EXHIBIT 10.33(b)

Execution Version

SECOND AMENDMENT TO NOTE PURCHASE AND GUARANTEE AGREEMENT
This Second Amendment to Note Purchase and Guarantee Agreement (this
“Amendment”), dated as of December 29, 2016, is made by and among CHICAGO BRIDGE
& IRON COMPANY (DELAWARE), a Delaware corporation (the “Company”), CHICAGO
BRIDGE & IRON COMPANY N.V., a corporation incorporated under the laws of The
Netherlands (the “Parent Guarantor” and, together with the Company, the
“Obligors”), and each of the institutions set forth on the signature pages to
this Amendment (collectively, the “Noteholders”).
RECITALS:
A.    The Obligors and each of the Noteholders have heretofore entered into the
Note Purchase and Guarantee Agreement dated as of July 22, 2015 (as amended,
amended and restated, supplemented or otherwise modified, the “Note Purchase
Agreement”), pursuant to which the Company issued U.S. $200,000,000 aggregate
principal amount of its 4.53% Senior Notes, due July 30, 2025 (the “Notes”).
B.    The Obligors and the Noteholders now desire to amend the Note Purchase
Agreement in the respects, but only in the respects, hereinafter set forth.
C.    Capitalized terms used herein shall have the respective meanings ascribed
thereto in the Note Purchase Agreement unless herein defined or the context
shall otherwise require.
D.    All requirements of law have been fully complied with and all other acts
and things necessary to make this Amendment a valid, legal and binding
instrument according to its terms for the purposes herein expressed have been
done or performed.
NOW, THEREFORE, the Obligors and the Noteholders, in consideration of good and
valuable consideration the receipt and sufficiency of which is hereby
acknowledged, do hereby agree as follows:
SECTION 1.
AMENDMENTS TO NOTE PURCHASE AGREEMENT.

Subject to the terms and conditions set forth herein, the Note Purchase
Agreement (exclusive of Schedules thereto) is amended as follows:

-1-

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

(a)    Section 9.11 of the Note Purchase Agreement is hereby amended by:
(i)    amending and restating the second parenthetical in clause (a)(iii) of
Section 9.11 to read as follows:
(any such provision and any Restricted Payment Provisions described in clause
(e) below, in each case, together with all definitions and interpretive
provisions from such Credit Agreement to the extent used in relation thereto, a
“Most Favorable Covenant”)
and
(ii)    adding a new clause (e) to follow clause (d), which shall read as
follows:
(e) In addition to the foregoing, the Obligors agree that the “Restricted
Payments” covenants contained in each of the Credit Agreements are hereby
incorporated by reference into this Agreement, mutatis mutandis, as if set forth
in full herein, effective as of the Second Amendment Effective Date, and such
Restricted Payments covenants shall be deemed to constitute Incorporated
Covenants for purposes of this Section 9.11. Upon the request of any holder of a
Note, the Obligors shall enter into any additional agreement or amendment to
this Agreement reasonably requested by such holder to further evidence the
foregoing. In addition, the Most Favorable Covenants under this Section 9.11
shall include any covenant (whether constituting a covenant or event of default)
of an Obligor contained in any Credit Agreement from and after the Second
Amendment Effective Date that expressly and directly limits dividends or other
restricted payments (collectively, “Restricted Payment Provisions”), and all
rights and obligations set forth herein with respect to Most Favorable Covenants
shall apply equally thereto. For informational purposes only, the Restricted
Payments covenant contained in the Credit Agreements as of the Second Amendment
Effective Date is set forth on Exhibit A to the Second Amendment to this
Agreement.

-2-

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

(b)    Section 10.7 of the Note Purchase Agreement is hereby amended and
restated in its entirety to read as follows:
Section 10.7.    Leverage Ratio. The Parent Guarantor shall not permit the ratio
(the “Leverage Ratio”) of (i) all Adjusted Indebtedness of the Parent Guarantor
and its Subsidiaries as of any date of determination (but excluding Excluded JV
Indebtedness) to (ii) EBITDA for the most recently-ended period of four-fiscal
quarters for which financial statements were required to be delivered to exceed
the lesser of (a) 3.00:1.0 and (b) the level required to be maintained under a
similar leverage covenant contained in any Credit Agreement for such applicable
fiscal period. For purposes of this Section, if during the period of calculation
any Obligor or any Subsidiary shall have acquired or disposed of any Person or
acquired or disposed of all or substantially all of the operating assets of any
Person, EBITDA for such period shall be calculated after giving pro forma effect
thereto as if such transaction occurred on the first day of such period.
The Leverage Ratio shall be calculated as of the last day of each fiscal quarter
based upon (A) for Adjusted Indebtedness, Adjusted Indebtedness (but excluding
Excluded JV Indebtedness) as of the last day of each such fiscal quarter and
(B) for EBITDA, the actual amount for the four quarter period ending on such
day, calculated, with respect to acquisitions and disposals, if any, as provided
in the preceding paragraph.
SECTION 2.
AMENDMENTS TO DEFINED TERMS.

(a)    Schedule B to the Note Purchase Agreement is hereby amended by amending
and restating the following existing definitions to read as follows:
“Consolidated Net Income” means, for any period, the net income (or deficit) of
the Parent Guarantor and its Subsidiaries for such period, determined on a
consolidated basis in accordance with GAAP, but excluding in any event, without
duplication, (i) any extraordinary gain or loss (net of any tax effect), (ii)
cash distributions received by the Parent Guarantor or any Subsidiary from any
Eligible Joint Venture and (iii) net earnings of any Person (other than a

-3-

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

Subsidiary) in which the Parent Guarantor or any Subsidiary has an ownership
interest unless such net earnings shall have actually been received by the
Parent Guarantor or such Subsidiary in the form of cash distributions.
“Consolidated Net Income Available for Fixed Charges” means, for any period,
Consolidated Net Income plus, without duplication, to the extent deducted in
determining such Consolidated Net Income, (i) provisions for income taxes, (ii)
Consolidated Fixed Charges, (iii) to the extent not already included in
Consolidated Net Income, dividends and distributions actually received in cash
during such period from Persons that are not Subsidiaries of the Parent
Guarantor, (iv) retention bonuses paid to officers, directors and employees of
the Parent Guarantor and its Subsidiaries in connection with the Transaction not
to exceed $25,000,000, (v) any charges, fees and expenses incurred in connection
with the Transaction, the transactions related thereto, and any related issuance
of Indebtedness or equity, whether or not successful, (vi) charges, expenses and
losses incurred in connection with restructuring and integration activities in
connection with the Transaction, including in connection with closures of
certain facilities and termination of leases, (vii) non-cash compensation
expenses for management or employees to the extent deducted in computing
Consolidated Net Income, (viii) expenses incurred in connection with the Shaw
Acquisition and relating to termination and severance as to, or relocation of,
officers, directors and employees not exceeding $110,000,000, and (ix) equity
earnings booked or recognized by the Parent Guarantor or any of its Subsidiaries
from Eligible Joint Ventures not to exceed 15% of EBITDA of the Parent Guarantor
pursuant to clauses (i) through (ix) of the definition of EBITDA for such
period.
“EBITDA” means, for any period, on a consolidated basis for the Parent Guarantor
and its Subsidiaries, the sum of the amounts for such period, without
duplication, calculated in each case in accordance with GAAP, of (i) EBIT plus
(ii) depreciation expense to the extent deducted in computing Consolidated Net
Income, plus (iii) amortization expense, including, without limitation,
amortization of goodwill and other intangible assets to the extent deducted in
computing Consolidated Net Income, plus (iv) non-cash

-4-

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

compensation expenses for management or employees to the extent deducted in
computing Consolidated Net Income, plus (v) to the extent not already included
in Consolidated Net Income, dividends and distributions actually received in
cash during such period from Persons that are not Subsidiaries of the Parent
Guarantor, plus (vi) retention bonuses paid to officers, directors and employees
of the Parent Guarantor and its Subsidiaries in connection with the Transaction
not to exceed $25,000,000, plus (vii) any charges, fees and expenses incurred in
connection with the Transaction, the transactions related thereto, and any
related issuance of Indebtedness or equity, whether or not successful, plus
(viii) charges, expenses and losses incurred in connection with restructuring
and integration activities in connection with the Transaction, including in
connection with closures of certain facilities and termination of leases, plus
(ix) expenses incurred in connection with the Shaw Acquisition and relating to
termination and severance as to, or relocation of, officers, directors and
employees not exceeding $110,000,000, and plus (x) equity earnings booked or
recognized by the Parent Guarantor or any of its Subsidiaries from Eligible
Joint Ventures not to exceed 15% of EBITDA of the Parent Guarantor pursuant to
clauses (i) through (ix) of this definition for such period.
“Incorporated Covenant” is defined in Section 9.11(b).
(b)    Schedule B to the Note Purchase Agreement is hereby amended by adding the
following new definitions in their proper alphabetical order:
“Eligible Joint Venture” means, at each time of determination, a joint venture
of the Parent Guarantor or any of its Subsidiaries that has been designated as
such to the holders of the Notes (i) for which annual unaudited financial
statements and quarterly unaudited financial statements have been delivered to
the holders of the Notes, in each case such financial statements prepared in
accordance with GAAP, (ii) of which between a 20% and 50% interest in the
profits or capital thereof is owned by the Parent Guarantor or one or more of
its Subsidiaries, or the Parent Guarantor and one or more of its Subsidiaries,
(iii) for which the Eligible Joint Venture Leverage Ratio of such joint venture
is less than 1.00 to 1.00, and (iv) that is validly existing under the laws of
its jurisdiction of

-5-

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

organization or formation (or equivalent); provided, however, that there may not
be more than ten (10) designated Eligible Joint Ventures at any time.
“Eligible Joint Venture Consolidated Net Income” means, for any period, the net
income (or deficit) of any joint venture of the Parent Guarantor and its
Subsidiaries for such period, determined on a consolidated basis in accordance
with GAAP, but excluding in any event (i) any extraordinary gain or loss (net of
any tax effect) and (ii) net earnings of any Person (other than a Subsidiary) in
which such joint venture or any Subsidiary has an ownership interest unless such
net earnings shall have actually been received by such joint venture or such
Subsidiary in the form of cash distributions.
“Eligible Joint Venture EBITDA” means, for any period, for any joint venture of
the Parent Guarantor or any of its Subsidiaries, an amount equal to Eligible
Joint Venture Consolidated Net Income for such period plus, without duplication,
(i) the following to the extent deducted in calculating such Eligible Joint
Venture Consolidated Net Income: (a) Eligible Joint Venture Interest Charges for
such period, (b) the provision for federal, state, local and foreign income
taxes payable by such joint venture for such period, (c) depreciation and
amortization expense and (d) other non-recurring expenses of such joint venture
reducing such Eligible Joint Venture Consolidated Net Income which do not
represent a cash item in such period or any future period, and minus, without
duplication, (ii) the following to the extent included in calculating such
Eligible Joint Venture Consolidated Net Income: (a) federal, state, local and
foreign income tax credits of such joint venture for such period and (b) all
non-cash items increasing Eligible Joint Venture Consolidated Net Income for
such period.
“Eligible Joint Venture Interest Charges” means, for any period, for any joint
venture of the Parent Guarantor or any of its Subsidiaries, the sum of (i) all
interest, premium payments, debt discount, fees, charges and related expenses of
such joint venture in connection with borrowed money (including capitalized
interest) or in connection with the deferred purchase price of assets, in each
case to the extent treated as interest in accordance with GAAP, and (ii) the

-6-

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

portion of rent expense of such joint venture with respect to such period under
capital leases that is treated as interest in accordance with GAAP.
“Eligible Joint Venture Leverage Ratio” means, as of any date of determination,
for any joint venture of the Parent Guarantor, the ratio of (i) Indebtedness for
such joint venture of the Parent Guarantor or any of its Subsidiaries, on a
consolidated basis, to (ii) Eligible Joint Venture EBITDA for the period of the
four prior fiscal quarters ending on or most recently ended prior to such date.
“Excluded JV Indebtedness” means, at the time of any determination, Joint
Venture Indebtedness, provided that (i) the respective advancing joint venture
does not at the time of such determination have any outstanding Indebtedness
(other Indebtedness owing to a partner or co-venturer in such joint venture),
(ii) neither of the Obligors nor any Subsidiary guarantees any Indebtedness of
such joint venture, and (iii) Excluded JV Indebtedness shall not exceed
$1,000,000,000 at any one time, provided that Excluded JV Indebtedness may
exceed $1,000,000,000 so long as any amount in excess of $1,000,000,000
represents Joint Venture Indebtedness owed to a particular joint venture
(meeting the criteria in clauses (i) and (ii) above) and the indebted Company or
Subsidiary Guarantor, as applicable, has paid down such outstanding Joint
Venture Indebtedness to zero for at least two consecutive Business Days during
each period of 60 consecutive days from and after the Second Amendment Effective
Date.
“Joint Venture Indebtedness” shall mean unsecured Indebtedness of the Company or
any Subsidiary Guarantor owing to a joint venture in which the Company or any
Subsidiary Guarantor owns any interest.
“Second Amendment Effective Date” means December 29, 2016.
(c)    Schedule B to the Note Purchase Agreement is hereby amended by deleting
the definitions of “Mozambique Joint Venture,” “Mozambique Joint Venture
Consolidated Net

-7-

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

Income,” “Mozambique Joint Venture EBITDA,” “Mozambique Joint Venture Interest
Charges,” and “Mozambique Joint Venture Leverage Ratio.”
SECTION 3.
REPRESENTATIONS AND WARRANTIES OF THE OBLIGORS.

To induce the Noteholders to execute and deliver this Amendment (which
representations shall survive the execution and delivery of this Amendment),
each Obligor represents and warrants to the Noteholders that:
(a)    this Amendment has been duly authorized, executed and delivered by it and
this Amendment constitutes the legal, valid and binding obligation, contract and
agreement of such Obligor enforceable against it in accordance with its terms,
except as enforcement may be limited by bankruptcy, insolvency, reorganization,
moratorium or similar laws or equitable principles relating to or limiting
creditors’ rights generally;
(b)    the Note Purchase Agreement, as amended by this Amendment, constitutes
the legal, valid and binding obligation, contract and agreement of such Obligor
enforceable against it in accordance with its terms, except as enforcement may
be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws
or equitable principles relating to or limiting creditors’ rights generally;
(c)    the execution, delivery and performance by such Obligor of this Amendment
(i) has been duly authorized by all requisite corporate action and, if required,
shareholder action, (ii) does not require the consent or approval of any
governmental or regulatory body or agency, and (iii) will not (A) violate
(1) any provision of law, statute, rule or regulation or its certificate of
incorporation or bylaws, (2) any order of any court or any rule, regulation or
order of any other agency or government binding upon it, or (3) any provision of
any indenture, agreement or other instrument to which it is a party or by which
its properties or assets are or may be bound, including, without limitation, any
Credit Agreement, or (B) result in a breach or constitute (alone or with due
notice or lapse of time or both) a default under any indenture, agreement or
other instrument referred to in clause (iii)(A)(3) of this Section 3(c);
(d)    as of the date hereof immediately prior to and after giving effect to
this Amendment, no Default or Event of Default has occurred which is continuing;
(e)    no amendment or modification of any outstanding Credit Agreement that
addresses the subject matter of this Amendment is being entered into by the
Obligors on or about the date of this Amendment or is currently contemplated by
the Obligors; and

-8-

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

(f)    all of the representations and warranties contained in Section 5 of the
Note Purchase Agreement are true and correct in all material respects (in all
respects in the case of representations and warranties qualified by materiality,
Material Adverse Effect or similar language in the text thereof) with the same
force and effect as if made by such Obligor on and as of the date hereof, except
to the extent that such representations and warranties expressly relate solely
to an earlier date or due solely as a result of actions taken by the Obligors in
accordance with the covenants set forth in the Note Purchase Agreement.
SECTION 4.
EFFECTIVENESS; CONDITIONS PRECEDENT.

This Amendment and the amendments to the Note Purchase Agreement provided in
Sections 1 and 2 hereof shall be effective as of the date first written above
upon the satisfaction of the following conditions precedent:
(a)    executed counterparts of this Amendment, duly executed by the Obligors
and the holders of not less than 51% of the outstanding principal of the Notes
and consented to by the Subsidiary Guarantors shall have been delivered to the
Noteholders;
(b)    the representations and warranties of the Obligors set forth in Section 3
hereof are true and correct on and with respect to the date hereof;
(c)    the Obligors shall have paid the fees and expenses of Chapman and Cutler
LLP, counsel to the Noteholders in connection with the negotiation, preparation,
approval, execution and delivery of this Amendment; and
(d)    each holder (as such term is defined in the Note Purchase Agreement) of a
Note shall have received a fee in an amount equal to five basis points (5 bps)
on the aggregate outstanding principal amount of each Note held by such holder.
SECTION 5.
MISCELLANEOUS.

(a)    This Amendment shall be construed in connection with and as part of the
Note Purchase Agreement, and except as modified and expressly amended by this
Amendment, all terms, conditions and covenants contained in the Note Purchase
Agreement and the Notes are hereby ratified and shall be and remain in full
force and effect.
(b)    Each Subsidiary Guarantor (i) acknowledges and consents to all of the
terms and conditions of this Amendment, (ii) affirms all of its obligations
under its Subsidiary Guarantee, and (iii) agrees that this Amendment and all
documents delivered in connection herewith do not operate

-9-

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

to reduce or discharge its obligations under the Note Purchase Agreement or its
Subsidiary Guarantee.
(c)    Any and all notices, requests, certificates and other instruments
executed and delivered after the execution and delivery of this Amendment may
refer to the Note Purchase Agreement without making specific reference to this
Amendment but nevertheless all such references shall include this Amendment
unless the context otherwise requires.
(d)    The descriptive headings of the various Sections or parts of this
Amendment are for convenience only and shall not affect the meaning or
construction of any of the provisions hereof.
(e)    This Amendment shall be governed by and construed in accordance with New
York law.
[Signature pages follow.]

-10-

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

IN WITNESS WHEREOF, the undersigned has duly executed this Amendment as of the
date first written above.
CHICAGO BRIDGE & IRON COMPANY N.V., as the Parent Guarantor
By: CHICAGO BRIDGE & IRON COMPANY B.V., as its Managing Director
 
By:
 
  /s/ Michael S. Taff  
 
 
Name:
 
Michael S. Taff
 
 
Title:
 
Authorized Signatory

 

[Signature to Second Amendment to 2015 Note Purchase Agreement]

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

 
 
 
 
 
CHICAGO BRIDGE & IRON COMPANY, a Delaware corporation
 
 
 
By:
 
/s/ Michael S. Taff
 
 
 
Name:
 
Michael S. Taff
 
 
 
Title:
 
Authorized Signatory
 
 
 
CHICAGO BRIDGE & IRON COMPANY (DELAWARE)
 
 
 
By:
 
/s/ Michael S. Taff
 
 
 
Name:
 
Michael S. Taff
 
 
 
Title:
 
Authorized Signatory
 
 
 
CB&I TYLER COMPANY
 
 
 
 
By:
 
/s/ Luciano Reyes
 
 
 
Name:
 
Luciano Reyes
 
 
 
Title:
 
Treasurer
 
 
 
CB&I, LLC
 
 
 
 
By:
 
 /s/ Michael S. Taff
 
 
 
Name:
 
Michael S. Taff
 
 
 
Title:
 
Authorized Signatory
 

 
CHICAGO BRIDGE & IRON COMPANY, an Illinois corporation

By:
 
/s/ Luciano Reyes
 
 
 
Name:
 Luciano Reyes
 
 
 
Title:
 Treasurer
 
 
 
A&B BUILDERS, LTD.
 
 
 
 
By:
 
/s/ Luciano Reyes
 
 
 
Name:
 
Luciano Reyes
 
 
 
Title:
 
Treasurer
 
 
 
ASIA PACIFIC SUPPLY COMPANY
 
 
 
 
By:
 
/s/ Luciano Reyes
 
 
 
Name:
 
Luciano Reyes
 
 
 
Title:
 
Treasurer
 

[Signature to Second Amendment to 2015 Note Purchase Agreement]

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

CBI AMERICAS LTD.
 
 
By:
 
/s/ Luciano Reyes
 
 
Name:
 
Luciano Reyes
 
 
Title:
 
Treasurer
 
CSA TRADING COMPANY, LTD.
 
 
By:
 
/s/ Luciano Reyes
 
 
Name:
 
Luciano Reyes
 
 
Title:
 
Treasurer
 
CB&I WOODLANDS L.L.C.
 
 
By:
 
/s/ Luciano Reyes
 
 
Name:
 
Luciano Reyes
 
 
Title:
 
Treasurer
 
CBI COMPANY LTD.
 
 
By:
 
/s/ Luciano Reyes
 
 
Name:
 
Luciano Reyes
 
 
Title:
 
Treasurer
 
CENTRAL TRADING COMPANY, LTD.
 
 
By:
 
/s/ Luciano Reyes
 
 
Name:
 
Luciano Reyes
 
 
Title:
 
Treasurer

CONSTRUCTORS INTERNATIONAL, L.L.C.

By:
 
/s/ Luciano Reyes
 
 
Name:
 
Luciano Reyes
 
 
Title:
 
Treasurer
 
HBI HOLDINGS, L.L.C.
 
 
By:
 
/s/ Luciano Reyes
 
 
Name:
 
Luciano Reyes
 
 
Title:
 
Treasurer

HOWE-BAKER INTERNATIONAL, L.L.C.

By:
 
/s/ Luciano Reyes
 
 
Name:
 
Luciano Reyes
 
 
Title:
 
Treasurer

[Signature to Second Amendment to 2015 Note Purchase Agreement]

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

HOWE-BAKER ENGINEERS, LTD.
 
 
By:
 
 /s/ Luciano Reyes
 
 
Name:
 
Luciano Reyes
 
 
Title:
 
Treasurer
 
HOWE-BAKER HOLDINGS, L.L.C.
 
 
By:
 
/s/ Luciano Reyes
 
 
Name:
 
Luciano Reyes
 
 
Title:
 
Treasurer
 
HOWE-BAKER MANAGEMENT, L.L.C.
 
 
By:
 
/s/ Luciano Reyes
 
 
Name:
 
Luciano Reyes
 
 
Title:
 
Treasurer

HOWE-BAKER INTERNATIONAL MANAGEMENT L.L.C.

By:
 
/s/ Luciano Reyes
 
 
Name:
 
Luciano Reyes
 
 
Title:
 
Treasurer

MATRIX ENGINEERING, LTD.

By:
 
/s/ Luciano Reyes
 
 
Name:
 
Luciano Reyes
 
 
Title:
 
Treasurer

MATRIX MANAGEMENT SERVICES, L.L.C.

By:
 
/s/ Luciano Reyes
 
 
Name:
 
Luciano Reyes
 
 
Title:
 
Treasurer
 
 
 
 
 
OCEANIC CONTRACTORS, INC.
 
 
By:
 
 /s/ Luciano Reyes
 
 
Name:
 
Luciano Reyes
 
 
Title:
 
Treasurer
 
CBI VENEZOLANA, S.A.
 
 
By:
 
/s/ Rui Orlando Gomes
 
 
Name:
 
Rui Orlando Gomes
 
 
Title:
 
Treasurer

[Signature to Second Amendment to 2015 Note Purchase Agreement]

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

CBI MONTAJES DE CHILE LIMITADA
 
 
By:
 
/s/ Rui Orlando Gomes
 
 
Name:
 
Rui Orlando Gomes
 
 
Title:
 
Director/Legal Representative
 
CB&I EUROPE B.V.
 
 
By:
 
/s/ Raymond Buckley
 
 
Name:
 
Raymond Buckley
 
 
Title:
 
Director
 
CBI EASTERN ANSTALT
 
 
By:
 
/s/ Raymond Buckley
 
 
Name:
 
Raymond Buckley
 
 
Title:
 
Director

CB&I POWER COMPANY B.V.
(f/k/a/ CMP HOLDINGS B.V.)

By:
 
 /s/ Raymond Buckley
 
 
 
Name:
 
Raymond Buckley
 
 
 
Title:
 
Director
 
 
 
 
 
 
 
CBI CONSTRUCTORS PTY LTD
 
 
 
 By:
/s/ Ian Michael Bendesh
 
 
Name:
 
Ian Michael Bendesh
 
 
Title:
 
Director
 

CBI ENGINEERING AND CONSTRUCTION
CONSULTANT (SHANGHAI) CO. LTD.
 
 
 
 
By:
 
/s/ Raymond Buckley
 
 
 
Name:
 Raymond Buckley
 
 
 
Title:
 Chairman
 
 
 
CBI (PHILIPPINES), INC.
 
 
 
 
By:
 
/s/ Douglas A. Willard
 
 
 
Name:
Douglas A. Willard
 
 
 
Title:
President
 
 
 
CBI OVERSEAS, LLC
 
By:
 
/s/ Regina N. Hamilton
 
 
 
Name:
Regina N. Hamilton
 
 
 
Title:
 Secretary
 

[Signature to Second Amendment to 2015 Note Purchase Agreement]

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

CB&I CONSTRUCTORS LIMITED
 
 
By:
 
/s/ Kevin J. Forder
 
 
Name:
 
Kevin J. Forder
 
 
Title:
 
Director
 
CB&I HOLDINGS (U.K.) LIMITED
 
 
By:
 
/s/ Kevin J. Forder
 
 
Name:
 
Kevin J. Forder
 
 
Title:
 
Director
 
CB&I UK LIMITED
 
 
By:
 
/s/ Kevin J. Forder
 
 
Name:
 
Kevin J. Forder
 
 
Title:
 
Director
 
CB&I MALTA LIMITED
 
 
By:
 
/s/ Duncan Wigney
 
 
Name:
 
Duncan Wigney
 
 
Title:
 
Director
 
LUTECH RESOURCES LIMITED
 
 
By:
 
/s/ Jonathan Stephenson
 
 
Name:
 
Jonathan Stephenson
 
 
Title:
 
Secretary

NETHERLANDS OPERATING COMPANY B.V.

By:
 
/s/ H.M. Koese
 
 
Name:
 
H. M. Koese
 
 
Title:
 
Director
 
 
 
 
 
CBI NEDERLAND B.V.
 
 
By:
 
/s/ Ashok Joshi
 
 
Name:
 
Ashok Joshi
 
 
Title:
 
Director

[Signature to Second Amendment to 2015 Note Purchase Agreement]

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

ARABIAN GULF MATERIAL SUPPLY COMPANY, LTD.

By:
 
/s/ Luciano Reyes
 
 
Name:
 
Luciano Reyes
 
 
Title:
 
Director

PACIFIC RIM MATERIAL SUPPLY COMPANY, LTD.

By:
 
/s/ Luciano Reyes
 
 
Name:
 
Luciano Reyes
 
 
Title:
 
Director

SOUTHERN TROPIC MATERIAL SUPPLY COMPANY, LTD.

By:
 
/s/ Luciano Reyes
 
 
Name:
 
Luciano Reyes
 
 
Title:
 
Director

CHICAGO BRIDGE & IRON (ANTILLES) N.V.

 
 
By:
 
/s/ Michael S. Taff
 
 
Name:
 
Michael S. Taff
 
 
Title:
 
Managing Director

LUMMUS TECHNOLOGY HEAT TRANSFER B.V.

By:
 
/s/ John R. Albanese, Jr.
 
 
 
Name:
 
John R. Albanese, Jr.
 
 
 
Title:
 
Director
 
 
 
LEALAND FINANCE COMPANY B.V.
 
 
 
 
By:
 
/s/ Michael S. Taff
 
 
 
Name:
 
Michael S. Taff
 
 
 
Title:
 
Managing Director
 
 
 
 
 
 
CB&I FINANCE COMPANY LIMITED
 
 
By:
 
/s/ Kevin J. Forder
 
 
Name:
 
Kevin J. Forder
 
 
Title:
 
Director
 
CB&I OIL & GAS EUROPE B.V.
 
 
By:
 
/s/ Michael S. Taff
 
 
Name:
 
Michael S. Taff
 
 
Title:
 
Managing Director

[Signature to Second Amendment to 2015 Note Purchase Agreement]

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

CBI COLOMBIANA S.A.
 
 
By:
 
/s/ Michael S. Taff
 
 
Name:
 
Michael S. Taff
 
 
Title:
 
Director

CHICAGO BRIDGE & IRON COMPANY B.V.

By:
 
/s/ Michael S. Taff
 
 
Name:
 
Michael S. Taff
 
 
Title:
 
Managing Director

LUMMUS INTERNATIONAL CORPORATION

By:
 
/s/ John R. Albanese, Jr.
 
 
Name:
 
John R. Albanese, Jr.
 
 
Title:
 
Vice President – Finance – Treasurer
 
HUA LU ENGINEERING CO., LTD.
 
 
By:
 
 /s/ John R. Albanese, Jr.
 
 
Name:
 
John R. Albanese, Jr.
 
 
Title:
 
Director

CB&I TECHNOLOGY VENTURES, INC.
(f/k/a LUMMUS CATALYST COMPANY LTD.)

By:
 
/s/ John R. Albanese, Jr.
 
 
Name:
 
John R. Albanese, Jr.
 
 
Title:
 
Vice President & Treasurer
 
 
 
 
 
 
LUMMUS OVERSEAS CORPORATION
 
 
 
 
By:
 
 /s/ John R. Albanese, Jr.
 
 
 
Name:
 
John R. Albanese, Jr.
 
 
 
Title:
 
Vice President & Treasurer
 

CATALYTIC DISTILLATION TECHNOLOGIES

By:
 
 /s/ John R. Albanese, Jr.
 
 
Name:
 
John R. Albanese, Jr.
 
 
Title:
 
Management Committee Member

[Signature to Second Amendment to 2015 Note Purchase Agreement]

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

LUMMUS TECHNOLOGY, INC.
 
 
By:
 
 /s/ John R. Albanese, Jr.
 
 
Name:
 
John R. Albanese, Jr.
 
 
Title:
 
CFO & Treasurer
 
CBI SERVICES, LLC
 
 
By:
 
/s/ Joshua A. Decuir
 
 
Name:
 
Joshua A. Decuir
 
 
Title:
 
Assistant Secretary

WOODLANDS INTERNATIONAL INSURANCE COMPANY

By:
 
 /s/ Robert Havlick
 
 
Name:
 
Robert Havlick
 
 
Title:
 
Director

CB&I HUNGARY HOLDING LIMITED LIABILITY COMPANY

By:
 
 /s/ William G. Lamb
 
 
Name:
 
William G. Lamb
 
 
Title:
 
Director

LUMMUS NOVOLEN TECHNOLOGY GMBH

By:
 
 /s/ Godofredo Follmer
 
 
Name:
 
Godofredo Follmer
 
 
Title:
 
Managing Director
 
 
 
 
 
CB&I LUMMUS GMBH
 
 
By:
 
 /s/ Andreas Schwarzhaupt
 
 
Name:
 
Andreas Schwarzhaupt
 
 
Title:
 
Managing Director
 
CB&I S.R.O.
 
 
By:
 
 /s/ Jiri Gregor
 
 
Name:
 
Jiri Gregor
 
 
Title:
 
Managing Director
 
CBI PERUANA S.A.C.
 
 
By:
 
 /s/ James E. Bishop
 
 
Name:
 
James E. Bishop
 
 
Title:
 
General Manager

[Signature to Second Amendment to 2015 Note Purchase Agreement]

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

HORTON CBI, LIMITED
 
 
By:
 
 /s/ James M. Brewer
 
 
Name:
 
James M. Brewer
 
 
Title:
 
Director
 
CB&I (NIGERIA) LIMITED
 
 
By:
 
/s/ Douglas Arthur Willard
 
 
Name:
 
Douglas Arthur Willard
 
 
Title:
 
Director
 
CB&I SINGAPORE PTE LTD.
 
 
By:
 
/s/ Michael S. Taff
 
 
Name:
 
Michael S. Taff
 
 
Title:
 
Director
 
CB&I NORTH CAROLINA, INC.
 
 
By:
 
/s/ Luciano Reyes
 
 
Name:
 
Luciano Reyes
 
 
Title:
 
Director

SHAW ALLOY PIPING PRODUCTS, LLC

By:
 
/s/ Luciano Reyes
 
 
Name:
 
Luciano Reyes
 
 
Title:
 
Manager
 
CB&I Walker LA, L.L.C.
 
 
By:
 
/s/ Luciano Reyes
 
 
Name:
 
Luciano Reyes
 
 
Title:
 
Manager

CB&I ENVIRONMENTAL & INFRASTRUCTURE, INC.
(f/k/a SHAW ENVIRONMENTAL, INC.)

By:
 
/s/ Luciano Reyes
 
 
Name:
 
Luciano Reyes
 
 
Title:
 
Director

[Signature to Second Amendment to 2015 Note Purchase Agreement]

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

CB&I OVERSEAS (FAR EAST) LTD.
 
 
 
 
 
 
 
 
By:
 
 /s/ William G. Lamb
 
 
 
 
 
Name:
 
William G. Lamb
 
 
 
 
 
Title:
 
Director
 
 
 
 
 
 
 
THE SHAW GROUP INC.
 
 
 
 
 
 
 
 
By:
 
/s/ Luciano Reyes
 
 
 
 
 
Name:
 
Luciano Reyes
 
 
 
 
 
Title:
 
Treasurer
 
 
 
 
LUMMUS GASIFICATION TECHNOLOGY LICENSING COMPANY
 
 
 
 
 
By:
 
/s/ John R. Albanese, Jr.
 
 
 
 
 
Name:
 
John R. Albanese, Jr.
 
 
 
 
 
Title:
 
Director
 
 
 
 
 
 
 
CB&I LAURENS, INC.
 
 
 
 
 
 
 
 
By:
 
 /s/ William G. Lamb
 
 
 
 
 
Name:
 
William G. Lamb
 
 
 
 
 
Title:
 
Vice President – Global Tax
 
 
 
 
 
 
 
CB&I GOVERNMENT SOLUTIONS, INC.
 
 
 
 
 
 
 
By:
 
/s/ Luciano Reyes
 
 
 
 
 
Name:
 
Luciano Reyes
 
 
 
 
 
Title:
 
Director
 
 
 
 
 
 
 
SHAW SSS FABRICATORS, INC.
 
 
 
 
 
 
 
 
By:
 
/s/ Luciano Reyes
 
 
 
 
 
Name:
 
Luciano Reyes
 
 
 
 
 
Title:
 
Treasurer
 
 
 
 
 
CHICAGO BRIDGE & IRON COMPANY (NETHERLANDS)
 
 
 
 
 
 
By:
 
/s/ Regina N. Hamilton
 
 
 
 
 
Name:
 
Regina N. Hamilton
 
 
 
 
 
Title:
 
Secretary
 
 
 
 
 
 
 
 
 
 
 
CBI US HOLDING COMPANY, INC
 
 
 
 
 
 
 
 
By:
 
/s/ Regina N. Hamilton
 
 
 
 
 
Name:
 
Regina N. Hamilton
 
 
 
 
 
Title:
 
Secretary
 
 
 
 
 
 
 
 
 
 
 

[Signature to Second Amendment to 2015 Note Purchase Agreement]

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

CBI HOLDCO TWO, INC
 
 
 
 
 
 
 
 
By:
 
/s/ Regina N. Hamilton
 
 
 
 
 
Name:
 
Regina N. Hamilton
 
 
 
 
 
Title:
 
Secretary
 
 
 
 
 
 
 
 
 
 
 
CBI COMPANY BV
 
 
 
 
 
 
 
 
By:
 
 /s/Ashok Joshi
 
 
 
 
 
Name:
 
Ashok Joshi
 
 
 
 
 
Title:
 
Director
 
 
 

[Signature to Second Amendment to 2015 Note Purchase Agreement]

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

This Amendment is hereby
accepted and agreed to as
of the date thereof.

THE GIBRALTAR LIFE INSURANCE CO., LTD.

By: Prudential Investment Management Japan Co., Ltd., as Investment Manager

By: PGIM, Inc., as Sub-Adviser

By: /s/ Chris J.
Vice President

We acknowledge that The Gibraltar Life Insurance Co., Ltd. holds $34,000,000.00
of the Notes.

THE PRUDENTIAL INSURANCE COMPANY
OF AMERICA

By: /s/ Chris J.
Vice President

We acknowledge that The Prudential Insurance Company of America holds
$24,150,000.00 of the Notes.

PRUDENTIAL RETIREMENT GUARANTEED
COST BUSINESS TRUST

By: PGIM, Inc., as investment manager

By: /s/ Chris J.
Vice President

We acknowledge that Prudential Retirement Guaranteed Cost Business Trust holds
$1,000,000.00 of the Notes.

[Signature to Second Amendment to 2015 Note Purchase Agreement]

Chicago Bridge & Iron Company (Delaware)
Chicago Bridge & Iron Company N.V.

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

This Amendment is hereby
accepted and agreed to as
of the date thereof.

FARMERS INSURANCE EXCHANGE

By: Prudential Private Placement Investors, L.P.
(as Investment Advisor)

By: Prudential Private Placement Investors, Inc.
(as its General Partner)

By: /s/ Chris J.
Vice President

We acknowledge that Farmers Insurance Exchange holds $7,595,000.00 of the Notes.

MID CENTURY INSURANCE COMPANY

By: Prudential Private Placement Investors, L.P.
(as Investment Advisor)

By: Prudential Private Placement Investors, Inc.
(as its General Partner)

By: /s/ Chris J.
Vice President

We acknowledge that Mid Century Insurance Company holds $3,255,000.00 of the
Notes.

[Signature to Second Amendment to 2015 Note Purchase Agreement]

Chicago Bridge & Iron Company (Delaware)
Chicago Bridge & Iron Company N.V.

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

This Amendment is hereby
accepted and agreed to as
of the date thereof.

METROPOLITAN LIFE INSURANCE COMPANY

NEW ENGLAND LIFE INSURANCE COMPANY
by Metropolitan Life Insurance Company, Its Investment Manager

By: /s/ John A. Willis____________________________
Name: John A. Wills
Title: Managing Director

We acknowledge that Metropolitan Life Insurance Company holds $17,800,000.00 of
the Notes.

We acknowledge that New England Life Insurance Company holds $4,600,000.00 of
the Notes.

METLIFE INSURANCE K.K.
by MetLife Investment Advisors, LLC, Its Investment Manager

SYMETRA LIFE INSURANCE COMPANY
by MetLife Investment Advisors, LLC, Its Investment Manager

By: /s/ C. Scott Inglis____________________________
Name: C. Scott Inglis
Title: Managing Director

We acknowledge that Metlife Insurance K.K. holds $4,600,000.00 of the Notes.

We acknowledge that Symetra Life Insurance Company holds $9,000,000.00 of the
Notes.

[Signature to Second Amendment to 2015 Note Purchase Agreement]

Chicago Bridge & Iron Company (Delaware)
Chicago Bridge & Iron Company N.V.

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

This Amendment is hereby
accepted and agreed to as
of the date thereof.

THE LINCOLN NATIONAL LIFE INSURANCE COMPANY

By:
Delaware Investment Advisers,
a series of Delaware Management Business Trust, Attorney in Fact

By: /s/ Karl Spaeth
Name: Karl Spaeth
Title: Vice President

We acknowledge that The Lincoln National Life Insurance Company holds
$33,000,000 of the Notes.

[Signature to Second Amendment to 2015 Note Purchase Agreement]

Chicago Bridge & Iron Company (Delaware)
Chicago Bridge & Iron Company N.V.

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

This Amendment is hereby
accepted and agreed to as
of the date thereof.

THE GUARDIAN LIFE INSURANCE COMPANY OF AMERICA

By
: /s/ Thomas M. Donohue

Name:    Thomas M. Donohue
Title:    Managing Director

We acknowledge that The Guardian Life Insurance Company of America holds
$25,000,000 of the Notes.

[Signature to Second Amendment to 2015 Note Purchase Agreement]

Chicago Bridge & Iron Company (Delaware)
Chicago Bridge & Iron Company N.V.

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

This Amendment is hereby
accepted and agreed to as
of the date thereof.    

GENWORTH LIFE AND ANNUITY INSURANCE COMPANY
GENWORTH LIFE INSURANCE COMPANY OF NEW YORK

By
: /s/ Eric M. Boyd

Name: Eric M. Boyd
Title: Investment Officer

We acknowledge that Genworth Life and Annuity Insurance Company holds $13
Million of the Notes and that Genworth Life Insurance Company of New York holds
$2 Million of the Notes.

[Signature to Second Amendment to 2015 Note Purchase Agreement]

Chicago Bridge & Iron Company (Delaware)
Chicago Bridge & Iron Company N.V.

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

This Amendment is hereby
accepted and agreed to as
of the date thereof.

SOUTHERN FARM BUREAU LIFE INSURANCE COMPANY

By
: /s/ David Divine

Name: David Divine
Title: Senior Portfolio Manager

We acknowledge that Southern Farm Bureau Life Insurance Company holds
$10,000,000 of the Notes.

[Signature to Second Amendment to 2015 Note Purchase Agreement]

Chicago Bridge & Iron Company (Delaware)
Chicago Bridge & Iron Company N.V.

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

This Amendment is hereby
accepted and agreed to as
of the date thereof.

AMERICAN FAMILY LIFE INSURANCE COMPANY

By
: /s/ David L. Voge

Name: David L. Voge
Title: Fixed Income Portfolio Manager

We acknowledge that American Family Life Insurance Company holds $5,000,000 of
the Notes.

[Signature to Second Amendment to 2015 Note Purchase Agreement]

Chicago Bridge & Iron Company (Delaware)
Chicago Bridge & Iron Company N.V.

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

This Amendment is hereby
accepted and agreed to as
of the date thereof.

ASSURITY LIFE INSURANCE COMPANY

By /s/ Victor Weber
Name: Victor Weber
Title: Senior Director - Investments

We acknowledge that Assurity Life Insurance Company holds $3,000,000 of the
Notes.

[Signature to Second Amendment to 2015 Note Purchase Agreement]

Chicago Bridge & Iron Company (Delaware)
Chicago Bridge & Iron Company N.V.

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

This Amendment is hereby
accepted and agreed to as
of the date thereof.

CMFG LIFE INSURANCE COMPANY

By: MEMBERS Capital Advisors, Inc.
acting as Investment Advisor

By
/s/ Jason Micks

Name: Jason Micks
Title: Director, Investments

We acknowledge that CMFG Life Insurance Company holds $3,000,000 of the Notes.

[Signature to Second Amendment to 2015 Note Purchase Agreement]

Chicago Bridge & Iron Company (Delaware)
Chicago Bridge & Iron Company N.V.

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

EXHIBIT A

(Restricted Payments Covenant in Credit Agreements
as in effect on Second Amendment Effective Date)

Restricted Payments. The Company shall not, nor shall it permit any Subsidiary
to, declare, make or pay any Restricted Payments in excess of $250,000,000 in
the aggregate during any period of twelve (12) consecutive months, other than
(a) permitted Restricted Payments listed on Schedule 7.17, (b) payments and
prepayments of debt permitted by Section 7.01(j), (c) payments and prepayments
of the Transaction Facilities, (d) any Subsidiary may declare and pay dividends
ratably with respect to its Equity Interests and (e) other Restricted Payments
so long as when each such Restricted Payment is made, on a pro forma basis, the
Leverage Ratio of the Company and its Subsidiaries for the most recently-ended
period of four-fiscal quarters shall be less than 1.50 to 1.00.

Note: Capitalized terms used in this Exhibit have the meanings ascribed to them
in the applicable Credit Agreement and, with respect to the Term Facility,
references to Schedule 7.17 and Section 7.01(j) above are to Schedule 7.3(s) and
Section 7.3(a)(x), respectively.