Document:

EX-4.3

 Exhibit 4.3 

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE
THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITORY OR ITS NOMINEE EXCEPT IN THE
LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY
(55 WATER STREET, NEW YORK, NEW YORK) TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND SUCH CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO., OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY, ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

ATMOS ENERGY CORPORATION 

4.300% Senior Notes due 2048 
  

			
	No. 2	  	CUSIP NO. 049560 AP0
		  	ISIN NO. US049560AP00

 Atmos Energy Corporation, a Texas and Virginia corporation (herein called the
“Company,” which term includes any successor entity under the Indenture, hereinafter defined), for value received, hereby promises to pay to Cede & Co. or registered assigns the principal sum of ONE HUNDRED MILLION DOLLARS
($100,000,000) on October 1, 2048 (the “Maturity Date”), at the office or agency of the Company referred to below, and to pay interest thereon from October 4, 2018, or from the most recent Interest Payment Date to which interest
has been paid or duly provided for, semiannually in arrears on April 1 and October 1 in each year (each, an “Interest Payment Date”), beginning April 1, 2019 at 4.300% per annum until the principal hereof is paid or duly
provided for. 
 Any payment of principal or interest required to be made on a day that is not a Business Day need not be made on such day,
but may be made on the next succeeding Business Day with the same force and effect as if made on such day and no interest shall accrue as a result of such delayed payment. Interest payable on each Interest Payment Date will include interest accrued
from and including October 4, 2018, or from and including the most recent Interest Payment Date to which interest has been paid or duly provided for, as the case may be, to but excluding such Interest Payment Date. Interest will be computed on
the basis of a 360-day year of twelve 30-day months. 
 The
interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the person (the “Holder”) in whose name this Security (or one or more Predecessor Securities) is
registered at the close of business on the March 15 or September 15 (whether or not a Business Day) next preceding such Interest Payment Date (a “Regular Record Date”). Any such interest not so punctually paid or duly provided
for (“Defaulted Interest”) will forthwith cease to be payable to the Holder on such Regular Record Date and either may be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of
business on a special record date (the “Special Record Date”) for the payment of such Defaulted Interest to be fixed by the Trustee (referred to herein), notice whereof shall be given to the Holder of this Security not less than ten days
prior to such Special Record Date, or may be paid at any time in any other lawful manner, all as more fully provided in the Indenture. 

For purposes of this Security, “Business Day” means any day that, in the city of the principal Corporate Trust Office of the Trustee
and in the City of New York, is neither a Saturday, Sunday, or legal holiday nor a day on which banking institutions are authorized or required by law or regulation to close. 

Payment of the principal of (and premium, if any) and interest on this Security will be made at the office or agency of the Company maintained
for that purpose in the Borough of Manhattan, the City of New York, or at such other office or agency of the Company as may be maintained for such purpose, in such coin or currency of the United States of America as at the time of payment is legal
tender for payment of public and private debts. So long as this Security remains in book-entry form, all payments of principal and interest will be made by the Company in immediately available funds. 

 Unless the certificate of authentication hereon has been duly executed by the Trustee by
manual signature, this Security shall not be entitled to any benefit under the Indenture, or be valid or obligatory for any purpose. 
 This
Security is one of a duly authorized issue of securities of the Company, designated as the 4.300% Senior Notes due 2048 (the “Securities”), issued under an Indenture dated as of March 26, 2009, as it may be supplemented from time to
time (referred to herein as the “Indenture”), between the Company and U.S. Bank National Association, as trustee (referred to herein as the “Trustee,” which term includes any successor trustee under the Indenture with respect to
the series of which this Security is a part). A reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties, obligations and immunities thereunder of the Company, the Trustee and the Holders of
the Securities, and of the terms upon which the Securities are, and are to be, authenticated and delivered, except as otherwise provided herein. 

The Securities are initially limited to $600,000,000 aggregate principal amount. The Company may, at any time, without the consent of the
Holders of the Securities, issue additional securities having the same ranking, interest rate, maturity and other terms (except for the issue date, public offering price and, if applicable, the first interest payment date) as the Securities. Any
such additional securities shall be consolidated and form the same series of the Securities having the same terms as to status, redemption and otherwise as the Securities under the Indenture. 

Events of Default. If an Event of Default shall occur and be continuing, the principal of all the Securities may be declared due and
payable in the manner and with the effect provided in the Indenture. 
 Optional Redemption. The Securities will be redeemable prior
to maturity at the Company’s option, at any time in whole or from time to time in part. Prior to April 1, 2048, the Redemption Price will be equal to the greater of: 

(a)    100% of the principal amount of the Securities to be redeemed, and 

(b)    as determined by the Quotation Agent, the sum of the present values of the Remaining Scheduled Payments of principal
and interest on the Securities to be redeemed that would be due if the Securities matured on the Par Call Date, discounted to the Redemption Date on a semi-annual basis assuming a 360-day year consisting of
twelve 30-day months at the Adjusted Treasury Rate plus 20 basis points; 
 plus, in each case, accrued and unpaid
interest on the principal amount of Securities being redeemed to the Redemption Date. 
 At any time on or after April 1, 2048, the Redemption Price
will be equal to 100% of the principal amount of the Securities to be redeemed, plus accrued and unpaid interest thereon to the Redemption Date. 

“Adjusted Treasury Rate” means, for any Redemption Date, the rate per annum equal to the semi-annual equivalent yield to maturity of
the Comparable Treasury Issue, 

 
assuming a price of the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for that Redemption Date. 

“Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent as having a maturity
comparable to the remaining term of the Securities to be redeemed, assuming the Securities matured on the Par Call Date, that would be used, at the time of a selection and in accordance with customary financial practice, in pricing new issues of
corporate debt securities of comparable maturity to the remaining term of the Securities to be redeemed. 
 “Comparable Treasury
Price” means, for any Redemption Date, the average of the Reference Treasury Dealer Quotations for that Redemption Date. 
 “Par
Call Date” means April 1, 2048, which is the date that is six months prior to the maturity date of the Securities. 

“Quotation Agent” means any Reference Treasury Dealer appointed by the Company to act as a quotation agent. 

“Reference Treasury Dealer” means each of J.P. Morgan Securities LLC, Mizuho Securities USA LLC, and TD Securities (USA) LLC, and
any Primary Treasury Dealer (as defined below) selected by MUFG Securities Americas Inc. or any of such parties’ successors; provided, however, that if any of the foregoing shall cease to be a primary U.S. Government securities dealer (each, a
“Primary Treasury Dealer”), the Company will substitute therefor another nationally recognized investment banking firm that is a Primary Treasury Dealer. 

“Reference Treasury Dealer Quotation” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as
determined by the Trustee, of the bid and asked prices for the Comparable Treasury Issue (expressed, in each case, as a percentage of its principal amount) quoted in writing to the Trustee at 5:00 p.m., Eastern time by such Reference Treasury Dealer
on the third Business Day preceding such Redemption Date. 
 “Remaining Scheduled Payments” means, with respect to each Security
to be redeemed, the remaining scheduled payments of the principal and interest on such Security that would be due after the related Redemption Date but for such redemption; provided, however, that if such Redemption Date is not an Interest Payment
Date, the amount of the next succeeding scheduled interest payment on such Security will be reduced by the amount of interest accrued on such Security to such Redemption Date. 

In the event that less than all of the Securities are to be redeemed at any time, selection of such Securities for redemption will be made by
The Depository Trust Company (“DTC”) during any period the Securities are issued in the form of a global security registered in the name of DTC or a nominee thereof; provided that during any period the Securities are issued in
certificated form, the selection of such Securities for redemption will be made by the Trustee by lot or by such other method as the Trustee in its sole discretion shall deem fair and appropriate (or, in the case of Securities issued in global form,
by such method as the depositary may require) and which may provide for the selection for redemption of portions of the principal of the Securities. Notice of any redemption will be mailed by first-class mail at least 30 days but

 
not more than 60 days before the Redemption Date, to each Holder of Securities to be redeemed, at its address as shown in the Security Register. If any Securities are to be redeemed in part only,
the notice of redemption will state the portion of the principal amount of the Securities to be redeemed. A new Security in a principal amount equal to the unredeemed portion thereof will be issued in the name of the Holder thereof upon surrender
for cancellation of the original Security. A partial redemption will not reduce the portion of any Security not being redeemed to a principal amount of less than $2,000. On and after the Redemption Date, interest will cease to accrue on Securities
or portions thereof called for redemption unless the Company defaults in the payment of the Redemption Price. 
 Sinking Fund. This
Security does not have the benefit of any sinking fund obligations. 
 Modification and Waivers; Obligations of the Company Absolute.
The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities. Certain limited amendments may be effected
under the Indenture at any time by the Company and the Trustee without the consent of any Holders of the Securities. Certain other amendments affecting the Securities may only be effected under the Indenture with the consent of the Holders of not
less than a majority in aggregate principal amount of the Securities at the time Outstanding. The Indenture also contains provisions permitting the Holders of not less than a majority in principal amount of the Securities at the time Outstanding, on
behalf of the Holders of all Outstanding Securities, to waive compliance by the Company with certain provisions of the Indenture affecting the Securities. Furthermore, provisions in the Indenture permit the Holders of not less than a majority in
principal amount of the Outstanding Securities to waive on behalf of all of the Holders of all Outstanding Securities certain past defaults under the Indenture in respect of the Securities and their consequences. Any such consent or waiver by or on
behalf of the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof whether
or not notation of such consent or waiver is made upon this Security. 
 No reference herein to the Indenture and no provision of this
Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of (and premium, if any) and interest on this Security at the times, place and rate, and in the coin or
currency, herein prescribed. 
 Defeasance and Covenant Defeasance. The Indenture contains provisions for defeasance at any time of
(a) the entire indebtedness of the Company represented by this Security and (b) certain restrictive covenants and the related Defaults and Events of Default, upon compliance by the Company with certain conditions set forth therein, which
provisions apply to this Security. 
 Authorized Denominations. The Securities are issuable only in registered form, without coupons,
in minimum denominations of $2,000 and any integral multiple of $1,000 in excess thereof. 

 Registration of Transfer or Exchange. As provided in the Indenture and subject to
certain limitations therein set forth, the transfer of this Security is registrable on the Security Register of the Company, upon surrender of this Security for registration of transfer at the office or agency of the Company, duly endorsed by, or
accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities, of authorized
denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. At the date of the original issuance of this Security such office or agency of the Company is maintained by U.S. Bank National
Association, 1349 West Peachtree Street, Suite 1050, Atlanta, Georgia 30309. 
 As provided in the Indenture and subject to certain
limitations therein set forth, the Securities are exchangeable for a like aggregate principal amount of Securities of a different authorized denomination, as requested by the Holder surrendering the same. 

No service charge shall be made for any registration of transfer or exchange or redemption of Securities, but the Company may require payment
of a sum sufficient to pay all documentary, stamp or similar issue or transfer taxes or other governmental charges payable in connection with any registration of transfer or exchange. 

Prior to the time of due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or
the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any agent shall be affected by notice to the contrary.

 Defined Terms. All capitalized terms used in this Security which are defined in the Indenture shall have the meanings assigned to
them in the Indenture. 
 Governing Laws. This Security and the Indenture shall be governed by and construed in accordance with the
laws of the State of New York, without regard to conflicts of laws principles that would apply any other law. 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

					
	ATMOS ENERGY CORPORATION
		
	By:	 	/s/ Christopher T. Forsythe
		 	Name:	 	Christopher T. Forsythe
		 	Title:	 	Senior Vice President and Chief Financial Officer

  

					
	Attest:
		
	By:	 	/s/ Karen E. Hartsfield
		 	Name:	 	Karen E. Hartsfield
		 	Title:	 	Senior Vice President, General Counsel and Corporate Secretary

 2048 Note No. 2 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated therein referred to in the within-mentioned
Indenture. 
  

							
	Dated: October 4, 2018	 		 	 U.S. Bank National Association,

as Trustee

				
		 		 	By:	 	/s/ Jack Ellerin
		 		 		 	Authorized Officer
		 		 		 	

 2048 Note No. 2 

 ASSIGNMENT FORM 

To assign this Security, fill in the form below: 
 (I) or (we)
assign and transfer this Security to 
  
  

(Insert assignee’s social security or tax I.D. no.) 
  

 
  

 
  

 
  

 
 (Print or type assignee’s name,
address and zip code) 
 and irrevocably appoint
                                         
                                         
                                         
                                         
agent to transfer this Security on the books of the Company. The agent may substitute another to act for him. 
  

									
	Date:	 	                                	 		 	Signature:	 	
                     
                                         
                                         
      

		 		 		 		 	 (sign exactly as name appears on the other side of this Security)

  

					
	Signature guaranteed by:EX-10.19

 Exhibit 10.19 

EXECUTION COPY 

AMENDMENT NO. 1 TO 

SUBSCRIPTION AND COMMITMENT AGREEMENT 

This Amendment No. 1 (this “Amendment”), dated as of July 13, 2018, (the “Effective Date”), to the
Subscription and Commitment Agreement, dated as of December 19, 2017, by and among Oi S.A. – In Judicial Reorganization (the “Company”) and the other parties thereto (as amended, supplemented or otherwise modified from
time to time pursuant to the terms thereof, the “Original Agreement”), is entered into by and among the Company and the other parties hereto pursuant to and in accordance with Section 13 of the Original Agreement. Capitalized
terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Original Agreement. 
 WHEREAS, the
original investor parties to the Original Agreement (the “Original Investors”) and the Debtors desire for each of the undersigned new investors (each, a “New Investor” and together, the “New
Investors”) to become Investors; 
 WHEREAS, the Debtors executing this Amendment are all of the Debtors; 

WHEREAS, the Investors executing this Amendment include all of the Original Investors and together with the New Investors are all of the
Investors; 
 WHEREAS, by entering onto this Amendment, the New Investors desire to and agree to become Investors; 

WHEREAS, each New Investor agrees that, as a consequence of becoming New Investors, they will become bound by the terms and conditions of the
Original Agreement (and/or any transactions contemplated by the Original Agreement), as such Original Agreement is amended by this Amendment (including without limitation any transactions contemplated hereby); 

WHEREAS, the parties to the Original Agreement by email agreements (the “Prior Amendments”), amended the date set forth in
Section 12(c)(ii) of the Original Agreement from February 28, 2018 to May 31, 2018; 
 WHEREAS, the Company and the other
parties hereto desire to enter this Amendment and amend certain terms of the Original Agreement in the manner set forth herein; and 

WHEREAS, the Debtors and Original Investors (in accordance with and subject to Section 13 of the Original Agreement) and the New
Investors have duly authorized and approved this Amendment. 
 NOW, THEREFORE, in consideration of the premises and of the mutual covenants
and obligations hereinafter set forth, and for other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 

 

	1.	 Amendment. 

(a)    Subject to Section 1(g) of this Amendment, each reference in the Original Agreement to “Investor”
shall be read as and shall be deemed to mean and reference (i) the Original Investors and (ii) the New Investors. For the avoidance of doubt, each signatory of the Original Agreement shall be considered an Investor, including funds and
accounts that appear or are referenced in the Investor’s signature pages but are not specifically referenced on Schedule 1 of this Amendment. 

(b)    The parties hereto acknowledge and agree that Schedule 1 of the Original Agreement is hereby amended and restated in
its entirety to read as set forth on Schedule 1 of this Amendment. 
 (c)    Subject to Section 1(g) of this
Amendment, each New Investor hereby agrees as an Investor to be bound by each of the covenants of an Investor set forth in the Original Agreement. 
  

 (d)     Each New Investor hereby represents, warrants and covenants,
severally and not jointly with respect to itself, to each other party hereto, as of the Effective Date and as of the Closing Date, as follows: 
  

	 	(i)	 it is validly existing and in good standing under the laws of the state or country of its organization, and
each of this Amendment and the SRC Agreement is the legally valid and binding obligation of such party, enforceable against it in accordance with its terms (subject, as to the enforcement of remedies, to applicable bankruptcy, reorganization,
insolvency, fraudulent transfer, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general principles of equity); 

 

	 	(ii)	 it has all requisite corporate, partnership, limited liability company or similar authority to execute this
Amendment and to be bound by the terms of the SRC Agreement and carry out the transactions contemplated herein and in the SRC Agreement and in the Agreed Plan and perform its obligations herein and in the SRC Agreement and in the Agreed Plan, and
the execution and delivery of this Amendment and the performance of such party’s obligations hereunder and under the SRC Agreement and under the Agreed Plan have been duly authorized by all necessary corporate, partnership, limited liability
company or other similar action on its part; 

  

	 	(iii)	 except as expressly provided in this Amendment, the SRC Agreement or the Agreed Plan, no consent or approval is
required by any other person or entity to carry out the transactions contemplated by, and perform their respective obligations under, this Amendment, the Agreed Plan and the SRC Agreement, except (1) potential approvals by ANATEL and CADE,
(2) if and to the extent required under applicable securities laws, the declaration that the Rights Registration Statement is effective by the SEC, (3) such additional steps as may be necessary to qualify the Offered Shares for public
offering by the Company under the state securities or blue sky laws of any state in the United States in which the Offered Shares are offered, and (4) such additional steps as may be necessary to qualify the Offered Shares for public offering
by the Company under the securities laws of any jurisdiction other than Brazil and the United States in which the Offered Shares are offered; and 

  

	 	(iv)	 there are no side letters, agreements or arrangements among any Debtors, any Investors or other holder of Bonds
(i) relating to the sale or purchase of any securities of a Debtor, the incurrence of debt of a Debtor or any backstop commitment agreement other than this Amendment, the SRC Agreement and the Agreed Plan; or (ii) that could adversely
affect any Investor’s rights under this Amendment, the SRC Agreement or the Agreed Plan. 

 (e)
    Each New Investor hereby represents, warrants and covenants, severally and not jointly and solely with respect to itself, to each other party hereto that the following statements are true, correct and complete as of the
Effective Date and as of the Closing Date: 
  

	 	(i)	 it has uncalled capital commitments or otherwise has available funds in excess of the sum of its Commitment
hereunder plus the aggregate amount of all other commitments and obligations it currently has standing; and 

  

	 	(ii)	 it (A) has knowledge and experience in financial and business matters of this type that it is capable of
evaluating the merits and risks of entering into this Amendment and being bound by terms of the SRC Agreement (as amended, restated or otherwise modified by this Amendment) and of making an informed investment decision, and has conducted an
independent review and analysis of the business and affairs of the Debtors that it considers sufficient and reasonable for purposes of entering into this Amendment and being bound by terms of the SRC Agreement (as amended, restated or otherwise
modified by this Amendment), and (B) either is a “qualified institutional buyer” (as defined in Rule 144A promulgated under the Securities Act) or is not a U.S. person (as defined in Regulation S promulgated under the Securities Act).

 (f)     Each reference to the “SRC Agreement” in Section 1(d)
and Section 1(e) of this Amendment shall be deemed to refer to the Original Agreement as amended, restated or otherwise modified by this Amendment. 

(g)     Notwithstanding anything to the contrary in this Amendment or the Original Agreement, the terms of Section 11
of the Original Agreement shall be deemed to have no force or effect with respect to the New Investors, and all rights and obligations, if any, of the New Investors in respect of Section 11 of the Original Agreement are hereby waived. No Debtor
shall have any liabilities or obligations to the New Investors under, pursuant to or in respect of Section 11 of the Original Agreement. For the avoidance of doubt, the New Investors are not entitled to all or any portion of (or any
reimbursement for) Past Payments, Interim Statement Payments, Success Fee Payments or any other payments contemplated by Section 11 of the Original Agreement. 
  

 (h)     Each New Investor hereby agrees, solely on behalf of itself and its
respective Affiliates, to withdraw any pending motion, appeal or other pleading challenging or contesting in any way the Original Agreement (and/or the transactions contemplated thereby) (each, a “Pending Claim”), and agrees,
consistent with Section 7(b)(iv) of the Original Agreement, to take all actions necessary in furtherance of the consummation of the Agreed Plan and the Rights Offering in accordance with, the Original Agreement and/or this Amendment. Consistent
with the foregoing, simultaneously with the execution of this Amendment, (i) in the case of Marble Ridge Master Fund LP (“Marble Ridge”), Marble Ridge has signed and delivered to the Original Investors a withdrawal motion of
appeal no 0028111-62.2018.8.19.0000, and (ii) in the case of Burlington Loan Management Designated Activity Company (“Burlington”), Burlington has signed and delivered to the
Original Investors a withdrawal motion of no 0022265-64.2018.8.19.0000 solely to the extent that such appeal relates to Burlington. Each of Marble Ridge and Burlington, individually and not jointly, is
obligated to file its respective motion with the relevant court within two (2) Business Days after execution of this Amendment by all parties hereto. Each New Investor, individually and not jointly, hereby (x) waives and releases all
rights, obligations, claims, demands and causes of action of any kind whatsoever that such New Investor ever had, now has or may hereafter have under, pursuant to, based upon, arising out of or related to the Pending Claims, whether arising before,
on or after the date hereof and (y) agrees not to bring any claims, demands or causes of action of any kind whatsoever with respect to the rights, obligations, claims, demands and causes of action so waived or released; provided, that
the foregoing waivers, releases and agreements set forth in the foregoing clauses (x) and (y) shall not impact or have any effect upon the rights and obligations of the New Investors pursuant to and in accordance with the terms of the Original
Agreement and/or this Amendment. Each New Investor will sign such other documents and take such other actions as may be reasonably necessary or desirable to give full effect to, and/or further effect and evidence, the withdrawals, waivers and
releases contemplated by this Section 1(h). If the Pending Claims, as pursued by any entity that is not an Affiliate of the New Investors, result in amendments, waivers or modifications to the Original Agreement and/or this
Amendment, then any such further amendments, waivers or modifications shall be applied in the same manner to all Investors notwithstanding the waivers, releases, agreements and withdrawals provided for in this Section 1(h).
The Debtors and the Original Investors agree to withdraw any and not bring any claims, demands or causes of action of any kind whatsoever with respect to any Pending Claims of a New Investor and agree to sign such documents and take such action as
may be necessary or desirable to give full effect to, and/or further effect and evidence the foregoing. 
 (i)     Each
of the parties hereto (each, an “Applicable Party”) hereby represents, warrants and covenants, severally and not jointly and solely with respect to itself, to each other party hereto that: (a) such Applicable Party has all
requisite corporate, partnership, limited liability company or similar authority to approve and execute this Amendment and carry out the transactions contemplated herein and perform its obligations hereunder and under the SRC Agreement, and
(b) such Applicable Party’s execution and delivery of this Amendment and the performance of such Applicable Party’s obligations hereunder and under the SRC Agreement have been duly authorized and approved by all necessary corporate,
partnership, limited liability company or other similar action on its part. Each of the Debtors and the Original Investors hereby represents, warrants and covenants, severally and not jointly and solely with respect to itself, to each other party
hereto that there have not been any amendments, modifications or waivers to the Original Agreement other than the Prior Amendments. The Debtors hereby represent, warrant and covenant to each other party hereto that (i) any necessary approvals
from the Reorganization Court with respect to carrying out the transactions contemplated by, and performing their obligations under, the Original Agreement and this Amendment have been obtained, and (ii) with the exception of this Amendment,
the Original Agreement, the Agreed Plan and certain agreements with respect to (a) reimbursement of fees under Section 11 of the Original Agreement, and (b) recognition and enforcement of the Original Agreement, there are no side
letters, agreements or arrangements among any Debtors, any Investors or other holder of Bonds (x) relating to the sale or purchase of any securities of a Debtor, or any backstop commitment agreement; or (y) that relates to the incurrence
of debt of a Debtor or otherwise, in each case, that could adversely affect any of the New Investor’s rights under this Amendment, the Original Agreement or the Agreed Plan. The Debtors agree to file, or cause to be filed, a copy of this
Amendment in the Reorganization Proceedings within two (2) Business Days following the execution of this Amendment by all parties hereto. 

(j)     In addition to the parties listed in Section 16(b) of the Original Agreement, copies of all notices to
Burlington should be sent as follows: 
  

			
		 	FRESHFIELDS BRUCKHAUS DERRINGER US LLP 
		 	601 Lexington Avenue
		 	New York, New York 10022
		 	Attn:     Scott D. Talmadge
		 	             Shannon Leitner
		 	 Email: scott.talmadge@freshfields.com

            shannon.leitner@freshfields.com

  

 (h)     In addition to the parties listed in Section 16(b) of the
Original Agreement, copies of all notices to Marble Ridge should be sent as follows: 
  

			
		 	GRAÇA COUTO, SEQUERRA, LEVITINAS, BICUDO, LEAL & ABBY ADVOGADOS
		 	Praça Santos Dumont no 70, 1o andar, Gávea
		 	Rio de Janeiro, RJ, 22470-060
		 	Attn:     Marcelo Levitinas
		 	             Pedro Corrêa e Castro
		 	 Email: mlevitinas@gcouto.com.br

            pcastro@gcouto.com.br

  

	2.	 Counterparts; Effectiveness. This Amendment may be executed in any number of counterparts, all of
which will be considered one and the same agreement and will become effective when counterparts have been signed by each of the parties hereto and delivered to each other party hereto (including via facsimile or other electronic transmission), it
being understood that each party need not sign the same counterpart. This Amendment shall become effective upon the execution hereof by all parties hereto; provided that, upon execution hereof by all parties hereto, this Amendment shall be
deemed effective as of the Effective Date. 

  

	3.	 Governing Law. This Amendment and any claim, controversy or dispute arising under or related to
this Amendment shall be governed by, and construed in accordance with, the laws of the State of New York, without regard to the “choice of law” principles of that or any other jurisdiction. All actions and claims arising out of or relating
to this Amendment shall be heard and determined in any New York federal or state court sitting in the Borough of Manhattan in the City of New York (such courts, and any of the appropriate appellate courts therefrom the “Chosen
Courts”). Consistent with the preceding sentence, the parties to this Amendment hereby (a) irrevocably submit to the exclusive jurisdiction of the Chosen Courts, provided, that, the Investors shall have the right to bring
any claim against Oi in the courts of Brazil that shall have jurisdiction with respect to Oi (as discussed in Section 14 (Specific Performance) of the Original Agreement), (b) waive any objection to laying venue any such action or
proceeding in the Chosen Courts, and (c) waive any objection that the Chosen Courts are an inconvenient forum or do not have jurisdiction over any party hereto. Each party hereto irrevocably waives any and all right to trial by jury in any
legal proceeding arising out of or relating to this Amendment or the transactions contemplated hereby. Without limiting the foregoing, each party hereto agrees that service of process on such party as provided by the notice provisions in
Section 16 of the Original Agreement shall be deemed effective service of process on such party. 

  

	4.	 No Other Amendments. Except as expressly amended hereby, the Original Agreement is hereby
ratified and reaffirmed in all respects and shall continue in full force and effect (including without limitation all rights and powers of the Original Investors as set out in Section 11 of the Original Agreement). This Amendment and the
Original Agreement shall hereafter be read and construed together as a single document. Each reference in the Original Agreement to “this Agreement,” “this SRC Agreement”, “hereunder,” “hereof,”
“herein” or words of like import referring to the Original Agreement shall be read as and be deemed to mean and reference the Original Agreement as amended, restated or otherwise modified by this Amendment. 

*    *    *    *    * 

 IN WITNESS WHEREOF, the undersigned have duly executed this Amendment No. 1 to the Subscription and
Commitment Agreement as of the Effective Date. 
  

			
	OI S.A.—UNDER JUDICIAL REORGANIZATION 
		
	By:	 	/S/    CARLOS AUGUSTO M.P. DE A. BRANDÃO
	Name:	 	Carlos Augusto M.P. de A. Brandão
	Title:	 	Chief Financial Officer and Investor Relations Officer

 [Signature Page to Amendment No. 1 to Subscription and Commitment Agreement] 

  

			
	TELEMAR NORTE LESTE S.A.—UNDER JUDICIAL REORGANIZATION 
		
	By:	 	/S/    CARLOS AUGUSTO M.P. DE A. BRANDÃO
	Name:	 	Carlos Augusto M.P. de A. Brandão
	Title:	 	Chief Financial Officer and Investor Relations Officer

  

			
	OI MÓVEL S.A.—UNDER JUDICIAL REORGANIZATION 
		
	By:	 	/S/    CARLOS AUGUSTO M.P. DE A. BRANDÃO
	Name:	 	Carlos Augusto M.P. de A. Brandão
	Title:	 	Chief Financial Officer and Investor Relations Officer

  

			
	 COPART 4 PARTICIPAÇÕES S.A.—UNDER JUDICIAL REORGANIZATION 

		
	By:	 	/S/    CARLOS AUGUSTO M.P. DE A. BRANDÃO
	Name:	 	Carlos Augusto M.P. de A. Brandão
	Title:	 	Chief Financial Officer and Investor Relations Officer

 [Signature Page to Amendment No. 1 to Subscription and Commitment Agreement] 

  

			
	COPART 5 PARTICIPAÇÕES S.A.— UNDER JUDICIAL REORGANIZATION 
		
	By:	 	/S/    CARLOS AUGUSTO M.P. DE A. BRANDÃO
	Name:	 	Carlos Augusto M.P. de A. Brandão
	Title:	 	Chief Financial Officer and Investor Relations Officer

  

			
	PORTUGAL TELECOM INTERNATIONAL FINANCE B.V.— UNDER JUDICIAL REORGANIZATION 
		
	By:	 	/S/    CARLOS AUGUSTO M.P. DE A. BRANDÃO
	Name:	 	Carlos Augusto M.P. de A. Brandão
	Title:	 	Chief Financial Officer and Investor Relations Officer

  

			
	OI BRASIL HOLDINGS COÖPERATIEF U.A.—UNDER JUDICIAL REORGANIZATION 
		
	By:	 	/S/    CARLOS AUGUSTO M.P. DE A. BRANDÃO
	Name:	 	Carlos Augusto M.P. de A. Brandão
	Title:	 	Chief Financial Officer and Investor Relations Officer

  

			
	WITNESSES: 
		
	By:	 	 
	Name:	 	
	Title:	 	
		
	By:	 	 
	Name:	 	
	Title:	 	

 [Signature Page to Amendment No. 1 to Subscription and Commitment Agreement] 

 
			
	BENEFIT STREET PARTNERS L.L.C. 9 WEST 57TH STREET NEW YORK, NEW YORK 10019 
		
	By:	 	/S/    ALEXANDER MCMILLAN
	Name:	 	A. Mcmillan
	Title:	 	Authorized Signatory

 [Signature Page to Amendment No. 1 to Subscription and Commitment Agreement] 

 
			
	PF FUND LIMITED PARTNERSHIP 
		
	By:	 	251854 ONTARIO LIMITED, ITS GENERAL PARTNER
		
	By:	 	/S/    A.J. SILBER
	Name:	 	A.J. Silber
	Title:	 	 Vice-President

 [Signature Page to Amendment No. 1 to Subscription and Commitment Agreement] 

 IN WITNESS WHEREOF, the undersigned have duly executed this Amendment No. 1 to the Subscription and
Commitment Agreement as of the Effective Date. 
  

			
	JH CREDIT, L.L.C., as Investor 
		
	By:	 	/S/    SUSANNE V. CLARK
	Name:	 	Susanne V. Clark
	Title:	 	Authorized Signatory

 [Signature Page to Amendment No. 1 to Subscription and Commitment Agreement] 

 
			
	BROOKFIELD CREDIT OPPORTUNITIES MASTER FUND, L.P. 
		
	By:	 	BROOKFIELD ASSET MANAGEMENT PRIVATE INSTITUTIONAL CAPITAL ADVISER (CREDIT), LLC, ITS
INVESTMENT MANAGER
		
	By:	 	/S/    ANTHONY BAVARO
	Name:	 	Anthony Bavaro
	Title:	 	 Vice President

 [Signature Page to Amendment No. 1 to Subscription and Commitment Agreement] 

 
			
	CHARCOAL CRUX 4, L.L.C. 
		
	By:	 	KING STREET CAPITAL MANAGEMENT, L.P., ITS MANAGER
		
	By:	 	KING STREET CAPITAL MANAGEMENT GP, L.L.C., ITS GENERAL MANAGER
		
	By:	 	/S/    BRUCE S. DARRINGER
	Name:	 	Bruce S. Darringer
	Title:	 	 Chief Operating Officer

 [Signature Page to Amendment No. 1 to Subscription and Commitment Agreement] 

 
			
	 REDWOOD CAPITAL MASTER FUND, LTD. 

		
	By:	 	REDWOOD CAPITAL MANAGEMENT, LLC, ITS INVESTMENT MANAGER 
		
	By:	 	/S/    RUBEN KLIKSBERG
	Name:	 	Ruben Kliksberg
	Title:	 	 Co-Chief Executive Officer 

  

			
	 REDWOOD DRAWDOWN MASTER FUND, L.P. 

		
	By:	 	REDWOOD CAPITAL MANAGEMENT, LLC, ITS INVESTMENT MANAGER
		
	By:	 	/S/    RUBEN KLIKSBERG
	Name:	 	Ruben Kliksberg
	Title:	 	 Co-Chief Executive Officer

 [Signature Page to Amendment No. 1 to Subscription and Commitment Agreement] 

 
			
	GOLDENTREE ASSET MANAGEMENT LP, 
	
	 Not on its own but on behalf of some of the funds and accounts for which it serves as investment manager, which are listed
below

		
	By:	 	/S/PETER ALDERMAN    
	Name:	 	Peter Alderman
	Title:	 	 Vice President

 Golden Tree Credit Opportunities Master Fund Ltd. 

Golden Tree Distressed Master Fund 2014 Ltd. 
 Golden Tree
Distressed Fund 2014 LP 
 Golden Tree E Distressed Debt Master Fund II LP 

Golden Tree E Distressed Debt Fund II LP 
 Golden Tree Entrust
Master Fund SPC on behalf of and for the account of Segregated Portfolio I 
 Golden Tree Master Fund, Ltd. 

GN3 SIP Limited 
 GN3 SIP L.P. 

Golden Tree Insurance Fund Series Interests of the SAL! Multi-Series Fund, L.P. 

Golden Tree NJ Distressed Fund 2015 LP 
 GT NM, L.P. 

Louisiana State Employees Retirement System 
 Gold Coast Capital
Subsidiary X Limited 
 Golden Tree High Yield Value Master Unit Trust 

MA Multi-Sector Opportunistic Fund, LP 
 Golden Tree Multi-Sector
Master Fund I CAV- Golden Tree Multi-Sector Master Fund Portfolio A 
 Century Link, Inc. Defined Benefit Master
Trust 
 Golden Tree High Yield Value Fund Offshore (Strategic), Ltd. 

Credit Fund Golden Ltd 
 High Yield And Bank Loan Series Trust

 Rock Bluff High Yield Partnership, L.P. 
 Guadalupe Fund, LP

 Kapitalforeningen Unipension Invest, High Yield Obligationer 

Golden Tree Multi-Sector Fund Offshore ERISA, Ltd. 
 Healthcare
Employees’ Pension Plan- Manitoba 
 [Signature Page to Amendment No. 1 to Subscription and Commitment Agreement] 

 IN WITNESS WHEREOF, the undersigned have duly executed this Amendment No. 1 to the Subscription and
Commitment Agreement as of the Effective Date. 
  

			
	Solus Alternative Management LP, on behalf of funds managed thereby, as Investor 
		
	By:	 	/S/    C.J. LANKTREE
	Name:	 	C.J. Lanktree 
	Title:	 	Partner

 [Signature Page to Amendment No. 1 to Subscription and Commitment Agreement] 

 IN WITNESS WHEREOF, the undersigned have duly executed this Amendment No. 1 to the Subscription and
Commitment Agreement as of the Effective Date. 
  

			
	TRINITY INVESTMENTS DESIGNATE ACTIVITY COMPANY, as Investor 
		
	By:	 	/S/    DAVID ALHADEFF
	Name:	 	David Alhadeff 
	Title:	 	Attorney

 [Signature Page to Amendment No. 1 to Subscription and Commitment Agreement] 

  

			
	SYZYGY CAPITAL MANAGEMENT, LTD.
		
	By:	 	/S/    DAN GROPPER
	Name:	 	Dan Gropper
	Title:	 	Managing Director 

 [Signature Page to Amendment No. 1 to Subscription and Commitment Agreement] 

  

			
	CANYON CAPITAL ADVISORS LLC, on behalf of its participating clients 
		
	By:	 	/S/    JONATHAN M. KAPLAN
	Name:	 	Jonathan M. Kaplan 
	Title:	 	Authorized Signatory

 [Signature Page to Amendment No. 1 to Subscription and Commitment Agreement] 

  

			
	 CITADEL EQUITY FUND LTD
BY CITADEL ADVISORS LLC AS ITS PORTFOLIO MANAGER 

		
	By:	 	/S/    GERALD A. BEESON
	Name:	 	 Gerald A. Beeson

	Title:	 	Authorized Signatory

 [Signature Page to Amendment No. 1 to Subscription and Commitment Agreement] 

			
	YORK CAPITAL MANAGEMENT GLOBAL ADVISORS LLC, ON BEHALF OF FUNDS AND/OR ACCOUNTS MANAGED AND/OR ADVISED BY IT AND/OR ITS AFFILIATES 
		
	By:	 	/S/    JOHN FOSINA
	Name:	 	John Fosina 
	Title:	 	CFO 

 [Signature Page to Amendment No. 1 to Subscription and Commitment Agreement] 

 
			
	BENNETT RESTRUCTURING FUND, L.P. 
		
	By:	 	RESTRUCTURING CAPITAL ASSOCIATES, L.P., ITS GENERAL PARTNER
		
	By:	 	BENNETT CAPITAL CORPORATION, ITS GENERAL PARTNER 
		
	By:	 	/S/    JAMES D. BENNETT
	Name:	 	James D. Bennett 
	Title:	 	 President 

  

			
	BENNETT OFFSHORE RESTRUCTURING FUND, INC. 
		
	By:	 	BENNETT OFFSHORE INVESTMENT CORPORATION, ITS INVESTMENT MANAGER 
		
	By:	 	/S/    JAMES D. BENNETT
	Name:	 	James D. Bennett
	Title:	 	 President

 [Signature Page to Amendment No. 1 to Subscription and Commitment Agreement] 

 
			
	CVI EMCVF Lux Securities Trading S.a.r.l.
By: CarVal Investors, LLC
Its Attorney-in-Fact

		
	By:	 	/S/    JEREMIAH GERHARDSON
	Name:	 	Jeremiah Gerhardson
	Title:	 	Authorized Signer

 [Signature Page to Amendment No. 1 to Subscription and Commitment Agreement] 

 
			
	EOC Lux Securities S.a.r.l.
By: CarVal Investors, LLC
Its Attorney-in-Fact 
		
	By:	 	/S/    JEREMIAH GERHARDSON
	Name:	 	Jeremiah Gerhardson 
	Title:	 	Authorized Signer 

 [Signature Page to Amendment No. 1 to Subscription and Commitment Agreement] 

			
	KNIGHTHEAD MASTER FUND, L.P.
BY: KNIGHTHEAD CAPITAL
MANAGEMENT, LLC, ITS INVESTMENT
MANAGER 
		
	By:	 	/S/    LAURA TORRADO
	Name:	 	Laura Torrado
	Title:	 	Authorized Signatory

 [Signature Page to Amendment No. 1 to Subscription and Commitment Agreement] 

			
	KNIGHTHEAD (NY) FUND, L.P.
BY: KNIGHTHEAD CAPITAL
MANAGEMENT, LLC, ITS INVESTMENT
MANAGER 
		
	By:	 	/S/LAURA TORRADO    
	Name:	 	Laura Torrado
	Title:	 	Authorized Signatory

 [Signature Page to Amendment No. 1 to Subscription and Commitment Agreement] 

			
	KNIGHTHEAD ANNUITY & LIFE
ASSURANCE COMPANY
BY: KNIGHTHEAD CAPITAL
MANAGEMENT, LLC, ITS INVESTMENT
MANAGER 
		
	By:	 	/S/    LAURA TORRADO
	Name:	 	Laura Torrado
	Title:	 	Authorized Signatory

 [Signature Page to Amendment No. 1 to Subscription and Commitment Agreement] 

			
	MARBLE RIDGE MASTER FUND LP 
		
	By:	 	MARBLE RIDGE CAPITAL GP LLC, ITS GENERAL PARTNER 
		
	By:	 	/S/    DAN KAMENSKY
	Name:	 	Dan Kamensky
	Title:	 	Managing Partner 

 [Signature Page to Amendment No. 1 to Subscription and Commitment Agreement] 

			
	BURLINGTON LOAN MANAGEMENT DESIGNATED ACTIVITY COMPANY 
		
	By:	 	/S/    CHRISTIAN CURRIVAN
	Name:	 	Christian Currivan 
	Title:	 	Director

 [Signature Page to Amendment No. 1 to Subscription and Commitment Agreement] 

 Schedule 1 

Commitment Schedule 
 See attached. 

 Schedule 1—Commitment Schedule 

 

									
	
Entity1
	  	Commitment
Percentage	 	 	BRL Commitment	 
	 Benefit Street Partners LLC (not on its own but as investment manager to certain investing
funds)
	  	 	3.63	% 	 	 	BRL 145,008,837.42	 
	 Brookfield Asset Management (not on its own but on behalf of PF Fund Limited Partnership and
Brookfield Credit Opportunities Master Fund L.P.)
	  	 	9.24	% 	 	 	BRL 369,564,168.87	 
	 GoldenTree Asset Management LP (not on its own but on behalf of some of the funds and accounts for
which it serves as Investment Manager listed on its signature page)
	  	 	19.22	% 	 	 	BRL 768,711,412.91	 
	 Charcoal Crux 4, L.L.C.
	  	 	3.77	% 	 	 	BRL 150,905,646.29	 
	 Redwood Capital Management LLC (not on its own but on behalf of the funds listed on its signature
page)
	  	 	1.33	% 	 	 	BRL 53,399,357.45	 
	 Syzygy Capital Management, Ltd.
	  	 	0.83	% 	 	 	BRL 33,333,333.33	 
	 Bennett Restructuring Fund L.P. and Bennett Offshore Restructuring Fund, Inc.
	  	 	1.63	% 	 	 	BRL 65,078,176.92	 
	 Canyon Capital Advisors LLC (on behalf of participating clients)
	  	 	10.38	% 	 	 	BRL 415,333,136.60	 
	 CVI EMCVF Lux Securities Trading S.a.r.l.
	  	 	0.63	% 	 	 	BRL 25,066,988.51	 
	 EOC Lux Securities S.a.r.l.
	  	 	0.56	% 	 	 	BRL 22,236,531.95	 
	 Citadel Equity Fund Limited
	  	 	5.25	% 	 	 	BRL 210,022,461.04	 
	 Knighthead Capital Management, LLC (solely on behalf of certain funds and accounts it manages
and/or advises)
	  	 	3.64	% 	 	 	BRL 145,400,165.33	 
	 York Capital Management Global Advisors LLC (on behalf of funds and/or accounts managed and/or
advised by it and/or its affiliates)
	  	 	18.25	% 	 	 	BRL 730,118,178.41	 
	 Trinity Investments Designated Activity Company
	  	 	2.82	% 	 	 	BRL 112,943,829.71	 
	 JH Credit, L.L.C.
	  	 	2.45	% 	 	 	BRL 97,984,919.76	 
	 Solus Alternative Asset Management LP (on behalf of funds managed thereby)
	  	 	13.33	% 	 	 	BRL 533,252,783.21	 
	 Burlington Loan Management Designated Activity Company
	  	 	2.77	% 	 	 	BRL 110,862,669.69	 
	 Marble Ridge Capital LLC
	  	 	0.27	% 	 	 	BRL 10,777,402.61	 
		  	  
	  
	 	 	  
	  
	 
	 Total
	  	 	100.00	% 	 	 	BRL 4,000,000,000.00	 
		  	  
	  
	 	 	  
	  
	 

  

	1 	 Where applicable, allocations among the funds or accounts referenced or listed herein or on the applicable
signature pages shall be determined at a later date.

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