Document:

Exhibit 10.2

 

Execution Version

 

ADDITIONAL LENDER SUPPLEMENT

 

ADDITIONAL LENDER SUPPLEMENT,
dated as of November 22, 2022 (this “Supplement”), by and among each of the signatories hereto, to the Amended
and Restated LC Credit Agreement, dated as of October 17, 2022 (as amended, restated, amended and restated, supplemented or otherwise
modified from time to time, the “Credit Agreement”), among Weatherford International Ltd., a Bermuda exempted company
(“WIL-Bermuda”), Weatherford International, LLC, a Delaware limited liability company (“WIL-Delaware”),
any other Borrower party thereto, Weatherford International plc, an Irish public limited company (“Parent”), the Lenders
from time to time party thereto, Wells Fargo Bank, National Association, as administrative agent for the Lenders, and the Issuing Banks
from time to time party thereto. Capitalized terms used but not otherwise defined herein shall have the respective meanings specified
therefor in the Credit Agreement.

 

W I T N E S S E T H

 

WHEREAS, pursuant to Section 4.13 of
the Credit Agreement, the Borrowers have the right, subject to the terms and conditions thereof, to effectuate from time to time an increase
in the aggregate Commitments under the Credit Agreement by requesting one or more Persons meeting the qualifications set forth in such
Section 4.13 to provide the Specific Incremental Commitment Increase;

 

WHEREAS, the Credit Agreement
provides in Section 4.13 thereof that any Person providing a Specific Incremental Commitment Increase must be a Specific
Additional Lender and otherwise meet the requirements set forth in such Section 4.13;

 

WHEREAS, immediately prior
to giving effect to this Supplement, the undersigned was not a Lender under the Credit Agreement, but now desires to become a party thereto
as a Lender thereunder;

 

NOW, THEREFORE, each of the
parties hereto hereby agrees as follows:

 

1.            The
undersigned agrees to be bound by the provisions of the Credit Agreement as a Lender thereunder and agrees that it shall, as of the date
of this Supplement, become a Lender for all purposes of the Credit Agreement to the same extent as if originally a party thereto, with
a Performance LC Commitment equal to $22,500,000 and a Revolving Credit Commitment equal to $7,500,000 (which shall be available only
for participations in Revolving Performance Letters of Credit and Financial Standby Letters of Credit and not for Loans).

 

2.            The
undersigned (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to execute
and deliver this Supplement and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement,
(ii) it has delivered to Parent and the Administrative Agent the forms required under Sections 5.02(c) and 5.02(e) of
the Credit Agreement and an Assignee Certificate, in each case duly completed and executed by the undersigned, and (iii) it is not
subject under current law to any withholding tax on amounts payable to it under the Credit Agreement; (b) confirms that it has received
a copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant to Section 8.01 thereof,
and has reviewed such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter
into this Supplement; (c) agrees that it will, independently and without reliance upon the Administrative Agent or any other Lender
and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking
or not taking action under the Credit Agreement or any other instrument or document furnished pursuant hereto or thereto; (d) irrevocably
designates, appoints and authorizes the Administrative Agent as the agent of such Lender under the Credit Agreement and the other Loan
Documents; (e) irrevocably authorizes the Administrative Agent to take such actions on its behalf under the provisions of the Credit
Agreement and the other Loan Documents, including execution of the other Loan Documents, and to exercise such powers and perform such
duties as are expressly delegated to the Administrative Agent by the terms of the Credit Agreement and of the other Loan Documents, together
with such actions and powers as are reasonably incidental thereto; and (f) agrees that it will be bound by the provisions of the
Credit Agreement and will perform in accordance with its terms all the obligations which by the terms of the Credit Agreement are required
to be performed by it as a Lender.

 

     

     

    

 

3.            The
undersigned’s address for notices for the purposes of the Credit Agreement is as follows:

 

ATB Financial

Suite 600, 585 8th Ave S.W.

Calgary, AB T2P 1G1

 

4.            The
Borrowers hereby represent and warrant that no Default or Event of Default has occurred and is continuing on and as of the date hereof
both immediately before and after giving effect to the increase in Commitments contemplated herein.

 

5.            Terms
defined in the Credit Agreement shall have their respective defined meanings when used herein.

 

6.            This
Supplement shall be governed by, and construed in accordance with, the laws of the State of New York.

 

7.            This
Supplement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when
so executed shall be deemed to be an original and all of which taken together shall constitute one and the same document.

 

8.            The
Borrowers hereby designate ATB Financial as an Issuing Bank and, immediately upon execution of this Supplement, the parties hereto hereby
agree that ATB Financial shall have an LC Commitment of $30,000,000. This Supplement shall constitute the “Issuing Bank Agreement”
with respect to ATB Financial for purposes of Section 3.01(l) of the Credit Agreement.

 

[Remainder of this page intentionally
left blank.]

 

    2

     

    

 

IN WITNESS WHEREOF, each
of the undersigned has caused this Supplement to be executed and delivered by a duly authorized officer on the date first above written.

 

	 	ATB Financial
	 	 
	 	By: 	/s/ Amish Patel
	 	Name: Amish Patel
	 	Title: Director
	 	 
	 	By:	 /s/ Wes Jardine
	 	Name: Wes Jardine
	 	Title: Managing Director

 

[Signature Page – Additional Lender
Supplement]

 

     

     

    

 

Accepted and agreed to as of the date first written above:

 

	WIL-BERMUDA:	 
	 	 
	WEATHERFORD INTERNATIONAL LTD.,	 
	a Bermuda exempted company	 
	 	 
	By:	 /s/ Maximiliano A. Kricorian	 
	Name: Maximiliano A. Kricorian	 
	Title: Vice President and Treasurer	 
	 	 
	WIL-Delaware:	 
	 	 
	WEATHERFORD INTERNATIONAL, LLC,	 
	a Delaware limited liability company	 
	 	 
	By:	 /s/ Maximiliano A. Kricorian	 
	Name: Maximiliano A. Kricorian	 
	Title: Vice President and Treasurer	 
	 	 
	WIL-CANADA:	 
	 	 
	WEATHERFORD CANADA LTD,	 
	an Alberta corporation	 
	 	 
	By: 	/s/ Pamela M. Webb	 
	Name: Pamela M. Webb	 
	Title: Director	 

 

[Signature Page – Additional Lender
Supplement]

 

     

     

    

 

PARENT:

 

SIGNED for and on behalf of

WEATHERFORD INTERNATIONAL PUBLIC LIMITED COMPANY

by its lawfully appointed attorney:

 

	In the presence of:	 	 
	 	 	 
	/s/ Pam Davis	 	/s/ Christine M. Morrison
	Signature of Witness	 	Signature of Attorney
	 	 	 
	Pam Davis	 	Christine M. Morrison
	Print Name of Witness	 	Print Name of Attorney
	 	 	 
	2000 St. James Place

    Houston, TX 77056
	 	 
	Address of Witness	 	 
	 	 	 
	Paralegal	 	 
	Occupation of Witness	 	 

 

[Signature Page – Additional Lender
Supplement]

 

     

     

    

 

Consented to and acknowledged as of the date first written above:

 

	WELLS FARGO BANK, NATIONAL ASSOCIATION,	 
	as Administrative Agent	 
	 	 
	By:	 /s/ Michael Janak	 
	Name: Michael Janak	 
	Title: Managing Director	 

 

[Signature Page – Additional Lender
Supplement]Exhibit 10.3

 

Execution Version

 

Canadian Borrower Joinder

 

THIS CANADIAN BORROWER JOINDER
AGREEMENT is executed as of November 22, 2022 (this “Joinder”), by Weatherford Canada Ltd., an Alberta corporation
amalgamated under the laws of the Province of Alberta, Canada, (the “New Borrower”) and delivered to Wells Fargo Bank,
National Association, as administrative agent (in such capacity for the Lenders under that certain Amended and Restated Credit Agreement,
dated as of October 17, 2022 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time,
the “Credit Agreement”), among Weatherford International Ltd., a Bermuda exempted company (“WIL-Bermuda”),
Weatherford International, LLC, a Delaware limited liability company (“WIL-Delaware”), any other Borrower party thereto,
Weatherford International plc, an Irish public limited company (“Parent”), the Lenders from time to time party thereto,
Wells Fargo Bank, National Association, as administrative agent for the Lenders, and the Issuing Banks from time to time party thereto.
Capitalized terms used but not otherwise defined herein shall have the respective meanings specified therefor in the Credit Agreement.

 

W I T N E S S E T H

 

WHEREAS, pursuant to Section 4.13
of the Credit Agreement, the Borrowers have exercised the right, subject to the terms and conditions thereof, to effectuate an increase
in the aggregate Commitments under the Credit Agreement by requesting one or more Persons meeting the qualifications set forth in such
Section 4.13 to provide the Specific Incremental Commitment Increase;

 

WHEREAS, as a condition to
the effectiveness of such Specific Incremental Commitment Increase, the New Borrower is executing this Joinder;

 

WHEREAS, the New Borrower
will obtain benefits from the incurrence of Loans by, and the issuance of, and participations in, Letters of Credit for the account of,
any Borrower, in each case pursuant to the Credit Agreement, and, accordingly, desires to execute this Joinder in order to induce the
Lenders and Issuing Banks to continue to make Loans and issue Letters of Credit for the account of the Borrowers, in each case, pursuant
to the Credit Agreement;

 

NOW, THEREFORE, in consideration
of the foregoing and other benefits accruing to the New Borrower, the receipt and sufficiency of which are hereby acknowledged, the New
Borrower hereby makes the following representations and warranties to the Administrative Agent for the benefit of the Lenders and the
Issuing Banks and hereby covenants and agrees with each of the Administrative Agent, the Lenders and the Issuing Banks as follows:

 

		1.	By executing and delivering this Joinder,
                                            the New Borrower (a) becomes a Borrower for all purposes under the Credit Agreement
                                            and (b) acknowledges and agrees that it is a party to and is a “Borrower”,
                                            an “Obligor Party” and an “Obligor” under the Credit Agreement and
                                            agrees to be bound by the terms and provisions of the Credit Agreement in such capacities
                                            thereunder, effective upon the date on which Administrative Agent shall have received a copy
                                            of this Joinder, duly executed by the New Borrower and acknowledged by Administrative Agent.

 

     

     

    

 

		2.	The New Borrower, in consideration of
                                            each Lender’s and each Issuing Bank’s agreement to extend credit to it under
                                            and on the terms and conditions set forth in the Credit Agreement, does hereby assume each
                                            of the obligations imposed upon a “Borrower” under the Credit Agreement and agrees
                                            to be bound by the terms and conditions of the Credit Agreement. In furtherance of the foregoing,
                                            the New Borrower hereby represents and warrants to the Administrative Agent, each Lender
                                            and each Issuing Bank as follows:

 

		a.	Upon execution and delivery of this Joinder
                                            to the Administrative Agent, the New Borrower will become a Borrower under the Credit Agreement
                                            and will thereafter (i) have all the rights and obligations of a Borrower thereunder
                                            and be bound by all the provisions thereof, as fully as if the New Borrower were one of the
                                            original parties thereto and (ii) be designated as an Obligor and Obligor Party under
                                            the Loan Documents (to the extent not already so designated) with all the rights and obligations
                                            of such a Person, as fully as if the New Borrower were one of the original Borrowers under
                                            the Credit Agreement.

 

		b.	The representations and warranties of
                                            the Obligors contained in the Credit Agreement and in the other Loan Documents are true and
                                            correct in all material respects, except for any representation and warranty that is qualified
                                            by materiality or reference to Material Adverse Effect, which such representation and warranty
                                            is true and correct in all respects, on and as of the date hereof with the same effect as
                                            if made on and as of such date (except for any such representation and warranty that by its
                                            terms is made only as of an earlier date, which representation and warranty remains true
                                            and correct in all material respects as of such specified earlier date, except for any representation
                                            and warranty that is qualified by materiality or reference to Material Adverse Effect, which
                                            such representation and warranty is true and correct in all respects as of such specified
                                            earlier date).

 

		3.	THIS JOINDER AND ALL OTHER DOCUMENTS
                                            EXECUTED IN CONNECTION HEREWITH AND THEREWITH AND THE RIGHTS AND OBLIGATIONS EXISTING HEREUNDER
                                            SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK.

 

		4.	This Joinder may be executed
                                            in counterparts (and by different signatories hereto on different counterparts), each of
                                            which shall constitute an original, but all of which when taken together shall constitute
                                            a single contract. Delivery of an executed counterpart of a signature page to this Joinder
                                            by facsimile transmission or electronic transmission (in .pdf format) shall be effective
                                            for all purposes as delivery of a manually executed counterpart of this Joinder. The words
                                            “execution”, “signed”, “signature”, “delivery”,
                                            and words of like import in or relating to any document to be signed in connection with this
                                            Joinder and the transactions contemplated hereby shall be deemed to include Electronic Signatures,
                                            deliveries or the keeping of records in electronic form, each of which shall be of the same
                                            legal effect, validity or enforceability as a manually executed signature, physical delivery
                                            thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent
                                            and as provided for in any applicable law, including the Federal Electronic Signatures in
                                            Global and National Commerce Act, the New York State Electronic Signatures and Records Act,
                                            or any other similar state laws based on the Uniform Electronic Transactions Act; provided that
                                            nothing herein shall require the Administrative Agent to accept electronic signatures in
                                            any form or format without its prior written consent. Without limiting the generality of
                                            the foregoing, the New Borrower hereby (i) agrees that, for all purposes, including
                                            without limitation, in connection with any workout, restructuring, enforcement of remedies,
                                            bankruptcy proceedings or litigation among the Administrative Agent, the Lenders and the
                                            Obligors, electronic images of this Joinder shall have the same legal effect, validity and
                                            enforceability as any paper original, and (ii) waive any argument, defense or right
                                            to contest the validity or enforceability of the Joinder based solely on the lack of paper
                                            original copies of any Loan Documents, including with respect to any signature pages hereto
                                            and thereto.

 

		5.	From and after the execution and delivery
                                            hereof, this Joinder shall constitute a “Loan Document” for all purposes of the
                                            Credit Agreement and the other Loan Documents.

 

[Remainder of this page intentionally
left blank.]

 

    2

     

    

 

IN WITNESS WHEREOF, the New
Borrower has caused this Joinder to be executed and delivered as of the date first above written.

 

	 	WEATHERFORD CANADA LTD.
	 	 
	 	By: 	/s/ Pamela M. Webb
	 	Name: Pamela M. Webb
	 	Title: Director

 

[Signature Page to Canadian Borrower Joinder]

 

     

     

    

 

	Accepted and Acknowledged by:	 
	 	 
	WELLS FARGO BANK, NATIONAL ASSOCIATION.,	 
	as Administrative agent	 
	 	 
	By: 	/s/ Michael Janak	 
	Name: Michael Janak	 
	Title: Managing Director	 

 

[Signature Page to Canadian Borrower Joinder]

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