Document:

EX-10.1

 Exhibit 10.1 

THIRD AMENDMENT 
 TO THE 

SONIC AUTOMOTIVE, INC. 

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 

(“SERP”) 
 THIS AMENDMENT IS ADOPTED AS
OF THE 12th DAY OF February, 2015, by Sonic Automotive, Inc. (the “Company”) to be effective as of the date hereof; 

W I T N E S S E T H: 
 WHEREAS, the Company
adopted the Sonic Automotive, Inc. Supplemental Executive Retirement Plan (the “SERP”) effective January 1, 2010; 
 WHEREAS, Article VII of
the SERP permits the Company, by action taken by the Compensation Committee of the Board of Directors of the Company, to amend the SERP at any time and for any reason, provided that any such amendment shall not reduce the vested accrued benefits of
any participant accrued as of the date of any such amendment without the written consent of the participant; and 
 WHEREAS, the Compensation Committee of
the Board of Directors of the Company wishes to amend the SERP in order to provide that the SERP’s reduction of a participant’s accrued benefit for early separation from service with the Company shall not apply to currently employed
participants whose separation from service occurs upon or following a change in control of the Company; 
 NOW, THEREFORE, the SERP is hereby amended
effective as of the date hereof as follows: 
  

	 	1.	Section 3 of Schedule A to the SERP, as previously amended and restated, is amended to add the following sentence to the end thereof to read as follows: 

“Notwithstanding the foregoing, in the event of a Change in Control, this Section 3 shall not apply to Participants at such time who
were Employees immediately prior to the Change in Control, regardless of whether or not such Participants remain Employees upon or following the Change in Control.” 

In this regard, Schedule A to the SERP, as previously amended and restated, is deleted in its entirety, to be replaced by the amended and
restated Schedule A attached hereto as Appendix A. 
  

	 	2.	For the avoidance of doubt, Schedule A-1 to the SERP, as previously amended and restated, remains unchanged and in full force and effect. 

 IN WITNESS WHEREOF, the Company, pursuant to approval by the Compensation Committee of the Board
of Directors, has caused this Amendment to be properly executed as of the day and year first above written. 
  

			
	SONIC AUTOMOTIVE, INC.
		
	By:		 /s/ B. Scott Smith

	Title:		 President

 APPENDIX A 

Amended and Restated 

Schedule A 
  

	1.	Accrued Benefit. 

  

	 	(a)	The Accrued Benefit for a Tier 1 Participant shall be fifty percent (50%) of such Participant’s Final Average Salary, determined in the sole discretion of the Committee. 

 

	 	(b)	The Accrued Benefit for a Tier 2 Participant shall be forty percent (40%) of such Participant’s Final Average Salary, determined in the sole discretion of the Committee. 

 

	 	(c)	The Accrued Benefit for a Tier 3 Participant shall be thirty-five percent (35%) of such Participant’s Final Average Salary, determined in the sole discretion of the Committee. 

 

	2.	Payment Schedule for Benefits other than Death Benefit. The Payment Schedule for the Retirement Benefit, Termination Benefit and Disability Benefit shall be annual installment payments in substantially equal
amounts to the Participant and/or (if applicable) to the Participant’s spouse for the duration of the “benefit payment period.” The “benefit payment period” is fifteen (15) years. Payments are made to the Participant
unless the Participant dies during the “benefit payment period” leaving a spouse surviving him or her, in which case payments continue to be made to the surviving spouse for the remainder of the benefit payment period. 

 

	3.	Reduction of Accrued Benefit for Early Separation from Service. Except as provided in Schedule A-1, the Accrued Benefit for purposes of determining the Termination Benefit shall be calculated by beginning with
the amount of the vested Retirement Benefit and then reducing that amount by ten percent (10%) for each year the Participant’s payment commencement date precedes the earliest date that such Participant would have qualified for Normal
Retirement (e.g., the earlier of attainment of age 65 or age 55 with at least ten Years of Service). Notwithstanding the foregoing, in the event of a Change in Control, this Section 3 shall not apply to Participants at such time who were
Employees immediately prior to the Change in Control, regardless of whether or not such Participants remain Employees upon or following the Change in Control. 

  

	4.	Vesting. Except as provided in Schedule A-1, Participants will vest in their Accrued Benefit according to the applicable schedule as follows: 

 

			
	 Years of Plan Service
	  	 Percent Vested

	Less than 1	  	0%
	At least 1 but less than 2	  	20%
	At least 2 but less than 3	  	40%
	At least 3 but less than 4	  	60%
	At least 4 but less than 5	  	80%
	5 or more	  	100%

	5.	Accelerated Vesting. The foregoing notwithstanding, Participants will become 100% vested in their Accrued Benefit upon death prior to Separation from Service, Disability prior to Separation from Service, or upon
a Change in Control prior to Separation from Service. 

  

	6.	Benefit Accrual. A Participant earns his or her Retirement Benefit over a period from the later of age 45 or the Participant’s effective date of participation in the Plan to the later of the
Participant’s Normal Retirement or the date the Participant becomes 100% vested in his or her Retirement Benefit.EX-4.1

 Exhibit 4.1 

UNANIMOUS WRITTEN CONSENT OF THE 

EXECUTIVE COMMITTEE OF ALLY FINANCIAL INC. 

THE UNDERSIGNED, being all of the members of the Executive Committee consisting of the Chief Financial Officer and the Senior Executive Vice
President of Finance and Corporate Planning (the “Executive Committee”) of Ally Financial Inc., a Delaware corporation (“Ally”), acting pursuant to a resolution duly adopted by the Board of Directors of the Company,
after careful consideration of all the facts, do hereby consent in writing, without a meeting, as of the date of the last signature hereon, that the following preamble and resolutions shall have the same force and effect as if adopted at a meeting
of the Executive Committee: 
 WHEREAS, the Executive Committee, acting pursuant to a resolution duly adopted by the Board of Directors of
the Company, has duly and validly adopted resolutions authorizing, among other things, the issuance and sale in an underwritten public offering (the “Offer”) of up to $1.5 billion aggregate principal amount of Senior Notes of Ally
in one or more tranches in such final amount, at such rate of interest, at such price, and with such final maturity date as determined by the Executive Committee; 

Approval of Terms; Establishment of Series 

NOW, THEREFORE, BE IT RESOLVED, that a series of securities is hereby established, the title of which shall be 3.250% Senior Notes due 2018
(the “2018 Notes”), which shall be issued pursuant to the indenture dated as of July 1, 1982 (as supplemented or otherwise modified from time to time, the “Indenture”), between Ally and The Bank of New York Mellon
(successor to Morgan Guaranty Trust Company of New York), as trustee (the “Trustee”), and shall have the terms (the “Pricing Terms”) set forth in the preliminary prospectus supplement dated February 10, 2015 attached
hereto as Exhibit A, as supplemented by the pricing term sheet attached hereto as Exhibit B-1; 
 NOW, THEREFORE, BE IT
RESOLVED, that a series of securities is hereby established, the title of which shall be 4.125% Senior Notes due 2022 (the “2022 Notes” and, together with the 2018 Notes, the “Notes”), which shall be issued pursuant to the
Indenture, and shall have the Pricing Terms set forth in the preliminary prospectus supplement dated February 10, 2015 attached hereto as Exhibit A, as supplemented by the pricing term sheet attached hereto as Exhibit B-2; 

NOW, THEREFORE, BE IT RESOLVED, that the form and terms of the Notes substantially in the form filed as an exhibit to the Company’s
registration statement on Form S-3 (333-193070) filed with the U.S. Securities and Exchange Commission (the “SEC”), as supplemented by the Pricing Terms, are hereby approved for issuance and sale; 

 Additional Actions 

FURTHER RESOLVED, that the Proper Officers are, and each of them hereby is, authorized and directed, for and on behalf of Ally, to file or
cause to be filed with the SEC, in compliance with Rule 424(b) under the Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated thereunder, a final prospectus supplement relating to the Notes in such form and
with such changes and modifications from the preliminary prospectus supplement dated February 10, 2015 as are deemed appropriate and necessary in the judgment of such officer, such approval to be conclusively evidenced by the filing of the
final prospectus supplement with the SEC; 
 FURTHER RESOLVED, that the underwriting agreement to be dated as of February 10, 2015 by
and among Ally and the underwriters (the “Underwriting Agreement”) relating to the Notes, substantially in the form presented to the Executive Committee is hereby approved by Ally, and each of the Proper Officers be, and each of
them hereby is, authorized and directed to execute and deliver in the name and on behalf of Ally, (i) the Underwriting Agreement and (ii) such other documents as may be necessary or advisable in connection with the Underwriting Agreement,
in each case in such form and having such terms as may be approved by the Proper Officer executing the same, such approval to be conclusively evidenced by such officer’s execution thereof; 

FURTHER RESOLVED, that the Proper Officers of Ally or any of them acting alone be, and each of them is, authorized and empowered in the name
and on behalf of Ally, (i) to make modifications and amendments to and to execute and deliver all documents and instruments related to and in furtherance of the foregoing resolutions, and (ii) from time to time, to execute and deliver such
other and further agreements, certificates, notices and other instruments or documents, and do and perform such acts and things, including, without limitation, causing to be paid any fees or expenses in connection with the Offer, as any of them, in
his or her discretion, may deem necessary or advisable in connection with these resolutions, the Offer, or any related instruments; 

FURTHER RESOLVED, that the Executive Committee adopts and incorporates by reference any form of specific resolution to carry into effect the
purpose and intent of the foregoing resolutions, or covering authority included in matters authorized in the foregoing resolutions, including forms of resolutions in connection therewith that may be required by the SEC, and any federal, state,
local, foreign or transnational, inspection person or agency, and the Secretary of Ally is directed to insert a copy thereof in the records of the Board of Directors and to certify the same as having been duly adopted by the Executive Committee;

 FURTHER RESOLVED, that all actions heretofore taken by any of the directors, officers, employees, representatives or agents of Ally or
any of its affiliates by and in connection with the Offer and any other actions, or contemplated by the Offer or otherwise referred to in the foregoing resolutions, be, and each of the same is, ratified, confirmed and approved in all respects as the
act and deed of Ally; and 

 FURTHER RESOLVED, that for the purposes of all of the foregoing resolutions the President, Chief
Executive Officer, the Chief Financial Officer, the Chief Risk Officer, any Executive Vice President and any Vice President, the Secretary and any Assistant Secretary, the Treasurer and any Assistant Treasurer of Ally is each a “Proper
Officer” and, collectively, the “Proper Officers.” 

 IN WITNESS WHEREOF, the undersigned members of the Executive Committee of Ally Financial Inc.
have executed and delivered this Unanimous Written Consent. This Unanimous Written Consent may be executed in counterparts. Facsimile and any other electronic signature of this Unanimous Written Consent is deemed to constitute original signature.
The Secretary of Ally Financial Inc. is hereby directed to file a signed copy of this Unanimous Written Consent in the books of the Board of Directors. 
  

					
	 /s/ Christopher A. Halmy
	 		 	 /s/ Bradley Brown

			
	 By: Christopher A. Halmy
 Dated:
February 10, 2015
	 		 	 By: Bradley Brown
 Dated: February 10,
2015

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