Document:

EX-10.1

 Exhibit 10.1 

Execution Version 

AMENDMENT NO. 1 TO REGISTRATION RIGHTS AGREEMENT 

This AMENDMENT NO. 1 (this “Amendment”), dated as of October 25, 2019 by and between McDermott International, Inc., a
corporation organized under the laws of the Republic of Panama, and the parties specified on the signature pages hereto, and constitutes an amendment to that certain Registration Rights Agreement, dated as of November 29, 2018 (the
“Registration Rights Agreement”), between the Company and the purchasers signatory thereto. Capitalized terms used but not otherwise defined in this Amendment shall have the meanings given to such terms in the Registration Rights
Agreement. 
 WHEREAS, Section 3.04 of the Registration Rights Agreement provides that the Company and the Holders of more than 50% of
the Registrable Securities may amend, subject to certain conditions provided therein, the Registration Rights Agreement; 
 WHEREAS, the
undersigned Holders own of record all of the outstanding Registrable Securities; and 
 WHEREAS, the Company and such Holders desire to
amend the Registration Rights Agreement as set forth herein. 
 NOW, THEREFORE, in consideration of the mutual agreements contained herein
and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the parties hereto agree to amend the Registration Rights Agreement as set forth herein. 

ARTICLE I 
 AMENDMENTS

 Section 1.01    Amendment of Registration Rights Agreement. The Registration Rights Agreement is
hereby amended by: 
 (a) Deleting and replacing the definition of “Registrable Securities in Section 1.01 with the following:

 “Registrable Securities” means, subject to Section 1.02, (i) the Common Shares issued or issuable upon the
exercise of the Warrants (including the New Warrants) and (ii) the Common Shares issued in lieu of a cash redemption payment as a result of a Cash Election (as defined in the Certificate of Designation). 

(b) Adding the following definition to Section 1.01: 

“New Warrants” means the Series A Warrants, and all warrants issued upon division or combination of, or in substitution for
such warrants, issued pursuant to the Warrant Agreement, dated October 25, 2019, among the Company, Computershare Inc. and Computershare Trust Company, N.A. The New Warrants shall be deemed to be “Warrants”, and references to the
“Warrant Agreement” shall be deemed to refer to both Warrant Agreements, in each case for all purposes of this Agreement. 
 (c)
Adding to the end of Section 2.01(a) the following: 
 Notwithstanding anything to the contrary herein, the Company shall not be
required to file a registration statement covering Registrable Securities that are Common Shares issuable upon exercise of the New Warrants prior to the earlier of (i) the date on which the Company files its Form
10-Q for the quarter ended September 30, 2019 and (ii) December 2, 2019. 

 ARTICLE II 

MISCELLANEOUS 

Section 2.01    Severability. Any provision of this Amendment that is invalid, illegal or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without invalidating the remaining provisions hereof or affecting or impairing the validity or enforceability of such
provision in any other jurisdiction. 
 Section 2.02     Governing Law. This Amendment shall be governed by
and construed in accordance with the laws of the State of New York (without giving effect to any principles of conflicts of laws thereof that would result in the application of the laws of any other jurisdiction, except to the extent that the New
York conflicts of laws principles would apply applicable laws of the Republic of Panama to internal matters relating to corporations organized thereunder). The Company and the Purchasers each hereby irrevocably and unconditionally: 

(a)    submits for itself in any legal action or proceeding relating solely to this Amendment to the exclusive
jurisdiction of the courts of the State of New York and the Federal courts of the United States of America, in each case located within the Southern District of New York, and appellate courts thereof; 

(b)    consents that any such action or proceeding may be brought in such courts, and waives any objection that it may now
or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same to the extent permitted by applicable law; 

(c)    agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by
registered or certified mail (or any substantially similar form of mail), postage prepaid, to the party, as the case may be, at its address set forth in Section 3.02 of the Registration Rights Agreement or at such other address of which the
other party shall have been notified pursuant thereto; 
 (d)    agrees that nothing herein shall affect the right to
effect service of process in any other manner permitted by applicable law or shall limit the right to sue in any other jurisdiction for recognition and enforcement of any judgment or if jurisdiction in the courts referenced in the foregoing clause
(a) are not available despite the intentions of the parties hereto; 
 (e)    agrees that final judgment in any
such suit, action or proceeding brought in such a court may be enforced in the courts of any jurisdiction to which such party is subject by a suit upon such judgment, provided that service of process is effected upon such party in the
manner specified herein or as otherwise permitted by applicable law; 
 (f)    agrees that to the extent that such party
has or hereafter may acquire any immunity from jurisdiction of any court or from any legal process with respect to itself or its property, such party hereby irrevocably waives such immunity in respect of its obligations under this Amendment to the
extent permitted by applicable law; and 
 (g) IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING IN
RELATION TO THIS AMENDMENT. 
 Section 2.03    Counterparts. This Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of which counterparts, when so executed and delivered, shall be deemed to be an original and all of which counterparts, taken together, shall constitute but one and the same
Agreement. Delivery of an executed counterpart of a signature page to this Amendment by facsimile or .pdf attachment to electronic mail shall be effective as delivery of a manually executed counterpart to this Amendment. 

Section 2.04    Headings. The headings of the Articles and Sections of this Amendment have been inserted for
convenience of reference only, and shall not limit or otherwise affect the meaning hereof. 

Section 2.05    Entire Agreement. The Registration Rights Agreement, as modified by this Amendment,
constitutes the entire understanding of the parties and supersedes all prior agreements, understandings, arrangements, promises and commitments, whether written or oral, express or implied, relating to the subject matter hereof, and all such prior
agreements, understandings, arrangements, promises 

  
 2 

 
and commitments are hereby canceled and terminated. Except as expressly amended by the terms of this Amendment, the Registration Rights Agreement shall remain in full force and effect, and
nothing herein shall be deemed to constitute a waiver of any provision of the Registration Rights Agreement. 
 [Signatures follow on next
page] 

  
 3 

 IN WITNESS WHEREOF, each of the parties has caused this Amendment to be duly executed as of
the date first above written. 
  

			
	MCDERMOTT INTERNATIONAL, INC.
		
	By:	 	 /s/ Stuart A. Spence

	Name:	 	Stuart A. Spence
	Title:	 	 Executive Vice President and
 Chief Financial
Officer

	
	HOLDERS:
	
	WEST STREET CAPITAL PARTNERS VII OFFSHORE INVESTMENTS, L.P.
	
	By: Goldman Sachs & Co. LLC, Duly Authorized Agent of the General Partner
		
	By:	 	 /s/ Chris Crampton

	Name:	 	Chris Crampton
	Title:	 	Managing Director
	
	WEST STREET CAPITAL PARTNERS VII INVESTMENTS B, L.P.
	
	By: Goldman Sachs & Co. LLC, Duly Authorized Agent of the General Partner
		
	By:	 	 /s/ Chris Crampton

	Name:	 	Chris Crampton
	Title:	 	Managing Director
	
	WEST STREET CAPITAL PARTNERS VII PARALLEL B, L.P.
	
	By: Goldman Sachs & Co. LLC, Duly Authorized Agent of the General Partner
		
	By:	 	 /s/ Chris Crampton

	Name:	 	Chris Crampton
	Title:	 	Managing Director

 Signature Page to Amendment No. 1 to Registration Rights Agreement 

 
			
	WEST STREET CAPITAL PARTNERS VII B, L.P.
	
	by: Goldman Sachs & Co. LLC, its Attorney-In-Fact
		
	By:	 	 /s/ Chris Crampton

	Name:	 	Chris Crampton
	Title:	 	Managing Director
	
	APICORP MANAGED ACCOUNT INVESTMENT VEHICLE, L.P.
	
	by: Goldman Sachs & Co. LLC, its Attorney-In-Fact
		
	By:	 	 /s/ Chris Crampton

	Name:	 	Chris Crampton
	Title:	 	Managing Director

  
 5EX-10.2

 Exhibit 10.2 

Execution Version 

AMENDMENT NO. 1 TO WARRANT AGREEMENT 

AMENDMENT NO. 1 (this “Amendment”), dated as of October 25, 2019 by and between McDermott International, Inc., a
corporation organized under the laws of the Republic of Panama, and Computershare Inc. a Delaware corporation (“Computershare”), and its wholly owned subsidiary Computershare Trust Company, N.A., a federally chartered trust company
(collectively, the “Warrant Agent”) and constitutes an amendment to that certain Warrant Agreement, dated as of November 29, 2018 (the “Existing Warrant Agreement”), between the Company and the Warrant Agent.
Capitalized terms used but not otherwise defined in this Amendment shall have the meanings given to such terms in the Existing Warrant Agreement. 

WHEREAS, Section 8.04 of the Existing Warrant Agreement provides that the Company and the Warrant Agent may amend, subject to certain
conditions provided therein, the Existing Warrant Agreement with the vote or written consent of the registered holders of the majority of the then outstanding Warrants; 

WHEREAS, the Holders signatory hereto own of record all of the issued and outstanding Warrants; and 

WHEREAS, the parties hereto desire to amend the Existing Warrant Agreement. 

NOW, THEREFORE, in consideration of the mutual agreements contained herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the parties hereto agree to amend the Existing Warrant Agreement as set forth herein. 

ARTICLE I 
 AMENDMENTS

 Section 1.01    Amendment of Existing Warrant Agreement.  

(a)    The Existing Warrant Agreement is hereby amended by deleting and replacing Section 4.01(a) with the
following:  
 (a) Subject to the terms of this Amendment, a Warrant shall be exercisable, at the election of the Holder thereof,
either in full or from time to time in part during the period commencing at the earlier of (i) any Change of Control (as defined in the Certificate of Designation) or the commencement of proceedings for the voluntary or involuntary dissolution,
liquidation or winding up of the Company and (ii) opening of business on October 25, 2019 and until 5:00 p.m., New York City time, on November 29, 2028 (the “Expiration Time”), and shall entitle the Holder
thereof to receive Warrant Shares from the Company. No adjustments as to dividends will be made upon exercise of the Warrants. Each Warrant not exercised prior to the Expiration Time shall become void and all rights thereunder and all rights in
respect thereof under this Amendment shall cease as of such time. The Company shall notify the Warrant Agent in writing upon the occurrence of either of the events described in this Section 4.01(a)(i), and until such written notice is received
by the Warrant Agent, the Warrant Agent may presume conclusively for all purposes that neither of the events described in this Section 4.01(a)(i) has occurred. 

(b)    The Existing Warrant Agreement is hereby amended by deleting and replacing Section 8.04(g) with the
following:  
 (g) If an amendment, supplement or waiver changes the terms of a Warrant, the Company or the Warrant Agent may require
the Holder to deliver it to the Warrant Agent so that the Warrant Agent may place an appropriate notation of the changed terms on the Warrant and return it to the Holder, or exchange it for a new Warrant that reflects the changed terms. The Warrant
Agent may also place an appropriate notation on any Warrant thereafter countersigned. However, the effectiveness of the amendment, supplement or waiver shall not be affected by any failure to annotate or exchange Warrants in this fashion. 

  
 1 

 ARTICLE II 

MISCELLANEOUS 

Section 2.01    Entire Agreement. The Warrant Agreement, as modified by this Amendment, constitutes the
entire understanding of the parties and supersedes all prior agreements, understandings, arrangements, promises and commitments, whether written or oral, express or implied, relating to the subject matter hereof, and all such prior agreements,
understandings, arrangements, promises and commitments are hereby canceled and terminated. Except as expressly amended by the terms of this Amendment, the Warrant Agreement shall remain in full force and effect, and nothing herein shall be deemed to
constitute a waiver of any provision of the Warrant Agreement. 
 Section 2.02    Governing Law; Jurisdiction
and Venue; Waiver of Jury Trial. This Amendment shall be governed by and construed in accordance with the laws of the State of New York (without giving effect to any principles of conflicts of laws thereof that would result in the
application of the laws of any other jurisdiction, except to the extent that the New York conflicts of laws principles would apply applicable laws of the Republic of Panama to internal matters relating to corporations organized thereunder). The
Company, the Warrant Agent and each Holder of a Warrant each hereby irrevocably and unconditionally: 
 (a)    submits
for itself in any legal action or proceeding relating solely to this Amendment or the transactions contemplated hereby, to the exclusive jurisdiction of the courts of the State of New York and the Federal courts of the United States of America; 

(b)    consents that any such action or proceeding may be brought in such courts, and waives any objection that it may now
or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same to the extent permitted by applicable law; 

(c)    agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by
registered or certified mail (or any substantially similar form of mail), postage prepaid, to the party, as the case may be, at its address set forth in Section 8.02 of the Warrant Agreement or at such other address of which the other party
shall have been notified pursuant thereto; 
 (d)    agrees that nothing herein shall affect the right to effect service
of process in any other manner permitted by applicable law or shall limit the right to sue in any other jurisdiction for recognition and enforcement of any judgment or if jurisdiction in the courts referenced in the foregoing clause (a) are not
available despite the intentions of the parties hereto; 
 (e)    agrees that final judgment in any such suit, action or
proceeding brought in such a court may be enforced in the courts of any jurisdiction to which such party is subject by a suit upon such judgment, provided that service of process is effected upon such party in the manner specified herein or
as otherwise permitted by applicable law; 
 (f)    agrees that to the extent that such party has or hereafter may
acquire any immunity from jurisdiction of any court or from any legal process with respect to itself or its property, such party hereby irrevocably waives such immunity in respect of its obligations under this Amendment, to the extent permitted by
applicable law; and 
 (g)    IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING IN
RELATION TO THIS AMENDMENT. 

  
 2 

 Section 2.03    Severability. In case any provision
in this Amendment 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 2.04    Headings. The headings of the Articles and Sections of this Amendment have been inserted for
convenience of reference only and shall not limit or otherwise affect the meaning hereof. 

Section 2.05    Counterparts. This Amendment may be executed in any number of counterparts and by
different parties hereto in separate counterparts, each of which counterparts, when so executed and delivered, shall be deemed to be an original and all of which counterparts, taken together, shall constitute but one and the same Agreement. Delivery
of an executed counterpart of a signature page to this Amendment by facsimile or .pdf attachment to electronic mail shall be effective as delivery of a manually executed counterpart to this Amendment. 

[Signatures follow on next page] 

  
 3 

 IN WITNESS WHEREOF, each of the parties has caused this Amendment to be duly executed as of
the date first above written. 
  

			
	MCDERMOTT INTERNATIONAL, INC.
		
	By:	 	 /s/ Stuart A. Spence

	Name:	 	Stuart A. Spence
	Title:	 	 Executive Vice President and
 Chief Financial
Officer

	
	COMPUTERSHARE INC., and COMPUTERSHARE TRUST COMPANY, N.A
	
	collectively, as Warrant Agent
		
	By:	 	 /s/ Collin Ekeogu

	Name:	 	Collin Ekeogu
	Title:	 	Manager, Corporate Actions
	
	Accepted, agreed and consented to:
	
	WEST STREET CAPITAL PARTNERS VII OFFSHORE INVESTMENTS, L.P.,
	
	by: Goldman Sachs & Co. LLC, its Attorney-In-Fact
		
	By:	 	 /s/ Chris Crampton

	Name:	 	Chris Crampton
	Title:	 	Managing Director
	
	WEST STREET CAPITAL PARTNERS VII – PARALLEL B, L.P.
	
	by: Goldman Sachs & Co. LLC, its Attorney-In-Fact
		
	By:	 	 /s/ Chris Crampton

	Name:	 	Chris Crampton
	Title:	 	Managing Director

 Signature Page to Amendment No. 1 to Warrant Agreement 

 
			
	WEST STREET CAPITAL PARTNERS VII B, L.P.
	
	by: Goldman Sachs & Co. LLC, its Attorney-In-Fact
		
	By:	 	 /s/ Chris Crampton

	Name:	 	Chris Crampton
	Title:	 	Managing Director
	
	APICORP MANAGED ACCOUNT INVESTMENT VEHICLE, L.P.
	
	by: Goldman Sachs & Co. LLC, its Attorney-In-Fact
		
	By:	 	 /s/ Chris Crampton

	Name:	 	Chris Crampton
	Title:	 	Managing Director

 Signature Page to Amendment No. 1 to Warrant Agreement

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