Trimble Inc 8-K/A, filed Sep 29, 2023

About this 8-K/A

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Trimble Inc. (TRMB)

8-K/A 2023-09-29 For: 2023-09-28

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Added on April 11, 2026

Trimble Inc filed this 8-K/A on September 29, 2023, reporting on events of September 28, 2023.

TRIMBLE INC.

a Delaware corporation

Date: September 28, 2023

/s/ David G. Barnes

David G. Barnes
Chief Financial Officer

Item 9.01: Financial statements and exhibits

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Delaware	001-14845	94-2802192
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer I.D. No.)


Exhibit No.		Description

10.1		Sale and Contribution Agreement, dated as of September 28, 2023, by and among Trimble Inc., AGCO Corporation and Trimble Solutions, LLC.

104		The cover page from this Report on Form 8-K/A, formatted in Inline XBRL.


		Page
	Article I

	DEFINITIONS; INTERPRETATION

1.1	Defined Terms		9
1.2	Definitions		31

	Article II

	THE TRANSACTIONS

2.1	Carve-Out Restructuring		35
2.2	Business Assets; Excluded Assets, Assumed Liabilities and Excluded Liabilities Generally		35
2.3	Non-Assignable Assets		39
2.4	The Common Units Purchase and the JCA Contribution		40
2.5	Closing Deliverables		41
2.6	Closing		42
2.7	Purchase Price Adjustment		43
2.8	Withholding		48

	Article III

	REPRESENTATIONS AND WARRANTIES OF TRIMBLE TO AGCO AND THE COMPANY

3.1	Organization and Qualification		49
3.2	Capitalization of the Transferred Subsidiaries		49
3.3	Authority Relative to this Agreement		50
3.4	Consents and Approvals; No Violations		50
3.5	Financial Information; Absence of Undisclosed Liabilities		51
3.6	Absence of Certain Changes or Events		52
3.7	Litigation		52
3.8	Compliance with Laws		53
3.9	Anti-Corruption		53
3.10	Trade Compliance		53
3.11	Permits		54
3.12	Employee Benefits		54
3.13	Labor and Employment Matters		56
3.14	Real Property		58
3.15	Environmental Matters		59
3.16	Taxes		59
3.17	Business Material Contracts		61


3.18	Intellectual Property	64
3.19	Sufficiency of Assets	66
3.20	Title to Assets, Properties and Rights	66
3.21	Customers and Suppliers	66
3.22	Insurance	67
3.23	Product Liability; Product Warranty; Recalls	67
3.24	No Other Representations or Warranties	68

	Article IV

	REPRESENTATIONS AND WARRANTIES OF AGCO TO THE COMPANY

4.1	Organization and Qualification	68
4.2	Capitalization of the JCA Entities	68
4.3	Authority Relative to this Agreement	69
4.4	Consents and Approvals; No Violations	69
4.5	Financial Information; Absence of Undisclosed Liabilities	70
4.6	Absence of Certain Changes or Events	70
4.7	Litigation	70
4.8	Compliance with Laws	70
4.9	Anti-Corruption	71
4.10	Trade Compliance	71
4.11	Permits	71
4.12	Employee Benefits	72
4.13	Labor and Employment Matters	73
4.14	Real Property	75
4.15	Environmental Matters	75
4.16	Taxes	76
4.17	JCA Material Contracts	78
4.18	Intellectual Property	79
4.19	Sufficiency of Assets	81
4.20	Customers, Suppliers and Partners	81
4.21	Insurance	81
4.22	No Other Representations or Warranties	82

	Article V

	REPRESENTATIONS AND WARRANTIES OF AGCO TO TRIMBLE

5.1	Organization and Qualification	82
5.2	Authority Relative to this Agreement	82
5.3	Consents and Approvals; No Violations	83
5.4	Litigation	83
5.5	Brokers	83
5.6	Financial Capability	83
5.7	Acquisition of AGCO Interests for Investment	84
5.8	No Other Representations or Warranties	85


	Article VI

	REPRESENTATIONS AND WARRANTIES OF TRIMBLE TO AGCO

6.1	Organization and Qualification	85
6.2	Capitalization of the Company	85
6.3	Authority Relative to this Agreement	86
6.4	Consents and Approvals; No Violations	87
6.5	Litigation	87
6.6	Brokers	87
6.7	No Other Representations or Warranties	87

	Article VII

	ADDITIONAL AGREEMENTS

7.1	Access to Books and Records	88
7.2	Transaction Expenses	91
7.3	Confidentiality	91
7.4	Efforts	93
7.5	Conduct of Business	96
7.6	Conduct of the JCA Entities	100
7.7	Public Announcements	103
7.8	Termination of Intercompany Contracts; Settlement of Intercompany Accounts	103
7.9	Insurance	104
7.10	Recordation of Transferred IP	105
7.11	Data Processing Matters	105
7.12	Misallocated Assets and Liabilities	105
7.13	Notification of Certain Matters	106
7.14	Exclusivity	106
7.15	Financing	107
7.16	Excluded French Business	111
7.17	Financial Information	114
7.18	Cooperation	114
7.19	Correction Services Agreement	114
7.20	Non-Solicitation	115
7.21	Covered Contracts	115
7.22	Commingled Books and Records	116
7.23	Stand Up Costs; Pre-Closing Matters	116
7.24	Specified Entity Put Option	117

	Article VIII

	EMPLOYEE MATTERS COVENANTS

8.1	Employee Matters	117


	Article IX

	TAX MATTERS

9.1	Straddle Periods	124
9.2	Tax Returns	124
9.3	Certain Tax Refunds	125
9.4	Tax Proceedings	126
9.5	Cooperation and Exchange of Information	127
9.6	Tax Sharing Agreements	127
9.7	Transfer Taxes	128
9.8	Tax Indemnification	128
9.9	Tax Dispute Resolution	129
9.10	Tax Treatment Matters	129
9.11	Section 245A Election	130

	Article X

	CONDITIONS TO OBLIGATIONS TO CLOSE

10.1	Conditions to Obligation of Each Party to Close	130
10.2	Conditions to AGCO’s Obligation to Close	130
10.3	Conditions to Trimble’s Obligation to Close	132

	Article XI

	TERMINATION

11.1	Termination	133
11.2	Effect of Termination	134
11.3	Extension; Waiver	136

	Article XII

	INDEMNIFICATION

12.1	Survival of Covenants and Agreements	136
12.2	Indemnification	137
12.3	Calculation of Losses	140
12.4	Indemnification Procedures	141
12.5	Exclusive Remedy	142
12.6	Mitigation of Losses	143
12.7	Tax Treatment	143


	Article XIII

	GENERAL PROVISIONS

13.1	Interpretation; Absence of Presumption	143
13.2	Headings; Definitions	144
13.3	Governing Law; Jurisdiction and Forum	144
13.4	Entire Agreement	145
13.5	No Third Party Beneficiaries	145
13.6	Expenses	145
13.7	Notices	145
13.8	Successors and Assigns	147
13.9	Amendments and Waivers	147
13.10	Severability	147
13.11	Specific Performance	147
13.12	Bulk Sale Laws	148
13.13	No Admission	148
13.14	Further Assurances	148
13.15	Counterparts	148
13.16	Financing Sources	148


Exhibit A:		Master Steps Plan
Exhibit B:		Company LLC Operating Agreement
Exhibit C:		Supply Agreement
Exhibit D:		Technology Agreement
Exhibit E:		Trademark Agreement
Exhibit F:		Transition Services Agreement
Exhibit G:		Form of Working Capital Statement
Exhibit H:		Correction Services Agreement Term Sheet


Schedule 1.1-BE		Business Employees
Schedule 1.1-KB		Knowledge of AGCO
Schedule 1.1-KS		Knowledge of Trimble
Schedule 1.1-MC		Material Customers
Schedule 1.1-MS		Material Suppliers
Schedule 1.1-SR		Special Retention Agreements
Schedule 2.2(a)(i)		Transferred Subsidiaries
Schedule 2.2(a)(ii)		Equity Interests of Dealers
Schedule 2.2(a)(iv)		Accounts Receivable
Schedule 2.2(a)(v)		Contracts Related to the Business
Schedule 2.2(a)(vi)		Business Owned Real Property
Schedule 2.2(a)(vii)		Business Real Property Leases
Schedule 2.2(a)(xv)		Other Business Assets


Schedule 2.2(a)(xvii)		Business Permits
Schedule 2.2(a)(xx)		Business Assets
Schedule 2.2(b)(i)		Certain Excluded Equity Interests
Schedule 2.2(b)(vii)		Certain Excluded Contracts
Schedule 2.2(b)(xi)		Excluded Assets
Schedule 2.2(d)(ii)		Excluded Liabilities
Schedule 3.16(r)		US Federal Income Tax Status
Schedule 7.4(d)(i)(B)		Antitrust Laws
Schedule 7.24		Specified Entity Put Option
Schedule 9.10(b)		Purchase Price Allocation Principles


Acquired Rights Directive			32
Acquisition Proposal			114
Action			9
Affiliate			9
Agreement			8, 10
Agriculture			10
Alternative Financing			116
AGCO			8, 10


AGCO Combined Tax Return			10
AGCO Deductible			145
AGCO Disclosure Schedule			74
AGCO Equity			74
AGCO Group			10
AGCO Indemnified Parties			144
AGCO Insurance Policies			88
AGCO Payment			44


AGCO Tax Contest			133
Ancillary Agreements			11
Anti-Corruption Laws			11
Antitrust Law			11
Assumed Liabilities			42
Audited Financial Statements			121
Automatic Transferred Employee			125
Available Financing			115
Beneficial Ownership Certification			11
Beneficial Ownership Regulation			11
Business			11
Business Assets			37
Business Day			12
Business Employee			12
Business Employee Representative Body			61
Business Financial Statements			55
Business Inbound Licenses			12
Business Information Systems			70
Business IP Rights			12
Business Labor Agreements			61
Business Leased Real Property			63
Business Material Adverse Effect			12
Business Material Contracts			66
Business Owned Real Property			38
Business Permits			58
Business Real Property			63
Business Real Property Leases			38
Business Shared Contracts			13
CARES Act			13
Carve-out Restructuring			13
Carve-Out Transfer Taxes			13
Cash			13
Census Update Time			124
Claim Amount			149
Claim Notice			149
Closing			46
Closing Date			47
Closing Working Capital Statement			49
Code			14
Commitment Letter			90
Committed Financing			90
Committed Financing Sources			115
Common Units			8, 14
Common Units Purchase			8, 14
Company			8, 14
Company Closing Cash			14


Company Closing Indebtedness			14
Company Closing Transaction Expenses			14
Company Closing Working Capital			14
Company Employer			125
Company Entity			14
Company Group			15
Company LLC Operating Agreement			15
Company Software			15
Company Target Working Capital			15
Compliant			15
Confidential Information			15
Confidentiality Agreement			15
Consultation Finalization			119
Continuation Period			127
Contract			16
control			16
controlled			9
controlled by			16
controlled corporation			65, 83
controlling			9
Copyrights			20
Disclosing Party			98
Disputed Amounts			51
Effective Time			16
Employee			16
Employee Plans			16
Employing Subsidiary			17
Environmental Claim			17
Environmental Law			17
ERISA			17
ERISA Affiliate			17
Exchange Act			17
Excluded Assets			40
Excluded Contracts			41
Excluded Employees			17
Excluded French Assets			119
Excluded French Business			119
Excluded French Employees			119
Excluded Information			17
Excluded Liabilities			43
Expiry Date			119
FDI Laws			18
Fee Letter			90
Financing Sources			18
Fraud			18
French Closing			120


TRIMBLE INC.

By:		/s/ Robert G. Painter
		Name: Robert G. Painter
		Title: President, Chief Executive Officer

TRIMBLE SOLUTIONS, LLC

By:		/s/ James Kirkland
		Name: James Kirkland
		Title: President


AGCO CORPORATION

By:		/s/ Roger Batkin
		Name: Roger Batkin
		Title: Senior Vice President, General Counsel


French Put Option Letter			Recitals
French Put Option NWC Changes			120
Fundamental AGCO Representations			19
Fundamental Trimble Representations			19
GAAP			19
Global Trade Laws			19
Governmental Antitrust Entity			101
Governmental Entity			19
HSR Act			11
Immigration Rights			19
Indebtedness			19
Indemnification Claim			149
Indemnified Party			149
Indemnifying Party			149
Independent Accountant			51
Intellectual Property Rights			20
Interim Post-Signing Financial Statements			121
JCA			9, 20
JCA Business			20
JCA Closing Cash			20
JCA Closing Indebtedness			21
JCA Closing Transaction Expenses			21
JCA Closing Working Capital			21
JCA Contribution			9, 21
JCA Data			21
JCA Employee			21
JCA Entities			21
JCA Financial Statements			76
JCA Information Systems			87
JCA IP			21
JCA Labor Agreements			80
JCA Leased Real Property			81
JCA Material Adverse Effect			21
JCA Material Contracts			84
JCA Patents			22
JCA Permits			77
JCA Real Property Leases			81
JCA Target Working Capital			22
JCA Transfer Taxes			22
Knowledge of AGCO			22
Knowledge of Trimble			22
Law			22
Liability			22
Licensed IP			22
Liens			23


Local Transfer Date			120
Losses			23
Manufacturing Contracts			23
Marketing Period			23
Marks			24
Master Steps Plan			25
Material Business Customers			72
Material Business Suppliers			72
Material JCA Customers			88
Material JCA Suppliers			88
Materials of Environmental Concern			25
Net Working Capital			25
Non-Solicitation Period			25
OFAC			25
Offered Employees			126
Off-the-Shelf Software			25
Order			26
Outside Counsel Only			100
Parties			8, 26
Party			8, 26
Patents			26
Permanent Financing			115
Permits			26
Permitted Financing Terms			114
Permitted Liens			26
Person			27
Personal Data			27
Post-Closing Adjustment			49
Post-Closing Date Period			27
Pre-Closing Date AGCO Separate Tax Return			131
Pre-Closing Date Period			27
Pre-Closing Date Trimble Separate Tax Return			131
Pre-Closing Occurrence Claims			111
Privacy Obligations			27
Process			27
Processing			27
Put Option Price			120
Recall			73
Receiving Party			98
Recipients			98
Regulatory Approvals			27
Related to the Business			27
Representatives			27
Required Amount			90


Required Information			28
Resolution Period			51
Restricted Country			28
Restricted Party			28
Restricted Party List			28
Retained Subsidiaries			28
Reverse Termination Fee			142
Review Period			50
Sanctions			28
Secondment Employee			126
Securities Act			29
Security Incident			29
Service Condition			62
Software			29
Special Retention Agreements			29
Statement of Objections			50
Straddle Period			29
Straddle Period Separate Tax Return			132
Subsidiary			29
Supply Agreement			30
Systems			30
Tax			30
Tax Authority			30
Tax Expert			135
Tax Proceeding			30
Tax Return			30
Technology			30
Technology Agreement			30
Third Party Claim			149
Trimble			8, 30
Trimble Combined Tax Return			30


Trimble Deductible			146
Trimble Disclosure Schedule			53
Trimble Equity			53
Trimble Group			31
Trimble Indemnified Parties			146
Trimble Insurance Policies			72
Trimble Tax Contest			133
Trade Secrets			20
Trademark Agreement			31
Transaction Expenses			31
Transaction Information			31
Transfer Regulations			31
Transfer Tax			32
Transferred Contracts			32
Transferred Data			32
Transferred Employees			126
Transferred Employing Subsidiary			32
Transferred Employing Subsidiary Employee			125
Transferred Employing Subsidiary Plan			60
Transferred IP			32
Transferred Subsidiaries			38
Transferred Technology			32
Transition Services Agreement			32
Trojan ho			87
Trojan horse			70
U.S.			33
under common control with			16
United States			33
WARN Act			33, 129
Willful and Intentional Breach			33