Document:

EX-10.5

 Exhibit 10.5 

IDERA PHARMACEUTICALS, INC. 
 AMENDMENT NO. 1 TO COMMON STOCK PURCHASE WARRANT 
 This Amendment
No. 1 to Common Stock Purchase Warrant (this “Agreement”) is made as of November 9, 2012, by and between Idera Pharmaceuticals, Inc., a Delaware corporation (the “Company”), and Pillar Pharmaceuticals I,
L.P. (the “Registered Holder”). 
 WHEREAS, the Company issued and sold to the Registered Holder that
certain Common Stock Purchase Warrant, dated as of November 4, 2011 (the “Warrant”) pursuant to that certain Convertible Preferred Stock and Warrant Purchase Agreement, dated November 4, 2011, among the Company and
the Purchasers named therein; 
 WHEREAS, the Company and the Registered Holder desire to amend certain sections of the Warrant,
as set forth below; 
 WHEREAS, pursuant to Section 11 of the Warrant, any amendment of the Warrant requires the written
consent signed by the Company and the Registered Holder; 
 NOW, THEREFORE, in consideration of the foregoing, and for other
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the Registered Holder hereby agree as follows: 
 1. Section 1(e) of the Warrant is hereby amended by deleting subsection (e) thereof in its entirety and inserting the following new subsection (e) in lieu thereof: 

“(e) Exercise Limitation. Notwithstanding anything to the contrary contained herein, the Company shall not
effect any exercise of this Warrant and the Registered Holder shall not be entitled to exercise this Warrant for a number of Warrant Shares in excess of that number of Warrant Shares which, upon giving effect to such exercise, would cause
(i) the aggregate number of shares of Common Stock beneficially owned by the Registered Holder and its affiliates and any other persons whose beneficial ownership of Common Stock would be aggregated with the Registered Holder’s for
purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), to exceed 19.99% of the total number of issued and outstanding shares of Common Stock of the Company following such exercise, or
(ii) the combined voting power of the securities of the Company beneficially owned by the Registered Holder and its affiliates and any other persons whose beneficial ownership of Common Stock would be aggregated with the holder’s for
purposes of Section 13(d) of the Exchange Act to exceed 19.99% of the combined voting power of all of the securities of the Company then outstanding following such exercise, unless, in either case, the stockholders of the Company approve the
Nasdaq Proposal (as defined by and in accordance with Section 5.11(B) of that certain Convertible Preferred Stock and Warrant, dated November 9, 2012, among the Company and the Purchasers named therein), in which case, the 19.99%
limitation under clause (i) and clause (ii) of this Section 1(e) shall be increased, with respect to the Registered Holder, to 35% for purposes of both clause (i) and clause (ii) of this Section 1(e). For purposes of
this Section 1(e), the aggregate number of shares of Common Stock or voting securities beneficially owned by the Registered Holder and its affiliates and any other persons whose beneficial ownership of Common Stock would be aggregated with the
Registered Holder’s for purposes of Section 13(d) of the Exchange Act shall include the shares of Common Stock issuable upon the exercise of this Warrant with respect to which such determination is being made, but shall exclude the number
of shares of Common Stock which would be issuable upon (i) exercise of the remaining unexercised and non-cancelled portion of this Warrant by the Registered Holder and (ii) exercise or conversion of the unexercised, non-converted or
non-cancelled portion of any other securities of the Company that do not have voting power (including without limitation any securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including without
limitation any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock), subject to a limitation on
conversion or exercise analogous to the limitation contained herein beneficially owned by the Registered Holder or any of its affiliates and other persons whose beneficial ownership of Common Stock would be aggregated with the Registered
Holder’s for purposes of Section 13(d) of the Exchange Act.” 

 2. Section 13 of the Warrant is hereby amended by deleting the phrase
“Commonwealth of Massachusetts” and inserting the phrase “State of Delaware” in lieu thereof. 
 3. The
Warrant, as amended by this Agreement, together with any other writings referred to in the Warrant or delivered pursuant thereto which form a part thereof, contain the entire agreement among the parties with respect to the subject matter thereof and
amend, restate and supersede all prior and contemporaneous arrangements or understandings with respect thereto. 
 4. Upon the
effectiveness of this Agreement, on and after the date hereof, each reference in the Warrant to “this Agreement,” “hereunder,” “hereof,” “herein” or words of like import shall mean and be a reference to the
Warrant, as amended hereby. Except as specifically amended above, the Warrant shall remain in full force and effect and are hereby ratified and confirmed. 
 5. This Agreement shall be governed by and construed in accordance with the General Corporation Law of the State of Delaware as to matters within the scope thereof, and as to all other matters shall be
governed by and construed in accordance with the internal laws of the State of Delaware, without regard to conflict of laws principles that would result in the application of any law other than the law of the State of Delaware. 

6. This Agreement may be executed in any number of counterparts, and each such counterpart shall be deemed to be an original instrument,
but all such counterparts together shall constitute but one agreement. 
 [Remainder of Page Intentionally Left Blank]

  
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 IN WITNESS WHEREOF, this Amendment No. 1 to Common Stock Purchase Warrant has
been executed by the parties hereto as of the day and year first above written. 
  

			
	IDERA PHARMACEUTICALS, INC.
		
	By:	 	/s/ Sudhir Agrawal
	Name:	 	Sudhir Agrawal
	Title:	 	Chairman, Chief Executive Officer and President

 Amendment No. 1 to Common Stock Purchase Warrant 

 IN WITNESS WHEREOF, this Amendment No. 1 to Common Stock Purchase Warrant has
been executed by the parties hereto as of the day and year first above written. 
  

			
	REGISTERED HOLDER:
	
	PILLAR PHARMACEUTICALS I, L.P.
		
	By:	 	/s/ Youssef El Zein
	Name:	 	Youssef El Zein
	Title:	 	Director

 Amendment No. 1 to Common Stock Purchase WarrantAmendment No. 1 to the Credit Agreement

 Exhibit 10.1 
 AMENDMENT NO. 1 
 AMENDMENT NO. 1 (this
“Amendment”) dated as of November 14, 2012 to the Credit Agreement referred to below, between FIRST AMERICAN FINANCIAL CORPORATION (the “Borrower”), the GUARANTORS identified under the caption
“GUARANTORS” on the signature pages hereto, the LENDERS party hereto and JPMORGAN CHASE BANK, N.A., as administrative agent and collateral agent thereunder (in such capacity, the “Administrative Agent”). 

WHEREAS, the Borrower, the Guarantors party thereto, the lenders party thereto (individually, a “Lender” and,
collectively, the “Lenders”) and the Administrative Agent are parties to that certain Credit Agreement dated as of April 17, 2012 (as amended and in effect immediately prior to giving effect to this Amendment, the
“Credit Agreement”); and 
 WHEREAS, the Borrower and the Lenders wish to amend the Credit Agreement in certain
respects; 
 NOW, THEREFORE, the parties hereto hereby agree as follows: 

SECTION 1. Definitions. Capitalized terms used in this Amendment and not otherwise defined are used herein as defined in the
Credit Agreement. 
 SECTION 2. Amendments. Effective as provided (and subject to the satisfaction of the conditions
precedent) in Section 4 hereof, the Credit Agreement shall be amended as follows: 
 2.01. General References.
References in the Credit Agreement (including references to the Credit Agreement as amended hereby) to “this Agreement” (and indirect references such as “hereunder”, “hereby”, “herein” and “hereof”)
shall be deemed to be references to the Credit Agreement as amended hereby. 
 2.02. Definitions. 

A. Amended or New Terms. Section 1.01 of the Credit Agreement shall be amended by amending the following
definitions (to the extent already included in said Section 1.01) and adding the following definitions in the appropriate alphabetical location (to the extent not already included in said Section 1.01): 

“Acquisition” means the acquisition by the Borrower or any Data Tree/Data Trace Entity of (a) Equity
Interests of any other Person representing more than 50% of the voting power of the Equity Interests of such Person, (b) all or substantially all of the assets of any other Person or (c) all or substantially all of the assets constituting
one or more divisions, lines of business or business units of any other Person. 
 “Amendment No. 1
Effective Date” has the meaning assigned to such term in that certain Amendment No. 1 to this Agreement dated as of November 14, 2012 among Borrower, the Subsidiaries party thereto, the Lenders and the Administrative Agent.

 “Designated Parties” means, collectively, the Borrower and
the Date Tree/Data Trace Entities. 
 “Designated Party Subsidiary” means any Subsidiary of the
Borrower which is a Designated Party. 
 “FATCA” means Section 1471 through 1474 of the
Code, as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreements
entered into pursuant to Section 1471(b)(1) of the Code. 
 “Indemnified Taxes” means Taxes
(other than Excluded Taxes) imposed on or with respect to any payment made by or on account of any obligation of the Borrower under any Loan Document. 
 “Loan Documents” means, collectively, this Agreement and the promissory notes (if any) executed and delivered pursuant to Section 2.07(f). 

“Material Adverse Effect” means a material adverse effect on (a) the business, operations,
properties or condition (financial or otherwise) of the Borrower and its Subsidiaries taken as a whole, (b) the ability of the Borrower to perform any of its obligations under the Loan Documents or (c) the rights and remedies available to
the Lenders under the Loan Documents, taken as a whole. 
 “Material Subsidiary” means, at any
time, (a) any Data Tree/Data Trace Entity, (b) FATICO and (c) any other Subsidiary having a net book value that equals or exceeds 5% of the Total Stockholders’ Equity (determined as of the last day of the most recently ended
fiscal quarter or fiscal year for which financial statements are available). 
 “Obligations”
means, collectively, all of the Indebtedness, liabilities and obligations of the Borrower to the Administrative Agent and/or the Lenders arising under the Loan Documents, in each case whether fixed, contingent, now existing or hereafter arising,
created, assumed, incurred or acquired, and whether before or after the occurrence of any Event of Default under clause (g) or (h) of Article VII and including all post-petition interest and funding losses, whether or not allowed
as a claim in any proceeding arising in connection with such an event. 
 “Restricted Payment”
means any dividend or other distribution (whether in cash or property) with respect to any Equity Interests of any Designated Party, or any payment (whether in cash or property), including any sinking fund or similar deposit, on account of the
purchase, repurchase, redemption, retirement, acquisition, cancellation or termination of any such Equity Interests or any option, warrant or other right to acquire any such Equity Interests, or on account of any return of capital to any Designated
Party or their respective shareholders, partners or members (or the equivalent Persons thereof). For the avoidance of doubt, issuances by a Designated Party of stock options, restricted stock or other stock-based compensation to officers, directors
and employees of the Borrower and its Subsidiaries shall not constitute Restricted Payments. 

  
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 “Transactions” means the execution, delivery and
performance by the Borrower of the Loan Documents, the borrowing of Loans and the use of the proceeds thereof. 

B. Deleted Terms. The following definitions in Section 1.01 of the Credit Agreement shall be deleted in their
entirety: “Collateral”, “Excess Funding Guarantor”, “Excess Payment”, “Guarantee Joinder Agreement”, “Guaranteed Obligations”, “Guarantors”,
“Loan Parties”, “Loan Party Subsidiary”, “Non-Loan Party Subsidiary”, “Pledge Agreement”, “Pro Rata Share”, “Reinstatement Event”, “Release
Event”, “Secured Parties”, “Security Documents”, and “Subsidiary Guarantees”. 
 C. Reference to Guarantors. All references to “the Guarantors party hereto” (or words of similar import) on the cover page of the Credit Agreement and in the preamble thereof and in the
Exhibits thereto (and in any promissory notes heretofore executed and delivered by the Borrower pursuant to Section 2.07(f) of the Credit Agreement) shall be deleted in their entirety. 

D. No Amendments to Effective Date Conditions. Notwithstanding anything herein to the contrary, all references to
the terms “Collateral”, “Guarantors”, “Loan Parties”, “Pledge Agreement”, “Secured Parties” and “Security Documents” in Section 4.01 of the
Credit Agreement only shall have the meanings given to such terms as in effect under the Credit Agreement as of the Effective Date. 
 2.03. Prepayment of Loans. Section 2.08(b)(i) of the Credit Agreement shall be amended in its entirety to read as follows: 

“(b) Mandatory Commitment Reductions and Prepayments. (i) If at any time the Debt Rating is lower than
BBB- by S&P (or, subject to Section 6.14(c), there is no Debt Rating by S&P) and the Debt Rating is lower than Baa3 by Moody’s (or, subject to Section 6.14(c), there is no Debt Rating by Moody’s), the Commitments
will be permanently reduced (and the Borrower will prepay the Loans to the extent provided below) as follows: 

(A) upon receipt by any Designated Party of the Net Proceeds of any Equity Issuance by such Designated Party after the
Effective Date, an amount equal to 50% of such Net Proceeds shall be applied toward the reduction of the Commitments and/or the prepayment of the Loans as set forth in Section 2.08(b)(ii); and 

(B) upon receipt by any Designated Party of the Net Proceeds of any Indebtedness permitted to be issued or incurred by
such Designated Party under Sections 6.01(k), 6.01(l), 6.01(m) and 6.01(t)(i) after the Effective Date, an amount equal to 50% of such Net Proceeds shall be applied toward the reduction of the Commitments and/or the prepayment of the Loans as
set forth in Section 2.08(b)(ii).” 

  
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 2.04. Taxes. Section 2.14 of the Credit Agreement shall be amended as follows:

 A. References to Loan Party. Each reference therein to “any Loan Party”, “each Loan
Party”, “such Loan Party”, “relevant Loan Party” or “the Loan Parties” (or words of like import) shall be replaced with the words “the Borrower” (or words of like import). 

B. Indemnification. Section 2.14(c) shall be amended by deleting the words “jointly and severally”
contained in the first sentence thereof. 
 C. FATCA. Section 2.14(f) shall be amended by replacing
the words “applicable law” with “applicable Law”. 
 D. Treatment of Certain Refunds.
The penultimate sentence of Section 2.14(g) shall be amended and restated in its entirety to read as follows: 
 “Notwithstanding anything to the contrary in this paragraph (g), in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this paragraph (g)
the payment of which would place the indemnified party in a less favorable net after-Tax position than the indemnified party would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or
otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid.” 

2.05. Representations and Warranties. Article III of the Credit Agreement shall be amended as follows: 

A. References to Loan Party. Each reference in such Article III to “any Loan Party”, “each Loan
Party”, “such Loan Party” or “the Loan Parties” (or words of like import) shall be replaced with the words “the Borrower” (or words of like import). 

B. Amendments to Section 3.15 and 3.16. Each reference in Sections 3.15 and 3.16 to the “Effective
Date” shall be replaced with the words the “Amendment No. 1 Effective Date”. Schedules 3.15 and 3.16 shall be replaced with Schedules 3.15 and 3.16 as attached hereto. In addition the parenthetical phrase in Section 3.16
shall be amended in its entirety to read as follows: 
 “(excluding Liens securing Indebtedness of the
Borrower and such Persons in an aggregate principal or face amount not exceeding $25,000,000)” 
 C. No
Amendment to Section 3.17. Notwithstanding anything herein to the contrary, all references to the term “Loan Documents” in the second sentence of Section 3.17 of the Credit Agreement only shall have the meaning given to such
term as in effect under the Credit Agreement as of the Effective Date. 
 D. Security Documents.
Section 3.19 of the Credit Agreement shall be deleted in its entirety (and the Table of Contents shall be amended correspondingly). 

  
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 2.06. Affirmative Covenants. Article V of the Credit Agreement shall be amended
as follows: 
 A. Financial Statements and Other Information. Section 5.01 of the Credit Agreement
shall be amended as follows: 
 (1) Section 5.01(a) of the Credit Agreement shall be amended by deleting the
first parenthetical phrase thereof. 
 (2) Section 5.01(b) of the Credit Agreement shall be amended by
deleting the first parenthetical phrase thereof. 
 (3) Section 5.01(c) of the Credit Agreement shall be
amended and restated in its entirety to read as follows: 
 “(c) concurrently with any delivery of financial
statements under clause (a) or (b) of this Section, a certificate of a Financial Officer of the Borrower (i) certifying as to whether a Default has occurred and, if a Default has occurred, specifying the details thereof and any action
taken or proposed to be taken with respect thereto and (ii) setting forth reasonably detailed calculations demonstrating compliance with Section 6.05;”. 
 B. Notices of Material Events. Section 5.02 of the Credit Agreement shall be amended as follows: 
 (1) Clauses (i) and (j) thereof shall be deleted in their entirety; and 
 (2) Clauses (k) and (l) thereof shall be re-lettered as clauses “(i)” and “(j)”, respectively. 

C. Guarantees; Release and Reinstatement. Section 5.11 of the Credit Agreement shall be deleted in its
entirety (and the Table of Contents shall be amended accordingly). 
 D. Pledges; Release and
Reinstatement. Section 5.12 of the Credit Agreement shall be deleted in its entirety (and the Table of Contents shall be amended accordingly). 
 E. Maintenance of Ratings. Section 5.13 of the Credit Agreement shall be re-numbered as “Section 5.11” of the Credit Agreement (and the Table of Contents shall be amended
accordingly). 
 2.07. Negative Covenants. Article VI of the Credit Agreement shall be amended as follows:

 A. Indebtedness. Section 6.01 of the Credit Agreement shall be amended as follows: 

(1) Section 6.01(k) shall be amended and restated in its entirety to read as follows: 

“(k) any Indebtedness incurred by the Borrower in the form of unsecured senior notes; provided that
(i) such Indebtedness does not mature or have scheduled amortization or payments of principal (including prepayments, redemptions or sinking fund or like payments) prior to the date that is 91 days after the Commitment Termination Date at the
time such Indebtedness is incurred (other than customary prepayment or 

  
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redemption requirements as a result of asset sales or change of control provisions (provided that any such prepayment or redemption (or offer to prepay or redeem) may be made only to the
extent permitted under Section 6.13)); (ii) the other terms and conditions of such Indebtedness (other than interest rate and redemption premium) shall not be more restrictive on the Borrower and its Subsidiaries than the terms and
conditions contained in the Loan Documents; (iii) such Indebtedness is not contractually subordinated to any other Indebtedness; (iv) such Indebtedness is not guaranteed by any Person; (v) no Default has occurred and is continuing at
the time of incurrence of such Indebtedness or would result therefrom; and (vi) the Net Proceeds of such Indebtedness shall be applied in accordance with Section 2.08(b) to the extent required by the terms thereof;”. 

(2) Section 6.01(l) shall be amended by deleting the words “other than the Guarantors” in sub-clause
(iii) thereof. 
 (3) Section 6.01(r) shall be amended by replacing the words “(which Indebtedness
and other obligations may be guaranteed by the Guarantors, but not any other Person)” appearing therein with the following words: “(which Indebtedness and other obligations shall not be guaranteed by any Person)”. 

(4) Section 6.01(s) shall be amended and restated in its entirety to read as follows: 

“(s) Indebtedness of the Borrower owing to any Subsidiary or Indebtedness of any Subsidiary owing to the
Borrower or any other Subsidiary; provided that (i) a Subsidiary shall have Indebtedness owing to the Borrower only to the extent permitted under the first sentence of Section 6.03(b); (ii) any Indebtedness of the Borrower
owing to any Subsidiary shall be made pursuant to an intercompany note in form and substance satisfactory to the Administrative Agent and shall be subordinated in right of payment from and after such time as the Loans shall become due and payable
hereunder (whether at maturity, acceleration or otherwise) to the indefeasible payment in full in cash of the Obligations; and (iii) such Indebtedness may be secured to the extent permitted under Section 6.02(i);”. 

(5) Section 6.01(t) shall be amended and restated in its entirety to read as follows: 

“(t) additional Indebtedness of (i) Subsidiaries and (ii) any Person that becomes a Subsidiary after
the Effective Date, in each case owing to any Person (other than the Borrower or any other Subsidiary), not exceeding at any time outstanding an aggregate amount equal to 10% of Total Stockholders’ Equity (as determined as of the most recently
ended fiscal year or fiscal quarter for which financial statements have been delivered pursuant to Section 5.01(a) or (b), as applicable); provided that, at the time of the incurrence thereof, (i) no Default has occurred and is
continuing or would result therefrom and (ii) the Net Proceeds of any such Indebtedness shall be applied in accordance with Section 2.08(b) to the extent required by the terms thereof; and”. 

  
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 B. Liens. Section 6.02 of the Credit Agreement shall be amended
as follows: 
 (1) Section 6.02(i) shall be amended by deleting the phrase “that is the direct or
indirect parent entity of such Subsidiary”. 
 (2) Section 6.02(l) shall be deleted in its entirety and
replaced with the following: “(l) [Intentionally Deleted];”. 
 (3) Section 6.02(t) shall be
amended and restated in its entirety to read as follows: 
 “(t) Liens securing obligations in respect
of Swap Agreements entered into in the ordinary course of business and not for speculative purposes; and”. 

(4) The last sentence of Section 6.02 shall be deleted in its entirety. 

C. Fundamental Changes, Etc. Section 6.03 of the Credit Agreement shall be amended as follows: 

(1) Section 6.03(a) shall be amended and restated in its entirety to read as follows: 

“(a) Mergers, Consolidations, Disposal of Assets, Etc. The Borrower will not, nor will it permit any of its
Material Subsidiaries to, merge into or consolidate with any other Person, or permit any other Person to merge into or consolidate with it, or sell, transfer, lease or otherwise dispose of (in one transaction or in a series of transactions) all or
substantially all of its assets or all or substantially all of the Equity Interests of any of its Material Subsidiaries (in each case, whether now owned or hereafter acquired), or liquidate or dissolve, except that, if at the time thereof and
immediately after giving effect thereto no Default has occurred and is continuing, (i) any Material Subsidiary may merge into the Borrower or any other Designated Party in a transaction in which the Borrower or such Designated Party, as the
case may be, is the surviving entity (provided that (x) in any such transaction involving the Borrower, the Borrower shall be the surviving entity and (y) in any such transaction involving two Designated Parties (but not the
Borrower) either Designated Party may be the surviving entity); (ii) any Material Subsidiary may merge into any Person (other than a Designated Party) in a transaction in which the surviving entity is a Material Subsidiary (provided that
if such Material Subsidiary was a Designated Party immediately prior to such transaction, such surviving entity shall be deemed to be a Designated Party); and (iii) any Material Subsidiary may sell, transfer, lease or otherwise dispose of all
or substantially all of its assets to the Borrower or another Subsidiary.” 
 (2) Section 6.03(b) shall
be amended and restated in its entirety to read as follows: 
 “(b) Certain Intercompany Transactions.
Notwithstanding anything herein to the contrary, the Borrower will not make any Investment in any Subsidiary (other than any Indebtedness permitted under Sections 6.01(b), 6.01(c), 6.01(d) and 6.01(e) and any transfers by the Borrower to any
Subsidiary of the Borrower of any Equity Interests of a Subsidiary of the Borrower that were received by the Borrower after the Effective Date by way of dividend for no consideration), unless the sum of (without duplication) (A) the aggregate
principal amount of Indebtedness of Subsidiaries owing to the Borrower (other 

  
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than any Indebtedness permitted under Sections 6.01(b), 6.01(c), 6.01(d) and 6.01(e)) at any time outstanding and (B) the aggregate amount of Investments made by the Borrower in Subsidiaries
after the Effective Date including the fair market value of Equity Interests of direct Subsidiaries of the Borrower transferred to Subsidiaries of the Borrower after the Effective Date (other than those transfers excluded pursuant to the first
parenthetical of this sentence) shall not exceed in the aggregate, an amount equal to the sum of (I) $350,000,000 plus (II) 50% of Cumulative Net Income at such time plus (III) the portion of the aggregate Net Proceeds from Equity Issuances of
the Designated Parties received after the Effective Date and not required to be applied pursuant to Section 2.08(b)(i)(A). The Borrower will not sell, transfer, lease or otherwise dispose of any property (other than any Equity Interests of any
Subsidiary to another Subsidiary of the Borrower, which shall be subject to the immediately preceding sentence), whether now owned or hereafter acquired, to any Subsidiary, other than Dispositions of property at fair market value for cash or
non-cash consideration (so long as such non-cash consideration shall be permitted under the immediately preceding sentence).” 
 D. Financial Covenants. Section 6.05 of the Credit Agreement shall be amended and restated in its entirety to read as follows: 

“SECTION 6.05. Financial Covenants. 

(a) Total Stockholders’ Equity. The Borrower will not permit Total Stockholders’ Equity at any time to be
less than the sum of (i) $1,420,000,000 plus (ii) 50% of the aggregate Net Proceeds from Equity Issuances of each of the Borrower and its Subsidiaries after December 31, 2011 plus (iii) 50% of the Consolidated
Net Income earned in each fiscal quarter ending on or after September 30, 2012 (with no deduction for a net loss in any such fiscal quarter). 
 (b) Total Debt to Total Capitalization. The Borrower will not permit Total Debt at any time to exceed 30% of Total Capitalization.” 

E. Dispositions. Section 6.07 of the Credit Agreement shall be amended as follows: (1) each reference
therein to “Loan Party” or “Loan Parties” shall be replaced with the word “Designated Party” or “Designated Parties”, respectively; and (2) clause (b) thereof shall be amended and restated in its
entirety to read as follows: 
 “(b) any Designated Party may sell, lease, transfer or otherwise
dispose of any or all of its property (including any Equity Interests of any direct Subsidiary thereof) to another Designated Party or any other Subsidiary, but only to the extent permitted under the last sentence of Section 6.03(b).”

 F. Acquisitions. Section 6.10 of the Credit Agreement shall be deleted in its entirety and
replaced with “SECTION 6.10. [Intentionally Deleted].” (and the Table of Contents shall be amended accordingly). 

  
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 G. Investments. Section 6.11 of the Credit Agreement shall be
amended as follows: (1) each reference therein to “Loan Party” or “Loan Parties” shall be replaced with the word “Designated Party” or “Designated Parties”, respectively; and (2) clause
(c) thereof shall be amended and restated in its entirety to read as follows: 
 “(c) Investments
by any Designated Party in another Designated Party or any other Subsidiary, but only to the extent not otherwise prohibited by the first sentence of Section 6.03(b);”. 

H. Restricted Payments. Section 6.12 of the Credit Agreement shall be amended by amending and replacing each
reference therein to “Loan Party” or “Loan Parties” with the word “Designated Party” or “Designated Parties”, respectively. 

I. Payments of Certain Indebtedness. Section 6.13 of the Credit Agreement shall be amended by amending and
replacing each reference therein to “Loan Party” or “Loan Parties” with the word “Designated Party” or “Designated Parties”, respectively. 

J. Additional Provisions Applicable to Certain Negative Covenants. Section 6.14 of the Credit Agreement shall
be amended by amending and replacing each reference therein to “Loan Party” or “Loan Parties” with the word “Designated Party” or “Designated Parties”, respectively. 

2.08. Events of Default. Article VII of the Credit Agreement shall be amended as follows: 

A. Clause (c), (d), (e) thereof shall be amended and restated in their entirety to read as follows: 

“(c) any representation or warranty made or deemed made by or on behalf of the Borrower in or in connection with this
Agreement or any other Loan Document or any amendment or modification hereof or thereof, or in any report, certificate, financial statement or other document furnished pursuant to or in connection with this Agreement or any other Loan Document or
any amendment or modification hereof or thereof, shall prove to have been incorrect in any material respect when made or deemed made; 
 (d) the Borrower shall fail to observe or perform any covenant, condition or agreement contained in Section 5.02(a), Section 5.02(h) or Section 5.10 or Article VI hereof; 

(e) the Borrower shall fail to observe or perform any covenant, condition or agreement contained in this Agreement (other
than those specified in clause (a), (b) or (d) of this Article) or any other Loan Document and such failure shall continue unremedied for a period of 30 or more days after notice thereof from the Administrative Agent (given at the
request of any Lender) to the Borrower;”. 
 B. Clause (o) thereof shall be amended and restated in its
entirety to read as follows. 
 “(o) except in accordance with the express terms thereof, any of the Loan
Documents shall for any reason cease to be in full force and effect or to be valid and binding on the Borrower, or the validity or enforceability thereof shall be contested by the Borrower;”. 

  
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 C. Each reference to “any Loan Party” in the language contained in
Article VII immediately following clause (o) thereof shall be replaced with the words “the Borrower”. 

2.09. Administrative Agent. Article VIII of the Credit Agreement shall be amended as follows: 

A. The second paragraph of Article VIII shall be deleted in its entirety. 

B. The ninth paragraph of Article VIII shall be amended by replacing the words “any Loan Party” in the
first sentence thereof with the words “the Borrower”. 
 C. The tenth paragraph of Article VIII
shall be deleted in its entirety. 
 D. The eleventh paragraph of Article VIII shall be amended and restated
in its entirety to read as follows: 
 “It is the purpose of this Agreement and the other Loan Documents
that there shall be no violation of any Law of any jurisdiction denying or restricting the right of banking corporations or associations to transact business as agent or trustee in such jurisdiction. It is recognized that in case of litigation under
this Agreement or any of the other Loan Documents, and in particular in case of the enforcement of any of the Loan Documents, or in case the Administrative Agent deems that by reason of any present or future Law of any jurisdiction it may not
exercise any of the rights, powers or remedies granted herein or in any of the other Loan Documents or take any other action which may be desirable or necessary in connection therewith, the Administrative Agent is hereby authorized to appoint an
additional individual or institution selected by the Administrative Agent in its sole discretion as a separate trustee, co-trustee, administrative agent, administrative sub-agent or administrative co-agent (any such additional individual or
institution being referred to herein individually as a “Supplemental Administrative Agent” and collectively as “Supplemental Administrative Agents”). Should any instrument in writing from the Borrower be required by
any Supplemental Administrative Agent so appointed by the Administrative Agent for more fully and certainly vesting in and confirming to him or it such rights, powers, privileges and duties, the Borrower shall execute, acknowledge and deliver any
and all such instruments promptly upon request by the Administrative Agent. In case any Supplemental Administrative Agent, or a successor thereto, shall die, become incapable of acting, resign or be removed, all the rights, powers, privileges and
duties of such Supplemental Administrative Agent, to the extent permitted by Law, shall vest in and be exercised by the Administrative Agent until the appointment of a new Supplemental Administrative Agent.” 

2.10. Amendments. Section 9.02(b) of the Credit Agreement shall be amended and restated in its entirety to read as follows:

 “(b) Amendments. Neither this Agreement nor any provision hereof may be waived, amended or
modified except pursuant to an agreement or agreements in writing entered into by the Borrower and the Required Lenders or by the Borrower and the Administrative Agent with the consent of the Required Lenders; provided that no such agreement
shall (i) increase the Commitment of any Lender without the written consent of such Lender, (ii) reduce the principal amount of any Loan or reduce the rate of interest 

  
 - 10 -

 
thereon, or reduce any fees payable hereunder, without the written consent of each Lender affected thereby, (iii) postpone the scheduled date of payment of the principal amount of any Loan,
or any interest thereon, or any fees payable hereunder, or reduce the amount of, waive or excuse any such payment, or postpone the scheduled date of expiration of any Commitment, without the written consent of each Lender affected thereby,
(iv) change Section 2.15(b), (c) or (d) in a manner that would alter the pro rata sharing of payments required thereby, without the written consent of each Lender or (v) change any of the provisions of this Section or the
definition of the term “Required Lenders” or any other provision hereof specifying the number or percentage of Lenders required to waive, amend or modify any rights hereunder or make any determination or grant any consent hereunder,
without the written consent of each Lender; and provided further that no such agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent hereunder without the prior written consent of the Administrative
Agent. 
 Notwithstanding anything herein to the contrary, the Administrative Agent may amend or modify this
Agreement without the consent of any Lender or the Required Lenders (but with the consent of the Borrower) to correct an obvious error or any error or omission of a technical nature.” 

2.11. Expenses. Section 9.03(a) of the Credit Agreement shall be amended by deleting clause (iii) thereof in its
entirety and replacing the comma, immediately prior to clause (ii) thereof, with the word “and”. 
 2.12.
Right of Setoff. Section 9.08 of the Credit Agreement shall be amended by deleting in their entirety the words “or any other Loan Party” in the fifth line thereof and the words “and the other Loan Parties” in the
sixth line thereof. 
 2.13. Guarantee. Article X of the Credit Agreement shall be deleted in its entirety (and the
Table of Contents shall be amended accordingly). 
 2.14. Exhibits. The Exhibits to the Credit Agreement shall be amended
as follows: 
 A. Exhibit B (Pledge Agreement). Exhibit B to the Credit Agreement shall be deleted in
its entirety (and the Table of Contents shall be amended by deleting “EXHIBIT B-Form of Pledge Agreement”). 
 B. Exhibit C (Guarantee Joinder Agreement). Exhibit C to the Credit Agreement shall be deleted in its entirety (and the Table of Contents shall be amended by deleting “EXHIBIT C-Form of
Guarantee Joinder Agreement”). 
 C. Exhibit D (Form of Section 2.14(e) Certificate).
Exhibit D to the Credit Agreement shall be re-lettered as “EXHIBIT B” (and the Table of Contents shall be amended accordingly”), and each reference in the Credit Agreement to “Exhibit D” shall be amended to refer
to “Exhibit B”. 

  
 - 11 -

 2.15. Commitments. As of the Amendment No. 1 Effective Date, the Commitments of
the Lenders under Credit Agreement shall be as set forth in Schedule 1.01A to this Amendment. 
 SECTION 3. Representations
and Warranties. The Borrower represents and warrants to the Administrative Agent and the Lenders that, as of the Amendment No. 1 Effective Date (as defined below), (a) the representations and warranties of the Borrower set forth in the
Credit Agreement and each other Loan Document, in each case as amended hereby, are true and correct in all material respects (or, in the case of such representations and warranties qualified as to materiality, in all respects) on and as of the
Amendment No. 1 Effective Date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date); and (b) no Default shall have occurred and be continuing under the Credit
Agreement as amended hereby. 
 SECTION 4. Conditions to Effectiveness of Amendment. The amendments to the Credit
Agreement set forth in Section 2 hereof shall become effective on the date (the “Amendment No. 1 Effective Date”) on which each of the following conditions precedent shall have been satisfied in a manner or in form and
substance reasonably satisfactory to the Administrative Agent: 
 (a) Executed Counterparts. The
Administrative Agent shall have received one or more counterparts of this Amendment signed on behalf of the Borrower, each other Loan Party, each Lender and the Administrative Agent; and 

(b) Payment of Fees and Expenses. The Borrower shall have paid to the Administrative Agent (i) for the account
of each Lender which has executed and delivered this Amendment on or prior to 5:00 p.m. (New York City time) on November 14, 2012, an amendment fee equal to 0.10% of such Lender’s Commitment as in effect immediately prior to the Amendment
No. 1 Effective Date (but not including any portion of such Commitment for which a fee is payable to such Lender under clause (ii) below), (ii) for the account of each Lender which immediately prior to the Amendment No. 1
Effective Date shall have acquired an additional Commitment pursuant to Section 2.16(b)(iv) of the Credit Agreement (and, in that connection, shall have entered into an Assignment and Assumption with respect to such additional Commitment
pursuant to the Credit Agreement prior to or substantially concurrently with the Amendment No. 1 Effective Date) and which has executed and delivered this Amendment, a fee equal to 0.425% of such Lender’s additional Commitment (as set
forth in such Assignment and Assumption) (it being understood that the payment of such fees under clauses (i) and (ii) above shall be payable on, and subject to the occurrence of, the Amendment No. 1 Effective Date) and (iii) for
the account of the relevant Person entitled thereto, all other fees, and all reasonable out-of-pocket costs and expenses incurred by the Administrative Agent and the Collateral Agent (as defined in the Pledge Agreement), in each case separately
agreed to in writing by the Borrower or required by the terms of the Credit Agreement to be paid or reimbursed in connection with this Amendment and the transactions contemplated hereby, including, without limitation, the reasonable fees and
expenses of counsel to the Administrative Agent and the Collateral Agent incurred in connection with this Amendment and related matters to the extent invoiced. 

  
 - 12 -

 SECTION 5. Release of Guarantees and Collateral. As of the Amendment No. 1
Effective Date, the Lenders (a) hereby agree that all Obligations of each Guarantor and each Grantor (as defined in the Pledge Agreement) under the Credit Agreement and the other Loan Documents to which it is a party are hereby released and
terminated and, without limiting the foregoing, the Pledge Agreement and the security interests and other liens granted thereunder to or in favor of the Collateral Agent for the benefit of the Lenders, shall be released and terminated and the
Grantors shall cease to have any rights and obligations thereunder, all without further action by any Person necessary to give effect thereto, and (b) hereby direct and authorize the Collateral Agent (i) to execute and/or deliver (as
applicable) Uniform Commercial Code termination statements (and, to the extent permitted under the Uniform Commercial Code in effect in any relevant jurisdiction, the Lenders and the Collateral Agent hereby authorize the Borrower and its counsel and
other designees, without further notice, to prepare and file such termination statements at any time from and after the Amendment No. 1 Effective Date) and such other instruments of release pertaining to such security interests and other liens
as the Borrower may reasonably request to effectuate, or reflect of public record, such release of all such security interests and liens and (ii) to surrender to the Borrower any and all possessory Collateral heretofore delivered to the
Collateral Agent by the Borrower or any of its Subsidiaries pursuant to the Pledge Agreement, all without recourse to or warranty by the Collateral Agent, the Lenders and the Administrative Agent. By their execution and delivery of this Amendment,
the Subsidiaries of the Borrower that are Guarantors and Grantors hereby acknowledge and agree to the terms of this Amendment and the releases under this Section. The parties hereto agree that, notwithstanding anything herein to the contrary,
effective as of the Amendment No. 1 Effective Date, the Guarantors shall cease to be parties to the Credit Agreement and have any rights and obligations thereunder. 
 SECTION 6. Confirmation of Loan Documents. As of the Amendment No. 1 Effective Date, the Borrower hereby confirms and ratifies all of its obligations under the Credit Agreement and the other
Loan Documents, in each case as amended hereby. 
 SECTION 7. Miscellaneous. Except as herein provided, the Credit
Agreement shall remain unchanged and in full force and effect. This Amendment shall constitute a “Loan Document” for all purposes of the Credit Agreement and shall be administered and construed pursuant to the terms of the Credit
Agreement. The Borrower shall pay all reasonable expenses incurred by the Administrative Agent, including the reasonable fees, charges and disbursements of Milbank, Tweed, Hadley & McCloy LLP, special New York counsel to JPMCB, in
connection with the preparation, negotiation, execution and delivery of, and satisfaction of the conditions under, this Amendment. This Amendment may be executed in any number of counterparts, all of which taken together shall constitute one and the
same agreement and any of the parties hereto may execute this Amendment by signing any such counterpart. This Amendment shall be governed by, and construed in accordance with, the law of the State of New York. 

[remainder of page intentionally left blank] 

  
 - 13 -

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

			
	 FIRST AMERICAN FINANCIAL
 CORPORATION

		
	By	 	 /s/ Mark Seaton

		 	Name: Mark Seaton
		 	Title: SVP, Finance

 
			
	GUARANTORS
	
	FIRST AMERICAN DATA CO., LLC
		
	By	 	 /s/ Robert Karraa

		 	Name: Robert Karraa
		 	Title: President
	
	FIRST AMERICAN DATA TREE LLC
		
	By	 	 /s/ Robert Karraa

		 	Name: Robert Karraa
		 	Title: President
	
	DATA TRACE INFORMATION SERVICES LLC
		
	By	 	 /s/ Robert Karraa

		 	Name: Robert Karraa
		 	Title: President
	
	SMART TITLE SOLUTIONS LLC
		
	By	 	 /s/ Robert Karraa

		 	Name: Robert Karraa
		 	Title: President

 
			
	LENDERS
	
	   JPMORGAN CHASE BANK, N.A.,
         individually and as Administrative Agent

		
	By	 	 /s/ Kimberly Dauber

		 	Name: Kimberly Dauber
		 	Title: Vice President

 
			
	 U.S. BANK NATIONAL ASSOCIATION

		
	 By
	 	 /s/ James F. Cooper

		 	 Name: James F. Cooper

		 	 Title: Sr. Vice President

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION
		
	 By
	 	 /s/ Grainne Pergolini

		 	 Name: Grainne Pergolini

		 	 Title: Director

 
			
	UNION BANK
		
	 By
	 	 /s/ Kyle J. Bower

		 	 Name: Kyle J. Bower

		 	 Title: Vice President

 
			
	BMO HARRIS BANK N.A.
		
	 By
	 	 /s/ Todd Senger

		 	 Name: Todd Senger

		 	 Title: MD

 
			
	KEY BANK NATIONAL ASSOCIATION
		
	 By
	 	 /s/ James Cribbet

		 	 Name: James Cribbet

		 	 Title: SVP

 
			
	BANK OF THE WEST
		
	 By
	 	 /s/ Dale Paterson

		 	 Name: Dale Paterson

		 	 Title: Senior Vice President

 
			
	COMPASS BANK
		
	 By
	 	 /s/ Ramon Garcia

		 	 Name: Ramon Garcia

		 	 Title: Vice President

 
			
	CITIBANK, N.A.
		
	 By
	 	 /s/ Robert Porwick

		 	 Name: Robert Porwick

		 	 Title: Senior Vice President

 
			
	COMERICA BANK
		
	 By
	 	 /s/ Thomas M. Hicks

		 	 Name: Thomas M. Hicks

		 	 Title: Vice President / Alt Group Mgr

 
			
	BOKF, N.A. dba BANK OF OKLAHOMA
		
	 By
	 	 /s/ Brian Warden

		 	 Name: Brian Warden

		 	 Title: Vice President

 
			
	CAPITAL ONE, N.A.
		
	 By
	 	 /s/ Gina Monette

		 	 Name: Gina Monette

		 	 Title: Vice President

 
			
	BANK OF AMERICA, N.A.
		
	 By
	 	 /s/ Jason Cassity

		 	 Name: Jason Cassity

		 	 Title: Director

 
			
	CITY NATIONAL BANK
		
	 By
	 	 /s/ Bill Kelly

		 	 Name: Bill Kelly

		 	 Title: Vice President

 
			
	TAIWAN COOPERATIVE BANK LOS ANGELES BRANCH
		
	 By
	 	 /s/ LI-HUA HUANG

		 	 Name: LI-HUA HUANG

		 	 Title: VP & GENERAL MANAGER

 
			
	BANK OF HAWAII
		
	 By
	 	 /s/ Anna Hu

		 	 Name: Anna Hu

		 	 Title: Vice President

 
			
	BANK OF TAIWAN, LOS ANGELES BRANCH
		
	 By
	 	 /s/ Chwan-Ming Ho

		 	 Name: Chwan-Ming Ho

		 	 Title: Vice President & General Manager

 
			
	E. SUN COMMERCIAL BANK, LTD., LOS ANGELES BRANCH
		
	 By
	 	 /s/ Edward Chen

		 	 Name: Edward Chen

		 	 Title: VP & General Manager

 
			
	BARCLAYS BANK PLC
		
	 By
	 	 /s/ Lisa Minigh

		 	 Name: Lisa Minigh

		 	 Title: Assistant Vice President

 
			
	EAST WEST BANK
		
	 By
	 	 /s/ Martin Kim

		 	 Name: Martin Kim

		 	 Title: Vice President

 
			
	LAND BANK OF TAIWAN LOS ANGELES BRANCH
		
	 By
	 	 /s/ Juifu Chien

		 	 Name: Juifu Chien

		 	 Title: Vice President & General Manager

 SCHEDULE 1.01A 
 Amendment No. 1 Effective Date Commitments 
  

					
	 Name of Lender
	  	Commitment ($)	 
	 JPMORGAN CHASE BANK, N.A.
	  	$	48,500,000	  
	 U.S. BANK NATIONAL ASSOCIATION
	  	$	48,500,000	  
	 WELLS FARGO BANK, NATIONAL ASSOCIATION
	  	$	48,000,000	  
	 BMO HARRIS BANK, N.A.
	  	$	42,000,000	  
	 KEY BANK NATIONAL ASSOCIATION
	  	$	42,000,000	  
	 UNION BANK
	  	$	42,000,000	  
	 BANK OF THE WEST
	  	$	40,000,000	  
	 COMPASS BANK
	  	$	40,000,000	  
	 CITIBANK, N.A.
	  	$	35,000,000	  
	 COMERICA BANK
	  	$	35,000,000	  
	 BANK OF OKLAHOMA
	  	$	25,000,000	  
	 CAPITAL ONE, N.A.
	  	$	25,000,000	  
	 BANK OF AMERICA, N.A.
	  	$	20,000,000	  
	 CITY NATIONAL BANK
	  	$	20,000,000	  
	 TAIWAN COOPERATIVE BANK LOS ANGELES BRANCH
	  	$	20,000,000	  
	 BANK OF HAWAII
	  	$	15,000,000	  
	 BANK OF TAIWAN, LOS ANGELES BRANCH
	  	$	12,000,000	  
	 E. SUN COMMERCIAL BANK, LTD., LOS ANGELES BRANCH
	  	$	12,000,000	  
	 BARCLAYS BANK PLC
	  	$	10,000,000	  
	 EAST WEST BANK
	  	$	10,000,000	  
	 LAND BANK OF TAIWAN LOS ANGELES BRANCH
	  	$	10,000,000	  
		  	  
	  
	 
	 TOTAL
	  	$	600,000,000	  

 Schedule 1.01A 

 SCHEDULE 3.15 
 Indebtedness 
  

							
	 Borrower
	  	 Debt
	  	As of
9/30/2012
(in thousands)	 
	 First American Financial Corporation
	  	Secured note due to First American Title Insurance Company	  	$	83,900	  
	 First American Title Insurance Co. (1)
	  	Trust deed notes with maturities through 2032, collateralized by land and buildings	  	$	42,600	  
	 First American Title Insurance Co. (1)
	  	Other notes and contracts payable with maturities through 2020	  	$	29,900	  
	 First American Title Insurance Co. (1)
	  	Guarantees of debt and letters of credit	  	$	10,900	  
	 First American Financial Corporation
	  	Guarantees of debt and letters of credit	  	$	11,800	  

  

	(1)	First American Title Insurance Company or one of its Subsidiaries or Affiliates 

 Schedule 3.15 to Credit Agreement 

 SCHEDULE 3.16 
 Liens 
  

							
	 Borrower
	  	 Lien
	  	As of
9/30/2012
(in thousands)	 
	 First American Financial Corporation
	  	Secured note due to First American Title Insurance Company	  	$	83,900	  
	 First American Title Insurance Co. (1)
	  	Trust deed notes with maturities through 2032, collateralized by land and buildings	  	$	42,600	  

  

	(1)	First American Title Insurance Company or one of its Subsidiaries or Affiliates 

 In addition, see also the attached UCC Reports. 
 Schedule 3.16 to Credit
Agreement

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