Document:

EX-10.1

 Exhibit 10.1 

Execution Version 

FOURTH AMENDMENT TO 

FOURTH AMENDED AND RESTATED CREDIT AGREEMENT 

This FOURTH AMENDMENT TO FOURTH AMENDED AND RESTATED CREDIT AGREEMENT, dated as of December 29, 2017 (this
“Amendment”), is by and among Commercial Metals Company, a Delaware corporation (the “Company”), CMC International Finance S.à r.l., a company organized and existing under the laws of Luxembourg as a
société à responsabilité limitée (the “Foreign Borrower”) (the Company, together with the Foreign Borrower, collectively, the “Borrowers”), the lending institutions party hereto
and Bank of America, N.A., as administrative agent (the “Administrative Agent”) for itself and the other Lenders (as defined below) party to that certain Credit Agreement, dated as of June 26, 2014 (as amended to date, and as
amended, supplemented, amended and restated or otherwise modified and in effect from time to time, the “Credit Agreement”), by and among the Borrowers, the lending institutions party thereto (the “Lenders”) and the
Administrative Agent. Capitalized terms used herein without definition shall have the meanings assigned to such terms in the Credit Agreement. 

WHEREAS, the Company intends to enter into the Contemplated Acquisition (as defined below) of the Target (as defined below) pursuant to
a certain purchase agreement to be entered into by the Company and the Target on terms and conditions satisfactory to the Administrative Agent (together with the exhibits and schedules thereto, as amended, restated, supplemented or otherwise
modified from time to time, the “Contemplated Purchase Agreement”). 
 WHEREAS, the Borrowers have requested that
the Lenders (i) authorize, notwithstanding the amount set forth in Section 2.14(a) of the Credit Agreement, the potential incurrence by the Company of Incremental Term Loans up to an amount of $600,000,000 subject to
the terms and conditions set forth in Section 2.14 of the Credit Agreement (as amended hereby), to (w) fund the Contemplated Acquisition, (x) repay certain existing indebtedness of the Target and its subsidiaries,
and (y) pay transaction fees and expenses related thereto, and (ii) amend the Credit Agreement to make certain further revisions to the terms and conditions of the Credit Agreement as specifically set forth in this Amendment. 

NOW THEREFORE, in consideration of the foregoing premises and for other good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the Borrowers, the Required Lenders and the Administrative Agent hereby agree as follows: 
 § 1
Amendments to Credit Agreement. 
 The Borrowers, the Administrative Agent and the Lenders party hereto, hereby agree as of the
Effective Date (as defined below) to amend the Credit Agreement as follows: 
 (a) Section 1.01 of the Credit Agreement is hereby
amended by adding the following defined terms thereto in proper alphabetical order to read as follows: 

“Acquisition Incremental Loans” has the meaning specified in Section 2.14(a). 

“Contemplated Acquisition” has the meaning specified in Section 2.14(a). 

 “Contemplated Purchase Agreement” has the meaning specified in
Section 2.14(a). 
 “LCA Election” means the Company’s election to treat an
acquisition or other specified investment as a Limited Condition Acquisition. 
 “LCA Test Date” has the
meaning specified in Section 1.10. 
 “Limited Condition Acquisition” means
(i) any Permitted Acquisition or other Investment permitted hereunder by the Company or one or more of its Material Subsidiaries, including by way of merger, consolidation or amalgamation, for which the Company has obtained or intends to obtain
third party financing, or (ii) any redemption, repurchase, defeasance, satisfaction and discharge or repayment of Indebtedness requiring irrevocable notice in advance of such redemption, repurchase, defeasance, satisfaction and discharge or
repayment. 
 “Target” has the meaning specified in Section 2.14(a). 

“Term B Loan” means a loan made by any Term Lender in the form of term loan b pursuant to an Incremental Term
Commitment. 
 “Term B Loan Amendment” has the meaning specified in
Section 2.14(k). 
 (b) Article I of the Credit Agreement is hereby amended to add a new
Section 1.10 thereto and shall read in its entirety as follows: 
 (c) “Notwithstanding anything to the contrary in
this Agreement and solely for the purpose of (A) measuring the financial ratios or any relevant covenant with respect to the incurrence of any Indebtedness (including any Incremental Revolving Commitments or Incremental Term Commitments) or
Liens or the making of any Investments or Dispositions or (B) determining compliance with representations and warranties or the occurrence of any Default or Event of Default, in each case, in connection with Borrower’s election to treat an
acquisition or other specified investment as a Limited Condition Acquisition, the date of determination of whether any such action (i.e., the incurrence of any Indebtedness or Liens or the making of any Investments or Dispositions) is
permitted hereunder shall be deemed to be the date on which the definitive agreements for such Limited Condition Acquisition are entered into (the “LCA Test Date”), and if, after giving pro forma effect to the Limited Condition
Acquisition and the other transactions to be entered into in connection therewith as if they had occurred at the beginning of the most recent test period ending prior to the LCA Test Date, the Company could have taken such action on the relevant LCA
Test Date in compliance with such financial ratio, covenant, representation or warranty, then such financial ratio, covenant, representation or warranty shall be deemed to have been complied with.” 

  
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 (d) Section 2.14(a) of the Credit Agreement is hereby amended and restated in its entirety
to read as follows: 
 “(a) Request for Increase. Provided (i) subject to Section 1.10, there
exists no Default both before and after giving effect to any Incremental Revolving Commitment or Incremental Term Commitment (including compliance by the Company with the covenants set forth in Sections 7.10, 7.11 and 7.12
determined on a pro forma basis) and (ii) upon notice to the Administrative Agent (which shall promptly notify the Lenders), the Company may from time to time, request, and, subject to this Section 2.14 (including Section 2.14(c))
Lenders hereby consent to, (x) an increase in the Revolving Credit Facility (each, an “Incremental Revolving Commitment”) and/or (y) the establishment of one or more new term loan commitments (each, an “Incremental
Term Commitment”), by an amount (for all such requests in the aggregate) not exceeding $250,000,000; provided that (A) any such request for an increase shall be in a minimum amount of $5,000,000, and (B) no such increase
shall increase the Letter of Credit Sublimit, the Domestic Swing Line Sublimit, the Foreign Swing Line Sublimit or the Foreign Borrower Sublimit. At the time of sending such notice, the Company (in consultation with the Administrative Agent) shall
specify the time period within which each Lender is requested to respond (which shall in no event be less than ten (10) Business Days from the date of delivery of such notice to the Lenders or such other time period as agreed to by the Borrower
and any Lender providing an Incremental Revolving Commitment or an Incremental Term Commitment); provided further that, solely to the extent the proceeds thereof are applied to (w) fund the acquisition (the “Contemplated
Acquisition”) by the Company of certain assets of the business, and certain outstanding common stock, belonging directly or indirectly to GNA Financing, Inc., a Delaware corporation, or certain of its subsidiaries and affiliates
(collectively, the “Target”), pursuant to a certain purchase agreement to be entered into by the Company and the Target on terms and conditions satisfactory to the Administrative Agent (together with the exhibits and schedules
thereto, as amended, restated, supplemented or otherwise modified from time to time, the “Contemplated Purchase Agreement”), (x) repay certain existing indebtedness of the Target and its subsidiaries, and (y) pay
transaction fees and expenses related thereto, the Company may request Incremental Term Commitments up to an amount of $600,000,000 (the “Acquisition Incremental Loans”); provided further that, (i) immediately after the
incurrence of the Acquisition Incremental Loans, or (ii) in the event that the Contemplated Acquisition is consummated without the incurrence of the Acquisition Incremental Loans, the amount that the Company may request hereunder shall not
exceed $250,000,000.” 
 (e) Section 2.14(f) of the Credit Agreement is hereby amended to add a new sentence to the end thereof
to read as follows: 
 “Notwithstanding anything to the contrary in this Section and solely in the case of any Incremental Commitments
incurred in connection with a Limited Condition Acquisition, the Company’s compliance with any representation or warranty, covenant or other condition shall be determined in accordance with Section 1.10 hereof.
Notwithstanding Section 2.14(f) or in any other provision of any Loan Document, if the proceeds of any Incremental Term Loans are to incurred in connection with a Limited Condition Acquisition and the Lenders or other
lenders providing such Incremental Term Loans so agree, the availability thereof shall be subject to customary “SunGard” conditionality.” 

  
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 (f) Section 2.14 of the Credit Agreement is hereby amended to add a new clause
(k) to read as follows: 
 “(k) Further Amendments to this Agreement. In the event that the Acquisition Incremental
Loans are incurred in the form of Term B Loans, the following amendments to this Agreement may be effected pursuant to an Increase Joinder among the Borrowers, the Administrative Agent and the lenders providing the Acquisition Incremental Loans (the
“Term B Loan Amendment”): 
  

	 	(i).	Sections 1.01 and 2.05(b) of this Agreement may be amended to include a customary excess cash flow mandatory prepayment provision requiring the Borrowers to prepay on a pro rata basis any amounts
outstanding under any Term Loan facility incurred under the Credit Agreement with excess cash flow on an annual basis; 

  

	 	(ii).	Section 2.14 of this Agreement may be amended to (x) clarify that any Term B Loans shall rank pari passu in right of payment and of security with the Revolving Credit Loans and the
Term Loans and (y) include a customary “most favored nation” provision, which will apply only for so long as any Acquisition Incremental Term Loans are outstanding, requiring that, in the event that following the incurrence of the
Acquisition Incremental Loans, additional Incremental Term Commitments are incurred in the form of Term B Loans, for which the ‘all-in yield’ applicable to such additional Incremental Term
Commitments is greater than the applicable ‘all-in-yield’ payable to the lenders providing the Acquisition Incremental Loans by a threshold to be agreed in the
Term B Loan Amendment, then the interest rate (together with the applicable rate floor) with respect to the Acquisition Incremental Loans shall be increased by the applicable difference; 

 

	 	(iii).	Section 8.02 of this Agreement may be amended to clarify that, for purposes of determining whether the Required Lenders have consented, or requested the Administrative Agent, to undertake any
actions listed in Section 8.02 of this Agreement solely in connection with an Event of Default in respect of any default of performance or compliance with the covenants under Section 7.10 or
7.11 of this Agreement, the Acquisition Incremental Loans in the form of Term B Loans shall not be included in the calculation of the Required Lenders. For the avoidance of doubt, once any enforcement action has been taken at the request of
the Required Lenders (excluding the lenders holding Acquisition Incremental Loans in the form of Term B Loans), the lenders providing the Acquisition Incremental Loans in the form of Term B Loans shall be entitled to direct the
Administrative Agent to take any or all of the enforcement actions with respect to the Acquisition Incremental Loans and the Administrative Agent shall, in each such case, act upon such direction; 

 

	 	(iv).	Section 11.01 of this Agreement may be amended to clarify that for purposes of determining whether the Required Lenders have (A) consented (or not consented) to any amendment,
modification, waiver, consent or other action with respect to Sections 7.10 and 7.11 of this Agreement and/or any related definitions or (B) waived any Default or Event of Default resulting from a breach of
Sections 7.10 and 7.11, the Acquisition Incremental Loans in the form of Term B Loans shall not be included in the calculation of Required Lenders; and 

  
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	 	(v).	Section 11.01 of this Agreement may be amended to require additional guarantees and security interests to guarantee and secure any and all advances to, and debts, liabilities, obligations,
covenants and duties of, any Loan Party arising under any Loan Document or otherwise with respect to any Term B Loans (the “Additional Guarantee and Security”) and to provide that, so long as any Term B Loans and any obligations in
connection thereto remain outstanding, the Collateral, including the Additional Guarantee and Security, (i) shall not be subject to the Collateral Release Event provisions set forth in Section 11.21, and (ii) shall guarantee and
secure the Term B Loans, the other Term Loans and the Revolving Credit Loans on a pari passu basis; provided that, upon termination of any commitments with respect to Term B Loans and payment in full of all Term B Loans and all
obligations in connection thereto, the Additional Guarantee and Security shall be released and the Collateral shall be subject to the Collateral Release Event provisions in Section 11.21.” 

(g) Section 7.03 of the Credit Agreement is hereby amended to (i) delete “and” at the end of subsection (l) thereof,
(ii) delete “.” at the end of subsection (m) thereof and include “; and” in lieu thereof and (iii) add thereto a new subsection (n) to read as follows: 

“(n) Indebtedness, the proceeds of which are used to (i) fund the Contemplated Acquisition, (ii) prepay certain
existing indebtedness of the Target and its subsidiaries in connection with the Contemplated Acquisition, or (iii) pay transaction fees and expenses related to the Contemplated Acquisition.” 

§ 2 Conditions to Effectiveness. This Amendment shall become effective only (A) upon execution of the
Contemplated Purchase Agreement and (B) provided that the following conditions are satisfied prior to 11:59 p.m., New York City time, on December 29, 2018 (the date upon which (A) and (B) occur being referred to herein as the
“Effective Date”): 
 (a) the Contemplated Acquisition shall have been or, substantially concurrently with the borrowing of
the Acquisition Incremental Loans, will be, consummated in accordance with the Contemplated Purchase Agreement; 
 (b) the Administrative
Agent shall have received a counterpart signature page to this Amendment, duly executed and delivered by the Borrowers, each Domestic Guarantor, each Foreign Guarantor and the Lenders consisting of at least the Required Lenders; 

(c) the Administrative Agent shall have received (i) a certified resolution of the Company authorizing the execution, delivery and
performance of this Amendment, and (ii) a certified resolution of the Foreign Borrower authorizing the execution, delivery and performance of this Amendment; 

(d) a certificate dated signed by a chief executive officer, chief financial officer, general counsel and corporate secretary, treasurer, or a
senior vice president of the Company, confirming compliance with the conditions precedent set forth in Section 2(a); 

  
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 (e) the Administrative Agent shall have received, in form and substance reasonably acceptable to
it, all incumbency certificates, certificates of no default, and such other certificates and documents as reasonably requested by the Administrative Agent; 

(f) the Administrative Agent shall have received all invoiced out of pocket fees and expenses due and owing in connection with this Amendment;
and 
 (g) the Borrowers shall have paid all invoiced fees and expenses of the Administrative Agent’s counsel, Latham & Watkins
LLP. 
 § 3 Representations and Warranties. The Borrowers represent and warrant to the Administrative Agent and
the Lenders as follows: 
 (a) the representations and warranties contained in Article V of the Credit Agreement and the other Loan
Documents are true and correct in all material respects (except that a representation or warranty that is qualified as to “materiality” or “Material Adverse Effect” shall be true and correct in all respects) on and as of the date
of this Amendment, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects (except that any representation or warranty that is qualified as
to “materiality” or “Material Adverse Effect” shall be true and correct in all respects) as of such earlier date, and except that the representations contained in Section 5.05(a) of the Credit Agreement
shall be deemed to refer to the most recent statements furnished pursuant to Section 6.01(a) of the Credit Agreement, respectively; 

(b) no event has occurred and is continuing which constitutes a Default or an Event of Default; 

(c) (i) the Borrowers have full power and authority to execute and deliver this Amendment, (ii) this Amendment has been duly executed and
delivered by the Borrowers, as the case may be, and (iii) this Amendment and the Credit Agreement, as amended hereby, constitute the legal, valid and binding obligations of the Borrowers, as the case may be, enforceable in accordance with their
respective terms, except as enforceability may be limited by applicable Debtor Relief Laws and by general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law); 

(d) neither the execution, delivery and performance of this Amendment or the Credit Agreement, as amended hereby, nor the consummation of any
transactions contemplated herein or therein, will violate any Law or conflict with any Organization Documents of either Borrower, or any indenture, agreement or other instrument to which either Borrower or any of its property is subject; and 

(e) no authorization, approval, consent, or other action by, notice to, or filing with, any Governmental Authority or other Person not
previously obtained is required for (i) the execution, delivery or performance by either Borrower of this Amendment or (ii) the acknowledgement by any Domestic Guarantor and Foreign Guarantor of this Amendment. 

  
 6 

 § 4 No Other Amendments, etc. Except as expressly provided in this
Amendment, (a) all of the terms and conditions of the Credit Agreement and the other Loan Documents (as amended and restated in connection herewith, if applicable) remain unchanged, and (b) all of the terms and conditions of the Credit
Agreement, as amended hereby, and of the other Loan Documents (as amended and restated in connection herewith, if applicable) are hereby ratified and confirmed and remain in full force and effect. Nothing herein shall be construed to be an
amendment, consent or waiver of any requirements of the Borrowers or of any other Person under the Credit Agreement or any of the other Loan Documents except as expressly set forth herein or pursuant to a written agreement executed in connection
herewith. Nothing in this Amendment shall be construed to imply any willingness on the part of the Administrative Agent or any Lender to grant any similar or future amendment, consent or waiver of any of the terms and conditions of the Credit
Agreement or the other Loan Documents. 
 § 7 Guarantors’ Acknowledgment. By signing below, each Domestic
Guarantor and Foreign Guarantor (a) acknowledges, consents and agrees to the execution, delivery and performance by the Borrowers of this Amendment, (b) acknowledges and agrees that its obligations in respect of its Domestic Guaranty or
Foreign Guaranty, as applicable, are not released, diminished, waived or modified, impaired or affected in any manner by this Amendment or any of the provisions contemplated herein, (c) ratifies and confirms its obligations under its Domestic
Guaranty or Foreign Guaranty, as applicable, and (d) acknowledges and agrees that it has no claims or offsets against, or defenses or counterclaims to, its Domestic Guaranty or Foreign Guaranty, as applicable. 

§ 8 Reference to the Credit Agreement. 

(a) Upon the effectiveness of this Amendment, each reference in the Credit Agreement to “this Agreement”, “hereunder”, or
words of like import shall mean and be a reference to the Credit Agreement, as modified hereby. This Amendment shall be a Loan Document. 

(b) The Credit Agreement, as modified herein, shall remain in full force and effect and is hereby ratified and confirmed. 

§ 9 Costs, Expenses and Taxes. The Company agrees to pay on demand all costs and expenses of the Administrative
Agent in connection with the preparation, reproduction, execution and delivery of this Amendment and the other instruments and documents to be delivered hereunder (including the reasonable fees and out-of-pocket expenses of counsel for the Administrative Agent with respect thereto). 
 §
10 Execution in 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 to be an original and
all of which when taken together shall constitute but one and the same instrument. For purposes of this Amendment, a counterpart hereof (or signature page thereto) signed and transmitted by any Person party hereto to the Administrative Agent (or its
counsel) by facsimile or other electronic imaging means (e.g., “pdf” or “tif”) is to be treated as an original. The signature of such Person thereon, for purposes hereof, is to be considered as an original signature, and the
counterpart (or signature page thereto) so transmitted is to be considered to have the same binding effect as an original signature on an original document. 

  
 7 

 § 11 Governing Law; Binding Effect. This Amendment shall be deemed to
be a contract made under and governed by and continued in accordance with the internal laws of the State of Texas applicable to agreements made and to be performed entirely within such state, provided that each party shall retain all rights arising
under federal law. This Amendment shall be binding upon the parties hereto and their respective successors and assigns. 
 § 12
Headings. Section 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. 

§ 13 ENTIRE AGREEMENT. THE CREDIT AGREEMENT, AS AMENDED BY THIS AMENDMENT, AND THE OTHER LOAN DOCUMENTS, REPRESENT
THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS BETWEEN THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES. 

[Remainder of Page Intentionally Left Blank] 

  
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 IN WITNESS WHEREOF, the undersigned have duly executed this Amendment as of the date first set
forth above. 
  

			
	COMMERCIAL METALS COMPANY,
	as Borrower
		
	By:	 	 /s/ Paul Lawrence

		 	Name: Paul Lawrence
		 	Title: Treasurer and Vice President Financial Planning and Analysis

 [Signature Page to Fourth Amendment to Fourth Amended and Restated Credit Agreement]

 
			
	 CMC INTERNATIONAL FINANCE, S.Á R.L.,

as Borrower

		
	By:	 	/s/ William M. Gooding
		 	Name: William M. Gooding
		 	Title: Class B Manager

 [Signature Page to Fourth Amendment to Fourth Amended and Restated Credit Agreement]

 
			
	 BANK OF AMERICA, N.A.,
 as
Administrative Agent

		
	By:	 	/s/ Melissa Mullis
		 	Name: Melissa Mullis
		 	Title: Assistant Vice President

 [Signature Page to Fourth Amendment to Fourth Amended and Restated Credit Agreement]

 
			
	 BANK OF AMERICA, N.A.,
 as
Lender, L/C Issuer and Swingline Lender

		
	By:	 	/s/ Scott Blackman
		 	Name: Scott Blackman
		 	Title: SVP

 [Signature Page to Fourth Amendment to Fourth Amended and Restated Credit Agreement]

 
			
	 CITIBANK, N.A.,
 as Lender
and L/C Issuer

		
	By:	 	/s/ Bradley C. Peters
		 	Name: Bradley C. Peters
		 	Title: Director

 [Signature Page to Fourth Amendment to Fourth Amended and Restated Credit Agreement]

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION
		
	By:	 	/s/ Jonathan D. Beck
		 	Name: Jonathan D. Beck
		 	Title: Vice President

 [Signature Page to Fourth Amendment to Fourth Amended and Restated Credit Agreement]

 
			
	PNC BANK, NATIONAL ASSOCIATION,
		
	By:	 	/s/ Mahir J. Desai
		 	Name: Mahir J. Desai
		 	Title: Vice President

 [Signature Page to Fourth Amendment to Fourth Amended and Restated Credit Agreement]

 
			
	 BMO HARRIS BANK N.A.
 as a
Lender

		
	By:	 	/s/ Jason Deegan
		 	Name: Jason Deegan
		 	Title: Vice President

 [Signature Page to Fourth Amendment to Fourth Amended and Restated Credit Agreement]

 
			
	 U.S. Bank, National Association

as a Lender

		
	By:	 	/s/ Steven J. Sawyer
		 	Authorized Signatory

 [Signature Page to Fourth Amendment to Fourth Amended and Restated Credit Agreement]

 
			
	 Capital One N.A.
 as a
Lender

		
	By:	 	/s/ David C. Hauglid
		 	Authorized Signatory: David C. Hauglid

 [Signature Page to Fourth Amendment to Fourth Amended and Restated Credit Agreement] 

					
	ACKNOWLEDGED AND AGREED:
	
	COMMERCIAL METALS COMPANY
		
	By:	 	 /s/ Paul Lawrence

		 	Name:	 	Paul Lawrence
		 	Title:	 	Treasurer and Vice President
		 		 	Financial Planning and Analysis
	
	STRUCTURAL METALS, INC.
	C M C STEEL FABRICATORS, INC.
	SMI STEEL LLC
	OWEN ELECTRIC STEEL COMPANY OF
	SOUTH CAROLINA
	SMI-OWEN STEEL COMPANY, INC.
	OWEN INDUSTRIAL PRODUCTS, INC.
		
	By:	 	 /s/ Paul Lawrence

		 	Name:	 	Paul Lawrence
		 	Title:	 	Treasurer
	
	CMC GH, LLC
		
	By:	 	 /s/ Paul Lawrence

		 	Name:	 	Paul Lawrence
		 	Title:	 	Treasurer and Vice President
		 		 	Financial Planning and Analysis
	
	CMC POLAND SP. Z O.O.
		
	By:	 	 /s/ Jerzy Kozicz

		 	Name:	 	Jerzy Kozicz
		 	Title:	 	President of the Management Board
		
	By:	 	 /s/ Tomasz Flak

		 	Name:	 	Tomasz Flak
		 	Title:	 	Member of the Management Board

 [Signature Page to Fourth Amendment to Fourth Amended and Restated Credit Agreement]EX-10.1

 Exhibit 10.1 

Execution Version 
 TERMINATION
AGREEMENT 
 This TERMINATION AGREEMENT, dated as of January 2, 2018 (this “Agreement”), is entered into by and
among Alipay (UK) Limited, a United Kingdom limited company (“Parent”), Matrix Acquisition Corp., a Delaware corporation and a Subsidiary of Parent (“Merger Sub”), Alipay (Hong Kong) Holding Limited, a Hong Kong
limited company (“Guarantor”) and MoneyGram International, Inc., a Delaware corporation (the “Company”). Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Merger Agreement
(as defined below). 
 WHEREAS, on January 26, 2017, the parties hereto entered into the Agreement and Plan of Merger, which was
amended on April 15, 2017 (as amended, the “Merger Agreement”). 
 WHEREAS, concurrently with the execution of the
Merger Agreement, Parent provided to the Company an irrevocable payment guarantee (the “Payment Guarantee”) issued by Citibank, N.A., Hong Kong Branch (the “Issuing Bank”) in the face amount of $45,000,000 for the
benefit of the Company; 
 WHEREAS, the parties to the Merger Agreement have determined that they desire to terminate the Merger Agreement
and cancel the Payment Guarantee on the terms and conditions set forth herein. 
 NOW, THEREFORE, in consideration of the foregoing premises
and the respective representations, warranties, covenants and agreements contained herein, and intending to be legally bound, the parties hereto hereby agree as follows: 

1.    Termination of Merger Agreement. Pursuant to Section 7.1(a) of the Merger Agreement, the Merger
Agreement is hereby terminated by mutual consent of the parties and shall be of no further force and effect. Concurrently herewith, Parent has deposited in a bank account designated by the Company immediately available funds in the amount of
$30 million, and in consideration thereof, the parties agree that no other termination fees or other amounts are or will be payable to each other under the Merger Agreement. The parties have determined that the termination of the Merger
Agreement is in their mutual benefit and there shall be no further liability or obligation on the part of any of the parties with respect to the Merger Agreement and the transactions contemplated thereby, other than as expressly forth in this
Agreement. For the avoidance of doubt, the Confidentiality Agreement, dated November 11, 2016 as amended from time to time, between the Company and API (Hong Kong) Investment Limited and the Confidentiality Agreement, dated January 12,
2017 as amended from time to time, between the Company and Guarantor (collectively, the “Confidentiality Agreements”) shall each continue to remain in full force and effect in accordance with their respective terms. 

2.    Cancellation of the Payment Guarantee. Concurrently with, or as soon as possible immediately after, the
execution and delivery of this Agreement, the Company has delivered, or will deliver, to the Issuing Bank the original executed Payment Guarantee. The Company has not made and agrees not to make any demands for payment from the Issuing Bank under
the Payment Guarantee and, as promptly as practicable after the date hereof, the Company shall execute a discharge letter in accordance with instructions from the Issuing Bank and the Company and Parent shall take any other actions required to cause
the Issuing Bank to cancel the Payment Guarantee. 

 3.    Money Transfer Change of Control Filings. The parties agree to
cooperate with each other and use reasonable best efforts to take, or cause to be taken, all actions necessary, proper or advisable to withdraw all Money Transfer Change of Control Filings and provide notice to the applicable Governmental Entities
of the termination of the Merger Agreement and the transactions contemplated thereby. Each of the Company and Parent shall reasonably cooperate with the other party to ensure that such actions do not adversely impact any licenses, governmental
approvals or other authorizations (or applications thereof) of Parent or the Company, as applicable, or their respective affiliates (as defined in the Merger Agreement). 

4.    Strategic Business Cooperation. Following the execution of this Agreement, the parties hereto and their
respective affiliates agree to work collaboratively to explore and develop non-exclusive strategic initiatives with respect to bringing together their capabilities in the remittance and digital payments
markets to provide their respective customers with user friendly, rapid response and low-cost money transfer services into China, India, the Philippines, and other markets that may be mutually agreed by the
parties. Such collaboration is intended to mutually benefit the parties hereto by seeking to increase their remittance volumes and market share and is not intended for the benefit of any third party. Examples of such efforts to cooperate could
include the matters described in Exhibit A hereto. 
 5.    Release of Claims.  

(a)    The Company, for and on behalf of itself and the Company Related Parties, hereby fully releases and discharges
Parent, Merger Sub, Guarantor and all Parent Related Parties from any and all liability, claims, actions, causes of action, obligations, demands, costs, damages, expenses, fees and charges of whatever nature (“Claims”), known or
unknown, mature or unmatured, contingent or fixed, liquidated or unliquidated, accrued or unaccrued, in connection with, arising out of or relating to the Merger Agreement or the transactions contemplated thereby, including (i) any Claim that
the Company is entitled to the Parent Termination Fee or the Parent Regulatory Termination Fee, (ii) any acts, omissions, disclosures or communications related to the Merger Agreement or the transactions contemplated thereby and (iii) any
acts, omissions, disclosures or communications related to the termination of the Merger Agreement and the negotiation of this Agreement (the “Company Released Claims”); provided that, for the avoidance of doubt, no party hereto
shall be released from any breach, non-performance, action or failure to act under this Agreement or the Confidentiality Agreements occurring on or after the date hereof. 

(b)    Parent, Merger Sub and Guarantor, for and on behalf of themselves and the Parent Related Parties, hereby fully
release and discharge the Company and all Company Related Parties from any and all Claims, mature or unmatured, contingent or fixed, liquidated or unliquidated, accrued or unaccrued, in connection with, arising out of or relating to the Merger
Agreement or the transactions contemplated thereby, including (i) any Claim that Parent is entitled to the Termination Fee, (ii) any acts, omissions, disclosures or communications related to the Merger Agreement or the transactions
contemplated thereby and (iii) any acts, omissions, disclosures or communications related to the termination of the Merger Agreement and the 

  
 2 

 
negotiation of this Agreement (the “Parent Released Claims” and together with the Company Released Claims, the “Released Claims”); provided that, for the
avoidance of doubt, no party hereto shall be released from any breach, non-performance, action or failure to act under this Agreement or the Confidentiality Agreements occurring on or after the date hereof.

 (c)    With respect to the Released Claims, the parties, for and on behalf of themselves and the Parent Related
Parties and Company Related Parties, as applicable, expressly waive, to the fullest extent permitted by Law, the provisions, rights, and benefits of § 1542 of the California Civil Code (and any similar Law of any other state, territory or
jurisdiction), which provides: 
 A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR
HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. 

(d)    Each of the parties hereto covenant, on behalf of itself and the Company Related Parties, in the case of the
Company, or the Parent Related Parties, in the case of Parent, Merger Sub and Guarantor, not to bring any Released Claim before any court, arbitrator, or other tribunal in any jurisdiction, whether as a claim, a cross-claim, or counterclaim. 

6.    Publicity. The initial press release concerning this Agreement and the termination of the Merger Agreement
shall be a joint press release in the form agreed by the parties hereto as set forth on Exhibit B. From the date of this Agreement until December 31, 2018, each of Parent and the Company shall consult with each other before issuing any
press release or public statement with respect to this Agreement and the termination of the Merger Agreement or the other transactions contemplated hereby and shall not issue any such press release or make any such public statement without the prior
consent of the other party, which shall not be unreasonably withheld, delayed or conditioned; provided, however, that a party may, without obtaining the prior consent of the other party (but after prior consultation, to the extent practicable in the
circumstances), issue such press release or make such public statement as may upon the advice of outside counsel be required by applicable Law or the rules and regulations of NASDAQ. Nothing in this Section 6 shall limit
the ability of any party hereto to make additional disclosures that are consistent in all material respects with the prior permitted public disclosures regarding the transactions contemplated by this Agreement. 

7.    Non-Disparagement. From the date of this Agreement until
December 31, 2018, except as required by applicable Law or the rules or regulations of any Governmental Entity or by the order of any court of competent jurisdiction, or in connection with any Claim not prohibited hereby, no party hereto shall,
directly or indirectly, make any public statements or any private statements to third parties (in each case, oral or written) that could reasonably be understood as disparaging the business or conduct of the other parties hereto or their respective
affiliates (or other Company Related Parties or Parent Related Parties, as applicable). 

  
 3 

 8.    Representations and Warranties of the Company. 

(a)    The Company has full corporate power and authority to execute and deliver this Agreement and to consummate the
transactions contemplated hereby. The execution and delivery of this Agreement and the consummation by the Company of the transactions contemplated hereby have been duly and validly approved by all necessary corporate action of the Company and no
other corporate or stockholder proceedings on the part of the Company are necessary to approve this Agreement or to consummate the transactions contemplated hereby. This Agreement has been duly and validly executed and delivered by the Company and
(assuming due authorization, execution and delivery by Parent, Merger Sub and Guarantor) constitutes a valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as enforcement may be limited by
general principles of equity whether applied in a court of Law or a court of equity and by bankruptcy, insolvency and similar Laws affecting creditors’ rights and remedies generally. 

(b)    No consents, authorizations or approvals of, or filings or registrations with, any Governmental Entities are
required to be obtained or made by or on behalf of the Company or any of its Subsidiaries in connection with the execution, delivery or performance by the Company of this Agreement or the consummation of the transactions contemplated hereby. 

(c)    Neither the execution, delivery or performance of this Agreement by the Company nor the consummation by the Company
of the transactions contemplated hereby, will (i) violate any Law applicable to the Company or any of its Subsidiaries or any of their respective properties, rights or assets or (ii) violate, conflict with, require a payment under, result
in a breach of any provision of or the loss of any benefit under any of the terms, conditions or provisions of any Contract to which the Company or any of its Subsidiaries is a party, or by which they or any of their respective properties, rights,
assets or business activities may be bound or affected. 
 9.    Representations and Warranties of Parent, Merger Sub
and Guarantor. 
 (a)    Each of Parent, Merger Sub and Guarantor has full corporate power and authority to execute
and deliver this Agreement and to consummate the transactions contemplated hereby. The execution and delivery of this Agreement and the consummation by Parent, Merger Sub and Guarantor of the transactions contemplated hereby have been duly and
validly approved by all necessary corporate action of Parent, Merger Sub or Guarantor, as applicable, and no other corporate or stockholder proceedings, on the part of Parent, Merger Sub and Guarantor are necessary to approve this Agreement or to
consummate the transactions contemplated hereby. This Agreement has been duly and validly executed and delivered by Parent, Merger Sub and Guarantor and (assuming due authorization, execution and delivery by the Company) constitutes a valid and
binding obligation of Parent, Merger Sub and Guarantor, enforceable against Parent, Merger Sub and Guarantor in accordance with its terms, except as enforcement may be limited by general principles of equity whether applied in a court of Law or a
court of equity and by bankruptcy, insolvency and similar Laws affecting creditors’ rights and remedies generally. 

(b)    No consents, authorizations or approvals of, or filings or registrations with, any Governmental Entities are
required to be obtained or made by or on behalf of Parent, Merger Sub, Guarantor or any of their Subsidiaries in connection with the execution, delivery or performance by Parent, Merger Sub and Guarantor of this Agreement or the consummation of the
transactions contemplated hereby. 

  
 4 

 (c)    Neither the execution, delivery or performance of this Agreement by
Parent, Merger Sub and Guarantor nor the consummation by Parent, Merger Sub and Guarantor of the transactions contemplated hereby, will (i) violate any Law applicable to Parent, Merger Sub or Guarantor, any of their respective Subsidiaries or
any of their respective properties, rights or assets or (ii) violate, conflict with, require a payment under, result in a breach of any provision of or the loss of any benefit under any of the terms, conditions or provisions of any Contract to
which Parent, Merger Sub or Guarantor or any of their respective Subsidiaries is a party, or by which they or any of their respective properties, rights, assets or business activities may be bound or affected. 

10.    Entire Agreement; No Third-Party Beneficiaries. This Agreement and the Confidentiality Agreements constitute
the entire agreement of the parties hereto with respect to the subject matter hereof, and supersede all other prior agreements and understandings, both written and oral, between the parties, or any of them, with respect to the subject matter hereof
and thereof. Each party hereto acknowledges and agrees that each of the Company Related Parties and Parent Related Parties are express third party beneficiaries of the releases and covenants not to sue contained in Section 5 of this Agreement
and are entitled to enforce rights under such sections to the same extent that such persons could enforce such rights if they were a party to this Agreement. Except as provided in the preceding sentence, there are no third party beneficiaries to
this Agreement, and this Agreement is not otherwise intended to and shall not otherwise confer upon any person other than the parties hereto any rights or remedies hereunder. 

11.    Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State
of Delaware (without giving effect to choice of law principles thereof). 
 12.    Jurisdiction; Service of Process;
Waiver of Jury Trial 
 (a)    Each of the parties irrevocably submits to the exclusive jurisdiction of the Delaware
Court of Chancery and any state appellate court therefrom within the State of Delaware (unless the Delaware Court of Chancery shall decline to accept jurisdiction over a particular matter, in which case, of any Delaware state or federal court within
the State of Delaware) for the purpose of any Claim directly or indirectly based upon, arising out of or relating to this Agreement, any of the transactions contemplated by this Agreement or the actions of Guarantor, Parent, Merger Sub or the
Company in the negotiation, administration, performance and enforcement hereof and thereof. Each of the parties (i) consents to submit itself to the personal jurisdiction of the Delaware Court of Chancery and any state appellate court therefrom
within the State of Delaware (unless the Delaware Court of Chancery shall decline to accept jurisdiction over a particular matter, in which case, of any Delaware state or federal court within the State of Delaware) with respect to any matter
relating to or arising under this Agreement, (ii) agrees that it will not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from any such court and (iii) agrees that it will not bring any such
proceeding in any court other than the Delaware state or federal courts within the State of Delaware, as described above. Each of the parties irrevocably consents to the service of process 

  
 5 

 
out of any of the aforementioned courts in any such action, suit or proceeding by the mailing of copies thereof by registered mail, postage prepaid, to such party at its address specified in the
Merger Agreement, such service of process to be effective upon acknowledgment of receipt of such registered mail. 

(b)    EACH OF PARENT, MERGER SUB, THE COMPANY AND GUARANTOR HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY
ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) DIRECTLY OR INDIRECTLY BASED UPON, ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OF THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT OR THE ACTIONS OF GUARANTOR,
PARENT, MERGER SUB OR THE COMPANY IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE AND ENFORCEMENT HEREOF AND THEREOF. 

13.    Specific Performance. The parties agree that if any of the provisions of this Agreement were not performed
by the parties in accordance with their specific terms or were otherwise breached thereby, irreparable damage would occur, no adequate remedy at law would exist and damages would be difficult to determine, and that each party will be entitled to
specific performance to prevent breaches of the provisions of this Agreement and to enforce specifically the terms and provisions hereof, in addition to any other remedy to which it may be entitled at law or in equity. Each of the parties agree that
it will not oppose the granting of an injunction, specific performance and other equitable relief on the basis that any other party has an adequate remedy at law or that any award of specific performance is not an appropriate remedy for any reason
at law or in equity. 
 14.    Counterparts; Effectiveness. This Agreement may be executed in two or more
consecutive counterparts (including by facsimile), each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument, and shall become effective when one or more counterparts have been
signed by each of the parties and delivered (by telecopy or otherwise) to the other parties. 
 [signature page follows] 

  
 6 

 IN WITNESS WHEREOF, the undersigned have caused this Agreement to be duly executed and delivered
as of the date first above written. 
  

			
	ALIPAY (UK) LIMITED
		
	By:	 	 /s/ Leiming Chen

	Name:	 	Leiming Chen
	Title:	 	Director
	
	MATRIX ACQUISITION CORP.
		
	By:	 	 /s/ Leiming Chen

	Name:	 	Leiming Chen
	Title:	 	Director
	
	ALIPAY (HONG KONG) HOLDING LIMITED
		
	By:	 	 /s/ Leiming Chen

	Name:	 	Leiming Chen
	Title:	 	Director
	
	MONEYGRAM INTERNATIONAL, INC.
		
	By:	 	 /s/ F. Aaron Henry

	Name:	 	F. Aaron Henry
	Title:	 	Executive Vice President, General Counsel and Corporate Secretary

 Signature Page to the Termination Agreement 

 Exhibit A 

Strategic Business Cooperation 
 Examples of
cooperation efforts described in Section 4 of this Agreement could include: 
  

	 	•	 	Assessment and exploration of opportunities to combine the parties’ capabilities and customer relationships on both sides of remittance transactions, in a manner that would substantially increase their remittance
volumes and market shares between the major “send” markets, such as the United States, and the major “receive” markets, such as China, India and the Philippines.

 

	 	•	 	Active cooperation by Ant Financial with MoneyGram to evaluate opportunities to leverage its strong, digitally-enabled Alipay customer base in China with over 520 million users and the capabilities of its
partners, such as Paytm in India and GCash in the Philippines to increase MoneyGram’s remittance volume to these large receive end customer bases. Access to these digitally enabled customer wallets on the receive side could
facilitate a reduction in distribution costs for MoneyGram and an improvement in transaction processing time. 

  

	 	•	 	Ant Financial’s (a) encouragement to its partners (including, but not limited to, Paytm, GCash and KakaoPay) to connect with the MoneyGram money transfer network, and (b) exploration
and seeking to develop opportunities to partner with the Company to promote sends to and receives into Alipay wallets from the Company’s locations and online services. In connection with the foregoing and subject to local
regulatory requirements, Ant Financial may work with the MoneyGram to assess the opportunities for direct integration where feasible. 

 Exhibit B 

Press Release 

			
	

	 	

 MONEYGRAM AND ANT FINANCIAL ANNOUNCE 

TERMINATION OF AMENDED MERGER AGREEMENT 

Companies Commit to New Strategic Cooperation to Enable Consumers to Enjoy Better Remittance Services Worldwide 

DALLAS and HANGZHOU, China, January 2, 2018 — MoneyGram (NASDAQ: MGI) and Ant Financial Services Group today announced that they have
mutually agreed to terminate their Amended Merger Agreement following the inability of the companies to obtain the required approval for the transaction from the Committee on Foreign Investment in the United States (“CFIUS”), despite
extensive efforts to address the Committee’s concerns. MoneyGram and Ant Financial also announced that they plan to work together on new strategic initiatives in the remittance and digital payments markets that will help each company achieve
its objective of enabling consumers around the world to enjoy better money transfer services. 
 Alex Holmes, Chief Executive Officer of MoneyGram, said,
“The geopolitical environment has changed considerably since we first announced the proposed transaction with Ant Financial nearly a year ago. Despite our best efforts to work cooperatively with the U.S. government, it has now become clear that
CFIUS will not approve this merger. We are disappointed in the termination of this compelling transaction, which would have created significant value for our stakeholders. The MoneyGram Board and management team greatly appreciate the significant
time and energy that so many of our colleagues have devoted to trying to complete the transaction.” 
 Under the new strategic business cooperation,
MoneyGram and Ant Financial will explore and develop initiatives to bring together their capabilities in remittance and digital payments to provide their respective customers with user-friendly, rapid-response and low-cost money transfer services
into China, India and the Philippines, among other Asian markets, as well as in the U.S. and other key regions around the world. 
 Mr. Holmes
continued, “While we are disappointed by this outcome, we are confident in the future of MoneyGram and are excited about the benefits of our future cooperation with Ant Financial. By increasing access to digitally enabled customer wallets on
the receiving side, we will be able to reduce distribution costs and improve transaction processing time. Together with Ant Financial, we hope to be the preferred money transfer option globally, and we look forward to bringing the considerable
benefits of this collaboration to all of our stakeholders, including stockholders, customers, agents and employees.” 
 Doug Feagin, President of Ant
Financial International, said, “We remain excited and encouraged about Ant Financial’s future prospects around the world as we continue to establish new partnerships and pursue opportunities that bring innovative services to our ecosystem.
Establishing this new strategic cooperation with MoneyGram will add a partner with global remittance capabilities to our ecosystem and, while Ant Financial won’t have a direct ownership relationship with MoneyGram, we look forward to working
closely with the MoneyGram team to make our platform even more accessible – particularly to unbanked and underserved communities globally – and create even better experiences for our customers.” 

As previously announced on April 16, 2017, MoneyGram and Ant Financial entered into an amended merger agreement under which Ant Financial would acquire
all of the outstanding shares of MoneyGram for $18.00 per share in cash. In accordance with the Merger Agreement, simultaneous with termination of the agreement, Ant Financial paid MoneyGram a $30 million termination fee. 

 MoneyGram will provide additional financial and operational information during its fourth quarter 2017 earnings
call. 
 About MoneyGram 
 MoneyGram is a global
provider of innovative money transfer services and is recognized worldwide as a financial connection to friends and family. Whether online, or through a mobile device, at a kiosk or in a local store, we connect consumers any way that is convenient
for them. We also provide bill payment services, issue money orders and process official checks in select markets. More information about MoneyGram International, Inc. is available at moneygram.com. 

About Ant Financial 
 Ant Financial Services Group is
focused on serving small and micro enterprises, as well as individuals. Ant Financial is dedicated to bringing the world more equal opportunities through building a technology-driven open ecosystem and working with other financial institutions to
support the future financial needs of society. Businesses operated by Ant Financial Services Group include Alipay, Ant Fortune, Zhima Credit and MYbank. 

For more information on Ant Financial, please visit our website at www.antfin.com; or follow us on Twitter @AntFinancial. 

Forward-Looking Statements 
 This press release contains
forward-looking statements, which may include projections of future results of operations, financial condition or business prospects. Actual results of operations, financial condition or business prospects may differ from those expressed or implied
in these forward-looking statements for a variety of reasons, including but not limited to the ability of MoneyGram and Ant Financial to successfully bring together and market to customers capabilities in remittance and digital payments or realize
material benefits from their strategic cooperation efforts, the possibility of adverse impacts resulting from the termination of the merger agreement with Alipay (UK) Limited, market demand, global economic conditions, adverse industry conditions,
legal proceedings, the ability to effectively identify and enter into new markets, governmental regulation, the ability to retain management and other personnel, and other economic, business or competitive factors. Additional information concerning
factors that could cause results to differ materially from those in the forward-looking statements is contained from time to time in MoneyGram’s SEC filings. The forward-looking statements in this release reflect the current belief of MoneyGram
as of the date of this release. MoneyGram undertakes no obligation to update these forward-looking statements for events or circumstances that occur subsequent to such date. 

MoneyGram Contact 
 Investor Relations: 

Suzanne Rosenberg 
 214-979-1400 

ir@moneygram.com 
 Media Relations: 

Michelle Buckalew 
 +1 214-979-1418 

media@moneygram.com 

 Michael Freitag / Joseph Sala / Viveca Tress 

Joele Frank, Wilkinson Brimmer Katcher 
 Phone: +1 212-355-4449

 Ant Financial Contact 
 USA: Sard
Verbinnen & Co 
 Paul Kranhold / Reze Wong / Andrew Duberstein 

+1 415 618 8750 / +1 212 687 8080 
 pkranhold@sardverb.com /
rwong@sardverb.com / aduberstein@sardverb.com 
 China: Sard Verbinnen & Co 

Rick Carew / Yin Ai 
 +852 3899 6630 

rcarew@sardverb.com / yai@sardverb.com

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