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Departure of Directors or Certain

On October6, 2015, AAR CORP. (the Company) amended the Severance and Change in Control Agreements it has with certain key employees, including Timothy J. Romenesko (Vice Chairman and Chief Operating Officer of Expeditionary Services), Robert J. Regan (Vice President, General Counsel and Secretary) and Michael J. Sharp (Vice President, Chief Financial Officer and Treasurer), to remove the single-trigger provision that outstanding stock options, restricted stock and other equity awards will vest immediately upon a change in control.

Under the amended agreements, an executives equity awards...