Document:

Exhibit 10.2

 

Special Fiscal 2022 Form

 

AAR CORP.

 

Restricted Stock Agreement

(“Agreement”)

 

Subject to the provisions
of the AAR CORP. 2013 Stock Plan and the Long-Term Incentive Plan for Fiscal 2022 (together, the “Plan”), the terms of which
are hereby incorporated by reference, and in consideration of the agreements of the Grantee herein provided, AAR CORP. a Delaware corporation
(“Company”), hereby grants to Grantee a restricted stock award (“Award”), effective March 25, 2022 (“Date
of Award”), for the number of shares of common stock (“Common Stock”) of the Company, $1.00 par value (“Award
Shares”) set forth in the Company’s notification of Award grant letter to the Grantee, and incorporated herein by reference,
subject to the forfeiture and nontransferability provisions hereof and the other terms and conditions set forth herein:

 

1.             Acceptance
by Grantee. The Award is conditioned upon the acceptance by the Grantee of the terms and conditions of the Award as set forth in
this Agreement. The Grantee must confirm acceptance of the Award and this Agreement on Morgan Stanley’s web site (www.stockplanconnect.com).
If the Grantee does not accept the Award and this Agreement within 30 days from the date of the notification of the Award, the Award
referenced herein shall expire unless the acceptance date is extended in writing by the Company.

 

2.             Restrictions.
The Grantee represents that he is accepting the Award Shares without a view to the distribution of said Shares and that he will not sell,
assign, transfer, pledge or otherwise encumber the Award Shares during the period commencing on the Date of Award and ending on the date
restrictions applicable to such Award Shares are released pursuant to paragraph 3 of this Agreement (“Restrictive Period”).

 

3.             Release
of Restrictions. Subject to the provisions of paragraph 4 below, the restrictions described in paragraph 2 above shall be released
with respect to 100% of the Award Shares on March 25, 2025, except as follows:

 

(a)              
In General. If the Grantee’s employment with the Company and all Subsidiaries of the Company terminates prior to the
last day of the Restrictive Period for any reason other than Retirement, death or Disability, the Grantee shall forfeit to the Company
all Award Shares not previously released from the restrictions of paragraph 2 hereof.

 

(b)              
Retirement. If the Grantee’s employment with the Company and all Subsidiaries of the Company terminates by reason
of Retirement prior to the last day of the Restrictive Period, the Restrictive Period shall terminate on March 25, 2025.

 

For this purpose, “Retirement”
means the Grantee’s voluntary termination of employment, or his termination of employment by the Company or a Subsidiary without
Cause (as defined in Section 4 below), when he has (i) attained age 65 or (ii) attained age 55 and his age plus the number of his consecutive
years of service with the Company and Subsidiaries is at least 75.

 

     
 

     

    

 

(c)              
Death or Disability. If the Grantee’s employment with the Company and all Subsidiaries of the Company terminates by
reason of death or Disability occurring on or after the Date of Award and on or before March 25, 2025, the Restrictive Period shall terminate
as to a pro-rata share of Award Shares determined by multiplying the number of Award Shares by a fraction, the numerator of which is the
number of full months that have elapsed from the Date of Award to the date of death or Disability, and the denominator of which is 36
(the number of full months in the Restrictive Period. The remaining shares shall be forfeited and returned to the Company. For this purpose,
 “Disability” means the inability of the Grantee to engage in any substantial gainful activity by reason of any medically determinable
physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous
period of not less than 12 months.

 

(d)              
Restrictive Covenant. If at any time prior to release from the restrictions hereunder, Grantee, without the Company’s
express written consent, directly or indirectly, alone or as a member of a partnership, group, or joint venture or as an employee, officer,
director, or greater than 1% stockholder of any corporation, or in any capacity engages in any activity which is competitive with any
of the businesses conducted by the Company or its affiliated companies at any time during the Grantee’s term of employment, the
Grantee shall forfeit to the Company all Award Shares not previously released from the restrictions of paragraph 2 hereof.

 

4.             Change
in Control. In the event of a Change in Control of the Company, and within two years following such Change in Control, either the
Grantee’s employment is terminated by the Company or a Subsidiary of the Company without Cause, or the Grantee terminates his employment
with the Company and all Subsidiaries for Good Reason, then notwithstanding any conditions or restrictions contained in this Agreement,
the Restrictive Period shall terminate as to all Award Shares not previously released. For this purpose, (a) “Cause” means
(i) the Grantee’s dishonesty, fraud or breach of trust, gross negligence or substantial misconduct in the performance of, or substantial
nonperformance of, his assigned duties or willful violation of Company policy, (ii) any act or omission by the Grantee that is a substantial
cause for a regulatory body with jurisdiction over the Company to request or recommend the suspension or removal of the participant or
to impose sanctions upon the Company or the Grantee, or (iii) a material breach by the Grantee of any applicable employment agreement
between him and the Company, and in each case, the Company shall have the sole discretion to determine whether a Grantee’s termination
of employment is for Cause; and (b) “Good Reason” means (i) a material reduction in the nature or scope of the Grantee’s
duties, responsibilities, authority, power or functions from those enjoyed by the Grantee immediately prior to the Change in Control,
or a material reduction in the Grantee’s compensation (including benefits), occurring at any time during the two-year period immediately
after the Change in Control, or (ii) a relocation of the Grantee’s primary place of employment of at least 100 miles.

 

AAR Restricted Stock Agreement

Fiscal 2022

 

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5.           Change
in Outstanding Shares. In the event of any change in the outstanding shares of Common Stock by reason of any stock dividend or split,
recapitalization, merger, consolidation, combination or exchange of shares or other similar corporate change, the Award Shares shall
be treated in the same manner in any such transaction as other shares of Common Stock. Any additional shares of stock received by Grantee
with respect to the Award Shares in any such transaction shall be subject to the same restrictions as are then applicable to those Award
Shares for which the additional shares have been issued.

 

6.             Rights of Grantee. As the holder of the Award Shares, the Grantee is entitled to all of the rights of a stockholder of AAR
CORP. with respect to any of the Award Shares, when issued, including, but not limited to, the right to receive dividends declared and
payable since the Date of Award.

 

7.             Shares.
In aid of the restrictions set forth in paragraph 2, the Grantee will be required to execute a stock power in favor of the Company, which
will be cancelled upon release of restrictions with respect to Award Shares released. Award Shares shall be held by the Company in electronic
book entry form on the records of the Company’s Transfer Agent, together with the executed stock power, for the account of the
Grantee until such restrictions are released pursuant to the terms hereof, or such Award Shares are forfeited to the Company as provided
by the Plan or this Agreement. The Grantee shall be entitled to the Award Shares as to which such restrictions have been released, and
the Company agrees to issue such Award Shares in electronic form on the records of the Transfer Agent. Upon request by the Grantee, the
Transfer Agent will transfer such released Award Shares in electronic form to the Grantee’s broker for the Grantee’s account
or issue certificates in the name of the Grantee representing the Award Shares for which restrictions have been released.

 

8.             Legend.
The Company may, in its discretion, place a legend or legends on any electronic shares or certificates representing Award Shares issued
to the Grantee that the Company believes is required to comply with any law or regulation.

 

9.           Committee
Powers. The Committee may subject the Award Shares to such conditions, limitations or restrictions as the Committee determines to
be necessary or desirable to comply with any law or regulation or with the requirements of any securities exchange. At any time during
the Restrictive Period, the Committee may reduce or terminate the Restrictive Period otherwise applicable to all or any portion of the
Award Shares.

 

10.         Withholding
Taxes. The Grantee shall pay to the Company an amount sufficient to satisfy all minimum tax withholding requirements, including those
arising under federal, state and local income tax laws, prior to the delivery of any Award Shares. Payment of the minimum withholding
requirement may be made by one or more of the following methods: (a) in cash, (b) in cash received from a broker-dealer to whom the Grantee
has submitted irrevocable instructions to deliver the amount of withholding tax to the Company from the proceeds of the sale of shares
of Common Stock subject to the Award, (c) by delivery to the Company of other Common Stock owned by the Grantee that is acceptable to
the Company, valued at its fair market value on the date of payment, (d) by certifying to ownership by attestation of such previously
owned Common Stock, or (e) by having shares of Common Stock withheld from the Award Shares otherwise distributable to the Grantee. Payment
shall be made pursuant to the on-line procedures set forth on the AAR 2013 Stock Benefit Plan online web site through Morgan Stanley
(www.stockplanconnect.com).

 

11.           Postponement
of Distribution. Notwithstanding anything herein to the contrary, the distribution of any portion of the Award Shares shall be subject
to action by the Board taken at any time in its sole discretion (a) to effect, amend or maintain any necessary registration of the Plan
or the Award Shares distributable in satisfaction of this Award under the Securities Act of 1933, as amended, or the securities laws
of any applicable jurisdiction, (b) to permit any action to be taken in order to (i) list such Award Shares on a stock exchange if the
Common Stock is then listed on such exchange or (ii) comply with restrictions or regulations incident to the maintenance of a public
market for its Shares of Common Stock, including any rules or regulations of any stock exchange on which the Award Shares are listed,
or (c) to determine that such Award Shares and the Plan are exempt from such registration or that no action of the kind referred to in
(b)(ii) above needs to be taken; and the Company shall not be obligated by virtue of any terms and conditions of this Award or any provision
of this Agreement or the Plan to issue or release the Award Shares in violation of the Securities Act of 1933 or the law of any government
having jurisdiction thereof. Any such postponement shall not shorten the term of any restriction attached to the Award Shares and neither
the Company nor its directors or officers shall have any obligation or liability to the Grantee or to any other person as to which issuance
under the Award Shares was delayed.

 

AAR Restricted Stock Agreement

Fiscal 2022

 

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12.           Recoupment.
Notwithstanding any other provision of this Agreement, to the extent required by applicable law, including the Dodd-Frank Wall Street
Reform and Consumer Protection Act, or pursuant to the Company’s policy as may be in effect, the Company shall have the right to
seek recoupment of all or any portion of an Award (including by forfeiture of any outstanding Award Shares or by the Grantee’s
remittance to the Company of Award Shares pursuant to which the restrictions previously lapsed or of a cash payment equal to Award Shares
pursuant to which the restrictions previously lapsed). The value with respect to which such recoupment is sought shall be determined
by the Company. The Company shall be entitled, as permitted by applicable law, to deduct the amount of such payment from any amounts
the Company may owe to the Grantee.

 

13.           Miscellaneous.

 

(a)              
This Award and this Agreement shall be construed, administered and governed in all respects under and by the laws of the State
of Illinois.

 

(b)              
Capitalized terms used herein and not defined herein will have the meanings set forth in the Plan.

 

(c)              
Nothing in the Award shall confer on the Grantee any right to be or to continue in the employ of the Company or any of its Subsidiaries
or shall interfere in any way with the right of the Company or any of its Subsidiaries to terminate the employment of the Grantee at any
time for any reason or no reason.

 

(d)              This
Agreement has been examined by the parties hereto, and accordingly the rule of construction that ambiguities be construed against a party
which causes a document to be drafted shall have no application in the construction or interpretation hereof. If any part of this Agreement
is held invalid for any reason, the remainder hereof shall nevertheless remain in full force and effect.

 

(e)             This
Agreement constitutes the entire agreement between the parties concerning the subject matter hereof and any prior understanding or representation
of any kind antedating this Agreement concerning such subject matter shall not be binding upon either party except to the extent incorporated
herein; provided, however, that this Agreement, including paragraph 3, shall be subject to the provisions of any written employment or
severance agreement that has been or may be executed by the Grantee and the Company, and the provisions in such employment or severance
agreement concerning the Award shall supercede any inconsistent or contrary provision of this Agreement. No consent, waiver, modification
or amendment hereof, or additional obligation assumed by either party in connection herewith, shall be binding unless evidenced by a
writing signed by both parties and referring specifically hereto. No consent, waiver, modification or amendment with respect hereto shall
be construed as applicable to any past or future events other than the one in respect of which it was specifically made.

 

(f)               This
Agreement shall be construed consistent with the provisions of the Plan and in the event of any conflict between the terms of this Agreement
and the terms of the Plan, the terms of the Plan shall control and any terms of this Agreement which conflict with Plan terms shall be
void.

 

Questions concerning the provisions
of this Agreement should be directed to the Company’s Corporate Secretary: 630/227-2060; fax 630/227-2058.

 

AAR Restricted Stock Agreement

Fiscal 2022

 

    4EX-10.1

 Exhibit 10.1 

NINTH AMENDMENT dated as of March 21, 2022 between HONDA CANADA FINANCE INC., a Canada corporation (the “Borrower”) and
CANADIAN IMPERIAL BANK OF COMMERCE, as administrative agent, for and on behalf of the Banks party to the Credit Agreement (as defined below) (the “Administrative Agent”). 

WHEREAS, the Borrower, the Banks, the Administrative Agent, and the other Agents party thereto are party to a second amended and restated
credit agreement dated as of March 24, 2014 (as amended pursuant to an amendment dated as of June 30, 2014, a second amendment dated as of March 13, 2015, a third amendment dated as of March 23, 2016, a fourth amendment dated as
of March 23, 2017, a fifth amendment dated as of March 13, 2018, a sixth amendment dated as of March 12, 2019, a seventh amendment dated as of March 19, 2020 and an eighth amendment dated as of March 15, 2021, collectively,
the “Credit Agreement”); and 
 WHEREAS the Borrower has requested that each of the Tranche A Commitment Termination Date
and the Tranche B Commitment Termination Date be extended, and the Banks have agreed to such extension. 
 NOW THEREFORE IT IS AGREED: 

Section 1 Defined Terms. 

Capitalized terms used in this Amendment and not otherwise defined have the meanings specified in the Credit Agreement. 

Section 2 Amendments. 
  

	(1)	 Section 1.1 of the Credit Agreement is hereby amended as follows: 

 

	 	(a)	 The definition of “CDOR BA Rate” is hereby amended by deleting “Reuters Money Market CDOR page
as of 10:00 a.m., Toronto time” and replacing it with “applicable Refinitiv Benchmarks Services (UK) Limited page as at approximately 10:20 a.m., Toronto time”. 

 

	 	(b)	 The definition of “Prime Rate” is hereby amended by deleting “Reuters Screen CDOR Page as of
10:00 a.m. (Toronto time)” and replacing it with “applicable Refinitiv Benchmarks Services (UK) Limited page as at approximately 10:20 a.m., Toronto time”. 

 

	 	(c)	 The definition of “Tranche A Commitment Termination Date” is hereby amended by deleting “March
25, 2022” and replacing it with “March 25, 2023”. 

  

	 	(d)	 The definition of “Tranche B Commitment Termination Date” is hereby amended by deleting “March
25, 2025” and replacing it with “March 25, 2027”. 

  

	 	(e)	 The following new definitions are hereby inserted in Section 1.1 in the appropriate alphabetical order:

  

	 	(i)	 “CDOR” has the meaning assigned to it in Section 2.4(i). 

 

	 	(ii)	 “CDOR Scheduled Unavailability Date” has the meaning assigned to it in Section 2.4(i).

  

	 	(iii)	 “CDOR Successor Rate” has the meaning assigned to it in Section 2.4(i).

  

	 	(iv)	 “Erroneous Payment” has the meaning assigned to it in Section 12.12(a).

  

	 	(v)	 “Erroneous Payment Deficiency Assignment” has the meaning assigned to it in
Section 12.12(d). 

  

	 	(vi)	 “Erroneous Payment Impacted Facilities” has the meaning assigned to it in
Section 12.12(d). 

  

	 	(vii)	 “Erroneous Payment Return Deficiency” has the meaning assigned to it in Section 12.12(d).

  

	 	(viii)	 “Erroneous Payment Subrogation Rights” has the meaning assigned to it in
Section 12.12(d). 

  

	(2)	 Section 2.4(d) of the Credit Agreement is hereby amended by deleting “approximately 1, 2, 3 or 6
months” and replacing it with “approximately 1, 2 or 3 months”. 

  

	(3)	 Section 2.4 of the Credit Agreement is hereby amended by inserting the following new Section 2.4(i)
after the existing Section 2.4(h): 

  

	 	(i)	 Discontinuation of CDOR. 

 

	 	(i)	 If the Administrative Agent determines (which determination shall be conclusive absent manifest error), or the
Borrower or the Required Banks notify the Administrative Agent that the Borrower or Required Banks (as applicable) have determined that: 

  

	 	(A)	 adequate and reasonable means do not exist for ascertaining the CDOR BA Rate, including because the applicable
Refinitiv Benchmarks Services (UK) Limited page is not available or published on a current basis for the applicable contract period and such circumstances are unlikely to be temporary; 

 

	 	(B)	 the administrator of the Canadian Dollar Offered Rate (“CDOR”) or a Governmental Authority
having jurisdiction has made a public statement identifying a specific date after which CDOR will permanently or indefinitely cease to be made available or permitted to be used for determining the interest rate of loans; 

 

	 	(C)	 a Governmental Authority having jurisdiction over the Administrative Agent has made a public statement
identifying a specific date after which CDOR shall no longer be permitted to be used for determining the interest rate of loans (each such specific date in clause (B) above and in this clause (C) a “CDOR Scheduled Unavailability
Date”); or 

  

	 	(D)	 a material portion of syndicated loans currently being executed, or that include language similar to that
contained in this Section 2.4(i), are being executed or amended (as applicable) to incorporate or adopt a new benchmark interest rate to replace CDOR, 

  
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 then reasonably promptly after such determination by the Administrative Agent or receipt by
the Administrative Agent of such notice, as applicable, the Administrative Agent and the Borrower may mutually agree upon a successor rate to the CDOR BA Rate, and the Administrative Agent and the Borrower may amend this Agreement to replace the
CDOR BA Rate with an alternate benchmark rate (including any mathematical or other adjustments to the benchmark (if any) incorporated therein), giving due consideration to any evolving or then existing convention for similar Canadian Dollar
denominated syndicated credit facilities for such alternative benchmarks (any such proposed rate, a “CDOR Successor Rate”), together with any proposed CDOR Successor Rate conforming changes and, notwithstanding Section 13.4,
any such amendment shall become effective at 5:00 p.m. (Toronto time) on the fifth (5th) Business Day after the Administrative Agent shall have posted such proposed amendment to all Banks and the Borrower unless, prior to such time, Banks comprising
the Required Banks have delivered to the Administrative Agent written notice that such Required Banks do not accept such amendment. 
  

	 	(ii)	 If no CDOR Successor Rate has been determined and the circumstances under clause 2.4(i)(i)(A) above or a CDOR
Scheduled Unavailability Date has occurred (as applicable), the Administrative Agent will promptly so notify the Borrower and each Bank. Thereafter, the obligation of the Banks to make or maintain Accommodations pursuant to BA Instruments shall be
suspended (to the extent of the affected BA Instruments or contract periods). Upon receipt of such notice, the Borrower may revoke any pending request for a Drawing of, conversion to or rollover of BA Instruments, (to the extent of the affected BA
Instruments or contract periods) or, failing that, will be deemed to have converted such request into a request for a Prime Rate Loan in the amount specified therein. 

 

	 	(iii)	 CDOR (as referred in in clause (ii)(y) of the definition of “Prime Rate”) shall not be included or
referenced in the definition of Prime Rate upon adoption of any CDOR Successor Rate. 

  

	(4)	 Section 8.4 of the Credit Agreement is hereby amended by deleting each reference to “March 31,
2020” and replacing it with “March 31, 2021”. 

  

	(5)	 Section 12 of the Credit Agreement is hereby amended by inserting the following new Section 12.12
after the existing Section 12.11: 

 12.12 Erroneous Payments by the Administrative Agent.

 (a) If the Administrative Agent notifies a Bank, or any Person who has received funds on behalf of a Bank under or
pursuant to any of the Credit Documents (any such Bank or other recipient, a “Payment Recipient”) that the Administrative Agent has determined in its sole discretion (whether or not after receipt of any notice under immediately
succeeding clause (b)) that any funds received by such Payment Recipient from the Administrative Agent or any of its Affiliates were erroneously or mistakenly transmitted or paid to, or otherwise erroneously or mistakenly received by, such Payment
Recipient (whether or not known to such Bank or other Payment Recipient on its behalf) (any such funds, whether received as a payment, prepayment or repayment of principal, interest, fees, distribution or otherwise, individually and collectively, an
“Erroneous Payment”) and demands the return of such Erroneous Payment (or a portion thereof), such Erroneous Payment shall at all times remain the property of the Administrative Agent and shall be segregated by the Payment Recipient
and held in trust for the benefit of the Administrative Agent, and such Bank shall (or, with respect to any Payment 

  
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Recipient who received such funds on its behalf, shall cause such Payment Recipient to) promptly, but in no event later than two Business Days thereafter, return to the Administrative Agent the
amount of any such Erroneous Payment (or portion thereof) as to which such a demand was made, in same day funds (in the currency so received), together with interest thereon in respect of each day from and including the date such Erroneous Payment
(or portion thereof) was received by such Payment Recipient to the date such amount is repaid to the Administrative Agent in same day funds at the greater of (x) a fluctuating rate per annum equal to the overnight rate at which Canadian Dollars
may be borrowed by the Administrative Agent in the interbank market in an amount comparable to such Erroneous Payment (as determined by the Administrative Agent) and (y) a rate determined by the Administrative Agent in accordance with banking
industry rules or prevailing market practice for interbank compensation from time to time in effect. A notice of the Administrative Agent to any Payment Recipient under this Section 12.12 (a) shall be conclusive, absent manifest error. 

(b) Without limiting Section 12.12(a), each Bank, or any Person who has received funds on behalf of a Bank under or
pursuant to any of the Credit Documents, hereby further agrees that if it receives a payment, prepayment or repayment (whether received as a payment, prepayment or repayment of principal, interest, fees, distribution or otherwise) from the
Administrative Agent (or any of its Affiliates) (x) that is in a different amount than, or on a different date from, that specified in a notice of payment, prepayment or repayment sent by the Administrative Agent (or any of its Affiliates) with
respect to such payment, prepayment or repayment, (y) that was not preceded or accompanied by a notice of payment, prepayment or repayment sent by the Administrative Agent (or any of its Affiliates), or (z) that such Bank, or other such
recipient, otherwise becomes aware was transmitted, paid, or received, in error or by mistake (in whole or in part) in each case: 

(i) (A) in the case of clauses (x) or (y), an error shall be presumed to have been made (absent express written
confirmation from the Administrative Agent to the contrary) or (B) an error has been made (in the case of clause (z)), in each case, with respect to such payment, prepayment or repayment; and 

(ii) such Bank shall (and shall cause any other recipient that receives funds on its respective behalf to) promptly (and, in
all events, within one Business Day of its knowledge of such error) notify the Administrative Agent of its receipt of such payment, prepayment or repayment, the details thereof (in reasonable detail) and that it is so notifying the Administrative
Agent pursuant to this Section 12.12(b). 
 (c) Each Bank hereby authorizes the Administrative Agent to set-off, net and apply any and all amounts at any time owing to such Bank under any Credit Document, or otherwise payable or distributable by the Administrative Agent to such Bank from any source, against any amount
due to the Administrative Agent under Section 12.12(a) or under the indemnification provisions of this Agreement. 
 (d)
In the event that an Erroneous Payment (or portion thereof) is not recovered by the Administrative Agent for any reason, after demand therefor by the Administrative Agent in accordance with Section 12.12(a), from any Bank that has received such
Erroneous Payment (or portion thereof) (and/or from any Payment Recipient who received such Erroneous Payment (or portion thereof) on its behalf) 

  
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(such unrecovered amount, an “Erroneous Payment Return Deficiency”), upon the Administrative Agent’s notice to such Bank at any time, (i) such Bank shall be deemed to
have assigned its Accommodations Outstanding of the applicable Class (but not any of its Commitments with respect to such Class) with respect to which such Erroneous Payment was made (the “Erroneous Payment Impacted Facilities”) in
an amount equal to the Erroneous Payment Return Deficiency (or such lesser amount as the Administrative Agent may specify) (such assignment of the Accommodations Outstanding (but not any of its Commitments) of the Erroneous Payment Impacted
Facilities, the “Erroneous Payment Deficiency Assignment”) at par plus any accrued and unpaid interest (with the assignment fee to be waived by the Administrative Agent in such instance), and is hereby (together with the Borrower)
deemed to execute and deliver a Transfer Supplement with respect to such Erroneous Payment Deficiency Assignment, (ii) the Administrative Agent as the assignee Bank shall be deemed to acquire the Erroneous Payment Deficiency Assignment, and
(iii) upon such deemed acquisition, the Administrative Agent as the assignee Bank shall become a Bank hereunder with respect to such Erroneous Payment Deficiency Assignment and the assigning Bank shall cease to be a Bank hereunder with respect
to such Erroneous Payment Deficiency Assignment, excluding, for the avoidance of doubt, its obligations under the indemnification provisions of this Agreement and any of its applicable Commitments, which shall survive as to such assigning Bank. The
Administrative Agent may, in its discretion, sell any Accommodations Outstanding acquired pursuant to an Erroneous Payment Deficiency Assignment and, upon receipt of the proceeds of such sale, the Erroneous Payment Return Deficiency owing by the
applicable Bank shall be reduced by the net proceeds of the sale of such Accommodations Outstanding (or portion thereof), and the Administrative Agent shall retain all other rights, remedies and claims against such Bank (and/or against any recipient
that receives funds on its respective behalf). For the avoidance of doubt, no Erroneous Payment Deficiency Assignment will reduce the Commitments of any Class of any Bank and such Commitments under each Class shall remain available in
accordance with the terms of this Agreement. In addition, each party hereto agrees that, except to the extent that the Administrative Agent has sold an Accommodation Outstanding (or portion thereof) acquired pursuant to an Erroneous Payment
Deficiency Assignment, and irrespective of whether the Administrative Agent may be equitably subrogated, the Administrative Agent shall be contractually subrogated to all the rights and interests of the applicable Bank under the applicable Credit
Documents with respect to each Erroneous Payment Return Deficiency (the “Erroneous Payment Subrogation Rights”). 

(e) The parties hereto agree that an Erroneous Payment shall not pay, prepay, repay, discharge or otherwise satisfy any
Accommodations Outstanding or other amounts owed by the Borrower or any other Credit Party, except, in each case, to the extent such Erroneous Payment is, and solely with respect to the amount of such Erroneous Payment that is, comprised of funds
received by the Administrative Agent from (i) the Borrower or any other Credit Party or (ii) the proceeds of realization from the enforcement of one or more of the Credit Documents against or in respect of one or more of the Credit
Parties, in each case, for the purpose of making such Erroneous Payment. 
 (f) To the extent permitted by applicable law, no
Payment Recipient shall assert any right or claim to an Erroneous Payment, and hereby waives, and is deemed to waive, any claim, counterclaim, defense or right of set-off or recoupment with respect to any
demand, claim or counterclaim by the Administrative Agent for the return of any Erroneous Payment received, including waiver of any defense based on “discharge for value”, “good consideration” for the Erroneous Payment or change
of position by such Payment Recipient, any defense that the intent of the Administrative Agent was that such Payment Recipient retain the Erroneous Payment in all events, or any doctrine or defense similar to any of the foregoing. 

  
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 (g) Each party’s obligations, agreements and waivers under this
Section 12.12 shall survive the resignation or replacement of the Administrative Agent, or any assignment or transfer of rights or obligations by, or the replacement of, a Bank, the termination of the Commitments and/or the repayment,
satisfaction or discharge of all Accommodations Outstanding (or any portion thereof) and other amounts owing under any Credit Document. 

(h) For purposes of this Section 12.12, each Bank: 

(i) agrees it is executing and delivering this Agreement with respect to this Section 12.12 both on its own behalf and as
agent for and on behalf of its Affiliates referred to in this Section 12.12 and any Person receiving funds under or pursuant to any of the Credit Documents on behalf of such Bank or any of such Affiliates; 

(ii) represents, warrants, covenants and agrees that its Affiliates referred to in this Section 12.12 and any Person
receiving funds under or pursuant to any of the Credit Documents on behalf of such Bank or any of such Affiliates are bound by the provisions of this Section 12.12; and 

(iii) agrees that any matter or thing done or omitted to be done by such Bank, its Affiliates, or any Person receiving funds
under or pursuant to any of the Credit Documents on behalf of such Bank or any of such Affiliates which are the subject of this Section 12.12 will be binding upon such Bank and each Bank does hereby indemnify and save the Administrative Agent
and its Affiliates harmless from any and all losses, expenses, claims, demands or other liabilities of the Administrative Agent and its Affiliates resulting from the failure of such Bank, its Affiliates or such Persons to comply with their
obligations under and in respect of this Section 12.12, in each case, in accordance with and subject to the limitations in Section 12.5. 
  

	(6)	 Section 13.2(b) of the Credit Agreement and each of Exhibit “D”, Exhibit “F”, Exhibit
“G”, Exhibit “I” and Exhibit “J” of the Credit Agreement is hereby amended by (a) deleting the reference to a Fax number and (b) deleting the e-mail address
“Marina.Tellis@cibc.ca” and replacing it with “DLGO-Agency@cibc.com”. 

  

	Section	 3 Representations and Warranties. 

To induce the Administrative Agent to enter into this Amendment, the Borrower represents and warrants to the Administrative Agent and the Banks
as follows, which representations and warranties shall survive the execution and delivery hereof: 
  

	 	(a)	 The Borrower is duly organized and validly existing as a corporation under the laws of Canada;

  

	 	(b)	 The execution, delivery and performance of this Amendment has been duly authorized by the Borrower by all
necessary corporation action. This Amendment has been duly executed and delivered by the Borrower and constitutes a legal, valid and binding obligation of the Borrower enforceable in accordance with its terms, except as enforceability may be subject
to or limited by bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors’ rights in general and by general principles of equity, regardless of whether such enforceability shall be considered in a
proceeding in equity or at law; 

  
 6 

	 	(c)	 The execution, delivery and performance of this Amendment by the Borrower and the fulfillment of the terms
hereof do not conflict with, result in any breach of any of the terms and provisions of, or constitute (with or without notice or lapse of time) a default under, any indenture, agreement or other instrument to which the Borrower is a party or by
which it is bound; nor result in or require the creation or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement or other instrument; nor violate any law or, to the best of its knowledge, any
order, rule or regulation applicable to the Borrower of any Governmental Authority having jurisdiction over the Borrower or its properties; which breach, default, conflict, Lien or violation would have a Material Adverse Effect; and

  

	 	(d)	 The Credit Agreement, as amended pursuant hereto, remains in full force and effect, unamended, and is
enforceable against the Borrower in accordance with its terms, except as enforceability may be subject to or limited by bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors’ rights in general and
by general principles of equity, regardless of whether such enforceability shall be considered in a proceeding in equity or at law. 

Section 4 Reference to and Effect on the Credit Agreement. 

Upon this Amendment becoming effective, each reference in the Credit Agreement to “this Agreement” and each reference to the Credit
Agreement in the other Credit Documents and any and all other agreements, documents and instruments delivered by any of the Banks, the Administrative Agent, the Credit Parties or any other Person shall mean and be a reference to the Credit Agreement
as amended by this Amendment. Except as specifically amended by this Amendment, the Credit Agreement shall remain in full force and effect. 

Section 5 Costs and Expenses. 
 The
Borrower agrees to reimburse the Administrative Agent and the Banks for all reasonable fees, costs and expenses, including the reasonable fees, costs and expenses of counsel to the Administrative Agent, in connection with this Amendment and the
other documents executed in connection herewith. 
 Section 6 Effectiveness. 

This Amendment shall become effective upon the following conditions precedent being satisfied: 

 

	 	(a)	 duly executed signature pages for this Amendment signed by the Borrower and the Administrative Agent shall have
been delivered to the Administrative Agent; 

  

	 	(b)	 the Administrative Agent shall have received an Officer’s Certificate in form and substance satisfactory
to the Agent to the effect that since the date of the most recent audited financial statements furnished to the Banks pursuant to Section 9.1 of the Credit Agreement, there has occurred no material adverse change in the business, operations,
business prospects or financial condition of the Borrower and its Subsidiaries, taken as a whole; as of the date of said certificate, no Default has occurred or is continuing or will result from extending each of the Commitment

  
 7 

	 	
Termination Dates; and, as of the date of said certificate, the representations and warranties made by the Borrower in Section 8 of the Credit Agreement (excluding Section 8.4(b)) are
true and correct with the same force and effect as if made on and as of such date (unless stated to relate solely to an earlier date, in which case such representations and warranties shall be true and correct in all respects as of such earlier
date); and 

  

	 	(c)	 the Administrative Agent shall have received, for the benefit of the Banks, a commitment fee equal to 0.015% of
the Tranche A Commitments and 0.03% per annum (for a total of 0.06%) of the Tranche B Commitments. 

 Section 7 Governing Law.

 This Amendment shall be governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of
Canada applicable therein. 
 Section 8 Counterparts. 

This Amendment may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument and any
of the parties hereto may execute this Amendment by signing any such counterpart. Delivery of an executed counterpart of a signature page to this Amendment by telecopier or electronic transmission shall be effective as delivery of a manually
executed counterpart of this Amendment. 
 Section 9 Severability; Headings Descriptive. 

In case any provision in or obligation under this Amendment shall be invalid, illegal or unenforceable in any jurisdiction, the validity,
legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction shall not in any way be affected or impaired thereby. The headings of the several Sections and subsections of this
Amendment are inserted for convenience only and shall not in any way affect the meaning or construction of any provision of this Amendment. 

  
 8 

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

			
	HONDA CANADA FINANCE INC., as Borrower
		
	By:	 	 /s/ Yatendra Killer

		 	Name: Yatendra Killer
		 	Title:   Vice President
		
	By:	 	 /s/ Kei Yamada

		 	Name: Kei Yamada
		 	Title:   President

 Honda Ninth Amending Agreement – Signature Page 

 
			
	CANADIAN IMPERIAL BANK OF COMMERCE, as Administrative Agent
		
	By:	 	 /s/ Matthew Reis

		 	Name: Matthew Reis
		 	Title:   Executive Director
		
	By:	 	 /s/ Kezia Bruke

		 	Name: Kezia Burke
		 	Title:   Executive Director

 Honda Ninth Amending Agreement – Signature Page 

 
			
	CANADIAN IMPERIAL BANK OF COMMERCE, as a Bank
		
	By:	 	 /s/ Matthew Reis

		 	Name: Matthew Reis
		 	Title:   Executive Director
		
	By:	 	 /s/ Kezia Burke

		 	Name: Kezia Burke
		 	Title:   Executive Director

 Honda Ninth Amending Agreement – Signature Page 

 
			
	BANK OF MONTREAL, as a Bank
		
	By:	 	 /s/ Matthew Brink

		 	Name: Matthew Brink
		 	Title:    Director

 Honda Ninth Amending Agreement – Signature Page 

 
			
	ROYAL BANK OF CANADA, as a Bank
		
	By:	 	 /s/ Chris Cowan

		 	Name: Chris Cowan
		 	Title:    Authorized Signatory

 Honda Ninth Amending Agreement – Signature Page 

 
			
	THE TORONTO-DOMINION BANK, as a Bank
		
	By:	 	 /s/ Tyrone Nicolson

		 	Name: Tyrone Nicolson
		 	Title:   Manager – Corporate Lending Operations

 Honda Ninth Amending Agreement – Signature Page 

 
			
	MUFG BANK, LTD., CANADA BRANCH, as a Bank
		
	By:	 	 /s/ Kiyoshi Kukihara

		 	Name: Kiyoshi Kukihara
		 	Title:   Deputy Head of Canada Branch & Head of Japanese Corporate Banking Division (Canada)

 Honda Ninth Amending Agreement – Signature Page 

 
			
	MIZUHO BANK LTD., CANADA BRANCH, as a Bank
		
	By:	 	 /s/ Ryo Shimada

		 	Name: Ryo Shimada
		 	Title:   Managing Director, Canada

 Honda Ninth Amending Agreement – Signature Page 

 
			
	THE BANK OF NOVA SCOTIA, as a Bank
		
	By:	 	 /s/ Troy Washington

		 	Name: Troy Washington
		 	Title:   Director

 Honda Ninth Amending Agreement – Signature Page 

 
			
	NATIONAL BANK OF CANADA, as a Bank
		
	By:	 	 /s/ Julie Griffin

		 	Name: Julie Griffin
		 	Title: Managing Director
		
	By:	 	 /s/ David Torrey

		 	Name: David Torrey
		 	Title: Managing Director

 Honda Ninth Amending Agreement – Signature Page 

 
			
	SUMITOMO MITSUI BANKING CORPORATION, CANADA BRANCH, as a Bank
		
	By:	 	 /s/ Taichi Maeda

		 	Name: Taichi Maeda
		 	Title:   Executive Director

 Honda Ninth Amending Agreement – Signature Page

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