Document:

EXECUTION EXHIBIT 10.2

                      FOURTH AMENDMENT TO CREDIT AGREEMENT

     THIS FOURTH AMENDMENT TO CREDIT AGREEMENT (this "Amendment") is dated as of
July 20, 2007 and is entered into by and among J. RAY MCDERMOTT, S.A., a
Panamanian corporation (the "Borrower"), CERTAIN OF THE GUARANTORS executing the
signature pages hereto, CERTAIN LENDERS AND SYNTHETIC INVESTORS (as such terms
are defined in the hereinafter described Credit Agreement) listed on the
signature pages hereto (the "Lenders"), and CREDIT SUISSE, CAYMAN ISLANDS
BRANCH, as Administrative Agent (in such capacity, "Administrative Agent") and
as Collateral Agent (in such capacity, "Collateral Agent"), and is made with
reference to that certain CREDIT AGREEMENT dated as of June 6, 2006 (as amended
by the First Amendment dated as of August 4, 2006, the Second Amendment dated as
of December 1, 2006 and the Third Amendment dated as of July 9, 2007, the
"Credit Agreement") by and among Borrower, Lenders, Administrative Agent and the
other agents party thereto. Capitalized terms used herein without definition
shall have the same meanings herein as set forth in the Credit Agreement after
giving effect to this Amendment.

                                    RECITALS

     WHEREAS, the Borrower has requested that the Lenders and the Synthetic
Investors agree to amend certain provisions of the Credit Agreement as provided
for herein; and

     WHEREAS, subject to certain conditions provided for herein, the Lenders and
the Synthetic Investors are willing to agree to such amendments.

     NOW, THEREFORE, in consideration of the premises and the agreements,
provisions and covenants herein contained, the parties hereto agree as follows:

SECTION I. Amendments

1.1  Amendments to Section 1: Definitions.
     -------------------------------------

     Section 1.1 of the Credit Agreement is hereby amended by adding the
following definitions in proper alphabetical sequence:

     "Fourth Amendment" means that certain Fourth Amendment to Credit Agreement
dated as of July 20, 2007 among the Borrower, the Administrative Agent, the
Collateral Agent and the Lenders and Synthetic Investors listed on the signature
pages thereto.

     "Fourth Amendment Effective Date" means the date of satisfaction of the
conditions referred to in Section II of the Fourth Amendment.

1.2  Amendments to Section 2.12: Fees.
     ---------------------------------

     Section 2.12(b) (Letter of Credit Fees) of the Credit Agreement is hereby
amended by inserting the phrase "equal to a percentage per annum as agreed to by
each Issuer acting in its sole and individual discretion but in no case greater
than" immediately following the words "an issuance fee" and immediately
preceding "0.125%" in clause (i) therein.

<PAGE>

1.3  Amendments to Schedule I: Commitments.
     --------------------------------------

     Schedule I of the Credit Agreement is hereby amended by deleting it in its
entirety and replacing it with the new Schedule I annexed hereto as Exhibit A.
Each Lender that is not, prior to the Fourth Amendment Effective Date a party to
the Credit Agreement as a Lender (i) confirms that it has received a copy of the
Credit Agreement and the other Loan Documents, together with copies of the most
recent financial statements of the Borrower delivered pursuant thereto and such
other documents and information as it has deemed appropriate to make its own
credit analysis and decision to enter into this Amendment; (ii) agrees that it
has, independently and without reliance upon the Administrative Agent, the
Collateral Agent or any other Lender and based on such documents and information
as it has deemed appropriate, made its own credit analysis and decision to enter
into this Amendment; (iii) agrees that it will, independently and without
reliance upon the Administrative Agent, the Collateral 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 Loan Documents; (iv) appoints and authorizes the Administrative Agent
and the Collateral Agent to take such action as agent on its behalf and to
exercise such powers and discretion under the Loan Documents as are delegated to
the Administrative Agent and the Collateral Agent by the terms thereof, together
with such powers and discretion as are reasonably incidental thereto; and (v)
agrees that it is a "Lender" under the Loan Documents and will perform in
accordance with their terms all of the obligations that by the terms of the Loan
Documents are required to be performed by it as a Lender. The Administrative
Agent and each Lender hereby agrees that the Increased Amount Date for the New
Revolving Commitments set forth on the new Schedule I annexed hereto as Exhibit
A shall be the Fourth Amendment Effective Date, notwithstanding that the
Increased Amount Date is less than 10 Business Days after the date of the notice
of the New Revolving Commitments delivered by the Borrower to the Administrative
Agent pursuant to Section 2.18.

1.4  Amendments to Schedule II: Applicable Commitment Fee Rate and Applicable
     ------------------------------------------------------------------------
     Margin.
     -------

     Schedule II of the Credit Agreement is hereby amended by deleting it in its
entirety and replacing it with the new Schedule II annexed hereto as Exhibit B.

SECTION II. CONDITIONS TO EFFECTIVENESS

     This Amendment shall become effective as of the date hereof only upon the
satisfaction of all of the following conditions precedent (the date of
satisfaction of such conditions being referred to herein as the "Fourth
Amendment Effective Date"):

     A. Execution. The Administrative Agent shall have received a counterpart
signature page of this Amendment duly executed by the Borrower, each of the
Guarantors and 100 % of all the affected Lenders and affected Synthetic
Investors (it being understood that such unanimous vote may be obtained
following the utilization by the Borrower of its option to cause the assignment
of the Loans held by or amounts on deposit in the Sub-Account of, as the case
may be, any Non-Consenting Lender pursuant to subsection 11.1(c) of the Credit
Agreement).

                                       2
<PAGE>

     B. Opinions. The Administrative Agent shall have received favorable written
opinions of (a) Baker Botts L.L.P., counsel to the Loan Parties, and (b) Liane
K. Hinrichs, Vice President, General Counsel and Corporate Secretary of the
Borrower, in each case dated as of the Fourth Amendment Effective Date
addressing such matters as the Administrative Agent may reasonably request.

SECTION III. REAFFIRMATION OF CREDIT SUPPORT

     A. Each of the Borrower and each Guarantor (each, individually, a "Credit
Support Party" and, collectively, the "Credit Support Parties") has read this
Amendment and consents to the terms hereof and further hereby confirms and
agrees that, notwithstanding the effectiveness of this Amendment, the
obligations of such Credit Support Party under, and the Liens granted by such
Credit Support Party as collateral security for the Indebtedness, obligations
and liabilities evidenced by the Credit Agreement and the other Loan Documents
pursuant to, each of the Loan Documents to which such Credit Support Party is a
party shall not be impaired and each of the Loan Documents to which such Credit
Support Party is a party is, and shall continue to be, in full force and effect
and are hereby confirmed and ratified in all respects

     B. Each Credit Support Party (other than the Borrower) acknowledges and
agrees that (i) notwithstanding the conditions to effectiveness set forth in
this Amendment, such Credit Support Party is not required by the terms of the
Credit Agreement or any other Loan Document to consent to the amendments to the
Credit Agreement effected pursuant to this Amendment and (ii) nothing in the
Credit Agreement, this Amendment or any other Loan Document shall be deemed to
require the consent of such Credit Support Party to any future amendments to the
Credit Agreement.

SECTION IV. REPRESENTATIONS AND WARRANTIES

     In order to induce Lenders and Synthetic Investors to enter into this
Amendment and to amend the Credit Agreement in the manner provided herein, the
Borrower represents and warrants to each Lender and each Synthetic Investor that
the following statements are true and correct in all material respects:

     A. Corporate Power and Authority. The Borrower and each Guarantor has all
requisite corporate or other organizational power and authority to enter into
this Amendment and to carry out the transactions contemplated by, and perform
its obligations under, the Credit Agreement and the other Loan Documents.

     B. Authorization of Agreements. The execution and delivery of this
Amendment has been duly authorized by all necessary corporate or other
organizational action on the part of the Borrower and each Guarantor.

                                       3

<PAGE>

     C. No Conflict. The execution and delivery by the Borrower and each
Guarantor of this Amendment does not and will not (i) violate (A) any provision
of any law, statute, rule or regulation, or of the certificate or articles of
incorporation or partnership agreement, other constitutive documents or by-laws
of the Borrower or any such Guarantor or (B) any applicable order of any court
or any rule, regulation or order of any Governmental Authority, (ii) be in
conflict with, result in a breach of or constitute (alone or with notice or
lapse of time or both) a default under any Contractual Obligation of the
Borrower or any Guarantor, where any such conflict, violation, breach or default
referred to in clause (i) or (ii) of this Section IV.C., individually or in the
aggregate could reasonably be expected to have a Material Adverse Effect, (iii)
except as permitted under the Credit Agreement, result in or require the
creation or imposition of any Lien upon any of the properties or assets of the
Borrower or any such Guarantor (other than any Liens created under any of the
Loan Documents in favor of Collateral Agent on behalf of Lenders), or (iv)
require any approval of stockholders or partners or any approval or consent of
any Person under any Contractual Obligation of the Borrower or any Guarantor
except for such approvals or consents which will be obtained on or before the
Fourth Amendment Effective Date and except for any such approvals or consents
the failure of which to obtain will not have a Material Adverse Effect.

     D. Governmental Consents. No action, consent or approval of, registration
or filing with or any other action by any Governmental Authority is or will be
required in connection with the execution and delivery by the Borrower or any
Guarantor, except for such actions, consents and approvals the failure of which
to obtain or make could not reasonably be expected to result in a Material
Adverse Effect or which have been obtained and are in full force and effect.

     E. Binding Obligation. This Amendment has been duly executed and delivered
by the Borrower and each Guarantor and constitutes a legal, valid and binding
obligation of the Borrower and each such Guarantor, enforceable against the
Borrower and each Guarantor in accordance with its terms, except as
enforceability may be limited by bankruptcy, insolvency, moratorium,
reorganization or other similar laws affecting creditors' rights generally and
except as enforceability may be limited by general principles of equity
(regardless of whether such enforceability is considered in a proceeding in
equity or at law).

     F. Incorporation of Representations and Warranties from Credit Agreement.
The representations and warranties contained in Article IV of the Credit
Agreement are and will be true and correct in all material respects on and as of
the Fourth Amendment Effective Date to the same extent as though made on and as
of that date, except to the extent such representations and warranties
specifically relate to an earlier date, in which case they were true and correct
in all material respects on and as of such earlier date.

     G. Absence of Default. No event has occurred and is continuing or will
result from the consummation of the transactions contemplated by this Amendment
that would constitute an Event of Default or a Default, except for the events
expressly being waived hereby.

SECTION V. MISCELLANEOUS

     A.   Effect on the Credit Agreement and the Other Loan Documents.

     (i) Except as specifically modified by this Amendment, the Credit Agreement
and the other Loan Documents shall remain in full force and effect and are
hereby ratified and confirmed.

     (ii) The execution, delivery and performance of this Amendment shall not
constitute a waiver of any provision of, or operate as a waiver of any right,
power or remedy of any Agent, Lender or Synthetic Investor under, the Credit
Agreement or any of the other Loan Documents except as otherwise expressly
provided for herein.

                                        4
<PAGE>

     B. Headings. Section and Subsection headings in this Amendment are included
herein for convenience of reference only and shall not constitute a part of this
Amendment for any other purpose or be given any substantive effect.

     C. Applicable Law. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN
ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING WITHOUT
LIMITATION SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW
YORK), WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES.

     D. Counterparts. This Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of
which when so executed and delivered shall be deemed an original, but all such
counterparts together shall constitute but one and the same instrument;
signature pages may be detached from multiple separate counterparts and attached
to a single counterpart so that all signature pages are physically attached to
the same document.

               [Remainder of this page intentionally left blank.]

                                       5
<PAGE>

     IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed and delivered by their respective officers thereunto duly
authorized as of the date first written above.

BORROWER:                  J. RAY MCDERMOTT, S.A.

                           By:      /s/ Janet Duncan
                              ------------------------------------------------
                                Name:  Janet Duncan
                                Title: Assistant Treasurer

GUARANTORS:                GLOBAL ENERGY-MCDERMOTT LIMITED
                           J. RAY MCDERMOTT ENGINEERING, LLC
                           J. RAY MCDERMOTT HOLDINGS, LLC
                           J. RAY MCDERMOTT, INC.
                           J. RAY MCDERMOTT SOLUTIONS, INC.
                           J. RAY MCDERMOTT TECHNOLOGY, INC.
                           J. RAY MCDERMOTT UNDERWATER SERVICES, INC.
                           J. RAY MCDERMOTT WEST AFRICA HOLDINGS, INC.
                           J. RAY MCDERMOTT WEST AFRICA, INC.
                           MCDERMOTT TRADE CORPORATION
                           MENTOR SUBSEA TECHNOLOGY SERVICES, INC.
                           OFFSHORE PIPELINES INTERNATIONAL, LTD.
                           OPI VESSELS, INC.
                           OPMI, LTD.
                           SABINE RIVER REALTY, INC.
                           SPARTEC, INC.

                           By:     /s/ Janet Duncan
                               -----------------------------------------------
                                Name:  Janet Duncan
                                Title: Assistant Treasurer of each of the
                                       above-named Guarantors

<PAGE>

                           J. RAY MCDERMOTT DE MEXICO, S.A.
                                 DE C.V.

                           By:     /s/ Stephen C. Howard
                               -----------------------------------------------
                                Name:  Stephen C. Howard
                                Title: Assistant Treasurer

                           MCDERMOTT SERVICOS DE CONSTRUCAO, LTDA.

                                    By:  J. Ray McDermott, Inc., its majority
                                         equity holder

                           By:     /s/ Janet Duncan
                               -----------------------------------------------
                                Name:  Janet Duncan
                                Title: Assistant Treasurer

                           OFFSHORE PIPELINES SDN. BHD.

                                    By:  Offshore Pipelines International,
                                         Ltd., its sole shareholder

                           By:     /s/ Janet Duncan
                               -----------------------------------------------
                                Name:  Janet Duncan
                                Title: Assistant Treasurer

                           J. RAY MCDERMOTT (NIGERIA) LTD.
                           MCDERMOTT INTERNATIONAL B.V.

                           By:     /s/ Robert E. Stumpf
                               -----------------------------------------------
                                Name:  Robert E. Stumpf
                                Title: Assistant Secretary of each of the
                                       above-named Guarantors

<PAGE>

                           Executed as a Deed by:

                           J. RAY MCDERMOTT INTERNATIONAL     VESSELS, LTD.

                           By:     /s/ Janet Duncan
                               -----------------------------------------------
                                Name:  Janet Duncan
                                Title: Assistant Treasurer

                           In the presence of:

                           By:     /s/ Robert E. Stumpf
                               -----------------------------------------------
                                Name:  Robert E. Stumpf
                                Title: Attorney-in-Fact

<PAGE>

AGENT and LENDER:          CREDIT SUISSE, CAYMAN ISLANDS BRANCH,
                           as Administrative Agent, Lender, Synthetic Investor
                           and Collateral Agent

                           By:     /s/ Robert Hetu
                               -----------------------------------------------
                                Name:  Robert Hetu
                                Title: Managing Director

                           By:     /s/ Denise L. Alvarez
                               -----------------------------------------------
                                Name:  Denise L. Alvarez
                                Title: Associate

<PAGE>

LENDERS and
SYNTHETIC INVESTORS
                           By signing below, you have indicated your consent
                           to the Fourth Amendment to the Credit Agreement

                           Name of Institution:

                           ARAB BANKING CORPORATION (B.S.C.)

                           By:     /s/ Robert Ivosevich
                               ----------------------------------------------
                                   Name:  Robert Ivosevich
                                   Title: General Manager

                           By:     /s/ Rami El-Rifai
                               -----------------------------------------------
                                   Name:  Rami El-Rifai
                                   Title: Vice President

<PAGE>

LENDERS and
SYNTHETIC INVESTORS
                           By signing below, you have indicated your consent
                           to the Fourth Amendment to the Credit Agreement

                           Name of Institution:

                           BANK OF AMERICA, N.A.

                           By:     /s/ Robert W. Troutman
                               -----------------------------------------------
                                   Name:  Robert W. Troutman
                                   Title: Managing Director

<PAGE>

LENDERS and
SYNTHETIC INVESTORS
                           By signing below, you have indicated your consent
                           to the Fourth Amendment to the Credit Agreement

                           Name of Institution:

                           THE BANK OF NOVA SCOTIA

                           By:     /s/ D. Mills
                               -----------------------------------------------
                                   Name:  D. Mills
                                   Title: Director

<PAGE>

LENDERS and
SYNTHETIC INVESTORS
                           By signing below, you have indicated your consent
                           to the Fourth Amendment to the Credit Agreement

                           Name of Institution:

                           BNP PARIBAS

                           By:     /s/ Pierre-Nicholas Rogers
                               -----------------------------------------------
                                   Name:  Pierre-Nicholas Rogers
                                   Title: Managing Director

                           By:     /s/ Jamie Dillon
                               -----------------------------------------------
                                   Name:  Jamie Dillon
                                   Title: Managing Director

<PAGE>

LENDERS and
SYNTHETIC INVESTORS
                           By signing below, you have indicated your consent
                           to the Fourth Amendment to the Credit Agreement

                           Name of Institution:

                           CALYON NEW YORK BRANCH

                           By:     /s/ Page Dillehunt
                               -----------------------------------------------
                                   Name:  Page Dillehunt
                                   Title: Managing Director

                           By:     /s/ Michael Willis
                               -----------------------------------------------
                                   Name:  Michael Willis
                                   Title: Director

<PAGE>

LENDERS and
SYNTHETIC INVESTORS
                           By signing below, you have indicated your consent
                           to the Fourth Amendment to the Credit Agreement

                           Name of Institution:

                           FORTIS CAPITAL CORP.

                           By:     /s/ Svein Engh
                               -----------------------------------------------
                                   Name:  Svein Engh
                                   Title: Managing Director

                           By:     /s/ Joe Maxwell
                               -----------------------------------------------
                                   Name:  Joe Maxwell
                                   Title: Senior Vice President

<PAGE>

LENDERS and
SYNTHETIC INVESTORS
                           By signing below, you have indicated your consent
                           to the Fourth Amendment to the Credit Agreement

                           Name of Institution:

                           JPMORGAN CHASE BANK, N.A.

                           By:     /s/ Dianne L. Russell
                               -----------------------------------------------
                                   Name:  Dianne L. Russell
                                   Title: Vice President

<PAGE>

LENDERS and
SYNTHETIC INVESTORS
                           By signing below, you have indicated your consent
                           to the Fourth Amendment to the Credit Agreement

                           Name of Institution:

                           MIZUHO CORPORATE BANK, LTD.

                           By:     /s/ Raymond Ventura
                               -----------------------------------------------
                                   Name:  Raymond Ventura
                                   Title: Deputy General Manager

<PAGE>

LENDERS and
SYNTHETIC INVESTORS
                           By signing below, you have indicated your consent
                           to the Fourth Amendment to the Credit Agreement

                           Name of Institution:

                           NATIXIS

                           By:     /s/ Donovan C. Broussard
                               -----------------------------------------------
                                   Name:  Donovan C. Broussard
                                   Title: Managing Director

                           By:     /s/ Daniel Payer
                               -----------------------------------------------
                                   Name:  Daniel Payer
                                   Title: Director

<PAGE>

LENDERS and
SYNTHETIC INVESTORS
                           By signing below, you have indicated your consent
                           to the Fourth Amendment to the Credit Agreement

                           Name of Institution:

                           NATIONAL CITY BANK

                           By:     /s/ Stephen Monto
                               -----------------------------------------------
                                   Name:  Stephen Monto
                                   Title: Vice President

<PAGE>

LENDERS and
SYNTHETIC INVESTORS
                           By signing below, you have indicated your consent
                           to the Fourth Amendment to the Credit Agreement

                           Name of Institution:

                           PNC BANK, NATIONAL ASSOCIATION

                           By:     /s/ W. J. Bowne
                               -----------------------------------------------
                                   Name:  W. J. Bowne
                                   Title: Managing Director

<PAGE>

LENDERS and
SYNTHETIC INVESTORS
                           By signing below, you have indicated your consent
                           to the Fourth Amendment to the Credit Agreement

                           Name of Institution:

                           UBS LOAN FINANCE LLC

                           By:     /s/ Mary E. Evans
                               -----------------------------------------------
                                   Name:  Mary E. Evans
                                   Title: Associate Director

                           By:     /s/ Irja R. Otsa
                               -----------------------------------------------
                                   Name:  Irja R. Otsa
                                   Title: Associate Director

<PAGE>

LENDERS and
SYNTHETIC INVESTORS
                           By signing below, you have indicated your consent
                           to the Fourth Amendment to the Credit Agreement

                           Name of Institution:

                           WACHOVIA BANK, NATIONAL ASSOCIATION

                           By:     /s/ Kenneth C. Coulter
                               -----------------------------------------------
                                   Name:  Kenneth C. Coulter
                                   Title: Vice President

<PAGE>

LENDERS and
SYNTHETIC INVESTORS
                           By signing below, you have indicated your consent
                           to the Fourth Amendment to the Credit Agreement

                           Name of Institution:

                           AMEGY BANK N.A.

                           By:     /s/ Michael Skarke
                               -----------------------------------------------
                                   Name:  Michael Skarke
                                   Title: Banking Officer

<PAGE>

LENDERS and
SYNTHETIC INVESTORS
                           By signing below, you have indicated your consent
                           to the Fourth Amendment to the Credit Agreement

                           Name of Institution:

                           WHITNEY NATIONAL BANK

                           By:     /s/ Larry Stephens
                               -----------------------------------------------
                                   Name:  Larry Stephens
                                   Title: Vice President

<PAGE>

ADDITIONAL GUARANTORS:     CHARTERING COMPANY (SINGAPORE) PTE. LTD.
                           EASTERN MARINE SERVICES, INC.
                           HYDRO MARINE SERVICES, INC.
                           INTERNATIONAL VESSELS LTD.
                           J. RAY MCDERMOTT (AUST.) HOLDING PTY. LIMITED
                           J. RAY MCDERMOTT ASIA PACIFIC PTE. LTD.
                           J. RAY MCDERMOTT CONTRACTORS, INC.
                           J. RAY MCDERMOTT FAR EAST, INC.
                           J. RAY MCDERMOTT INTERNATIONAL, INC.
                           J. RAY MCDERMOTT MIDDLE EAST INC.
                           MCDERMOTT (MALAYSIA) SENDIRIAN BERHAD
                           MCDERMOTT CASPIAN CONTRACTORS, INC.
                           MCDERMOTT FAR EAST, INC.
                           MCDERMOTT GULF OPERATING   COMPANY, INC.
                           MCDERMOTT INDUSTRIES (AUST.) PTY. LIMITED
                           MCDERMOTT OLD JV OFFICE, INC.
                           MCDERMOTT OVERSEAS, INC.
                           NORTH ATLANTIC VESSEL, INC.
                           PT. J. RAY MCDERMOTT INDONESIA
                           J. RAY MCDERMOTT CANADA HOLDING, LTD.
                           J. RAY MCDERMOTT CANADA, LTD.
                           MCDERMOTT INTERNATIONAL VESSELS, INC.

                           By:     /s/ Janet Duncan
                               -----------------------------------------------
                           Name:    Janet Duncan
                           Title:   Assistant Treasurer of each of the
                                    above-named Guarantors

<PAGE>

                           J. RAY MCDERMOTT EASTERN HEMISPHERE LIMITED
                           MCDERMOTT MARINE CONSTRUCTION LIMITED

                           By:     /s/ Stephen C. Howard
                               -----------------------------------------------
                           Name:    Stephen C. Howard
                           Title:   Assistant Treasurer of each of the
                                    above-named Guarantors

                           J. RAY MCDERMOTT INVESTMENTS B.V.
                           MCDERMOTT INTERNATIONAL MARINE
                              INVESTMENTS N.V.
                           VARSY INTERNATIONAL, N.V.

                           By:     /s/ Robert E. Stumpf
                               -----------------------------------------------
                           Name:    Robert E. Stumpf
                           Title:   Assistant Secretary of each of the
                                    above-named Guarantors

                           J. RAY MCDERMOTT INTERNATIONAL SERVICES LIMITED
                           MCDERMOTT HOLDINGS (U.K.) LIMITED
                           MCDERMOTT MARINE UK LIMITED
                           MENTOR ENGINEERING CONSULTANTS LIMITED

                           By:     /s/ Robert E. Stumpf
                               -----------------------------------------------
                           Name:    Robert E. Stumpf
                           Title:   Joint Secretary of each of the above-named
                                    Guarantors

                           MCDERMOTT OFFSHORE SERVICES COMPANY, INC.

                           By:     /s/ Robert E. Stumpf
                               -----------------------------------------------
                           Name:    Robert E. Stumpf
                           Title:   Secretary and Treasurer

<PAGE>

                                    EXHIBIT A

                                                                      Schedule I
                                                             To Credit Agreement

                             Revolving Commitments

                    Lender                            Revolving Commitment
----------------------------------------------- --------------------------------
             Bank of America, N.A.                       $50,000,000.00
            Calyon New York Branch                       $50,000,000.00
             Fortis Capital Corp.                        $50,000,000.00
           JPMorgan Chase Bank, N.A.                     $50,000,000.00
      Wachovia Bank, National Association                $50,000,000.00
     Credit Suisse, Cayman Islands Branch                $45,000,000.00
          Natixis Banques Populaires                     $37,500,000.00
                      BNP                                $25,000,000.00
             Whitney National Bank                       $25,000,000.00
          Mizuho Corporate Bank, Ltd.                    $24,500,000.00
              Bank of Nova Scotia                        $20,000,000.00
        PNC Bank, National Association                   $17,000,000.00
              National City Bank                         $16,000,000.00
        Amegy Bank National Association                  $15,000,000.00
           Arab Banking Corporation                      $15,000,000.00
             UBS Loan Finance LLC                        $10,000,000.00
                     Total                              $500,000,000.00

<PAGE>

                                                                       EXHIBIT B

                                   Schedule II
                                   -----------

              Applicable Commitment Fee Rate and Applicable Margin
              ----------------------------------------------------

1.       Applicable Commitment Fee Rate
         ------------------------------

"Applicable Commitment Fee Rate" means, with respect to the Revolving Facility,
the applicable percentage per annum on the undrawn portion of the Revolving
Commitments, determined by reference to the credit ratings of the Facilities by
each of S&P and Moody's, respectively, in effect from time to time as set forth
below; provided that if no such credit rating is available from either S&P or
Moody's then the Applicable Commitment Fee Rate shall be the highest rate set
forth below; provided further that if the ratings from Moody's and S&P fall
within one different level set forth below, pricing shall be based on the higher
rating, provided further that if the ratings from Moody's and S&P fall within
two different levels set forth below, pricing shall be based on the level one
level higher than the lowest of the two ratings:

                      Commitment Fee for Revolving Facility

            Credit Ratings                          Commitment Fee
---------------------------------------- ---------------------------------------
Baa2 or BBB or better                    0.250%
Baa3 or BBB-                             0.300%
Less than Baa3 or BBB-                   0.375%

2.   Applicable Margin for Revolving Loans
     -------------------------------------

"Applicable Margin" means, with respect to Revolving Loans that are (i)
Eurodollar Rate Loans, a percentage, per annum, determined by reference to the
credit ratings of the Facilities by each of S&P and Moody's, respectively, in
effect from time to time as set forth below; provided that if no such credit
rating is available from either S&P or Moody's then the Applicable Margin shall
be the highest margin set forth below; provided further that if the ratings from
Moody's and S&P fall within one different level set forth below, pricing shall
be based on the higher rating, provided further that if the ratings from Moody's
and S&P fall within two different levels set forth below, pricing shall be based
on the level one level higher than the lowest of the two ratings:

            Credit Ratings               Applicable Margin for Revolving Loans
----------------------------------------- --------------------------------------
Baa2 or BBB or better                     1.00%
Baa3 or BBB-                              1.25%
Ba1 or BB+                                1.50%
Less than Ba1 or BB+                      1.75%

and (ii) with respect to Revolving Loans that are Base Rate Loans, an amount
equal to (a) the Applicable Margin for Eurodollar Rate Loans as set forth above,
as applicable, minus (b) 1.00% per annum.EXHIBIT 10.1

                               AMENDMENT NO. 5 TO
                           LOAN AND SECURITY AGREEMENT

      AMENDMENT NO. 5 TO LOAN AND SECURITY AGREEMENT, dated as of July 20, 2007
(this "Amendment"), by and among Wachovia Bank, National Association, in its
capacity as agent pursuant to the Loan Agreement (as hereinafter defined) acting
for and on behalf of the financial institutions which are parties thereto as
lenders (in such capacity, "Agent"), the financial institutions which are
parties to the Loan Agreement as lenders (individually, each a "Lender" and
collectively, "Lenders"), C&D Technologies, Inc., a Delaware corporation
("Parent"), C&D Technologies (Datel), Inc., a Delaware corporation ("Datel"),
C&D Technologies (CPS) LLC, a Delaware limited liability company ("CPS, and
together with Parent and Datel, each individually a "Borrower" and collectively,
"Borrowers"), C&D Charter Holdings, Inc., a Delaware corporation ("Charter"),
C&D Dynamo Corp., a Delaware corporation ("Dynamo"), Dynamo Acquisition Corp., a
Delaware corporation ("Acquisition"), C&D International Investment Holdings
Inc., a Delaware corporation ("International") and Datel Holding Corporation, a
Delaware corporation ("Datel Holding", and together with Charter, Dynamo,
Acquisition and International, each individually a "Guarantor" and collectively,
"Guarantors". All capitalized terms used herein shall have the meanings assigned
thereto in the Loan Agreement unless otherwise defined herein.

                              W I T N E S S E T H :

      WHEREAS, Agent, Lenders, Borrowers and Guarantors have entered into
financing arrangements pursuant to which Lenders (or Agent on behalf of Lenders)
have made and may make loans and advances and provide other financial
accommodations to Borrowers as set forth in the Loan and Security Agreement,
dated December 7, 2005, by and among Agent, Lenders, Borrowers and Guarantors
(as amended by Amendment No. 1 to Loan and Security Agreement, dated March 30,
2006, Consent, Waiver, Amendment No. 2 to Loan and Security Agreement, dated as
of June 14, 2006 and Consent, Amendment No. 3 to Loan and Security Agreement,
dated as of December 21, 2006 and Amendment No. 4 to Loan and Security
Agreement, dated as of April 13, 2007 as the same may hereafter be further
amended, modified, supplemented, extended, renewed, restated or replaced, the
"Loan Agreement"), and the other agreements, documents and instruments referred
to therein or at any time executed and/or delivered in connection therewith or
related thereto, including, but not limited to, this Amendment (all of the
foregoing, together with the Loan Agreement, as the same now exist or may
hereafter be amended, modified, supplemented, extended, renewed, restated or
replaced, being collectively referred to herein as the "Financing Agreements");

      WHEREAS, Borrowers have requested that Agent and Lenders agree to certain
amendments to the Loan Agreement, and Agent and Lenders are willing to agree to
such amendments, subject to the terms and conditions contained herein; and

      WHEREAS, by this Amendment, Borrowers, Guarantors, Agent and Lenders
desire and intend to evidence such amendments;

<PAGE>

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

      1. Required Lenders. Section 1.122 of the Loan Agreement is hereby deleted
in its entirety and the following substituted therefor:

            "1.122 "Required Lenders" shall mean, at any time, those Lenders
whose Pro Rata Shares aggregate more than sixty-five (65%) percent or more of
the aggregate of the Commitments of all Lenders, or if the Commitments shall
have been terminated, Lenders to whom more than sixty-five (65%) percent of the
then outstanding Obligations are owing."

      2. Representations, Warranties and Covenants. Borrowers and Guarantors
represent, warrant and covenant with and to Agent and Lenders as follows, which
representations, warranties and covenants are continuing and shall survive the
execution and delivery hereof, and the truth and accuracy of, or compliance with
each, together with the representations, warranties and covenants in the other
Financing Agreements, being a continuing condition of the making of Loans by
Lenders (or Agent on behalf of Lenders) to Borrowers:

            (a)   neither the execution, delivery and performance of this
                  Amendment, or any other Financing Agreements in connection
                  herewith, nor the consummation of the transactions herein or
                  therein contemplated, are in contravention of law or any
                  indenture, agreement or undertaking to which any Borrower or
                  Guarantor is a party or by which any Borrower or Guarantor or
                  its property are bound, or violates any provision of the
                  Certificate of Incorporation or By-Laws (or similar governing
                  documents) of any Borrower or Guarantor;

            (b)   as of the date of this Amendment, no Default or Event of
                  Default exists or has occurred and is continuing;

            (c)   this Amendment and each other agreement or instrument to be
                  executed and/or delivered by any Borrower or Guarantor in
                  connection herewith or therewith have been duly authorized,
                  executed and delivered by all necessary action on the part of
                  such Borrower or Guarantor which is a party hereto and thereto
                  and, if necessary, its stockholders or equity holders, as the
                  case may be, and is in full force and effect as of the date
                  hereof, and the agreements and obligations of each Borrower
                  and Guarantor contained herein and therein constitute legal,
                  valid and binding obligations of such Borrower or Guarantor
                  enforceable against it in accordance with their terms, except
                  as such enforceability may be limited by bankruptcy,
                  insolvency, moratorium or similar laws limiting creditors'
                  rights generally and by general equitable principals; and

            (d)   no action of, or filing with, or consent of any Governmental
                  Authority, and no approval or consent of any other party, is
                  required to authorize, or is otherwise required in connection
                  with, the execution, delivery and performance by any Borrower
                  or Guarantor of this Amendment, or the

<PAGE>

                  transactions contemplated hereby.

      3. Conditions Precedent. The effectiveness of the amendments contained
herein shall only be effective upon the satisfaction of each of the following
conditions precedent in a manner reasonably satisfactory to Agent:

            (a)   Agent shall have received counterparts of this Amendment, duly
                  authorized, executed and delivered by Borrowers, Guarantors
                  and Lenders;

            (b)   Agent shall have received a true and correct copy of any
                  consent, waiver or approval to or of this Amendment, which any
                  Borrower or Guarantor is required to obtain from any other
                  Person, and such consent, approval or waiver shall be in form
                  and substance reasonably satisfactory to Agent; and

            (c)   after giving effect to this Amendment, no Default or Event of
                  Default shall exist or have occurred and be continuing.

      4. General Release. Each Borrower and Guarantor may have certain Claims
(as hereinafter defined) against the Released Parties (as hereinafter defined)
regarding or relating to the Loan Agreement or the other Financing Agreements.
Agent, the Lenders, Borrowers and Guarantors desire to resolve each and every
one of such Claims in conjunction with the execution of this Amendment and thus
each Borrower and Guarantor makes the release contained in this Section 4. In
consideration of Agent's and Lenders' entering into this Amendment and agreeing
to the substantial concessions as set forth herein, each Borrower and Guarantor
hereby fully and unconditionally releases and forever discharges Agent and each
Lender and their respective directors, officers, employees, subsidiaries,
branches, affiliates, attorneys, agents, representatives, successors and assigns
and all persons, firms, corporations and organizations acting on any of their
behalves (collectively, the "Released Parties"), of and from any and all claims,
allegations, causes of action, costs or demands and liabilities, of whatever
kind or nature, from the beginning of the world up to and including the date on
which this Amendment is executed, whether known or unknown, liquidated or
unliquidated, fixed or contingent, asserted or unasserted, foreseen or
unforeseen, matured or unmatured, suspected or unsuspected, anticipated or
unanticipated, which such Borrower or Guarantor has, had, claims to have had or
hereafter claims to have against the Released Parties by reason of any act or
omission on the part of the Released Parties, or any of them, occurring prior to
the date on which this Amendment is executed, in any way affecting, concerning
or arising out of or founded upon this Amendment, the Loan Agreement or any of
the other Financing Agreements, including all such loss or damage of any kind
heretofore sustained or that may arise as a consequence of the dealings among
the parties arising from, in connection with or related to the administration or
enforcement of the Loans, the Obligations, the Loan Agreement or any of the
other Financing Agreements (collectively, all of the foregoing are the
"Claims"). Each Borrower and Guarantor represents and warrants that it has no
knowledge of any claim by it against the Released Parties or of any facts or
acts or omissions of the Released Parties which on the date hereof would be the
basis of a claim by such Borrower or Guarantor against the Released Parties
which is not released hereby. Each Borrower and Guarantor represents and
warrants that the foregoing constitutes a full and complete release of all
Claims.

<PAGE>

      5. Effect of this Amendment. This Amendment and the instruments and
agreements delivered pursuant hereto constitute the entire agreement of the
parties with respect to the subject matter hereof and thereof, and supersede all
prior oral or written communications, memoranda, proposals, negotiations,
discussions, term sheets and commitments with respect to the subject matter
hereof and thereof. Except as expressly provided herein, no other changes,
modifications or consents to the Financing Agreements are intended or implied,
and in all other respects the Financing Agreements are hereby specifically
ratified, restated and confirmed by all parties hereto as of the effective date
hereof. To the extent that any provision of the Loan Agreement or any of the
other Financing Agreements is inconsistent with the provisions of this
Amendment, the provisions of this Amendment shall control.

      6. Further Assurances. Each Borrower and Guarantor shall execute and
deliver such additional documents and take such additional action as may be
requested by Agent or Lenders to effectuate the provisions and purposes of this
Amendment.

      7. Governing Law. The rights and obligations hereunder of each of the
parties hereto shall be governed by and interpreted and determined in accordance
with the internal laws of the State of New York but excluding any principles of
conflicts of law or other rule of law that would cause the application of the
law of any jurisdiction other than the laws of the State of New York.

      8. Binding Effect. This Amendment shall be binding upon and inure to the
benefit of each of the parties hereto and their respective successors and
assigns.

      9. Counterparts. This Amendment may be executed in any number of
counterparts, but all of such counterparts shall together constitute but one and
the same agreement. In making proof of this Amendment, it shall not be necessary
to produce or account for more than one counterpart thereof signed by each of
the parties hereto. Delivery of an executed counterpart of this Amendment by
telecopier or other method of electronic transmission shall have the same force
and effect as delivery of an original executed counterpart of this Amendment.
Any party delivering an executed counterpart of this Amendment by telecopier or
other method of electronic transmission also shall deliver an original executed
counterpart of this Amendment, but the failure to deliver an original executed
counterpart shall not affect the validity, enforceability, and binding effect of
this Amendment as to such party or any other party.

<PAGE>

      IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed and delivered by their authorized officers as of the day and year
first above written.

AGENT AND LENDER
                                            BORROWERS
WACHOVIA BANK, NATIONAL ASSOCIATION
                                            C&D TECHNOLOGIES, INC.

By: /s/ John P. Brady                       By: /s/ Ian Harvie
    -------------------------                   --------------------

Title: Managing Director                    Title: VP, CFO
       ----------------------                      -----------------

                                            C&D TECHNOLOGIES (DATEL), INC.

                                            By: /s/ Ian Harvie
                                                --------------------
                                            Title:  VP
                                                  ------------------

                                            C&D TECHNOLOGIES (CPS) LLC

                                            By: /s/ Ian Harvie
                                                --------------------

                                            Title:  President
                                                  ------------------

                       [SIGNATURES CONTINUE ON NEXT PAGE]
<PAGE>

                    [SIGNATURES CONTINUED FROM PREVIOUS PAGE]

                                      GUARANTORS

                                      C&D CHARTER HOLDINGS, INC.

                                      By: /s/ John Brawner
                                         ------------------------
                                      Title: President
                                            ---------------------

                                      C&D DYNAMO CORP.

                                      By: /s/ Ian Harvie
                                         ------------------------

                                      Title: President
                                            ---------------------

                                      DYNAMO ACQUISITION CORP.

                                      By: /s/ Ian Harvie
                                         ------------------------

                                      Title: President
                                            ---------------------

                                      C&D INTERNATIONAL INVESTMENT HOLDINGS INC.

                                      By: /s/ John Brawner
                                         ------------------------

                                      Title: President
                                            ---------------------

                                      DATEL HOLDING CORPORATION

                                      By: /s/ Ian Harvie
                                         ------------------------

                                      Title: Director
                                            ---------------------

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