Document:

Exhibit 4.152

Exhibit 4.152

Confidential treatment has been requested for portions of this exhibit. The copy filed herewith
omits the information subject to the confidentiality request. Omissions are designated as ***. A
complete version of this exhibit has been filed separately with the Securities and Exchange
Commission.

[Translated from the original Chinese version]

Lessor:

Shanghai Zhangjiang Micro-electronics Port Co. Ltd.

Lessee:

Zhengning Information & Technology (Shanghai) Co., Ltd.

Shanghai Zhangjiang Micro-electronics Port Office Space

Tenancy Contract

	 	 	 
	***	 	- indicates material omitted pursuant to a Confidential Treatment Request and filed separately with the Securities and Exchange Commission

 

 

 

Shanghai Zhangjiang Micro-electronics Port Office Space

Tenancy Contract

Lessor: Shanghai Zhangjiang Micro-electronics Port Co. Ltd. (hereinafter
referred to as Party A)

Domicile/Contacting Address: Room 104—A, Building 2, No.690, Bibo Road, Pudong
New Area, Shanghai, P. R. C.

Business License Registration No.: Joint Venture Pudong Shanghai 314264 (Pudong)

Tel: 86-21-50803288

Fax: 86-21-50803588

Zip Code: 201203

Lessee: Zhengning Information & Technology (Shanghai) Co., Ltd. (hereinafter
referred to as Party B)

Business License Registration No.: Sole Proprietorship Pudong Shanghai 322717
(Pudong)

Domicile/Contacting Address:

Tel: 50819999

Fax: 50819798

Zip Code: 200122

	 	 	 
	***	 	- indicates material omitted pursuant to a Confidential Treatment Request and filed separately with the Securities and Exchange Commission

 

1

 

Pursuant to the Contract Law of the People’s Republic of China and the
Regulations of Shanghai on House Tenancy, on the basis of equality, willingness, fairness and
sincerity and after bilateral consultation, Party A and Party B hereby enter into this Contract
regarding Party B’s lawful tenancy of Party A’s office space.

Article 1 Description of the Office Space to Lease

	 	1.1	 	The office space leased by Party A to Party B is located at Room 301, Building 8,
No. 690, Bibo Road, Pudong New Area, Shanghai (hereinafter referred to as “the
Premises”), and the detailed information is attached as Appendix 1.

	 	1.2	 	The actual building area of the Premises is included in Appendix 1, and the purpose
of the Premises is for high-tech research and development and office use. The actual
building area of the Premises is measured by surveying institution accredited by Shanghai
Municipal Housing, Land and Resources Administration, and the filing of the surveying
result is confirmed by the Housing and Land Surveying Results Management Administration
of Pudong New Area of Shanghai.

	 	1.3	 	The map of the Premises is attached as Appendix 2 with the leasing area shaded
green.

	 	1.4	 	The leasing relationship is established between Party A, as the owner of the
Premises, and Party B. The contract is signed with Party A’s guarantee to Party B that
the Premises are not involved in any existing or potential legal dispute. Party A has
notified Party B that the Premises had been mortgaged to Bank of Shanghai, Pudong Branch
prior to signing the Contract.

	 	1.5	 	The major decorations and facilities of the Premises are listed in Appendix 3, and
the delivery standard of Party A is subject to the actual condition of the Premises. Both
parties shall sign the confirmation documents as both parties agree that the confirmation
documents aforementioned shall be used as acceptance requirements of both Party A’s
delivery of the Premises to Party B and Party B’s return of the Premises to Party A at
the termination of the Contract.

Article 2 Purposes of the Leased Premises

	 	2.1	 	Party B shall use the Premises complying with the agreed purposes in Appendix 4 and
all related housing and property management regulations of the People’s Republic of China
and Shanghai City,

	 	2.2	 	Party B shall not change the purpose of the Premises as agreed above without Party
A’s written consent and the confirmation of related authorities according to regulations.

Article 3 Delivery Date and Term of the Lease

	 	3.1	 	The leasing term of the Premises is attached in Appendix 5.

	 	3.2	 	Party A shall deliver the office space to Party B on April 1, 2010 for decoration.
Party B shall complete all the related procedures before entering
the Premises and starting construction. If Party B fails to receive the Premises due to
Party B’s reason, or Party A has right to delay the delivery agreed in the Contract, the
term of the lease in this Contract shall remain the same. If Party A delays the delivery
due to Party A’s reason, the starting date of the term shall be postponed accordingly.

	 	 	 
	***	 	- indicates material omitted pursuant to a Confidential Treatment Request and filed separately with the Securities and Exchange Commission

 

2

 

Article 4 Payment of Rent

	 	4.1	 	The amount and payment method of rent of the Premises is attached in Appendix 6.

Article 5 Deposit and other fees

	 	5.1	 	Party B shall pay a deposit to Party A as the amount and payment term agreed in
Appendix 7. Party A has right to delay the delivery of the Premises if Party B fails to
make full payment of the deposit before the delivery of the Premises.

	 	5.2	 	Within the term of the lease, if Party A sustains losses due to Party B’s fault,
Party A can take the actual amount of loss from the deposit as compensation, and at the
same time Party B shall replenish the deposit to Party A.

	 	5.3	 	If the deposit cannot cover Party A’s loss, Party A has right to recourse against
Party B separately.

	 	5.4	 	After the termination of the lease or the Contract is terminated before expiration,
Party A shall deduct penalty and other fees liable to Party B according to this Contract
from the deposit and return the rest, if there is any, to Party B without interest within
15 days after the termination of the Contract.

	 	5.5	 	Party B shall pay property management fees according to Appendix 8.

	 	5.6	 	With the approval from government price authorities, the reasonable adjustment of
property management fees due to the change of the property management company resulted
from new recruitment of property management company or the change of cost of the property
management company (including government charges and salary adjustment of employees),
Party A shall notify Party B in writing 30 days in advance. Party B shall make payment
according to the adjusted prices.

	 	5.7	 	Within the term of the lease, Party B shall make timely payment of water,
electricity, telephone bills and other fees payables notified by government utility
agencies or other reasonable evidences. Party B shall also be liable to all related fees
occurred from using the Premises, including but not limited to map checking, construction
coordination, temporary power, garbage cleaning fees, etc, and with prices to be
negotiated separately.

The electricity consumption is calculated separately by a power meter exclusively for the
Premises; the price of electricity is allocated by the property management company on the
basis of the total electricity bill of the block provided by the power station.

	 	 	 
	***	 	- indicates material omitted pursuant to a Confidential Treatment Request and filed separately with the Securities and Exchange Commission

 

3

 

Article 6 Decoration of the Premises

	 	6.1	 	Party B shall decorate or install devices on the Premises according to the
following rules:

	 	6.1.1	 	Party B shall register the decoration project with related government agency
before the construction; special project such as fire prevention and environment
protection shall be approved by related government agency.

	 	6.1.2	 	Party B shall decorate or install fire prevention and electric equipments with the
draft proposed and approved by the property management company in advance. The property
management company shall notify whether the proposal is approved within 7 working days,
and refusal without cause, delayed approval or no reply shall be taken as approval.

	 	6.1.3	 	Party B shall carry out the construction according to the draft approved by the
property management company. If there is need to modify the draft, Party B shall propose
the new draft following clause 6.1.1.

	 	6.1.4	 	Party B shall carry out interior decorations, separations, reconstruction and
equipment installations according to laws and regulations in the People’s Republic of
China. Party B shall be liable for the losses of Party A arising there from. Party A
shall not be liable for any delay or loss due to the refusal or delay of government
agencies.

	 	6.1.5	 	Party B shall carry out interior decorations and install equipment in an
appropriate style with good quality to meet the general interior designing level and
style of Shanghai Zhangjiang Micro-electronics Port Office Buildings.

	 	6.1.6	 	Party B shall install or post any illuminating advertisement, service symbol,
marks or other publicities that are visible from outside with detailed design draft
proposed to and approved in writing by the property company in advance. The property
management company shall notify whether the proposal is approved within 7 working days,
and refusal without cause, delayed approval or no reply shall be taken as approval.

	 	6.2	 	The separate power meter for the Premises shall cover all electric equipments in
the Premises that Party B allows other parties to install.

	 	6.3	 	Party B shall promote full cooperation between Party B’s employees, contractors,
construction workers and Party A, Party A’s property management company and Party A’s
contractors and construction workers. Party B and Party B’s contractors, construction
workers shall obey the related construction rules of the property management company.

Article 7 Condition of the Returning Premises

	 	7.1	 	Party B shall return the Premises to Party A at its original condition within 10
days after the termination of this Contract. Party A has right to require Party B to
remove all the decorations, reconstruction, installed equipments aforementioned and
return the Premises to Party A at its original condition(roughcast office space).

	 	 	 
	***	 	- indicates material omitted pursuant to a Confidential Treatment Request and filed separately with the Securities and Exchange Commission

 

4

 

	 	7.2	 	Party A has right to ask Party B to keep the decorations in the Premises. Party
A has right to ask Party B to transfer the decoration in the Premises to Party A and
Party B shall obey. The objects aforementioned shall be in a good to rent condition (not
include reasonable wearing). After the transfer, Party A shall be the owner of the
decorations, as a consideration, the obligation of Party B to convert the Premises back
to its original condition is partially deducted.

Article 8 Sublease, Transfer and Exchange

	 	8.1	 	Party B shall not sublease, transfer or sublease, transfer, exchange in disguised
form of the Premises or any part of the Premises except to the third party in clause 8.2.
Party B shall be liable of breaching clause 8.1 if Party B allow any third party other
than in clause 8.1 to acquire the right to do business in the Premises without Party A’s
consent.

	 	8.2	 	Party B can sublease part of the Premises to Party B’s parent company, subsidiaries
and branches with Party A’s written approval and proofs provided by Party B that confirm
the new company is Party B’s parent company, subsidiary or branch. And Party B shall
guarantee the purpose of the Premises is office use only.

	 	8.3	 	If Party A transfer the Premises or part of the Premises, Party A shall clearly
confirm in the transfer contract that the receiver of the Premises shall be responsible
for all the rights and obligations of Party A in this Contract and promote the receiver
to make written commitment to Party B. Party A’s rights and obligations under this
contract are terminated thereafter.

Article 9 Right of Lease Renewal and Lease Priority

	 	9.1	 	Party B shall provide irrevocable application (hereinafter referred to as “Renewal
Application”) to Party A to renew the lease of the Premises in writing 6 months before
the expiration of the lease term (including the first extended term) or the extended
lease term, and both parties shall negotiate the terms and renew the lease contract with
Party A’s consent. If Party B fails to provide application within the time limit or both
parties fail to reach agreement on the leasing terms 3 months after the application, it
shall be taken as Party B’s disclaim of renewing the lease.

Article 10 Obligations

	 	10.1	 	Obligations of Party A

	 	10.1.1	 	Party A shall pay all taxes to government as the owner of the Premises according to laws
and regulations.

	 	10.1.2	 	Party A shall provide the designed rating of the power system of the Premises and assist
Party B in application of the power meter. If Party B requires higher capacity than Party
A’s designed rating, the cost of capacity improvement and other related constructions shall
be liable to Party B.

	 	10.1.3	 	Party A shall provide water supply and drainage system and be liable of the cost of the
construction between such system and the common corridor; Party B shall be liable of the
cost of connecting such system from the common corridor to the Premises. Party A shall
provide the vertical fire
sprinkler and be liable for the cost of such equipment; Party B shall install the
horizontal fire sprinkler according to the plan approved by fire control authorities
and be liable for the related cost, and such equipment shall be approved by fire
control authorities before the Party B’s occupation of the Premises.

	 	 	 
	***	 	- indicates material omitted pursuant to a Confidential Treatment Request and filed separately with the Securities and Exchange Commission

 

5

 

	 	10.1.4	 	Party A shall maintain and instruct the property management company to maintain the main
structure and the good condition of the Premises. Party A shall be responsible to necessary
repairmen.

	 	10.2	 	Obligations of Party B

	 	10.2.1	 	Party B shall maintain the clean and good condition of the interior decoration and all
accessories (belong to Party B) including but not limited to all electric equipments, fire
control equipments, electric wires and plumbing. Party B shall be responsible for the
regular maintenances of the interior decoration and all accessories and the arising costs.

	 	10.2.2	 	All activities of Party B and Party B’s employees in the Premises shall obey the laws,
regulations and policy of the People’s Republic of China.

	 	10.2.3	 	Party B shall allow Party A and along with the future lessee or users to see into the
architecture and equipments of the Premises in reasonable time during
the last 3 months
before the expiration or early termination of the leasing term.

	 	10.2.4	 	Party B shall ensure the usage of the Premises in line with the regulations in Appendix
4.

	 	10.2.5	 	If any structure, construction, separation or other reconstructions built by Party B that
are ordered to be removed by government agency (no matter whether such construction,
separation or other reconstructions are approved by Party A), Party B shall voluntarily be
liable of the cost of such removing work.

	 	10.2.6	 	Party B shall not disturb or allow other party to disturb the users of other premises or
neighboring properties.

	 	10.2.7	 	Party B shall not use or allow other party to use the Premises in any illegal or immoral
purposes.

	 	10.2.8	 	Party B shall voluntarily prepare all necessary official documents (including business
license, approvals or certificates, etc), and Party A is willing to provide reasonable
assistance.

	 	10.2.9	 	Party B shall not carry out or allow other party to carry out any violations against the
land-use right of the Premises.

	 	10.2.10	 	Party B shall provide in advance the budget plan of utilities of the Premises to Party A
for Party A to complete application procedure at the government agency.

	 	10.2.11	 	Party B shall obey the administrative rules made by the property management company.

	 	 	 
	***	 	- indicates material omitted pursuant to a Confidential Treatment Request and filed separately with the Securities and Exchange Commission

 

6

 

Article 11 Exception Clauses

	 	11.1	 	Both parties shall clearly agree in this contract: Party A is not liable for
compensation to Party B or any third party, rent deduction or other legal liabilities under
Force Majeure or other circumstances other than Party A’ fault. Party B shall exempt Party
A from liabilities of damage or losses of Party B or any third party arising there from.

	 	11.2	 	Both parties shall clearly agree in this contract: Party B is not liable for
compensation to Party A or any third party, rent deduction or other legal liabilities under
Force Majeure or other circumstances other than Party B’ fault. Party A shall exempt Party
B from liabilities of damage or losses of Party A or any third party arising there from.

Article 12 Insurance

	 	12.1	 	Party B shall purchase enough insurance against fire, water, third party liability,
business interruption and property insurance from a reputable insurance company for the
decorations, equipments and other properties of the Premises during the use/lease term on
Party B’s expense.

	 	12.2	 	Party B shall provide valid insurance policy and the receipt of the last premium
payment for such insurance when required by the property management company.

Article 13 Termination

	 	13.1	 	Party A and Party B agree to terminate this Contract before the expiration of the
Contract without holding any responsibility to the other party only under any of the
following circumstances:

	 	13.1.1	 	The land-use right of the land occupied by the Premises is recovered ahead of schedule by
law;

	 	13.1.2	 	The Premises are requisitioned lawfully for public interests or urban development;

	 	13.1.3	 	The Premises are ruined, lost or identified unsafe for habitation not due to Party A’s
reason;

	 	13.1.4	 	Force Majeure.

Article 14 Liabilities for Breach of Contract

	 	14.1	 	The rent, property management fees, deposit or other fees payables according to this
Contract is delayed by Party B, without affecting other right of Party A, Party A has right
to claim for defaulted interest from Party B (the defaulted interest shall be calculated
from the day the payment is payable by Party B and with an daily
interest rate of ***%).

	 	 	 
	***	 	- indicates material omitted pursuant to a Confidential Treatment Request and filed separately with the Securities and Exchange Commission

 

7

 

	 	14.2	 	Party B shall clearly agree and state in this Contract: Party A has right to legally
recover the Premises and equipments provided by Party A anytime, this Contract will be
terminated accordingly, and Party B shall make payment equal to the deposit as compensation
to Party A (Both Parties shall take
necessary measurements to reduce loss, and if the actual loss of Party A is reduced, the
compensation liable to Party B will be reduced accordingly) when any of the following
events occurs:

Party B delays the rent, property management fees or deposit without cause over 30
days and fails to make full payment within reasonable period after Party A’s reminder.

	 	14.3	 	The written statement notice of Party A’s exercising the right to recover the Premises
ahead of schedule according to the Contract has been dispatched by Party A to Party B
indicates Party A has fully exercised such right. It is unnecessary for Party A to actually
enter into the Premises to exercise such right.

	 	14.4	 	Under the circumstance that Party B fails to return the Premises after the expiration
of the leasing term or the termination of the Contract, Party B shall pay the overdue
penalty at *** times of the original daily rent each day delayed to Party A; If the
returning is overdue over 15 days, Party A has right to enter the Premises with the
approval of the State supervision authority, and require to put seal on all items belong to
Party B in the Premises, and Party B shall be liable for the costs arising there from.

	 	14.5	 	Any Party breaches this Contract shall be liable for the direct loss caused by the
breach of the Contract of the other party.

Article 15 Other Explanations

	 	15.1	 	Currency

The rent, property management fees and deposit in this Contract are in Renminbi.

	 	15.2	 	Party A has an absolute right to change the design, arrangement and facilities of any
part of the office space (except the Premises leased to Party B).

	 	15.3	 	Party A has the privilege of naming the office space. Party A has right to change the
name of the office space no less than 15 days after notifying Party B, and Party A is not
liable for Party B or any third party.

	 	15.4	 	This Contract is covered by the local law of the area of the office space. Both parties
shall negotiate for any dispute. If the dispute is not solved by negotiation, any Party can
institute legal proceedings to the people’s court that has jurisdiction over the area where
the office located.

	 	15.5	 	The content of the Contract shall be kept confidential strictly by both Parties. Any
Party shall not disclose the content of the Contract to any third party without written
consent of the other party, except required by law or regulation.

	 	15.6	 	This Contract will take effect after signed by both parties. The Contract is terminated
when the rights and obligations of both parties are completed.

	 	 	 
	***	 	- indicates material omitted pursuant to a Confidential Treatment Request and filed separately with the Securities and Exchange Commission

 

8

 

	 	15.7	 	The appendixes of the Contract shall form an integral part of the contract and
shall be as valid and effective as this Contract.

	 	15.8	 	The Contract is made in five copies. Each party shall hold two copies. And the property
management company shall hold one copy.

(Signature Page)

Party A: Shanghai Zhangjiang Micro-electronics Port Co. Ltd.

Legal Representative/Agent:

Party B: Zhengning Information & Technology (Shanghai) Co., Ltd.

Legal Representative/Agent:

	 	 	 
	***	 	- indicates material omitted pursuant to a Confidential Treatment Request and filed separately with the Securities and Exchange Commission

 

9

 

Appendix 1

The Location and Area of the Premises

The Premises is located at Room 301, Building 8, No. 690, Bibo Road, Pudong New Area,
Shanghai, and the actual area of Room 301 is 1,915.93 square meters.

	 	 	 
	***	 	- indicates material omitted pursuant to a Confidential Treatment Request and filed separately with the Securities and Exchange Commission

 

10

 

Appendix 2

The Map of the Premises

(The leased area is shaded green. The map of the Premises shall refer to the final version
approved by real estate administration of Shanghai.)

	 	 	 
	***	 	- indicates material omitted pursuant to a Confidential Treatment Request and filed separately with the Securities and Exchange Commission

 

11

 

Appendix 3

Specifications of Decorations and Facilities

(Delivery Standard)

	I.	 	Construction and Decorations:

	1.	 	All 6 office buildings of the second phase project are frame construction, and the No. 4 and
No.7 buildings are 7-storey high with basement height of 4.2 meters and each of the second to
the seventh floor is 4.2 meters high, and the building No. 5, 6, 8, 9 are 5-storey high with
each floor is 4.35 meters high.

	2.	 	The external wall of the building is constructed with cast in-site reinforced concrete slab
and concrete cellular block. The inner wall is constructed with aerated concrete blocks.

	3.	 	The external wall is decorated with aluminum plastic board curtain walls with the inner
heat-retaining panel as the heat prevention layer of the external wall. The aisles, elevators,
toilets and the decoration of stairway have been completed by the developer. The decoration in
the office area shall be done by the Lessee. The delivery standard includes a fine-gravel
concrete floor, a firmly-processed wall with whitewash and a whitewashed ceiling without hung
ceiling.

	II.	 	Criteria of Designed Load

The designed load of the basement is 3.0kN/m2. The designed load of the floor
with people is 2.0kN/m2, that of the floor without people is 0.5kN/m2, and that of
the rest office space is 3.0kN/m2.

	 	 	 
	***	 	- indicates material omitted pursuant to a Confidential Treatment Request and filed separately with the Securities and Exchange Commission

 

12

 

	III.	 	Facilities Configurations

	1.	 	Electricity Supply

The power source in this area is connecting to two transformer substations of 35 kV each.
Power sources of 220V and 380V are available for the Lessee and the average design supply of
electricity per square meter is 116W (including the air conditioning).

	2.	 	Monitoring and Intellectualization

Five intelligent systems are adopted in this area, including Security Automation System,
Car Parking Management System, Building Equipment Automatic Monitor System, Background Music
Public Broadcasting System and Cable Television System.

	3.	 	Air-conditioning

Multi-linking frequency-converting intelligent central air-conditioning system of Toshiba
is adopted in this building. The outdoor unit is placed on the roof and the ceiling-attached
indoor unit has been installed in the office area.

	4.	 	Water Supply

Water is pumped into toilets and public pantry of each floor with frequency-converting
water pump in the basement. The brand of the sanitary wares is KOHLER.

	5.	 	Communications

	 	(1)	 	There is a telephone line available every 35 square meters and users can choose
between China Telecom and China Netcom.

	 	(2)	 	The internet access provided by China Telecom, China Netcom, Zhangjiang Net and broad
band is available in this area. The current bandwidths available are 512K, 1M or 2M.

	6.	 	Elevators

	 	(1)	 	The elevator of Building 4 adopts the product of Shanghai Yungtay Co., Ltd. Those of
Building 5 to Building 9 are products of Kone Co., Ltd. The elevators are all passenger
elevators without machine room and the load design standard is 1000kg.

	 	(2)	 	There are two elevators in each of the five-storey buildings and three in each of the
seven-storey buildings. Each building has one elevator that can be used for handicapped
peoples.

	IV.	 	Supporting Facilities

There is an underground garage where can park 72 mini-vans and there are 316 parking
spaces on the ground. One parking space for every 200 square meters of the leased house is
provided in principle.

Non-motorized vehicle can be parked in the basement of Building 4 or in the outdoor
non-motorized parking area.

The afforested coverage of the office area is 40.1%.

	 	 	 
	***	 	- indicates material omitted pursuant to a Confidential Treatment Request and filed separately with the Securities and Exchange Commission

 

13

 

Appendix 4

The Purpose the Premises

Party B shall make commitment to Party A that the Premises will be used for providing services
and other office uses according to Party B’s licensed business scope and house and property
management regulations of the People’s Republic of China and Shanghai.

	 	 	 
	***	 	- indicates material omitted pursuant to a Confidential Treatment Request and filed separately with the Securities and Exchange Commission

 

14

 

Appendix 5

The Term and Initial Renewal Term of Lease

The Term of Lease is from June 1st, 2010 to May 31st, 2012, 2 years in
total.

The Initial Renewal Term of Lease is from June 1st, 2012 to May 31st,
2014, 2 years in total.

	 	 	 
	***	 	- indicates material omitted pursuant to a Confidential Treatment Request and filed separately with the Securities and Exchange Commission

 

15

 

Appendix 6

The Rent and Method of Payment

	1.	 	Rent (Calculated on the basis of construction area):

***/day from June 1st, 2010 to May 31st, 2012

As the Initial Renewal Term of Lease is from June 1st, 2012 to May 31st,
2014, the rent will be decided by both parties during December 1st, 2011 to the end
of February of 2012.

	2.	 	Both parties agree that the rent shall be paid in advance by Party B every 3 months; Party B
shall pay the rent for the next quarter before the 25th of the last month of the
current quarter.

	 	 	 
	***	 	- indicates material omitted pursuant to a Confidential Treatment Request and filed separately with the Securities and Exchange Commission

 

16

 

Appendix 7

The Deposit

	1.	 	Party B shall pay a deposit of *** to Party A which is as much as 3 months’ rent; Party B
shall pay a deposit of *** to the property management company which is as much as 3 months’
property management fees.

	2.	 	Term of Deposit Payment

Party B shall pay the deposit of ***to Party A and a deposit of *** to the property
management company before the delivery of the Premises from Party A.

	 	 	 
	***	 	- indicates material omitted pursuant to a Confidential Treatment Request and filed separately with the Securities and Exchange Commission

 

17

 

Appendix 8

The Property Fee

The property fee of the Premises from April 1st, 2010 is calculated on the
basis of construction area at ***/Month. With Party A’s consent, the property fee shall be
calculated from the day when the on-site decorating started. During the term of lease, Party B
shall pay the property fee of the month before the 10th of every month.

	 	 	 
	***	 	- indicates material omitted pursuant to a Confidential Treatment Request and filed separately with the Securities and Exchange Commission

 

18exv4w4

Exhibit 4.4

ENSCO PLC

PRIDE INTERNATIONAL, INC.

and

THE BANK OF NEW YORK MELLON,

as Trustee

Fourth Supplemental Indenture

Dated as of May 31, 2011

to the Indenture

Dated as of July 1, 2004

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 1 AMENDMENT OF THE INDENTURE
	 	 	1	 
	 
	 	 	 	 
	SECTION 1.01 Amendment to Section 1.01 of the Indenture
	 	 	1	 
	SECTION 1.02 Amendment to Section 4.03 of the Indenture
	 	 	3	 
	SECTION 1.03 Amendment to Section 4.08 of the Indenture
	 	 	4	 
	SECTION 1.04 Amendment to Section 4.09 of the Indenture
	 	 	4	 
	SECTION 1.05 Amendment to Section 5.01 of the Indenture
	 	 	5	 
	 
	 	 	 	 
	ARTICLE 2 GUARANTEE
	 	 	6	 
	 
	 	 	 	 
	ARTICLE 3 ENSCO AS A PARTY
	 	 	6	 
	 
	 	 	 	 
	ARTICLE 4 AMENDMENTS TO SECURITIES
	 	 	6	 
	 
	 	 	 	 
	ARTICLE 5 MISCELLANEOUS PROVISIONS
	 	 	6	 
	 
	 	 	 	 
	SECTION 5.01 Relation to the Original Indenture
	 	 	6	 
	SECTION 5.02 Meaning of Terms
	 	 	6	 
	SECTION 5.03 Counterparts of Supplemental Indenture
	 	 	6	 
	SECTION 5.04 USA Patriot Act
	 	 	6	 
	SECTION 5.05 Governing Law
	 	 	6	 
	SECTION 5.06 Severability
	 	 	6	 
	SECTION 5.07 The Trustee
	 	 	7	 

Exhibit A            Form of Guarantee

     This Table of Contents does not constitute part of the Indenture or have any bearing upon the
interpretation of any of its terms and provisions.

i

 

     THIS FOURTH SUPPLEMENTAL INDENTURE, dated as of May 31, 2011 (the “Fourth Supplemental
Indenture”), is between Ensco plc, an English public limited company (“Ensco” or the “Guarantor”),
Pride International, Inc., a Delaware corporation (the “Company”), and The Bank of New York Mellon,
a New York banking corporation (as successor to JPMorgan Chase Bank, N.A.), as trustee (the
“Trustee”) under the Indenture (as defined below).

WITNESSETH:

     WHEREAS, the Company and the Trustee have duly executed and delivered an Indenture, dated as
of July 1, 2004 (as supplemented on June 2, 2009 and on August 6, 2010, the “Indenture”), providing
for the authentication, issuance, delivery and administration of unsecured debentures, notes or
other evidences of indebtedness to be issued in one or more series by the Issuer (the
“Securities”);

     WHEREAS, pursuant to the Agreement and Plan of Merger, dated as of February 6, 2011 (as
amended, the “Merger Agreement”), among Ensco, the Company, ENSCO International Incorporated, a
Delaware corporation and an indirect wholly owned subsidiary of Ensco, and ENSCO Ventures LLC, a
Delaware limited liability company and an indirect wholly owned subsidiary of Ensco (“Merger Sub”),
subject to satisfaction of the conditions stated therein, Merger Sub merged with and into the
Company on May 31, 2011 with the Company surviving as a wholly owned subsidiary of Ensco (the
“Merger”);

     WHEREAS, the Board of Directors of Ensco has determined it to be in the best interest of Ensco
to guarantee all of the Company’s payment obligations under the Securities and the Indenture;

     WHEREAS, the Company and Ensco desire to execute and deliver this Fourth Supplemental
Indenture in order to amend certain terms of the Indenture (collectively, the “Proposed
Amendments”);

     WHEREAS, Section 9.02 of the Indenture expressly permits the Company and the Trustee to enter
into one or more supplemental indentures with the consent of the Holders of at least a majority in
aggregate principle amount of the then outstanding Securities of all series affected thereby (the
“Required Consent”);

     WHEREAS, the Company has obtained the Required Consent;

     WHEREAS, for the purposes hereinabove recited, and pursuant to due corporate action, each of
Ensco and the Company has duly determined to execute and deliver to the Trustee this Fourth
Supplemental Indenture; and

     WHEREAS, all conditions and requirements necessary to make this Fourth Supplemental Indenture
a valid, legal and binding instrument in accordance with its terms have been done and performed,
and the execution and delivery hereof have been in all respects duly authorized;

     NOW, THEREFORE, in consideration of the premises, Ensco, the Company and the Trustee mutually
covenant and agree as follows:

ARTICLE 1

AMENDMENT OF THE INDENTURE

     SECTION 1.01 Amendment to Section 1.01 of the Indenture. Section 1.01 (Definitions)
of the Indenture is hereby supplemented or superseded, in the case of definitional paragraphs that
may be inconsistent, by inserting therein the following definitional paragraphs:

     “Board of Directors” means the Board of Directors or comparable governing body
of the Company or Ensco, as the case may be, or any committee thereof duly
authorized, with respect to any particular matter, to act by or on behalf of the
Board of Directors or comparable governing body of the Company or Ensco, as the case
may be.

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     “Board Resolution” means a copy of a resolution certified by the Secretary or
an Assistant Secretary of the Company or Ensco, as the case may be, to have been
duly adopted by the Board of Directors and to be in full force and effect on the
date of such certification, and delivered to the Trustee.

     “Consolidated Net Tangible Assets” means the total amount of assets (less
applicable reserves and other properly deductible items) after deducting (1) all
current liabilities (excluding the amount of those which are by their terms
extendable or renewable at the option of the obligor to a date more than 12 months
after the date as of which the amount is being determined and current maturities of
long-term debt) and (2) all goodwill, tradenames, trademarks, patents, unamortized
debt discount and expense and other like intangible assets, all as set forth on the
most recent quarterly balance sheet of Ensco and its consolidated subsidiaries and
determined in accordance with GAAP.

     “Ensco” means Ensco plc, an English public limited company.

     “Ensco Guarantee” shall have the meaning given to such term in Section 5.01 of
this Indenture.

     “Joint Venture” means any partnership, corporation or other entity, in which up
to and including 50% of the partnership interests, outstanding voting stock or other
equity interests is owned, directly or indirectly, by Ensco and/or one or more
Subsidiaries. A Joint Venture shall not be a Subsidiary.

     “Lien” means any mortgage, pledge, lien, charge, security interest or similar
encumbrance. For purposes of the Indenture, Ensco or any Subsidiary of Ensco shall
be deemed to own subject to a Lien any asset which it has acquired or holds subject
to the interest of a vendor or lessor under any conditional sale agreement,
Capitalized Lease Obligation or other title retention agreement relating to such
asset.

     “New Parent” shall have the meaning given to such term in Section 5.01 of this
Indenture.

     “Pari Passu Indebtedness” means any Indebtedness of the Company or Ensco,
whether outstanding on the Issue Date of the Notes or thereafter created, incurred,
guaranteed or assumed, unless, in the case of any particular Indebtedness, the
instrument creating or evidencing the same or pursuant to which the same is
outstanding expressly provides that such Indebtedness shall be subordinated in right
of payment to the Notes.

     “Permitted Lien” means (i) Liens existing on the date of the Fourth
Supplemental Indenture; (ii) Liens on property or assets of, or any shares of stock
of, or other equity interests in, or indebtedness of, any Person existing at the
time such Person becomes a Subsidiary of Ensco or at the time such Person is merged
into or consolidated with Ensco or any of its Subsidiaries or at the time of a sale,
lease or other disposition of the properties of a Person (or a division thereof) as
an entirety or substantially as an entirety to Ensco or a Subsidiary; (iii) Liens in
favor of Ensco or any of its Subsidiaries; (iv) Liens in favor of governmental
bodies to secure progress or advance payments; (v) Liens securing industrial
revenue, pollution control or other revenue bonds; (vi) Liens on assets existing at
the time of acquisition thereof, securing all or any portion of the cost of
acquiring, constructing, improving, developing, expanding or repairing such assets
or securing Indebtedness incurred prior to, at the time of, or within 24 months
after, the later of the acquisition, the completion of construction, improvement,
development, expansion or repair or the commencement of commercial operation of such
assets, for the purpose of (a) financing all or any part of the purchase price of
such assets or (b) financing all or any part of the cost of construction,
improvement, development, expansion or repair of any such assets; (vii) statutory
liens or landlords’, carriers’, warehouseman’s, mechanics,’ suppliers,’
materialmen’s, repairmen’s or other like Liens arising in the ordinary course of
business and with respect to amounts not yet

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delinquent or being contested in good faith by appropriate proceedings; (viii)
Liens in connection with legal proceedings or securing tax assessments; (ix) Liens
on the stock, partnership or other equity interest of Ensco or any Subsidiary in any
Joint Venture or any Subsidiary that owns an equity interest in such Joint Venture
to secure Indebtedness, provided the amount of such Indebtedness is contributed
and/or advanced solely to such Joint Venture; and (x) any extensions, substitutions,
replacements or renewals in whole or in part of a Lien enumerated in clauses (i)
through (ix) above.

     “Principal Property” means any drilling rig or drillship, or integral portion
thereof, owned or leased by Ensco or any Subsidiary and used for drilling offshore
oil and gas wells, which, in the opinion of the board of directors of Ensco, is of
material importance to the business of Ensco and its Subsidiaries taken as a whole,
but no such drilling rig or drillship, or portion thereof, shall be deemed of
material importance if its net book value (after deducting accumulated depreciation)
is less than 2% of Consolidated Net Tangible Assets.

     “Sale/Leaseback Transaction” means any arrangement with any Person pursuant to
which Ensco or any Subsidiary leases any Principal Property that has been or is to
be sold or transferred by Ensco or the Subsidiary to such Person, other than (1)
temporary leases for a term, including renewals at the option of the lessee, of not
more than five years; (2) leases between Ensco and a Subsidiary or between
Subsidiaries; and (3) leases of Principal Property executed by the time of, or
within 12 months after the latest of, the acquisition, the completion of
construction, alteration, improvement or repair, or the commencement of commercial
operation of the Principal Property.

     “Subsidiary” means a Person at least a majority of the outstanding voting stock
of which is owned, directly or indirectly, by Ensco or by one or more other
Subsidiaries, or by Ensco and one or more other Subsidiaries. For the purposes of
this definition, “voting stock” means stock that ordinarily has voting power for the
election of directors, whether at all times or only so long as no senior class of
stock has such voting power by reason of any contingency. A Joint Venture shall not
be a Subsidiary.

     “Successor” shall have the meaning given to such term in Section 5.01 of this
Indenture.

     SECTION 1.02 Amendment to Section 4.03 of the Indenture. Section 4.03 (SEC Reports;
Financial Statements) of the Indenture is hereby amended and replaced in its entirety by the
following text:

SECTION 4.03 SEC Reports; Financial Statements.

     (a) If Ensco is subject to Section 13 or 15(d) of the Exchange Act, Ensco shall
file with the Trustee, within 15 days after it files the same with the SEC, copies
of the annual reports and the information, documents and other reports (or copies of
such portions of any of the foregoing as the SEC may by rules and regulations
prescribe) that Ensco is required to file with the SEC pursuant to Section 13 or
15(d) of the Exchange Act. If this Indenture is qualified under the TIA, but not
otherwise, Ensco shall also comply with the provisions of TIA Section 314(a).

     (b) If Ensco is not subject to the requirements of Section 13 or 15(d) of the
Exchange Act, Ensco shall furnish to all Holders of Rule 144A Securities and
prospective purchasers of Rule 144A Securities designated by the Holders of Rule
144A Securities, promptly upon their request, the information required to be
delivered pursuant to Rule 144A(d)(4) promulgated under the Securities Act of 1933,
as amended.

     (c) Ensco intends to file the reports, information and documents referred to in
Section 4.03(a) hereof with the SEC in electronic form pursuant to Regulation S-T
promulgated by the SEC using the SEC’s Electronic Data Gathering, Analysis and
Retrieval (“EDGAR”) system. Ensco shall notify the Trustee in the manner prescribed
herein of each such filing. The Trustee is hereby authorized and directed to access
the EDGAR system for purposes of retrieving the reports

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so filed. Compliance with the foregoing shall constitute delivery by Ensco of
such reports to the Trustee in compliance with the provisions of TIA Section 314(a).
The Trustee shall have no duty to search for or obtain any electronic or other
filings that Ensco makes with the SEC, regardless of whether such filings are
periodic, supplemental or otherwise. Delivery of the reports, information and
documents to the Trustee pursuant to this Section 4.03 shall be solely for the
purposes of compliance with this Section 4.03 and with TIA Section 314(a). The
Trustee’s receipt of such reports, information and documents shall not constitute
notice to it of the content thereof or of any matter determinable from the content
thereof, including Ensco’s compliance with any of its covenants hereunder, as to
which the Trustee is entitled to rely upon Officers’ Certificates.

     SECTION 1.03 Amendment to Section 4.08 of the Indenture. Section 4.08 (Limitation on
Liens) of the Indenture is hereby amended and replaced in its entirety by the following text:

SECTION 4.08 Limitation on Liens

     Ensco shall not, and shall not permit any of its Subsidiaries to, issue, assume
or guarantee any Indebtedness for borrowed money secured by any Lien upon any
Principal Property or any shares of stock or Indebtedness of any Subsidiary that
owns or leases a Principal Property (whether such Principal Property, shares of
stock or Indebtedness are now owned or hereafter acquired) without making effective
provision whereby the Notes (together with, if Ensco shall so determine, any other
Indebtedness or other obligation of Ensco or any Subsidiary) shall be secured
equally and ratably with (or, at the option of Ensco, prior to) the Indebtedness so
secured for so long as such Indebtedness is so secured. The foregoing restrictions
will not, however, apply to Indebtedness secured by Permitted Liens.

     Notwithstanding the foregoing, Ensco and its Subsidiaries may, without securing
the Notes, issue, assume or guarantee Indebtedness that would otherwise be subject
to the foregoing restrictions in an aggregate principal amount that, together with
all other such Indebtedness of Ensco and its Subsidiaries that would otherwise be
subject to the foregoing restrictions (not including Indebtedness permitted to be
secured under the definition of Permitted Liens) and the aggregate amount of
Attributable Indebtedness deemed outstanding with respect to Sale/Leaseback
Transactions (other than Sale/Leaseback Transactions in connection with which Ensco
has voluntarily retired any of the Securities, any Pari Passu Indebtedness or any
Funded Indebtedness pursuant to Section 4.09(c)) does not at any one time exceed 15%
of Consolidated Net Tangible Assets.

     SECTION 1.04 Amendment to Section 4.09 of the Indenture. Section 4.09 (Limitation on
Sale/Leaseback Transactions) of the Indenture is hereby amended and replaced in its entirety by the
following text:

SECTION 4.09 Limitation on Sale/Leaseback Transactions

     Ensco shall not, and shall not permit any Subsidiary to, enter into any
Sale/Leaseback Transaction with any Person (other than Ensco or a Subsidiary)
unless:

     (a) Ensco or such Subsidiary would be entitled to incur Indebtedness in a
principal amount equal to the Attributable Indebtedness with respect to such
Sale/Leaseback Transaction secured by a Lien on the property subject to such
Sale/Leaseback Transaction pursuant to Section 4.08 without equally and ratably
securing the Notes, pursuant to Section 4.08;

     (b) after the date of the Fourth Supplemental Indenture and within a period
commencing nine months prior to the consummation of such Sale/Leaseback Transaction
and ending nine months after such consummation, Ensco or any Subsidiaries shall have
expended for property used or to be used in the ordinary course of business of Ensco
and its Subsidiaries an amount equal to all or a portion of the net proceeds of such
Sale/Leaseback Transaction and Ensco shall have elected to designate such amount as
a credit against such Sale/Leaseback Transaction

4

 

(with any such amount not being so designated to be applied as set forth in
clause (c) below or as otherwise permitted); or

     (c) Ensco, during the nine-month period after the effective date of such
Sale/Leaseback Transaction, shall have applied to the voluntary defeasance or
retirement of any Securities, any Pari Passu Indebtedness or any Funded Indebtedness
an amount equal to the greater of the net proceeds of the sale or transfer of the
property leased in such Sale/Leaseback Transaction and the fair value, as determined
by the Board of Directors of Ensco and evidenced by a Board Resolution, of such
property at the time of entering into such Sale/Leaseback Transaction (in either
case adjusted to reflect the remaining term of the lease and any amount expended by
the Company as set forth in clause (b) above).

     SECTION 1.05 Amendment to Section 5.01 of the Indenture. Section 5.01 (Limitations on
Mergers and Consolidations) of the Indenture is hereby amended and replaced in its entirety by the
following text:

Section 5.01. Limitations on Mergers and Consolidations

     (a) Notwithstanding anything to the contrary set forth in this Indenture, from
and after the receipt by the Trustee of an unconditional and irrevocable guarantee
of the prompt payment, when due, of any amount owed to the holders of the Securities
under this Indenture and any other amounts due pursuant to this Indenture by Ensco
or any of its successors (the “Ensco Guarantee”), nothing in this Indenture or in
any of the Securities or any supplemental indenture shall be deemed to prohibit or
in any way limit any transaction (or conversion of legal status to a limited
liability company) involving the Company, including without limitation any
consolidation, merger, sale or conveyance of property or assets. At any time, Ensco
or any of its successors, may succeed to and be substituted for the Company by
supplemental indenture, with the same effect as if it had been named herein as the
Company, and the Company shall thereupon be released from all obligations under the
Indenture and under the Securities.

     (b) Nothing contained in this Indenture shall prevent any consolidation or
merger of Ensco with or into any other Person or Persons (whether or not affiliated
with Ensco), or successive consolidations or mergers in which Ensco or its successor
shall be a party or parties, or shall prevent any conveyance or transfer of all or
substantially all of the assets of Ensco to any other Person (whether or not
affiliated with Ensco) lawfully entitled to acquire the same; provided that (i) such
Person (the “Successor”) or the Person who beneficially owns all or substantially
all of the voting shares of each class of capital stock issued and outstanding at
such time of Ensco or such Successor (the “New Parent”) shall be organized and
validly existing under the laws of the United States of America, any political
subdivision thereof or any State thereof or the District of Columbia, the Bahamas,
Barbados, Bermuda, the British Virgin Islands, the Cayman Islands, any of the
Channel Islands, Ireland, France, the Kingdom of the Netherlands or any other member
of the European Union, Switzerland or the Netherlands Antilles, (ii) the Successor
or the New Parent shall agree in writing to submit to jurisdiction to the competent
courts of the State of New York or the federal district court sitting in The City of
New York and appoints an agent in the State of New York for the service of process,
each under terms satisfactory to the Trustee; (iii) the Successor or the New Parent
expressly assumes or guarantees by supplemental indenture, in form reasonably
satisfactory to the Trustee, executed and delivered to the Trustee by the Successor
or the New Parent, as the case may be, the due and punctual performance and
observance of all of the covenants and conditions of the Ensco Guarantee to be
performed by Ensco and any obligations of Ensco under this Indenture; (iv) the Board
of Directors of Ensco or the comparable governing body of the Successor or the New
Parent, as applicable, determines in good faith that such transaction or series of
transactions will not adversely affect the interest of the Holders of Securities in
any material respect, which determination shall be evidenced by a Board Resolution
(or its equivalent if such Person is not a corporation) to such effect; and (v) the
Successor or the New Parent delivers to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that the transaction and such supplemental
indenture comply with this Indenture.

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ARTICLE 2

GUARANTEE

     SECTION 2.01 Parent Guarantee. Ensco hereby makes the guarantee contained in the form attached
to Appendix A hereto with respect to the obligations and liabilities of the Company under the
Securities and the Indenture. For the avoidance of doubt, Appendix A is incorporated into this
Supplemental Indenture in its entirety and forms a part hereof.

ARTICLE 3

ENSCO AS A PARTY

     SECTION 3.01 Ensco as a Party. Ensco hereby becomes a party to the Indenture solely with
respect to its obligations under (i) Sections 4.03, 4.08, 4.09 and 5.01 of the Indenture and (ii)
Section 2 of the Fourth Supplemental Indenture.

ARTICLE 4

AMENDMENTS TO SECURITIES

     SECTION 4.01 Amendments to Securities. The Securities are hereby deemed to be amended, mutatis
mutandis, to correspond to the amendments to the Indenture set forth in this Fourth Supplemental
Indenture.

ARTICLE 5

MISCELLANEOUS PROVISIONS

     SECTION 5.01 Relation to the Indenture. The provisions of this Fourth Supplemental Indenture
shall become effective immediately upon the execution and delivery hereof. This Fourth Supplemental
Indenture and all the terms and provisions herein contained shall form a part of the Indenture as
fully and with the same effect as if all such terms and provisions had been set forth in the
Indenture; provided, however, such terms and provisions shall be so included in this Fourth
Supplemental Indenture solely for the benefit of the Guarantor, the Company, the Trustee and the
Holders of the Notes. The Indenture and all supplements thereto are hereby ratified and confirmed
and shall remain and continue in full force and effect in accordance with the terms and provisions
thereof, as supplemented by this Fourth Supplemental Indenture, and this Fourth Supplemental
Indenture shall be deemed a part of the Original Indenture in the manner and to the extent herein
and therein provided.

     SECTION 5.02 Meaning of Terms. Any term used in this Fourth Supplemental Indenture which is
defined in the Indenture shall have the meaning specified in the Indenture, unless the context
shall otherwise require.

     SECTION 5.03 Counterparts of Supplemental Indenture. This Fourth Supplemental Indenture may be
executed in several counterparts, each of which shall be deemed an original, but all of which
together shall constitute one instrument.

     SECTION 5.04 USA Patriot Act. The Company acknowledges that, in accordance with Section 326 of
the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (as amended,
modified or supplemented from time to time, the “USA Patriot Act”), the Trustee, like all financial
institutions, is required to obtain, verify, and record information that identifies each person or
legal entity that opens an account. The Company agrees that it will provide the Trustee with such
information as the Trustee may request in order for the Trustee to satisfy the requirements of the
USA Patriot Act.

     SECTION 5.05 Governing Law. This Fourth Supplemental Indenture shall be governed by and
construed in accordance with the internal laws of the State of New York, except to the extent the
laws of the State of New York require the application of the laws of another jurisdiction.

     SECTION 5.06 Severability. In case any provision in this Fourth Supplemental Indenture or in
the Securities, as amended hereby, shall be invalid, illegal or unenforceable, the validity,
legality and enforceability of

6

 

the remaining provisions shall, to the fullest extent permitted by applicable law, not in any
way be affected or impaired thereby.

     SECTION 5.07 The Trustee The recitals and statements contained in this Fourth Supplemental
Indenture shall be taken as the recitals and statements of the Company, and the Trustee assumes no
responsibility for the correctness of the same. The Trustee makes no representations as to the
validity or sufficiency of this Fourth Supplemental Indenture, except that the Trustee is duly
authorized by all necessary corporate actions to execute and deliver this Fourth Supplemental
Indenture.

[SIGNATURES ON NEXT PAGE]

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     IN WITNESS WHEREOF, each of Ensco plc and Pride International, Inc. has caused this Fourth Supplemental Indenture to be executed in its corporate name by a duly authorized officer, and The Bank of New York Mellon has caused this Fourth Supplemental Indenture to be executed by a duly authorized officer, all as of the date first above written.

	 	 	 	 	 
	 	ENSCO PLC

 	 
	 	By:  	/s/ James W. Swent III
 	 
	 	 	James W. Swent III 	 
	 	 	Senior Vice President - Chief Financial Officer
	 
	 
	 	PRIDE INTERNATIONAL, INC.

 	 
	 	By:  	/s/  Tom L. Rhoades
 	 
	 	 	Tom L. Rhoades 	 
	 	 	Vice President and Treasurer 	 
	 
	 	THE BANK OF NEW YORK MELLON,

as Trustee

 	 
	 	By:  	/s/ Laurence J. O’Brien
 	 
	 	 	Name:  	Laurence J. O’Brien 	 
	 	 	Title:  	Vice President 	 

8

 

	 	 	 	 	 

Exhibit A

FORM OF PARENT GUARANTEE

     GUARANTEE, dated as of [•], 2011, by Ensco plc, an English public limited company (the
“Guarantor”), in respect of Pride International, Inc, a Delaware corporation (together with
its permitted assigns, “Pride”).

     1. Guarantee. With respect to the 8.500% Senior Notes due 2019; 6.875% Senior Notes
due 2020; and 7.875% Senior Notes due 2040 (collectively called the “Notes”), all issued by
Pride pursuant to an indenture dated July 1, 2004 (the “Indenture”), by and among Pride and
The Bank of New York Mellon, as successor to JPMorgan Chase Bank, N.A., as trustee
(“Trustee”), the Guarantor unconditionally and irrevocably guarantees the prompt payment,
when due, of any amount owed to the holders of the Notes under the Indenture and any other amounts
due pursuant to the Indenture (the “Obligations”).

     2. Nature of Guarantee. The Guarantor’s obligations hereunder shall not be affected by
any circumstance relating to the Obligations that might otherwise constitute a legal or equitable
discharge of or defense to the Guarantor. The Guarantor agrees that Trustee or the holders of the
Notes may resort to the Guarantor for payment of any of the Obligations whether or not Trustee or
the holders of the Notes shall have first proceeded against Pride or any other obligor principally
or secondarily obligated with respect to the Obligations. Trustee or the holders of the Notes shall
not be obligated to file any claim relating to the Obligations in the event that Pride becomes
subject to a bankruptcy, reorganization or similar proceeding, and the failure of Trustee or the
holders of the Notes to so file shall not affect the Guarantor’s obligations hereunder. In the
event that any payment to Trustee or the holders of the Notes in respect of the Obligations is
rescinded or must otherwise be returned for any reason whatsoever, the Guarantor shall remain
liable hereunder with respect to such Obligations as if such payment had not been made.

     3. Changes in Obligations, and Agreements Relating thereto; Waiver of Certain Notices.
The Guarantor agrees that Trustee or the holders of the Notes may at any time and from time to
time, either before or after the maturity thereof, without notice to or further consent of the
Guarantor, extend the time of payment of, or renew all or any part of the Obligations, and may also
make any agreement with Pride for the extension, renewal, payment, compromise, discharge or release
thereof, in whole or in part, or for any modification of the terms thereof or of any agreement
between Trustee or the holders of the Notes and Pride, without in any way impairing or affecting
this Guarantee. The Guarantor waives notice of the acceptance of this Guarantee and of the
Obligations, presentment, demand for payment, notice of dishonor and protest.

     4. Expenses. The Guarantor agrees to pay on demand all reasonable fees and
out-of-pocket expenses (including the reasonable fees and expenses of one firm of counsel
representing Trustee or the holders of the Notes) in any way relating to the enforcement or
protection of the rights of Trustee or the holders of the Notes hereunder, provided that the
Guarantor shall not be liable for any expenses of Trustee or the holders of the Notes if no payment
under this Guarantee is due.

     5. Subrogation. Upon payment of the Obligations to Trustee or the holders of the Notes
in full, the Guarantor shall be subrogated to the rights of Trustee or the holders of the Notes
against Pride with respect to the Obligations, and Trustee or the holders of the Notes agrees to
take at the Guarantor’s expense such steps as the Guarantor may reasonably request to implement
such subrogation.

     6. No Waiver; Cumulative Rights. No failure on the part of Trustee or the holders of
the Notes to exercise, and no delay in exercising, any right, remedy or power hereunder shall
operate as a waiver thereof, nor shall any single or partial exercise by Trustee or the holders of
the Notes of any right, remedy or power hereunder preclude any other or further exercise of any
right, remedy or power. Each and every right, remedy and power hereby granted to Trustee and the
holders of the Notes or allowed it or them by law or in equity or other agreement shall be
cumulative and not exclusive of any other, and may be exercised by Trustee or the holders of the
Notes at any time or from time to time.

A-1

 

     7. Assignment. Nothing contained in this Guarantee shall prevent any consolidation or
merger of Guarantor with or into any other Person (whether or not affiliated with the Guarantor),
or successive consolidations or mergers in which Guarantor or its successor shall be a party or
parties, or shall prevent any conveyance or transfer of the properties and assets of Guarantor as
an entirety or substantially as an entirety to any other Person (whether or not affiliated with
Guarantor) lawfully entitled to acquire the same; provided, however, that upon any such
consolidation, merger, conveyance or transfer, the due and punctual performance and observance of
all of the covenants and conditions of the Guarantee to be performed by Guarantor, shall be
expressly assumed, in form reasonably satisfactory to the Trustee, executed and delivered to the
Trustee by the Person (if other than the Guarantor) formed by such consolidation, or into which
Guarantor shall have been merged, or by the Person which shall have acquired such properties and
assets.

     8. Notices. Any notice or communication to the Guarantor is duly given if in writing
and delivered in person or mailed by first-class mail (registered or certified, return receipt
requested), telex, facsimile or overnight air courier guaranteeing next day delivery, to the
following address:

Ensco plc

Chief Financial Officer

6 Chesterfield Gardens

London, England W1J 5BQ

Tel: +44 (0) 20 7659 4660

The Guarantor by notice to the Trustee may designate additional or different addresses for
subsequent notices or communications.

     9. Continuing Guarantee. This Guarantee shall remain in full force and effect and
shall be binding on the Guarantor, its successors and assigns until all of the Obligations have
been satisfied in full.

     10. Representations and Warranties. The Guarantor represents and warrants that: (i)
this Guarantee has been duly executed and delivered by the Guarantor and constitutes a valid and
legally binding obligation of the Guarantor enforceable in accordance with its terms, except as
such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar
laws affecting creditors’ rights generally and subject to general principles of equity, (ii) no
consent or approval of any Person, entity or governmental or regulatory authority, or of any
securities exchange or self-regulatory organization, was or is necessary in connection with this
Guarantee and (iii) the execution and delivery of this Guarantee by the Guarantor and the
performance by the Guarantor of its obligations hereunder do not violate or conflict with any law
applicable to it, any provision of its constitutive documents, any order or judgment of any court
or other agency of government applicable to it or any of its assets or any contractual provision
binding on or affecting it or any of its assets, in any manner that could reasonably be expected to
impair its ability to perform its obligations hereunder.

     11. Governing Law. This Guarantee shall be governed by and construed in accordance
with the laws of the State of New York without regard to principles of conflicts of laws.

     IN WITNESS WHEREOF, this Guarantee has been duly executed and delivered by the Guarantor as of
the date first above written.

	 	 	 	 	 

	EXECUTED

	 	 	)	 
	ENSCO PLC

	 	 	)	 

	 	 	 	 	 
	 	
 	 
	 	Director 	 
	 	
 	 
	 	Director / Secretary 	 
	 	 	 
	 

A-2

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