Document:

EX-10.71

 Exhibit 10.71 

EXECUTION VERSION 

ADMINISTRATION AGREEMENT 

Between 
 GE SALES FINANCE MASTER
TRUST, 
 as Trust 
 and 

GE CAPITAL RETAIL BANK, 
 as
Administrator 
 Dated as of February 29, 2012 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
			
	SECTION 1.	 	 DUTIES OF THE ADMINISTRATOR
	  	 	1	  
			
	SECTION 2.	 	 RECORDS
	  	 	7	  
			
	SECTION 3.	 	 COMPENSATION
	  	 	7	  
			
	SECTION 4.	 	 ADDITIONAL INFORMATION TO BE FURNISHED TO THE TRUST
	  	 	7	  
			
	SECTION 5.	 	 INDEPENDENCE OF THE ADMINISTRATOR
	  	 	7	  
			
	SECTION 6.	 	 NO JOINT VENTURE
	  	 	7	  
			
	SECTION 7.	 	 OTHER ACTIVITIES OF THE ADMINISTRATOR
	  	 	8	  
			
	SECTION 8.	 	 TERM OF AGREEMENT; RESIGNATION AND REMOVAL OF THE ADMINISTRATOR
	  	 	8	  
			
	SECTION 9.	 	 ACTION UPON TERMINATION, RESIGNATION OR REMOVAL
	  	 	9	  
			
	SECTION 10.	 	 NOTICES
	  	 	9	  
			
	SECTION 11.	 	 AMENDMENTS
	  	 	10	  
			
	SECTION 12.	 	 SUCCESSORS AND ASSIGNS
	  	 	10	  
			
	SECTION 13.	 	 GOVERNING LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL
	  	 	11	  
			
	SECTION 14.	 	 OTHER INTERPRETIVE MATTERS
	  	 	12	  
			
	SECTION 15.	 	 COUNTERPARTS
	  	 	12	  
			
	SECTION 16.	 	 SEVERABILITY
	  	 	12	  
			
	SECTION 17.	 	 NOT APPLICABLE TO GENERAL ELECTRIC CAPITAL CORPORATION IN OTHER CAPACITIES
	  	 	13	  
			
	SECTION 18.	 	 LIMITATION OF LIABILITY OF THE TRUSTEE
	  	 	13	  
			
	SECTION 19.	 	 INDEMNIFICATION
	  	 	13	  
			
	SECTION 20.	 	 NO PROCEEDINGS
	  	 	14	  

  
 i 

 ADMINISTRATION AGREEMENT, dated as of February 29, 2012, between GE SALES FINANCE
MASTER TRUST, a Delaware statutory trust (the “Trust”) and GE CAPITAL RETAIL BANK, a federal savings bank organized under the laws of the United States, as administrator (the “Administrator”). 

RECITALS 
 WHEREAS, the
Trust has entered into a Master Indenture, dated as of the date hereof (as amended and supplemented by any Indenture Supplement, or otherwise, from time to time in accordance with the provision thereof, the “Indenture”), between the
Trust and Deutsche Bank Trust Company Americas, as indenture trustee (“Indenture Trustee”), to provide for the issuance of its asset backed notes (the “Notes”) from time to time pursuant to one or more indenture
supplements. Capitalized terms used herein and not otherwise defined herein are defined in the Indenture; 
 WHEREAS, the Trust has entered
into certain agreements in connection with the issuance of the Notes and the issuance of the Transferor Interest (as defined in the Trust Agreement) and transactions related thereto, including (i) the Transfer Agreement, (ii) the Servicing
Agreement, (iii) the Trust Agreement and (iv) the Indenture (collectively, the “Related Documents”); 
 WHEREAS,
pursuant to the Related Documents, the Trust is required to perform certain duties in connection with: (a) the Notes and the collateral therefor pledged pursuant to the Indenture (the “Collateral”) and (b) the Transferor
Interest ; 
 WHEREAS, the Trust desires to have the Administrator perform certain of the duties of the Trust referred to in the preceding
clause, and to provide such additional services consistent with this Agreement and the Related Documents as the Trust may from time to time request; 

WHEREAS, the Administrator has the capacity to provide the services required hereby and is willing to perform such services for the Trust on
the terms set forth herein; 
 NOW, THEREFORE, in consideration of the mutual terms and covenants contained herein, and other good and
valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties agree as follows: 
 SECTION 1. Duties of
the Administrator. 
 (a) Duties with Respect to the Transfer Agreement. The Administrator, on behalf of the Trust, shall perform
the administrative duties of the Trust under the Transfer Agreement. The Administrator, on behalf of the Trust, shall monitor the performance of the Trust and shall advise the Trust when action is necessary to comply with the Trust’s duties
under the Transfer Agreement. The Administrator, on behalf of the Trust, shall prepare for execution by the Trust or shall cause the preparation by other appropriate persons of all such documents, reports, filings, instruments, certificates and
opinions as it shall be the duty of the Trust to prepare, file or deliver pursuant to the Transfer Agreement. In furtherance of the foregoing, the Administrator, on behalf of the Trust shall take all appropriate action that is the duty of the Trust
to take pursuant to such documents, including, without limitation, such of the foregoing as are required with respect to the following matters (references in this Section are to sections of the Transfer Agreement): 

(i) the duty to maintain possession of the Account Schedules delivered pursuant to the Transfer Agreement (Section 2.2);

  

					
		 		 	Administration Agreement

 (ii) the duty to cause the payment of the Purchase Price for each Purchase Date
(Section 2.4); 
 (iii) (A) the preparation and the execution of any Reassignment or any other documents and
instruments of transfer (Section 2.7) and (B) the duty to take such actions as requested by the Transferor to effect the conveyance of the Transferred Interests and other Transferred Assets (Section 2.6); 

(iv) (A) the notification to the Transferor of any breach in representation or warranty of the Transferor under the Transfer
Agreement or (B) the acceptance of a reassignment of the Transferred Interests if such breach is not cured as provided in Section 6.1 of the Transfer Agreement (Section 6.1); 

(v) the duty to comply with the FDIC Rule and FDIC Rule Interpretations (each as defined in the Transfer Agreement) and the
obligations of the Trust in Schedule 6.4 to the Transfer Agreement (Section 6.4); and 
 (vi) (A) the duty to consult
with the Transferor to determine whether the Trust’s consent to any reduction of periodic finance charges or other fees would violate the Trust’s covenants contained in the Indenture or any Supplement thereto and (B) the duty to
prepare, execute and deliver any notices of objection to a proposed reduction upon determination that a violation would occur (Section 6.3(b)). 

(b) Duties with Respect to the Servicing Agreement. The Administrator, on behalf of the Trust, shall perform the administrative duties
of the Trust under the Servicing Agreement. The Administrator, on behalf of the Trust, shall monitor the performance of the Trust and shall advise the Trust when action is necessary to comply with the Trust’s duties under the Servicing
Agreement. The Administrator shall prepare and execute on behalf of the Trust or shall cause the preparation by other appropriate persons of all such documents, reports, filings, instruments, certificates and opinions as it shall be the duty of the
Trust to prepare, file or deliver pursuant to the Servicing Agreement. In furtherance of the foregoing, the Administrator, on behalf of the Trust shall take all appropriate action that is the duty of the Trust to take pursuant to such documents,
including, without limitation, such of the foregoing as are required with respect to the following matters (references in this Section are to sections of the Servicing Agreement): 

(i) (A) the notification to the Servicer prior to any designation of (I) additional or removed Accounts, (II) any
additional Originator and (III) any discount percentage and (B) the duty to provide the Servicer a copy of the related Program Agreements with respect to Additional Accounts (Section 2.2); 

  

					
		 	2	 	Administration Agreement

 (ii) (A) the duty to furnish the Servicer with powers of attorney and other
documents necessary or appropriate to enable the Servicer to carry out its servicing duties and (B) the duty to assist the Servicer in collecting the Serviced Receivables (Section 2.4); 

(iii) (A) the notification to the Servicer of a breach of the applicable covenants under Section 2.6 of the
Servicing Agreement and (B) the execution and the delivery of any documents or instruments of transfer or assignment requested by the Servicer to effect the conveyance of the Transferred Interests to the Servicer (Section 2.6); 

(iv) the delivery of a Servicer Termination Notice to the Servicer (Section 5.1); and 

(v) the appointment of a successor servicer (Section 6.2). 

(c) Duties with Respect to the Indenture. The Administrator, on behalf of the Trust, shall perform the administrative duties of the
Trust under the Indenture and any Indenture Supplement. The Administrator, on behalf of the Trust, shall monitor the performance of the Trust and shall advise the Trust when action is necessary to comply with the Trust’s duties under the
Indenture and any Indenture Supplement. The Administrator shall prepare and execute on behalf of the Trust or shall cause the preparation by other appropriate persons of all such documents, reports, filings, instruments, certificates and opinions as
it shall be the duty of the Trust to prepare, file or deliver pursuant to the Indenture and any Indenture Supplement. In furtherance of the foregoing, the Administrator, on behalf of the Trust shall take all appropriate action that is the duty of
the Trust to take pursuant to such documents, including, without limitation, such of the foregoing as are required with respect to the following matters (references in this Section are to sections of the Indenture): 

(i) (A) the preparation of or the obtaining of the documents and instruments required for authentication of the Notes and
(B) the delivery of the same to the Indenture Trustee (Sections 2.2, 2.3 and 2.5); 
 (ii) (A) the
duty to cause the Note Registrar to be kept, (B) the appointment of a successor Note Registrar, (C) the notification to the Indenture Trustee of any appointment of a new Note Registrar or the Note Registrar’s change in location,
(D) the preparation of a new Note upon the surrender of a Note for transfer and (E) the appoint of a co-transfer agent if any Series of Notes is listed on the Luxembourg Stock Exchange (Section 2.4); 

(iii) the notification to the Indenture Trustee of the date on which the Trust expects that the final installment of principal
of and interest on the Notes will be paid (Section 2.7); 
 (iv) (A) the notification to the Indenture Trustee of a
New Issuance and (B) the delivery of any Indenture Supplement, Series Enhancement Agreement and Tax Opinion to the Indenture Trustee (Section 2.8); 

  

					
		 	3	 	Administration Agreement

 (v) the delivery of any Notes to the Indenture Trustee for cancellation
(Section 2.9); 
 (vi) the communication with any Clearing Agency (Sections 2.10 and 2.11); 

(vii) (A) the appointment of a successor Clearing Agency and (B) the notification to the Indenture Trustee that the
Clearing Agency is no longer willing or able to discharge its responsibilities under the Note Depository Agreement and that the Trust is unable to locate a successor Clearing Agency (Section 2.12); 

(viii) the notification to the Indenture Trustee 30 days prior to of any change in the location of the Trust’s offices or
its jurisdiction of organization (Section 3.2); 
 (ix) the duty to cause the Trust to (A) keep in full effect
its existence, rights and franchises as a Delaware statutory trust and (B) observe and comply in all material respects with (I) all laws applicable to the Trust (II) all requisite and appropriate organizational and other formalities in the
management of the Trust’s business and affairs and (III) conduct the transactions contemplated thereby (Section 3.3); 

(x) the duty to cause the preparation and delivery of all supplements and amendments to the Indenture in accordance with
Section 3.4 of the Indenture (Section 3.4); 
 (xi) the delivery of an Opinion of Counsel to the Indenture
Trustee under Section 3.5 of the Indenture (Section 3.5); 
 (xii) the duty to cause the Trust (A) to
enforce the obligations of the Servicer under the Servicing Agreement, the obligations of the Transferor under the Transfer Agreement and the obligations of the Paying Agent set forth in Section 6.15 of the Indenture, (B) to deliver
a notice to the Servicer of any Servicer Default as required under Section 3.6(c) of the Indenture, (C) to exercise its rights to terminate the Servicer, (D) to obtain the consent of the Noteholders upon a voluntary dismissal
of the Servicer, (E) to appoint a Successor Servicer, (F) to notify the Indenture Trustee upon any termination of the Servicer’s rights and powers under the Servicing Agreement and each appointment of a Successor Servicer and
(G) to provide, or to cause the Servicer to provide, the Indenture Trustee access to any documents regarding the Accounts and the Transferred Interests (Section 3.6); 

(xiii) to contest or to pay all taxes on behalf of the Trust when due and payable and to deliver such information to the
Noteholders to enable the Noteholders to prepare their income taxes (Section 3.7); 
 (xiv) the delivery of an Opinion
of Counsel and/or Officer’s Certificate to the Indenture Trustee under Sections 3.8, 4.1, 9.1 and 10.1 of the Indenture (Sections 3.8, 4.1, 9.1 and 10.1) or as may otherwise be required
pursuant to the Indenture; 

  

					
		 	4	 	Administration Agreement

 (xv) the notification to the Indenture Trustee of each Early Amortization Event,
Event of Default and Servicer Default required under Section 3.10 of the Indenture (Section 3.10); 

(xvi) (A) the preparation of and the delivery of any further instruments and (B) to perform any further acts as may be
reasonably necessary to carry out the provisions of the Indenture (Section 3.11); 
 (xvii) (A) the removal of
the Indenture Trustee and (B) the appointment of a successor Indenture Trustee in accordance with Section 6.7 of the Indenture (Section 6.7); 

(xviii) the notification to the Indenture Trustee in writing if any of the Notes become listed on any stock exchange or market
trading system (Section 6.13); 
 (xix) (A) the duty to cause the Paying Agent (other that the Indenture Trustee) to
pay the Indenture Trustee any sums held in trust by such Paying Agent with respect to the Notes and (B) the appointment of each Paying Agent (Section 6.15); 

(xx) the duty to furnish to the Indenture Trustee a list of Noteholders as required pursuant to Section 7.1 of the
Indenture (Section 7.1); 
 (xxi) (A) the filing with the Indenture Trustee and the Commission copies of reports or
documents required pursuant to the Securities Exchange Act and the Commission (B) the delivery of the summaries of any information required to be filed with the Commission to the Indenture Trustee and (C) the notification to the Indenture
Trustee of any change in the Trust’s fiscal year (Section 7.3); 
 (xxii) the duty to determine the aggregate
Principal Shortfalls for any Series and to instruct the Indenture Trustee regarding withdrawals from the Excess Funding Account and the allocation of such withdrawn amounts (Section 8.2); 

(xxiii) the preparation and the delivery any Supplemental Indentures (Sections 9.1 and 9.2); 

(xxiv) (A) the preparation and the delivery of any agreement entered into with a Noteholder pursuant to
Section 10.6 of the Indenture and (B) the delivery of a copy of such agreement to the Indenture Trustee (Section 10.6); 

(xxv) the filing of all appropriate financing statements; and 

(xxvi) the duty to make available to investors, information described in clause (c) of Schedule II of the Indenture and to
take any actions required of the Trust pursuant to Section 11.3 of the Indenture (Sections 11.2 and 11.3). 

  

					
		 	5	 	Administration Agreement

 (d) Duties with respect to sale of Notes. The Administrator, on behalf of the Trust, shall
perform the administrative duties of the Trust under any note purchase agreement, loan agreement or underwriting agreement. The Administrator, on behalf of the Trust, shall monitor the performance of the Trust and shall advise the Trust when action
is necessary to comply with the Trust’s duties under any note purchase agreement, loan agreement or underwriting agreement. The Administrator shall prepare and execute on behalf of the Trust or shall cause the preparation by other appropriate
persons of all such documents, reports, filings, instruments, certificates and opinions as it shall be the duty of the Trust to prepare, file or deliver pursuant any note purchase agreement, loan agreement or underwriting agreement. In furtherance
of the foregoing, the Administrator, on behalf of the Trust shall take all appropriate action that is the duty of the Trust to take pursuant to such documents. 

(e) Duties with Respect to the Trust. (i) The Administrator shall perform such calculations, and shall prepare for execution by
the Trust or shall cause the preparation by other appropriate persons, of all such documents, reports, filings, instruments, certificates and opinions, as it shall be the duty of the Trust, to perform, prepare, file or deliver pursuant to the
Related Documents. At the request of the Trust, the Administrator shall take all appropriate action that it is the duty of the Trust, to take pursuant to the Related Documents. Subject to Section 5 of this Agreement, and in accordance
with the directions of the Trust, the Administrator, on behalf of the Trust, shall administer, perform or supervise the performance of such other activities permitted by the Related Documents as are not covered by any of the foregoing and as are
expressly requested by the Trust, and are reasonably within the capability of the Administrator. 
 (i) The Administrator, on
behalf of the Trust, shall perform the duties specified in Section 9.2 of the Trust Agreement required to be performed in connection with the resignation or removal of the Trustee (as defined in the Trust Agreement), and any other duties
expressly required to be performed by the Administrator under the Trust Agreement. 
 (ii) In carrying out the foregoing
duties or any of its other obligations under this Agreement, the Administrator may enter into transactions with or otherwise deal with any of its affiliates; provided, however, that the terms of any such transactions or dealings shall
be in accordance with any directions received from the Trust and shall be, in the Administrator’s opinion, no less favorable to the Trust than would be available from unaffiliated parties. 

(iii) The Administrator hereby agrees to execute on behalf of the Trust all such documents, reports, filings, instruments,
certificates and opinions as it shall be the duty of the Trust to prepare, file or deliver pursuant to the Related Documents or otherwise by law. 

(f) Non-Ministerial Matters. (i) With respect to matters that in the reasonable judgment of the Administrator are non-ministerial,
the Administrator shall not take any action unless within a reasonable time before the taking of such action the Administrator shall have notified the Trust of the proposed action and the Trust shall have consented or provided an alternative
direction. For the purpose of the preceding sentence, “non-ministerial matters” shall include, without limitation: 

(A) the initiation of any claim or lawsuit by the Trust and the compromise of any action, claim or lawsuit brought by or
against the Trust (other than in connection with the collection of the Transferred Interests); 

  

					
		 	6	 	Administration Agreement

 (B) the amendment, change, supplement or modification of the Related Documents
other than an Indenture Supplement; and 
 (C) the appointment of successor Note Registrars, successor Paying Agents and
successor Indenture Trustees pursuant to the Indenture or the appointment of successor Administrators or successor Servicers, or the consent to the assignment by the Note Registrar, Paying Agent or Indenture Trustee of its obligations under the
Indenture. 
 (ii) Notwithstanding anything to the contrary in this Agreement, the Administrator shall not be obligated to,
and shall not take any other action that the Trust directs the Administrator not to take on its behalf. 
 SECTION 2. Records. The
Administrator shall maintain appropriate records relating to services performed hereunder, which records shall be accessible for inspection by the Trust or its designees, at any time during normal business hours upon 10 Business Days’ prior
notice. 
 SECTION 3. Compensation. As compensation for the performance of the Administrator’s obligations under this Agreement
and as reimbursement for its expenses related thereto, the Administrator shall be entitled to $350 per month payable in arrears on each Payment Date, which payment shall be solely an obligation of the Trust. 

SECTION 4. Additional Information to be Furnished to the Trust. The Administrator shall furnish to the Trust from time to time such
additional information regarding the Collateral as the Trust shall reasonably request. 
 SECTION 5. Independence of the
Administrator. For all purposes of this Agreement, the Administrator shall be an independent contractor and shall not be subject to the supervision of the Trust with respect to the manner in which it accomplishes the performance of its
obligations hereunder. Unless expressly authorized by the Trust, the Administrator shall have no authority to act for or represent the Trust in any way (other than as permitted hereunder) and shall not otherwise be deemed an agent of the Trust. 

SECTION 6. No Joint Venture. Nothing contained in this Agreement: (i) shall constitute the Administrator and the Trust as members
of any partnership, joint venture, association, syndicate, unincorporated business or other separate entity, (ii) shall be construed to impose any liability as such on any of them or (iii) shall be deemed to confer on any of them any
express, implied or apparent authority to incur any obligation or liability on behalf of the others. 

  

					
		 	7	 	Administration Agreement

 SECTION 7. Other Activities of the Administrator. Nothing herein shall prevent the
Administrator or its Affiliates from engaging in other businesses or, in their sole discretion, from acting in a similar capacity as an administrator for any other Person even though such Person may engage in business activities similar to those of
the Trust. 
 SECTION 8. Term of Agreement; Resignation and Removal of the Administrator. (a) This Agreement shall continue in
force until the dissolution of the Trust, upon which event this Agreement shall automatically terminate. 
 (b) The Administrator may resign
its duties hereunder by providing the Trust and the Servicer with at least 45 days’ prior written notice. 
 (c) Subject to
Section 8(d), at the sole option of the Trust, the Administrator may be removed immediately upon written notice of termination from the Trust to the Administrator and the Transferor if any of the following events shall occur: 

(i) failure on the part of Administrator duly to observe or perform in any material respect any covenants or agreements of
Administrator set forth in this Agreement which has a material adverse effect on the interests of Trust, which continues unremedied for a period of 90 days after the date on which written notice of such failure requiring the same to be remedied
shall have been given to Administrator by the Trust (or, if such default in performance cannot be cured in such time, shall not give within ten days such assurance of cure as shall be reasonably satisfactory to the Trust); provided that if
such failure was caused by an act of God or other similar occurrence, then Administrator shall have until 150 days after the date of such failure to cure before a default in performance shall be deemed to have occurred under this Section. 

(ii) a court having jurisdiction in the premises shall enter a decree or order for relief, and such decree or order shall not
have been vacated within 60 days, in respect of the Administrator in any involuntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect or appoint a receiver, liquidator, assignee, custodian, trustee,
sequestrator or similar official for the Administrator or any substantial part of its property or order the winding-up or liquidation of its affairs; or 

(iii) the Administrator shall commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or
hereafter in effect, shall consent to the entry of an order for relief in an involuntary case under any such law, or shall consent to the appointment of a receiver, liquidator, assignee, trustee, custodian, sequestrator or similar official for the
Administrator or any substantial part of its property, shall consent to the taking of possession by any such official of any substantial part of its property, shall make any general assignment for the benefit of creditors or shall fail generally to
pay its debts as they become due. 
 The Administrator agrees that if any of the events specified in clauses (ii) or
(iii) of this subsection shall occur, it shall give written notice thereof to the Trust, the Servicer and the Indenture Trustee within seven days after the happening of such event. 

  

					
		 	8	 	Administration Agreement

 (d) Upon the Administrator’s receipt of notice of termination, pursuant to
Section 8(c), or the Administrator’s resignation in accordance with this Agreement, the predecessor Administrator shall continue to perform its functions as Administrator under this Agreement, in the case of termination, only until
the date specified in such termination notice or, if no such date is specified in a notice of termination, until receipt of such notice and, in the case of resignation, until the date 45 days from the delivery to the Trust and the Servicer of
written notice of such resignation (or written confirmation of such notice) in accordance with this Agreement. In the event of the Administrator’s termination hereunder, the Trust shall appoint a successor Administrator, and the successor
Administrator shall accept its appointment by a written assumption. No resignation or removal of the Administrator pursuant to this Section shall be effective until: (i) a successor Administrator shall have been appointed by the Trust and
(ii) such successor Administrator shall have agreed in writing to be bound by the terms of this Agreement in the same manner as the Administrator is bound hereunder. 

(e) Upon appointment, the successor Administrator shall be the successor in all respects to the predecessor Administrator and shall be subject
to all the responsibilities, duties and liabilities arising thereafter relating thereto placed on the predecessor Administrator and shall be entitled to the compensation specified in Section 3 and all the rights granted to the
predecessor Administrator by the terms and provisions of this Agreement. 
 (f) The Administrator or the Trust, as the case may be, shall
provide to the Indenture Trustee a copy of all notices required to be delivered under this Section 8. 
 SECTION 9. Action
upon Termination, Resignation or Removal. Promptly upon the effective date of termination of this Agreement pursuant to Section 8(a), or the resignation or removal of the Administrator pursuant to Section 8(b),
respectively, the Administrator shall be entitled to be paid all fees and reimbursable expenses accruing to it to the date of such termination, resignation or removal. The Administrator shall forthwith upon such termination pursuant to
Section 8(a) deliver to the Trust all property and documents of or relating to the Collateral then in the custody of the Administrator. In the event of the resignation or removal of the Administrator pursuant to Section 8(b),
respectively, the Administrator shall cooperate with the Trust and the Indenture Trustee and take all reasonable steps requested to assist the Trust and the Indenture Trustee in making an orderly transfer of the duties of the Administrator. 

SECTION 10. Notices. Any notice, report or other communication given hereunder shall be in writing and addressed as follows: 

(a) if to the Trust, to: 
  

			
	GE Sales Finance Master Trust
	c/o BNY Mellon Trust of Delaware, as Trustee
	101 Barclay Street, Floor 4 West (ABS Unit)
	New York, New York 10286
	Attn:	  	Antonio Vayas
	Telephone:	  	(212) 815-8322
	Telecopy:	  	(212) 815-2493

  

					
		 	9	 	Administration Agreement

 with copies to: 

 

			
	c/o BNY Mellon Trust of Delaware
	101 Barclay Street, Floor 4 West (ABS Unit)
	New York, New York, 10286
	Attention:	  	Antonio Vayas
	Telecopy:	  	(212) 815-2493
	
	GE Capital Retail Bank, as Administrator
	170 Election Road, Suite 125
	Draper, Utah 84020
	Attention:	  	President
	Telephone:	  	(801) 816-4765
	Facsimile:	  	(801) 816-4770

 (b) if to the Administrator, to: 
  

			
	GE Capital Retail Bank, as Administrator
	170 Election Road, Suite 125
	Draper, Utah 84020
	Attention:	  	President
	Telephone:	  	(801) 816-4765
	Facsimile:	  	(801) 816-4770

 (c) if to the Indenture Trustee, to: 
  

			
	Deutsche Bank Trust Company Americas
	60 Wall Street
	27th floor, Mail Stop NYC60-2720
	New York, N.Y. 10005
	Attn: Louis Bodi
	Telephone:	  	(212) 250-4855
	Telecopy:	  	(212) 553-2458

 or to such other address as any party shall have provided to the other parties in writing. Any notice required to be in
writing hereunder shall be deemed given if such notice is mailed by certified mail, postage prepaid, or hand-delivered to the address of such party as provided above. 

SECTION 11. Amendments. This Agreement may be amended from time to time by a written amendment duly executed and delivered by the Trust
and the Administrator. Promptly after the execution of any such amendment, the Administrator shall furnish written notification of the substance of such amendment or consent to the holder of the Transferor Interest . 

SECTION 12. Successors and Assigns. This Agreement may not be assigned by the Administrator to any Person other than an Affiliate of
the Administrator unless such assignment is previously consented to in writing by the Trust. An assignment with such consent and satisfaction, if accepted by the assignee, shall bind the assignee hereunder in the same manner as

  

					
		 	10	 	Administration Agreement

 
the Administrator is bound hereunder. Notwithstanding the foregoing, this Agreement may be assigned by the Administrator without the consent of the Trust to a corporation or other organization
that is a successor (by merger, consolidation or purchase of assets) to the Administrator, provided that such successor organization executes and delivers to the Trust, an agreement in which such corporation or other organization agrees to be bound
hereunder by the terms of said assignment in the same manner as the Administrator is bound hereunder. Subject to the foregoing, this Agreement shall bind any successors or assigns of the parties hereto. 

SECTION 13. GOVERNING LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL. (a) THIS AGREEMENT AND THE OBLIGATIONS ARISING HEREUNDER
SHALL IN ALL RESPECTS, INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE, BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING SECTION 5-1401(1) OF THE GENERAL OBLIGATIONS
LAW, BUT WITHOUT REGARD TO ANY OTHER CONFLICT OF LAW PROVISIONS THEREOF) AND ANY APPLICABLE LAWS OF THE UNITED STATES OF AMERICA. 
 (b)
EACH PARTY HERETO HEREBY CONSENTS AND AGREES THAT THE STATE OR FEDERAL COURTS LOCATED IN THE BOROUGH OF MANHATTAN IN NEW YORK CITY SHALL HAVE EXCLUSIVE JURISDICTION TO HEAR AND DETERMINE ANY CLAIMS OR DISPUTES BETWEEN THEM PERTAINING TO THIS
AGREEMENT OR TO ANY MATTER ARISING OUT OF OR RELATING TO THIS AGREEMENT; PROVIDED, THAT EACH PARTY HERETO ACKNOWLEDGES THAT ANY APPEALS FROM THOSE COURTS MAY HAVE TO BE HEARD BY A COURT LOCATED OUTSIDE OF THE BOROUGH OF MANHATTAN IN NEW YORK CITY;
PROVIDED, FURTHER, THAT NOTHING IN THIS AGREEMENT SHALL BE DEEMED OR OPERATE TO PRECLUDE THE LENDER FROM BRINGING SUIT OR TAKING OTHER LEGAL ACTION IN ANY OTHER JURISDICTION TO REALIZE ON THE BORROWER COLLATERAL OR ANY OTHER SECURITY FOR THE
BORROWER SECURED OBLIGATIONS, OR TO ENFORCE A JUDGMENT OR OTHER COURT ORDER IN FAVOR OF THE LENDER. EACH PARTY HERETO SUBMITS AND CONSENTS IN ADVANCE TO SUCH JURISDICTION IN ANY ACTION OR SUIT COMMENCED IN ANY SUCH COURT, AND EACH PARTY HERETO
HEREBY WAIVES ANY OBJECTION THAT SUCH PARTY MAY HAVE BASED UPON LACK OF PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM NON CONVENIENS AND HEREBY CONSENTS TO THE GRANTING OF SUCH LEGAL OR EQUITABLE RELIEF AS IS DEEMED APPROPRIATE BY SUCH COURT. EACH
PARTY HERETO HEREBY WAIVES PERSONAL SERVICE OF THE SUMMONS, COMPLAINT AND OTHER PROCESS ISSUED IN ANY SUCH ACTION OR SUIT AND AGREES THAT SERVICE OF SUCH SUMMONS, COMPLAINT AND OTHER PROCESS MAY BE MADE BY REGISTERED OR CERTIFIED MAIL ADDRESSED TO
SUCH PARTY AT ITS ADDRESS DETERMINED IN ACCORDANCE WITH SECTION 10 AND THAT SERVICE SO MADE SHALL BE DEEMED COMPLETED UPON THE EARLIER OF SUCH PARTY’S ACTUAL RECEIPT THEREOF OR THREE DAYS AFTER DEPOSIT IN THE UNITED STATES MAIL, PROPER
POSTAGE PREPAID. NOTHING IN THIS SECTION SHALL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE LEGAL PROCESS IN ANY OTHER MANNER PERMITTED BY LAW. 

  

					
		 	11	 	Administration Agreement

 (c) BECAUSE DISPUTES ARISING IN CONNECTION WITH COMPLEX FINANCIAL TRANSACTIONS ARE MOST QUICKLY
AND ECONOMICALLY RESOLVED BY AN EXPERIENCED AND EXPERT PERSON AND THE PARTIES WISH APPLICABLE STATE AND FEDERAL LAWS TO APPLY (RATHER THAN ARBITRATION RULES), THE PARTIES DESIRE THAT THEIR DISPUTES BE RESOLVED BY A JUDGE APPLYING SUCH APPLICABLE
LAWS. THEREFORE, TO ACHIEVE THE BEST COMBINATION OF THE BENEFITS OF THE JUDICIAL SYSTEM, THE PARTIES HERETO WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT, OR PROCEEDING BROUGHT TO RESOLVE ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR
OTHERWISE, ARISING OUT OF, CONNECTED WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED AMONG THEM IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

SECTION 14. Other Interpretive Matters. All terms defined directly or by incorporation in this Agreement shall have the defined
meanings when used in any document delivered pursuant thereto unless otherwise defined therein. For purposes of this Agreement, unless the context otherwise requires: (a) accounting terms not otherwise defined herein and accounting terms partly
defined herein to the extent not defined, shall have the respective meanings given to them under generally accepted accounting principles; and unless otherwise provided, references to any month, quarter or year refer to a fiscal month, quarter or
year as determined in accordance with the GE Capital fiscal calendar; (b) unless defined in this Agreement or the context otherwise requires, capitalized terms used in this Agreement which are defined in the UCC shall have the meaning given
such term in the UCC; (c) references to any amount as on deposit or outstanding on any particular date means such amount at the close of business on such day; (d) the words “hereof,” “herein” and “hereunder”
and words of similar import refer to this Agreement as a whole and not to any particular provision of this Agreement; (e) references to any Section, Schedule or Exhibit are references to Sections, Schedules and Exhibits in or to this Agreement,
and references to any paragraph, subsection, clause or other subdivision within any Section or definition refer to such paragraph, subsection, clause or other subdivision of such Section or definition; (f) the term “including” means
“including without limitation”; (g) references to any law or regulation refer to that law or regulation as amended from time to time and include any successor law or regulation; (h) references to any agreement refer to that
agreement as from time to time amended, restated or supplemented or as the terms of such agreement are waived or modified in accordance with its terms; (i) references to any Person include that Person’s successors and assigns;
(j) headings are for purposes of reference only and shall not otherwise affect the meaning or interpretation of any provision hereof; and (k) words in the singular include the plural and words in the plural include the singular. 

SECTION 15. Counterparts. This Agreement may be executed in counterparts, all of which when so executed shall together constitute but
one and the same agreement. 
 SECTION 16. Severability. Any provision of this Agreement that is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such 

  

					
		 	12	 	Administration Agreement

 
prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable
such provision in any other jurisdiction. 
 SECTION 17. Not Applicable to General Electric Capital Corporation in Other Capacities.
Nothing in this Agreement shall affect any obligation General Electric Capital Corporation may have in any other capacity. 
 SECTION 18.
Limitation of Liability of the Trustee. It is expressly understood and agreed by the parties hereto that (a) this document is executed and delivered by BNY Mellon Trust of Delaware, not individually or personally, but solely as Trustee
of the Trust, (b) each of the representations, undertakings and agreements herein made on the part of the Trust is made and intended not as a personal representation, undertaking and agreement by BNY Mellon Trust of Delaware but is made and
intended for the purpose of binding only the Trust, (c) nothing herein contained shall be construed as creating any liability on BNY Mellon Trust of Delaware, individually or personally, to perform any covenant either expressed or implied
contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall BNY Mellon Trust of Delaware be personally liable
for the payment of any indebtedness or expenses of the Trust or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust under this document. 

SECTION 19. Indemnification. The Administrator shall indemnify the Trust (and its officers, directors, employees, trustees, and agents)
(the “Indemnified Parties”) for, and hold them harmless against, any losses, liability or expense, including attorneys’ fees reasonably incurred by them (all of the foregoing being collectively referred to as
“Indemnified Amounts”), incurred without negligence or willful misconduct on their part, arising out of or in connection with: (i) actions taken by either of them pursuant to instructions given by the Administrator pursuant to
this Agreement or (ii) the failure of the Administrator to perform its obligations hereunder. The indemnities contained in this Section shall survive the termination of this Agreement and the resignation or removal of the Administrator or the
Trust. 
 In the event any proceeding (including any governmental investigation) shall be instituted involving any Indemnified Party
pursuant to the preceding paragraph, such person shall promptly notify the Administrator in writing, and the Administrator shall have the option to assume the defense thereof. In any such proceeding, any Indemnified Party shall have the right to
retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party unless (i) the Administrator has failed to assume the defense thereof, (ii) the Administrator and the Indemnified Party
shall have mutually agreed to the retention of such counsel or (iii) the named parties to any such proceeding (including any impleaded parties) include both the Administrator and the Indemnified Party and representation of both parties by the
same counsel would be inappropriate due to actual or potential differing interests between them. It is understood that the Administrator shall not, in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the
fees and expenses of more than one separate firm (in addition to any local counsel) for all such Indemnified Parties. The Administrator shall not be liable for any settlement of any proceeding effected without its written consent, but if settled
with such consent or if there be a final judgment for the plaintiff, the Administrator agrees to indemnify the Indemnified Party from and against any loss or liability by reason of such settlement or judgment. 

  

					
		 	13	 	Administration Agreement

 SECTION 20. No Proceedings. From and after the Closing Date and until the date one year
plus one day following the date on which the Outstanding Balance of all Transferred Interests have been reduced to zero, the Administrator shall not, directly or indirectly, institute or cause to be instituted against the Trust any proceeding of the
type referred to in the definition of “Insolvency Event”. 
 [Remainder of page intentionally left blank.] 

  

					
		 	14	 	Administration Agreement

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

					
	GE SALES FINANCE MASTER TRUST
		
	By:	 	BNY MELLON TRUST OF DELAWARE,
not in its individual capacity but solely as Trustee on behalf of the Trust
		
	By:	 	 /s/ Kristine K. Gullo

		 	Name:	 	Kristine K. Gullo
		 	Title:	 	Vice President
	
	 GENERAL CAPITAL RETAIL BANK,
as Administrator

		
	By:	 	 /s/ Michael Lagnese

		 	Name:	 	Michael Lagnese
		 	Title:	 	SVP

  

					
		 	S-1	 	Administration AgreementEX-10.1

 Exhibit 10.1 

[For Section 16 Officers] 

LEAR CORPORATION 
 2009 LONG-TERM
STOCK INCENTIVE PLAN 
 2014 RESTRICTED STOCK UNIT TERMS AND CONDITIONS 

1. Definitions. Any term capitalized herein but not defined will have the meaning set forth in the Plan. 

2. Grant and Vesting of Restricted Stock Units. 

(a) As of the Grant Date specified in the letter that accompanies this document, the Employee will be credited with the number of Restricted
Stock Units set forth in the letter that accompanies this document. Each Restricted Stock Unit is a notional amount that represents one unvested share of Common Stock, $0.01 par value, of the Company (the “Common Stock”). Each Restricted
Stock Unit constitutes the right, subject to the terms and conditions of the Plan and this document, to distribution of a Share if and when the Restricted Stock Unit vests. If the Employee’s employment with the Company and all of its Affiliates
terminates before the date that all of the Restricted Stock Units vest, his or her right to receive the Shares underlying unvested Restricted Stock Units will be only as provided in Section 4. 

(b) Subject to Section 2(c) below, the Restricted Stock Units will vest on the third anniversary of the Grant Date. Notwithstanding
anything contained herein to the contrary, the right of an Employee to receive Shares underlying a Restricted Stock Unit will be forfeited if the Committee determines, in its sole discretion, that (i) the Employee has entered into a business or
employment relationship that is detrimentally competitive with the Company or substantially injurious to the Company’s financial interests; or (ii) the Employee has been discharged from employment with the Company or an Affiliate for
Cause. 
 (c) The right of the Employee to receive Shares underlying the Restricted Stock Units will be 100% forfeited unless the Company
achieves positive Adjusted Net Income in its 2014 fiscal year, as certified by the Committee. “Adjusted Net Income” means net income attributable to the Company, excluding the impact of restructuring costs and subject to adjustment
for other special items as provided in the Plan. 
 3. Rights as a Stockholder. 

(a) Unless and until a Restricted Stock Unit has vested and the Share underlying it has been distributed to the Employee, the Employee will
not be entitled to vote in respect of that RSU or that Share. 
 (b) If the Company declares a cash dividend on its shares, then, on the
payment date of the dividend, the Employee will be credited with dividend equivalents equal to the amount of cash dividend per share multiplied by the number of Restricted Stock Units credited to the Employee through the record date. The dollar
amount credited to an Employee under the preceding sentence will be credited to an account (“Account”) established for the 

 
Employee for bookkeeping purposes only on the books of the Company. The amounts credited to the Account will be credited as of the last day of each month with interest, compounded monthly, until
the amount credited to the Account is paid to the Employee. The rate of interest credited under the previous sentence will be the prime rate of interest as reported by the Midwest edition of the Wall Street Journal for the second business day of
each quarter on an annual basis. The balance in the Account will be subject to the same terms regarding vesting and forfeiture as the Employee’s Restricted Stock Units awarded under the accompanying letter and this document, and will be paid in
cash in a single sum at the time that the Shares associated with the Employee’s Restricted Stock Units are delivered (or forfeited at the time that the Employee’s Restricted Stock Units are forfeited). 

4. Termination of Employment. Subject to the forfeiture provisions of clause 2(b) above, the Employee’s right to receive the
Shares underlying his or her Restricted Stock Units after termination of his or her employment will be only as follows: 
 (a) End of
Service. If the Employee experiences an End of Service Date, the Employee will be entitled to receive the Shares underlying any Restricted Stock Units that have then vested. In addition, provided that the performance condition in
Section 2(c) is met as certified by the Committee, the Employee will be entitled to receive immediately the Shares underlying the number of Restricted Stock Units, if any, that have not yet vested but would have vested under Section 2 if
the Employee’s End of Service Date had been 24 months following his actual End of Service Date. The Employee will forfeit the right to receive Shares underlying any Restricted Stock Units that have not yet vested or would not have vested in the
next 24 months as described in the preceding sentence. The Employee’s “End of Service Date” is the date of his or her retirement after attaining age 55 and completing ten years of service. 

(b) Other Termination of Employment. If the Employee’s employment with the Company shall be terminated for Disability or upon the
Employee’s death, the Employee will be immediately entitled to receive the Shares underlying all of the Restricted Stock Units that have not yet vested under Section 2 above, to the extent not previously forfeited under Section 2(c).
Notwithstanding any language to the contrary in the Employee’s employment agreement and provided that the performance condition in Section 2(c) is met as certified by the Committee, if the Employee’s employment with the Company shall
be terminated by the Company for any reason other than Cause, or, for an Employee who is a party to an employment or severance agreement with the Company, by the Employee for Good Reason (as defined in the Employee’s employment or severance
agreement), the Employee will be entitled to receive, upon the later of the date of such termination of employment or the date the Committee certifies that the performance condition in Section 2(c) has been met, the Shares underlying all of the
Restricted Stock Units that have not yet vested under Section 2 above. If an Employee’s employment with the Company terminates for any reason other than those provided in Section 4(a) or the first two sentences of this
Section 4(b), the Employee or his or her estate (in the event of his or her death after termination) will forfeit the right to receive Shares underlying any Restricted Stock Units that have not yet vested. For each Employee who is a party to an
employment or severance agreement with the Company, for purposes of this Section 4, the term “Disability” shall mean “Incapacity” as defined in such Employee’s employment or severance agreement, as applicable. 

  
 2 

 5. Timing and Form of Payment. Except as provided in this Section or in Section 2(b)
or Section 4, once a Restricted Stock Unit vests, the Employee will be entitled to receive a Share in its place. Delivery of the Share will be made as soon as administratively feasible after its associated Restricted Stock Unit vests. Shares
will be credited to an account established for the benefit of the Employee with the Company’s administrative agent. The Employee will have full legal and beneficial ownership with respect to the Shares at that time. 

6. Assignment and Transfers. The Employee may not assign, encumber or transfer any of his or her rights and interests under the Award
described in this document, except, in the event of his or her death, by will or the laws of descent and distribution. 
 7. Withholding
Tax. The Company and any Affiliate will have the right to retain Shares or cash that are distributable to the Employee hereunder to the extent necessary to satisfy any withholding taxes, whether federal or state, triggered by the distribution of
Shares or cash pursuant to the Award reflected in this document. 
 8. Securities Law Requirements. 

(a) The Restricted Stock Units are subject to the further requirement that, if at any time the Committee determines in its discretion that the
listing or qualification of the Shares subject to the Restricted Stock Units under any securities exchange requirements or under any applicable law, or the consent or approval of any governmental regulatory body, is necessary as a condition of, or
in connection with, the issuance of Shares under it, then Shares will not be issued under the Restricted Stock Units, unless the necessary listing, qualification, consent or approval has been effected or obtained free of any conditions not
acceptable to the Committee. 
 (b) No person who acquires Shares pursuant to the Award reflected in this document may, during any period of
time that person is an affiliate of the Company (within the meaning of the rules and regulations of the Securities and Exchange Commission under the Securities Act of 1933 (the “1933 Act”)) sell the Shares, unless the offer and sale is
made pursuant to (i) an effective registration statement under the 1933 Act, which is current and includes the Shares to be sold, or (ii) an appropriate exemption from the registration requirements of the 1933 Act, such as that set forth
in Rule 144 promulgated under the 1933 Act. With respect to individuals subject to Section 16 of the Exchange Act, transactions under this Award are intended to comply with all applicable conditions of Rule 16b-3, or its successors under the
Exchange Act. To the extent any provision of the Award or action by the Committee fails to so comply, the Committee may determine, to the extent permitted by law, that the provision or action will be null and void. 

9. No Limitation on Rights of the Company. Subject to Sections 4.3 and 15.2 of the Plan, the grant of the Award described in this
document will not in any way affect the right or power of the Company to make adjustments, reclassification or changes in its capital or business structure, or to merge, consolidate, dissolve, liquidate, sell or transfer all or any part of its
business or assets. 

  
 3 

 10. Plan, Restricted Stock Units and Award Not a Contract of Employment. Neither the Plan,
the Restricted Stock Units nor any other right or interest that is part of the Award reflected in this document is a contract of employment, and no terms of employment of the Employee will be affected in any way by the Plan, the Restricted Stock
Units, the Award, this document or related instruments, except as specifically provided therein. Neither the establishment of the Plan nor the Award will be construed as conferring any legal rights upon the Employee for a continuation of employment,
nor will it interfere with the right of the Company or any Affiliate to discharge the Employee and to treat him or her without regard to the effect that treatment might have upon him or her as an Employee. 

11. Employee to Have No Rights as a Stockholder. Except as provided in Section 3 above, the Employee will have no rights as a
stockholder with respect to any Shares subject to the Restricted Stock Units prior to the date on which he or she is recorded as the holder of those Shares on the records of the Company. 

12. Notice. Any notice or other communication required or permitted hereunder must be in writing and must be delivered personally, or
sent by certified, registered or express mail, postage prepaid. Any such notice will be deemed given when so delivered personally or, if mailed, three days after the date of deposit in the United States mail, in the case of the Company to 21557
Telegraph Road, Southfield, Michigan, 48033, Attention: General Counsel and, in the case of the Employee, to the last known address of the Employee in the Company’s records. 

13. Governing Law. This document and the Award will be construed and enforced in accordance with, and governed by, the laws of the
State of Michigan, determined without regard to its conflict of law rules. 
 14. Code Sections 409A and 162(m). Notwithstanding any
other provision in this Restricted Stock Unit document, if an Employee is a “specified employee” (as such term is defined for purposes of Code Section 409A) at the time of his or her termination of employment, no amount that is
subject to Code Section 409A and that becomes payable by reason of such termination of employment shall be paid to the Employee before the earlier of (i) the expiration of the six-month period measured from the date of the Employee’s
termination of employment, and (ii) the date of the Employee’s death. This Award is intended to qualify for the Performance-Based Exception (as defined in the Plan) under Code Section 162(m). 

15. Incentive Compensation Recoupment Policy. Notwithstanding any provision in the Plan or in this document to the contrary, the Award
is subject to the Incentive Compensation Recoupment Policy established by the Company, as amended from time to time. 
 16. Plan Document
Controls. The rights granted under this Restricted Stock Unit document are in all respects subject to the provisions of the Plan to the same extent and with the same effect as if they were set forth fully therein. If the terms of this document
or the Award conflict with the terms of the Plan document, the Plan document will control. 

  
 4

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