Document:

Exhibit 4.2

WEATHERFORD INTERNATIONAL, INC.,

a Delaware corporation

as Issuer

WEATHERFORD INTERNATIONAL LTD.,

a Bermuda exempted company

as Guarantor

WEATHERFORD INTERNATIONAL LTD.,

a Swiss joint-stock corporation

as Guarantor

and

DEUTSCHE BANK TRUST COMPANY AMERICAS,

as Trustee

FOURTH SUPPLEMENTAL INDENTURE

Dated as of March 31 2013

To

INDENTURE

Dated as of June 18, 2007

 

 

FOURTH SUPPLEMENTAL INDENTURE dated as of March 31, 2013 (this "Supplemental Indenture"), among Weatherford International, Inc., a Delaware corporation (the "Company"), Weatherford International Ltd., a Swiss joint-stock corporation ("Weatherford Switzerland"), Weatherford International Ltd., a Bermuda exempted company ("Weatherford Bermuda" and, together with Weatherford Switzerland, the "Guarantors"), and Deutsche Bank Trust Company Americas, a New York banking corporation, as trustee under the Indenture referred to below (in such capacity, the "Trustee").

RECITALS OF THE COMPANY

WHEREAS, the Company, Weatherford Bermuda and the Trustee are parties to an Indenture dated as of June 18, 2007 (the "Original Indenture") (the Original Indenture, as supplemented from time to time, including without limitation pursuant to this Supplemental Indenture, being referred to herein as the "Indenture");

WHEREAS, the Board of Directors of the Company has determined that it is fair, advisable and in the best interests of the Company to convert its corporate form from a Delaware corporation to a Delaware limited liability company pursuant to Section 266 of the Delaware General Corporation Law (the "DGCL") and Section 18-214 of the Delaware Limited Liability Company Act (the "Act") to be called "Weatherford International, LLC" (the "Conversion"), and has recommended approval of the Conversion to the stockholder of the Company and the stockholder has authorized the Conversion;

WHEREAS, under the laws of the State of Delaware, the Company will continue in existence and will remain entitled to and vested in any and all of its rights, privileges and powers following the Conversion, and Section 266(d) of the DGCL provides that the conversion of a Delaware corporation into a Delaware limited liability company shall not be deemed to affect any obligations or liabilities of such corporation incurred prior to such conversion;

WHEREAS, in connection with the Conversion, the Board of Directors of the Company has determined that it is fair, advisable and in the best interests of and beneficial to the Company to enter into this Supplemental Indenture for the purposes of reflecting the Conversion;

WHEREAS, the Conversion will become effective upon the filing with the Delaware Secretary of State of a Certificate of Conversion under Section 266 of the DGCL and a Certificate of Formation of Weatherford International, LLC under Section 18-201 of the Act, the date of effectiveness of the Conversion being referred to herein as the "Effective Date;"

WHEREAS, Section 9.1(10) of the Indenture provides that the Company, when authorized by a Board Resolution, the Guarantors and the Trustee may enter into one or more indentures supplemental to the Original Indenture for any of the purposes set forth in such Section without the consent of any of the Holders;

WHEREAS, the Board of Directors of the Company has determined that this Supplemental Indenture complies with the requirements of Section 9.1(10) of the Original Indenture; and

WHEREAS, this Supplemental Indenture has been duly authorized by all necessary action on the part of the Company, including a Board Resolution.

NOW, THEREFORE, in consideration of the premises, agreements and obligations set forth herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree, for the equal and proportionate benefit of all Holders of the Outstanding Securities, as follows:

 

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ARTICLE 1

Relation to Indenture; Definitions

SECTION 1.01.   Relation to Indenture.

With respect to the Outstanding Securities and the Guarantees thereof by the Guarantors, this Supplemental Indenture constitutes an integral part of the Indenture.

SECTION 1.02.   Definitions.

For all purposes of this Supplemental Indenture, capitalized terms used herein and not otherwise defined herein shall have the meanings assigned thereto in the Original Indenture, as previously supplemented and amended.

SECTION 1.03.   General References.

All references in this Supplemental Indenture to Articles and Sections, unless otherwise specified, refer to the corresponding Articles and Sections of this Supplemental Indenture; and the terms "herein," "hereof," "hereunder" and any other word of similar import refers to this Supplemental Indenture.

ARTICLE 2

Amendments

SECTION 2.01. Amendment to the Company's Name and Entity Type.

As at the Effective Date, all references in the Indenture to "Weatherford International, Inc., a corporation duly organized and existing under the laws of the State of Delaware" shall be amended to refer to "Weatherford International, LLC, a limited liability company duly organized and existing under the laws of the State of Delaware" in each instance.  In addition, all references in the Indenture to "Weatherford International, Inc." shall be amended to refer "Weatherford International, LLC" in each instance, and each reference to the "Company" in the Indenture shall be deemed to refer to Weatherford International, LLC, a limited liability company duly organized and existing under the laws of the State of Delaware.

ARTICLE 3

Miscellaneous

SECTION 3.01.   Certain Trustee Matters.

The recitals contained herein are an integral part of this Supplemental Indenture and shall be taken as the statements of the Company, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Supplemental Indenture or the Outstanding Securities or the proper authorization or the due execution hereof or thereof by the Company.

SECTION 3.02.   Continued Effect.

Except as expressly supplemented and amended by this Supplemental Indenture, the Indenture shall continue in full force and effect in accordance with the provisions thereof, and the Indenture, as supplemented and amended hereby and thereby, is in all respects hereby ratified and confirmed. This Supplemental Indenture and all of its provisions shall be deemed a part of the Indenture, as supplemented and amended, in the manner and to the extent herein and therein provided.

SECTION 3.03.   Governing Law.

This Supplemental Indenture shall be governed by and construed in accordance with the laws of the State of New York.

SECTION 3.04.   Counterparts.

This instrument may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument.

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

WEATHERFORD INTERNATIONAL, INC.

a Delaware corporation

as Issuer

By:            /s/ Joseph C. Henry

Name:            Joseph C. Henry

Title:            Senior Vice President- Legal and Corporate Secretary

WEATHERFORD INTERNATIONAL LTD.

a Swiss joint-stock corporation

as Guarantor

By:            /s/ Joseph C. Henry  

Title:            Senior Vice President, Co-General Counsel and  Corporate Secretary

WEATHERFORD INTERNATIONAL LTD.

a Bermuda exempted company

as Guarantor

By:            /s/ Joseph C. Henry

Title:            Senior Vice President, Co-General Counsel and  Assistant Secretary

DEUTSCHE BANK TRUST COMPANY AMERICAS

By: Deutsche Bank National Trust Company

as Trustee

By:            /s/ Chris Niesz

Name:            Chris Niesz

Title:            Associate

By:            /s/ Jeffrey Schoenfeld

Name:            Jeffrey Schoenfeld

Title:            Assistant Vice President

 

4MDSO-3.31.2013-EX 10.1

MEDIDATA SOLUTIONS, INC.
RESTRICTED STOCK AGREEMENT
AGREEMENT made as of the __ day of ______________, 20__, by and between MEDIDATA SOLUTIONS, INC. (the “Company”), and ___________________ (the “Participant”).
1.Award. In accordance with the Medidata Solutions, Inc. 2009 Long-Term Incentive Plan (the “Plan”), the Company has made a restricted stock award to the Participant for ______ shares of the Company’s common stock (the “Shares”). The award and the Shares are subject to the provisions of the Plan and, to the extent not inconsistent with the Plan, the terms and conditions of this Agreement. Capitalized terms that are used but not defined in this Agreement shall have the meanings ascribed to them by the Plan.
2.    Vesting of Shares. Except as otherwise provided herein or the Plan, the Shares will become vested in _________ equal annual installments commencing on the first anniversary of the date hereof, subject to the Participant’s continuous employment or other service with the Company or a Subsidiary on the applicable vesting date.  [Notwithstanding the foregoing, no Shares will become vested hereunder if the Company fails to achieve positive EBITDAO for [insert year].  For this purpose, EBITDAO is defined as the Company’s earnings before interest, taxes, depreciation, amortization and stock based compensation expense, calculated in accordance with GAAP, determined without giving effect to changes in accounting rules, litigation settlement expenses and other extraordinary and nonrecurring items.  The determination whether the Company has positive EBITDAO for the year shall be made by the Committee following completion of the Company’s audited financial statements for the year.]
3.    Termination of Employment. 
(a)    General. Except as provided in (b) below, unless the Committee, acting in its sole and absolute discretion, determines otherwise, upon the termination of the Participant’s employment and other service with the Company and its Subsidiaries (“Termination of Employment”), the Participant will forfeit all right, title and interest in the unvested Shares. If unvested Shares are forfeited, any certificate or book entry for such Shares will be automatically canceled on the books and records of the Company without further action by the Participant. 
(b)    Death or Disability. If the Participant’s employment terminates because of the Participant’s death or if the Company terminates the Participant’s employment by reason of “disability” (as defined below), any unvested Shares then held by the Participant will become fully vested and the restrictions thereon shall lapse as of the date of such termination of employment. For the purpose of this Agreement, the term “disability” means the inability of the Participant to perform the essential duties of the Participant’s employment with the Company or a subsidiary for a period of 120 consecutive days or an aggregate of 180 days during any twelve-month period, by reason of a physical or mental illness or injury, as determined in the good faith by the Committee acting in accordance with its discretionary authority under the Plan. 
4.    Transfer Restrictions. The Participant may not sell, assign, transfer, pledge, hedge, hypothecate, encumber or dispose of in any way (whether by operation of law or otherwise) any unvested Shares, and unvested Shares shall not be subject to execution, attachment or similar process. Any attempt by the Participant or any other person claiming against, through or under the Participant to cause unvested Shares to be transferred or assigned in any manner and for any purpose not permitted hereunder or under the Plan shall be null and void and without effect upon the Company, the Participant or any other person.
5.    Dividends and Voting Rights. [No dividends will be payable on unvested Shares; however, the Participant will be credited with dividend equivalents equal to the amount or value of the dividends that would have been paid on the unvested Shares if they were vested. The dividend equivalents, if any, will be credited to a bookkeeping account in the name of the Participant. The “dividend equivalent” amounts will be subject to substantially the same vesting, forfeiture and other terms and conditions applicable to the corresponding unvested Shares. Dividend equivalent amounts credited with respect to unvested Shares that become vested will be payable to the Participant within 90 days after the date the corresponding unvested Shares become vested.] The Participant will be entitled to exercise voting rights with respect to the unvested Shares.
6.    Issuance of Shares; Removal of Restrictions and Conditions. The Participant is the record owner of the Shares on the Company’s books, subject to the restrictions and conditions set forth in this Agreement. By executing this Agreement, the Participant expressly authorizes the Company to cancel, reacquire, retire or retain, at its election, any unvested Shares if and when they are forfeited in accordance with this Agreement. The Participant will execute and deliver such other documents and take such other actions, if any, as the Company may reasonably request in order to evidence such action with respect to any unvested Shares that are forfeited. If, as and when Shares become vested, and subject to the satisfaction of applicable withholding and other legal requirements, the vested Shares will no longer be subject to the transfer restrictions and other conditions contained in this Agreement and the Company’s books and, as applicable, stock certificates representing the Shares will be updated accordingly. 
7.    Withholding. Notwithstanding anything to the contrary contained herein, the vesting of Shares covered by this Agreement shall be subject to and conditioned upon the satisfaction by the Participant of applicable tax withholding obligations. The Company and its Subsidiaries may require the Participant to remit an amount sufficient to satisfy applicable withholding taxes or deduct or withhold such amount from any payments otherwise owed the Participant (whether or not under this Agreement or the Plan). The Participant expressly authorizes the Company to deduct from any compensation or any other payment of any kind due to the Participant, including withholding otherwise vested Shares, for the amount of any federal, state, local or foreign taxes required by law to be withheld in connection with the vesting of Shares; provided, however, that the value of the shares withheld may not exceed the statutory minimum withholding amount required by law.
8.    Provisions of the Plan Control. This Agreement is subject to all the terms, conditions and provisions of the Plan and to such rules, regulations and interpretations as may be established or made by the Committee acting within the scope of its authority and responsibility under the Plan. The Participant acknowledges receipt of a copy of the Plan prior to execution of this Agreement. The applicable provisions of the Plan shall govern in any situation where this Agreement is silent or where the applicable provisions of this Agreement are contrary to or not reconcilable with such Plan provisions.
9.    No Employment Rights. Nothing contained herein or in the Plan shall confer upon the Participant any right with respect to the continuation of the Participant’s employment or other service with the Company or a Subsidiary or interfere in any way with the right of the Company and its Subsidiaries at any time to terminate such employment or other service or to increase or decrease, or otherwise adjust, the Participant’s compensation and any other terms and conditions of the Participant’s employment or other service.
10.    Committee Authority. The Committee under the Plan shall have complete discretion in the exercise of its rights, powers, and duties under this Agreement. Any interpretation or construction of any provision of, and the determination of any question arising under, this Agreement shall be made by the Committee in its discretion and such exercise shall be final, conclusive, and binding. The Committee may designate any individual or individuals to perform any of its functions hereunder.
11.    Successors. This Agreement shall be binding upon, and inure to the benefit of, any successor or successors of the Company, the Participant and any beneficiary of the Participant.
12.    Entire Agreement. This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and may not be amended, except as provided in the Plan, other than by a written instrument executed by the parties hereto.
13.    Governing Law. All rights and obligations under this Agreement and the Plan shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to its principles of conflict of laws.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.
MEDIDATA SOLUTIONS, INC.  
 
 
 
By: ___________________________ 
 
 
 
______________________________ 
Participant

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