Exhibit10.1

Execution Version

COMMITMENT INCREASE AGREEMENT AND AMENDMENT NO. 3 TO CREDIT AGREEMENT

This COMMITMENT INCREASE AGREEMENT AND AMENDMENT NO. 3 TO CREDIT AGREEMENT (this
“Amendment”), dated effective as of December 4, 2012 (the “Effective Date”), is
by and among Rowan Companies, Inc., a Delaware corporation (“Rowan Delaware”),
Rowan Companies plc, an English public limited company (the “Parent”, and
together with Rowan Delaware, each a “Borrower” and collectively, the
“Borrowers”), the Lenders party hereto, and Wells Fargo Bank, National
Association, as an issuing lender, as swing line lender, and as administrative
agent for the Lenders (in such capacity, the “Administrative Agent”).

WHEREAS, the Borrowers, the lenders from time to time party thereto (the
“Lenders”), and the Administrative Agent are parties to the Credit Agreement
dated as of September 16, 2010, as amended by that certain Amendment No. 1 and
Consent thereto dated as of June 30, 2011 and that certain Amendment No. 2 dated
as of May 4, 2012 (as so amended, and as may be further amended, supplemented or
modified from to time to time, the “Credit Agreement”, the capitalized terms of
which are used herein unless otherwise defined herein);

WHEREAS, pursuant to Section 2.1(d) of the Credit Agreement, the Parent has the
right, subject to the terms and conditions thereof, to increase the aggregate
Revolving Commitments by allowing one or more Revolving Lenders to increase
their respective Revolving Commitments or by allowing one or more other banks or
other financial institutions to become party to the Credit Agreement;

WHEREAS, the Parent has given notice to the Administrative Agent and the Lenders
of its intention, pursuant to such Section 2.1(d) of the Credit Agreement, to
increase the aggregate Revolving Commitments by $250,000,000;

WHEREAS, Mizuho Corporate Bank, Ltd. (the “New Lender”) desires to become a
Lender under the Credit Agreement with a Revolving Commitment as set forth on
Schedule II to the Credit Agreement;

WHEREAS, the Borrowers have requested and the Lenders have agreed to make
certain amendments to the Credit Agreement, each as provided for herein.

NOW THEREFORE, in consideration of the premises and the mutual covenants,
representations and warranties contained herein, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto hereby agree as follows:

Section 1. Amendments.

(a) Section 1.1 of the Credit Agreement is hereby amended by adding the
following new defined term in its appropriate alphabetical order:

“Third Amendment Closing Date” means December 4, 2012.

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

(b) The definition of “Arrangers” in Section 1.1 of the Credit Agreement is
hereby amended by replacing “DnB Markets, Inc.” with “DNB Markets, Inc.”.

(c) The definition of “Issuing Lender” in Section 1.1 of the Credit Agreement is
hereby amended by replacing “DnB Bank ASA” with “DNB Bank ASA”.

(d) The definition of “Revolving Commitment” in Section 1.1 of the Credit
Agreement is hereby amended by replacing “The initial aggregate amount of
Revolving Commitments as of the Closing Date is $500,000,000” with “The
aggregate amount of Revolving Commitments as of the Third Amendment Closing Date
is $750,000,000”.

(e) Section 2.1(d) of the Credit Agreement is hereby amended by replacing “(B)
the aggregate amount of all Revolving Facility Increases shall not exceed
$250,000,000” with “(B) the aggregate amount of all Revolving Facility Increases
since the Third Amendment Closing Date shall not exceed $250,000,000”.

(f) Section 5.6 of the Credit Agreement is hereby restated in its entirety as
follows:

5.6 Additional Guarantors.

(a) Immediately upon the creation of any new Material Subsidiary permitted by
this Agreement and within 30 days of any Person becoming a Material Subsidiary
or after the purchase by the Parent or any of its Subsidiaries of the Equity
Interests of any Person, which purchase results in such Person becoming a
Material Subsidiary, the Parent shall (i) cause such Subsidiary to execute and
deliver to the Administrative Agent, a joinder to the Material Subsidiary
Guaranty, and (ii) cause such Subsidiary to deliver such evidence of corporate
authority to enter into such other Credit Documents and favorable opinions of
counsel to such Person (which shall cover, among other things, the legality,
validity, binding effect and enforceability of the documentation referred to in
clause (i)) as the Administrative Agent may reasonably request.

(b) Prior to or simultaneously with the entry by any other Person into a
Guaranty, the Parent shall (i) cause such Person to execute and deliver to the
Administrative Agent, a Guaranty, a joinder to a Guaranty or such other
documents as may be necessary or desirable to effect such Guaranty, and
(ii) cause such Person to deliver such evidence of corporate authority to enter
into such other Credit Documents and favorable opinions of counsel to such
Person (which shall cover, among other things, the legality, validity, binding
effect and enforceability of the documentation referred to in clause (i)) as the
Administrative Agent may reasonably request.

(g) Section 6.1 of the Credit Agreement is hereby amended by (i) replacing “;
and” with “;” in clause (c) thereof; (ii) replacing “intercompany Debt” with
“unsecured intercompany Debt” in clause (d) thereof; (iii) replacing “.” with “;
and” in clause (d) thereof; and (iv) adding the following as a new clause (e):

(e) secured intercompany Debt; provided that (i) any holder of such secured
intercompany Debt (each an “Intercompany Obligee”) shall (w) be a Credit Party,
(x)

 

-2-

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

have no Debt other than Debt in an amount not to exceed $1,000,000 when
aggregated with the Debt of each other Intercompany Obligee, (y) not grant or
permit to exist any Lien on its Property, and (z) not transfer such secured
intercompany Debt or Liens securing such secured intercompany Debt to any Person
who is not a Credit Party and has not expressly agreed in writing prior to such
transfer to be subject to the terms of this clause (e) pursuant to documentation
in form and substance satisfactory to the Administrative Agent; (ii) any Person
incurring or guaranteeing such secured intercompany Debt and any Person granting
Liens to secure such secured intercompany Debt shall be a Credit Party; and
(iii) the Parent and its Subsidiaries shall be in compliance, on a pro forma
basis after giving effect to such transactions, with the covenants contained in
this Agreement recomputed as of the last day of the most recently ended fiscal
quarter of the Parent as if the incurrence of the secured intercompany Debt in
question had occurred on the first day of each relevant period for testing such
compliance.

(h) Section 6.2 of the Credit Agreement is hereby amended by (i) replacing “;
and” with “;” in clause (k) thereof; (ii) replacing “the Parent as a Subsidiary”
with “the Parent or a Subsidiary” in clause (l) thereof; (iii) replacing “.”
with “; and” in clause (l) thereof; and (iv) adding the following as a new
clause (m):

(m) Liens granted to a Credit Party to secure Debt permitted under
Section 6.1(e).

(i) Clause (a)(iii) of Section 6.5 of the Credit Agreement is hereby restated in
its entirety as follows:

(iii) any Subsidiary from making Restricted Payments (other than Rowan Delaware
in connection with Debt permitted under Section 6.1(e) in its capacity as a
primary obligor or guarantor of such Debt) or making or paying intercompany
loans and advances to any Borrower,

(j) Section 6.7(b) of the Credit Agreement is hereby restated in its entirety as
follows:

(b) The Parent shall not, nor shall it permit any Credit Party to, sell,
transfer, lease or otherwise dispose of (in one transaction or in a series of
transactions) all or substantially all of its assets, or all or substantially
all of the stock of any Material Subsidiary (in each case, whether now owned or
hereafter acquired), or liquidate or dissolve, except that, if at the time
thereof and immediately after giving effect thereto no Default shall have
occurred and be continuing, (i) any Subsidiary of the Parent (other than Rowan
Delaware) may liquidate or dissolve if the Parent determines in good faith that
such liquidation or dissolution is in the best interests of the Parent and is
not materially disadvantageous to the Lenders and (ii) any Subsidiary of the
Parent may transfer all or substantially all of its assets and all or
substantially all of the stock of any Material Subsidiary to any Borrower or any
Subsidiary that is a Guarantor or any Subsidiary who becomes a Borrower or a
Guarantor prior to or simultaneously with such transfer.

 

-3-

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

(k) Schedule I to the Credit Agreement is hereby amended by (i) replacing
“BBB+/Baa1” with “BBB+/Baa1 or higher”, (ii) replacing “BB/Ba2” with “BB/Ba2 or
lower”, and (iii) replacing “the Parent’s secured unsecured debt” with “the
Parent’s senior unsecured debt”.

(l) Schedule II to the Credit Agreement is hereby replaced in its entirety with
Schedule II attached hereto.

Section 2. Increase of Revolving Commitments. Pursuant to Section 2.1(d) of the
Credit Agreement and upon the effectiveness of this Amendment pursuant to
Section 4 below, the aggregate Revolving Commitments are hereby increased from
$500,000,000.00 to $750,000,000.00. The Revolving Commitments of (a) the Lenders
who have severally agreed to increase their respective Revolving Commitments
(each, an “Increasing Lender” and collectively, the “Increasing Lenders”) and
(b) the New Lender are set forth on Schedule II to the Credit Agreement, in each
case after giving effect to this Amendment and the increase of the Revolving
Commitments pursuant to this Amendment.

Section 3. New Lender. By its execution and delivery of this Amendment, the New
Lender hereby agrees to become a Lender under the Credit Agreement with a
Revolving Commitment as set forth on Schedule II to the Credit Agreement. The
New Lender hereby represents and warrants to the Administrative Agent as
follows: (a) it has full power and authority, and has taken all action
necessary, to execute and deliver this Amendment, to consummate the transactions
contemplated hereby and to become a Lender under the Credit Agreement, (b) from
and after the Effective Date, it shall be bound by the provisions of the Credit
Agreement as a Lender thereunder and, to the extent of its Revolving Commitment,
shall have the obligations of a Lender thereunder, and (c) it has received a
copy of the Credit Agreement, together with copies of the most recent financial
statements delivered pursuant to Section 5.2 thereof, as applicable, and such
other documents and information as it has deemed appropriate to make its own
credit analysis and decision to enter into this Amendment on the basis of which
it has made such analysis and decision independently and without reliance on the
Administrative Agent or any other Lender; and agrees that (1) it will,
independently and without reliance on the Administrative Agent or any other
Lender, and based on such documents and information as it shall deem appropriate
at the time, continue to make its own credit decisions in taking or not taking
action under the Credit Documents, and (2) it will perform in accordance with
their terms all of the obligations which by the terms of the Credit Documents
are required to be performed by it as a Lender.

Section 4. Conditions Precedent. This Amendment shall become effective as of the
Effective Date upon the satisfaction of the following conditions precedent:

(a) Documentation. The Administrative Agent shall have received the following,
each dated on or before the Effective Date, duly executed by all the parties
thereto, each in form and substance satisfactory to the Administrative Agent:

(1) (i) counterparts of this Amendment duly executed by each Borrower, the
Lenders and the Administrative Agent, (ii) counterparts of the attached Material
Subsidiary Acknowledgment and Reaffirmation duly executed by each Material
Subsidiary and (iii) counterparts of the attached Parent Acknowledgment and
Reaffirmation duly executed by the Parent;

 

-4-

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

(2) a Revolving Note payable to the order of (i) each Increasing Lender in the
amount of such Increasing Lender’s Revolving Commitment, as increased hereby and
(ii) the New Lender in the amount of the New Lender’s Revolving Commitment, in
each case as requested by such Lender;

(3) a certificate from a Responsible Officer of each Borrower dated as of the
Effective Date hereof stating that, both before and after giving effect to this
Amendment and the increase of the Revolving Commitments pursuant to this
Amendment (A) all representations and warranties of the Credit Parties set forth
in the Credit Agreement are true and correct in all material respects (provided
that (i) to the extent any representation and warranty expressly relates to a
specific earlier date, such representation and warranty is true and correct in
all material respects as of such earlier date, (ii) to the extent any
representation and warranty is qualified as to “Material Adverse Change” or
otherwise as to “materiality”, such representation and warranty is true and
correct in all respects and (iii) the representations and warranties contained
in Section 4.4(a) of the Credit Agreement shall be deemed to refer to the most
recent statements furnished pursuant to Sections 5.2(a) and (b) of the Credit
Agreement) and (B) no Default has occurred and is continuing;

(4) a secretary’s certificate of the Parent dated the Effective Date and
certifying (A) that there have been no changes to the organizational documents
of the Parent since the Second Amendment Closing Date or attaching such
amendments, (B) that attached thereto is a true and complete copy of resolutions
duly adopted by the Board of Directors of the Parent authorizing the execution
and delivery of this Amendment and the Credit Documents executed in connection
herewith and the performance of the Credit Agreement as amended hereby and the
other Credit Documents, and that such resolutions have not been modified,
rescinded or amended and are in full force and effect, and (C) as to the
incumbency and specimen signature of each officer of the Parent executing this
Amendment, any Credit Document or any other document delivered in connection
herewith on behalf of the Parent;

(5) a secretary’s certificate of Rowan Delaware dated the Effective Date and
certifying (A) that there have been no changes to the organizational documents
of Rowan Delaware since the Second Amendment Closing Date or attaching such
amendments, (B) that attached thereto is a true and complete copy of resolutions
duly adopted by the Board of Directors of Rowan Delaware authorizing the
execution and delivery of this Amendment and the Credit Documents executed in
connection herewith and the performance of the Credit Agreement as amended
hereby and the other Credit Documents, and that such resolutions have not been
modified, rescinded or amended and are in full force and effect, and (C) as to
the incumbency and specimen signature of each officer of Rowan Delaware
executing this Amendment, any Credit Document or any other document delivered in
connection herewith on behalf of Rowan Delaware;

(6) certificates of good standing for each of the Parent and Rowan Delaware in
(a) the jurisdiction in which each Person is organized and (b) each jurisdiction
in which such good standing is necessary except where the failure to be in good
standing could not reasonably be expected to result in a Material Adverse
Change, which certificate shall be dated a date not earlier than 30 days prior
to the Third Amendment Closing Date;

 

-5-

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

(7) a legal opinion of Andrews Kurth LLP, outside counsel to the Credit Parties,
in form and substance reasonably acceptable to the Administrative Agent;

(8) a legal opinion of Baker & McKenzie, United Kingdom counsel to the Parent;
and

(9) such other documents, governmental certificates, and agreements as any
Lender Party may reasonably request.

(b) Payment of Expenses. On the Effective Date, the Borrowers shall have paid
the fees required to be paid to the Administrative Agent and the Lenders on the
Effective Date, including, without limitation, the fees set forth in the fee
letter dated as of November 6, 2012 among the Borrowers and the Administrative
Agent and all other costs and expenses which have been invoiced and are payable
pursuant to Section 10.1 of the Credit Agreement.

(c) Prepayment of Revolving Advances. The Borrowers shall have made the
prepayment of the Revolving Advances required pursuant to Section 2.6(b)(ii) of
the Credit Agreement, if any, resulting from the increase and reallocation of
the Revolving Commitments pursuant to this Amendment. Such prepayment may be
made with the proceeds of the Advances made by the Increasing Lenders and the
New Lender in connection with such increase occurring simultaneously with such
prepayment.

Section 5. Representations and Warranties. Each of the Borrowers represents and
warrants to the Administrative Agent that the representations and warranties set
forth in Article IV of the Credit Agreement are true and correct on the date
hereof as if made on and as of the date hereof and as if each reference in said
Article IV to “this Agreement” or “the Credit Documents” included reference to
this Amendment.

Section 6. Miscellaneous. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. Except as herein provided,
the Credit Agreement shall remain unchanged and in full force and effect. This
Amendment may be executed in any number of counterparts, all of which taken
together shall constitute one and the same amendatory instrument and any of the
parties hereto may execute this Amendment by signing any such counterpart.
Transmission by facsimile of an executed counterpart of this Amendment shall be
deemed to constitute due and sufficient delivery of such counterpart.

[Signature Pages Follow]

 

-6-

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

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed and delivered by their respective duly authorized officers as of the
Effective Date.

 

BORROWERS: ROWAN COMPANIES, INC. By:  

/s/ J. Kevin Bartol

J. Kevin Bartol, Executive Vice President, Chief Financial Officer and Treasurer

 

Signature Page to Commitment Increase Agreement and Amendment No. 3 to Credit
Agreement

Rowan Companies, Inc. and Rowan Companies plc

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

ROWAN COMPANIES PLC By:  

/s/ J. Kevin Bartol

J. Kevin Bartol, Executive Vice President, Chief Financial Officer and Treasurer

 

Signature Page to Commitment Increase Agreement and Amendment No. 3 to Credit
Agreement

Rowan Companies, Inc. and Rowan Companies plc

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

LENDER PARTIES: WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent,
Swingline Lender, an Issuing Lender, a Lender and an Increasing Lender By:  

/s/ Donald W. Herrick, Jr.

Name:   Donald W. Herrick, Jr. Title:   Director

 

Signature Page to Commitment Increase Agreement and Amendment No. 3 to Credit
Agreement

Rowan Companies, Inc. and Rowan Companies plc

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

CITIBANK, N.A., as an Issuing Lender, a Lender and an Increasing Lender By:  

/s/ Robert Malleck

Name:   Robert Malleck Title:   Vice President

 

Signature Page to Commitment Increase Agreement and Amendment No. 3 to Credit
Agreement

Rowan Companies, Inc. and Rowan Companies plc

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

DNB BANK ASA, as an Issuing Lender, a Lender and an Increasing Lender By:  

/s/ Barbara Gronquist

Name:  

Barbara Gronquist

Title:  

Senior Vice President

By:  

/s/ Kjell Tore Egge

Name:  

Kjell Tore Egge

Title:  

Senior Vice President

 

Signature Page to Commitment Increase Agreement and Amendment No. 3 to Credit
Agreement

Rowan Companies, Inc. and Rowan Companies plc

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

ROYAL BANK OF CANADA, as an Issuing Lender, a Lender and an Increasing Lender
By:  

/s/ Mark Lumpkin, Jr.

Name:  

Mark Lumpkin, Jr.

Title:  

Authorized Signatory

 

Signature Page to Commitment Increase Agreement and Amendment No. 3 to Credit
Agreement

Rowan Companies, Inc. and Rowan Companies plc

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

BANK OF AMERICA, N.A., as a Lender and an Increasing Lender By:  

/s/ Alia Qaddumi

Name:  

Alia Qaddumi

Title:  

Vice President

 

Signature Page to Commitment Increase Agreement and Amendment No. 3 to Credit
Agreement

Rowan Companies, Inc. and Rowan Companies plc

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

GOLDMAN SACHS BANK USA, as a Lender and an Increasing Lender By:  

/s/ Mark Walton

Name:  

Mark Walton

Title:  

Authorized Signatory

 

Signature Page to Commitment Increase Agreement and Amendment No. 3 to Credit
Agreement

Rowan Companies, Inc. and Rowan Companies plc

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

THE BANK OF TOKYO-MITSUBISHI UFJ, LTD. as a Lender and an Increasing Lender By:
 

/s/ Andrew Oram

Name:  

Andrew Oram

Title:  

Managing Director

 

Signature Page to Commitment Increase Agreement and Amendment No. 3 to Credit
Agreement

Rowan Companies, Inc. and Rowan Companies plc

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

AMEGY BANK N.A., as a Lender and an Increasing Lender By:  

/s/ G. Scott Collins

Name:  

G. Scott Collins

Title:  

Senior Vice President

 

Signature Page to Commitment Increase Agreement and Amendment No. 3 to Credit
Agreement

Rowan Companies, Inc. and Rowan Companies plc

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

BARCLAYS BANK PLC, as a Lender and an Increasing Lender By:  

/s/ Diane Rolfe

Name:  

Diane Rolfe

Title:  

Director

 

Signature Page to Commitment Increase Agreement and Amendment No. 3 to Credit
Agreement

Rowan Companies, Inc. and Rowan Companies plc

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

HSBC BANK USA, N.A., as a Lender and an Increasing Lender By:  

/s/ Koby West

Name:  

Koby West

Title:  

Assistant Vice President

 

Signature Page to Commitment Increase Agreement and Amendment No. 3 to Credit
Agreement

Rowan Companies, Inc. and Rowan Companies plc

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

MORGAN STANLEY BANK, N.A., as a Lender and an Increasing Lender By:  

/s/ Kelly Chin

Name:  

Kelly Chin

Title:  

Authorized Signatory

 

Signature Page to Commitment Increase Agreement and Amendment No. 3 to Credit
Agreement

Rowan Companies, Inc. and Rowan Companies plc

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

MIZUHO CORPORATE BANK, LTD., as the New Lender By:  

/s/ Leon Mo

Name:  

Leon Mo

Title:  

Authorized Signatory

 

Signature Page to Commitment Increase Agreement and Amendment No. 3 to Credit
Agreement

Rowan Companies, Inc. and Rowan Companies plc

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

MATERIAL SUBSIDIARY ACKNOWLEDGMENT AND REAFFIRMATION

Each of the undersigned (each, a “Material Subsidiary”) hereby (a) acknowledges
receipt of a copy of the foregoing Commitment Increase Agreement and Amendment
No. 3 to Credit Agreement dated as of December 4, 2012 (the “Amendment”) between
Rowan Companies, Inc., a Delaware corporation (“Rowan Delaware”), Rowan
Companies plc, an English public limited company (the “Parent” and together with
Rowan Delaware, each a “Borrower” and collectively, the “Borrowers”), the
Lenders party thereto, and Wells Fargo Bank, National Association, as an issuing
lender, as swing line lender, and as administrative agent for the Lenders (in
such capacity, the “Administrative Agent”) and (b) reaffirms its obligations
under the Material Subsidiary Guaranty (as defined in the Credit Agreement
referred to in the Amendment) to which it is a party.

 

ATLANTIC MARITIME SERVICES LLC, a Delaware limited liability company By:  

/s/ Melanie M. Trent

Melanie M. Trent, Secretary

RDC QATAR, INC.,

a Delaware corporation

By:  

/s/ Melanie M. Trent

Melanie M. Trent, Secretary

ROWAN FINANCE LLC,

a Delaware limited liability company

By:  

/s/ Melanie M. Trent

Melanie M. Trent, Secretary

 

Material Subsidiary Acknowledgement and Reaffirmation

Rowan Companies, Inc. and Rowan Companies plc

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

PARENT ACKNOWLEDGMENT AND REAFFIRMATION

The undersigned hereby (a) acknowledges receipt of a copy of the foregoing
Commitment Increase Agreement and Amendment No. 3 to Credit Agreement dated as
of December 4, 2012 (the “Amendment”) between Rowan Companies, Inc., a Delaware
corporation (“Rowan Delaware”), Rowan Companies plc, an English public limited
company (the “Parent” and together with Rowan Delaware, each a “Borrower” and
collectively, the “Borrowers”), the Lenders party thereto, and Wells Fargo Bank,
National Association, as an issuing lender, as swing line lender, and as
administrative agent for the Lenders (in such capacity, the “Administrative
Agent”) and (b) reaffirms its obligations under the Parent Guaranty (as defined
in the Credit Agreement referred to in the Amendment) to which it is a party.

 

ROWAN COMPANIES PLC, an English public limited company By:  

/s/ J. Kevin Bartol

J. Kevin Bartol, Executive Vice President, Chief Financial Officer and Treasurer

 

Parent Acknowledgement and Reaffirmation

Rowan Companies, Inc. and Rowan Companies plc

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

SCHEDULE II

Revolving Commitments

 

Lenders

   Revolving
Commitment  

Wells Fargo Bank, National Association

   $ 74,000,000.00   

Citibank, N.A.

   $ 74,000,000.00   

DNB Bank ASA

   $ 74,000,000.00   

Royal Bank of Canada

   $ 74,000,000.00   

Bank of America, N.A.

   $ 74,000,000.00   

Barclays Bank PLC

   $ 74,000,000.00   

Goldman Sachs Bank USA

   $ 74,000,000.00   

The Bank of Tokyo-Mitsubishi UFJ, Ltd.

   $ 54,000,000.00   

HSBC Bank USA, N.A.

   $ 54,000,000.00   

Mizuho Corporate Bank, Ltd.

   $ 54,000,000.00   

Morgan Stanley Bank, N.A.

   $ 40,000,000.00   

Amegy Bank N.A.

   $ 30,000,000.00      

 

 

 

TOTAL:

   $ 750,000,000.00      

 

 

 

 

Schedule II to Credit Agreement

Rowan Companies, Inc. and Rowan Companies plc