(i)	Attack the validity of the “Chrysler” trademark. 

  

	 	(ii)	Do or permit to be done any act or thing which will in any way impair the rights of Chrysler as to any “Chrysler” trademark. 

 

	 	(iii)	Attempt to register “Chrysler” trademarks alone or as part of its own trademarks. 

 

	 	(iv)	Use or attempt to register any marks confusingly similar to any “Chrysler” trademark. 

 

	(b)	Ally will use and display the Chrysler Marks only in the form, color, dimension, and manner approved by Chrysler. 

 

	(c)	Ally may sublicense its rights under this Agreement to use any of the Chrysler Marks for purposes related to the performance of its obligations under this
Agreement, but any such sublicense terminates upon the termination of this Agreement, except to the extent necessary to comply with Section 12.1(c) below. 

 

	(d)	The Chrysler License terminates when this Agreement expires or terminates, except to the extent necessary to comply with Section 12.1(c) below.

  
 20 

 ARTICLE XII    TERM AND TERMINATION 

SECTION 12.1 Term and Termination. The initial term of this Agreement is four years starting April 30, 2009 and expiring
April 30, 2013, and the term renews automatically for successive one year terms, unless either Chrysler or Ally notifies the other in writing at least twelve months before the end of the Initial Term or any renewal term that it does not want to
renew the Agreement. 
  

	(a)	Notwithstanding the foregoing, the duration of Implementing Agreements will be governed by provisions concerning term and termination contained in such
Implementing Agreements. 

  

	(b)	This Agreement may be terminated as follows: 

  

	 	(i)	The non-breaching party may terminate this Agreement upon a breach by the other party that materially affects the non-breaching party reasonably anticipated
benefits under this Agreement, and such breach, if curable, is not cured within 30 days of receipt of written notice from the non-breaching party; 

  

	 	(ii)	Chrysler may terminate this Agreement at any time upon written notice to Ally, if Ally becomes, or if Ally Controls, is Controlled by, or is under common Control with,
an OEM that competes with Chrysler. This termination right will not be triggered solely by common Control attributable to Ally and such OEM currently, or during the term of this Agreement, being under the common Control of the United States
government or any part of the United States government (for example, if Ford Motor Company comes under United States government Control, that fact alone would not trigger Chrysler’s right to terminate this Agreement, but, for example, if
General Motors LLC were to acquire Control of Ally, that fact would trigger such right.) 

  

	 	(iii)	The parties may mutually agree to terminate this Agreement. 

  

	(c)	Upon the expiration or termination of this Agreement for any reason, Chrysler and Ally will: 

 

	 	(i)	To the extent reasonably requested by the other, fully cooperate in any transfer of any servicing functions contemplated by this Agreement to a third party; and

  

	 	(ii)	Complete performance of any pending, “in-progress” obligations according to such standards, including confidentiality, security and accuracy, as were
in effect under this Agreement prior to its termination and compensate each other for such services to the same extent as if such services had been performed during the Term of this Agreement. 

 

	(d)	The provisions of Article XIII and Article XIV survive the expiration or termination of this Agreement and remain in force and effect for three years following
such termination or expiration, and Section 4.4 survives the expiration or termination of this Agreement in accordance with Section 4.4(j). 

 ARTICLE XIII    INDEMNIFICATION, LIABILITIES, AND REMEDIES 
 SECTION
13.1 Indemnification. Recognizing that if Chrysler or Ally is the subject of a third party legal or enforcement action (regarding, for example in the case of Ally, credit decisions, credit documentation, and financing activities within
Ally’s responsibilities, and for example in the case of Chrysler, product warranty, product liability, and manufacturing and distribution activities within Chrysler’s responsibilities), the other may be named in the action also because of
the parties’ relationship under this Agreement: 
  

	(a)	 Chrysler and Ally, respectively, will indemnify the other party’s and the other party’s Subsidiaries; directors; officers; employees;
and representatives, in each case, in their capacities as such, against any and all damages, claims, causes of action, losses, and/or other liabilities incurred and arising from such party’s business or operations (i.e., in the case of
Ally where the liabilities are primarily and 

  
 21 

	 	 
traditionally are Ally’s as a financial services provider and in the case of Chrysler, where the liabilities are primarily and traditionally are Chrysler’s as a manufacturer), in each
case to the extent related to a third party legal or enforcement action (“Indemnifiable Claim”). 

  

	 	(i)	The party seeking indemnification (“Indemnitee”) must notify the other party of any third party action that may be an Indemnifiable Claim
brought against the Indemnitee as promptly as reasonably practical; however, any failure to provide such notice does not relieve the indemnifying party from its indemnity obligations under this Agreement. 

 

	 	(ii)	The party from whom indemnification is sought (“Indemnitor”) may assume full control of the defense of the Indemnifiable Claim.

  

	 	(iii)	If the Indemnitor does not assume control of the defense of the Indemnifiable Claim within a reasonable time of receiving notice of it from the Indemnitee and
Indemnitee is prejudiced by such delay, then the Indemnitee may assume control of the defense of it, with full recourse against the Indemnitor for all costs and expenses incurred in connection with the defense and/or settlement of the Indemnifiable
Claim. 

  

	 	(iv)	The Indemnitee and Indemnitor will reasonably cooperate with each other in defense of the Indemnifiable Claim, regardless of which party has assumed control of
the defense of it. 

  

	 	(v)	Neither the Indemnitee nor the Indemnitor may settle any third party claim related to the services provided under this Agreement without the prior written
consent of the other party, which will not be unreasonably withheld, and without obtaining the unconditional release of the other party from all liability to the third claimant(s). 

 

	(b)	If the indemnifiable damages, claims, causes of action, losses, and/or other liabilities arise out of the parties’ joint activities, then the parties will
apportion the damages, claims, causes of action, losses, and/or other liabilities in good faith and in a fair manner under the circumstances. 

 SECTION 13.2 Limitation on Liability. Neither party will be liable to the other party: 
  

	(a)	In tort, except for gross negligence or willful misconduct. 

  

	(b)	For equitable claims (but not including equitable remedies). 

  

	(c)	For claims arising out of any contract with any customer, dealer, or other third party or otherwise in connection with their relationship with such Persons.

 SECTION 13.3 Limitation on Damages. Neither party is liable under this Agreement for any: 

 

	(a)	Damages caused by a Force Majeure Condition as defined in Section 15.6 below; or 

 

	(b)	Indirect, incidental, consequential, or non-economic damages. 

 SECTION 13.4 Equitable Remedies. Nothing in this Agreement restricts either party’s ability to seek equitable remedies (as distinguished from claims), including specific performance of
a party’s obligations under this Agreement. 
 SECTION 13.5 Cumulative Remedies. Each party’s rights and remedies under,
and/or in connection with, this Agreement are cumulative and may be exercised singly, concurrently, and/or successively in the exercising party’s sole, absolute discretion. 

ARTICLE XIV    CONFIDENTIALITY 
 SECTION 14.1 Nondisclosure of Confidential Information. Neither party will use or disclose any Confidential Information of the other party or the terms of this Agreement, except: 

  
 22 

	(a)	To its Representatives who have agreed to comply with the nondisclosure and use restrictions of this Agreement, and then only to the extent reasonably necessary
for the disclosing party to perform its obligations under this Agreement or any Implementing Agreement. 

  

	(b)	To its Subsidiaries that do not compete with the other party; its board of directors; and/or its external auditors. 

 

	(c)	To the extent expressly consented to by the other party. 

  

	(d)	To the extent required to be disclosed by any of the following, but before making any such disclosure the disclosing party will notify the other party of any
such requirement to the extent legally permitted, so that such other party may seek an appropriate protective order at such other party’s sole cost and expense: 

 

	 	(i)	Order of a court of competent jurisdiction, administrative agency, or governmental body. 

 

	 	(ii)	By subpoena, summons, or other compulsory legal process. 

  

	 	(iii)	Law, regulation, or rule. 

  

	 	(iv)	In connection with any judicial or other adjudicatory proceeding in which Chrysler or Ally is a party. 

SECTION 14.2 Nondisclosure of Chrysler Dealer and Chrysler Consumer Information. Subject to Section 14.1(c) and 14.1(d) above, Ally
will not directly or indirectly share data about Chrysler Dealers or their customers with other OEMs, authorized vehicle distributors, or authorized vehicle dealers, absent the consent of Chrysler and the affected Chrysler Dealers or their customers
(as applicable), and will put in place appropriate safeguards to protect such information from unauthorized disclosure. 
  

	(a)	The foregoing restrictions do not apply to Ally’s “own experience” data about Chrysler Dealers or their customers or to data that is otherwise
public. 

  

	(b)	Upon termination of this Agreement, Ally and Chrysler will work in good faith to agree on parameters for sharing of information about Chrysler customers
contained in Ally’s customer database. 

 SECTION 14.3 Information Security. Chrysler and Ally will take
reasonably necessary technical and organizational precautions to ensure that each other’s Confidential Information is protected from unauthorized access, alteration, disclosure, erasure, manipulation and destruction by third parties while such
information is in its possession or control and will ensure that such information is not processed in other ways contradictory to privacy and/or data protection laws. 
  

	(a)	Upon written request, Chrysler and Ally will provide each other reasonable information regarding the processing of such information, including where and how such
information is stored, who has access to such information and why and what security measures are taken to ensure that such information is protected from unauthorized access, alteration, disclosure, erasure, manipulation and destruction while in its
possession or control. 

  

	(b)	Chrysler and Ally will maintain sufficient procedures to detect and respond to security breaches involving Confidential Information and will inform each other as
soon as practicable when either of them suspects or learns of malicious activity involving such Confidential Information, including an estimate of the activity’s effect on the other and the corrective action taken. 

SECTION 14.4 Data Privacy. Chrysler and Ally each will treat the other’s Confidential Personal Information confidentially and use or
disclose Confidential Personal Information only in connection with providing Consumer Financing Services and their other obligations under this Agreement. 
  

	(a)	 Chrysler and Ally each will restrict disclosure of Confidential Personal Information in their possession or control to their employees and/or
representatives who have a need to know such 

  
 23 

	 	 
information in connection with providing Consumer Financing Services and the performance of their respective obligations under this Agreement. 

 

	(b)	Unless otherwise prohibited by law, Chrysler and Ally each will immediately notify the other party of any legal process served on such party for the purpose of
obtaining Confidential Personal Information and, prior to disclosure of any Confidential Personal Information in connection with such process, use commercially reasonable efforts to give the other party adequate time to exercise its legal options to
prohibit or limit such disclosure. 

  

	(c)	Chrysler and Ally each will implement appropriate measures designed to meet the following objectives: 

 

	 	(i)	Ensure the security and confidentiality of Confidential Personal Information; 

 

	 	(ii)	Protect against any anticipated threats or hazards to the security or integrity of such information; and 

 

	 	(iii)	Protect against unauthorized access to or use of such information that could result in substantial harm or inconvenience to the person about whom the
Confidential Personal Information refers. 

  

	(d)	Within ten days following termination of this Agreement or ten days following the completion of a project for which the Confidential Personal Information has
been provided, whichever first occurs, upon the other party’s request, Chrysler or Ally, as the case may be, will: 

  

	 	(i)	Return the other party’s Confidential Personal Information to such other party; or 

 

	 	(ii)	Certify in writing to such other party that such Confidential Personal Information has been destroyed in such a manner that it cannot be retrieved.

  

	(e)	Chrysler and Ally will notify each other promptly upon the discovery of any loss, unauthorized disclosure, unauthorized access, or unauthorized use of the
other’s Confidential Personal Information and will indemnify the other party for such loss, unauthorized disclosure, unauthorized access or unauthorized use, including reasonable attorney fees in accordance with the terms and conditions of
Section 13.1 of this Agreement. 

 ARTICLE XV    MISCELLANEOUS 

SECTION 15.1 Representations and Warranties. Chrysler and Ally each hereby represent and warrant to the other that, as of the date of this
Agreement: 
  

	(a)	It is an entity duly organized, validly existing, and in good standing under the laws of the jurisdiction in which it was formed and has all requisite power and
authority to enter into and perform all of its obligations under this Agreement. 

  

	(b)	The execution, delivery and performance of this Agreement by it have been duly authorized by all requisite action on its part. 

 

	(c)	This Agreement constitutes a valid and binding obligation of it and is enforceable against it in accordance with its terms. 

 

	(d)	The execution and performance of this Agreement by it will not: 

  

	 	(i)	Violate any provision of applicable law. 

  

	 	(ii)	Conflict with the terms or provisions of its organizational or governance documents, or any other material instrument relating to the conduct of its business or
the ownership of its property. 

  

	 	(iii)	Conflict with any other material agreement to which it is a party or by which it is bound. 

  
 24 

	(e)	There are no actions, suits, proceedings or other litigation or governmental investigations pending or, to its knowledge, threatened, by or against it with
respect to this Agreement or in connection with the dealings contemplated by this Agreement. 

  

	(f)	There is no order, injunction, or decree outstanding against, or relating to, it that could reasonably be expected to have a material adverse effect upon its
ability to perform its obligations under this Agreement. 

 SECTION 15.2 No Waiver of Rights or Remedies. Any
forbearance, delay, or failure by Chrysler or Ally in exercising any of its respective rights or remedies does not constitute a waiver of such rights or remedies or of any existing or future default under this Agreement. 

SECTION 15.3 Dispute Resolution. Any dispute, controversy, claim, or disagreement arising from or in connection with this Agreement
(“Dispute”), will be exclusively governed by and resolved in accordance with the provisions of this Section 15.3, and except as provided in this Section 15.3, neither party will seek judicial relief of any Dispute.

  

	(a)	Any Dispute that cannot be resolved at the working level will, in the first instance, be submitted to each member of the Coordinating Committee before the next
scheduled Coordinating Committee meeting. 

  

	(b)	If at formal Coordinating Committee meeting or within ten business days thereafter (unless a different time is agreed to by the Coordinating Committee) the
Coordinating Committee is unable to resolve any such Dispute, the Dispute will immediately be escalated to the Ally President and the Chrysler Chief Financial Officer, or their designees for the particular matter, for resolution.

  

	(c)	Any Dispute that is not resolved by the Ally President and the Chrysler Chief Financial Officer (or their designees for the particular matter) within 30 days of
submission to them will immediately be escalated to the Ally Chief Executive Officer and Chrysler Chief Executive Officer. 

  

	(d)	If a Dispute is not resolved within 90 days of the date of escalation to the Ally President and Chrysler Chief Financial Officer, either party may pursue legal
remedies. 

  

	(e)	This Section 15.3 does not limit either party’s right to apply to a court of competent jurisdiction for equitable, provisional relief with respect to
any Dispute pending the resolution of the Dispute pursuant to this Section 15.3. 

 SECTION 15.4 Venue and Jury Trial
Waiver. Any suit, action, or proceeding brought by a party against the other party arising out of or relating to this Agreement or any transaction contemplated by it will be brought in any federal or state court located in the city, county,
and State of New York. 
  

	(a)	Each party hereby submits to the exclusive jurisdiction of any federal or state court located in the city, county, and State of New York for the purpose of any
such suit, action or proceeding. 

  

	(b)	Service of any process, summons, notice or document by registered mail to such party’s respective address set forth in this Agreement for notice will be
effective service of process for any action, suit or proceeding in the State of New York with respect to any matters to which it has submitted to jurisdiction in this Section. 

 

	(c)	Each of Ally and Chrysler, respectively, hereby irrevocably waives any and all right to trial by jury in any legal proceeding arising out of or relating to this
Agreement or the transactions contemplated by it. 

 SECTION 15.5 Notices. Except for notices, requests, and other
communications regarding operational matters (e.g., drafting authorizations, credit line suspension notices), which each party currently sends, and historically has sent, to individuals at the operational levels of the other party
(“Operational Notices”), all legal notices, requests, and other communications to either party required by or permitted under this Agreement (“Notices”) must be in writing, including facsimile transmittal, and sent
to the 

  
 25 

 
addresses indicated below, or at such other address to the attention of such other person as either party may designate by written notice to the other party: 

 

			
	To Chrysler:	  	To Ally:
	1000 Chrysler Drive	  	200 Renaissance Center
	Auburn Hills, MI 48326	  	Mail Code 482-B12-D11
	Attention: General Counsel	  	Detroit, MI 48265
	Facsimile: 248-512-1772	  	Attention: President
		  	Facsimile: 313-656-5202

  

	(a)	All Notices other than Operational Notices are deemed given and received as follows: 

 

	 	(i)	If given by mail or nationally recognized, reputable commercial delivery service: the second Business Day after the Notice is sent or the date the recipient
actually receives it. 

  

	 	(ii)	If given by facsimile or e-mail: when the facsimile or e-mail is transmitted to compatible equipment in the possession of the recipient and confirmation of
complete receipt is received by the sending party during normal business hours or on the next Business Day if not confirmed during normal business hours. 

  

	 	(iii)	If given by hand delivery against a receipted copy: when the copy is receipted 

 

	(b)	Operational Notices may be given in any manner consistent with ordinary commercial practices, including telephone, e-mail, and/or facsimile.

 SECTION 15.6 Force Majeure. Neither Chrysler nor Ally is liable for a delay in performance or failure to perform
any obligation under this Agreement to the extent such delay is due to causes beyond its control and is without its fault or negligence, including, natural disasters, governmental regulations or orders, civil disturbance, war conditions, acts of
terrorism or strikes, lock-outs or other labor disputes (“Force Majeure Condition”). The performance of any obligation suspended due to a Force Majeure Condition will resume as soon as reasonably possible as and when the Force
Majeure Condition subsides. 
 SECTION 15.7 Relationship of the Parties. Nothing contained in this Agreement creates or will be
construed as creating a joint venture, association, partnership, franchise, or agency relationship between Chrysler and Ally. 
 SECTION 15.8
Severability. If a court of competent jurisdiction holds that any part of this Agreement is invalid or unenforceable under applicable law, all other parts remain valid and enforceable. 

SECTION 15.9 Assignment. Neither Chrysler nor Ally may assign this Agreement in whole or in part without the other party’s prior
express written. 
 SECTION 15.10 Miscellaneous. This Agreement: 

 

	(a)	May be changed only by a writing signed by both parties. 

  

	(b)	Binds, and inures to the benefit of the parties’ respective successors and assigns. 

 

	(c)	Is not intended to, and does not, create any rights in any third party. 

  

	(d)	May be signed in one or more counterparts, each of is deemed an original, and all of which taken together constitute one and the same agreement.

  

	(e)	Is governed by, and construed in accordance with, the laws of New York, without regard to its conflict of laws principles. 

  
 26 

	(f)	Constitutes the entire agreement of the parties regarding its subject matter and supersedes any and all prior oral or written agreements or understandings (each
of the Service Provider Agreement and related confidentiality side letter agreement, each dated March 9, 2010, between Chrysler and Ally; the Marketing Agreement between GMAC Risk Services Inc. and Chrysler; and guaranties of dealership
obligations that Chrysler signed in favor of Ally, are separate agreements and are not affected by this Section 15.10(f)). 

  

			
	ALLY FINANCIAL INC.	  	CHRYSLER GROUP LLC
		
	Signature:         /s/ William F.
Muir                        	  	Signature:         /s/ Richard
Palmer                        
		
	By (print name):     William F.
Muir                      	  	By (print name):     Richard
Palmer                      
		  	
		
	Title:
    President                                   
                 	  	 Title:   Senior Vice President
and                        
             Chief Financial
Officer                              

		  	
		
	Date:                             
                                         
  	  	Date:                             
                                         
  

  
 27 

 EXHIBIT A—FORM OF OPT-IN AGREEMENT 

To: [Ally/Chrysler] 
 Ally Financial Inc.
(“Ally”) and Chrysler Group LLC (“Chrysler”) have entered into the Auto Finance Operating Agreement (“Operating Agreement”) under which Ally provides certain services to Chrysler. [insert subsidiary name]
(“Subsidiary”) desires to enjoy the rights and benefits under and flowing from the Operating Agreement. Therefore, Subsidiary hereby adopts for itself, and binds itself to, all of the terms and conditions of the Operating Agreement and any
amendments thereto executed by Ally and Chrysler, with or without prior consultation with Subsidiary, as though Subsidiary is an original party to the Operating Agreement, with the exceptions as specified below. Upon opting in to the Agreement, as
to “Subsidiary”, references to “Chrysler” or “Ally”, as applicable, in the Agreement refer to Subsidiary, and references to “party” refer to “Subsidiary”. Subsidiary agrees that it may not do either
of the following absent Ally’s and Chrysler’s prior written consent: 
  

	 	1.	Assign this Opt-in Agreement, or the rights and obligations under it or the Operating Agreement, to anyone; or 

 

	 	2.	Terminate this Opt-in Agreement. 

Exceptions required by local legal requirements and commercial practice: 
 [insert, if any] 
 This Opt-in Agreement is effective upon the occurrence of all of the following:

  

	 	1.	Execution of this Opt-in Agreement by Subsidiary; and 

  

	 	2.	Acceptance of any exceptions by [Ally/Chrysler]. 

[insert subsidiary name] 

By:                        
                                        

Title:                        
                                     

Date:                        
                                     

Exceptions accepted by Ally 

By:                        
                                        

Title:                        
                                     

Date:                        
                                     

 

  
 28 

 EXHIBIT B—STEADY STATE GUIDELINES 

[***] 
  

 

	***	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. 

  
 29 

 EXHIBIT C— Pre-existing Ally-Financed Dealers 

[Omitted] 

  
 30Shareholders' Agreement relating to Eurex Zurich AG, dated August 31, 1998

 Exhibit 10.59 
 CONFIDENTIAL MATERIAL HAS BEEN OMITTED FROM THIS EXHIBIT AND 
 FILED
SEPARATELY WITH THE COMMISSION. PORTIONS OF THIS EXHIBIT 
 CONTAINING CONFIDENTIAL MATERIAL DENOTED WITH “ * ”

 UNOFFICIAL TRANSLATION 
 Shareholders’ Agreement 
 between 

Deutsche Börse AG 
 Frankfurt 
 (“DBAG”) 

and 

Schweizer Börse 
 Zurich 
 (“SWX”) 

relating to their joint participation in Eurex Zürich AG, Zurich, 

and its subsidiaries. 

  
 -1-

	1.	Preamble 

 1.1 

DBAG and SWX have decided to create an exchange organisation for the electronic trading of derivative products through technical and organisational
harmonisation. 
 The Eurex project is intended to create a cross-border unit of two electronic markets forming a single market from the trading
participants’ perspective. The derivatives market of Deutsche Terminbörse (“DTB”) and that of the Swiss SOFFEX are to form a single market in the technical sense. 
 Eurex trading participants will be admitted to trading on both the Eurex Deutschland exchange facility as well as the Eurex Switzerland exchange facility. In this respect they will be subject to a largely
harmonised set of rules and regulations and trade all products on a single platform. In relation to clearing, there will be just one clearing access with one position for all products, one margin system and just one interface for each settlement
system 
 1.2 
 Eurex shall consist of
three legal entities: Eurex Zürich AG, Eurex Frankfurt AG and Eurex Clearing AG (“Eurex Companies”). DBAG and SWX shall each hold 50% of the capital and voting rights of Eurex Zürich AG (formerly Soffex AG) with its seat in
Zurich. Eurex Zürich AG shall, for its part, hold a 100% participation in Eurex Frankfurt AG, which has its seat in Germany and is the operator of the German exchange facility (Eurex Deutschland). The persons appointed to the governing bodies
of Eurex Frankfurt AG (Supervisory Board and Management Board) shall be the same as those appointed to the Board of Directors and Executive Board of Eurex Zürich AG. The integrated clearing organisation of Eurex shall be located in Germany
(Eurex Clearing AG as wholly-owned subsidiary of Eurex Frankfurt AG). 
 Further details regarding the project’s legal structure are set
forth in the strategy paper on the presentation and structure from a legal point of view, which has been appended hereto as Annex 1. 

1.3 
 Eurex Zürich AG shall operate the
derivatives exchange for SWX in Switzerland, while Eurex Frankfurt AG shall operate the derivatives exchange in Germany for Deutsche Börse Terminmarkt GmbH (“Terminmarkt GmbH”; formerly Eurex Frankfurt GmbH), a wholly-owned subsidiary
of DBAG. On the Swiss side, SWX shall provide Eurex Zürich AG with all equipment and human resources necessary for operating the exchange. On the German side, Eurex Frankfurt AG shall receive the corresponding rights, equipment and human
resources from DBAG or Terminmarkt GmbH. 

  
 -2-

 1.4 
 This Agreement entered into by the Parties governs, in particular, the following matters: 
  

	•	 	 co-operation of the Eurex Companies among themselves, with the Parties and their subsidiaries; 

 

	•	 	 the structure of the trading and clearing operations on Eurex; 

 

	•	 	 the exercise of control over the Eurex Companies; 

  

	•	 	 the management of the transfer of shares of Eurex Zürich AG; 

 

	•	 	 the exercise of DBAG’s control over Terminmarkt GmbH; 

 

	•	 	 the Parties’ obligations regarding the financing and capital contributions to Eurex Zürich AG; 

 

	•	 	 the key elements of the software licence agreement and any lease agreements relating to network usage and use of the EDP system, which is essential for
operations; 

  

	•	 	 the key elements of the planned contracts of agency (Geschäftsbesorgungsverträge) between the partners and Eurex;

  

	•	 	 further steps of expansion; 

  

	•	 	 the co-operation with third parties; 

  

	•	 	 the termination. 

 1.5

 According to the articles of association, the primary purpose of Eurex Zürich AG is to operate a transnational exchange organisation for
the electronic trading of financial derivative products and the operation of a clearing organisation. Furthermore, Eurex Zürich AG may also establish branches and subsidiaries domestically and abroad. 

The Parties agree that the articles of association of Eurex Zürich AG shall be drafted in accordance with Annex 2 and that the General
Meeting shall elect the President of the Board of Directors. 
  

	2.	Participation by additional exchanges 

The aim is to include additional exchanges in Eurex’s activities. The specific course of action to be adopted shall be specified in a written
agreement between the Parties. Such agreement shall also stipulate, inter alia, the necessary amendments to the articles of association, the organisational regulations, the board rules of procedure and the present Shareholders’
Agreement. 
 Should the participation of additional exchanges under the terms of stock corporation law be agreed upon, the Parties undertake to
reorganise Eurex’s corporate structure as follows: A holding company will be established whose object according to the articles of association will be the strategic management of the exchange operating companies in the different countries and
of the clearing facility. With respect to the holding company, the Parties shall lodge an application with the Swiss federal 

  
 -3-

 
authorities for an exemption pursuant to article 708 para. 1 sentence 2 of the Swiss Law of Obligations (Schweizerisches Obligationenrecht). 

 

	3.	Voting and pooling agreements 

  

	3.1	Eurex Zürich AG 

 The Parties
undertake to exercise their voting right in the General Meeting and Board of Directors (themselves or through their representatives) as follows: 
  

	•	 	 DBAG shall appoint two and SWX one member to the Board of Directors. The Parties shall mutually agree on any additional members.

  

	•	 	 In the future also, DBAG shall have the right to majority representation on the Board of Directors. 

 

	•	 	 The Parties may each have an equal number of managers. The Parties shall reach an understanding on the Management Board’s composition and
chairman. 

  

	•	 	 A large and international audit firm shall act as statutory auditor pursuant to article 10 of the Swiss Ordinance on Stock Exchange and Securities
Trading (Verordnung über die Börsen und den Effektenhandel – BEHV). The current audit firm is KPMG Fides Peat, Zurich. 

  

	3.2	Eurex Frankfurt AG and Eurex Clearing AG 

The Parties undertake to instruct their representatives as set forth below and to ensure that the relevant boards are composed as follows: 

 

	•	 	 The Supervisory Board shall be composed of the same persons as those appointed to the Board of Directors of Eurex Zürich AG. The requirement that
the members of the German company’s Supervisory Board and those of the Board of Directors of Eurex Zürich AG must be the same persons may be deviated from to the extent that, in the event of a member of the Board of Directors of Eurex
Zürich AG being replaced, it should become necessary (for purposes of satisfying the requirements under article 708 para. 1 of the Swiss Law of Obligations) to appoint to the Board of Directors a Swiss citizen resident in Switzerland,
who is not at the same time a member of the Management Board of DBAG. 

  

	•	 	 The Management Board shall be composed of the same persons as the Executive Board of Eurex Zürich AG. 

 

	3.3	Terminmarkt GmbH 

 DBAG represents and
warrants that Terminmarkt GmbH shall also act in accordance with the provisions of this Agreement and the resolutions adopted thereunder. DBAG undertakes, in particular, to exercise its voting right in the General Shareholders’ Meeting of
Terminmarkt GmbH in conformance therewith and to instruct its representatives in Terminmarkt GmbH accordingly. 

  
 -4-

	4.	Persons initially appointed to the governing bodies 

 The Parties have agreed that the governing bodies shall be composed of the following persons: 
  

	•	 	 The Board of Directors of Eurex Zürich AG and the Supervisory Board of Eurex Frankfurt AG as well as the Supervisory Board of Eurex Clearing AG
shall comprise the following members: 

 Dr. J. Fischer (President) (appointed by SWX) 

Dr. Werner G. Seifert (Vice President) (appointed by DBAG) 

Dr. Reto Francioni (appointed by DBAG) 
 The Board of Directors may appoint a Secretary who need not be a member of the Board of Directors and who attends the meetings in an advisory capacity. The Board of Directors may additionally appoint a
keeper of the minutes. The Board of Directors shall be supplemented by three members proposed by DBAG and three proposed by SWX from among the market participants. 
  

	•	 	 The Executive Board of Eurex Zürich AG and the Management Board of Eurex Frankfurt AG as well as the Management Board of Eurex Clearing AG shall
be composed of the following members: 

 Dr. Jörg Franke (Chairman) (appointed by DBAG) 

Otto E. Nägeli (appointed by SWX) 
 Andreas Preuss (appointed by DBAG) 
 Jürg Spillman (appointed by SWX)

 If no majority vote can be attained in the adoption of resolutions by the Executive Board or the Management Board, the Chairman shall have
the casting vote. 
 The above named persons will be proposed to the Exchange Council of the Eurex Deutschland exchange facility as candidates
for the management of the Eurex Deutschland exchange facility. 
  

	5.	Group structure 

 The group structure of
Eurex is illustrated in Annex 3. 
  

	6.	Unanimous vote for important resolutions 

  

	6.1	Eurex Zürich AG 

 The resolutions of
the Board of Directors of Eurex Zürich AG shall require the consent of all members of the Board of Directors where the following matters are concerned: 
  

	•	 	 issues relating to the principles of company policy; 

  
 -5-

	•	 	 appointment and dismissal of the head of the Internal Surveillance Office, the statutory auditor appointed pursuant to the Swiss stock exchange laws,
the members of the Appeals Board; 

  

	•	 	 establishing and amending the organisational regulations, the board rules of procedure and the distribution-of-business plan;

  

	•	 	 conclusion, amendment and termination of contracts of agency, licensing agreements and service agreements with other Eurex Companies, with the Parties
and with their subsidiaries; 

  

	•	 	 issue and amendment of the exchange regulations; 

  

	•	 	 establishment of branches and subsidiaries in the event these will perform any exchange operating functions (trading or clearing);

  

	•	 	 authorisation of the transfer of Eurex shares (including exercise of any subscription rights that may have been sold); the authorisation shall be
granted if the provisions of article 11 have been complied with. 

 The Parties shall instruct their representatives on
the Board of Directors of Eurex Zürich AG to adopt the organisational regulations appended hereto as Annex 4 and the board rules of procedure appended hereto as Annex 5. 

 

	6.2	Eurex Frankfurt AG and Eurex Clearing AG 

The Parties shall exert their influence to the extent that resolutions on the following matters arising at Eurex Frankfurt AG and Eurex Clearing AG shall
require the consent of all members of the Supervisory Board or Management Board: 
  

	•	 	 issues relating to the principles of company policy; 

  

	•	 	 establishing and amending the board rules of procedure 

 

	•	 	 conclusion, amendment and termination of contracts of agency, licensing agreements and service agreements with other Eurex Companies, the Parties and
with their subsidiaries; 

  

	•	 	 availment of the letters of comfort; 

  

	•	 	 appointment and dismissal of the statutory auditor; 

  

	•	 	 establishment of branches and subsidiaries in the event these will perform any exchange operating functions (trading or clearing);

  

	•	 	 authorisation of the transfer of Eurex shares (including exercise of any subscription rights that may have been sold); the authorisation shall be
granted if the provisions of article 11 have been complied with. 

  
 -6-

	7.	Software 

 Eurex rests on the technical
base of the present DTB software to which DBAG holds the copyrights. The DTB software originally resulted from an earlier version of the current Soffex software and was licensed to DBAG by SWX. The software was and will be developed further to a
considerable extent prior to the start of operations of Eurex. The first step in such development produced the multi-currency ability (Release 1.0) with rollout on 11 May 1998. The joint Eurex platform (Release 2.0) has been planned as a
further step towards expansion (planned start of production is 14 September 1998 in Germany and 28 September 1998 in Switzerland). 
 On 9 July 1998 DBAG and Terminmarkt GmbH, for the one part, and SWX, for the other part, entered into a software agreement (appended hereto as Annex 6). Under this agreement Terminmarkt
GmbH has granted SWX a non-exclusive licence, unlimited in time, to use the DTB software. The licence includes, in particular, the right to the independent further development of the software. Furthermore, DBAG and SWX reciprocally acknowledge that
they will each be able to claim all rights to the Eurex Releases 1.0 and 2.0, thereby entitling them to independent and unrestricted use of the software, the costs of which will be borne by the Parties in equal shares. Should one Party sub-license
the Eurex system (up to Eurex Release 2.0) including the DTB software, then the respective other Party shall receive 50% of the sublicense fees thus generated. 
 The Parties agree that during the term of this Agreement they shall jointly determine key points in relation to the further software developments (as from Eurex Release 3.0) for purposes of Eurex’s
operation by Eurex Zürich AG and Eurex Frankfurt AG. The costs for the further development of Release 3.0 and subsequent releases shall be borne by DBAG and SWX in a ratio of 80% to 20%. Both Parties hold the ownership to these releases as also
the previous Eurex Releases so that each Party may claim all rights thereto and will thus be fully entitled to the independent and free use thereof. Licence fees received from sub-licensing Eurex Release 3 and subsequent releases to third parties
shall be distributed among the Parties on the basis of an allocation formula adjusted for the investment expenses incurred in this regard. 

Upon termination/expiration of this Agreement or the start of liquidation of the Eurex business each Party, within the meaning of a gratuitous
(non-exclusive) licence including the right to further develop and sub-license such software, shall automatically be entitled to the full use of the software provided by it or the other Party under licence, in the applicable current version (Eurex
Release 1.0 and subsequent releases) unless such party does not already own the rights to such software. In the case where the software is jointly owned by both Parties, they shall continue to have the right to the gratuitous, comprehensive and
independent further development (including licensing) of the software. 
 The Parties each intend to enter into a consultancy and support
agreement (development as from Release 3.0) with Deutsche Börse Systems AG (“DBS”). The subject matter of the agreements shall specifically be consulting and support services by DBS in the development and use of software upon the
request and according to the specifications of SWX or DBAG. 

  
 -7-

	8.	Trademark rights in Eurex 

 DBAG hereby
grants SWX a gratuitous, non-exclusive licence, unlimited in time, to use the “Eurex” trademark that is registered in several countries (“Eurex Trademark”). SWX may sub-license such licence to other Eurex Companies. 

In the event the joint operation of Eurex is liquidated pursuant to clause 15, DBAG shall, subject to the last paragraph of this clause 8,
grant SWX the non-exclusive gratuitous licence, unlimited in time, to use and sub-license the Eurex Trademark subject to the condition that the trademark will be provided with a distinctive supplement in order to avoid any confusion with the Eurex
Trademark possibly used by DBAG or its group companies. SWX shall ensure that the trademark thus supplemented is protected. 
 In the event that
any relationships of co-operation are maintained between Eurex and third parties at the time of liquidation of Eurex’s joint operation and such third parties also use the Eurex Trademark as the distinctive mark of a combined European exchange
organisation, then the right to the continued use of the trademark shall be granted only to the Party that continues to maintain the co-operation relationships already existing at the time of liquidation. 

 

	9.	Financing and profit distribution 

 DBAG
and SWX agree that they will always provide cover for the capital requirements of the Eurex Companies (capital increases, loans, letters of comfort, guarantees etc.) in a ratio of 80% to 20%, although the allocation to capital and loans etc. shall
be decided by mutual agreement. The Parties shall reach an understanding on a financing plan. 
 All other investments in the context of Eurex
– with the exception of the further development costs for Eurex Release 1.0 and 2.0 – shall also be divided between DBAG and SWX in a ratio of 80% to 20%. 
 The Parties are aware that the exchange and clearing operation will require the setting up of adequate reserves. 
 Each Party undertakes to issue a letter of comfort in favour of Eurex Clearing AG (in accordance with the drafts set forth in Annexes 7 and 8) to the effect that DBAG and SWX shall, upon Eurex
Clearing AG’s first demand, provide it with capital at any time so that the Company will always be able to meet its financial obligations, particularly those arising from its clearing activities. In the event claims are asserted, DBAG shall be
responsible for 80% and SWX for 20% of the funds to be raised. Eurex Clearing AG will therefore demand 80% of the required capital from DBAG and 20% from SWX. 
 Profit shall be distributed between DBAG and SWX in a ratio of 80% to 20%, respectively. Any adjustment to this profit distribution ratio shall be decided by mutual agreement of the Parties. 

  
 -8-

 For purposes of implementing the profit distribution pursuant to the two preceding paragraphs, DBAG shall
receive the same number of profit participation certificates (Genussscheine) as shares of Eurex Zürich AG. Each profit participation certificate shall entitle the holder to triple the amount of dividends as is attributable to one share,
and – in the event of liquidation – triple the share in the liquidation surplus (after discharging all debts including any shareholder loans and repayment of the share capital including any premiums and/or additional contributions made by
the shareholders) as is attributable to one share. Both Parties shall vote for the corresponding provision in the articles of association and the corresponding resolution on founder benefits; in this event, SWX shall waive any rights to contest the
resolutions based on unequal treatment of shareholders. 
  

	10.	Eurex’s co-operation with the Parties or their associated companies 

 SWX, acting in its own name and for the account of SWX, entrusts Eurex Zürich AG with the mandate to operate the derivatives exchange in Switzerland. Terminmarkt GmbH, acting in its own name and for
the account of Terminmarkt GmbH, entrusts Eurex Frankfurt AG with the mandate to operate the derivatives exchange in Germany. The business management contracts (Betriebsführungsverträge) shall be drafted in accordance with the
drafts set forth in Annexes 9 and 10. 
 SWX shall provide Eurex Zürich AG, and DBAG or Terminmarkt GmbH shall provide Eurex
Frankfurt AG, with all equipment and human resources necessary for the operation of the derivatives exchanges. This shall likewise be implemented within the scope of the business management contracts. 

Both Eurex Zürich AG and Eurex Frankfurt AG entrust Eurex Clearing AG with the mandate to perform the clearing operations and shall take all the
necessary steps to ensure that Eurex Clearing AG has been granted all the rights required for such activity. The contracts of agency (Geschäftsbesorgungsverträge) with Eurex Clearing AG shall be drafted in accordance with the drafts
set forth in Annexes 11 and 12. 
 The services performed between the Eurex Companies and the Parties (or their associated companies)
shall always be invoiced to each other on arm’s length terms. 
  

	11.	Non-compete covenant 

 The Parties pursue
the common objective to operate an exchange organisation for the trading and clearing of financial derivative products. * 

  
 -9-

	12.	Share disposals 

 Each Party may transfer
Eurex shares and profit participation certificates for consideration or for no consideration only to an entity controlled by it or to the respective other Party. 
 Without the other Party’s consent, the transfer of Eurex shares and profit participation certificates to third parties shall be precluded for the term of this Agreement. 

The transfer of Eurex shares and profit participations shall at all times be subject to the condition that the acquiring entity accedes to the
Shareholders’ Agreement. 
  

	13.	Procedure adopted in case of stalemate at Eurex Zürich AG’s General Meeting 

 In the case of a stalemate at Eurex Zürich AG’s General Meeting, the Parties shall endeavour to remove such stalemate. 
 Should no consensus be reached within a period of 30 days, the Parties shall be obligated to participate in mediation proceedings to be conducted by a neutral third-party expert to be appointed jointly by
both Parties. 
 In the case where, following the unsuccessful conduct of mediation proceedings, any mandatory resolutions required by law or
the articles of association (for example adoption of the annual accounts or election of the statutory auditor) cannot be adopted, the chairman of the General Meeting shall have the casting vote pursuant to article 11 para. 4 of the
articles of association, and the Parties undertake to cast their votes accordingly. 
 Should a situation arise in which the successful
development or the functioning of Eurex Zürich AG is seriously jeopardised, the Parties shall without delay initiate the liquidation of the joint operation of Eurex in accordance with clause 15. 

 

	14.	Termination of Agreement 

 This Agreement
is entered into for a term running until 31 December 2004, after which it renews automatically by fixed contract periods of five years each, unless one of the Parties terminates the Agreement at least one year before the respective contract
period expires. 
 An extraordinary right of termination exists within a period of 60 days as from the date of notice by registered mail in the
case where a third party exchange organisation obtains a controlling influence over the other Party, whether by means of takeover or merger. 

Upon termination/expiration of the Agreement the Parties shall immediately initiate liquidation of the joint Eurex operation in accordance with
clause 15 below. 

  
 -10-

	15.	Liquidation of joint Eurex operation 

 In
the context of the liquidation of the joint operation of Eurex, each Party shall be entitled to full retransfer of the assets it has contributed, whether as contribution in kind or otherwise, at their actual value at the time of liquidation.
Thereafter the Parties shall be free to use and transfer such assets further. Any liquidation surplus possibly remaining after payment of debts and retransfer of the assets contributed will be distributed between the Parties at a ratio of 80% (DBAG)
to 20% (SWX). 
 This shall be subject, however, to the provisions set forth under clause 6 of the Software Agreement (Annex 6) with
respect to the liquidation. 
 In accordance therewith, DBAG shall take back the shares it has contributed to Eurex Frankfurt AG, whereby its
subsidiary Eurex Clearing AG will indirectly be returned to DBAG as well. SWX shall obtain Eurex Zürich AG in that DBAG surrenders the shares and profit participation rights in Eurex Zürich AG and SWX subsequently again holds 100% of the
voting rights and capital of Eurex Zürich AG. The Parties shall seek the most advantageous method of implementing these measures from a tax perspective. 
 The Parties shall ensure that the respective representatives appointed by them to the governing bodies of those Eurex Companies falling to the other Party shall resign from their offices without undue
delay. 
  

	16.	Confidentiality 

 Insofar necessary, the
Parties shall keep secret the content of this Agreement as well as any confidential matters relating to Eurex. Statutory duties to provide information shall be excepted. 

 

	17.	Supplements to the Agreement 

 Any
amendments or supplements to this Agreement must be executed in writing in order to be valid. 
  

	18.	Governing law and arbitration 

 This
Agreement shall be governed by Swiss law. 
 Any and all disputes between the Parties arising out of this Agreement shall be settled by a
three-person arbitration board based in Frankfurt am Main in accordance with the rules of the Swiss Federal Code of Civil Procedure (Bundesgesetz über den Bundeszivilprozess – BZP). Both Parties will each appoint an arbitrator who
will then jointly appoint the chairman. If they are unable to agree on the choice of such person, the President of the Higher Regional Court (Oberlandesgericht) of Frankfurt am Main shall appoint the chairman. This person may be either a
German or Swiss citizen. The language used in the proceedings shall be German. 

  
 -11-

 Place and date: [Handwritten: Zurich, 31 August 1998] 

 

									
	By	 	 /s/ J. Fischer
	 		 	By	 	 /s/ Antoinette Hunziker

		 	Name: J. Fischer	 		 		 	Name: Antoinette Hunziker
		 	Schweizer Börse	 		 		 	Schweizer Börse
					
	By	 	 /s/ Werner G. Seiffert
	 		 	By	 	 /s/ R.Francioni

		 	Name: Werner G. Seiffert	 		 		 	Name: R.Francioni
		 	Deutsche Börse AG	 		 		 	Deutsche Börse AG

  

  
 -12-

 Agreement 
 between 
 Deutsche Börse AG 

Frankfurt 

(“DBAG”) 

and 
 SWX
Swiss Exchange AG 
 Zurich 
 (“SWX”) 
 to amend the Shareholders’ Agreement relating to their
joint participations 
 in Eurex Zürich AG, Zurich, and its subsidiaries 

Preamble 
 The Swiss Stock Exchange,
Zurich, today SWX Swiss Exchange AG, and Deutsche Börse AG, Frankfurt, entered into a Shareholders’ Agreement relating to their joint participations in Eurex Zürich AG, Zurich, and its subsidiaries on 31 August 1998
(“Shareholders’ Agreement”). The Shareholders’ Agreement has been entered into for a term running until 31 December 2004, after which it renews automatically by fixed contract periods of five years each, unless one of the
Parties terminates the Agreement at least one year before the respective contract period expires. 
 During the contract renewal negotiations,
the Parties agreed to renew the fixed term of the Agreement for a period of ten years until 31 December 2014, subject to the following amendments. 

  
 -1-

	I.	Amendment to the Shareholders’ Agreement dated 31 August 1998 

 The Shareholders’ Agreement between DBAG and SWX relating to their joint participations in Eurex Zürich AG, Zurich, and its subsidiaries dated 31 August 1998 shall be amended as follows:

  

	1.	Clause 1.2 para. 1 sentence 1 shall be amended as follows: 

 Eurex is composed of the legal entities Eurex Zürich AG, Eurex Frankfurt AG and Eurex Clearing AG as well as other companies in which the aforementioned companies solely or jointly hold, either
directly or indirectly, the majority of shares or voting rights (“Eurex Companies”). 
  

	2.	Clause 3.1 shall be amended as follows: 

 a) Sentence 1 1st dash shall be revised as follows: 
 “- DBAG shall appoint three members and
SWX one member to the Board of Directors. The Board of Directors will be supplemented by four members proposed by DBAG and four members proposed by SWX. Members appointed or proposed by a given Party may not be rejected by the other Party in the
individual case unless there is just cause. Members may be dismissed at any time at the request of the shareholder authorised to appoint or propose such member by resolution of the General Meeting. DBAG and SWX will endeavour to appoint or propose
at least three members from among the market participants. One of the members of the Board of Directors appointed by SWX will be elected as President of the Board of Directors. The Board of Directors will appoint a secretary who need not be a member
of the Board of Directors but who attends the meetings in an advisory capacity.” 
 b) Sentence 1 2nd dash shall be deleted. 

  
 -2-

	3.	Clause 9 shall be amended as follows: 

  

	a)	Para. 1 sentence 1 shall be revised as follows: 

 “DBAG and SWX agree that they will provide cover for the Eurex Companies’ capital requirements (capital increases, loans, letters of comfort, guarantees, etc.) in a ratio of 85% to 15%,
respectively, although the division between equity and debt, etc., shall be decided by mutual agreement.” 
  

	b)	After para. 1 sentence 1, the following two sentences shall be added: 

 “Investment expenses in connection with the development of a Eurex branch in the US by establishing new or acquiring existing companies in the US will be borne by the Parties in a ratio of 85% (DBAG)
to 15% (SWX). Investment expenses within the meaning of the aforementioned sentence are exclusively those expenses vis-à-vis external third parties and Deutsche Börse Systems AG, however not own expenses of the Eurex Companies or
Deutsche Börse Group (with the exception of Deutsche Börse Systems AG) and the SWX Group.” 
  

	c)	Para. 2 shall be revised as follows: 

 “Other investments in the context of Eurex shall also be divided between DBAG and SWX in a ratio of 85% to 15%.” 
  

	d)	Para. 4 sentences 2 and 3 shall be revised and para. 4 supplemented by a new sentence 4 as follows: 

“In the event claims are asserted, DBAG shall be responsible for 85% and SWX for 15% of the capital to be raised. Eurex Clearing AG
will therefore demand 85% of the required capital from DBAG and 15% from SWX. If a claim is based on facts occurring either in whole or in part prior to 1 January 2005, sentences 2 and 3 of this paragraph 4 shall apply in their original version
applicable prior to 1 January 2005.” 
  

	e)	Para. 5 sentence 1 shall be revised as follows: 

 “Profit shall be distributed between DBAG and SWX in a ratio of 85% to 15%, respectively.” 
  

	f)	Para. 6 sentences 2 and 3 shall be revised as follows: 

 “Each profit participation certificate shall entitle the holder to 14/3 times the amount of dividends as is attributable to one share, and – in the event of liquidation – to 14/3 times the
share in the liquidation surplus (after discharging all debts including any shareholder loans and repayment of the share capital including any premiums and/or additional contributions made by the shareholders) as is attributable to one share. Both
Parties will adopt any and all resolutions and take any and all action necessary in order to amend article 25 of the articles of association of Eurex Zürich AG as well as the profit 

  
 -3-

 
participation certificates issued by Eurex Zürich AG to DBAG to reflect the aforementioned provisions promptly as of 1 January 2005; in this event, SWX shall waive any rights to contest
the resolutions based on unequal treatment of shareholders.” 
  

	4.	Clause 10 shall be amended as follows: 

 In para. 4, sentence 1 shall be supplemented with the following sentence: 

“The Parties shall hold a meeting each year in September, parallel to budgeting, at which meeting the list of services to be
performed by the Parties for Eurex and the price list for such services will be discussed.” 
  

	5.	Clause 14 shall be amended as follows: 

 Sentence 1 shall be revised as follows: 
 “This Agreement is entered into for
a term running until 31 December 2014.” 
  

	6.	Clause 12 shall be amended as follows: 

 Para. 1 shall be revised as follows: 
 “Each Party may transfer Eurex shares
and profit participation certificates for consideration or for no consideration only to an entity controlled by it or to its controlling entity or to the respective other Party.” 

 

	7.	Clause 15 shall be amended as follows: 

 Para. 1 sentence 3 shall be revised as follows: 
 “Any liquidation surplus
possibly remaining after payment of debts and retransfer of the assets contributed will be distributed between the Parties in a ratio of 85% (DBAG) to 15% (SWX).” 

  
 -4-

	II.	Entry into force of the amendments 

 The
amendment of clause 14 of the Shareholders’ Agreement by I. clause 5 of this Agreement, the amendment of clause 9 of the Shareholders’ Agreement by I. clause 3b) of this Agreement and the amendment of clause 12 of the Shareholders’
Agreement by I. clause 6 of this Agreement shall enter into force upon signing of this Agreement. All other amendments to the Shareholders’ Agreement set out herein shall enter into force on 1 January 2005. 

 

	III.	Rescission of the supplemental agreement to the Shareholders’ Agreement dated 8 April 2003 

The supplemental agreement to the Shareholders’ Agreement entered into between the Parties on 8 April 2003, which contains provisions relating
to the treatment of the Eurex-USA entities in the event the Shareholders’ Agreement is terminated as of 31 December 2004 will be rescinded on the date on which this Agreement is signed. 

IV. Miscellaneous 
  

	1.	Amendments 

 Any amendments or supplements
to this Agreement must be executed in writing in order to be valid. 
  

	2.	Governing law and arbitration 

 This
Agreement shall be governed by Swiss law. 
 Any and all disputes between the Parties arising out of this Agreement shall be settled by a
three-person arbitration board based in Frankfurt am Main in accordance with the rules of the Swiss Federal Code of Civil Procedure (Bundesgesetz über den Bundeszivilprozess – BZP). Both Parties will each appoint an arbitrator who
will then jointly appoint the chairman. If they are unable to agree on the choice of such person, the President of the Higher Regional Court (Oberlandesgericht) of Frankfurt am Main shall appoint the chairman. This person may be either a
German or Swiss citizen. The language used in the proceedings shall be German. 

  
 -5-

 Place and date: [Handwritten: 26 May 2003] 

 

									
	By	 	 /s/ R.Francioni
	 		 	By	 	 /s/ Jürg Spillmann

		 	Name: R.Francioni	 		 		 	Name: Jürg Spillmann
		 	SWX Swiss Exchange	 		 		 	SWX Swiss Exchange
					
	By	 	 /s/ Werner G. Seiffert
	 		 	By	 	 /s/ Mathias Hlubek

		 	Name: Werner G. Seiffert	 		 		 	Name: Mathias Hlubek
		 	Deutsche Börse AG	 		 		 	Deutsche Börse AG

  
 -6-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00188-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00188-of-00352.parquet"}]]