Exhibit 10.1

Execution Version

FOURTH AMENDMENT TO AMENDED AND RESTATED

REVOLVING CREDIT AND TERM LOAN AGREEMENT

THIS FOURTH AMENDMENT TO AMENDED AND RESTATED REVOLVING CREDIT AND TERM LOAN
AGREEMENT (this “Amendment”), is made and entered into as of March 14, 2014, by
and among BRISTOW GROUP INC., a Delaware corporation (the “Borrower”), the
Lenders party hereto and SUNTRUST BANK, in its capacity as Administrative Agent
for the Lenders (the “Administrative Agent”).

W I T N E S S E T H:

WHEREAS, the Borrower, the Lenders and the Administrative Agent are parties to a
certain Amended and Restated Revolving Credit and Term Loan Agreement, dated as
of November 22, 2010 (as amended by that certain First Amendment to Amended and
Restated Revolving Credit and Term Loan Agreement, dated as of December 22,
2011, as further amended by that certain Second Amendment to Amended and
Restated Revolving Credit and Term Loan Agreement, dated as of October 1, 2012,
as further amended by that certain Third Amendment to Amended and Restated
Revolving Credit and Term Loan Agreement, dated as of April 29, 2013, and as
further amended, restated, supplemented or otherwise modified from time to time,
the “Credit Agreement”; capitalized terms used herein and not otherwise defined
shall have the meanings assigned to such terms in the Credit Agreement),
pursuant to which the Lenders have made certain financial accommodations
available to the Borrower;

WHEREAS, the Borrower has proposed to (i) extend the Revolving Commitment
Termination Date and the Maturity Date to April 29, 2019 and (ii) amend certain
other provisions of the Credit Agreement, and subject to the terms and
conditions hereof, the Lenders are willing to do so as hereinafter set forth;
and

WHEREAS, the Borrower has requested that Bank of America, N.A., SunTrust Bank
and Credit Suisse AG, Cayman Islands Branch (each an “Assignor” and
collectively, the “Assignors”) assign a portion of their respective Revolving
Commitments and Revolving Loans (but not a proportionate share of their
respective Term Loans) which are outstanding on the Fourth Amendment Effective
Date (as defined herein) to Trustmark National Bank (the “Assignee”), and
notwithstanding the provisions of Section 10.4(b)(ii) of the Credit Agreement to
the contrary, the Borrower and Lenders desire to consent to such assignment of
Revolving Commitments without a corresponding proportionate assignment by the
Assignors of any of their respective portions of the Term Loan.

NOW, THEREFORE, for good and valuable consideration, the sufficiency and receipt
of all of which are acknowledged, the parties hereto agree as follows:

1. Defined Terms. Capitalized terms used herein and not otherwise defined shall
have the meanings assigned to such terms in the Credit Agreement.

--------------------------------------------------------------------------------

2. Amendments to the Credit Agreement.

(a) Section 1.1 of the Credit Agreement is hereby amended by replacing the
definitions of “Loan Documents”, “Maturity Date” and “Revolving Commitment
Termination Date” in their entirety with the following definitions:

“Loan Documents” shall mean, collectively, this Agreement, the Notes (if any),
the LC Documents, the Fee Letter, the Commitment Increase Fee Letter, the Fourth
Amendment Fee Letter, the Subsidiary Guaranty Agreement, the Security Documents,
all Notices of Borrowing, all Notices of Conversion/Continuation, all Compliance
Certificates, all landlord waivers and consents, bailee agreements and any and
all other instruments, and agreements, executed in connection with any of the
foregoing.

“Maturity Date” shall mean, with respect to the Term Loans, the earlier of
(i) April 29, 2019 and (ii) the date on which the principal amount of all
outstanding Term Loans have been declared or automatically have become due and
payable (whether by acceleration or otherwise).

“Revolving Commitment Termination Date” shall mean the earliest of (i) April 29,
2019, (ii) the date on which the Revolving Commitments are terminated pursuant
to Section 2.8 and (iii) the date on which all amounts outstanding under this
Agreement have been declared or have automatically become due and payable
(whether by acceleration or otherwise).

(b) Section 1.1 of the Credit Agreement is hereby amended by adding the
following definitions to such section in the appropriate alphabetical order:

“Fourth Amendment Fee Letter” shall mean that certain Fee Letter, dated as of
February 28, 2014, among the Administrative Agent, SunTrust Robinson Humphrey,
Inc. and the Borrower.

“Fourth Amendment Effective Date” shall mean March 14, 2014.

(c) Section 2.9 of the Credit Agreement is hereby amended by replacing clause
(b) of such Section in its entirety with the following:

(b) The Borrower unconditionally promises to pay to the Administrative Agent,
for the account of each Lender that has advanced Term Loans, the then unpaid
aggregate principal amount of the Term Loans on the last day of each fiscal
quarter occurring during the period from June 30, 2014 through March 31, 2019,
in the amounts set forth on Schedule 2.9 (and on such other date(s) and in such
other amounts as may be required from time to time pursuant to this Agreement);
provided that, to the extent not previously paid, the aggregate unpaid principal
balance of the Term Loans shall be due and payable on the Maturity Date.

(d) Section 7.4 of the Credit Agreement is hereby amended by replacing clause
(f) of such Section in its entirety with the following:

(f) Investments set forth on Schedule 7.4 and existing on the Fourth Amendment
Effective Date in an aggregate amount equal to the amount outstanding on the
Fourth Amendment Effective Date as shown on such Schedule 7.4; and

--------------------------------------------------------------------------------

(e) Section 7.5 of the Credit Agreement is hereby amended by replacing clause
(v) thereof in its entirety with the following:

(v) so long as no Event of Default has occurred and is continuing or would
result therefrom, dividends paid in cash or other property in respect of Capital
Stock and other purchases, redemptions, retirements, defeasances or other
acquisitions of, any shares of Capital Stock for cash or other property

(f) Section 7.6 of the Credit Agreement is hereby amended by replacing such
Section in its entirety with the following:

Section 7.6 Sale of Assets. The Borrower will not, and will not permit any of
its Subsidiaries to (i) convey, sell, lease, assign, transfer or otherwise
dispose of, any of the Borrower’s assets or property, whether now owned or
hereafter acquired, to any Person other than, so long as no Default or Event of
Default has occurred and is continuing or would result therefrom, a Wholly Owned
Subsidiary, (ii) in the case of any Subsidiary that is a Wholly Owned
Subsidiary, convey, sell, lease, assign, transfer or otherwise dispose of, any
of its assets or property, whether now owned or hereafter acquired, to any
Person other than, so long as no Default or Event of Default has occurred and is
continuing or would result therefrom, the Borrower or any Wholly Owned
Subsidiary, (iii) in the case of any Subsidiary that is not a Wholly Owned
Subsidiary, convey, sell, lease, assign, transfer or otherwise dispose of, any
of its assets or property, whether now owned or hereafter acquired, to any
Person other than the Borrower or any Subsidiary of the Borrower or (iv) in the
case of any Subsidiary, issue or sell any shares of such Subsidiary’s common
stock to any Person other than the Borrower or any of the Borrower’s
Subsidiaries (or to qualify directors if required by applicable law), in each
case of clauses (i) through (iv), other than (a) sale-lease back transactions
permitted by this Agreement, (b) Designated Asset Sales, (c) sales, leases and
charters of inventory, equipment or other assets in the ordinary course of
business and (d) sales, dispositions and other transactions permitted pursuant
to Sections 7.3, 7.4 and 7.5 above.

(g) Section 7.7 of the Credit Agreement is hereby amended as follows:

(i) to delete the word “and” before clause (c) and add a comma after the phrase
“any other Affiliates” in clause (b); and

(ii) to add the following clause (d) to the end of such Section:

and (d) Investments permitted by Section 7.4, so long as any Investment by the
Borrower or a Wholly Owned Subsidiary in a Subsidiary that is not a Wholly Owned
Subsidiary is made on terms and conditions that, taken as a whole, are not less
favorable to the Borrower or such affected Wholly Owned Subsidiary than could be
obtained on an arm’s-length basis from unrelated third parties.

(h) Schedule II to the Credit Agreement is hereby amended by replacing such
Schedule in its entirety with Schedule II set forth on Exhibit A attached
hereto.

(i) Schedule 2.9 to the Credit Agreement is hereby amended by replacing such
Schedule in its entirety with the Schedule 2.9 set forth on Exhibit B attached
hereto.

--------------------------------------------------------------------------------

(j) Schedule 7.4 to the Credit Agreement is hereby amended by replacing such
Schedule in its entirety with the Schedule 7.4 set forth on Exhibit C attached
hereto.

3. Conditions to Effectiveness of this Amendment. It is understood and agreed
that this Amendment shall become effective on the date (the “Effective Date”)
when the Administrative Agent shall have received (i) such fees as the Borrower
has previously agreed to pay on or prior to the date that this Amendment becomes
effective to the Administrative Agent or any of its affiliates in connection
with this Amendment, including without limitation the fees payable pursuant to
the Fourth Amendment Fee Letter (including without limitation fees payable
thereunder to the Administrative Agent for the account of each Lender that
executes this Amendment), (ii) reimbursement or payment of its reasonable
out-of-pocket costs and expenses incurred in connection with this Amendment or
the Credit Agreement (including reasonable fees, charges and disbursements of
King & Spalding LLP, counsel to the Administrative Agent) for which invoices
(including estimated expenses) have been presented to the Borrower at least two
(2) days before the Effective Date unless otherwise agreed by the Borrower and
the Administrative Agent, and (iii) each of the following documents:

(a) executed counterparts to this Amendment from the Borrower and each Lender;

(b) an instrument, executed by each Loan Party, pursuant to which such Loan
Party reaffirms its obligations under the Security Agreement, the Subsidiary
Guaranty Agreement and the Pledge Agreement;

(c) a certificate of the Secretary or Assistant Secretary of the Borrower,
attaching and certifying copies of its bylaws and of the resolutions of its
board of directors, authorizing the execution, delivery and performance of this
Amendment, and certifying the name, title and true signature of each officer of
the Borrower executing the Amendment on behalf of the Borrower;

(d) a certified copy of the certificate of incorporation of the Borrower,
together with certificates of good standing or existence, as may be available
from the Secretary of State of the jurisdiction of organization of the Borrower
and each other jurisdiction where the Borrower is required to be qualified to do
business as a foreign corporation where the failure to be so qualified could
reasonably be expected to have a Material Adverse Effect;

(e) a certificate, dated the Fourth Amendment Effective Date and signed by a
Responsible Officer, certifying that (x) no Default or Event of Default exists,
(y) all representations and warranties of each Loan Party set forth in the Loan
Documents are true and correct in all material respects, except to the extent
that such representations and warranties specifically refer to an earlier date
and (z) since March 31, 2013, there shall have been no change which has had or
could reasonably be expected to have a Material Adverse Effect;

(f) a favorable written opinion of Baker Botts L.L.P., counsel to the Borrower,
addressed to the Administrative Agent and each of the Lenders, and covering such
matters relating to the Borrower, the Amendment and the transactions
contemplated therein as the Administrative Agent or the Required Lenders shall
reasonably request;

(g) certified copies of all consents, approvals, authorizations, registrations
and filings and orders required or advisable to be made or obtained under any
Requirement of Law, or by any Contractual Obligation of each Loan Party, in
connection with the execution, delivery, performance, validity and
enforceability of this Amendment or any of the transactions contemplated
thereby, and such consents, approvals, authorizations, registrations, filings
and orders shall be in full force and effect and all applicable waiting periods
shall have expired, and no investigation or inquiry by any governmental
authority regarding the Amendment shall be ongoing; and

--------------------------------------------------------------------------------

(h) an Assignment and Assumption with respect to each Assignor, duly executed
and delivered by the applicable Assignor, Assignee, Administrative Agent,
Issuing Bank and Borrower.

4. Consent. Notwithstanding anything to the contrary contained in
Section 10.4(b)(ii) of the Credit Agreement, each of the parties hereto hereby
(a) consents to the assignment by each Assignor of $500,000 of such Assignor’s
Revolving Commitment and Revolving Loans to Assignee (such that Assignee’s
aggregate Revolving Commitment shall increase by $1,500,000), and (b) agrees
that no Assignor shall be obligated to undertake a corresponding assignment of
any of its outstanding portion of the Term Loan.

5. Representations and Warranties. To induce the Lenders to enter into this
Amendment, the Borrower hereby represents and warrants to the Lenders as
follows:

(a) The execution and delivery by the Borrower of this Amendment are within the
Borrower’s organizational powers and have been duly authorized by all necessary
organizational action;

(b) The execution, delivery and performance by the Borrower of this Amendment
(i) do not require any consent or approval of, registration or filing with, or
any action by, any Governmental Authority, except those as have been obtained or
made and are in full force and effect, (ii) will not violate any Requirements of
Law applicable to the Borrower or any of its Subsidiaries or any judgment, order
or ruling of any Governmental Authority, (iii) will not violate or result in a
default under any indenture, material agreement or other material instrument
binding on the Borrower or any of its Subsidiaries or any of its assets or give
rise to a right thereunder to require any payment to be made by the Borrower or
any of its Subsidiaries and (iv) will not result in the creation or imposition
of any Lien on any asset of the Borrower or any of its Subsidiaries prohibited
under the Loan Documents;

(c) This Amendment has been duly executed and delivered for the benefit of the
Borrower and constitutes a legal, valid and binding obligation of the Borrower,
enforceable against the Borrower in accordance with its terms except as the
enforceability hereof may be limited by bankruptcy, insolvency, reorganization,
moratorium and other laws affecting creditors’ rights and remedies in general;
and

(d) After giving effect to this Amendment, the representations and warranties
contained in the Credit Agreement and the other Loan Documents are true and
correct in all material respects, except to the extent that such representations
and warranties specifically refer to an earlier date, and no Default or Event of
Default has occurred and is continuing as of the date hereof.

(e) Since March 31, 2013, there has not occurred any event that has had or could
reasonably be expected to have, a Material Adverse Effect.

6. Effect of Amendment. Except as set forth expressly herein, all terms of the
Credit Agreement, as amended hereby, and the other Loan Documents shall be and
remain in full force and effect and shall constitute the legal, valid, binding
and enforceable obligations of the

--------------------------------------------------------------------------------

Borrower (to the extent that the Borrower is a party thereto) to the Lenders and
the Administrative Agent. The execution, delivery and effectiveness of this
Amendment shall not, except as expressly provided herein, operate as a waiver of
any right, power or remedy of the Lenders under the Credit Agreement, nor
constitute a waiver of any provision of the Credit Agreement. This Amendment
shall constitute a Loan Document for all purposes of the Credit Agreement.

7 Governing Law. This Amendment shall be governed by, and construed in
accordance with, the internal laws of the State of New York and all applicable
federal laws of the United States of America.

8. No Novation. This Amendment is not intended by the parties to be, and shall
not be construed to be, a novation of the Credit Agreement or an accord and
satisfaction in regard thereto.

9. Costs and Expenses. The Borrower agrees to pay on demand all reasonable,
out-of-pocket costs and expenses of the Administrative Agent in connection with
the preparation, execution and delivery of this Amendment, including, without
limitation, the reasonable fees and out-of-pocket expenses of outside counsel
for the Administrative Agent with respect thereto.

10. Counterparts. This Amendment may be executed by one or more of the parties
hereto in any number of separate counterparts, each of which shall be deemed an
original and all of which, taken together, shall be deemed to constitute one and
the same instrument. Delivery of an executed counterpart of this Amendment by
facsimile transmission or by electronic mail in .pdf form shall be as effective
as delivery of a manually executed counterpart hereof.

11. Binding Nature. This Amendment shall be binding upon and inure to the
benefit of the parties hereto, their respective successors,
successors-in-titles, and assigns.

12. Entire Understanding. This Amendment sets forth the entire understanding of
the parties with respect to the matters set forth herein, and shall supersede
any prior negotiations or agreements, whether written or oral, with respect
thereto.

[Signature Pages To Follow]

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed, under seal in the case of the Borrower, by their respective authorized
officers as of the day and year first above written.

 

BORROWER: BRISTOW GROUP INC. By:  

/s/ Joseph A. Baj

Name:   Joseph A. Baj Title:   Vice President and Treasurer

[Signature Page to Fourth Amendment]

--------------------------------------------------------------------------------

LENDERS: SUNTRUST BANK, individually and as

Administrative Agent, Swingline Lender and

Issuing Bank

By:  

/s/ Yann Pirio

Name:   Yann Pirio Title:   Managing Director

[Signature Page to Fourth Amendment]

--------------------------------------------------------------------------------

AMEGY BANK NATIONAL ASSOCIATION By:  

/s/ James Day

Name:   James Day Title:   Vice President

[Signature Page to Fourth Amendment]

--------------------------------------------------------------------------------

BANK OF AMERICA, N.A. By:  

/s/ Gary L. Mingle

Name:   Gary L. Mingle Title:   Senior Vice-President

[Signature Page to Fourth Amendment]

--------------------------------------------------------------------------------

BRANCH BANKING AND TRUST COMPANY By:  

/s/ Elizabeth Willis

Name:   Elizabeth Willis Title:   Assistant Vice President

 

[Signature Page to Fourth Amendment]

--------------------------------------------------------------------------------

CITIBANK, N.A. By:  

/s/ Eamon Baqui

Name:   Eamon Baqui Title:   Vice President

 

[Signature Page to Fourth Amendment]

--------------------------------------------------------------------------------

COMPASS BANK By:  

/s/ Collis Sanders

Name:   Collis Sanders Title:   Executive Vice President

 

[Signature Page to Fourth Amendment]

--------------------------------------------------------------------------------

CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH By:  

/s/ Nupur Kumar

Name:   Nupur Kumar Title:   Director By:  

/s/ Samuel Miller

Name:   Samuel Miller Title:   Authorized Signatory

 

[Signature Page to Fourth Amendment]

--------------------------------------------------------------------------------

HSBC BANK USA, N.A. By:  

/s/ Jay Fort

Name:   Jay Fort Title:   Senior Vice President

 

[Signature Page to Fourth Amendment]

--------------------------------------------------------------------------------

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION By:  

/s/ Thomas Okamoto

Name:   Thomas Okamoto Title:   Authorized Officer

 

[Signature Page to Fourth Amendment]

--------------------------------------------------------------------------------

PNC BANK, NATIONAL ASSOCIATION By:  

/s/ John Berry

Name:   John Berry Title:   Vice President

 

[Signature Page to Fourth Amendment]

--------------------------------------------------------------------------------

REGIONS BANK By:  

/s/ David Valentine

Name:   David Valentine Title:   Vice President

 

[Signature Page to Fourth Amendment]

--------------------------------------------------------------------------------

TRUSTMARK NATIONAL BANK By:  

/s/ Jeff Deutsch

Name:   Jeff Deutsch Title:   Senior Vice President

 

[Signature Page to Fourth Amendment]

--------------------------------------------------------------------------------

U.S. BANK NATIONAL ASSOCIATION By:  

/s/ Steven Dixon

Name:   Steven Dixon Title:   Vice President

 

[Signature Page to Fourth Amendment]

--------------------------------------------------------------------------------

WELLS FARGO BANK, NATIONAL ASSOCIATION By:  

/s/ Christina Faith

Name:   Christina Faith Title:   Director

 

[Signature Page to Fourth Amendment]

--------------------------------------------------------------------------------

WHITNEY BANK, individually and as Issuing Bank By:  

/s/ William Hendrix

Name:   William Hendrix Title:   Sr Vice President

 

[Signature Page to Fourth Amendment]

--------------------------------------------------------------------------------

Exhibit A

Schedule II to Credit Agreement

COMMITMENT AMOUNTS

 

Lender

  

Revolving Loan
Commitment

 

SunTrust Bank

   $ 27,000,000.00   

Bank of America

   $ 27,000,000.00   

JP Morgan

   $ 25,000,000.00   

Regions

   $ 25,000,000.00   

Wells Fargo

   $ 25,000,000.00   

Compass Bank

   $ 25,000,000.00   

Credit Suisse

   $ 27,000,000.00   

HSBC Bank USA, N.A.

   $ 25,000,000.00   

Whitney Bank

   $ 25,000,000.00   

U.S. Bank

   $ 25,000,000.00   

PNC Bank

   $ 25,000,000.00   

Amegy Bank

   $ 18,000,000.00   

BB&T

   $ 18,000,000.00   

Citibank

   $ 18,000,000.00   

Trustmark

   $ 15,000,000.00      

 

 

 

TOTAL:

   $ 350,000,000.00      

 

 

 

--------------------------------------------------------------------------------

Exhibit B

Schedule 2.9 to Credit Agreement

TERM LOAN AMORTIZATION

 

Payment Date

   Amount  

June 30, 2014

   $ 1,135,828.13   

September 30, 2014

   $ 1,135,828.13   

December 31, 2014

   $ 1,135,828.13   

March 31, 2015

   $ 1,135,828.13   

June 30, 2015

   $ 2,271,656.25   

September 30, 2015

   $ 2,271,656.25   

December 31, 2015

   $ 2,271,656.25   

March 31, 2016

   $ 2,271,656.25   

June 30, 2016

   $ 4,543,312.50   

September 30, 2016

   $ 4,543,312.50   

December 31, 2016

   $ 4,543,312.50   

March 31, 2017

   $ 4,543,312.50   

June 30, 2017

   $ 5,679,140.63   

September 30, 2017

   $ 5,679,140.63   

December 31, 2017

   $ 5,679,140.63   

March 31, 2018

   $ 5,679,140.63   

June 30, 2018

   $ 7,098,925.78   

September 30, 2018

   $ 7,098,925.78   

December 31, 2018

   $ 7,098,925.78   

March 31, 2019

   $ 7,098,925.78   

April 29, 2019

   $ 144,250,171.84   

--------------------------------------------------------------------------------

Exhibit C

Schedule 7.4 to Credit Agreement

EXISTING INVESTMENTS

as of December 31, 2013

($ in thousands)

 

Asset

   Borrower      Guarantors      Non-Guarantors  

Intercompany Investment

[eliminate on consolidation]

   $  1,275,114       $  111,435       $ —     

Investment in Unconsolidated Affiliates

   $ —         $ —         $
   
255,267   
  

Intercompany Notes Receivable

[eliminate on consolidation]

   $ 1,329,124       $ —         $ —