Document:

Exhibit

Exhibit 10.1

FIRST AMENDMENT 
FIRST AMENDMENT, dated as of August 19, 2015 (this “Amendment”), to the Amended and Restated Credit Agreement, dated as of November 14, 2014 (the “Credit Agreement”), among LEAR CORPORATION, a Delaware corporation (the “Borrower”), each FOREIGN SUBSIDIARY BORROWER, the several lenders from time to time parties thereto (the “Lenders”), the several agents parties thereto and JPMORGAN CHASE BANK, N.A., as administrative agent and collateral agent (the “Administrative Agent”).
W I T N E S S E T H:
WHEREAS, the Borrower has requested, and the Required Lenders and the Administrative Agent have agreed, upon the terms and subject to the conditions set forth herein, that the Credit Agreement shall be amended as set forth herein;
NOW, THEREFORE, the parties hereto hereby agree as follows:
SECTION 1.   Defined Terms.  Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Credit Agreement.  

SECTION 2.   Amendments.  Section 1.1 of the Credit Agreement is hereby amended by deleting the definition of “Change of Control” and substituting in lieu thereof the following:

“Change of Control”:  (a) the acquisition of ownership, directly or indirectly, beneficially or of record, by any Person or group (within the meaning of the Securities Exchange Act of 1934 and the rules of the SEC thereunder as in effect on the date hereof), of Capital Stock representing more than 35% of the aggregate ordinary voting power represented by the issued and outstanding Capital Stock of the Company; or (b) occupation of a majority of the seats (other than vacant seats) on the board of directors of the Company by Persons who were neither (i) nominated, or whose nomination or election was approved, by the board of directors of the Company nor (ii) appointed by directors so approved or nominated.
SECTION 3.   Conditions to Effectiveness.  This Amendment shall become effective on the date (the “Amendment Effective Date”) on which the Administrative Agent shall have received a counterpart of this Amendment, executed and delivered by a duly authorized officer of the Borrower, each Foreign Subsidiary Borrower and the Required Lenders.

SECTION 4.   Effect on the Loan Documents.  (a)  Except as specifically amended or waived herein, all Loan Documents shall continue to be in full force and effect and are hereby in all respects ratified and confirmed.  The Borrower hereby agrees, with respect to each Loan Document to which it is a party, that: (i) all of its obligations, liabilities and indebtedness under such Loan Document shall remain in full force and effect on a continuous basis after giving effect to this Amendment and (ii) all of the Liens and security interests created and arising under such Loan Document shall remain in full force and effect on a continuous basis, and the perfected status and priority of each such Lien and security interest continues in full force and effect on a continuous basis, unimpaired, uninterrupted and undischarged, after giving effect to this Amendment, as collateral security for its obligations, liabilities and indebtedness under the Credit Agreement.  

(b)    Except as specifically provided herein, the execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of any Lender or the Administrative Agent under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents.

(c)    The Borrower and the other parties hereto acknowledge and agree that this Amendment shall constitute a Loan Document.

Exhibit 10.1

SECTION 5.   Expenses.  The Borrower agrees to pay or reimburse the Administrative Agent for all of its reasonable out-of-pocket costs and expenses incurred in connection with this Amendment and any other documents prepared in connection herewith, including, without limitation, the reasonable fees and disbursements of counsel to the Administrative Agent.

SECTION 6.   Representations and Warranties.  The Borrower hereby represents and warrants that on the date hereof (a) each of the representations and warranties made by any Loan Party in or pursuant to the Loan Documents is true and correct in all material respects (provided that if any representation or warranty is by its terms qualified by materiality, such representation is true and correct in all respects) on and as of the Amendment Effective Date as if made on and as of the Amendment Effective Date, except to the extent that any such representation or warranty is stated to relate solely to an earlier date, in which case such representation or warranty is true and correct on and as of such earlier date and (b) after giving effect to this Amendment, no Default or Event of Default has occurred and is continuing.

SECTION 7.   FATCA.    For purposes of determining withholding Taxes imposed under FATCA, from and after the Amendment Effective Date, the Borrower and the Administrative Agent shall treat (and the Lenders hereby authorizes the Administrative Agent to treat) the Credit Agreement (together with any loans or other extensions of credit pursuant thereto) as not qualifying as a “grandfathered obligation” within the meaning of Treasury Regulations Section 1.1471-2(b)(2)(i).

SECTION 8.   GOVERNING LAW; WAIVER OF JURY TRIAL.  THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HERETO SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.  EACH PARTY HERETO HEREBY AGREES AS SET FORTH IN SUBSECTION 10.12 OF THE CREDIT AGREEMENT AS IF SUCH SECTION WERE SET FORTH IN FULL HEREIN.

SECTION 9.   Execution in Counterparts.  This Amendment may be executed by one or more of the parties to this Amendment on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument.

[Remainder of page intentionally left blank.]

Exhibit 10.1

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered by their respective proper and duly authorized officers as of the day and year first above written.
LEAR CORPORATION

By:/s/ Shari L. Burgess__________________________
     Name: Shari L. Burgess
     Title: Vice President, Treasurer, and CDO

LEAR FINANCIAL SERVICES (NETHERLANDS) B.V.

By: /s/ Susanne McIloch_________________________
     Name: Susanne McIloch
     Title: Director

Exhibit 10.1

JPMORGAN CHASE BANK, N.A., as Administrative Agent and as a Lender

By: /s/ Robert D. Bryant_________________________
     Name:  Robert D. Bryant
     Title:  Executive Director

Exhibit 10.1

BANK OF AMERICA, N.A., as a Lender

By: /s/ Brian Lukehart__________________________
     Name: Brian Lukehart
     Title: Director

The Bank of East Asia, Limited, New York Branch

By: /s/ Kitty Sin______________________________
     Name: Kitty Sin
     Title: SVP

By: /s/ Danny Leung___________________________
     Name: Danny Leung
     Title: SVP & COO

The Bank of Tokyo Mitsubishi UFJ, Ltd.

By: /s/ Thomas Danielson________________________
     Name:  Thomas Danielson
     Title: Authorized Signatory

BARCLAYS BANK PLC

By: /s/ Christopher R. Lee________________________
     Name: Christopher R. Lee
     Title: Vice President

Exhibit 10.1

BNP Paribas

By: /s/ Nader Tannous_________________________
     Name: Nader Tannous
     Title: Managing Director

By: /s/ Todd Grossnickle_________________________
     Name:  Todd Grossickle
     Title: Vice President

CITIBANK, N.A.

By: /s/ Sarah Terner____________________________
     Name: Sarah Terner
     Title:  Vice President

Citizens Bank, N.A.

By: /s/ Stephen A. Maenhout______________________
     Name:  Stephen A. Maenhout
     Title:  Senior Vice President

COMMERZBANK AG, NEW YORK BRANCH, as Lender

By: /s/ Patrick Hartweger_________________________
     Name: Patrick Hartweger
     Title: Managing Director

By: /s/ Nicole Finn______________________________
     Name: Nicole Finn
     Title: Vice President 

Exhibit 10.1

COMPASS BANK

By: /s/ Rajah Nambiar___________________________
     Name: Raj Nambiar
     Title: Vice President

DZ BANK AG
Deutsche Zentral-Genossenschaftsbank
New York Branch

By: /s/ Paul Fitzpatrick___________________________
     Name: Paul Fitzpatrick
     Title: Senior Vice President

By: /s/ Christopher Beyer_________________________
     Name:  Christopher Beyer
     Title: Assistant Vice President

Fifth Third

By: /s/ Yael Eisenberg___________________________
     Name: Yael Eisenberg
     Title: Assistant Vice President

FirstMerit Bank, N.A., as Lender

By: /s/ Jason W. Bierlein_________________________
     Name: Jason W. Bierlein
     Title: Senior Vice President

HSBC BANK USA, NATIONAL ASSOCIATION

By: /s/ Gregory R. Duval_________________________
     Name: Gregory R. Duval
     Title: Senior Vice President

Exhibit 10.1

THE HUNTINGTON NATIONAL BANK

By: /s/ Dan Swanson____________________________
     Name:  Dan Swanson
     Title: Assistant Vice President

LLOYDS BANK plc

By: /s/ Erin Donahy_____________________________
     Name: Erin Donahy
     Title:  Assistant Vice President
   Transaction Execution
   Category A
   D008

By: /s/ Daven Popet_____________________________
     Name: Daven Popet
     Title: Senior Vice President
  Transaction Execution
  Category A
  P003

The Northern Trust Company, as a Lender

By: /s/ Steven Ryan____________________________
     Name: Steven Ryan
     Title: Senior Vice President

PNC BANK, NATIONAL ASSOCIATION

By: /s/ Scott M. Kowalski________________________
     Name:  Scott M. Kowalski
     Title:  Senior Vice President

Exhibit 10.1

RB International Finance (USA) LLC

By: /s/ John A. Valiska__________________________
     Name:  John A. Valiska
     Title:  First Vice President

By: /s/ Astrid Wilke____________________________
     Name:  Astrid Wilke
     Title:  Group Vice President

ROYAL BANK OF CANADA, as a Lender

By: /s/ Edward D. Herko_________________________
     Name: Edward D. Herko
     Title: Authorized Signatory

Sumitomo Mitsui Banking Corporation

By: /s/ James D. Weinstein________________________
     Name: James D. Weinstein
     Title: Managing Director

U.S. BANK NATIONAL ASSOCIATION

By: /s/ Jeffrey S. Johnson_________________________
     Name:  Jeffrey S. Johnson
     Title: Senior Vice President

Exhibit 10.1

UniCredit Bank AG, New York Branch, as a Lender

By: /s/ Peter Daugarietis__________________________
     Name: Peter Daugarietis
     Title: Associate Director

By: /s/ Douglas Riahi___________________________
     Name:  Douglas Riahi
     Title:  Managing DirectorExhibit

Exhibit 10.1

SEPARATION AGREEMENT AND RELEASE 

This Separation Agreement and Release Agreement is dated October 19, 2015, and is between lululemon athletica, inc., a Delaware corporation (“lululemon”) and Tara Poseley, an individual (“Ms. Poseley”). 
A.    Ms. Poseley and lululemon entered into an Executive Employment Agreement dated October 15, 2013 (the “Employment Agreement”). 
B.     Ms. Poseley and lululemon have mutually determined that it is in the best interests of lululemon and Ms. Poseley for Ms. Poseley’s employment with lululemon to terminate effective as of the close of business on October 19, 2015 (the “Termination Date”) and for such termination to be treated as a termination of employment without Cause, as defined in section 1.01 of the Employment Agreement. Ms. Poseley and lululemon have also mutually determined that it is in the best interests of lululemon and Ms. Poseley for Ms. Poseley to provide transition consulting services to lululemon for the period beginning on the Termination Date and ending on the earlier of March 31, 2016 and the termination of the consulting services in accordance with paragraph 4 (such date, the “Separation Date”).   
C.     Section 5.03 of the Employment Agreement specified certain payments and benefits to be paid or provided to Ms. Poseley if her employment with lululemon was terminated by lululemon without Cause. This agreement is the full general release referenced in section 5.03(c)(iv) of the Employment Agreement. 
D.    The parties desire to settle all claims and issues that have, or could have, been raised, in relation to Ms. Poseley’s employment with lululemon and arising out of or in any way related to the acts, transactions or occurrences between Ms. Poseley and lululemon to date, including, but not limited to, her employment with lululemon or the termination of that employment, on the terms set forth below.
lululemon and Ms. Poseley therefore agree as follows:
1.     Ms. Poseley’s employment with lululemon will end on the Termination Date and her consulting services described in paragraph 4 will end on the Separation Date. Ms. Poseley shall use her best efforts to perform her employment responsibilities and fulfil her employment obligations until the Termination Date. Ms. Poseley must resign from any and all other positions that she holds with lululemon or any affiliated entity on the Termination Date and will sign any documentation that lululemon reasonably requests to confirm such resignations. Ms. Poseley and lululemon agree that the Non-Competition Period and the Non-Solicitation Period stated in article 4 of the Restrictive Covenant Agreement attached as Schedule A to the Employment Agreement will continue until 12 months after the Separation Date.
2.     lululemon shall pay or provide the payments and benefits to Ms. Poseley described in section 5.03 of the Employment Agreement upon the terms and conditions stated therein except that:
a) Notwithstanding section 5.03(1)(c) of the Employment Agreement, the Severance Payment described in such section shall be ten months of base salary (at the rate in effect on the Termination Date) and shall be paid in equal installments on lululemon’s normal paydays beginning on the first regular payday occurring after the Separation Date;
b) Notwithstanding section 5.03(1)(b) of the Employment Agreement, Ms. Poseley’s entitlement to any 2015 bonus compensation will be as described in paragraph 5 of this agreement; and 

c) Notwithstanding section 5.03(1) of the Employment Agreement, Ms. Poseley will be entitled to participate in all of lululemon’s benefit plans generally available to its senior executives until October 31, 2015, subject to the terms and conditions of such plans.
3.  In addition to the payments described in paragraph 2 of this agreement, for a period of twelve months after the Termination Date, lululemon shall reimburse Ms. Poseley for expenses incurred after the Termination Date to relocate from Vancouver, B.C., in an amount not to exceed US$50,000. Ms. Poseley must provide lululemon with appropriate statements and receipts verifying such expenses as requested by lululemon. Promptly after the Termination Date, lululemon shall pay Ms. Poseley a lump sum of US$15,000, less applicable withholdings or deductions required by law, for her use of outplacement services after the Termination Date, and an additional lump sum of US$15,000, less applicable withholdings or deductions required by law, for her use of the services of an accountant to assist with her tax filings in Canada and the USA. 
4.    Ms. Poseley shall provide transition consulting services (“Consulting Services”) to lululemon for the period beginning on the Termination Date and ending on the Separation Date (such period, the “Consulting Period”). Ms. Poseley shall provide Consulting Services at reasonable times as requested by lululemon’s chief executive officer. Subject to Ms. Poseley’s continued availability to perform Consulting Services and her use of commercially reasonable efforts to perform requested Consulting Services, lululemon shall pay Ms. Poseley payments during the Consulting Period equal to her base salary as of the Termination Date in accordance with lululemon’s usual payroll practices and dates (such payments, the “Consulting Fees”).  Ms. Poseley acknowledges that she is an independent contractor for all purposes at all times during the Consulting Period.  lululemon acknowledges that it does not retain a right to control the manner in which Ms. Poseley performs Consulting Services.  Ms. Poseley and lululemon agree that the Consulting Fees are not to be treated as employment income for tax purpose and, accordingly, for United States tax purposes will be treated as form 1099 income and are not to be reduced by tax-related deductions and withholdings.  Unless otherwise agreed by Ms. Poseley and lululemon, Ms. Poseley may perform Consulting Services at a location or locations of her choosing outside of lululemon’s offices.  Ms. Poseley is not to be prohibited from seeking or obtaining employment during the Consulting Period so long as she is not in violation of the terms of the Restrictive Covenant Agreement. Ms. Poseley may terminate the Consulting Services at any time by delivering lululemon a written notice of termination. lululemon may terminate the Consulting Services at any time by delivering Ms. Poseley a written notice of termination only if Ms. Poseley fails to comply with the terms of the Restrictive Covenant Agreement. Ms. Poseley acknowledges that compliance with all her obligations under the Restrictive Covenant Agreement is a material part of her Consulting Services and that, in addition to all other rights and remedies available to lululemon at law, she must repay lululemon all Consulting Fees if she violates the terms of the Restrictive Covenant Agreement.
5.      Ms. Poseley is to be deemed a “Consultant” under lululemon’s 2014 Equity Incentive Plan (the “Equity Plan”) during the Consulting Period and will be considered as providing service to lululemon during the Consulting Period for purposes of the Equity Plan and all applicable award agreements thereunder. Ms. Poseley’s fiscal 2015 bonus payout under lululemon’s Executive Bonus Plan (the “Bonus Plan”) is to be deemed earned as of the end of fiscal 2015 and Ms. Poseley will be eligible to receive such bonus payout according to the Bonus Plan if the Consulting Services have not been terminated in accordance with paragraph 4 before the end of fiscal 2015 to the same extent that Ms. Poseley would have been eligible to receive such bonus payout if she had remained an employee of lululemon through the date on which bonus payments are made to participants under the Bonus Plan.  Any applicable payment under the Bonus Plan will be paid at the same time other participants are paid under the Bonus Plan.              
6.      Ms. Poseley acknowledges and agrees that the above considerations constitute adequate legal consideration for the promises and representations made by Ms. Poseley in this agreement and are benefits to which Ms. Poseley is not otherwise entitled. 
7.     Ms. Poseley unconditionally, irrevocably and absolutely releases and discharges lululemon, and any parent and subsidiary corporations, divisions and affiliated corporations, partnerships or other affiliated entities of 

lululemon, past and present, as well as lululemon’s  officers, directors, agents, successors and assigns (collectively, the “Released Parties”), from all claims related to the transactions or occurrences between them to date, to the fullest extent permitted by law, including, but not limited to, Ms. Poseley’s employment with lululemon, the termination of Ms. Poseley’s employment, and all other losses, liabilities, claims, charges, demands and causes of action, known or unknown, suspected or unsuspected, arising directly or indirectly out of or connected with Ms. Poseley’s employment with lululemon. This release is intended to have the broadest possible application and includes, but is not limited to, any tort, contract, common law, constitutional or other statutory claims arising under local, provincial, state or federal law, including, but not limited to alleged violations of the British Columbia Employment Standards Act, the British Columbia Human Rights Code and (if applicable), and all claims for attorneys’ fees, costs and expenses. Ms. Poseley expressly waives her right to recovery of any type, including damages or reinstatement, in any administrative or court action, whether provincial, state or federal, and whether brought by Ms. Poseley or on her behalf, related in any way to the matters released herein. Ms. Poseley acknowledges that she may discover facts or law different from, or in addition to, the facts or law that she knows or believes to be true with respect to the claims released in this agreement and agrees, nonetheless, that this agreement and the release contained in it is and remains effective in all respects notwithstanding such different or additional facts or the discovery of them. Ms. Poseley declares and represents that she intends this agreement to be complete and not subject to any claim of mistake, and that the release herein expresses a full and complete release and she intends the release herein to be final and complete. Ms. Poseley executes this release with the full knowledge that this release covers all possible claims against the Released Parties, to the fullest extent permitted by law.
8.    Ms. Poseley shall comply with continuing covenants and obligations contained in the Restrictive Covenant Agreement and in any other agreement with lululemon previously signed by her.
9.      By entering into this agreement, the Released Parties make no admission that they have engaged, or are now engaging, in any unlawful conduct. 
10.    The parties understand and acknowledge that this agreement is not an admission of liability and shall not be used or construed as such in any legal or administrative proceeding.   Ms. Poseley is advised to consult with an attorney before executing this agreement. 
11.    Ms. Poseley acknowledges and agrees that (a) she has read and understands the terms of this agreement; (b) she has been advised in writing to consult with an attorney before executing this agreement; (c) she has obtained and considered such legal counsel as she deems necessary; and (d) by signing this agreement, she acknowledges that she does so freely, knowingly, and voluntarily. 
12.    In the event any provision of this agreement is found unenforceable, the unenforceable provision is to be deemed deleted and the validity and enforceability of the remaining provisions is not to be affected thereby. This agreement may be pled as a full and complete defense to, and may be used as a basis for an injunction against, any action, suit or other proceeding that may be prosecuted, instituted or attempted by Ms. Poseley in breach hereof. The validity, interpretation and performance of this agreement shall be construed and interpreted according to the laws of British Columbia and the laws of Canada applicable therein, and any action or proceeding arising out of or in connection with this agreement may be brought only in the courts of competent jurisdiction in the province of British Columbia. This agreement does not grant Ms. Poseley any rights with respect to continued employment by lululemon. This agreement is intended to be the entire agreement between the parties and supersedes and cancels all other and prior agreements, written or oral, between the parties regarding this subject matter, except that this agreement does not supersede, cancel or limit sections 4.03 (Policies, Rules and Regulations), 4.04 (Conflicts of Interest), 4.05 (Restrictive Covenants), 5.05 (Fair and Reasonable), 5.06 (Return of Property), 5.07 (No Termination Claims), 5.08 (Resignation as Director and Officer) or 5.09 (Provisions which Operate Following Termination) or article 6 (Miscellaneous) of the Employment Agreement; section 5.03 (Payments on Termination Without Cause, for Constructive Dismissal, or due to the Executive’s Disability) of the Employment Agreement, as modified and amended by paragraph 2; the Restrictive Covenant Agreement; the Plan and all applicable award agreements thereunder; the Bonus Plan or any other obligations specifically preserved under this agreement. This agreement 

may be amended only by a written instrument executed by all parties hereto. The parties may sign this agreement in several counterparts, each of which will be deemed an original but all of which together will constitute one instrument. 
The parties are signing this agreement on the date stated in the introductory clause.
	
		
	 
	lululemon athletica inc.

	 
	 

	 
	/s/ LAURENT POTDEVIN

	 
	Laurent Potdevin

	 
	Chief Executive Officer

	 
	 

	 
	/s/ TARA POSELEY

	 
	Tara Poseley

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