Document:

EXHIBIT 4.1

 

 

SECOND SUPPLEMENTAL INDENTURE

 

SECOND SUPPLEMENTAL INDENTURE, dated as of January 12, 2015 (this “Second Supplemental Indenture”), among Albemarle Corporation, a Virginia corporation (the “Company”), whose principal office is located at 451 Florida Street, Baton Rouge, Louisiana 70801, Rockwood Specialties Group, Inc., a Delaware corporation (the “Issuer”), whose principal office is located at 451 Florida Street, Baton Rouge, Louisiana 70801, and Wells Fargo Bank, National Association, as trustee (the “Trustee”).

 

W I T N E S S E T H

 

WHEREAS, the Issuer issued its 4.625% Senior Notes due 2020 (the “Notes”) on September 25, 2012, pursuant to an Indenture, dated as of September 25, 2012 (as amended and supplemented, the “Indenture”), among the Issuer, Rockwood Holdings, Inc. (“Rockwood”) and the Trustee, as supplemented by the first supplemental indenture, dated as of September 25, 2012 (the “First Supplemental Indenture”), among the Issuer, the Guarantors party thereto and the Trustee; and

 

WHEREAS, the Company desires to provide its Guarantee with respect to the Notes; and

 

WHEREAS, Section 10.1(a)(6) of the First Supplemental Indenture expressly permits the Issuer and the Trustee, subject to certain conditions, to enter into one or more supplemental indentures for the purposes, inter alia, of adding a Guarantee of the Notes, and permits the execution of such supplemental indentures without the consent of the Holders of any Notes then outstanding; and

 

WHEREAS, for the purposes recited above, and pursuant to due corporate action, the Company and the Issuer have duly determined to execute and deliver to the Trustee this Second Supplemental Indenture; and

 

WHEREAS, all conditions and requirements necessary to make this Second Supplemental Indenture a valid instrument in accordance with its terms have been done and performed, and the execution and delivery hereof have been in all respects duly authorized.

 

NOW, THEREFORE, in consideration of the premises, the Company, the Issuer and the Trustee mutually covenant and agree as follows:

 

ARTICLE 1. DEFINITIONS.

 

1.1         All terms contained in this Second Supplemental Indenture shall, except as specifically provided herein or except as the context may otherwise require, have the meanings given to such terms in the Indenture.

 

  

1

  

 

ARTICLE 2. GUARANTEE

 

2.1         Subject to the provisions hereof, the Company hereby agrees, jointly and severally with all existing Guarantors, to fully and unconditionally guarantee, on an unsecured senior basis, the Issuer’s obligations under the Notes on the terms, and subject to the conditions of, Article Nine of the Indenture and Article IX of the First Supplemental Indenture and to be bound by all other applicable provisions of the Indenture and the Notes. For the avoidance of doubt, the provisions of Article Four and Article Five of the Indenture and Article IV and Article V of the First Supplemental Indenture shall not be applicable to the Company.

 

ARTICLE 3. MISCELLANEOUS.

 

3.1         Ratification of Indenture.  The Indenture, as supplemented by this Second Supplemental Indenture, is in all respects ratified and confirmed, and this Second Supplemental Indenture shall be deemed a part of the Indenture in the manner and to the extent herein and therein provided.

 

3.2         Governing Law.  This Second Supplemental Indenture and each Guarantee shall be governed by, and construed in accordance with, the laws of the State of New York.

 

3.3         Counterparts.  This Second Supplemental Indenture may be executed in several counterparts, each of which shall be an original, and all collectively but one and the same instrument.

 

3.4         The Trustee.  The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Second Supplemental Indenture or for or in respect of the recitals contained herein, all of which are made solely by the Company and the Issuer.  All rights, privileges, protections, indemnities and benefits granted or afforded to the Trustee under the Indenture shall be deemed incorporated herein by this reference and shall be applicable to all actions taken, suffered or omitted by the Trustee under this Second Supplemental Indenture.

 

[Signature page follows]

 

 

 

 

 

 

  

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IN WITNESS WHEREOF, the parties hereto have caused this Second Supplemental Indenture to be executed as of the date first above written.

 

	 	 
ALBEMARLE CORPORATION, as Guarantor

	 
	 	 	 	 	 
	
 

	
By: 

	/s/ Karen G. Narwold	 
	 	Name:	Karen G. Narwold	 
	 	Title:	
Senior Vice President, General Counsel, Corporate & Governmental Affairs, Corporate Secretary

	 
	 	 	 	 	 

 

	 	 
ROCKWOOD SPECIALTIES GROUP, INC., as Issuer

	 
	 	 	 	 	 
	
 

	
By: 

	/s/ Karen G. Narwold	 
	 	Name:	Karen G. Narwold	 
	 	Title:	President, Treasurer and Secretary	 
	 	 	 	 	 

 

 

 

 

 

 

 

 

 

 

  

  

  

 

  

	 	 
WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee

	 
	 	 	 	 	 
	
 

	
By: 

	/s/ Raymond Delli Colli 	 
	 	Name:	Raymond Delli Colli	 
	 	Title :	Vice PresidentEX-10.1

AMENDMENT NO. 1 TO CREDIT AGREEMENT

This AMENDMENT NO. 1 TO CREDIT AGREEMENT (“Agreement”) dated as of January 9, 2015
(“Effective Date”) is by and among Patterson – UTI Energy, Inc., a Delaware corporation
(“Borrower”), the subsidiaries of the Borrower party hereto (together with the Borrower,
the “Loan Parties”), the Lenders (as defined below), and Wells Fargo Bank, N.A., as
administrative agent (in such capacity, the “Administrative Agent”) for the Lenders, as the
issuer of letters of credit under the Credit Agreement referred to below (in such capacity, the
“L/C Issuer”), and as the swing line lender under the Credit Agreement referred to below
(in such capacity, the “Swing Line Lender”).

RECITALS

A. Reference is hereby made to that certain (i) Credit Agreement dated as of September 27,
2012 among the Borrower, the Administrative Agent, the L/C Issuer, the Swing Line Lender and the
financial institutions party thereto from time to time, as lenders (the “Lenders”), as
heretofore amended (as so amended, the “Credit Agreement”) and (ii) Continuing Guaranty
dated as of September 27, 2012 and delivered by the Guarantors signatory thereto (the
“Guaranty”).

B. The Borrower has requested that the Lenders make certain amendments to the Credit Agreement
and the Guaranty as set forth below.

C. The Borrower also has requested that the Lenders consent to the release of Patterson-UTI
Drilling International, Inc. (“Patterson International”) from its obligations under the
Guaranty as it would qualify as an Excluded Subsidiary (as defined in Credit Agreement, as amended
hereby).

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

Section 1. Defined Terms; Interpretation and Provisions. As used in this Agreement,
each of the terms defined in the opening paragraph and the Recitals above shall have the meanings
assigned to such terms therein. Each term defined in the Credit Agreement, as amended hereby, and
used herein without definition shall have the meaning assigned to such term in the Credit
Agreement, as amended hereby, unless expressly provided to the contrary. Article, Section,
Schedule, and Exhibit references are to Articles and Sections of and Schedules and Exhibits to this
Agreement, unless otherwise specified. The words “hereof”, “herein”, and “hereunder” and words of
similar import when used in this Agreement shall refer to this Agreement as a whole and not to any
particular provision of this Agreement. The term “including” means “including, without
limitation”. Paragraph headings have been inserted in this Agreement as a matter of convenience
for reference only and it is agreed that such paragraph headings are not a part of this Agreement
and shall not be used in the interpretation of any provision of this Agreement

Section 2. Amendments to Credit Agreement.

(a) Section 1.01 (Defined Terms) of the Credit Agreement is hereby amended by
replacing the defined term for “Change of Control” in its entirety with the following:

"Change of Control” means an event or series of events by which:

(a) any “person” or “group” (as such terms are used in Sections 13(d)
and 14(d) of the Securities Exchange Act of 1934, but excluding any employee
benefit plan of such person or its subsidiaries, and any person or entity acting in
its capacity as trustee, agent or other fiduciary or administrator of any such plan)
becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the
Securities Exchange Act of 1934, except that a person or group shall be deemed to
have “beneficial ownership” of all securities that such person or group has the
right to acquire (such right, an “option right”), whether such right is exercisable
immediately or only after the passage of time), directly or indirectly, of 25% or
more of the equity securities of the Borrower entitled to vote for members of the
board of directors or equivalent governing body of the Borrower on a fully-diluted
basis (and taking into account all such securities that such person or group has the
right to acquire pursuant to any option right); or

(b) during any period of 12 consecutive months, a majority of the members of
the board of directors or other equivalent governing body of the Borrower cease to
be composed of individuals (i) who were members of that board or equivalent
governing body on the first day of such period, (ii) whose election or nomination to
that board or equivalent governing body was approved by individuals referred to in
clause (i) above constituting at the time of such election or nomination at least a
majority of that board or equivalent governing body or (iii) whose election or
nomination to that board or other equivalent governing body was approved by
individuals referred to in clauses (i) and (ii) above constituting at the time of
such election or nomination at least a majority of that board or equivalent
governing body.

(b) Section 1.01 (Defined Terms) of the Credit Agreement is hereby further amended by
replacing the defined term for “Foreign Subsidiary” in its entirety with the following:

"Foreign Subsidiary” means any Subsidiary (other than a Domestic Subsidiary) that is
treated as a controlled foreign corporation under Section 957 of the Code.

(c) Section 1.01 (Defined Terms) of the Credit Agreement is hereby further amended by
replacing the defined term for “Guarantor” in its entirety with the following:

"Guarantor” means (a) as of the Closing Date, each of the Domestic Subsidiaries
identified on Schedule 5.13 other than Ambar Lone Star Fluid Services LLC, and (b)
after the Closing Date, any Subsidiary of the Company required to execute a Guaranty under
Section 6.12 hereof; provided, however, any Person constituting a Guarantor as
described in the preceding portion of this definition shall cease to constitute a Guarantor
when it is released and discharged from its obligations under the Guaranty pursuant to the
terms hereof.

(d) Section 1.01 (Defined Terms) of the Credit Agreement is hereby further amended by
adding the following new terms to appear in alphabetical order therein:

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

“Excluded Subsidiary” means (a) any Domestic Subsidiary that owns no material assets
other than the Equity Interests of one or more Foreign Subsidiaries and Indebtedness owed by
a Foreign Subsidiary to such Domestic Subsidiary incurred in connection with the
capitalization of such Foreign Subsidiary, (b) any Domestic Subsidiary that owns no material
assets other than the Equity Interests of one or more Subsidiaries that qualify as an
Excluded Subsidiary under the previous clause (a) and Indebtedness owed by such Excluded
Subsidiary to such Domestic Subsidiary incurred in connection with the capitalization of
such Excluded Subsidiary, and (c) any Immaterial Subsidiary, but, in any event under the
preceding clause (a), (b) and (c), only if such Domestic Subsidiary or Immaterial
Subsidiary, as applicable, does not Guarantee any Indebtedness of any Loan Party.

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

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

(e) Section 5.06 of the Credit Agreement is hereby amended by replacing in its entirety its
clause (a) with the following:

“(a) other than as set forth on Schedule A to the Amendment No. 1 to Credit Agreement, dated
as of January 9, 2015, which amends this Agreement, purport to affect or pertain to this
Agreement or any other Loan Document, or any of the transactions contemplated hereby, or”

(f) Section 6.12 (Additional Guarantors) of the Credit Agreement is hereby replaced in
its entirety with the following:

6.12 Additional Guarantors. Notify the Administrative Agent within 10 days after the date
that any Person becomes a Domestic Subsidiary other than an Excluded Subsidiary or any
Domestic Subsidiary that was previously an Excluded Subsidiary ceases to be an Excluded
Subsidiary, and within such 10-day period, also cause such Domestic Subsidiary to (a) become
a Guarantor by executing and delivering to the Administrative Agent a counterpart of the
Guaranty or such other document as the Administrative Agent shall deem appropriate for such
purpose, and (b) deliver to the Administrative Agent documents of the types referred to in
clauses (iii) and (iv) of Section 4.01(a) and favorable opinions of counsel to such Person
(which shall cover, among other things, the legality, validity, binding effect and
enforceability of the documentation referred to in clause (a)), all in form, content and
scope reasonably satisfactory to the Administrative Agent.

(g) Section 7.03 (Indebtedness of Subsidiaries) of the Credit Agreement is hereby
amended by replacing in its entirety its clause (e) with the following:

“(e) Guarantees in respect of Senior Notes Indebtedness in an aggregate principal amount of
up to $1,000,000,000;”

(h) Section 9.10 (Guaranty Matters) of the Credit Agreement is hereby amended by
replacing in its entirety its initial paragraph with the following:

“The Lenders and the L/C Issuers irrevocably authorize the Administrative Agent, at its
option and in its discretion, to release and discharge any Guarantor from its obligations
under the Guaranty if such Person (i) ceases to be a Subsidiary as a result of a transaction
permitted hereunder, (ii) becomes an Excluded Subsidiary or (iii) is released and discharged
as otherwise agreed by the Required Lenders or all Lenders, as the case may be.”

Section 3. Loan Parties’ Representations and Warranties. The Borrower acknowledges,
represents, warrants and agrees as to itself and all other Loan Parties, and each other Loan Party
acknowledges, represents, warrants and agrees as to itself, that: (a) after giving effect to this
Agreement, the representations and warranties contained in the Credit Agreement, as amended hereby,
and the representations and warranties contained in the other Loan Documents are true and correct
in all material respects on and as of the Effective Date and on the date hereof as if made on as
and as of such date except to the extent that any such representation or warranty expressly relates
solely to an earlier date, in which case such representation or warranty is true and correct in all
material respects as of such earlier date; (b) the execution, delivery and performance of this
Agreement are within the limited liability company or corporate power and authority of such Loan
Party and have been duly authorized by appropriate limited liability company and corporate action
and proceedings; (c) this Agreement constitutes the legal, valid, and binding obligation of such
Loan Party enforceable in accordance with its terms, except as limited by applicable bankruptcy,
insolvency, reorganization, moratorium, or similar laws affecting the rights of creditors generally
and general principles of equity, and no portion of the Obligations are subject to avoidance,
subordination, recharacterization, recovery, attack, offset, counterclaim, or defense of any kind;
(d) there are no governmental or other third party consents, licenses and approvals required to be
made or obtained by it in connection with its execution, delivery, performance, validity and
enforceability of this Agreement; and (e) no Defaults or Events of Default exist. The Borrower
acknowledges, represents, warrants and agrees that Patterson International is an Excluded
Subsidiary as defined in this Agreement.

Section 4. Conditions to Effectiveness. This Agreement shall become effective on the
Effective Date and enforceable against the parties hereto upon the receipt by the Administrative
Agent of multiple original counterparts of this Agreement executed and delivered by duly authorized
officers of the Borrower, the Guarantors, the Administrative Agent, and the Required Lenders.

Section 5. Acknowledgments and Agreements.

(a) Each Loan Party acknowledges that on the date hereof all outstanding Obligations
are payable in accordance with their terms and each Loan Party waives any defense, offset,
counterclaim or recoupment with respect thereto. The Administrative Agent, the L/C Issuer Lender,
the Swing Line Lender and the Lenders hereby expressly reserve all of their rights, remedies, and
claims under the Loan Documents. Nothing in this Agreement shall constitute a waiver or
relinquishment of (i) any Default or Event of Default under any of the Loan Documents, (ii) any of
the agreements, terms or conditions contained in any of the Loan Documents, (iii) any rights or
remedies of the Administrative Agent, the Issuing Lender, the Collateral Agent or any Lender with
respect to the Loan Documents, or (iv) the rights of the Administrative Agent, the L/C Issuer
Lender, the Swing Line Lender or any Lender to collect the full amounts owing to them under the
Loan Documents.

(b) The Borrower, each Guarantor, Administrative Agent, L/C Issuer Lender, Swing
Line Lender and each Lender does hereby adopt, ratify, and confirm the Credit Agreement, as amended
hereby, and acknowledges and agrees that the Credit Agreement, as amended hereby, is and remains in
full force and effect, and the Borrower and the Guarantors acknowledge and agree that their
respective liabilities and obligations under the Credit Agreement, as amended hereby, and the
Guaranty, are not impaired in any respect by this Agreement.

(c) From and after the Effective Date, all references to the Credit Agreement and
the Loan Documents shall mean the Credit Agreement and such Loan Documents as amended by this
Agreement.

(d) This Agreement is a Loan Document for the purposes of the provisions of the
other Loan Documents.

Section 6. Reaffirmation of and Amendment to the Guaranty.

(a) Each Guarantor party hereto (which, for the avoidance of doubt, excludes Patterson
International) hereby ratifies, confirms, acknowledges and agrees that its obligations under the
Guaranty are in full force and effect and that such Guarantor continues to unconditionally and
irrevocably guarantee the full and punctual payment, when due, whether at stated maturity or
earlier by acceleration or otherwise, all of the Guaranteed Obligations (as defined in the
Guaranty) as such Guaranteed Obligations may have been amended by this Agreement, and its execution
and delivery of this Agreement does not indicate or establish an approval or consent requirement by
such Guarantor under the Guaranty, in connection with the execution and delivery of amendments,
consents or waivers to the Credit Agreement or any of the other Loan Documents.

(b) The Guaranty is hereby amended by inserting the following new sentence at the end of
Section 2(a):

“Notwithstanding anything contained herein to the contrary, in no event shall the
Guaranteed Obligations include Excluded Swap Obligations.”

Section 7. Release from Guaranty. The Lenders consent to the release and discharge
of, and the Administrative Agent hereby releases and discharges, Patterson International from all
obligations and liabilities under the Guaranty. The foregoing is a release and discharge of
Patterson International only, and nothing in this Agreement shall be construed to be a release of
any obligations of the Borrower, any other Guarantor or any other Person under the Credit Agreement
or any other Loan Document to, or for the benefit of the Administrative Agent, the L/C Issuer, the
Swing Line Lender or any other Lender. Furthermore, nothing in this Agreement shall be deemed or
construed to in any manner be a permanent release and discharge of Patterson International from
hereafter being required timely to become, and the Borrower from being required to cause Patterson
International hereafter timely to become, a Guarantor pursuant to the terms of the Credit
Agreement, as amended and in effect, whether for failure to qualify as an Excluded Subsidiary (as
defined in Credit Agreement, as amended hereby) or otherwise.

Section 8. Counterparts. This Agreement may be signed in any number of counterparts,
each of which shall be an original and all of which, taken together, constitute a single
instrument. This Agreement may be executed by facsimile signature or other electronic imaging
means, and all such signatures shall be effective as originals.

Section 9. Successors and Assigns. This Agreement shall be binding upon and inure to
the benefit of the parties hereto and their respective successors and assigns permitted pursuant to
the Credit Agreement.

Section 10. Severability. In case one or more provisions of this Agreement or the
other Loan Documents shall be invalid, illegal or unenforceable in any respect under any applicable
Legal Requirement, the validity, legality, and enforceability of the remaining provisions contained
herein or therein shall not be affected or impaired thereby.

Section 11. Governing Law. This Agreement shall be governed by, and construed and
enforced in accordance with, the laws of the State of New York; provided that, the Administrative
Agent, the L/C Issuer, the Swing Line Lender and each Lender shall retain all rights arising under
applicable federal law.

Section 12. ENTIRE AGREEMENT. THIS WRITTEN AGREEMENT AND THE OTHER LOAN DOCUMENTS
REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR,
CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.

THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.

[Signature pages follow.]

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

BORROWER:

PATTERSON-UTI ENERGY, INC.

By: /s/ John E. Vollmer III

John E. Vollmer III

Senior Vice President—Corporate Development, Chief Financial Officer and Treasurer

GUARANTORS:

PATTERSON PETROLEUM LLC

PATTERSON-UTI DRILLING COMPANY LLC

PATTERSON-UTI MANAGEMENT SERVICES, LLC

UNIVERSAL WELL SERVICES, INC.

UNIVERSAL PRESSURE PUMPING, INC.

Each by: /s/ John E. Vollmer III

Senior Vice President—Corporate Development, Chief Financial Officer and Treasurer

1

ADMINISTRATIVE AGENT/LENDER/L/C ISSUER/SWING LINE
LENDER/LENDERS:

WELLS FARGO BANK, N.A.,

as the Administrative Agent, the L/C Issuer and the Swing
Line Lender

By: /s/ Christina Faith

Name: Christina Faith

Title: Director

2

THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.,

as a Lender

By: /s/ Maria Ferradas

Name: Maria Ferradas

Title: Vice President

3

REGIONS BANK,

as a Lender

By: /s/ Richard S. Kaufman

Name: Richard S. Kaufman

Title: Senior Vice President

4

COMERICA BANK,

as a Lender

By: /s/ Evan Elsea 

Name: Evan Elsea

Title: Relationship Manager

5

U.S. BANK, NATIONAL ASSOCIATION,

as a Lender

By: /s/ Patrick Jeffrey

Name: Patrick Jeffrey

Title: Vice President

6

BANK OF AMERICA, N.A.,

as a Lender and an L/C Issuer

By: /s/ Anthony A. Eastman

Name: Anthony A. Eastman

Title: Vice President

7

HSBC BANK USA, N.A.,

as a Lender

By: /s/ Michael Bustios

Name: Michael Bustios

Title: Vice President 20556

8

SUMITOMO MITSUI BANKING CORPORATION,

as a Lender

By: /s/ James D. Weinstein

Name: James D. Weinstein

Title: Managing Director

9

THE BANK OF NOVA SCOTIA,

as a Lender

By: /s/ John Frazell

Name: John Frazell

Title: Director

10

AMEGY BANK NATIONAL ASSOCIATION,

as a Lender

By: /s/ James Day

Name: James Day

Title: Vice President

11

BOKF, NA dba BANK OF TEXAS,

as a Lender

By: /s/ Marian Livingston

Name: Marian Livingston

Title: Senior Vice President

12

MERCANTIL COMMERCEBANK N.A.,

as a Lender

By: 

Name:

Title:

13

UMB BANK, N.A.,

as a Lender

By: 

Name:

Title:

14

BANK OF TAIWAN, LOS ANGELES BRANCH,

as a Lender

By: 

Name:

Title:

15

CHANG HWA COMMERCIAL BANK LTD., LOS ANGELES BRANCH,

as a Lender

By: 

Name:

Title:

16

E.SUN COMMERCIAL BANK, LTD., LOS ANGELES BRANCH,

as a Lender

By: 

Name:

Title:

17

MEGA INTERNATIONAL COMMERCIAL BANK CO., LTD. NEW YORK

BRANCH,

as a Lender

By: 

Name:

Title:

18

MEGA INTERNATIONAL COMMERCIAL BANK, CO., LTD. SILICON VALLEY

BRANCH,

as a Lender

By: 

Name:

Title:

19

SCHEDULE A

CERTAIN LITIGATION

Ironworkers Local No. 25 Pension Fund, Plaintiff, v Marc. S. Siegel, Kenneth N.
Berns, Charles O. Buckner, Curtis W. Huff, Terry H. Hunt, Michael W. Conlon, Cloyce
A. Talbott, and Wells Fargo Bank, N.A., Defendants, and Patterson-UTI Energy, Inc.,
Nominal Defendant, filed in the Court of Chancery of the State of Delaware,
Plaintiff, on behalf of itself and all other similarly situated public stockholders
of Patterson-UTI Energy, Inc. (the “Company”), has brought a verified class and
derivative complaint alleging that members of the Company’s board of directors
breached their fiduciary duties by allowing “Dead Hand Proxy Put” language in the
Company’s Credit Agreement, and that Wells Fargo Bank, N.A., the administrative
agent under the Company’s Credit Agreement, aided and abetted the directors’ breach
of fiduciary duties. Plaintiff seeks a declaration that the “Dead Hand Proxy Put”
language in the Company’s Credit Agreement is invalid, unenforceable and severable;
a declaration that the directors breached their fiduciary duties by allowing such
language; an injunction against Wells Fargo Bank, N. A. from enforcing the “Dead
Hand Proxy Put” language; and attorney’s fees and other relief.

20

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