Document:

EX-10.2

 Exhibit 10.2 

FIRST AMENDMENT TO CREDIT AGREEMENT 

FIRST AMENDMENT TO CREDIT AGREEMENT (the “First Amendment”), dated as of October 21, 2015, among REYNOLDS AMERICAN INC.,
a North Carolina corporation (the “Borrower”), the Subsidiary Guarantors (as defined in the Credit Agreement), the lenders (the “Lenders”) party to the Credit Agreement referred to below and JPMorgan Chase Bank,
N.A., as Administrative Agent (in such capacity, the “Administrative Agent”) under the Credit Agreement. All capitalized terms used herein and not otherwise defined herein shall have the respective meanings provided such terms in
the Credit Agreement. 
 W I T N E S S E T H: 

WHEREAS, the Borrower, the Lenders and the Administrative Agent are parties to a Credit Agreement, dated as of December 18, 2014 (as
amended, amended and restated, supplemented or otherwise modified to, but not including, the First Amendment Effective Date (as defined below), the “Credit Agreement”); 

WHEREAS, pursuant to Section 2.20 of the Credit Agreement, the Borrower delivered to the Administrative Agent for distribution to the
Lenders a Maturity Date Extension Request (the “Extension Request”), and each Lender party hereto has separately agreed to a one-year extension of the Final Maturity Date (the “Extension”) by providing a
countersigned copy of the Extension Request to the Administrative Agent; 
 WHEREAS, the Extension will become effective concurrently with
this First Amendment, subject to the substantially simultaneous reallocation of the existing Commitments (the “Reallocation”) pursuant hereto; and 

WHEREAS, the Borrower and each Lender desire to amend the Credit Agreement pursuant to Section 9.02 thereof in order to effect the
Reallocation as provided in, and subject to the terms and conditions of, this First Amendment, with each Lender committing to provide the amount of the Commitments set forth opposite its name in Schedule 2.01 as amended and restated pursuant
to this First Amendment and attached hereto as Annex A. 
 NOW, THEREFORE, in consideration of the foregoing, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 

SECTION I– Amendments.  

1. Subject to the satisfaction of the conditions set forth in Section II(9) hereof, the Borrower, the Administrative Agent, each Lender
and each Issuing Bank hereby agree that on the First Amendment Effective Date each Lender and each Issuing Bank party hereto shall convert its respective Commitment or LC Commitment, as the case may be, (as in existence immediately prior to the
First Amendment Effective Date) into a Commitment or LC Commitment, respectively, in the amount set forth opposite its name on Schedule 2.01 attached 

 
hereto as Annex A, and each Lender shall acquire participations in each Letter of Credit issued and outstanding on such date pursuant to Section 2.04(e) such that each
Lender’s participation is equal to its Applicable Percentage (after giving effect to the First Amendment on the First Amendment Effective Date) of the Stated Amount of each such Letter of Credit. 

2. Subject to the satisfaction of the conditions set forth in Section II(9) hereof, the Credit Agreement is hereby amended as set forth
below: 
 a. Section 1.01 of the Credit Agreement is hereby amended by adding in the appropriate alphabetical
order the following new definitions: 
 “First Amendment” means the First Amendment to Credit Agreement,
dated as of October 21, 2015, among the Loan Parties, each Lender party thereto and the Administrative Agent. 

“First Amendment Effective Date” means the date of the effectiveness of the First Amendment in accordance with
Section II(9) thereof. 
 b. Section 1.01 of the Credit Agreement is hereby amended by amending and
restating the definition of “Commitment” as follows: 
 “Commitment” means (i) with respect
to each Lender immediately prior to the First Amendment Effective Date, the commitment of such Lender to make Loans and to acquire participations in Letters of Credit, the amount of which represents the maximum aggregate amount of such Lender’s
Revolving Credit Exposure hereunder, which is set forth under the heading “Commitments” on Schedule 2.01 (as in effect immediately prior to the First Amendment Effective Date), or in the Assignment and Assumption pursuant to which such
Lender shall have assumed its Commitment, as applicable, as such Commitment may be increased or reduced from time to time pursuant to Section 2.07, 2.17, 2.19, 9.04 or Article VII, and (ii) with respect to each Lender on and after the
First Amendment Effective Date after giving effect to the First Amendment, the commitment of such Lender to make Loans and to acquire participations in Letters of Credit, the amount of which represents the maximum aggregate amount of such
Lender’s Revolving Credit Exposure hereunder which is set forth under the heading “Commitments” on Schedule 2.01 (as amended and restated pursuant to the First Amendment), or in the Assignment and Assumption pursuant to which such
Lender shall have assumed its Commitment, as applicable, as such Commitment may be increased or reduced from time to time pursuant to Section 2.07, 2.17, 2.19, 9.04 or Article VII. The aggregate amount of the Lenders’ Commitments both
immediately prior to the First Amendment Effective Date and on the First Amendment Effective Date (after giving effect to the First Amendment) is $2,000,000,000. 

c. The portion of Schedule 2.01 of the Credit Agreement under the heading “Commitments” is hereby amended and
restated as set forth in Schedule 2.01 as attached hereto as Annex A. 

  
 -2- 

 SECTION II – Miscellaneous Provisions.  

1. In order to induce the Lenders to enter into this First Amendment, the Borrower hereby represents and warrants that: 

(a) this First Amendment has been duly authorized, executed and delivered by each Loan Party party hereto, and constitutes a
legal, valid and binding obligation of each Loan Party, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to
general principles of equity, regardless of whether considered in a proceeding in equity or at law; 
 (b) at the time of and
immediately after giving effect to this First Amendment, no Default or Event of Default shall have occurred and be continuing; and 

(c) the representations and warranties made by any Loan Party in or pursuant to the Loan Documents are true and correct in all
material respects on and as of the First Amendment Effective Date (except to the extent any such representation or warranty speaks only as of a previous date, in which case it was true and correct in all material respects on and as of such date);
provided, that, any representation and warranty that is qualified as to “materiality”, “Material Adverse Effect” or similar language shall be true and correct in all respects on such respective dates. 

2. The Credit Agreement, as specifically amended by this First Amendment, is and shall continue to be in full force and effect and is hereby
in all respects ratified and confirmed. 
 3. This First Amendment is limited as specified and shall not constitute a modification,
acceptance or waiver of any other provision of the Credit Agreement or any other Loan Document. 
 4. This First Amendment may be executed
in any number of counterparts and by the different parties hereto on separate counterparts, each of which counterparts when executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. A
complete set of counterparts shall be lodged with the Borrower and the Administrative Agent. 
 5. THIS FIRST AMENDMENT AND THE
RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK. 

  
 -3- 

 6. From and after the First Amendment Effective Date, all references in the Credit Agreement and
each of the other Loan Documents to the Credit Agreement shall be deemed to be references to the Credit Agreement, as amended hereby. 
 7.
This First Amendment is a Loan Document. 
 8. Each Loan Party hereby expressly acknowledges the terms of this First Amendment and
reaffirms, as of the date hereof, (a) the covenants and agreements contained in each Loan Document to which it is a party, including, in each case, such covenants and agreements as in effect immediately prior to giving effect to this First
Amendment and the transactions contemplated hereby and (b) its guarantee of the Guaranteed Obligations under the Subsidiary Guarantee Agreement, as applicable. 

9. This First Amendment shall become effective on the date (the “First Amendment Effective Date”) when: 

(a) each of the Loan Parties, the Lenders and the Administrative Agent shall have executed and delivered a copy of this First
Amendment (including by way of email or facsimile transmission) of the same to White & Case LLP, 1155 Avenue of the Americas, New York, New York 10036, Attention: Peixuan Wu (email: peixuan.wu@whitcase.com; Facsimile
No.: (212) 354-8113); 
 (b) at the time of and immediately after giving effect to this First Amendment, no Default
or Event of Default shall have occurred and be continuing; 
 (c) the representations and warranties made by any Loan Party
in or pursuant to the Loan Documents are true and correct in all material respects on and as of the First Amendment Effective Date (except to the extent any such representation or warranty speaks only as of a previous date, in which case it was true
and correct in all material respects on and as of such date); provided, that, any representation and warranty that is qualified as to “materiality”, “Material Adverse Effect” or similar language shall be true and correct
in all respects on such respective dates; 
 (d) The Administrative Agent shall have received a certificate, dated the First
Amendment Effective Date and signed by the president, a vice president or a Financial Officer of the Borrower, confirming compliance with the conditions set forth in paragraphs (b) and (c) of this Section II(9); and 

(e) The Administrative Agent shall have received all fees and other amounts due and payable to the Administrative Agent on or
prior to the First 

  
 -4- 

 
Amendment Effective Date, including, to the extent invoiced a reasonable time prior to the First Amendment Effective Date, reimbursement or payment of all out-of-pocket expenses of the Administrative Agent required to be reimbursed or paid by the Borrower pursuant to the terms of the Credit Agreement or as otherwise separately agreed in writing in connection
with this First Amendment and the related transactions. 
 [Remainder of page intentionally blank; Signature Pages Follow] 

*    *    * 

  
 -5- 

 IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart of this First Amendment to be duly
executed and delivered as of the date first above written. 
  

					
	REYNOLDS AMERICAN INC., as the Borrower
		
	By:	 	 /s/ Daniel A. Fawley

		 	Name:	 	Daniel A. Fawley
		 	Title:	 	Senior Vice President and Treasurer

									
	R. J. REYNOLDS TOBACCO HOLDINGS, INC., as a Subsidiary Guarantor	 		 	R.J. REYNOLDS TOBACCO CO., as a Subsidiary Guarantor
					
	By:	 	 /s/ Daniel A. Fawley
	 		 	By:	 	 /s/ Daniel A. Fawley

	Name:	 	Daniel A. Fawley	 		 	Name:	 	Daniel A. Fawley
	Title:	 	Senior Vice President and Treasurer	 		 	Title:	 	Vice President and Treasurer
			
	Address for Notices:	 		 	Address for Notices:
	P.O. Box 2866	 		 	401 N. Main St.
	401 N. Main St.	 		 	Winston-Salem, NC 27101
	Winston-Salem, NC 27102	 		 	Phone: 336-741-5000
	Phone: 336-741-5500	 		 	Fax: 336-741-7598
	Fax: 336-741-2998	 		 		 	
			
	REYNOLDS FINANCE COMPANY, as a Subsidiary Guarantor	 		 	CONWOOD HOLDINGS, INC., as a Subsidiary Guarantor
					
	By:	 	 /s/ Caroline M. Price
	 		 	By:	 	 /s/ Daniel A. Fawley

	Name:	 	Caroline M. Price	 		 	Name:	 	Daniel A. Fawley
	Title:	 	President	 		 	Title:	 	Vice President and Treasurer
			
	Address for Notices:	 		 	Address for Notices:
	Farmers Bank Building	 		 	401 N. Main St.
	Suite 1402	 		 	Winston-Salem, NC 27101
	301 N. Market Street	 		 	Phone: 336-741-2000
	Wilmington, DE 19801	 		 	Fax: 336-741-2998
	Phone: 302-425-3550	 		 		 	
	Fax: 302-425-3554	 		 		 	

									
	R. J. REYNOLDS GLOBAL PRODUCTS, INC., as a Subsidiary Guarantor	 		 	AMERICAN SNUFF COMPANY, LLC, as a Subsidiary Guarantor
					
	By:	 	 /s/ Daniel A. Fawley
	 		 	By:	 	 /s/ Daniel A. Fawley

	Name:	 	Daniel A. Fawley	 		 	Name:	 	Daniel A. Fawley
	Title:	 	Vice President and Treasurer	 		 	Title:	 	Vice President and Treasurer
			
	Address for Notices:	 		 	Address for Notices:
	P.O. Box 688	 		 	5106 Tradeport Dr.
	401 N. Main St.	 		 	Memphis, TN 38141
	Winston-Salem, NC 27102	 		 	Phone: 901-761-2050
	Phone: 336-741-5500	 		 	Fax: 336-728-0396
	Fax: 336-741-2998	 		 		 	
			
	ROSSWIL LLC, as a Subsidiary Guarantor	 		 	R. J. REYNOLDS TOBACCO COMPANY, as a Subsidiary Guarantor
					
	By:	 	 /s/ Daniel A. Fawley
	 		 	By:	 	 /s/ Daniel A. Fawley

	Name:	 	Daniel A. Fawley	 		 	Name:	 	Daniel A. Fawley
	Title:	 	Vice President and Treasurer	 		 	Title:	 	Treasurer
			
	Address for Notices:	 		 	Address for Notices:
	401 N. Main St.	 		 	P.O. Box 2959
	Winston-Salem, NC 27101	 		 	401 N. Main St.
	Phone: 336-741-2000	 		 	Winston-Salem, NC 27102
	Fax: 336-741-2998	 		 	Phone: 336-741-5000
		 		 		 	Fax: 336-741-7598

									
	REYNOLDS INNOVATIONS INC., as a Subsidiary Guarantor	 		 	RAI SERVICES COMPANY, as a Subsidiary Guarantor
					
	By:	 	 /s/ Daniel A. Fawley
	 		 	By:	 	 /s/ Daniel A. Fawley

	Name:	 	Daniel A. Fawley	 		 	Name:	 	Daniel A. Fawley
	Title:	 	Treasurer	 		 	Title:	 	Senior Vice President and Treasurer
			
	Address for Notices:	 		 	Address for Notices:
	P.O. Box 685	 		 	P.O. Box 464
	401 N. Main St.	 		 	401 N. Main St.
	Winston-Salem, NC 27102	 		 	Winston-Salem, NC 27102
	Phone: 336-741-5700	 		 	Phone: 336-741-4500
	Fax: 336-741-7598	 		 	Fax: 336-741-2998
			
	SANTA FE NATURAL TOBACCO COMPANY, INC., as a Subsidiary Guarantor	 		 	LORILLARD LICENSING COMPANY LLC, as a Subsidiary Guarantor
					
		 		 		 	By:	 	 /s/ Daniel A. Fawley

	By:	 	 /s/ Daniel A. Fawley
	 		 	Name:	 	Daniel A. Fawley
	Name:	 	Daniel A. Fawley	 		 	Title:	 	Treasurer
	Title:	 	Vice President and Treasurer	 		 		 	
			
	Address for Notices:	 		 	Address for Notices:
	One Plaza La Prensa	 		 	401 N. Main St.
	Santa Fe, NM 87507	 		 	Winston-Salem, NC 27102
	Phone: 505-982-4257	 		 	Phone: 336-741-5700
	Fax: 505-986-8445	 		 	Fax: 336-741-7598

 
					
	JPMORGAN CHASE BANK, N.A. as Administrative Agent
		
	By:	 	 /s/ Tony Yung

		 	Name:	 	Tony Yung
		 	Title:	 	Executive Director
	
	JPMORGAN CHASE BANK, N.A. as a Lender and as an Issuing Bank
		
	By:	 	 /s/ Tony Yung

		 	Name:	 	Tony Yung
		 	Title:	 	Executive Director

 
					
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE FIRST ABOVE WRITTEN, AMONG REYNOLDS AMERICAN INC., EACH LENDER PARTY TO THE CREDIT AGREEMENT AND JP MORGAN CHASE BANK, N.A., AS
ADMINISTRATIVE AGENT
	
	CITIBANK, N.A., as a Lender and Issuing Bank
		
	By:	 	 /s/ Michael Vondriska

		 	Name:	 	Michael Vondriska
		 	Title:	 	Vice President

 
					
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE FIRST ABOVE WRITTEN, AMONG REYNOLDS AMERICAN INC., EACH LENDER PARTY TO THE CREDIT AGREEMENT AND JP MORGAN CHASE BANK, N.A., AS
ADMINISTRATIVE AGENT
	
	CREDIT SUISSE AG, Cayman Islands Branch as a Lender
		
	By:	 	 /s/ Robert Hetu

		 	Name:	 	Robert Hetu
		 	Title:	 	Authorized Signatory
		
	By:	 	 /s/ Michael Moreno

		 	Name:	 	Michael Moreno
		 	Title:	 	Authorized Signatory

 
					
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE FIRST ABOVE WRITTEN, AMONG REYNOLDS AMERICAN INC., EACH LENDER PARTY TO THE CREDIT AGREEMENT AND JP MORGAN CHASE BANK, N.A., AS
ADMINISTRATIVE AGENT
	
	Fifth Third Bank, an Ohio banking corporation,
	as a Lender
		
	By:	 	 /s/ Mary Ramsey

		 	Name:	 	Mary Ramsey
		 	Title:	 	Vice President

 
					
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE FIRST ABOVE WRITTEN, AMONG REYNOLDS AMERICAN INC., EACH LENDER PARTY TO THE CREDIT AGREEMENT AND JP MORGAN CHASE BANK, N.A., AS
ADMINISTRATIVE AGENT
	
	GOLDMAN SACHS BANK USA, as a Lender
		
	By:	 	 /s/ Rebecca Kratz

		 	Name:	 	Rebecca Kratz
		 	Title:	 	Authorized Signatory

 
					
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE FIRST ABOVE WRITTEN, AMONG REYNOLDS AMERICAN INC., EACH LENDER PARTY TO THE CREDIT AGREEMENT AND JP MORGAN CHASE BANK, N.A., AS
ADMINISTRATIVE AGENT
	
	Mizuho Bank, Ltd., as a Lender
		
	By:	 	 /s/ James Fayen

		 	Name:	 	James Fayen
		 	Title:	 	Deputy General Manager

 
					
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE FIRST ABOVE WRITTEN, AMONG REYNOLDS AMERICAN INC., EACH LENDER PARTY TO THE CREDIT AGREEMENT AND JP MORGAN CHASE BANK, N.A., AS
ADMINISTRATIVE AGENT
	
	ROYAL BANK OF CANADA, as a Lender
		
	By:	 	 /s/ Simone G. Vinocour McKeever

		 	Name:	 	Simone G. Vinocour McKeever
		 	Title:	 	Authorized Signatory

 
					
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE FIRST ABOVE WRITTEN, AMONG REYNOLDS AMERICAN INC., EACH LENDER PARTY TO THE CREDIT AGREEMENT AND JP MORGAN CHASE BANK, N.A., AS
ADMINISTRATIVE AGENT
	
	THE BANK OF NOVA SCOTIA, as a Lender
		
	By:	 	 /s/ Michael Grad

		 	Name:	 	Michael Grad
		 	Title:	 	Director

 
					
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE FIRST ABOVE WRITTEN, AMONG REYNOLDS AMERICAN INC., EACH LENDER PARTY TO THE CREDIT AGREEMENT AND JP MORGAN CHASE BANK, N.A., AS
ADMINISTRATIVE AGENT
	
	PNC BANK, NATIONAL ASSOCIATION, as a Lender
		
	By:	 	 /s/ Matthew M. Springman

		 	Name:	 	Matthew M. Springman
		 	Title:	 	Executive Vice President

 
					
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE FIRST ABOVE WRITTEN, AMONG REYNOLDS AMERICAN INC., EACH LENDER PARTY TO THE CREDIT AGREEMENT AND JP MORGAN CHASE BANK, N.A., AS
ADMINISTRATIVE AGENT
	
	Wells Fargo Bank, N.A., as a Lender
		
	By:	 	 /s/ Kay Reedy

		 	Name:	 	Kay Reedy
		 	Title:	 	Managing Director

 
					
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE FIRST ABOVE WRITTEN, AMONG REYNOLDS AMERICAN INC., EACH LENDER PARTY TO THE CREDIT AGREEMENT AND JP MORGAN CHASE BANK, N.A., AS
ADMINISTRATIVE AGENT
	
	AgFirst Farm Credit Bank, as a Lender
		
	By:	 	 /s/ Steven J O’Shea

		 	Name:	 	Steven J O’Shea
		 	Title:	 	Vice President

 
					
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE FIRST ABOVE WRITTEN, AMONG REYNOLDS AMERICAN INC., EACH LENDER PARTY TO THE CREDIT AGREEMENT AND JP MORGAN CHASE BANK, N.A., AS
ADMINISTRATIVE AGENT
	
	The Bank of New York Mellon, as a Lender
		
	By:	 	 /s/ Jeffrey Dears

		 	Name:	 	Jeffrey Dears
		 	Title:	 	Vice President

 
			
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE FIRST ABOVE WRITTEN, AMONG REYNOLDS AMERICAN INC., EACH LENDER PARTY TO THE CREDIT AGREEMENT AND JP MORGAN CHASE BANK, N.A., AS
ADMINISTRATIVE AGENT
	
	UNITED FCS, PCA dba FCS COMMERCIAL FINANCE GROUP, as a Lender
		
	By:	 	 /s/ Daniel J. Best

		 	Daniel J. Best
		 	Vice President

 
					
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE FIRST ABOVE WRITTEN, AMONG REYNOLDS AMERICAN INC., EACH LENDER PARTY TO THE CREDIT AGREEMENT AND JP MORGAN CHASE BANK, N.A., AS
ADMINISTRATIVE AGENT
	
	FARM CREDIT BANK OF TEXAS, as a Lender
		
	By:	 	 /s/ Alan Robinson

		 	Name:	 	Alan Robinson
		 	Title:	 	Vice President

 
					
	SIGNATURE PAGE TO THE FIRST AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE DATE FIRST ABOVE WRITTEN, AMONG REYNOLDS AMERICAN INC., EACH LENDER PARTY TO THE CREDIT AGREEMENT AND JP MORGAN CHASE BANK, N.A., AS
ADMINISTRATIVE AGENT
	
	Northern Trust Company, as a Lender
		
	By:	 	 /s/ John Canty

		 	Name:	 	John Canty
		 	Title:	 	Senior Vice President

 ANNEX A 

Schedule 2.01 
 Commitments; LC
Commitments 
 Commitments 
  

					
	Lender	  	Commitment	 
		
	 JPMorgan Chase Bank, N.A.
	  	$	174,375,000	  
	 Citibank, N.A.
	  	$	174,375,000	  
	 Credit Suisse AG, Cayman Islands Branch
	  	$	174,375,000	  
	 Fifth Third Bank
	  	$	174,375,000	  
	 Goldman Sachs Bank USA
	  	$	174,375,000	  
	 Mizuho Bank, Ltd.
	  	$	174,375,000	  
	 Royal Bank of Canada
	  	$	174,375,000	  
	 The Bank of Nova Scotia
	  	$	174,375,000	  
	 PNC Bank, National Association
	  	$	132,500,000	  
	 Wells Fargo Bank, National Association
	  	$	132,500,000	  
	 AgFirst Farm Credit Bank
	  	$	107,500,000	  
	 The Bank of New York Mellon
	  	$	72,500,000	  
	 United FCS, PCA
	  	$	60,000,000	  
	 Farm Credit Bank of Texas
	  	$	50,000,000	  
	 Northern Trust Company
	  	$	50,000,000	  
	 Total
	  	$	2,000,000,000	  

 LC Commitments 
  

					
	Lender	  	Commitment	 
		
	 JPMorgan Chase Bank, N.A.
	  	$	     50,000,000	  
	 Citibank, N.A.
	  	$	50,000,000EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 

AMENDMENT No. 1, dated as of October 23, 2015 (this “Amendment”), to the Credit Agreement dated as of
October 23, 2013, among NEWS CORPORATION, a Delaware corporation (the “Borrower”), the several banks and other financial institutions or entities from time to time parties to the Credit Agreement (the
“Lenders”), JPMORGAN CHASE BANK, N.A. and CITIBANK, N.A., as co-administrative agents, JPMCB as Designated Agent (the “Designated Agent”), and the other parties thereto (as amended, restated, modified and
supplemented from time to time, the “Credit Agreement”); capitalized terms used and not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement. J.P. Morgan Securities LLC, Citigroup Global
Markets Inc. and Commonwealth Bank of Australia shall act as the joint lead arrangers and bookrunners with respect to the Amendment (the “Lead Arrangers”). 

WHEREAS, the Borrower desires to amend the Credit Agreement on the terms set forth herein; 

WHEREAS, Section 8.01 of the Credit Agreement provides that the Loan Parties and the Lenders may amend the Credit Agreement and the other
Loan Documents for certain purposes; 
 NOW, THEREFORE, in consideration of the premises contained herein and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows: 

Section 1. Amendment to Credit Agreement. As of the Amendment No.1 Effective Date: 

(i) Schedule I to the Credit Agreement is hereby amended and restated in its entirety with the schedule attached hereto as
Exhibit I. 
 (ii) Section 1.01 of the Credit Agreement is amended to add the following definitions: 

“Amendment No. 1” means Amendment No. 1 to this Agreement dated as of October 23, 2015. 

“Amendment No. 1 Effective Date” shall mean October 23, 2015, the date on which the conditions set
forth in Section 3 of Amendment No. 1 have been satisfied. 
 (iii) The definition of “Applicable Margin”
in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety with the following: 

““Applicable Margin” means as of any date, a percentage per annum set forth in the table below
determined by the Adjusted Operating Income Leverage Ratio as set forth in the most recent Compliance Certificate received by the Designated Agent pursuant to Section 5.01(i); provided that Pricing Level I as set forth below shall apply
until delivery by the Borrower to the Designated Agent of the Compliance Certificate for the first fiscal quarter completed after the Amendment No. 1 Effective Date pursuant to Section 5.01(i): 

									
	 Pricing

Level
	  	 Adjusted Operating

Income
 Leverage Ratio
	  	 Applicable Margin

for
 Eurodollar

Rate Advances
	  	 Applicable Margin

for
 Base Rate

Advances
	  	 Commitment
Fees

	 I
	  	< 1.0x	  	1.50%	  	0.50%	  	0.225%
	 II
	  	> 1.0x and < 2.0x	  	1.75%	  	0.75%	  	0.250%
	 III
	  	> 2.0x and < 2.5x	  	2.00%	  	1.00%	  	0.325%
	 IV
	  	> 2.5x	  	2.25%	  	1.25%	  	0.450%

 Notwithstanding anything to the contrary contained above in this definition or elsewhere in this Agreement, if
it is subsequently determined that the Adjusted Operating Income Leverage Ratio set forth in any Compliance Certificate delivered to the Designated Agent is inaccurate for any reason and the result thereof is that the Lenders received interest or
fees for any period based on an Applicable Margin that is less than that which would have been applicable had the Adjusted Operating Income Leverage Ratio been accurately determined, then, for all purposes of this Agreement, the “Applicable
Margin” for any day occurring within the period covered by such Compliance Certificate shall retroactively be deemed to be the relevant percentage as based upon the accurately determined Adjusted Operating Income Leverage Ratio for such period,
and any shortfall in the interest or fees theretofore paid by the Borrower for the relevant period pursuant to Section 2.04 and Section 2.07 as a result of the miscalculation of the Adjusted Operating Income Leverage Ratio shall be deemed
to be (and shall be) due and payable under the relevant provisions of Section 2.04 and Section 2.07, as applicable, at the time the interest or fees for such period were required to be paid pursuant to such Section (and shall remain due
and payable until paid in full, together with all amounts owing under Section 2.07(b), in accordance with the terms of this Agreement).” 

(iv) The definition of “Sanctioned Country” in Section 1.01 of the Credit Agreement is hereby amended and
restated in its entirety with the following: 
 ““Sanctioned Country” means, at any time, a country,
region or territory which is itself the subject or target of any Sanctions (at the time of this Agreement, Crimea, Cuba, Iran, North Korea, Sudan and Syria).” 

(v) The definition of “Sanctioned Person” in Section 1.01 of the Credit Agreement is hereby amended and restated
in its entirety with the following: 
 ““Sanctioned Person” means, at any time, (a) any Person
listed in any Sanctions-related list of designated Persons maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of State, by the United Nations Security Council, 

  
 -2- 

 
the European Union, any European Union member state, Her Majesty’s Treasury of the United Kingdom, the Australian Department of Foreign Affairs and Trade or other relevant sanctions
authority, (b) any Person operating, organized or resident in a Sanctioned Country or (c) any Person the Borrower knows after reasonable inquiry to be owned or controlled by any such Person or Persons described in the foregoing clauses
(a) or (b).” 
 (vi) The definition of “Sanctions” in Section 1.01 of the Credit Agreement is hereby
amended and restated in its entirety with the following: 
 ““Sanctions” means all economic or
financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S.
Department of State, or (b) the United Nations Security Council, the European Union, any European Union member state, Her Majesty’s Treasury of the United Kingdom, the Australian Department of Foreign Affairs and Trade or other relevant
sanctions authority.” 
 (vii) The definition of “SEC Filings” in Section 1.01 of the Credit Agreement is
hereby amended and restated in its entirety with the following: 
 ““SEC Filings” means the
Borrower’s Annual Report on Form 10-K for the fiscal year ended June 30, 2015, or any publicly available press releases of the Borrower or filings by the Borrower with the SEC prior to the Amendment No. 1 Effective Date.” 

(viii) The definition of “Termination Date” in Section 1.01 of the Credit Agreement is hereby amended by
replacing “the five year anniversary of the Effective Date” with “October 23, 2020”. 
 (ix)
Section 2.04(a) of the Credit Agreement is hereby amended by adding the following proviso to the end thereof: 

“; provided further that all accrued commitment fees to but excluding the Amendment No. 1 Effective Date
shall be payable on the Amendment No. 1 Effective Date”. 
 (x) The last sentence of Section 4.01(e) of the
Credit Agreement is hereby amended and restated in its entirety with the following: 
 “Except as described in the SEC
Filings prior to the Amendment No. 1 Effective Date, since June 30, 2015, there has been no Material Adverse Change.” 

(xi) Section 4.01(g) of the Credit Agreement is hereby amended by replacing “Effective Date” with
“Amendment No. 1 Effective Date”. 
 (xii) Section 4.01(m) of the Credit Agreement is hereby amended and
restated in its entirety with the following: 

  
 -3- 

 “(m) The Borrower has implemented and maintains in effect policies and
procedures reasonably designed to achieve compliance by the Borrower, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions, and the Borrower and its Subsidiaries, and, to
the knowledge of the Borrower, their respective directors, officers and employees, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects. None of (a) the Borrower, any Subsidiary or, to the knowledge of
the Borrower, any of their respective directors, officers or employees, that will act in any capacity in connection with or benefit from the credit facility established hereby, is a Sanctioned Person.” 

(xiii) Section 5.01(a) of the Credit Agreement is hereby amended and restated in its entirety with the following: 

“Compliance with Laws, Etc. Comply, and cause each of its Subsidiaries to comply, with all applicable laws, rules,
regulations and orders, such compliance to include, without limitation, compliance with ERISA and Environmental Laws, except to the extent that the failure to so comply would not be reasonably likely to have a Material Adverse Effect. The Borrower
will maintain policies and procedures reasonably designed to achieve compliance by the Borrower, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions.” 

(xiv) Section 5.02(g) of the Credit Agreement is hereby amended and restated in its entirety with the following: 

“(g) Request any Borrowing or Letter of Credit, or use, or authorize any of its Subsidiaries or its or their respective
directors, officers, employees or agents to use, the proceeds of any Borrowing or Letter of Credit (A) for the purpose of offering, paying, promising to pay, or authorizing the payment or giving of money, or anything else of value, to any
Person in violation of any Anti-Corruption Laws, (B) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, to the extent such activities,
business or transaction would be prohibited by Sanctions applicable to Borrower or any such Subsidiary, or (C) in any manner that Borrower knows after reasonable inquiry to be likely to result in the violation of any Sanctions applicable to any
party hereto.” 
 Section 2. Representations and Warranties. 

(a) On the date hereof, before and after giving effect to this Amendment, each of the representations and warranties in the Credit Agreement
and in the other Loan Documents are true and correct in all material respects (except for representations and warranties qualified as to materiality and Material Adverse Effect, which shall be true and correct in all respects) on and as of the date
hereof as though made on and as of the date hereof (except to the extent any such representation or warranty specifically relates to an earlier date in which case such representation and warranty shall be accurate in all material respects as of such
earlier date). 

  
 -4- 

 (b) At the time of and immediately after giving effect to this Amendment, no Default has occurred
and is continuing. 
 Section 3. Effectiveness. Section 1 of this Amendment shall become effective on the date (such
date, if any, the “Amendment No.1 Effective Date”) that the following conditions have been satisfied: 
 (i)
Except as described in the SEC Filings prior to the Amendment No. 1 Effective Date, there shall have occurred no Material Adverse Change since June 30, 2015. 

(ii) (x) The Borrower shall have paid all reasonable and documented out-of-pocket expenses of the Designated Agent (including
the reasonable and documented accrued fees and expenses of one primary counsel to the Designated Agent) invoiced at least three Business Days prior to the Amendment No. 1 Effective Date, (y) the Borrower shall have paid, for the account of
each Lead Arranger, such fees as such Lead Arranger and the Borrower have separately agreed in writing in connection with this Amendment that are required to be paid by the Borrower on the Amendment No. 1 Effective Date and (z) the
Borrower shall have paid (a) for the account of each Lender, a fee equal to 0.10% of the aggregate principal amount of such Lender’s Revolving Credit Commitments as in effect immediately prior to the Amendment No. 1 Effective Date
(the “Existing Revolving Credit Commitment”) and (b) for the account of each Lender, a fee equal to 0.25% of the aggregate principal amount of the excess of such Lender’s Revolving Credit Commitments set forth on
Exhibit I hereto over such Lender’s Existing Revolving Credit Commitment, if applicable. 
 (iii) On the
Amendment No. 1 Effective Date, the representations and warranties in Section 2 of this Amendment shall be true and correct and the Designated Agent shall have received a certificate signed by a Responsible Officer of the Borrower, dated
the Amendment No. 1 Effective Date, to that effect. 
 (iv) The Designated Agent shall have received on or before the
Amendment No. 1 Effective Date the following, each dated such day, in form and substance satisfactory to the Designated Agent: 

(1) Executed counterparts to this Amendment from each of the Loan Parties and each of the Lenders and Issuing Banks
listed on Exhibit I hereto; 
 (2) Certified copies of the resolutions of the board of directors of each Loan Party
approving this Amendment and the documents executed and delivered in connection herewith, and of all documents evidencing other necessary corporate action and governmental approvals, if any, with respect to this Amendment; 

  
 -5- 

 (3) A certificate of a Responsible Officer of each Loan Party certifying
the names and true signatures of the Responsible Officers of such Loan Party authorized to execute and deliver this Amendment and the other documents to be delivered hereunder; 

(4) A favorable opinion of Simpson Thacher & Bartlett LLP, counsel for the Loan Parties, in form and substance
satisfactory to the Designated Agent. 
 (v) The Designated Agent and each Lender shall have received all information
requested by the Designated Agent or such Lender at least five Business Days prior to the Amendment No. 1 Effective Date to comply with the PATRIOT Act and other “know your customer” laws and regulations. 

Section 4. 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 shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this Amendment by
telecopier or other electronic means shall be effective as delivery of a manually executed counterpart of this Amendment. 

Section 5. Applicable Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE
STATE OF NEW YORK. 
 Section 6. Headings. Section and Subsection headings in this Amendment are included
herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose or be given any substantive effect. 

Section 7. Effect of Amendment. Except as expressly set forth herein (including in Exhibit I hereto),
(i) this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders or the Designated Agent under the Credit Agreement or any other Loan Document, and
(ii) shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other provision of any other Loan Document. Each and every term, condition,
obligation, covenant and agreement contained in the Credit Agreement or any other Loan Document is hereby ratified and re-affirmed in all respects and shall continue in full force and effect as expressly amended hereby. Each Loan Party reaffirms its
obligations under the Loan Documents to which it is party after giving effect to this Amendment. This Amendment shall constitute a Loan Document for purposes of the Credit Agreement and from and after the Amendment No.1 Effective Date, all
references to the Credit Agreement in any Loan Document and all references in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit Agreement, shall, unless
expressly provided otherwise, refer to the Credit Agreement as amended by this Amendment, and each reference to any Guarantee shall refer to such Guarantee as amended hereby. 

  
 -6- 

 Section 8. Submission To Jurisdiction; Waivers. Each of the parties
hereto hereby irrevocably and unconditionally agrees that Section 8.11 of the Credit Agreement is incorporated herein mutatis mutandis. 

Section 9. Loss of FATCA Grandfathering. From and after the Amendment No.1 Effective Date, solely for purposes of
FATCA, the Borrower and the Designated Agent shall treat, and the Lenders hereby authorize the Borrower and the Designated Agent to treat, the Credit Agreement and all advances made thereunder (including any Advances already outstanding) as no
longer qualifying as “grandfathered obligations” within the meaning of Treasury Regulation section 1.1471-2(b)(2)(i). 

[The remainder of this page is intentionally left blank] 

  
 -7- 

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

					
	NEWS CORPORATION, as Borrower
		
	By:	 	 /s/ Kevin P. Halpin

		 	Name:	 	Kevin P. Halpin
		 	Title:	 	Senior Vice President and
		 		 	Deputy Chief Financial Officer

  
 [Signature Page to
Amendment] 

 
			
	 JPMORGAN CHASE BANK, N.A.,

	 as Designated Agent, an Issuing Bank and a Lender

		
	By:	 	 /s/ Peter Thauer

		 	 Name: Peter Thauer
 Title: Managing
Director

  
 [Signature Page to
Amendment] 

 
			
	CITIBANK, N.A., as Co-Administrative Agent, an Issuing Bank and a Lender
		
	By:	 	 /s/ Michael Vondriska

		 	Name: Michael Vondriska
		 	Title: Vice President

  
 [Lender Signature Page to
Amendment] 

 
			
	 COMMONWEALTH BANK OF AUSTRALIA,

(Name of Institution)

		
	By:	 	 /s/ William Ho

		 	Name: William Ho
		 	Title: Senior Associate

  
 [Lender Signature Page to
Amendment] 

 
			
	BANK OF AMERICA, N.A.
		
	By:	 	 /s/ Eric Ridgway

		 	Name: Eric Ridgway
		 	Title: Vice President

  
 [Lender Signature Page to
Amendment] 

 
			
	DEUTSCHE BANK AG NEW YORK BRANCH,
		
	By:	 	 /s/ Virginia Cosenza

		 	Name: Virginia Cosenza
		 	Title: Vice President
		
	By:	 	 /s/ Ming K. Chu

		 	Name: Ming K. Chu
		 	Title: Vice President

  
 [Lender Signature Page to
Amendment] 

 
			
	GOLDMAN SACHS BANK USA
		
	By:	 	 /s/ Ryan Durkin

		 	Name: Ryan Durkin
		 	Title: Authorized Signatory

  
 [Lender Signature Page to
Amendment] 

 
			
	HSBC BANK USA, NATIONAL ASSOCIATION,
	(Name of Institution)
		
	By:	 	 /s/ Eddie Dec

		 	Name: Eddie Dec
		 	Title: Director

  
 [Lender Signature Page to
Amendment] 

 
			
	  

	
	Lloyds Bank plc
		
	By:	 	 /s/ Erin Doherty

		 	Name: Erin Doherty – D006
		 	Title: Assistant Vice President
		
	By:	 	 /s/ Daven Popat

		 	Name: Daven Popat – P003
		 	Title: Senior Vice President

  
 [Lender Signature Page to
Amendment] 

 
			
	National Australia Bank Limited
	(Name of Institution)
		
	By:	 	 /s/ Archit Goradia

		 	Name: Archit Goradia
		 	Title: Director – Telco., Media & Internet

  
 [Lender Signature Page to
Amendment] 

 
			
	Westpac Banking Corporation
	
	                                    
                                         
                         ,
		
	By:	 	 /s/ Richard Yarnold

		 	Name: Richard Yarnold
		 	Title: Director

  
 [Lender Signature Page to
Amendment] 

 EXHIBIT I 

Schedule I 

Commitments 
  

									
	 Name of Initial Lender
	  	Revolving Credit
Commitment	 	  	Letter of Credit
Commitment1	 
	 JPMorgan Chase Bank, N.A.
	  	$	86,000,000	  	  	$	50,000,000	  
	 Citibank, N.A.
	  	$	86,000,000	  	  	$	50,000,000	  
	 Commonwealth Bank of Australia
	  	$	86,000,000	  	  			
	 Bank of America, N.A.
	  	$	56,000,000	  	  			
	 Deutsche Bank AG New York Branch
	  	$	56,000,000	  	  			
	 Goldman Sachs Bank USA
	  	$	56,000,000	  	  			
	 HSBC Bank USA, National Association
	  	$	56,000,000	  	  			
	 Lloyds Bank plc
	  	$	56,000,000	  	  			
	 National Australia Bank Limited
	  	$	56,000,000	  	  			
	 Westpac Banking Corporation
	  	$	56,000,000	  	  			
	 TOTAL:
	  	$	650,000,000	  	  	$	100,000,000	  

  

	1 	The Letter of Credit Commitment is part of and not in addition to the Revolving Credit Commitment.

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