SEC Contract Filing

Filing Date: 2018-07-17

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d538403dex101.htm
<DESCRIPTION>EX-10.1
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<TITLE>EX-10.1</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">July&nbsp;11,2018 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>VIA EMAIL </U></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Juan Carlos Alvarez </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Chief Financial Officer </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Santander Consumer USA Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1601 Elm Street, Suite 800 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dallas, TX 75201 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Re: Tolling Agreement in respect of the Master Private Label Financing Agreement </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Juan Carlos: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">As you are aware, our teams
have been in discussion regarding SCUSA&#146;s performance under our Master Private Label Financing Agreement (as amended, the &#147;<U>MPLFA</U>&#148;), including in particular the parties rights and obligations under
<U>Section</U><U></U><U>&nbsp;4.13</U> of the MPLFA (the &#147;<U>Specified Matters</U>&#148;). While we continue to hope our ongoing discussions will yield a mutually beneficial path forward, which may include a possible exercise of our rights
under our Equity Option Agreement (as amended, the &#147;<U>Equity Option Agreement</U>&#148;), we remain unwilling to forego any of FCA US&#146;s rights under the MPLFA, and we understand that SCUSA is unwilling to forego any of its defenses under
the MPLFA. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Accordingly, in order to facilitate further discussions on a <FONT STYLE="white-space:nowrap">non-waiver</FONT> basis, you and
we hereby agree, effective June&nbsp;29, 2018 (the &#147;Effective Date&#148;), that each of us shall fully preserve and retain its respective rights, claims, and defenses as they existed on April&nbsp;30, 2018 with respect to (a)&nbsp;the Specified
Matters, including any rights we may have pursuant to <U>Section</U><U></U><U>&nbsp;6.05(a)(i)</U> of the MPFLA to terminate the limited exclusivity initially granted to SCUSA under Article VI of the MPLFA or to terminate the MPLFA pursuant to
<U>Section</U><U></U><U>&nbsp;10.01</U> of the MPLFA, and (b)&nbsp;any other event, circumstance or omission existing on or occurring on or prior to that date (collectively, the &#147;<U>Other Events</U>&#148;). Your and our positions with respect
to the Specified Matters and the Other Events shall not be affected or prejudiced (including by arguments of waiver, laches, or excuse) by the subsequent passage of time or continued pursuit of the business relationship established by the MPLFA or
Equity Option Agreement, including acceptance of any benefits thereunder. In so agreeing, neither you nor we, with respect to the Specified Matters or the Other Events, (a)&nbsp;concedes the validity of any claim or defense asserted by the other or
(b)&nbsp;shall be prejudiced in any manner in any legal proceeding, or be subject to any argument that it has elected any remedy or has waived any of its rights, or otherwise has been prejudiced respecting its claims or defenses, by virtue of
entering into this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In addition, you and we hereby agree that any applicable statute of limitations with regard to SCUSA&#146;s
alleged breach of any provision of the MPLFA will be tolled from the Effective Date until the Notice Date (the &#147;<U>Tolling Period</U>&#148;). With regard to all such alleged violations and failures to meet its obligations, to the extent SCUSA
raises a statute of limitations defense, FCA US and SCUSA hereby expressly agree that the Tolling Period shall be excluded for purposes of calculating the statute of limitations or delay period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In the event you or we deliver a written notice to the other on or after December&nbsp;31, 2018, in accordance with Section&nbsp;14.02 of the
MPLFA, the Tolling Period shall terminate effective as of the 31<SUP STYLE="font-size:85%; vertical-align:top">st</SUP> date (the &#147;<U>Notice Date&#148;</U>) following actual receipt of such notice by such other party. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Further, you and we agree that, until the 31st date following the Notice Date, neither of us
will, directly or indirectly, initiate any litigation, action or complaint or other legal proceeding or invoke the dispute resolution provisions in Section&nbsp;14.09 of the MPLFA relating to any of their rights, claims or defenses based on
circumstances or omissions existing on or occurring prior to April&nbsp;30, 2018, related to the Specified Ma