Exhibit 10.1

FOURTH AMENDMENT TO CREDIT AGREEMENT

FOURTH AMENDMENT TO CREDIT AGREEMENT (this “Fourth Amendment”), dated as of
July 24, 2013, by and among ATWOOD OCEANICS, INC., a Texas corporation (the
“Parent”), ATWOOD OFFSHORE WORLDWIDE LIMITED, an exempted company organized
under the laws of the Cayman Islands and a Wholly-Owned Subsidiary of the Parent
(the “Borrower”), the lenders party hereto (each, a “Lender” and, collectively,
the “Lenders”) and NORDEA BANK FINLAND PLC, NEW YORK BRANCH, as Administrative
Agent (in such capacity, the “Administrative Agent”). Unless otherwise
indicated, all capitalized terms used herein and not otherwise defined shall
have the respective meanings provided such terms in the Credit Agreement
referred to below.

W I T N E S S E T H:

WHEREAS, the Parent, the Borrower, the Lenders from time to time party thereto,
and the Administrative Agent are parties to a Credit Agreement, dated as of
May 6, 2011 and amended on November 23, 2011, January 18, 2012 and August 24,
2012 (as further amended, modified or otherwise supplemented, the “Credit
Agreement”);

WHEREAS, subject to the terms and conditions of this Fourth Amendment, the
parties hereto wish to amend certain provisions of the Credit Agreement as
herein provided;

NOW, THEREFORE, it is agreed:

I. Amendments to Credit Agreement.

1. Section 1.01 of the Credit Agreement is hereby amended by (i) deleting the
definition “Scheduled Commitment Reduction” in its entirety and (ii) inserting
the following new definitions in the appropriate alphabetical order:

“Commodity Exchange Act” shall mean the Commodity Exchange Act (7 U.S.C. § 1 et
seq.), as amended from time to time, and any successor statute.

“ECP” shall have the meaning assigned to such term in the definition of Excluded
Swap Obligation.

“Excluded Swap Obligation” shall mean, with respect to any Credit Party, any
Swap Obligation if, and to the extent that, all or a portion of the Guaranty of
such Credit Party of, or the grant by such Credit Party of a security interest
to secure, such Swap Obligation (or any Guaranty thereof) is or becomes illegal
under the Commodity Exchange Act or any rule, regulation or order of the
Commodity Futures Trading Commission (or the application or official
interpretation of any thereof) by virtue of such Credit Party’s failure for any
reason to constitute an “eligible contract participant” as defined in the
Commodity Exchange Act and the regulations thereunder (each an “ECP”) at the
time the Guaranty of such Credit Party or the grant of such security interest
becomes effective with respect to such Swap Obligation. If a Swap Obligation
arises under a master agreement governing more than one swap, such exclusion
shall apply only to the portion of such Swap Obligation that is attributable to
swaps for which such guarantee or security interest is or becomes illegal.

“Qualified ECP Guarantor” shall mean, in respect of any Swap Obligation, each
Credit Party that has total assets exceeding $10,000,000 at the time the
relevant guarantee or the grant of the relevant security interest becomes
effective with respect to such Swap Obligation or such other person as
constitutes an ECP under the Commodity Exchange Act or any regulations
promulgated thereunder and can cause another person to qualify as an ECP at such
time by entering into a keepwell under Section 1a(18)(A)(v)(II) of the Commodity
Exchange Act.

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“Swap Obligation” means, with respect to any Guarantor, any obligation to pay or
perform under any agreement, contract or transaction that constitutes a “swap”
within the meaning of section 1a(47) of the Commodity Exchange Act.

2. The definition of “Guaranteed Obligations” appearing in Section 1.01 of the
Credit Agreement is hereby amended by inserting the text “(other than Excluded
Swap Obligations)” immediately after the text “(even if such Lender subsequently
ceases to be a Lender under this Agreement for any reason)” appearing in such
definition.

3. The definition of “Obligations” appearing in Section 1.01 of the Credit
Agreement is hereby amended by inserting the following sentence at the end
thereof:

“Notwithstanding anything to the contrary contained herein or in any other
Credit Document, in no event will the Obligations include any Excluded Swap
Obligations.”

4. The definition of “Other Obligations” appearing in Section 1.01 of the Credit
Agreement is hereby amended by inserting the text “and Excluded Swap
Obligations” immediately after the text “but excluding, for the avoidance of
doubt, any Obligations” and immediately prior to the close parentheses (“)”)
appearing in such definition.

5. Section 4.02(a) of the Credit Agreement is hereby amended by deleting the
text “and shall be applied to reduce the Scheduled Commitment Reductions as of
the date of such reduction in direct order of maturity” immediately prior to the
period (“.”) at the end of such Section.

6. Section 4.03 of the Credit Agreement is hereby amended by (i) deleting the
text set forth in subsection (b) in its entirety and inserting the text
“[reserved]” in lieu thereof and (ii) deleting the text set forth in subsection
(c) in its entirety and inserting the text “[reserved]” in lieu thereof.

7. Section 4.03(e) of the Credit Agreement is hereby amended by deleting the
text “Sections 4.03(g) and 10.09” and inserting the text “Section 10.09” in lieu
thereof.

8. The Credit Agreement is hereby amended by deleting Section 4.03(g) in its
entirety.

9. Section 10.04(vii) of the Credit Agreement is hereby amended by deleting the
text set forth therein in its entirety and inserting the text “so long as no
Default or Event of Default then exists or would result therefrom, additional
Indebtedness of the Parent or of Subsidiaries of the Parent, provided that
(a) both before and after giving effect to such additional Indebtedness, the
Parent and its Subsidiaries shall be in pro forma compliance with the financial
covenants contained in Sections 10.07, 10.08 and 10.10, (b) such additional
Indebtedness shall not be secured by any Collateral and (c) such additional
Indebtedness, if incurred by a Credit Party, shall be in compliance with
Section 10.15;” in lieu thereof.

10. Section 10.15(c)(II)(iii) of the Credit Agreement is hereby amended by
inserting the text “(so long as, in the case of Indebtedness incurred pursuant
to Section 10.04(vii), such Indebtedness complies with the requirements of the
preceding clause 10.15(c)(II)(ii) or clause 10.15(c)(II)(i))” immediately prior
to the text “or permitted pursuant to Section 10.05(xv);”.

 

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11. The Credit Agreement is hereby further amended by inserting the following
new Section 13.10 immediately after Section 13.09 thereof:

“13.10 Keepwell. Each Qualified ECP Guarantor hereby jointly and severally
absolutely, unconditionally and irrevocably undertakes to provide such funds or
other support as may be needed from time to time by each other Guarantor to
honor all of its obligations under the guarantee contained herein in respect of
Swap Obligations (provided, however, that each Qualified ECP Guarantor shall
only be liable under this Section 13.10 for the maximum amount of such liability
that can be hereby incurred without rendering its obligations under this
Section 13.10, or otherwise under this Agreement, voidable under applicable law
relating to fraudulent conveyance or fraudulent transfer, and not for any
greater amount). The obligations of each Qualified ECP Guarantor under this
Section 13.10 shall remain in full force and effect until the discharge of the
Guaranteed Obligations in full. Each Qualified ECP Guarantor intends that this
Section 13.10 constitute, and this Section 13.10 shall be deemed to constitute,
a “keepwell, support, or other agreement” for the benefit of each other
Guarantor for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange
Act.”.

12. Section 14.12(a)(Z) of the Credit Agreement is hereby amended by deleting
the text “(7) reduce the amount of, or extend the date of, any Scheduled
Commitment Reduction without the consent of the Majority Lenders of the
respective Tranche of Commitments affected thereby” in its entirety and
inserting the text “(7) [Reserved]” in lieu thereof.

II. Amendments to the U.S. Subsidiaries Guaranty.

1. Paragraph 1 of the U.S. Subsidiaries Guaranty is hereby amended by inserting
the following sentence at the end of the first paragraph thereof:

“Notwithstanding anything to the contrary contained herein or in any other
Credit Document, in no event will the Guaranteed Obligations include any
Excluded Swap Obligations.”

2. The Subsidiaries Guaranty is hereby further amended by inserting the
following new Section 28 immediately after Section 27 thereof:

“28. Keepwell. Each Qualified ECP Guarantor hereby jointly and severally
absolutely, unconditionally and irrevocably undertakes to provide such funds or
other support as may be needed from time to time by each other Guarantor to
honor all of its obligations under the guarantee contained herein in respect of
Swap Obligations (provided, however, that each Qualified ECP Guarantor shall
only be liable under this Section 28 for the maximum amount of such liability
that can be hereby incurred without rendering its obligations under this
Section 28, or otherwise under this Agreement, voidable under applicable law
relating to fraudulent conveyance or fraudulent transfer, and not for any
greater amount). The obligations of each Qualified ECP Guarantor under this
Section 28 shall remain in full force and effect until the discharge of the
Guaranteed Obligations in full. Each Qualified ECP Guarantor intends that this
Section 28 constitute, and this Section 28 shall be deemed to constitute, a
“keepwell, support, or other agreement” for the benefit of each other Guarantor
for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.”.

 

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III. Miscellaneous Provisions.

1. In order to induce the Lenders to enter into this Fourth Amendment, the
Borrower hereby represents and warrants that (i) no Default or Event of Default
exists as of the Fourth Amendment Effective Date (as defined herein) before or
after giving effect to this Fourth Amendment and (ii) all of the representations
and warranties contained in the Credit Agreement or the other Credit Documents
are true and correct in all material respects on the Fourth Amendment Effective
Date both before and after giving effect to this Fourth Amendment, with the same
effect as though such representations and warranties had been made on and as of
the Fourth Amendment Effective Date (it being understood that any representation
or warranty that by its terms is made as of a specific date shall be true and
correct in all material respects as of such specific date).

2. This Fourth Amendment is limited precisely as written and shall not be deemed
to (i) be a waiver of or a consent to the modification of or deviation from any
other term or condition of the Credit Agreement or the other Credit Documents or
any of the other instruments or agreements referred to therein, or
(ii) prejudice any right or rights which any of the Lenders or the
Administrative Agent now have or may have in the future under or in connection
with the Credit Agreement, as amended hereby, the other Credit Documents or any
of the other instruments or agreements referred to therein. The Administrative
Agent, the Collateral Agent and the Lenders expressly reserve all their rights
and remedies except as expressly set forth in this Fourth Amendment.

3. This Fourth Amendment may be executed in any number of counterparts and by
the different parties hereto on separate counterparts, each of which
counterparts when executed and delivered shall be an original, but all of which
shall together constitute one and the same instrument. A complete set of
counterparts shall be lodged with the Borrower and the Administrative Agent.

5. THIS FOURTH AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER
SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF
NEW YORK.

6. This Fourth Amendment shall become effective on the date (the “Fourth
Amendment Effective Date”) when (i) the Parent, the Borrower and the Required
Lenders shall have signed a counterpart hereof (whether the same or different
counterparts) and shall have delivered (including by way of facsimile or other
electronic transmission) the same to White & Case LLP, 1155 Avenue of the
Americas, New York, NY 10036; Attention: May Yip (facsimile number: 212-354-8113
/ email: myip@whitecase.com) and Kendra Kocovsky (facsimile number: 212-354-8113
/ email: kendra.kocovsky@whitecase.com) and (ii) the Borrower shall have paid to
the Administrative Agent all reasonable out-of-pocket costs and expenses in
connection with the Fourth Amendment (including, without limitation, the
reasonable fees and expenses of White & Case LLP).

7. From and after the Fourth Amendment Effective Date, all references in the
Credit Agreement and each of the other Credit Documents to the Credit Agreement
shall be deemed to be references to the Credit Agreement, as modified hereby.

*     *     *

 

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IN WITNESS WHEREOF, the parties hereto have caused their duly authorized
officers to execute and deliver this Fourth Amendment as of the date first above
written.

 

ATWOOD OCEANICS, INC. By   /s/ Robert J. Saltiel   Name: Robert J. Saltiel  
Title: President & Chief Executive Officer

 

ATWOOD OFFSHORE WORLDWIDE LIMITED By   /s/ A. H. Dyne   Name: A. H. Dyne  
Title: Director

 

Signature page to Fourth Amendment to Credit Agreement

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NORDEA BANK FINLAND PLC, NEW YORK

BRANCH, as Administrative Agent

By   /s/ Martin Lunder   Name: Martin Lunder   Title: Senior Vice President

By   /s/ Lynn Sauro   Name: Lynn Sauro   Title: Vice President

 

Signature page to Fourth Amendment to Credit Agreement

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SIGNATURE PAGE TO THE FOURTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE
FIRST WRITTEN ABOVE, AMONG ATWOOD OCEANICS, INC., ATWOOD OFFSHORE WORLDWIDE
LIMITED, VARIOUS LENDERS PARTY HERETO AND NORDEA BANK FINLAND PLC, NEW YORK
BRANCH, AS ADMINISTRATIVE AGENT NORDEA BANK FINLAND PLC, NEW YORK BRANCH, as
Lender By   /s/ Martin Lunder   Name: Martin Lunder   Title: Senior Vice
President By   /s/ Lynn Sauro   Name: Lynn Sauro   Title: Vice President

 

Signature page to Fourth Amendment to Credit Agreement

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SIGNATURE PAGE TO THE FOURTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE
FIRST WRITTEN ABOVE, AMONG ATWOOD OCEANICS, INC., ATWOOD OFFSHORE WORLDWIDE
LIMITED, VARIOUS LENDERS PARTY HERETO AND NORDEA BANK FINLAND PLC, NEW YORK
BRANCH, AS ADMINISTRATIVE AGENT DNB Bank ASA, Grand Cayman Branch By   /s/ Stian
Lovseth   Name: Stian Lovseth   Title: First Vice President By   /s/ Evan Uhlick
  Name: Evan Uhlick   Title: Vice President

 

Signature page to Fourth Amendment to Credit Agreement

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SIGNATURE PAGE TO THE FOURTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE
FIRST WRITTEN ABOVE, AMONG ATWOOD OCEANICS, INC., ATWOOD OFFSHORE WORLDWIDE
LIMITED, VARIOUS LENDERS PARTY HERETO AND NORDEA BANK FINLAND PLC, NEW YORK
BRANCH, AS ADMINISTRATIVE AGENT HSBC Bank USA, N.A. By   /s/ Ryan Smith   Name:
Ryan Smith   Title: Vice President

 

Signature page to Fourth Amendment to Credit Agreement

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SIGNATURE PAGE TO THE FOURTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE
FIRST WRITTEN ABOVE, AMONG ATWOOD OCEANICS, INC., ATWOOD OFFSHORE WORLDWIDE
LIMITED, VARIOUS LENDERS PARTY HERETO AND NORDEA BANK FINLAND PLC, NEW YORK
BRANCH, AS ADMINISTRATIVE AGENT Wells Fargo Bank, N.A. By   /s/ T. Alan Smith  
Name: T. Alan Smith   Title: Managing Director

 

Signature page to Fourth Amendment to Credit Agreement

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SIGNATURE PAGE TO THE FOURTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE
FIRST WRITTEN ABOVE, AMONG ATWOOD OCEANICS, INC., ATWOOD OFFSHORE WORLDWIDE
LIMITED, VARIOUS LENDERS PARTY HERETO AND NORDEA BANK FINLAND PLC, NEW YORK
BRANCH, AS ADMINISTRATIVE AGENT BNP PARIBAS S.A. By   /s/ S. Berveros-Canpagne  
Name: S. Berveros-Canpagne   Title: Head of Offshore By   /s/ Paul Barnes  
Name: Paul Barnes   Title: Managing Director

 

Signature page to Fourth Amendment to Credit Agreement

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SIGNATURE PAGE TO THE FOURTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE
FIRST WRITTEN ABOVE, AMONG ATWOOD OCEANICS, INC., ATWOOD OFFSHORE WORLDWIDE
LIMITED, VARIOUS LENDERS PARTY HERETO AND NORDEA BANK FINLAND PLC, NEW YORK
BRANCH, AS ADMINISTRATIVE AGENT ING Capital LLC By   /s/ Richard Ennis   Name:
Richard Ennis   Title: Managing Director

 

Signature page to Fourth Amendment to Credit Agreement

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SIGNATURE PAGE TO THE FOURTH

AMENDMENT TO

CREDIT AGREEMENT, DATED AS OF THE DATE FIRST WRITTEN ABOVE, AMONG ATWOOD
OCEANICS, INC., ATWOOD OFFSHORE WORLDWIDE LIMITED, VARIOUS LENDERS PARTY HERETO
AND NORDEA BANK FINLAND PLC, NEW YORK BRANCH, AS ADMINISTRATIVE AGENT

NIBC Bank N.V. By  

/s/ Rob ten Heggeler

  Name: Rob ten Heggeler   Title: Member of the Managing Board By  

/s/ Jeroen van der Putten

  Name: Jeroen van der Putten   Title: Associate Director

 

Signature page to Fourth Amendment to Credit Agreement

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SIGNATURE PAGE TO THE FOURTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE
FIRST WRITTEN ABOVE, AMONG ATWOOD OCEANICS, INC., ATWOOD OFFSHORE WORLDWIDE
LIMITED, VARIOUS LENDERS PARTY HERETO AND NORDEA BANK FINLAND PLC, NEW YORK
BRANCH, AS ADMINISTRATIVE AGENT Regions Bank By  

/s/ David Valentine

  Name: David Valentine   Title: Vice President

 

Signature page to Fourth Amendment to Credit Agreement

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SIGNATURE PAGE TO THE FOURTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE
FIRST WRITTEN ABOVE, AMONG ATWOOD OCEANICS, INC., ATWOOD OFFSHORE WORLDWIDE
LIMITED, VARIOUS LENDERS PARTY HERETO AND NORDEA BANK FINLAND PLC, NEW YORK
BRANCH, AS ADMINISTRATIVE AGENT Skandinaviska Enskilda Banken AB (publ) By:  

/s/ Per Olav Bucher-Johannessen

  Name: Per Olav Bucher-Johannessen   Title: By:  

/s/ Kristin Kongsrud

  Name: Kristin Kongsrud   Title:

 

Signature page to Fourth Amendment to Credit Agreement

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SIGNATURE PAGE TO THE FOURTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE
FIRST WRITTEN ABOVE, AMONG ATWOOD OCEANICS, INC., ATWOOD OFFSHORE WORLDWIDE
LIMITED, VARIOUS LENDERS PARTY HERETO AND NORDEA BANK FINLAND PLC, NEW YORK
BRANCH, AS ADMINISTRATIVE AGENT BARCLAYS BANK PLC By:  

/s/ Vanessa A. Kurbatskiy

  Name: Vanessa A. Kurbatskiy   Title: Vice President

 

Signature page to Fourth Amendment to Credit Agreement

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SIGNATURE PAGE TO THE FOURTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE
FIRST WRITTEN ABOVE, AMONG ATWOOD OCEANICS, INC., ATWOOD OFFSHORE WORLDWIDE
LIMITED, VARIOUS LENDERS PARTY HERETO AND NORDEA BANK FINLAND PLC, NEW YORK
BRANCH, AS ADMINISTRATIVE AGENT CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH By  

/s/ Mikhail Faybusovich

  Name: Mikhail Faybusovich   Title: Authorized Signatory By  

/s/ Tyler R. Smith

  Name: Tyler R. Smith   Title: Authorized Signatory

 

Signature page to Fourth Amendment to Credit Agreement

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SIGNATURE PAGE TO THE FOURTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE
FIRST WRITTEN ABOVE, AMONG ATWOOD OCEANICS, INC., ATWOOD OFFSHORE WORLDWIDE
LIMITED, VARIOUS LENDERS PARTY HERETO AND NORDEA BANK FINLAND PLC, NEW YORK
BRANCH, AS ADMINISTRATIVE AGENT Natixis By:  

/s/ Louis P. Laville III

  Name: Louis P. Laville III   Title: Managing Director By:  

/s/ Stuart Murray

  Name: Stuart Murray   Title: Managing Director

 

Signature page to Fourth Amendment to Credit Agreement

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SIGNATURE PAGE TO THE FOURTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE
FIRST WRITTEN ABOVE, AMONG ATWOOD OCEANICS, INC., ATWOOD OFFSHORE WORLDWIDE
LIMITED, VARIOUS LENDERS PARTY HERETO AND NORDEA BANK FINLAND PLC, NEW YORK
BRANCH, AS ADMINISTRATIVE AGENT CREDIT INDUSTRIEL ET COMMERCIAL By:  

/s/ Andrew McKuin

  Name: Andrew McKuin   Title: Vice President By:  

/s/ Alex Aupoix

  Name: Alex Aupoix   Title: Managing Director

 

Signature page to Fourth Amendment to Credit Agreement

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SIGNATURE PAGE TO THE FOURTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE
FIRST WRITTEN ABOVE, AMONG ATWOOD OCEANICS, INC., ATWOOD OFFSHORE WORLDWIDE
LIMITED, VARIOUS LENDERS PARTY HERETO AND NORDEA BANK FINLAND PLC, NEW YORK
BRANCH, AS ADMINISTRATIVE AGENT ITF International Transport Finance Suisse AG
By:  

/s/ Natalja Formuzala

  Name: Natalja Formuzala   Title: Vice President By:  

/s/ Alexander Schaffert

  Name: Alexander Schaffert   Title: Senior Vice President

 

Signature page to Fourth Amendment to Credit Agreement