Document:

EX-10.1

 Exhibit 10.1 

Execution Version 

SEPARATION AGREEMENT 

This Separation Agreement (this “Agreement”) is entered into by and between, and shall inure to the benefit of and be binding
upon, the following parties: 
 STEPHEN L. ALLEN, hereinafter referred to as “Employee”; and 

MCDERMOTT, INC., a Delaware corporation, hereinafter referred to as the “Company.” 

W I T N E S S E T H: 

WHEREAS, Employee is currently an employee of the Company; 

WHEREAS, pursuant to a resignation letter in the form attached hereto as Exhibit A, Employee has tendered to McDermott International, Inc., a
Panamanian corporation of which the Company is a wholly owned subsidiary (“MII”), Employee’s resignation from all positions held as an officer, employee, member of the board of directors or board of managers (and member of any
and all committees thereof), of MII and its subsidiaries and joint venture entities, and from any and all positions or capacities with respect to any employee benefit plan sponsored or maintained by any such entity, effective July 1, 2016 (the
“Resignation Date”); and 
 WHEREAS, Employee and the Company mutually desire to establish and agree on the terms and
conditions of Employee’s separation from service; 
 NOW, THEREFORE, in consideration of the premises and the mutual agreements,
covenants and obligations set forth herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, Employee and the Company hereby agree as follows: 

Section 1. Termination Date and Type. For purposes of interpreting and applying the provisions of compensation arrangements and
employee benefit plans of MII or any of its subsidiaries (including the Company) applicable to Employee and subject to Section 2 hereof, (a) Employee’s date of termination shall be the Resignation Date, (b) Employee’s
termination of employment is voluntary by Employee and not by the Company, and (c) subject to complying with the requirements of this Agreement, Employee shall be entitled to the compensation and benefits provided in this Agreement. 

Section 2. Severance Benefits and Payments. Subject to the execution of this Agreement by Employee and the lapse of the seven
(7) day revocation period referenced in Section 7 hereof (the “Revocation Period”) without revocation of the Agreement or any part hereof by Employee, Employee shall be entitled to receive the following payments and
benefits, to which Employee would not otherwise be entitled, subject to the terms and conditions set forth in this Agreement: 

(a) In a lump-sum payment to be paid three days after the end of the Revocation Period, six months of Employee’s current
base salary pay; 

 (b) An amount of 2016 bonus in the sole discretion of the Compensation Committee
of the Board of Directors of MII based on actual performance results for 2016, prorated for the actual length of Employee’s 2016 service and to be paid at the time MII or the Company, as applicable, pays its senior executive officers 2016
bonuses; 
 (c)     (i) The currently outstanding portion of the March 6, 2014 award of MII
restricted stock units (“RSUs”) granted to Employee under the 2009 McDermott International, Inc. Long Term Incentive Plan (the “2009 MII LTIP”), 

         (ii) the currently outstanding portion of the March 5, 2015 award
of RSUs granted to Employee under the 2014 McDermott International, Inc. Long Term Incentive Plan (the “2014 MII LTIP”), 

         (iii) the currently outstanding portion of the February 26, 2016
award of RSUs granted to Employee under the 2014 MII LTIP, with the number of RSUs that would otherwise vest and settle prorated based on the number of days beginning on January 1, 2016 and ending on July 1, 2016, 

which would, absent Employee’s termination of employment, remain outstanding and, to the extent applicable, continue to vest during the
period from the Resignation Date through March 15, 2017 shall remain in full force and effect and, to the extent applicable and subject to Employee’s continued performance of consulting services pursuant to Section 4(d) (other than as
a result of Employee’s death or disability), shall become vested and shall be settled on the date such award would otherwise be settled in accordance with the terms of the 2009 MII LTIP or the 2014 MII LTIP and the applicable grant agreement if
Employee’s employment had continued through March 15, 2017. 
 (d) the currently outstanding portion of the
May 12, 2014 award of RSUs granted to Employee under the 2014 MII LTIP which would, absent Employee’s termination of employment, remain outstanding and, to the extent applicable, continue to vest during the period from the Resignation Date
through May 15, 2017 shall remain in full force and effect and, to the extent applicable and subject to Employee’s continued performance of consulting services pursuant to Section 4(d) (other than as a result of Employee’s death
or disability), shall become vested and shall be settled on the date such award would otherwise be settled in accordance with the terms of the 2014 MII LTIP and the applicable grant agreement if Employee’s employment had continued through
May 15, 2017. 
 (e)     (i) The currently outstanding portion of the May 12, 2014 award
of performance shares granted to Employee under the 2014 MII LTIP which would, absent Employee’s termination of employment become vested after the Resignation Date and through May 15, 2017 shall remain in full force and effect and, to the
extent applicable and subject to Employee’s continued performance of consulting services pursuant to Section 4(d) (other than as a result of Employee’s death or disability), continue to vest and shall be settled in accordance with the
terms of the 2014 MII LTIP and applicable grant agreement as if Employee’s employment had continued through May 15, 2017, with the number of performance shares that would otherwise vest and settle prorated based on the number of days
beginning on January 1, 2014 and ending on July 1, 2016 relative to the total number of days in the performance period (i.e., 913/1095), and 

  
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          (ii) the currently
outstanding portion of the March 5, 2015 award of performance units granted to Employee under the 2014 MII LTIP, which would, absent Employee’s termination of employment become vested after the Resignation Date and through March 15,
2018, shall remain in full force and effect and, to the extent applicable and subject to Employee’s continued performance of consulting services pursuant to Section 4(d) (other than as a result of Employee’s death or disability),
continue to vest and shall be settled in accordance with the terms of the 2014 MII LTIP and applicable grant agreement as if Employee’s employment had continued through March 15, 2018, with the number of performance units that would
otherwise vest and settle prorated based on the number of days beginning on January 1, 2015 and ending on July 1, 2016 relative to the total number of days in the performance period (i.e., 547/1095). 

Any and all other outstanding unvested equity- or performance-based awards previously granted to Employee by the Company shall be forfeited as
of the Resignation Date; 
 (f) A lump-sum payment in an amount equal to the cost of funding three-months of continuing
medical insurance coverage under the U.S. Consolidated Omnibus Reconciliation Act (“COBRA”) which amount shall be paid to Employee three days after the end of the Revocation Period; and 

(g) Accrued but unutilized vacation pay. 

To the extent necessary to give effect to the provisions of Section 2 (b) above, the applicable grant agreements shall be deemed amended by the
provisions of Section 2(b) above. All payments made pursuant to this Section 2 shall be subject to appropriate tax withholding and are subject to all the terms and conditions of this Agreement. 

Section 3. Release of Claims. 

(a) General Release by Employee. In consideration of the foregoing (including the payments and benefits under
Section 2 hereof, which the Company is not required to make or provide under any preexisting agreement, plan or policy), which Employee hereby expressly acknowledges as good and sufficient consideration for the releases provided below, Employee
hereby unconditionally and irrevocably releases, acquits and forever discharges, to the fullest extent permitted by applicable law, (i) the Company and all of its predecessors, successors and assigns, (ii) all of the Company’s past,
present and future affiliates, parent corporations (including MII), subsidiaries, divisions and joint venture entities and all of their respective predecessors, successors and assigns and (iii) all of the past, present and future officers,
directors, managers, shareholders, investors, employee benefit plan administrators, employees, agents, attorneys and other representatives of each of the entities described in the immediately preceding clauses (i) and (ii), individually and in
their respective representative capacities (the persons or entities referred to in the immediately preceding clauses (i), (ii) and (iii) being, individually, a “Releasee” and, collectively, the
“Releasees”), from any and every 

  
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action, cause of action, complaint, claim, demand, administrative charge, legal right, compensation, obligation, damages (including consequential, exemplary and punitive damages), liability, cost
or expense (including attorney’s fees) that Employee has, may have or may be entitled to from or against any of the Releasees, whether legal, equitable or administrative, in any forum or jurisdiction, whether known or unknown, foreseen or
unforeseen, matured or unmatured, accrued or not accrued, which arises directly or indirectly out of, or is based on or related in any way to Employee’s employment with or termination of employment from the Company or Employee’s service
for or other affiliation with MII or any of its subsidiaries (including the Company) or joint venture entities, including any such matter arising from the negligence, gross negligence or reckless, willful or wanton misconduct of any of the
Releasees (together, the “Released Claims”); provided, however, that this Release does not apply to, and the Released Claims do not include: (i) any claims arising solely and specifically under the U.S. Age
Discrimination in Employment Act of 1967 after the date this Agreement is executed by Employee; (ii) any claim for indemnification (including under MII’s or the Company’s organizational documents or insurance policies) arising in
connection with an action instituted by a third party against MII or the Company or any of their affiliates or Employee, in his capacity as an officer, director, manager, employee, agent or other representative of MII or the Company or any of their
affiliates; (iii) any claims for vested benefits under the Company’s 401(k) plan or vested benefits under the McDermott International, Inc. Director and Executive Deferred Compensation Plan; (iv) any claims relating to Employee’s
eligibility to continue participating in health coverage currently available to Employee in accordance with COBRA, subject to the terms, conditions and restrictions of that Act; (v) any claim arising from any breach or failure to perform any
provision of this Agreement; or (vi) any claim for worker’s compensation benefits or any other claim that cannot be waived by a general release. 

(b) Release to be Full and Complete; Waiver of Claims, Rights and Benefits. The parties intend this Release to cover
any and all such Released Claims, whether they are contract claims, equitable claims, fraud claims, tort claims, discrimination claims, harassment claims, whistleblower or retaliation claims, personal injury claims, constructive or wrongful
discharge claims, emotional distress claims, pain and suffering claims, public policy claims, claims for debts, claims for expense reimbursement, wage claims, claims with respect to any other form of compensation, claims for attorneys’ fees,
other claims or any combination of the foregoing, and whether they may arise under any employment contract (express or implied), policies, procedures, practices or by any acts or omissions of any of the Releasees or whether they may arise under any
state, local or federal law, statute, ordinance, rule or regulation, including all Texas employment discrimination laws, Chapter 21 of the Texas Labor Code, the Texas Payday Act, all U.S. federal discrimination laws, the U.S. Age Discrimination in
Employment Act of 1967, the U.S. Employee Retirement Income Security Act of 1974, Title VII of the U.S. Civil Rights Act of 1964, the U.S. Civil Rights Act of 1991, the U.S. Rehabilitation Act of 1973, the U.S. Americans with Disabilities Act
of 1990, the U.S. Equal Pay Act, the U.S. National Labor Relations Act, the U.S. Older Workers Benefit Protection Act, the U.S. Worker Adjustment and Retraining Notification Act, the U.S. Family and Medical Leave Act, the U.S. Sarbanes-Oxley Act of
2002 or common law, without exception. As such, it is expressly acknowledged and agreed that this Release is a general release, 

  
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representing a full and complete disposition and satisfaction of all of the Company’s and any Releasee’s real or alleged legal obligations to Employee, with the only exceptions being as
expressly stated in the proviso to Section 3(a) hereof. Employee understands and agrees, in compliance with any law, statute, ordinance, rule or regulation which requires a specific release of unknown claims or benefits, that this Agreement
includes a release of unknown claims, and Employee hereby expressly waives and relinquishes any and all Released Claims and any associated rights or benefits that Employee may have, including any that are unknown to Employee at the time of the
execution this Agreement. 
 (c) Certain Representations of Employee. Employee represents and warrants that:
(i) Employee is the sole and lawful owner of all rights, titles and interests in and to all Released Claims; and (ii) Employee has the fully legal right, power, authority and capacity to execute and deliver this Agreement. 

(d) Covenant Not to Sue. Employee expressly agrees that neither Employee nor any person acting on Employee’s
behalf will file or bring or permit to be filed or brought any lawsuit or other action before any court, agency or other governmental authority for legal or equitable relief against any of the Releasees involving any of the Released Claims. In the
event that such an action is filed against any of the Releasees, Employee agrees that such Releasees are entitled to legal and equitable remedies against Employee, including an award of attorney’s fees. However, it is expressly understood and
agreed that the foregoing sentence shall not apply to any charge filed by Employee with the Equal Employment Opportunity Commission or any other federal or state agency or to any action filed by Employee that is narrowly limited to seeking a
determination as to the validity of this Agreement and enforcement thereof. Should Employee file a charge with the Equal Employment Opportunity Commission or any other federal or state agency, or should any governmental entity, agency or commission
file a charge, action, complaint or lawsuit against any of the Releasees based on any Released Claim, Employee agrees not to seek or accept any resulting relief whatsoever. 

Section 4. Return of Materials, Nondisparagement and Cooperation Undertakings. 

(a) Return of Materials. On or promptly after the Resignation Date, Employee shall return to MII or the Company, with
no request being required of MII or the Company: (i) any and all documents, records, files, reports, memoranda, books, papers, plans, letters and any other data in Employee’s possession regardless of the medium maintained, held or stored
(whether documentary, computer or other electronic storage or other) that relate in any way to the business or operations of MII or the Company or any of their past or present affiliates, subsidiaries, divisions or joint ventures (such entities
being, individually, a “Company Entity” and, collectively, the “Company Entities”) (and Employee shall not retain, recreate or deliver to anyone else such information); and (ii) any credit cards, keys, access
cards, calling cards, computer equipment and software, telephone, facsimile or other equipment or property of any of the Company Entities. 

  
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 (b) Nondisparagement. Employee shall refrain from making, directly or
indirectly, in any public or private communication (whether oral, written or electronic), any criticisms or negative or disparaging comments or other statements about the Company or any of the other Releasees, or about any aspect of the respective
businesses, operations, financial results or prospects of any of the Company Entities, including comments relating to Employee’s termination of employment. Notwithstanding the foregoing, it is understood and agreed that nothing in this
Section 4(b) or in Section 5 hereof is intended to: (i) prevent Employee from testifying truthfully in any legal proceeding brought by any governmental authority or other third party or interfere with any obligation Employee may have
to cooperate with or provide information to any government agency or commission, subject to compliance with the provisions of Section 5(c) hereof, if applicable; (ii) prevent Employee from advising Employee’s spouse of the terms and
conditions of this Agreement; or (iii) prevent Employee from consulting with Employee’s own legal counsel, as contemplated by Section 7 of this Agreement. 

(c) Cooperation. Employee agrees to be reasonably available to the Company Entities or their representatives (including
their attorneys) to provide information and assistance as requested by MII or the Company. Such information and assistance may include testifying (and preparing to testify) as a witness in any proceeding or otherwise providing information or
reasonable assistance to the Company Entities in connection with any investigation, claim or suit, and cooperating with the Company Entities regarding any litigation, government investigation, regulatory matter, claim or other disputed item
involving any of the Company Entities that relate to matters within the knowledge or responsibility of Employee during Employee’s employment. Specifically, Employee agrees (i) to meet with the Company Entities’ representatives, their
counsel or other designees at reasonable times and places with respect to any matter within the scope of the foregoing provisions of this Section 4(c); (ii) to provide truthful testimony regarding any such matter to any applicable court,
agency or other adjudicatory body; (iii) to provide the Company Entities with immediate notice of contact or subpoena by any non-governmental adverse party (known to Employee to be adverse to any of the Company Entities or their interests), and
(iv) to not voluntarily assist any such non-governmental adverse party or such non-governmental adverse party’s representatives. Such cooperation required by Employee shall not unreasonably interfere with Employee’s other business
endeavors. 
 (d) Consulting Services. During the period from the Resignation Date through the date that is 365 days
immediately after the Resignation Date, (the “Consulting Period”), Employee shall provide such consulting services to the Company Entities as any of the Company Entities may request in accordance with the terms and conditions set
forth in Exhibit C hereto, which is incorporated by reference in and shall be deemed to form an integral part of this Agreement. The Consulting Period may be extended by written agreement between the Company and Employee. It is understood and agreed
by the parties hereto that in no event will the level of consulting services performed by Employee hereunder exceed 20% of the average level of services (measured by hours) he performed over the 36-month period ending on the Resignation Date (or, if
Employee’s period of employment prior to the Resignation Date is a shorter period, then over such shorter period). The Employee’s failure to satisfactorily provide consulting services during the Consulting Period (other than due to death
or disability) will result in forfeiture of the benefits otherwise provided for in Sections 2(c) and 2(d) of this Agreement. 

  
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 (e) Enforcement. The covenants set forth in the foregoing provisions of
this Section 4 may be enforced pursuant to the provisions of Section 5(f) hereof. 
 Section 5. Confidentiality and
Non-Competition Agreement. 
 (a) Definition of Trade Secrets and Confidential Business Information.
Employee acknowledges and agrees that any and all non-public information regarding the Company Entities and their customers and suppliers (including any and all information relating to the Company Entities’ respective business plans or
practices, products, services, contracts with customers, backlog, bids outstanding, target projects, financial or operational performance, finances, financial accounting policies, practices or systems, internal controls or internal control systems,
financial projections or budgets, board of directors or board committee proceedings, investor relations practices, capital expenditures, equipment, pricing strategies, marketing programs or plans, executive management or other personnel, human
resources plans, policies, practices, records or systems, information technology systems or other business systems, project management, business strategy, profits or overhead) is confidential and the unauthorized disclosure of such confidential
information could result in irreparable harm to one or more of the Company Entities. Such confidential information, in whatever form maintained, held or stored (whether documentary, computer or other electronic storage or other), includes each
Company Entity’s proprietary interest in its trade secrets, including its lists of customers and prospective customers, and other information that has recognized value and that is not generally available through other sources (collectively,
“Trade Secrets”), and information regarding each Company Entity’s various services, projects, products, procedures or systems that is treated as confidential by such Company Entity which may not rise to the level of a Trade
Secret (collectively, “Confidential Business Information”). Confidential Business Information does not include information that properly and lawfully has become generally known to the public other than as a result of any act or
omission of Employee. Collectively, Trade Secrets and Confidential Business Information (and including all the non-public information referred to in the first sentence of this Section 5(a) and all information relating to Employee’s
separation from service with the Company) are referred to herein as “Confidential Information.” 
 (b)
Importance of Confidential Information. The parties hereby agree that Employee has been provided with Confidential Information during the period of Employee’s employment and will continue to be provided Confidential Information during
the Consulting Period. By signing this Agreement, Employee acknowledges delivery to and receipt by Employee of Confidential Information. Employee further acknowledges that the preservation and protection of the Confidential Information was an
essential part of Employee’s employment with the Company and that Employee has had a duty of fidelity and trust to the Company Entities in handling the Confidential Information. 

  
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 (c) Nondisclosure or Misuse. Employee agrees that Employee will not
disclose or take away any of the Confidential Information, directly or indirectly, or use such information in any way. Without limiting the generality of the foregoing, Employee will not disclose any of the Confidential Information to any securities
analysts, shareholders, prospective investors, customers, competitors or any other third party, including any third party who has or may express an interest in acquiring any of the Company Entities or all or any significant portion of their
respective outstanding equity securities or assets. If Employee is legally required to disclose any Confidential Information, Employee shall, to the extent not prohibited by applicable law or legal process, promptly notify the Company in writing of
such requirement so that the Company or any of the other Company Entities may seek an appropriate protective order or other relief or waive compliance with the nondisclosure provisions of this Section 5 with respect to such Confidential
Information. To the extent not prohibited by applicable law, Employee agrees to cooperate with and not to oppose any effort by the Company or any other Company Entity to resist or narrow such request or to seek a protective order or other
appropriate remedy. In any such case, Employee will: (i) disclose only that portion of the Confidential Information that, according to written advice of Employee’s counsel, is required to be disclosed; (ii) use reasonable best efforts
to obtain assurances that such Confidential Information will be treated confidentially; and (iii) to the extent not prohibited by applicable law, promptly notify the Company in writing of the items of Confidential Information so disclosed. The
foregoing obligations are in addition to any confidentiality obligations Employee may have under any other agreements or arrangements with any of the Company Entities. Nothing in the nondisclosure provisions of this Section 5 prohibits Employee
from reporting possible violations of law or regulation to any governmental agency or entity (or of making any other protected disclosures). Pursuant to the Defend Trade Secrets Act of 2016, Employee shall not be held criminally or civilly liable
under any Federal or state trade secret law for the disclosure of any Trade Secret that (i) is made (A) in confidence to a Federal, state or local government official, either directly or indirectly, or to an attorney and (B) solely
for the purpose of reporting or investigating a suspected violation of law or (ii) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. 

(d) Return of Confidential Information. On or promptly after the Resignation Date, except as expressly directed
otherwise by the Company in anticipation of the provision of consulting services during the Consulting Period, all documents or other information containing or referring to any of the Confidential Information as may be in Employee’s possession,
or over which Employee may have control, regardless of whether prepared by Employee, shall be returned by Employee to the Company in accordance with the provisions of Section 4(a) hereof. 

(e) Noncompetition Agreement. Employee acknowledges and agrees that information, including the Confidential
Information, Employee has acquired will enable Employee to irreparably injure the Company if Employee should engage in competition during the period beginning from the Resignation Date and extending through the first anniversary thereof (the
“Non-Compete Period”). Accordingly, as a material and substantial part of the agreements set forth herein, and particularly in consideration of the 

  
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severance payments, the waiver or removal of selling restrictions or forfeiture provisions with respect to, or vesting of, equity-based awards, the provision of Confidential Information and the
other benefits provided to Employee pursuant to Section 2 hereof, Employee hereby agrees that the following covenants are reasonable and necessary covenants for the protection of the value of the agreements of Employee contained herein: 

(i) During the Non-Compete Period, Employee shall not, directly or indirectly, without the prior written approval of the
Company’s Chief Executive Officer (which approval shall not be unreasonably withheld), on behalf of the Company, act in any capacity for, be employed by, provide services to, or contract with any other company or entity engaged in Competing
Services (a “Competitive Entity”), or acquire any interest of any type in any Competitive Entity; provided, however, that the foregoing shall not prohibit Employee from acquiring, solely as an investment and through
market purchases, securities of any Competitive Entity which are registered under Section 12(b) or 12(g) of the Securities and Exchange Act of 1934 and which are publicly traded, so long as Employee is not part of any control group of such
Competitive Entity and such securities, including any securities issuable on conversion or exchange of any convertible or exchangeable securities, beneficially owned (as determined in accordance with Rule 13d-3 under the Securities Exchange Act of
1934) by Employee do not constitute more than one percent of the outstanding voting power of that entity. For the purposes of this Agreement, the phrase “Competing Services” shall mean any services that are the same as or similar to
the services currently being provided or offered by any of the Company Entities, in any case in any of the oil and gas producing regions of the world in which the Company Entities operate. Competing Services include engineering, procurement,
construction and installation services and project management services for offshore oil and gas field development, including any such services related to fixed or floating production facilities, pipelines or subsea systems. 

(ii) During the Non-Compete Period, Employee shall not, directly or indirectly, solicit any Company Entity’s Protected
Customers for the purpose of engaging in any business which is the same as or similar to the business in which a Company Entity is engaged. The phrase “Protected Customers” means all persons or entities to whom a Company Entity has
sold, or proposed the sale of, any product or service within the period of three (3) years immediately prior to the Resignation Date. 

(iii) During the Non-Compete Period, Employee shall not, on Employee’s own behalf or on behalf of any other person or
entity, solicit, divert or recruit any person who is, during such time frame, an employee of a Company Entity to leave such employment or in any other manner attempt, directly or indirectly, to influence, induce, or encourage any employee of a
Company Entity to leave the employment of that Company Entity. 

  
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 (f) Enforcement of Covenants. Employee acknowledges that the injury that
would be suffered by the Company Entities as a result of a breach or threatened breach of the provisions of Section 4 hereof or this Section 5 would be immediate and irreparable and that, because of the difficulty of measuring economic
loss of any such breach or threatened breach, an award of monetary damages to the Company Entities for any such breach would be an inadequate remedy. Accordingly, in the event that the Company determines that Employee has breached or attempted to
breach or is threatening to breach any provision of Section 4 hereof or this Section 5, in addition to any other remedies at law or in equity that any of the Company Entities may have available to them, it is agreed that each of the
Company Entities shall be entitled, upon application to any court of proper jurisdiction, to temporary or permanent restraining orders or injunctions against Employee prohibiting such breach or attempted or threatened breach, without the necessity
of: (i) proving immediate or irreparable harm; (ii) establishing that monetary damages are inadequate or that the Company Entities do not have an adequate remedy at law; or (iii) posting any bond with respect thereto. 

(g) Right of Court or Arbitrator to Reform Restrictions. The Company and Employee state that it was their intent to
enter into a valid and enforceable agreement. Employee and the Company hereby acknowledge the reasonableness of the restrictions set forth in this Section 5, including the reasonableness of the geographic area, duration as to time and scope of
activity restrained. Employee agrees that if an arbitrator or court of competent jurisdiction finds that this Section 5 contains limitations as to geographic area, time or scope of activity to be restrained that are not reasonable and impose a
greater restraint than is necessary to protect the goodwill or other business interest of the Company Entities, the arbitrator or court may: (i) reform the covenants to the extent necessary to cause the limitations contained in this
Section 5 as to geographic area, time or scope of activity to be reasonable and to impose a restraint that is not greater than necessary to protect the goodwill or business interests of the Company Entities; and (ii) enforce this
Section 5 as so reformed. 
 (h) Repayment and Forfeiture. Employee agrees that in the event that
(i) Employee breaches any term of Sections 3 or 4 hereof or this Section 5, or (ii) Employee challenges the validity of all or any part of this Section 5, and all or any part of this Section 5 is found invalid or
unenforceable for any reason whatsoever by a court of competent jurisdiction or an arbitrator in a proceeding between Employee and a Company Entity, in addition to any other remedies at law or in equity the Company may have available to it, the
Company shall not be obligated to make any of the payments and may cease to make such payments or to provide for any of the benefits specified in Section 2 hereof, and shall be entitled to recoup from Employee any and all of the value of the
payments and benefits provided pursuant to Section 2 hereof that have vested or been paid pursuant to that Section. 
 Section 6.
Entire Agreement; Amendment; Third-Party Beneficiaries. Employee and the Company agree and acknowledge that this Agreement contains and comprises the entire agreement and understanding between the parties with respect to the subject matter
hereof, that no other representation, promise, covenant or agreement of any kind whatsoever has been made to cause either party hereto to execute this Agreement, that all agreements and understandings

  
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between the parties with respect to the subject matter hereof are embodied and expressed in this Agreement and that this Agreement supersedes all prior agreements, negotiations, discussions,
understandings and commitments, written or oral, between the parties hereto with respect to such subject matter. The parties also agree that the terms of this Agreement shall not be amended or changed except in writing and signed by Employee and a
duly authorized agent of the Company. The parties to this Agreement further agree that this Agreement shall be binding on and inure to the benefit of Employee and the Company and the Company’s successors and assigns. Except to the extent
otherwise provided in this Agreement with respect to the Company Entities and the Releasees (each such Company Entity and each such Releasee hereby being expressly made a third-party beneficiary of this
Agreement), the provisions of this Agreement shall not confer upon any third party any remedy, claim, liability, reimbursement or other right in excess of those existing without reference to this Agreement. 

Section 7. Timing and Consultation with Counsel. Employee acknowledges that Employee has been given a reasonable period of time,
not less than twenty-one (21) days, within which to consider this Agreement and has been advised to discuss the terms of this Agreement with legal counsel of Employee’s own choosing. Employee acknowledges that this Agreement was offered to
Employee on June 28, 2016, and Employee was advised that if accepted (i) it must be executed on or prior to July 19, 2016, and (ii) the Agreement could be revoked, in writing, for up to seven (7) days following the date of
such acceptance. If Employee revokes this Agreement, Employee’s resignation shall nevertheless remain effective. Employee represents that Employee has relied on Employee’s own knowledge and judgment and on the advice of independent legal
counsel of Employee’s choosing and has consulted with such other independent advisors as Employee and Employee’s counsel deemed appropriate in connection with Employee’s review of this Agreement and Employee’s rights with respect
to Employee’s separation from service from the Company and other Company Entities and with respect to this Agreement. Based on Employee’s review, Employee acknowledges that Employee fully and completely understands and accepts all the
terms of this Agreement, including the Release in Section 3 hereof, and their legal effects, and Employee is entering into this Agreement voluntarily and of Employee’s own free will, with full consideration of any and all rights which
Employee may currently have. Employee further acknowledges that Employee is not relying on any representations or statements made by the Company or any other Company Entity, or by any of their respective officers, directors, employees, affiliates,
agents, attorneys or other representatives, regarding this Agreement, except to the extent such representations are expressly set forth in this Agreement. Employee also acknowledges that Employee is not relying upon a legal duty, if one exists, on
the part of the Company or any other Company Entity, or any of their respective officers, directors, employees, subsidiaries, affiliates, agents, attorneys or other representatives, to disclose any information in connection with the execution of
this Agreement or its preparation, it being expressly understood that Employee shall never assert any failure to disclose information on the part of any such person or entity as a ground for challenging this Agreement or any provision hereof. 

Section 8. Applicable Law; Venue. This Agreement shall be interpreted and construed in accordance with the substantive laws of the
State of Texas, without giving effect to any conflicts of laws provisions thereof that would result in the application of the laws of any other jurisdiction. THE EXCLUSIVE VENUE FOR THE RESOLUTION OF ANY DISPUTE RELATING TO THIS AGREEMENT OR
EMPLOYEE’S EMPLOYMENT (EXCEPT FOR 

  
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ANY DISPUTE THAT MAY BE SUBJECTED TO ARBITRATION BY MUTUAL AGREEMENT OF THE PARTIES HERETO AFTER THE DATE HEREOF) SHALL BE IN THE STATE AND FEDERAL COURTS LOCATED IN HARRIS COUNTY, TEXAS AND THE
PARTIES HEREBY EXPRESSLY CONSENT TO THE JURISDICTION OF THOSE COURTS. 
 Section 9. Section 409A; Other Tax Matters. This
Agreement is intended to provide payments that are exempt from or compliant with the provisions of Section 409A of the U.S. Internal Revenue Code of 1986 (the “Code”) and related regulations and Treasury pronouncements
(“Section 409A”), and the Agreement shall be interpreted accordingly. Notwithstanding any provisions of an RSU to the contrary, no RSU shall be settled by reason of a change in control of MII or disability of Employee unless such
event is a change in control or disability, as applicable, within the meaning of Section 409A. Notwithstanding anything herein to the contrary, if on the date of Employee’s separation from service Employee is a “specified
employee,” as defined in Section 409A, then all or a portion of any severance payments, or benefits under this Agreement that would be subject to the additional tax provided by Section 409A(a)(1)(B) of the Code if not delayed as
required by Section 409A(a)(2)(B)(i) of the Code shall be delayed until the first day of the seventh month following Employee’s separation from service date (or, if earlier, Employee’s date of death) and shall be paid as a lump sum
(without interest) on such date. For purposes of this Agreement, a termination of Employee’s employment must be a “separation from service” for purposes of Section 409A. Employee acknowledges and agrees that Employee has obtained
no advice from the Company or any of the other Company Entities, or any of their respective officers, directors, employees, subsidiaries, affiliates, agents, attorneys or other representatives, and that none of such persons or entities have made any
representation regarding the tax consequences, if any, of Employee’s receipt of the payments, benefits and other consideration provided for in this Agreement. Employee further acknowledges and agrees that Employee is personally responsible for
the payment of all federal, state and local taxes that are due, or may be due, for any payments and other consideration received by Employee under this Agreement. Employee agrees to indemnify the Company and hold the Company harmless for any and all
taxes, penalties or other assessments that Employee is, or may become, obligated to pay on account of any payments made and other consideration provided to Employee under this Agreement. 

Section 10. Miscellaneous Provisions. 

(a) Waivers. Any term or provision of this Agreement may be waived, or the time for its performance may be extended, by
the party hereto entitled to the benefit thereof. Any such waiver shall be validly and sufficiently given for the purposes of this Agreement if, as to either party hereto, it is in writing signed by such party or an authorized representative
thereof. Failure on the part of the Company or Employee at any time to insist on strict compliance by the other party with any provisions of this Agreement shall not constitute a waiver of the obligations of either party hereto in respect thereof,
or of either such party’s right hereunder to require strict compliance therewith in the future. No waiver of any breach of this Agreement shall be deemed to constitute a waiver of any other or subsequent breach. 

  
 - 12 - 

 (b) Severability. If any provision of this Agreement is held to be
illegal, invalid or unenforceable under applicable law, that provision shall be severable and this Agreement shall be construed and enforced as if that illegal, invalid or unenforceable provision never comprised a part hereof, and the remaining
provisions hereof shall remain in full force and effect and shall not be affected by the illegal, invalid or unenforceable provision, and there shall be added automatically as part of this Agreement a provision as similar in its terms to such
illegal, invalid or unenforceable provision as may be possible and be legal, valid and enforceable. 
 (c) Further
Assurances. Employee shall, on request by the Company from time to time after the date hereof, execute, acknowledge and deliver to the Company such other documents and instruments as the Company may require to give effect to the provisions
of this Agreement, including a confirmatory release of the Released Claims as of the Resignation Date. 
 (d) Section
Headings. Titles and headings to Sections and subsections hereof are for the purpose of reference only and shall in no way limit, define or otherwise affect the provisions hereof. 

(e) Construction; Timing of Payments. In this Agreement, unless the context clearly indicates otherwise: (i) words
used in the singular include the plural and words used in the plural include the singular; (ii) reference to any gender includes the other gender and the neuter; (iii) the words “include,” “includes” and
“including” shall be deemed to be followed by the words “without limitation”; (iv) the words “shall” and “will” are used interchangeably and have the same meaning; (v) the word “or” shall
have the inclusive meaning represented by the phrase “and/or”; (vi) the words “this Agreement,” “herein,” “hereunder,” “hereof,” “hereto” and words of similar import shall be deemed
references to this Agreement as a whole and not to any particular Section or other provision of this Agreement; (vii) reference to any law (including statutes and ordinances) means such law (including all rules and regulations promulgated
thereunder) as amended, modified, codified or reenacted, in whole or in part, and in effect at the time of determining compliance or applicability; (viii) relative to the determination of any period of time, “from” means “from
and including” and “through” means “through and including”; and (ix) all references to dollar amounts herein shall be in respect of lawful currency of the United States. The language this Agreement uses shall be deemed
to be the language that the parties hereto have chosen to express their mutual intent, and no rule of strict construction shall be applied against either party hereto. If the payment date for, or the last day of any period during which, any payment
is to be made by the Company hereunder falls on a day that is a Saturday or a Sunday or any public or legal holiday, whether federal or state, in Houston, Texas, then the Company will have until the close of business on the next succeeding day that
is not a Saturday, a Sunday or such a holiday to make such payment. 
 (f) Execution in Counterparts. This Agreement
may be executed in any number of counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute one and the same instrument. 

  
 - 13 - 

 [Signature page follows] 

  
 - 14 - 

 I HAVE READ THE FOREGOING SEPARATION AGREEMENT, I FULLY UNDERSTAND ITS TERMS AND THAT I MAY BE WAIVING
SIGNIFICANT LEGAL RIGHTS BY EXECUTING IT, AND I HAVE VOLUNTARILY EXECUTED IT ON THE DATE WRITTEN BELOW, SIGNIFYING THEREBY MY ASSENT TO, AND WILLINGNESS TO BE BOUND BY, ITS TERMS: 

 

			
	Date: 06/28/2016	  	 /s/ Stephen L. Allen

		  	Stephen L. Allen

 Before me, a Notary Public in and for Harris County, Texas, personally appeared the above-named
Mr. Stephen L. Allen, who acknowledged that he executed the foregoing instrument for the purposes and consideration therein expressed, and acknowledged the same to be his free act and deed. 

IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal, in the County of Harris and State of Texas, this 28th day of June, 2016.

  

					
	 /s/ Robert E. Stumpf

	NOTARY PUBLIC
	
	McDERMOTT, INC.
		
	By:	 	 /s/ L. K. Hinrichs

		 	Name:	 	 Liane K. Hinrichs

		 	Title:	 	 Senior VP, General Counsel and

Corporate Secretary

 Before me, a Notary Public in and for Harris County, Texas, personally appeared the above-named officer
of McDermott, Inc., who acknowledged that he/she executed the foregoing instrument for and on behalf of McDermott, Inc., a Delaware corporation, and for the purposes and consideration therein expressed, and acknowledged the same to be his/her free
act and deed and the free act and deed of said corporation. 
 IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal, in the
County of Harris and State of Texas, this 28th day of June, 2016. 
  

	
	 /s/ Robert E. Stumpf

	NOTARY PUBLIC

  

  
 - 15 - 

 EXHIBIT A 

Notice of Resignation 
 To the Board of
Directors of McDermott International, Inc. 
 Effective July 1, 2016, the undersigned, Mr. Stephen L. Allen, resigns from all positions held
as an officer of McDermott International, Inc., a Panamanian corporation (“McDermott”), and from all positions held as an officer, employee, member of the board of directors or board of managers (and member of any and all committees
thereof) of any of McDermott’s subsidiaries (whether corporations, limited liability companies, limited partnerships or other forms of entity) and joint venture entities, and from any and all positions or capacities with respect to any employee
benefit plan sponsored or maintained by any such entity, including but not limited to those as reflected on the attachment hereto. This resignation is not subject to any condition to effectiveness (including, but not limited to, acceptance by the
Board of Directors of McDermott) and is irrevocable. 
 Dated: 6/28/2016 

 

	
	 /s/ Stephen L. Allen

	
	Stephen L. Allen

 EXHIBIT B 

FINAL RELEASE 
 RELEASE OF
CLAIMS 
 THIS RELEASE OF CLAIMS (this “Release”) is made on and effective as of July 1, 2016 by Stephen L. Allen
(“Employee”) in favor of McDermott, Inc., a Delaware corporation (the “Company”), and the other Releasees (as defined herein) in connection with the Separation Agreement entered into by and between Employee and the
Company dated as of June 28th, 2016 (the “Separation Agreement”). Unless otherwise defined herein, all capitalized terms used in this Release that are defined in the Separation Agreement shall have the respective meanings
assigned to them in the Separation Agreement. 
 W I T N E S S E T H

 WHEREAS, the Separation Agreement includes, in Section 3 thereof, a general release of claims by Employee in favor of the Releasees
and related provisions (collectively, the “Prior Release”); 
 WHEREAS, the Prior Release was given in consideration of
various severance benefits specified in and to be provided pursuant to the Separation Agreement; 
 WHEREAS, the Separation Agreement
contemplates a confirmatory release of the Released Claims (as defined herein) to be given by Employee, and Employee’s agreement to provide such confirmatory release was a material inducement to the Company in entering into the Separation
Agreement; and 
 WHEREAS, Employee is executing and delivering to the Company this Release in order to meet Employee’s obligation to
provide such confirmatory release; 
 NOW, THEREFORE, in consideration of the premises, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the undersigned hereby agrees, covenants and undertakes as follows: 

Section 1. Release of Claims. 

(a) General Release by Employee. Employee hereby unconditionally and irrevocably releases, acquits and forever discharges, to the
fullest extent permitted by applicable law, (i) the Company and all of its predecessors, successors and assigns, (ii) all of the Company’s past, present and future affiliates, parent corporations (including MII), subsidiaries,
divisions and joint venture entities and all of their respective predecessors, successors and assigns and (iii) all of the past, present and future officers, directors, managers, shareholders, investors, employee benefit plan administrators,
employees, agents, attorneys and other representatives of each of the entities described in the immediately preceding clauses (i) and (ii), individually and in their respective representative capacities (the persons or entities referred to in
the immediately preceding clauses (i), (ii) and (iii) being, individually, a “Releasee” and, collectively, the “Releasees”), from any 

 
and every action, cause of action, complaint, claim, demand, administrative charge, legal right, compensation, obligation, damages (including consequential, exemplary and punitive damages),
liability, cost or expense (including attorney’s fees) that Employee has, may have or may be entitled to from or against any of the Releasees, whether legal, equitable or administrative, in any forum or jurisdiction, whether known or unknown,
foreseen or unforeseen, matured or unmatured, accrued or not accrued, which arises directly or indirectly out of, or is based on or related in any way to Employee’s employment with or termination of employment from the Company or
Employee’s service for or other affiliation with MII or any of its subsidiaries (including the Company) or joint venture entities, including any such matter arising from the negligence, gross negligence or reckless, willful or wanton
misconduct of any of the Releasees (together, the “Released Claims”); provided, however, that this Release does not apply to, and the Released Claims do not include: (i) any claim for indemnification (including under
MII’s or the Company’s organizational documents or insurance policies) arising in connection with an action instituted by a third party against MII or the Company or any of their affiliates or Employee, in his capacity as an officer,
director, manager, employee, agent or other representative of MII or the Company or any of their affiliates; (ii) any claims for vested benefits under the Company’s 401(k) plan or vested benefits under the McDermott International, Inc.
Director and Executive Deferred Compensation Plan; (iii) any claims relating to Employee’s eligibility to continue participating in health coverage currently available to Employee in accordance with the U.S. Consolidated Omnibus
Reconciliation Act, subject to the terms, conditions and restrictions of that Act; (iv) any claim arising from any breach or failure by the Company to perform any provision of the Separation Agreement; or (v) any claim for worker’s
compensation benefits or any other claim that cannot be waived by a general release. 
 (b) Release to be Full and Complete; Waiver of
Claims, Rights and Benefits. Employee intends this Release to cover any and all such Released Claims, whether they are contract claims, equitable claims, fraud claims, tort claims, discrimination claims, harassment claims, whistleblower or
retaliation claims, personal injury claims, constructive or wrongful discharge claims, emotional distress claims, pain and suffering claims, public policy claims, claims for debts, claims for expense reimbursement, wage claims, claims with respect
to any other form of compensation, claims for attorneys’ fees, other claims or any combination of the foregoing, and whether they may arise under any employment contract (express or implied), policies, procedures, practices or by any acts or
omissions of any of the Releasees or whether they may arise under any state, local or federal law, statute, ordinance, rule or regulation, including all Texas employment discrimination laws, the Texas Commission on Human Rights Act, the Texas Labor
Code, all U.S. federal discrimination laws, the U.S. Age Discrimination in Employment Act of 1967, the U.S. Employee Retirement Income Security Act of 1974, Title VII of the U.S. Civil Rights Act of 1964, the U.S. Civil Rights Act of 1991, the U.S.
Rehabilitation Act of 1973, the U.S. Americans with Disabilities Act of 1990, the U.S. Equal Pay Act, the U.S. National Labor Relations Act, the U.S. Fair Labor Standards Act, the U.S. Older Workers Benefit Protection Act, the U.S. Worker Adjustment
and Retraining Notification Act, the U.S. Family and Medical Leave Act, the U.S. Sarbanes-Oxley Act of 2002 or common law, without exception. As such, it is expressly acknowledged and agreed that this Release is a general release, representing a
full and complete disposition and satisfaction of all of the Company’s and any Releasee’s real or alleged legal obligations to Employee, with the only exceptions being as expressly stated in the proviso to Section 1(a) hereof.
Employee understands and agrees, in compliance with any law, statute, ordinance, rule or regulation which requires a specific release of unknown claims or benefits, that this Release includes a release of unknown claims, and Employee hereby
expressly waives and relinquishes any and all Released Claims and any associated rights or benefits that Employee may have, including any that are unknown to Employee at the time of the execution this Release. 

 Section 2. Certain Representations and Acknowledgements of Employee. Employee
represents and warrants that: (i) Employee is the sole and lawful owner of all rights, titles and interests in and to all Released Claims; and (ii) Employee has the fully legal right, power, authority and capacity to execute and deliver
this Release. Employee acknowledges that Employee has been given a reasonable period of time, not less than twenty-one (21) days, within which to consider this Release and has been advised to discuss the terms of this Release with legal counsel
of Employee’s own choosing. Employee represents that Employee has relied on Employee’s own knowledge and judgment and on the advice of independent legal counsel of Employee’s choosing and has consulted with such other independent
advisors as Employee and Employee’s counsel deemed appropriate in connection with Employee’s review of this Release. Based on Employee’s review, Employee acknowledges that Employee fully and completely understands and accepts all the
terms of this Release and their legal effects, and Employee is entering into this Release voluntarily and of Employee’s own free will, with full consideration of any and all rights which Employee may currently have. Employee further
acknowledges that Employee is not relying on any representations or statements made by the Company or any other Company Entity, or by any of their respective officers, directors, employees, affiliates, agents, attorneys or other representatives,
regarding this Release, except to the extent such representations are expressly set forth in the Separation Agreement. Employee also acknowledges that Employee is not relying upon a legal duty, if one exists, on the part of the Company or any other
Company Entity, or any of their respective officers, directors, employees, subsidiaries, affiliates, agents, attorneys or other representatives, to disclose any information in connection with the execution of this Release or its preparation, it
being expressly understood that Employee shall never assert any failure to disclose information on the part of any such person or entity as a ground for challenging this Release or any provision hereof. 

Section 3 Covenant Not to Sue. Employee expressly agrees that neither Employee nor any person acting on Employee’s behalf
will file or bring or permit to be filed or brought any lawsuit or other action before any court, agency or other governmental authority for legal or equitable relief against any of the Releasees involving any of the Released Claims. In the event
that such an action is filed against any of the Releasees, Employee agrees that such Releasees are entitled to legal and equitable remedies against Employee, including an award of attorney’s fees. However, it is expressly understood and agreed
that the foregoing sentence shall not apply to any charge filed by Employee with the Equal Employment Opportunity Commission or to any action filed by Employee that is narrowly limited to seeking a determination as to the validity of this Release
and enforcement hereof. Should Employee file a charge with the Equal Employment Opportunity Commission, or should any governmental entity, agency or commission file a charge, action, complaint or lawsuit against any of the Releasees based on any
Released Claim, Employee agrees not to seek or accept any resulting monetary relief or award whatsoever. 
 Section 4. Parties in
Interest. This Release is for the benefit of the Company and each of the other Released Parties and shall be binding on the undersigned and his heirs, successors and assigns. 

 Section 5. Amendment; Revocation. This Release may not be clarified, modified,
changed or amended except in writing signed by the undersigned and the Company. Notwithstanding any other provision in this Release to the contrary, Employee may revoke this Release, in writing, for up to seven (7) days following the date of
Employee’s execution of this Release, by delivering a written notice of Employee’s revocation of this Release to the Company. Any such notice of revocation shall be (i) addressed to the General Counsel of the Company at its offices at
757 N. Eldridge Parkway, Houston, Texas 77079 or via facsimile or email (facsimile number: (281) 870-5755; email address: lkhinrichs@mcdermott.com); and (ii) deemed given, delivered and effective on the earliest of: (a) in the case of
delivery by facsimile or email, on the date of transmission, if such notice is delivered, and confirmation of receipt is received, by Employee, prior to 5:00 p.m. (Central Time) on a business day, and, otherwise, on the first business day after the
date of transmission (provided that Employee has received confirmation of receipt of such transmission); (b) one (1) business day after when sent, if sent by nationally recognized overnight courier service (charges prepaid); or
(c) upon actual receipt. 
 Section 6. Severability. If any provision of this Release is held to be illegal, invalid or
unenforceable under applicable law, that provision shall be severable and this Release shall be construed and enforced as if that illegal, invalid or unenforceable provision never comprised a part hereof, and the remaining provisions of this Release
shall remain in full force and effect and shall not be affected by the illegal, invalid or unenforceable provision, and there shall be added automatically as part of this Release a provision as similar in its terms to such illegal, invalid or
unenforceable provision as may be possible and be legal, valid and enforceable. 
 Section 7. Section Headings. Titles and
headings to Sections and subsections hereof are for the purpose of reference only and shall in no way limit, define or otherwise affect the provisions of this Release. 

Section 8. Applicable Law; Venue. This Release shall be interpreted and construed in accordance with the substantive laws of the
State of Texas, without giving effect to any conflicts of laws provisions thereof that would result in the application of the laws of any other jurisdiction. THE EXCLUSIVE VENUE FOR THE RESOLUTION OF ANY DISPUTE RELATING TO THIS RELEASE (EXCEPT FOR
ANY DISPUTE THAT MAY BE SUBJECTED TO ARBITRATION BY MUTUAL AGREEMENT OF THE PARTIES HERETO AFTER THE DATE HEREOF) SHALL BE IN THE STATE AND FEDERAL COURTS LOCATED IN HARRIS COUNTY, TEXAS AND THE PARTIES HEREBY EXPRESSLY CONSENT TO THE JURISDICTION
OF THOSE COURTS. 
 [Signature Page Follows] 

 EMPLOYEE HAS READ THE FOREGOING RELEASE. EMPLOYEE FULLY UNDERSTANDS THE TERMS OF THIS RELEASE AND THAT HE MAY BE
WAIVING SIGNIFICANT LEGAL RIGHTS BY EXECUTING IT, AND EMPLOYEE HAS VOLUNTARILY EXECUTED THIS RELEASE ON THE DATE WRITTEN BELOW, SIGNIFYING THEREBY HIS ASSENT TO, AND WILLINGNESS TO BE BOUND BY, ITS TERMS: 

 

			
	Date:    July 5, 2016	  	 /s/ Stephen L. Allen

		  	Stephen L. Allen

 Before me, a Notary Public in and for Harris County, Texas, personally appeared the above-named Mr. Stephen L.
Allen, who acknowledged that he executed the foregoing instrument for the purposes and consideration therein expressed, and acknowledged the same to be his free act and deed. 

IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal, in the County of Harris and State of Texas, this 5th day of July, 2016. 

 

	
	 /s/ Robert E. Stumpf

	NOTARY PUBLIC

 EXHIBIT C 

CONSULTING SERVICES 

TERMS AND CONDITIONS 
 For the avoidance
of doubt, any capitalized terms not defined in this Exhibit C shall have the meanings ascribed to such terms in the Separation Agreement. 
  

	1.	Description of Services. As requested by the MII or the Company, Mr. Stephen L. Allen (“Consultant”) shall serve as a special consultant furnishing advice, consultation and related
services including, but not limited to, special assignments as determined by Andrew Leys. 

  

	2.	Status. During the Consulting Period, Consultant shall be an independent contractor and shall not be an employee of MII, the Company or any of the other Company Entities. None of the Company Entities shall be
entitled to exercise supervision over the details or methods of performance by Consultant hereunder or to require adherence to specific procedures in performing services hereunder, other than procedures or policies to the extent applicable to all
independent contractors and consultants of the Company Entities on a general basis, including the most recent McDermott International, Inc. Code of Business Conduct. Except as provided herein, Consultant shall not be subject to rules or regulations
applicable to employees of the Company Entities or any established work schedule or routine or other supervision of or direction by any of the Company Entities, as to hours worked or otherwise; provided, however, that all services rendered hereunder
shall be so rendered in a diligent, prudent and competent manner and to the satisfaction of MII and the Company. Consultant shall not have authority to obligate any of the Company Entities to any agreement or to exercise any supervision or direction
over any employees of any of the Company Entities. Since Consultant is not an employee of the Company, Consultant is not hereby entitled to participate in any of the Company’s employee benefit plans, programs or arrangements; provided, however,
the retirement and other payments or benefits that Consultant may be entitled to as a result of previous employment with the Company shall continue uninterrupted in accordance with the terms and conditions of each respective benefit plan or
arrangement. 

  

	3.	 Compensation. Consultant’s individual contact shall be Andrew Leys or his designee, who shall be
responsible for transmitting requests for such advice and consultation from the Company Entities where necessary to enable Consultant to carry out Consultant’s responsibilities hereunder. During the Consulting Period, the Company agrees to pay
Consultant $200 per hour (“Consulting Fees”). The Company also agrees to reimburse Consultant for reasonable costs and expenses of airfare and other travel, meals and lodging actually incurred by Consultant in performance of
consulting services hereunder, in accordance with the then-operative and applicable policies of MII and the Company, and reasonable administrative costs, such as costs for telephone calls, internet usage, printing, etc., necessarily incurred by
Consultant in rendering consulting services hereunder, but not any other fees, costs, or expenses. Consultant shall submit a statement for each month in which consulting services are rendered, showing costs, expenses and days worked with respect to
services rendered during such month, along with documentation substantiating expenses for which reimbursement is sought. The 

	 	
Company agrees to remit to Consultant the appropriate amount promptly following receipt of such statements. All fees and expense reimbursement shall be payable without deductions for federal
income, social security, Medicare or any other taxes whatsoever. Consultant will be responsible for income or other taxes assessed on Consultant’s receipt of fees and expense reimbursements from the Company. 

 

	4.	Security and Non-Disclosure of Information. Consultant shall be responsible for, and bear the expense of, compliance with governmental laws and regulations applicable to the procurement, utilization or production
of information in connection with the furnishing of services hereunder. Consultant agrees that, during the Consulting Period, Consultant will refrain from performing any act or engaging in any course of conduct which has or may reasonably have the
effect of demeaning the name or business reputation of the Company or affects adversely or may reasonably affect adversely the Company’s best interests, economic or otherwise. Consultant also acknowledges that applicable securities laws
prohibit the trading of Company securities while in possession of any material non-public information, including information concerning the financial condition, results of operations, business or prospects of MII and its subsidiaries.

  

	5.	Property and Information. All property and information, including but not limited to reports, findings, recommendations, plans, data, and memoranda of every description, and all copies thereof, furnished to
Consultant or developed in the course of or relating to the services rendered hereunder shall be the property of the applicable Company Entities, and Consultant shall not retain copies of any such matter or material. Consultant agrees that all
inventions, discovery or improvements (whether patentable or not) made or conceived by Consultant are and will remain the sole property of the applicable Company Entities, and Consultant further agrees to assist the applicable Company Entities in
obtaining patents in their names covering any such inventions, discoveries or improvements. 

  

	6.	Law. Consultant will comply with all applicable laws and regulations in the course of Consultant’s activities on behalf the Company Entities. 

 

	7.	Code of Business Conduct. Consultant expressly acknowledges that Consultant has received and reviewed the most recent McDermott International, Inc. Code of Business Conduct, and Consultant will conform
Consultant’s activities undertaken for or on behalf of the Company Entities consistent with the principles of the highest ethical behavior as described therein. 

 

							
	Signature:	 	 /s/ Stephen L. Allen
	 	Date:	 	 6/28/2016

		 	      Stephen L. Allen	 		 	

  

	8.	Reports. Consultant agrees that, upon request, Consultant will file periodic reports on Consultant’s activities on behalf the Company Entities. 

 

	9.	Indemnity. The Company agrees to protect, hold harmless, defend, and indemnify Consultant from and against any and all claims, suits, and demands, of any kind whatsoever, by whomsoever asserted, as a result of,
or arising from, the consulting services provided by Consultant under this Agreement to the Company Entities; provided, however, that the Company shall have no liability or responsibility under this provision for any such claim, suit, or demand
resulting from the gross negligence or intentional misconduct of Consultant. 

	10.	Conflict of Interest. Consultant agrees that Consultant is not presently engaged and will not engage during the term of this Consulting Agreement in any activity which might reasonably create a conflict of
interest between Consultant and any of the Company Entities or which might reasonable and adversely affect Consultant’s judgment with respect to the business of the Company Entities. Consultant further agrees that Consultant will accept no
payment from any competitor or supplier of materials or services, customer, borrower, or lender of the Company Entities. 

  

	11.	Consulting Period. The Consulting Period shall begin on July 1, 2016 and continue through July 1, 2017, unless terminated earlier by Consultant upon fifteen (15) days advance written notice to the
Company or extended by the mutual written agreement of the Company and Consultant. The Consulting Period will be terminated without further liability or obligation on the part of the Company should Consultant breach any of the terms or covenants of
this Agreement (including this Exhibit C).EX-4.2

 Exhibit 4.2 

 
  

GENERAL MOTORS FINANCIAL COMPANY, INC., 

AS ISSUER 

AMERICREDIT FINANCIAL SERVICES, INC., 

AS GUARANTOR 
  

 
 3.200% SENIOR
NOTES DUE 2021 
  
  

NINTH SUPPLEMENTAL INDENTURE 

Dated as of July 5, 2016 
 To

 INDENTURE 
 Dated as of
October 13, 2015 
  
  

WELLS FARGO BANK, NATIONAL ASSOCIATION, 

AS TRUSTEE 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE 1 DEFINITIONS AND INCORPORATION BY REFERENCE
	  	 	2	  
			
	 Section 1.01
	 	 Definitions
	  	 	2	  
	 Section 1.02
	 	 Incorporation by Reference of Trust Indenture Act
	  	 	7	  
	 Section 1.03
	 	 Rules of Construction
	  	 	7	  
	 Section 1.04
	 	 Relationship With Base Indenture
	  	 	7	  
		
	 ARTICLE 2 THE NOTES
	  	 	7	  
			
	 Section 2.01
	 	 Establishment, Form and Dating
	  	 	7	  
	 Section 2.02
	 	 Registrar and Paying Agent
	  	 	8	  
		
	 ARTICLE 3 REDEMPTION OF NOTES
	  	 	8	  
			
	 Section 3.01
	 	 Optional Redemption
	  	 	8	  
	 Section 3.02
	 	 Optional Redemption by Company
	  	 	9	  
		
	 ARTICLE 4 COVENANTS
	  	 	9	  
			
	 Section 4.01
	 	 Liens
	  	 	9	  
	 Section 4.02
	 	 Corporate Existence
	  	 	9	  
	 Section 4.03
	 	 Additional Subsidiary Guarantees
	  	 	10	  
		
	 ARTICLE 5 DEFEASANCE
	  	 	10	  
		
	 ARTICLE 6 GUARANTEES
	  	 	10	  
		
	 ARTICLE 7 MISCELLANEOUS
	  	 	11	  
			
	 Section 7.01
	 	 Governing Law
	  	 	11	  
	 Section 7.02
	 	 Successors
	  	 	11	  
	 Section 7.03
	 	 Severability
	  	 	11	  
	 Section 7.04
	 	 Counterpart Originals
	  	 	11	  
	 Section 7.05
	 	 Table of Contents, Headings, etc
	  	 	11	  

  
 i 

 This NINTH SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of
July 5, 2016, by and among General Motors Financial Company, Inc., a Texas corporation (the “Company”), AmeriCredit Financial Services, Inc., a Delaware corporation (the “Guarantor”), and Wells Fargo Bank,
National Association, as trustee (the “Trustee”). 
 WHEREAS, the Company has heretofore executed and delivered to the
Trustee an Indenture, dated as of October 13, 2015 (the “Base Indenture” and, as supplemented by the first supplemental indenture thereto and the second supplemental indenture thereto, each dated as of October 13, 2015,
among the Company, the Trustee and the Guarantor, as further supplemented by the third supplemental indenture thereto, dated as of November 24, 2015, among the Company, the Trustee and the Guarantor, as further supplemented by the fourth
supplemental indenture thereto and the fifth supplemental indenture thereto, each dated as of March 1, 2016, among the Company, the Trustee and the Guarantor, as further supplemented by the sixth supplemental indenture thereto, the seventh
supplemental indenture thereto and the eighth supplemental indenture thereto, each dated as of May 9, 2016, among the Company, the Trustee and the Guarantor, and as further supplemented by this Supplemental Indenture, the
“Indenture”), between the Company and the Trustee, providing for the issuance by the Company from time to time of one or more series of Securities; 

WHEREAS, the Company has duly authorized the execution and delivery of this Supplemental Indenture to provide for the issuance of its 3.200%
Senior Notes due 2021 (the “Notes”), and the Company and the Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of the Holders of the Notes; 

WHEREAS, the Guarantor has duly authorized the execution and delivery of this Supplemental Indenture in order to provide for a Guarantee by
the Guarantor of the Notes as to which Guarantee has been made applicable in accordance with the terms of this Supplemental Indenture as contemplated by Article 10 of the Base Indenture; 

WHEREAS, the Company and the Guarantor desire and have requested the Trustee to join with them in the execution and delivery of this
Supplemental Indenture in order to supplement the Base Indenture and to add covenants to and remove covenants from the Base Indenture with respect to the Notes as and to the extent set forth herein to provide for the issuance and the terms of the
Notes; and 
 WHEREAS, all things necessary to make this Supplemental Indenture a valid indenture and agreement of the Company and the
Guarantor according to its terms have been done. 
 NOW, THEREFORE: 

In consideration of the premises and the purchase of the Notes by the Holders thereof, the Company, the Guarantor and the Trustee mutually
covenant and agree for the equal and proportionate benefit of all Holders from time to time of the Notes as follows. 

 ARTICLE 1 

DEFINITIONS AND INCORPORATION BY REFERENCE 

Section 1.01 Definitions. 

Certain terms used principally in certain Articles hereof are defined in those Articles. Capitalized terms used but not defined in this
Supplemental Indenture shall have the meaning ascribed to them in the Base Indenture or in this Article. In the event of any conflict between any term defined in the Base Indenture and this Supplemental Indenture, the defined terms in this
Supplemental Indenture shall govern and control. 
 “Acquired Indebtedness” means, with respect to any specified Person,
Indebtedness of any other Person existing at the time such other Person merges with or into or becomes a Subsidiary of such specified Person, or Indebtedness incurred by such Person in connection with the acquisition of assets, in each case so long
as such Indebtedness was not incurred in connection with, or in contemplation of, such other Person merging with or into or becoming a Subsidiary of such specified Person or the acquisition of such assets, as the case may be. 

“Additional Notes” means any additional Notes issued under the Indenture as part of the same series as the Notes. 

“Bank Lines” means, with respect to the Company or any of its Restricted Subsidiaries, one or more debt facilities with banks
or other lenders providing for revolving credit loans and/or letters of credit. 
 “Base Indenture” has the meaning
assigned to it in the recitals hereto. 
 “Comparable Treasury Issue” means that United States Treasury security or
securities selected by the Quotation Agent as having an actual or interpolated maturity comparable to the remaining term of the Notes of the applicable series to be redeemed that would be utilized, at the time of selection and in accordance with
customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Notes of the applicable series. 

“Comparable Treasury Price” means, with respect to any redemption date, (i) the average of four Reference Treasury
Dealer Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (ii) if the Quotation Agent obtains fewer than four such Reference Treasury Dealer Quotations, the average of all
such quotations. 
 “Consolidated Net Tangible Assets” means the aggregate amount of assets (less applicable reserves and
other properly deductible items) after deducting therefrom all current liabilities and all goodwill, trade names, trademarks, unamortized debt discounts and expense and other like intangibles of the Company and its consolidated subsidiaries, all as
set forth in the most recent balance sheet of the Company and its consolidated subsidiaries prepared in accordance with GAAP. 

“Credit Enhancement Agreements”means, collectively, any documents, instruments, guarantees or agreements entered into by the
Company, any of its Restricted Subsidiaries, or any Receivables Entity for the purpose of providing credit support for one or more Receivables Entities or any of their respective securities, debt instruments, obligations or other Indebtedness. 

  
 2 

 “Existing 2017 Notes” means the Company’s 4.75% Senior Notes due 2017,
issued on August 16, 2012, pursuant to that certain indenture, dated as of August 16, 2012, among the Company, the Guarantor and Wells Fargo Bank, N.A., as trustee. 

“Existing 2018 Notes” means the Company’s 6.75% Senior Notes due 2018, issued on June 1, 2011, pursuant to that
certain indenture, dated as of June 1, 2011, among the Company, the Guarantor and Deutsche Bank Trust Company Americas, as trustee. 

“Global Note” means a certificated Note deposited with or on behalf of and registered in the name of the Depositary or its
nominee, substantially in the form of Exhibit A hereto and that has the “Schedule of Exchanges of Interests in the Global Note” attached thereto. As of the date of this Supplemental Indenture all of the Notes are represented by Global
Notes. 
 “Guarantee” means any guarantee of any of the Notes by a Guarantor as contemplated by Article 10 of the Base
Indenture; provided that the term “Guarantee,” when used with respect to the Notes of any Series means a guarantee of such Notes of such Series by a Guarantor of such Notes of such Series as contemplated by
Article 10 of the Base Indenture. 
 “Guarantee Termination Event” means the first date following the date of this
Indenture when (i) no Guarantor guarantees the Existing 2017 Notes and the Existing 2018 Notes and (ii) no Guarantor is an issuer or guarantor of any Triggering Indebtedness (other than any guarantee of Triggering Indebtedness that is
being concurrently released). For purposes of clause (ii) of this definition, a Guarantor’s guarantee of any Triggering Indebtedness shall be deemed to be concurrently released when all of the conditions for the release of such guarantee
are satisfied, other than for any condition related to the concurrent release of the Guarantor’s guarantee of any other Triggering Indebtedness. Upon the satisfaction of all of such conditions not related to the concurrent release of any
guarantees of any other Triggering Indebtedness, a Guarantor’s guarantee of any Triggering Indebtedness and the Guarantee hereunder shall be deemed to be concurrently released and the conditions of clause (ii) shall be deemed to be
satisfied. 
 “Guarantor”means AmeriCredit Financial Services, Inc., a Delaware corporation, and each other Restricted
Subsidiary that becomes a Guarantor in accordance with the terms of the Indenture. 
 “Hedging Obligations” means, with
respect to any Person, the obligations of such Person under (i) interest rate swap agreements, interest rate cap agreements and interest rate collar agreements, and (ii) other agreements or arrangements designed to protect such Person
against fluctuations in interest or currency exchange rates. 
 “Indenture” means the Base Indenture, as supplemented by
this Supplemental Indenture, and as may be amended or further supplemented from time to time, pursuant to the applicable provisions of the Base Indenture and this Supplemental Indenture. 

“Initial Notes” means the first $2,000,000,000 aggregate principal amount of the Notes issued under the Indenture on the date
hereof. 
 “Non-Domestic Entity” means a Person not organized or existing under the laws of the United States, any state
thereof or the District of Columbia. 

  
 3 

 “Notes” has the meaning assigned to it in the recitals hereto. For purposes of
the Indenture, all references to the notes to be issued or authenticated upon transfer or replacement of or in exchange for Notes shall be deemed to refer to Notes. In addition, unless the context otherwise requires, all references to the
“Notes” shall include the Initial Notes and any Additional Notes. 
 “Permitted Liens” means: (i) Liens
existing on the date of the Base Indenture; (ii) Liens to secure securities, debt instruments or other Indebtedness of one or more Receivables Entities or guarantees thereof; (iii) Liens to secure Indebtedness under a Residual Funding
Facility or guarantees thereof; (iv) Liens to secure Indebtedness and other obligations (including letter of credit indemnity obligations and obligations relating to expenses with respect to debt facilities), under one or more debt facilities
with banks or other lenders providing for revolving credit loans and/or letters of credit or guarantees thereof; (v) Liens on spread accounts, reserve accounts and other credit enhancement assets, Liens on the Capital Stock of Subsidiaries of
the Company substantially all of the assets of which are spread accounts, reserve accounts and/or other credit enhancement assets, and Liens on interests in one or more Receivables Entities, in each case incurred in connection with Credit
Enhancement Agreements, Residual Funding Facilities or issuances of securities, debt instruments or other Indebtedness by a Receivables Entity; (vi) Liens on property existing at the time of acquisition of such property (including properties
acquired through merger or consolidation); (vii) Liens securing Indebtedness incurred to finance the construction or purchase of property of the Company or any of its Subsidiaries (but excluding Capital Stock of another Person); provided that
any such Lien may not extend to any other property owned by the Company or any of its Subsidiaries at the time the Lien is incurred, and the Indebtedness secured by the Lien may not be incurred more than 180 days after the later of the acquisition
or completion of construction of the property subject to the Lien; (viii) Liens securing Hedging Obligations; (ix) Liens to secure any Refinancing Indebtedness incurred to refinance any Indebtedness and all other obligations secured by any
Lien referred to in the foregoing clause (i); provided that such new Lien shall be limited to all or part of the same property or type of property that secured the original Lien and the Indebtedness secured by such Lien at such time is not increased
to any amount greater than the outstanding principal amount or, if greater, committed amount of the Indebtedness described under clause (i) of this definition at the time the original Lien became a Permitted Lien; (x) Liens in favor of the
Company or any of its Restricted Subsidiaries; (xi) Liens of the Company or any Restricted Subsidiary of the Company with respect to obligations that do not exceed five percent of Consolidated Net Tangible Assets; (xii) Liens to secure the
performance of statutory obligations, surety or appeal bonds, performance bonds or other obligations of a like nature incurred in the ordinary course of business (including, without limitation, landlord Liens on leased properties); (xiii) Liens
for taxes, assessments or governmental charges or claims that are not yet delinquent or that are being contested in good faith by appropriate proceedings; provided, that any reserve or other appropriate provision as shall be required in conformity
with GAAP shall have been made therefor; (xiv) Liens imposed by law or regulation, such as carriers’, warehousemen’s, materialmen’s, repairmen’s and mechanics’ and similar Liens, in each case for sums not yet overdue
for a period of more than 30 days or that are being contested in good faith by appropriate proceedings or other Liens arising out of judgments or awards against such Person with respect to which such Person shall then be proceeding with an appeal or
other proceedings for review; provided, that any reserve or other appropriate provision as shall be required in conformity with GAAP shall have been made therefor; (xv) Liens related to minor survey

  
 4 

 
exceptions, minor encumbrances, ground leases, easements or reservations of, or rights of others for, licenses, rights-of-way, servitudes, sewers, electric lines, drains, telegraph and telephone
and cable television lines, gas and oil pipelines and other similar purposes, or zoning, building codes or other restrictions (including, without limitation, minor defects or irregularities in title and similar encumbrances) as to the use of real
properties or Liens incidental to the conduct of the business of such Person or to the ownership of its properties which were not incurred in connection with Indebtedness and which do not in the aggregate materially adversely affect the value of
said properties or materially impair their use in the operation of the business of such Person; (xvi) Liens on equipment of the Company or any of its Restricted Subsidiaries granted in the ordinary course of business; (xvii) deposits made
or other security provided to secure liabilities to insurance carriers under insurance or self-insurance arrangements in the ordinary course of business; (xviii) purported Liens evidenced by filings of precautionary UCC financing statements
relating solely to operating leases of personal property; (xix) Liens evidenced by UCC financing statement filings (or similar filings) regarding or otherwise arising under leases entered into by the Company or any Restricted Subsidiary in the
ordinary course of business; (xx) Liens on accounts, payment intangibles, chattel paper, instruments and/or other Receivables granted in connection with sales of any of such assets; (xxi) Liens on Receivables and related assets and
proceeds thereof arising in connection with a Permitted Receivables Financing; and (xxii) Liens in favor of a Guarantor or any of its Subsidiaries. 

“Permitted Receivables Financing” means any facility, arrangement, transaction or agreement (i) pursuant to which the
Company or any Restricted Subsidiary finances the acquisition or origination of Receivables with, or sells Receivables that it has acquired or originated to, a third party on terms that the Board of Directors has concluded are customary and
market-standard, and (ii) that grants Liens to, or permits filings of precautionary UCC financing statements by, the third party against the Company or its Restricted Subsidiaries, as applicable, under such facility, arrangement, transaction or
agreement relating to the subject Receivables, related assets and/or proceeds. 
 “Quotation Agent” means a Reference
Treasury Dealer appointed by the Company. 
 “Receivable” means each of the following: (i) any right to payment of a
monetary obligation, including, without limitation, any promissory note, financing agreement, installment sale contract, lease contract, insurance and service contract, and any credit, debit or charge card receivable, and (ii) any assets
related to such receivables, including, without limitation, any collateral securing, or property leased under, such receivables. 

“Receivables Entity” means each of the following: (i) any Person (whether or not a Subsidiary of the Company)
established for the purpose of transferring or holding Receivables or issuing securities, debt instruments or other Indebtedness backed by Receivables and/or Receivable-backed securities, regardless of whether such Person is an issuer of securities,
debt instruments or other Indebtedness, and (ii) any Subsidiary of the Company formed exclusively for the purpose of satisfying the requirements of Credit Enhancement Agreements, regardless of whether such Person is an issuer of securities,
debt instruments or other Indebtedness. 
 “Reference Treasury Dealer” means (i) any of Barclays Capital Inc.,
Citigroup Global Markets Inc., Commerz Markets LLC, Morgan Stanley & Co. LLC and TD Securities (USA) 

  
 5 

 
LLC and a Primary Treasury Dealer (as defined herein) selected by the Company or any of its affiliates that is a primary U.S. Government securities dealer in New York City (a “Primary
Treasury Dealer”), and their respective successors, provided, however, that if any of the foregoing shall cease to be a Primary Treasury Dealer, the Company will substitute therefor another Primary Treasury Dealer; and (ii) any other
Primary Treasury Dealer selected by the Company. 
 “Reference Treasury Dealer Quotations” means, with respect to each
Reference Treasury Dealer and any redemption date, the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the
Quotation Agent by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third business day preceding such redemption date. 

“Refinancing Indebtedness” means any Indebtedness of the Company or any of its Restricted Subsidiaries issued in exchange
for, or the net proceeds of which are used to extend, refinance, renew, replace, defease or refund other Indebtedness of the Company or any of its Restricted Subsidiaries. 

“Remaining Scheduled Payments” means the remaining scheduled payments of principal of and interest on the Notes of any series
called for redemption that would be due after the related redemption date but for that redemption; provided that if that redemption date is not an interest payment date with respect to the Notes of any series called for redemption, the amount of the
next succeeding scheduled interest payment on such Notes will be reduced by the amount of interest accrued to such redemption date. 

“Residual Funding Facility” means any funding arrangement with a financial institution or institutions or other lenders or
purchasers under which advances are made to the Company or any Subsidiary based upon residual, subordinated or retained interests in Receivables Entities or any of their respective securities, debt instruments or other Indebtedness. 

“Restricted Subsidiary” of a Person means any Subsidiary of the referent Person that is not a Receivables Entity or
Non-Domestic Entity. 
 “Supplemental Indenture” has the meaning assigned to it in the preamble hereto. 

“Treasury Rate” means, with respect to any redemption date, the rate per annum equal to the semi-annual equivalent yield to
maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date. 

“Triggering Indebtedness” means any Indebtedness incurred after the date of the Base Indenture to the extent that the
principal amount of such Indebtedness exceeds $100 million; provided, however, that “Triggering Indebtedness” shall not include: (i) Indebtedness that is or would be permitted to be secured by a Permitted Lien (whether or not such
Indebtedness is in fact so secured); (ii) Indebtedness owed to the Company or a Restricted Subsidiary; (iii) Acquired Indebtedness; and (iv) Indebtedness incurred for the purpose of extending, renewing or replacing in whole or in part
Indebtedness permitted by any of clauses (i) through (iii) above. 

  
 6 

 “Trustee” means Wells Fargo Bank, National Association, until a successor
replaces it in accordance with the applicable provisions of this Indenture and thereafter means the successor serving thereunder. 

Section 1.02 Incorporation by Reference of Trust Indenture Act. 

Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture. 

All other terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC rule under
the TIA have the meanings so assigned to them. 
 Section 1.03 Rules of Construction. 

Unless the context otherwise requires: 

(a) a term has the meaning assigned to it; 

(b) “or” is not exclusive; 

(c) words in the singular include the plural, and in the plural include the singular; 

(d) provisions apply to successive events and transactions; and 

(e) references to sections of or rules under the Securities Act shall be deemed to include substitute, replacement of successor sections or
rules adopted by the SEC from time to time. 
 Section 1.04 Relationship With Base Indenture. 

The terms and provisions contained in the Base Indenture shall constitute, and are hereby expressly made, a part of this Supplemental Indenture
and the Company, the Guarantor and the Trustee, by their execution and delivery of this Supplemental Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of the Base Indenture
conflicts with the express provisions of this Supplemental Indenture, the provisions of this Supplemental Indenture shall govern and be controlling. 

ARTICLE 2 
 THE NOTES 

Section 2.01 Establishment, Form and Dating. 

There is hereby established a new series of Securities to be issued under the Base Indenture, to be designated as the Company’s 3.200%
Senior Notes due 2021. 
 There are to be authenticated and delivered $2,000,000,000 principal amount of Notes, and such principal amount of
Notes may be increased from time to time pursuant to Section 2.02 

  
 7 

 
of the Base Indenture by the issuance of Additional Notes. Any such Additional Notes will have the same interest rate, maturity and other terms as the Initial Notes, except for their issue price
and, if applicable, the initial interest accrual date and the initial interest payment date, and shall constitute a single series of Securities with the Initial Notes; provided that if the Additional Notes are not fungible with the Initial Notes for
U.S. federal income tax purposes, they will have a separate CUSIP number. No Notes shall be authenticated and delivered in addition to Notes for the principal amount as so increased except as provided by Sections 2.09, 2.10, 2.13 or 3.08 of the Base
Indenture. The Notes shall be senior debt securities and shall be issued in fully registered form. 
 The Notes and the Trustee’s
certificate of authentication with respect thereto will be substantially in the form of Exhibit A hereto. The Notes may have notations, legends or endorsements required by law, stock exchange rule or usage. Each Note will be dated the date of its
authentication, and except as provided in Section 2.09 of the Base Indenture, will be issued in the form of one or more Global Notes. The principal of, and any premium or interest on, the Notes shall be payable in United States dollars. The
Notes shall be in denominations of $2,000 and integral multiples of $1,000 in excess thereof. 
 The terms and provisions contained in the
Notes will constitute, and are hereby expressly made, a part of the Indenture and the Company, the Guarantor and the Trustee, by their execution and delivery of the Indenture, expressly agree to such terms and provisions and to be bound thereby.
However, to the extent any provision of any Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. 

Section 2.02 Registrar and Paying Agent. 

The Company will maintain a Registrar and Paying Agent with respect to the Notes. The Registrar will keep a register with respect to the Notes
and of their transfer and exchange. 
 The Company initially appoints The Depository Trust Company to act as Depositary with respect to the
Global Notes. 
 The Company initially appoints the Trustee to act as the Registrar and Paying Agent with respect to the Notes and to act as
custodian for the Depositary with respect to the Global Notes. 
 ARTICLE 3 

REDEMPTION OF NOTES 

Section 3.01 Optional Redemption. 

The Notes may be redeemed, in whole or in part, at the option of the Company pursuant to Section 3.02 hereof. Other than as specifically
provided in this Article 3, any redemption pursuant to this Article 3 will be made pursuant to the provisions of Article 3 of the Base Indenture. 

  
 8 

 Section 3.02 Optional Redemption by Company. 

(a) The redemption price (the “Redemption Price”) of the Notes to be redeemed shall be calculated as follows: 

(i) If the redemption date is prior to June 6, 2021, the Notes to be redeemed may be redeemed by the Company at a
Redemption Price equal to the greater of (1) 100% of the principal amount of the Notes to be redeemed and (2) as determined by the Quotation Agent, the sum of the present values of the Remaining Scheduled Payments of principal and interest
in respect of the Notes to be redeemed (exclusive of interest accrued and unpaid as of the date of redemption), discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months), at a rate equal to
the Treasury Rate plus 35 basis points, plus accrued and unpaid interest thereon to the date of redemption. 
 (ii) If the
redemption date is on or after June 6, 2021, the Notes to be redeemed may be redeemed by the Company at a Redemption Price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest thereon to but
excluding the redemption date. 
 If the redemption date is after a record date and on or prior to a corresponding interest payment date, interest will be
paid on the redemption date to the holder of record on the record date. 
 (b) The Trustee shall not be responsible for the calculation of
such Redemption Price. The Company shall calculate such Redemption Price and promptly notify the Trustee in writing thereof. 
 ARTICLE 4

 COVENANTS 
 The Notes shall
be subject to the following covenants in addition to the provisions of Article 4 of the Base Indenture (provided that Section 4.07 of the Base Indenture shall not be applicable to the Notes): 

Section 4.01 Liens. 

The Company shall not, and shall not permit any of its Restricted Subsidiaries to, create, incur or assume any Lien of any kind (other than
Permitted Liens) upon any of their property or assets, now owned or hereafter acquired, unless all payments due under this Indenture and the Notes are secured on an equal and ratable basis with the obligations so secured until such time as such
obligations are no longer secured by a Lien. 
 Section 4.02 Corporate Existence. 

Subject to Article 5 of the Base Indenture, the Company shall do or cause to be done all things necessary to preserve and keep in full force
and effect (i) its corporate existence in accordance with the organizational documents (as the same may be amended from time to time) 

  
 9 

 
of the Company, and (ii) the rights (charter and statutory), licenses and franchises of the Company; provided that the company shall not be required to preserve any such right license
or franchise if the Board of Directors shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company and its Subsidiaries, taken as a whole, and that the loss thereof is not adverse in any
material respect to the Holders of the Notes. 
 Section 4.03 Additional Subsidiary Guarantees. 

If any Restricted Subsidiary issues or guarantees any Triggering Indebtedness, then such Restricted Subsidiary shall execute a Subsidiary
Guarantee; provided, that the Subsidiary Guarantee of any Restricted Subsidiary that becomes a Guarantor under this Section shall be automatically discharged and released as provided under Section 10.05 of the Base Indenture or under Article 6
of this Supplemental Indenture. The foregoing covenant shall terminate upon the occurrence of a Guarantee Termination Event. 
 ARTICLE 5

 DEFEASANCE 
 Legal
defeasance of the Notes under Section 8.04 of the Base Indenture and covenant defeasance of the Notes under Section 8.05 of the Base Indenture shall be applicable to the Notes, and the Company may at its option by a resolution of the Board
of Directors, at any time, with respect to the Notes, elect to have Section 8.04 or Section 8.05 of the Base Indenture be applied to the outstanding Notes upon compliance with the conditions set forth in Section 8.06 of the Base
Indenture. In addition to Section 5.01 of the Base Indenture, Article 4 of this Supplemental Indenture shall be subject to covenant defeasance under Section 8.05 of the Base Indenture. 

ARTICLE 6 
 GUARANTEES 

The provisions of Article 10 of the Base Indenture shall be applicable to the Notes. 

In addition to the provisions set forth in Section 10.05 of the Base Indenture, a Guarantor shall be automatically and unconditionally
released and discharged from all obligations under the Indenture and its Guarantee upon the occurrence of either of the following events: 

(a) the sale or other disposition of all or substantially all of the assets of such Guarantor, by way of merger, consolidation or otherwise,
or a sale, exchange or other disposition of all of the Capital Stock of such Guarantor, in each case following which such Guarantor is no longer a Restricted Subsidiary of the Company; or 

(b) the occurrence of a Guarantee Termination Event. 

  
 10 

 ARTICLE 7 

MISCELLANEOUS 
 Section 7.01
Governing Law. 
 THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE, THE
NOTES AND THE GUARANTEES, IF APPLICABLE, WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 

Section 7.02 Successors. 

All agreements of the Company in this Supplemental Indenture and the Notes will bind its successors. All agreements of the Trustee in this
Supplemental Indenture will bind its successors. All agreements of each Guarantor in this Supplemental Indenture will bind its successors, except as otherwise provided in Section 10.04 of the Base Indenture. 

Section 7.03 Severability. 

In case any provision in this Supplemental Indenture or in the Notes is invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions will not in any way be affected or impaired thereby. 
 Section 7.04 Counterpart
Originals. 
 The parties may sign any number of copies of this Supplemental Indenture. Each signed copy will be an original, but all of
them together represent the same agreement. 
 Section 7.05 Table of Contents, Headings, etc. 

The Table of Contents, Cross-Reference Table and Headings of the Articles and Sections of this Supplemental Indenture have been inserted for
convenience of reference only, are not to be considered a part of this Indenture and will in no way modify or restrict any of the terms or provisions hereof. 

[Remainder of page intentionally left blank] 

  
 11 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed as of the day and year first above written. 
  

			
	 General Motors Financial Company, Inc.,

as Issuer

		
	By:	 	 /s/ Susan B. Sheffield

	Name:	 	Susan B. Sheffield
	Title:	 	Executive Vice President and Treasurer
	
	 AmeriCredit Financial Services, Inc.,

as Guarantor

		
	By:	 	 /s/ Susan B. Sheffield

	Name:	 	Susan B. Sheffield
	Title:	 	Executive Vice President and Treasurer
	
	 Wells Fargo Bank, National Association,

as Trustee

		
	By:	 	 /s/ Martin G. Reed

	Name:	 	Martin G. Reed
	Title:	 	Vice President

  
 [Signature Page to
Ninth Supplemental Indenture] 

 EXHIBIT A 

THIS DEBT SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A
NOMINEE THEREOF. THIS DEBT SECURITY MAY NOT BE TRANSFERRED TO, OR REGISTERED OR EXCHANGED FOR SECURITIES REGISTERED IN THE NAME OF, ANY PERSON OTHER THAN THE DEPOSITARY OR A NOMINEE THEREOF AND NO SUCH TRANSFER MAY BE REGISTERED, EXCEPT IN THE
LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. EVERY DEBT SECURITY AUTHENTICATED AND DELIVERED UPON REGISTRATION OF TRANSFER OF, OR IN EXCHANGE FOR OR IN LIEU OF, THIS DEBT SECURITY SHALL BE A GLOBAL SECURITY SUBJECT TO THE FOREGOING, EXCEPT IN
SUCH LIMITED CIRCUMSTANCES. 
 UNLESS THIS GLOBAL SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION (“DTC”), TO GENERAL MOTORS FINANCIAL COMPANY, INC. OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR
TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNED HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.1 
  

 

	1 	Insert in Global Notes only. 

 CUSIP No.:           37045X BM7 

ISIN No.:              37045XBM74 

3.200% Senior Note due 2021 
  

					
	No. R-1	 		  	            $            

 GENERAL MOTORS FINANCIAL COMPANY, INC. 

promises to pay to [CEDE & CO.]2 

or registered assigns, 
 the
principal sum of $         [(subject to the decreases and increases in principal amount set forth on the Schedule of Exchanges of Interests in the Global Note attached hereto)]3 on July 6, 2021. 
 Interest Payment Dates: January 6 and July 6,
commencing January 6, 2017. 
 Record Dates: December 22 and June 21. 

 
  

	2 	Insert in Global Notes only. 

	3 	Insert in Global Notes only. 

  
 A-2 

 
			
	Dated:                    
	
	General Motors Financial Company, Inc.
		
	By:	 	  

		 	Susan B. Sheffield
		 	Executive Vice President and Treasurer

  
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	This is one of the Global
	 Notes referred to in the

within-mentioned Indenture:

	
	Dated:                    
	
	 Wells Fargo Bank, National Association,

as Trustee

		
	By:	 	  

	Name:	 	Martin G. Reed
	Title:	 	Vice President

  
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 [Back of Note] 

3.200% Senior Note due 2021 

This Note is one of a duly authorized issue of Securities (the “Securities”) of General Motors Financial Company, Inc. (the
“Company,” which term includes any successor Person under the Base Indenture hereinafter referred to), issued and issuable in one or more series under an Indenture, dated as of October 13, 2015 (the “Base
Indenture”), between the Company and Wells Fargo Bank, National Association, as Trustee (the “Trustee,” which term includes any successor trustee under the Base Indenture), to which Base Indenture and all indentures
supplemental thereto reference is hereby made for a statement of the respective rights, limitation of rights, duties and immunities thereunder of the Company, AmeriCredit Financial Services, Inc., a Delaware corporation (the
“Guarantor”), the Trustee and the Holders of the Securities issued thereunder and of the terms upon which said Securities are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof
as 3.200% Senior Notes due 2021 (the “Notes”), which was issued under the Ninth Supplemental Indenture, dated as of July 5, 2016, to the Base Indenture (the “Supplemental Indenture”, together with the Base
Indenture, and as supplemented by the first supplemental indenture thereto and the second supplemental indenture thereto, each dated as of October 13, 2015, among the Company, the Trustee and the Guarantor, as further supplemented by the third
supplemental indenture, dated as of November 24, 2015, among the Company, the Trustee and the Guarantor, as further supplemented by the fourth supplemental indenture and the fifth supplemental indenture, each dated as of March 1, 2016,
among the Company, the Trustee and the Guarantor, and as further supplemented by the sixth supplemental indenture, the seventh supplemental indenture and the eighth supplemental indenture, each dated as of May 9, 2016, among the Company, the
Trustee and the Guarantor, the “Indenture”) and which is initially limited to $2,000,000,000 in principal amount. Capitalized terms used herein for which no definition is provided herein shall have the meanings set forth in the
Indenture. 
 1. INTEREST. The Company promises to pay interest on the principal amount of this Note at 3.200% per annum from
and including July 5, 2016 until maturity. The Company will pay interest semi-annually on January 6 and July 6 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each an “Interest
Payment Date”). Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from July 5, 2016; provided that if there is no existing Default in the payment of interest,
and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest
Payment Date shall be January 6, 2017. The Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at a rate that is
1% per annum in excess of the rate then in effect; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest from time to time on demand at the same rate to the
extent lawful. Interest will be computed on the basis of a 360-day year of twelve 30-day months. 
 2. METHOD OF PAYMENT. The Company
will pay interest on the Notes (except defaulted interest) to the Persons who are registered Holders of Notes at the close of business on 

  
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December 22 or June 21 on the next preceding the Interest Payment Date, even if such Notes are cancelled after such Record Date and on or before such Interest Payment Date, except as
provided in Section 2.08 of the Indenture with respect to defaulted interest. The Notes will be payable as to principal, premium and interest at the office or agency of the Company maintained for such purpose within or without the City and
State of New York, or, at the option of the Company, payment of interest may be made by check mailed to the Holders at their addresses set forth in the register of Holders, and provided that payment by wire transfer of immediately available funds
will be made with respect to principal of and interest and premium on, all Global Notes and all other Notes the Holders of which shall have provided wire transfer instructions to an account in the United States that are received by the Paying Agent
no later than 10 Business Days prior to the payment date. Such payment shall be in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. 

3. PAYING AGENT AND REGISTRAR. Initially, Wells Fargo Bank, National Association, the Trustee under the Indenture, will act as Paying
Agent and Registrar. The Company may change any Paying Agent or Registrar without notice to any Holder. The Company or any of its Subsidiaries may act in any such capacity. 

4. INDENTURE. The Company issued the Notes under the Indenture. The terms of the Notes include those stated in the Indenture and those
made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb). The Notes are subject to all such terms, and Holders are referred to the Indenture and such Act for a statement of
such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. The Notes are general unsecured obligations of the Company and are not
limited as to aggregate principal amount. The Notes, including any Additional Notes issued hereunder, shall contain the terms set forth herein and in the Indenture and shall constitute and be treated as one series of Notes for all purposes. 

5. OPTIONAL REDEMPTION. The Notes are subject to redemption as provided in Article 3 of the Indenture. 

6. MANDATORY REDEMPTION. The Company shall not be required to make mandatory redemption payments with respect to the Notes. 

7. DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in registered form without coupons in denominations of $2,000 and integral
multiples of $1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and
transfer documents and the Company may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The Company need not exchange or register the transfer of any Note or portion of a Note selected for redemption, except
for the unredeemed portion of any Note being redeemed in part. Also, it need not exchange or register the transfer of any Notes for a period of 15 days before a selection of Notes to be redeemed or during the period between a Record Date and the
corresponding Interest Payment Date. 

  
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 8. PERSONS DEEMED OWNERS. The registered Holder of a Note may be treated as its owner for
all purposes. 
 9. AMENDMENT, SUPPLEMENT AND WAIVER. The Indenture or the Notes may be amended or supplemented as provided in
Article 9 of the Base Indenture. 
 10. DEFAULTS AND REMEDIES. The terms of Article 6 of the Base Indenture shall be applicable to
the Notes. 
 11. TRUSTEE DEALINGS WITH COMPANY. The Trustee, in its individual or any other capacity, may make loans to, accept
deposits from, and perform services for the Company or its Affiliates, and may otherwise deal with the Company or its Affiliates, as if it were not the Trustee. 

12. NO RECOURSE AGAINST OTHERS. A director, officer, employee, incorporator or shareholder of the Company, as such, shall not have any
liability for any obligations of the Company under the Notes or the Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The
waiver and release are part of the consideration for the issuance of the Notes. 
 13. AUTHENTICATION. This Note shall not be valid
until authenticated by the manual signature of the Trustee or an authenticating agent. 
 14. ABBREVIATIONS. Customary abbreviations
may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (=
Uniform Gifts to Minors Act). 
 15. CUSIP NUMBERS. Pursuant to a recommendation promulgated by the Committee on Uniform Security
Identification Procedures, the Company has caused CUSIP numbers to be printed on the Notes and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such numbers
either as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. 

The Company will furnish to any Holder upon written request and without charge a copy of the Indenture and/or the Registration Rights
Agreement. Requests may be made to: 
 General Motors Financial Company, Inc. 

801 Cherry Street, Suite 3500 

Fort Worth, TX 76102 
 Attention:
Chief Financial Officer 
 THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS NOTE, THE GUARANTEE AND THE
INDENTURE. 

  
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 Assignment Form 

To assign this Note, fill in the form below: (I) or (we) assign and transfer this Note to 

 
  

(Insert assignee’s soc. sec. or tax I.D. no.) 
  

 
  

 
  

 
 (Print or type assignee’s name,
address and zip code) 
 and irrevocably appoint
                                        

 to transfer this Note on the books of the Company. The agent may substitute another to act for him. 

 

					
	Date:	 	                                     
   	 	

							
				
		 	Your Signature:	 	  
	 	

							
		 	(Sign exactly as your name appears on the face of this Note)	 	
			
	Signature Guarantee	 		 	

  
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 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part
of another Global Note or Definitive Note for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	 	 Amount of decrease

in Principal amount

of this Global Note
	 	 Amount of increase

in Principal
 Amount of
this
 Global Note
	  	Principal Amount
of this Global Note
following such
decrease (or
increase)	  	Signature of
authorized officer
of Trustee or Note
Custodian
		 		 		  		  	
		 		 		  		  	

  
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 SUBSIDIARY GUARANTEE 

The Guarantor hereby unconditionally guarantees to each Holder of Notes authenticated and delivered by the Trustee and to the Trustee and its
successors and assigns, irrespective of the validity and enforceability of the Indenture, the Notes or the Obligations of the Company to the Holders or the Trustee under the Notes or under the Indenture, that: (a) the principal of, and premium
and interest on the Notes shall be promptly paid in full when due, whether at maturity, by acceleration, redemption, repurchase or otherwise, and interest on overdue principal of interest on any Note, if any, if lawful and all other Obligations of
the Company to the Holders or the Trustee under the Indenture or under the Notes shall be promptly paid in full or performed, all in accordance with the terms thereof; and (b) in case of any extension of time of payment or renewal of any Notes
or any of such other Obligations, the same will be promptly paid in full when due in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise. Failing payment when due of any amount so
guaranteed, for whatever reason, the Guarantor will obligated to pay the same immediately. 
 The Obligations of the Guarantor to the
Holders of Notes and to the Trustee pursuant to this Subsidiary Guarantee and the Indenture are expressly set forth in Article 10 of the Indenture, and reference is hereby made to such Indenture for the precise terms of this Subsidiary Guarantee.
The terms of Article 10 of the Indenture are incorporated herein by reference. 
 No director, officer, employee, incorporator or
stockholder, as such, past, present or future, of the Guarantor shall have any personal liability under this Subsidiary Guarantee by reason of its status as such director, officer, employee, incorporator or stockholder. 

This is a continuing Subsidiary Guarantee and shall remain in full force and effect and shall be binding upon the Guarantor and its respective
successors and assigns to the extent set forth in the Indenture until full and final payment of all of the Company’s Obligations under the Notes and the Indenture and shall inure to the benefit of the successors and assigns of the Trustee and
the Holders of Notes and, in the event of any transfer or assignment of rights by any Holder of Notes or the Trustee, the rights and privileges herein conferred upon that party shall automatically extend to and be vested in such transferee or
assignee, all subject to the terms and conditions hereof. 
 In certain circumstances more fully described in the Indenture, any Guarantor
may be released from its liability under this Subsidiary Guarantee, and any such release will be effective whether or not noted hereon. 

This Subsidiary Guarantee shall not be valid or obligatory for any purpose until the certificate of authentication on the Note upon which this
Subsidiary Guarantee is noted shall have been executed by the Trustee under the Indenture by the manual signature of one of its authorized officers. 

For purposes hereof, the Guarantor’s liability will be that amount from time to time equal to the aggregate liability of the Guarantor
hereunder, but shall be limited to the lesser of (i) the aggregate amount of the Obligations of the Company under the Notes and the Indenture and (ii) the amount, if any, which would not have (A) rendered the Guarantor
“insolvent” (as such term 

  
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is defined in the federal Bankruptcy Law and in the debtor and creditor law of the State of New York) or (B) left it with unreasonably small capital at the time its Subsidiary Guarantee of
the Notes was entered into, after giving effect to the incurrence of existing Indebtedness immediately prior to such time; provided that, it shall be a presumption in any lawsuit or other proceeding in which the Guarantor is a party that the amount
guaranteed pursuant to its Subsidiary Guarantee is the amount set forth in clause (i) above unless any creditor, or representative of creditors of the Guarantor, or debtor in possession or trustee in bankruptcy of the Guarantor, otherwise
proves in such a lawsuit that the aggregate liability of the Guarantor is limited to the amount set forth in clause (ii). The Indenture provides that, in making any determination as to the solvency or sufficiency of capital of a Guarantor in
accordance with the previous sentence, the right of such Guarantor to contribution from any other Guarantors and any other rights such Guarantor may have, contractual or otherwise, shall be taken into account. 

THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUBSIDIARY GUARANTEE, THE INDENTURE AND THE NOTES. 

Capitalized terms used herein have the same meanings given in the Indenture unless otherwise indicated. 

 

			
	AmeriCredit Financial Services, Inc.
		
	By:	 	  

	Name:	 	Susan B. Sheffield
	Title:	 	Executive Vice President and
		 	Treasurer

  
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