Delaware
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001-10308
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06-0918165
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(State or Other Jurisdiction of Incorporation)
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(Commission File Number)
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(IRS Employer Identification Number)
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6 Sylvan Way
Parsippany, NJ
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07054
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||||
(Address of Principal Executive Offices)
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(Zip Code)
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973-496-4700
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(Registrant’s telephone number, including area code)
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|||||
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N/A
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|||||
(Former name or former address, if changed since last report)
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o
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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o
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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o
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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o
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 1.01
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Entry into a Material Definitive Agreement.
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Item 9.01
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Financial Statements and Exhibits.
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Exhibit No.
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Description
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10.1
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Avis Budget Car Rental 2018 Model Year Program Letter dated August 29, 2017 between Avis Budget Car Rental, LLC and Ford Motor Company.*
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AVIS BUDGET GROUP, INC.
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By:
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/s/ Bryon L. Koepke
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Name:
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Bryon L. Koepke
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Title:
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Senior Vice President & Chief Securities Counsel
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North American Fleet, Lease
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& Remarketing Operations
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16800 Executive Plaza Dr.
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Regent Court Bldg., 6N-1A
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Dearborn, MI 48126
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Page
2
of 6
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18 ABCR/ Ford Program
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Page
3
of 6
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18 ABCR/ Ford Program
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•
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[
REDACTED
] [
REDACTED
]
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•
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[
REDACTED
] [
REDACTED
]
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•
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[
REDACTED
] [
REDACTED
]
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•
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[
REDACTED
]
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•
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[
REDACTED
]
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•
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[
REDACTED
] are set forth on
Attachment V
[
REDACTED
]
attached hereto and incorporated herein.
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•
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Any Ford vehicle tendered for sale/repurchase, and rejected for any reason, [
REDACTED
].
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•
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Vehicles must be ordered as GAV with order code 56 G or 56 Z.
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•
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[
REDACTED
], VINs must be submitted through Ford's fleet website after October 31, 2017.
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•
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[
REDACTED
] must be submitted prior to the vehicle exceeding the Maximum-Out-of-Service-Date (MOSD) +180 days.
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•
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[
REDACTED
] weekly - the week following submission.
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•
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[
REDACTED
] that are made in error can be reversed but will be charged [
REDACTED
] per annum interest from the claim date to the repayment date.
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•
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If Ford accepts a returned Ford vehicle, the vehicle will not be subject to future chargeback for undetected issues except for oil sludge and title issues.
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Page
5
of 6
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18 ABCR/ Ford Program
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Sincerely,
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/s/ Susan Kizoff
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Susan Kizoff, Rental Manager
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Ford Motor Company
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/s/ Mark LaNeve
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8/21/17
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Mark LaNeve, VP Marketing Sales and Service
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Date
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Agreed:
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Avis Budget Car Rental, LLC
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/s/ Mike Schmidt
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8/29/17
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Mike Schmidt, Senior Vice President- Fleet Services
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Date
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a/ The first [
REDACTED
] Mustang GAV (Coupe and Convertibles) returned in Q4 2019 will not be [
REDACTED
]. This will be preprogrammed and will not require a claim.
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b/ Cum Q4 production must be prioritized for production no later than M2 priority code
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[REDACTED]
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[REDACTED]
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[REDACTED]
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|||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||||||||||||
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||
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a/ Risk Vehicles ordered with 56K will be [
REDACTED
]
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Attachment III
|
|||||||||||
Ford Motor Company / Avis Budget Car Rental
|
|||||||||||
|
|||||||||||
2018 Program Year
|
|||||||||||
|
|||||||||||
Guaranteed Auction Value Program (GAV) a/
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|||||||||||
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|||||||||||
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[REDACTED]
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[REDACTED]
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[REDACTED]
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[REDACTED]
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[REDACTED]
|
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Months In Service MIS
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[REDACTED]
|
|||||||||
Days In Service DIS
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||||||||||
Mileage Cap All vehicles
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||||||||||
Mileage Cap Transit & Flex
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||||||||||
[
REDACTED
]
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||||||||||
Mileage Charge > cap
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||||||||||
Order Code
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||||||||||
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||||||||||
[
REDACTED
] by vehicle line DNE
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||||||||||
Fiesta
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||||||||||
Focus
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||||||||||
Fusion Hybrid
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||||||||||
Mustang Fastback
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||||||||||
Mustang Convertible
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||||||||||
Taurus
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|
||||||||||
Escape
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||||||||||
Edge
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||||||||||
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||||||||||
[
REDACTED
] by vehicle line DNE
|
|||||||||||
Explorer
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||||||||||
Expedition
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||||||||||
Transit Wagon
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||||||||||
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• 10 Speed Automatic Transmission (44U)
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• Spare Wheel and Tire (66W)
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• Spare Wheel and Tire (66W)
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EcoBoost Fastback Premium (P8T/201A)
– 75% Minimum
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• 2.3L EcoBoost Engine (99H)
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• 10 Speed Automatic Transmission (44U)
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• Spare Wheel and Tire (66W)
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750 of the 3000 Convertibles can be returned Q4, 2019 without a surcharge
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18MY Flex
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18MY Edge
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Requires mix of 50% SEL series and 50% Limited series.
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Requires minimum 40% mix of Titanium series.
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SEL FWD (K5C/202A) or AWD (K6C/202A) – 50%
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SEL FWD (K3J/201A) or AWD (K4J/201A)
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• Equipment Group 202A
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• Equipment Group 201A
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• Navigation 52N
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• 3.5L Ti-VCT V6 Engine (998/44J)
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• Roof Rack Side Rails (68B) – 50%
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• Roof Rack Side Rails (68B) – 50%
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Limited FWD (K5D/303A) or AWD (K6D/303A) – 50%
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Titanium FWD (K3K/300A) or AWD (K4K/300A) – 40% Min
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• Roof Rack Side Rails (68B) – 50%
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• 2.0L I-4 EcoBoost Engine (standard) (999/446)
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• Multipanel Vista Roof (43P) – 50%
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• Technology Package (51T)
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• Roof Rack Side Rails (68S) – 50%
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• Panoramic Vista Roof (43P) – 50%
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18MY Expedition
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18MY Explorer
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Requires Equipment Group 202A
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XLT FWD (K7D/202A) or AWD (K8D/202A)
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XLT 4x2 (U1H/202A or K1H/202A) or 4x4 (U1J/202A or K1J/202A)
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• Equipment Group 202A
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• Equipment Group 202A
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• Dual Panel Moonroof (439) – 50%
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• Voice-Activated Navigation System (59N)
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• Safe and Smart Package (65S)
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• Power Moonroof (43M) - 50%
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18MY Transit Wagon
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18MY F-150
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XLT Wagon (302A)
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Super Crew XLT 4x2 (W1C/302A) or 4x4 (W1E/302A) 75%
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• Equipment Group 302A
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Minimum 40% 15 Passenger (765) with 3.5L EcoBoost Engine (99G)
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• 4x2: 3.3L V6 PFDI Engine w/ 6-Speed Auto Trans (99B/446)
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Minimum 10% Sliding Passenger Side Cargo Door X2Y
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• 4x4: 3.5L EcoBoost Engine w/ 10-Speed Auto Trans (99G/44G)
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• Reverse Sensing System (43R)
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• Bed Liner - Spray-in (96W)
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• Privacy Tint (All Around) incl. Rear-Window Defogger (92E)
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• Trailer Tow Package (53A)
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• Running Board required:
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• Twin Panel Moonroof (43V) - 25%
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» Running Board (68H) - 33%
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» Extended Length Running Board (68J) - 33%
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Super Crew Lariat 4x2 (W1C/501A) or 4x4 (W1E/501A) 25%
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» Power Running Board (68L) - 33%
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• Equipment Group 501A
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• SYNC Package: 58Y, OR 584
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• 3.5L EcoBoost Engine w/ 10-Speed Auto Trans (99G/44G)
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• Styled aluminum alloy wheels (64S) (except U4X)
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• Lariat Chrome Appearance Package (86L)
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note seating option codes:
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• Bed Liner - Spray-in (96W)
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» 12 Passenger Seating (no option code required)
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• Trailer Tow Package (53A)
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» 15 Passenger Seating choose option code 765
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• Voice-Activated Navigation System (50N)
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» 10 Passenger Seating choose option code 761
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• Twin Panel Moonroof (43V) - 25%
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Not Available:
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• Vinyl Floor (16E)
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Attachment V
|
|||||||||
Ford Motor Company / Avis Budget Car Rental
|
|||||||||
2018 Program Year
|
|||||||||
[
REDACTED
] a/
|
|||||||||
|
Eligible Vehicles c/
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|
Amount
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Model
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Series
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Array
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[REDACTED]
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[REDACTED]
|
[REDACTED]
|
|||||
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|
||||||||
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|
||||||||
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|
||||||||
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|
||||||||
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|
||||||||
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||||||||
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|
||||||||
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|
||||||||
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|
||||||||
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|
||||||||
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|
||||||||
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|
||||||||
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|
||||||||
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|
||||||||
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|
||||||||
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|
||||||||
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|
||||||||
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|
||||||||
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|
||||||||
|
|
||||||||
|
|
||||||||
|
|
||||||||
|
|
||||||||
|
|
||||||||
|
|
||||||||
|
|
||||||||
|
|
||||||||
|
|
a/
|
[
REDACTED
]
|
|
[
REDACTED
] apply to 2018 MY in the 18 PY; 2019 MY vehicles are not included and will be addressed if required Offered on all Ford Vehicles ordered as GAV but not tendered for sale.
|
|
[
REDACTED
] total per vehicle line GAV volume and will be rejected once the [
REDACTED
] has been exceeded.
|
|
Any Ford vehicle tendered for sale/repurchase, and rejected for any reason, will be ineligible for a [
REDACTED
].
|
|
Vehicles must be ordered as GAV with order code 56 G or 56 Z.
|
|
To Claim [
REDACTED
], VINs must be submitted through Ford's fleet website after October 31, 2017.
|
|
Claims must be submitted prior to the vehicle exceeding the Maximum-Out-of-Service-Date (MOSD) +180 days.
|
|
Claims will be paid weekly - the week following submission.
|
|
Claims for [
REDACTED
] that are made in error can be reversed but may be charged 15% per annum interest from the claim date to the repayment date.
|
EXPLORER
|
|
[REDACTED]
|
||||||||||||
|
|
|||||||||||||
EXPEDITION
|
|
|||||||||||||
|
|
|||||||||||||
Fseries (F150-F250)
|
|
|||||||||||||
|
|
|||||||||||||
TRANSIT Wagon
|
|
|||||||||||||
|
|
|||||||||||||
CONTINENTAL
|
|
|||||||||||||
|
|
|||||||||||||
MKX
|
|
|||||||||||||
|
|
|||||||||||||
MKT
|
|
|||||||||||||
|
|
|||||||||||||
NAVIGATOR
|
|
|||||||||||||
|
|
|||||||||||||
|
|
|||||||||||||
Grand Total
|
|
|||||||||||||
|
|
|
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|
|
|
NOTES:
|
||||||||||||||
A/ Start Date for 2018 PY Vehicles
|
||||||||||||||
B/ Volume if any ordered prior to 7/1/17
|
||||||||||||||
C/ End Dates to be determined if different than 6/30/18
|
Attachment VII
|
|||||||||||||||||||
2018 Avis Budget Car Rental
|
|||||||||||||||||||
2017 CY Forecast
|
|||||||||||||||||||
|
|
Preliminary
|
|
|
October Delivery
|
November Delivery
|
December Delivery
|
Total
|
|
||||||||||
2018
|
|
December
|
|
|
October Production
|
November Production
|
December Production
|
Program
|
ABG
|
||||||||||
Job 1
|
Veh Line
|
Delivery
|
|
J2
|
J3
|
J4
|
K1
|
K2
|
K3
|
K4
|
L1
|
L2
|
L3
|
L4
|
L5
|
M1
|
M2
|
Volume
|
Total thru
|
|
|
Target
|
|
11-Sep
|
18-Sep
|
25-Sep
|
2-Oct
|
9-Oct
|
16-Oct
|
23-Oct
|
30-Oct
|
6-Nov
|
13-Nov
|
20-Nov
|
27-Nov
|
4-Dec
|
11-Dec
|
|
Dec
|
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|
|
12/11/17
|
Fiesta
|
[REDACTED]
|
|||||||||||||||||
|
|
||||||||||||||||||
10/9/17
|
Focus
|
||||||||||||||||||
|
|
||||||||||||||||||
8/7/2017
|
Fusion Hybrid
|
||||||||||||||||||
|
|
||||||||||||||||||
10/25/17
|
MSTG Coupe
|
||||||||||||||||||
|
|
||||||||||||||||||
10/25/17
|
MSTG Conv
|
||||||||||||||||||
|
|
||||||||||||||||||
10/16/17
|
Taurus
|
||||||||||||||||||
|
|
||||||||||||||||||
9/18/2017
|
Edge
|
||||||||||||||||||
|
|
||||||||||||||||||
6/19/17
|
Flex
|
||||||||||||||||||
|
|
||||||||||||||||||
8/28/17
|
Escape
|
||||||||||||||||||
|
|
||||||||||||||||||
10/16/17
|
Explorer
|
||||||||||||||||||
|
|
||||||||||||||||||
10/17/17
|
Expedition
|
||||||||||||||||||
|
|
||||||||||||||||||
8/14/17
|
F-Series
|
||||||||||||||||||
|
|
||||||||||||||||||
11/20/17
|
Transit 15 Pass
|
||||||||||||||||||
|
Transit 12 Pass
|