Document:

EX-10.34

 Exhibit 10.34 

THIS DIRECTOR FEE AGREEMENT dated July 1, 2021 (the “Agreement”) 

BETWEEN: 
  

	 	(1)	 Brookfield Asset Management Private Institutional Capital Adviser (Private Equity), L.P., a limited partnership
formed under the laws of Manitoba (“Brookfield”); and 

  

	 	(2)	 Clarios International, Inc., a corporation formed under the laws of the State of Delaware
(“Clarios”, and together with Brookfield, the “Parties” and each, a “Party”). 

RECITALS: 
 WHEREAS pursuant to a
stockholders agreement effective on or about July 1, 2021 (the “Stockholders Agreement”) between Clarios and the Sponsor Group (as such term is defined in the Stockholders Agreement), the Sponsor Group has negotiated certain
rights to appoint members of the Board of Directors of Clarios; 
 WHEREAS from time to time, pursuant to the Stockholders Agreement,
certain of Brookfield’s employees, or the employees of one or more of its institutional partners in respect of its investment in Clarios, may be elected to serve as directors of Clarios (the “Brookfield Directors”); 

WHEREAS directors of Clarios are entitled to an annual director retainer and to be reimbursed for reasonable expenses incurred by them
in their capacity as directors, as further described in Section 1.1 below (collectively, the “Director Fees”); 

WHEREAS the internal policies of Brookfield and those of its institutional partners, respectively, prohibit employees who are
Brookfield Directors from personally receiving the Director Fees from Clarios; 
 WHEREAS the Parties wish to enter into this
Agreement on the terms set forth below to arrange for the provision of the director services by the Brookfield Directors in exchange for the payment of the Director Fees payable for the services of the Brookfield Directors (the “Subject
Fees”) by Clarios directly to Brookfield. 
 NOW THEREFORE, for good and valuable consideration, the receipt and adequacy of
which are hereby acknowledged by each Party, the Parties agree as follows: 
  

	1	 Remuneration and Expenses 

 

	1.1	 Clarios shall pay to Brookfield the Subject Fees at the times and on the other terms consistent with payment
practice for the other members of the board of directors of Clarios. For greater certainty, the Subject Fees shall consist of the following amounts, payable in cash from the date of the closing of the initial public offering of Clarios on the New
York Stock Exchange: 

  

	 	(a)	 the annual director retainer for each Brookfield Director, initially set at US$230,000; 

	 	(b)	 to the extent a Brookfield Director serves in the capacity of: (i) Chair of the Board; (ii) Chair of
a Committee or (iii) Committee Members, the additional fees payable for such service; 

  

	 	(c)	 any other compensation awarded to or payable to the Brookfield Directors as decided by the Governance and
Compensation Committee of the Board of Directors of Clarios from time to time; and 

  

	 	(d)	 As set out in Clarios’ corporate policies, reasonable out-of-pocket and documented expenses incurred by a Brookfield Director with respect to the attendance by such director at meetings of the Board and its Committees and/or in their respective capacity as
directors, that are not reimbursed directly by Clarios to the Brookfield Director. 

  

	1.2	 The payment of the Subject Fees to Brookfield shall be by wire transfer to an account designated in writing by
Brookfield substantially concurrent with the payment to other Directors of Clarios. 

  

	1.3	 For the avoidance of doubt, the fee arrangements set forth in this Agreement shall apply only to members of the
Board of Directors of Clarios who are employed by Brookfield, its affiliates or its institutional partners in respect of its investment in Clarios, and not to any other member of the Board of Directors of Clarios put forward by Brookfield or its
affiliates, each of whom shall be entitled to receive Director Fees directly in accordance with Clarios’ director compensation policies and procedures. 

  

	2	 Record-Keeping 

 

	2.1	 Brookfield will advise Clarios from time to time which members of the Board of Directors are Brookfield
Directors for purposes of the fee arrangements set forth in this Agreement. 

  

	2.2	 The initial Brookfield Directors, along with the Subject Fees owing to Brookfield on an annual basis, are set
forth in Schedule “A” hereto. 

  

	3	 Share Ownership Requirements 

 

	3.1	 The Parties agree that no Brookfield Director will be subject to the provisions of any share ownership policies
or guidelines of Clarios that requires members of the Board of Directors of Clarios to own common shares or common share equivalents in Clarios. 

  

	4	 Term and Termination 

 

	4.1	 The term of this Agreement shall continue until there is no longer any Brookfield Director serving on the Board
of Directors of Clarios, at which time this Agreement shall be automatically terminated. 

  

	4.2	 Brookfield may terminate this Agreement immediately at any time by giving 30 days’ notice in writing to
Clarios, following which Clarios will commence paying the Director Fees to any Brookfield Directors in the ordinary course, unless otherwise agreed with the Brookfield Directors. 

  
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	5	 Notices 

  

	5.1	 Any notice required or desired to be delivered under this Agreement shall be in writing and delivered by mail
or electronic mail addressed to: 

  

	 	(a)	 If to Clarios: 

5757 N Green Bay Ave Florist Tower, Milwaukee, WI 53209 

E-mail: claudio.morfe@clarios.com 

Attention: Claudio Morfe 
  

	 	(b)	 If to Brookfield: 

Brookfield Place 
 181 Bay Street,
Suite 300 
 Toronto, Ontario M5J 2T3 

E-mail: aj.silber@brookfield.com 

Attention: A.J. Silber 
  

	6	 Counterparts 

This Agreement may be executed by the parties hereto in separate counterparts each of which when executed and delivered shall constitute an
original and shall together constitute one and the same agreement. 
  

	7	 Severance 

If any provision in this Agreement is determined to be void or unenforceable in whole or in part for any reason whatsoever such invalidity or
unenforceability shall not affect the remaining provisions of this Agreement and such void or unenforceable provisions shall be deemed to be severable from any other provision of this Agreement. 

 

	8	 Amendment 

No amendment of this Agreement shall be effective unless made in writing and signed by the Parties. 

 

	9	 Successors and Assigns 

This Agreement shall enure to the benefit of, and be binding on, the Parties and their respective successors and permitted assigns. Neither
Party may assign or transfer, whether absolutely, by way of security or otherwise, all or any part of its respective rights or obligations under this Agreement without the prior written consent of the other Party. 

 

	10	 Entire Agreement 

This Agreement constitutes the entire agreement between the Parties pertaining to the subject matter of this Agreement and supersedes all prior
agreements, understandings, negotiations and discussions, whether oral or written. 

  
 3 

	11	 Governing Law and Jurisdiction 

This Agreement and any dispute, claim, suit, action or proceeding of whatever nature arising out of or in any way related to it or its
formation (including any non-contractual disputes or claims) are governed by, and construed in accordance with, the laws of the State of Delaware without regard to its rules of conflict of laws. 

  
 4 

 In witness whereof the parties hereto have entered into this Agreement on the day and year first
above written. 
  

					
	CLARIOS INTERNATIONAL INC.
		
	By:	 	 /s/ Claudio Morfe

		 	Name:	 	Claudio Morfe
		 	Title:	 	Vice President, General 
Counsel & Corporate 
Secretary

  

					
	BROOKFIELD ASSET MANAGEMENT PRIVATE INSTITUTIONAL CAPITAL ADVISER (PRIVATE EQUITY), L.P. 
by its general partner, BROOKFIELD CAPITAL PARTNERS LTD.
		
	By:	 	 /s/ A.J. Silber

		 	Name:	 	A.J. Silber
		 	Title:	 	Senior Vice President

  
 5 

 SCHEDULE “A” 

Summary of Subject Fees 
  

													
	 Name of

Director
	  	Board
Annual
Retainer	 	  	Additional
Committee
Chair Retainer	 	  	Total ($)	 
	 John Barkhouse
	  	$	230,000	 	  	$	15,000	 	  	$	245,000	 
	 Mark Weinberg
	  	$	230,000	 	  	 	—  	 	  	$	230,000	 
	 Justin Shaw
	  	$	230,000	 	  	 	—  	 	  	$	230,000	 
	 Bertrand Villon
	  	$	230,000	 	  	 	—  	 	  	$	230,000	 
	 TOTAL ($)
	  	$	920,000	 	  				  	$	935,000EX-10.35

 Exhibit 10.35 

 

			
	

	  	 Florist Tower
 5757 N. Green Bay Avenue,
Glendale, WI 53209
 www.Clarios.com

 June     , 2021 
  

			
	  
	  	
	  
	  	
	  
	  	

 Dear                     ,

 I am pleased to formally confirm our offer to you to join the Board of Directors (the “Board”) of Clarios International Inc., a Delaware
corporation (the “Company”), as a member of the Board (“Director”) and the                      Committee of the
Board. We are excited about adding your experience and depth of knowledge to the leadership of the Company. Your appointment to the Board and the
                     Committee of the Board will commence on July 1, 2021, shortly prior to the initial public offering of the Company
(“IPO”), expected to be completed in July 2021. 
 During the period of your service, you agree to make reasonable efforts to attend all
meetings of the Board and the                      Committee and any other committee of the Board on which you may serve (either in person or, as an
alternative if not possible, virtually or by telephone) and to devote a reasonable amount of your business time to your services to the Company commensurate with your role as a Director and member of the
                     Committee of the Board. 
 The
basic responsibility of a Director is one of oversight. You are required to exercise a duty of care, duty of undivided loyalty and duty of candor to the Company and its stockholders, which includes the exercise of your business judgment in good
faith, on a reasonably informed basis and in a manner that you reasonably believe to be in the best interests of the Company and its stockholders. In discharging this responsibility, you are entitled to rely on the honesty and integrity of officers,
employees, counsel, advisors and auditors. 
 You are expected to attend Board meetings and meetings of committees on which you serve, to spend the time
needed and meet as frequently as necessary to properly discharge your responsibilities and to ensure that other existing or future commitments do not materially interfere with your responsibilities as a Director. Management will distribute
(electronically, to the extent practicable) to you at least one week (or, if that is not feasible, as soon as practicable) before each meeting information that would reasonably be expected to be important to understanding the business to be
conducted at the meeting. You are expected to review this information before the meeting. 
 In connection with your service as a Director and member of the
                     Committee of the Board, you will receive an annual retainer of $         (the
“Retainer”). The Retainer will be paid in the form of cash only on a pro-rated basis from July 1, 2021 until closing of the IPO, whenever that occurs. From the time of the IPO (subject to
amendment by the Board), the Retainer shall be paid as follows: 

  
 

 

                     

June     , 2021 
 Page 3 of 3 

 

	i.	 $85,000 in cash for your membership on the Board and the Governance and Compensation Committee, with payments
to be made in equal quarterly installments in arrears and prorated for your partial year of service during the 2021 fiscal year; 

  

	ii.	 $    ,000 in cash for your membership [chairmanship of] in the
                     Committee, with payments to be made in equal quarterly installments in arrears and prorated for your partial year of service
during the 2021 fiscal year; and 

  

	iii.	 $145,000 in the form of deferred stock units (valued upon grant), with the first grant made at the time of the
IPO and priced at the same price as the IPO and all subsequent grants made as of the first business day following the date of the Annual Meeting of the Company’s shareholders (starting with the Annual Meeting that occurs during the 2022 fiscal
year). 

 All deferred stock units granted will have a one-year vesting schedule, and vest in full
at each Annual Meeting of the Company’s shareholders, with the initial grant made at the time of the IPO vesting in full at the Annual Meeting that occurs during the 2022 fiscal year. 

At your option, you may elect to receive up to the entire Retainer amount of $         in the form of deferred stock
units by contacting the Corporate Secretary of the Board, Claudio Morfe, at claudio.morfe@clarios.com. This election must be made prior to the issuance of deferred stock units, initially at the time of the IPO, and at each Annual Meeting
thereafter. 
 You will also be reimbursed for all reasonable out-of-pocket
business expenses, consistent with the Company’s policies. 
 As a member of the Board, you will be covered by the Company’s directors’
liability insurance on the same basis as the other members of the Board and will be covered by the directors’ indemnification provisions contained in the Company’s organizational documents. During the period of your service as a member of
the Board, you agree to observe and comply with all lawful rules, regulations, policies and procedures established by the Company from time to time and all applicable laws, rules and regulations that relate to your appointment. During your Board
service, you will not undertake any outside activity, whether or not competitive with the business of the Company or its affiliates, that could reasonably give rise to a conflict of interest or otherwise interfere with any of your duties or
obligations to the Company or any of its affiliates. 
 This letter agreement sets forth the entire agreement between the parties and supersedes and
terminates all prior and contemporaneous communications, agreements and understandings, written or oral, with respect to the terms and conditions of your engagement by the Company. This letter agreement may not be modified or amended, and no breach
shall be deemed to be waived, unless agreed to in writing by you and a duly authorized representative of the Company. 
 Nothing in this offer should be
construed to interfere with or otherwise restrict in any way the rights of the Company and its shareholders to remove any individual from the Board at any time in accordance with the provisions of applicable law and the Company’s organizational
documents. 

  
 

 

                     

June     , 2021 
 Page 3 of 3 

 

 
This letter agreement shall be construed and enforced under and be governed in all respects by the laws of Delaware without regard to any conflict of law principles that would result in the
application of the laws of any other jurisdiction. 
 We are very excited to have you join our team and are very confident that you will find your position
at the Company both professionally and personally rewarding. If the terms of the offer are acceptable to you, please indicate your acceptance of the foregoing terms by signing the enclosed copy of this letter and returning it to me. 

 

			
	CLARIOS INTERNATIONAL INC.
		
	By:	 	  

	Name:	 	John Barkhouse
	Title:	 	Director

  

	
	AGREED AND ACCEPTED:

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