Document:

exv10w25

Exhibit 10.25

CONFIDENTIAL TREATMENT REQUESTED

License Agreement

This License Agreement (“Agreement”) is made and entered into as of November 4, 2007, by and
between Dainippon Sumitomo Pharma Co., Ltd., a corporation having its registered office at 6-8,
Doshomachi 2-chome, Chuo-ku, Osaka 541-0045, Japan (“DSP”), and Alimera Sciences, Inc., a
corporation having its registered office at 6120 Windward Parkway, Suite 290, Alpharetta, GA 30005,
USA (“Alimera”), to confirm the mutual agreement of the parties with respect to certain patent
rights as set forth below.

DSP owns the patents listed in Exhibit A attached hereto and incorporated herein by this reference
(the “Patent Rights”) in the USA and other countries, jointly with a third party (the “Joint
Owner”), and pursuant to the agreement between DSP and the Joint Owner, DSP is entitled to exercise
and license the Patent Rights on an exclusive basis.

Alimera has been developing an ophthalmic product, as described in Exhibit B attached hereto and
incorporated herein by this reference (the “Licensed Product”), for treatment of diabetic macular
edema, and desires to develop and market the Licensed Product without risk of infringement action
on the Patent Rights.

Alimera proposed, and DSP accepted, that DSP would grant Alimera a license and option on the Patent
Rights.

DSP and Alimera hereby agree as follows:

	1)	 	DSP hereby grants Alimera a worldwide, fully paid up, royalty free, non-exclusive and
transferable license, with the right to sublicense, under the Patent Rights to research,
develop, manufacture, make, have made, use, market, offer to sell, sell, import and otherwise
exploit Licensed Product in the field of ophthalmology (the “Initial License”), provided that
(i) Alimera shall not grant any sublicense under, nor transfer, the Initial License without
giving a prior written notice to DSP, (ii) Alimera may grant a sublicense under, or transfer,
the Initial License to an entity if and to the
extent Alimera grants such entity the right to research, develop, manufacture, make, have
made, use, market, offer to sell, sell, import or

License Agreement

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CONFIDENTIAL TREATMENT REQUESTED

	 	 	otherwise exploit the Licensed Product, and (iii) DSP shall have no obligation to disclose or
provide any information on its technology and/or know-how on manufacturing of [*] to Alimera,
other than the information already disclosed by DSP to Alimera under the Non-Disclosure
Agreement dated September 13, 2006 (the “Non-Disclosure Agreement”), until the Expanded
License (as defined in Paragraph 3) below) is granted by DSP to Alimera under Paragraph 3).
	 
	2)	 	Nothing herein shall be construed as an admission by Alimera, whether direct or indirect,
immediate or remote: a) that there has been direct or contributory infringement of, or
inducement to infringe, the Patent Rights, or b) that the Patent Rights are valid or
enforceable.
	 
	3)	 	In addition, DSP hereby grants to Alimera, and Alimera hereby accepts, an option (the
“Option”) to be granted a worldwide, non-exclusive and transferable license, with the right to
sublicense, under the Patent Rights and DSP’s relevant know-how to research, develop,
manufacture, make, have made, use, market, offer to sell, sell, import and otherwise exploit
any invention covered by the Patent Rights and DSP’s relevant know-how in the field of
ophthalmology (the “Expanded License”). Alimera may exercise the Option at any time during
the period of this Agreement by giving a written notice to DSP, provided that both parties
shall discuss in good faith the terms and conditions of the Expanded License and a separate
license agreement containing agreed upon terms and conditions shall be concluded between the
parties.
	 
	4)	 	In full consideration of DSP’s agreement set forth in Paragraph 1) above and DSP’s grant of
the Option set forth in Paragraph 3) above, Alimera shall pay four hundred thousand United
States Dollars (US$400,000) to DSP in two installments as set forth below. Alimera shall,
within [*] days after each of (i) the execution of this Agreement and (ii) first regulatory
approval for the Licensed Product in the USA by the U.S. Food and Drug Administration
authorizing the marketing and sale of the Licensed Product in the USA, make a payment in the
amount of two hundred thousand United States Dollars (US$200,000) to DSP. The payments shall
be non-refundable and shall be made in United States Dollars by telegraphic

 

			
	*	 	Certain information has been omitted and filed separately with the Commission.
Confidential treatment has been requested with respect to the omitted
portions.

License Agreement

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CONFIDENTIAL TREATMENT REQUESTED

	 	 	transfer to the bank account designated by DSP in writing. It is understood that the
payments do not include any consideration to DSP for the Expanded License. In case Alimera
fails to make any of the payments required hereunder by the due date, DSP will charge Alimera
overdue interest at the lower of (i) interest accruing on any such unpaid balance at the
average year-to-date rate London Inter-Bank Offering Rate (LIBOR) in effect from time to time
plus [*] percent ([*]) per annum or (ii) the highest rate allowable under applicable law.
	 
	5)	 	Alimera and DSP agree that all amounts payable under this Agreement shall be treated as
“royalties” within the meaning of Article 12 of the Convention between the Government of the
United States of America and the Government of Japan for the Avoidance of Double Taxation and
the Prevention of Fiscal Evasion with Respect to Taxes on Income (the “Treaty”). Any taxes
imposed on DSP and required to be paid or withheld on account of amounts payable to DSP under
this Agreement, if any, shall be deducted at the rates specified by applicable law from the
amount due hereunder. Alimera shall provide DSP with documentation necessary to receive
benefits of a tax treaty, if any. In addition, Alimera shall provide promptly to DSP receipts
from the relevant government taxing authority evidencing payment of such tax. DSP hereby
represents that (a) it is a resident of Japan within the meaning of Article 4 of the Treaty,
(b) it is entitled to claim benefits under the Treaty, and (c) the amounts payable under this
Agreement are not attributable to a permanent establishment of DSP in the United States of
America within the meaning of Article 12(3) of the Treaty. DSP will deliver to Alimera
without unreasonable delay after the signing of this Agreement a duly completed and signed
Internal Revenue Service Form W-8BEN (attached hereto as Exhibit C) claiming a zero percent
(0%) withholding rate under Article 12 of the Treaty on the amounts payable under this
Agreement.
	 
	6)	 	DSP warrants that a) it has the exclusive right to enter into this Agreement, including
the grant of the releases, license and option herein; b) there are no liens, conveyances,
mortgages, assignments, encumbrances or other agreements or obligations that would prevent or
impair the full and complete privileges granted pursuant to the full terms and conditions of
this

 

			
	*	 	Certain information has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions.

License Agreement

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CONFIDENTIAL TREATMENT REQUESTED

	 	 	Agreement and c) it has not entered into, and shall not enter into, any other agreements that
would interfere with the rights and immunities granted herein by DSP.
	 
	 	 	EXCEPT AS OTHERWISE PROVIDED HEREIN OR, IF APPLICABLE, IN THE SEPARATE LICENSE AGREEMENT FOR
THE EXPANDED LICENSE, DSP MAKES NO REPRESENTATIONS OR WARRANTIES, EITHER EXPRESS OR IMPLIED,
AS TO THE PATENT RIGHTS (INCLUDING WITHOUT LIMITATION ANY IMPLIED WARRANTY OF MERCHANTABILITY
OR FITNESS FOR A PARTICULAR PURPOSE) OR THAT RESEARCH, DEVELOPMENT, MANUFACTURE, MARKETING,
DISTRIBUTION, USE OR SALE OF THE LICENSED PRODUCT AND ANY OTHER PRODUCTS WILL NOT INFRINGE
ANY PATENT RIGHTS, COPYRIGHT OR OTHER RIGHT OF ANY THIRD PARTY, OF ANY KIND OR NATURE
WHATSOEVER.
	 
	7)	 	DSP shall indemnify, defend and hold Alimera and any sublicensees and transferees of Alimera
(the “Indemnified Parties”) harmless from and against any and all liabilities, damages, losses
and costs and expenses, including, without limitation, reasonable attorneys’ fees and costs,
which the Indemnified Parties may incur as a result of third party claims, demands, actions,
suits or proceedings that arise from or relate to a breach by DSP of its representations and
warranties hereunder. Alimera shall indemnify, defend and hold DSP harmless from and against
any and all liabilities, damages, losses and costs and expenses, including, without
limitation, reasonable attorneys’ fees and costs, which DSP may incur as a result of third
party claims, demands, actions, suits or proceedings that arise from or relate to Alimera’s
research, development, manufacturing, marketing, distribution, use and/or sale of the Licensed
Product, including, without limitation, any liabilities, losses or damages whatsoever with
respect to death or injury to any individual or damage to any tangible property arising from
the possession, use or operation of the Licensed Product by Alimera or any third party in any
manner whatsoever, or with respect to any injury or damage caused by any product defect or
negligence relating to the manufacture of the Licensed Product. The indemnifying party’s
obligations hereunder are conditioned on a) the party seeking
indemnification providing prompt written notice thereof and reasonable

License Agreement

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CONFIDENTIAL TREATMENT REQUESTED

	 	 	cooperation,
information, and assistance in connection therewith and b) it having sole control and
authority to defend, settle or compromise such claim, provided that any settlement of a claim
that does not contain an unconditional release of the party seeking indemnification will
require the prior written consent of such party. The indemnifying party shall not be
responsible for any settlement it does not approve in writing.
	 
	8)	 	This Agreement takes effect on the date first set forth above and shall continue in effect on
a country-by-country basis until the expiration of the last to expire patent in each country.
	 
	9)	 	In the event that either party materially fails to fulfill or breaches the terms and
conditions hereof, the other party shall give the defaulting party a written notice to remedy
such material failure or breach within [*] ([*]) days. In case such material failure or
breach is not remedied by the defaulting party within [*] ([*]) days after receipt of such
notice, the complaining party may terminate this Agreement at its option upon written notice
to the defaulting party. For the sake of clarity, in the case of Alimera as the defaulting
party, this Paragraph shall apply only to Alimera’s material failure to fulfill, or Alimera’s
material breach of, (a) its obligations under Paragraph 1) (i) and (ii) of this Agreement, (b)
its payment obligations under Paragraph 4) of this Agreement, and (c) its obligations under
the Non-Disclosure Agreement.
	 
	10)	 	In the event that Alimera contests the validity of the Patent Rights by itself or through any
of its affiliates or any third party, DSP may at its discretion terminate this Agreement upon
written notice to Alimera. For the purpose of this Paragraph 10), “affiliate” means an entity
organized under the laws of a jurisdiction that controls, is controlled by or is under common
control with Alimera for so long as such control exists. For the purpose of this Paragraph
10), “control” means the decision-making authority as to such entity, through ownership of
equity, membership interests or contract.
	 
	11)	 	In the event of termination of this Agreement by DSP pursuant to Paragraph 9) or 10)
above, the payments in Paragraph 2) which have not been made at the time of the termination
shall become due and payable

 

			
	*	 	Certain information has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions.

License Agreement

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CONFIDENTIAL TREATMENT REQUESTED

	 	 	immediately upon the termination.
	 
	12)	 	Each party shall maintain in confidence, and shall not disclose to any third party, the
existence and any terms and conditions of this Agreement (“Information”), except that each
party may disclose the Information;

	 	a)	 	to its existing and prospective investors,
	 
	 	b)	 	as required by a legally enforceable order or direction or other applicable law
or regulation or to enforce this Agreement,
	 
	 	c)	 	to the Internal Revenue Service or foreign equivalent,
	 
	 	d)	 	to its attorneys, accountants or financial advisors,
	 
	 	e)	 	as needed in any filings required by the United States Securities and Exchange
Commission, other governmental authority or securities exchange,
	 
	 	f)	 	to the extent the existence or any terms and conditions of this Agreement become
publicly known without breach of this Agreement or
	 
	 	g)	 	as approved in writing by the other party (such approval not to be unreasonably
withheld);
	 
	 	provided that the Information may be disclosed, i) to those who have such obligations of
confidentiality substantially similar to those provided for herein in the event of a) and d)
above, and ii) subject to a reasonable prior written notice to the other party in the event
of b), c) and e) above.
	 
	 	In addition, Alimera may disclose the Information to a prospective sublicensee, development
and/or commercialization partner or acquirer, and DSP may disclose the Information to the
Joint Owner and the company acting for and on behalf of the Joint Owner, provided that in
each case, the Information may be disclosed to those who have such obligations of
confidentiality substantially similar to those as provided for herein.

	13)	 	This Agreement may not be amended, changed or modified, or a provision thereof waived, except
in a writing duly executed by both parties. If any provision of this Agreement is held to be
invalid, illegal or unenforceable in any respect, that provision shall be limited or
eliminated to the minimum extent necessary so that this Agreement otherwise remains in full
force and effect and enforceable.

License Agreement

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CONFIDENTIAL TREATMENT REQUESTED

	14)	 	There are no representations, warranties, agreements or understandings between the parties
with respect to the subject matter of this Agreement other than as specifically set forth in
this Agreement. This Agreement states the entire agreement between the parties with respect
to the subject matter hereof, and, except for the Non-Disclosure Agreement, supersedes all
previous and contemporaneous agreements and understandings, if any, whether written or oral,
between the parties with respect to the subject matter of this Agreement.
	 
	15)	 	The validity, construction, and performance of this Agreement shall be governed by laws of
the State of New York, United States of America, without regard for the choice of law
principles. Any difference or dispute between the parties arising out of or relating to this
Agreement or any breach thereof shall be finally settled by arbitration held in the English
language in New York City, the State of New York, United States of America in accordance with
the Rules of Arbitration of the International Chamber of Commerce. The award of the
arbitration shall be final and binding upon the parties hereto. Judgment upon such award may
be entered in any court having jurisdiction thereof. This provision shall not preclude either
party from seeking injunction or other equitable relief from a court of competent
jurisdiction.
	 
	16)	 	This Agreement may be executed in one or more counterparts, each of which is an original, but
taken together constituting one and the same instrument. Execution of a facsimile copy shall
have the same force and effect as execution of an original, and a facsimile signature shall be
deemed an original and valid signature.

License Agreement

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CONFIDENTIAL TREATMENT REQUESTED

IN WITNESS WHEREOF, the parties have executed this Agreement by their duly authorized
representatives, as of the date first set forth above.

	 	 	 	 	 	 	 	 	 	 	 
	Dainippon Sumitomo Pharma Co., Ltd.	 	 	 	Alimera Sciences, Inc.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Kenjiro Miyatake
 

	 	 
	 	By:
	 	/s/ Richard S. Eiswirth, Jr.
 

	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	Kenjiro Miyatake
	 	 	 	 	 	Richard S. Eiswirth, Jr.	 	 
	 

	 	President
	 	 	 	 	 	CFO	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Date November 1, 2007	 	 	 	Date November 4, 2007	 	 

License Agreement

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CONFIDENTIAL TREATMENT REQUESTED

EXHIBIT A

Patent Rights

[*]

 

			
	*	 	Certain information has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions.

License Agreement

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CONFIDENTIAL TREATMENT REQUESTED

EXHIBIT B

Description of the Licensed Product

[*]

 

			
	*	 	Certain information has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions.

License Agreement

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CONFIDENTIAL TREATMENT REQUESTED

EXHIBIT C

Internal Revenue Service Form W-8BEN

License Agreement

11exv4w1

Exhibit 4.1

ENSCO INTERNATIONAL INCORPORATED,

ENSCO INTERNATIONAL PLC,

PARENT GUARANTOR

AND

DEUTSCHE BANK TRUST COMPANY AMERICAS,

TRUSTEE

 

SECOND SUPPLEMENTAL INDENTURE

DATED AS OF

DECEMBER
22, 2009

TO

INDENTURE

DATED AS OF

NOVEMBER 20, 1997

This Second Supplemental Indenture, dated as of
December 22, 2009, is entered into by and
among ENSCO International Incorporated, a Delaware corporation (the “Company”), having its
principal office at 500 North Akard Street, Suite 4300, Dallas, Texas 75201-3331, Ensco
International plc, as guarantor, (“Parent Guarantor”), an English public limited company, having
its principal office at ENSCO House, Badentoy Avenue, Badentoy Industrial Estate, Aberdeen, AB12
4YB, Scotland, United Kingdom and Deutsche Bank Trust Company Americas, as Trustee (the “Trustee”),
having its principal office at 60 Wall Street, New York, New York 10005.

RECITALS OF THE COMPANY

The Company has executed and delivered to the Trustee an indenture, dated as of November 20, 1997
(the “Original Indenture”), as supplemented by the First Supplemental Indenture dated as of
November 20, 1997 (the “First Supplemental Indenture,” and together with the Original Indenture,
the “Indenture”), providing for the issuance from time to time of the Company’s unsecured
debentures, notes or other evidences of indebtedness (herein called the “Securities”), issuable in
one or more series as provided in the Indenture. All capitalized terms used herein that are defined
in the Indenture shall have the meanings assigned thereto in the Indenture unless otherwise defined
herein.

Section 902 of the Indenture permits the execution of supplemental indentures with the consent of
the Holders of a majority in principal amount of the Outstanding Securities of all series affected
by such supplemental indenture to add any provisions to or change in any manner or eliminate

 

 

any of
the provisions of the Indenture or modify in any manner the rights of the Holders of Securities of
such series under the Indenture, subject to limitations.

Pursuant to the foregoing authority, the Company proposes in and by this Second Supplemental
Indenture to supplement and amend the Indenture.

All things necessary to make this Second Supplemental Indenture a valid agreement of the Company,
in accordance with its terms, have been done.

Now, therefore, in consideration of the premises and the purchase of the Securities by the Holders
thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of all
Holders of the Securities or of series thereof, as follows:

ARTICLE 1

TABLE OF CONTENTS

Section 101. The Table of Contents of the Indenture is hereby amended by adding the following new
definitions in alphabetical order to the list of definitions in Section 101:

     Guarantee

     Guaranteed Obligations

     Parent Guarantor

Section 102. The Table of Contents of the Indenture is hereby amended by adding the following new
article:

ARTICLE FOURTEEN

PARENT GUARANTOR

     SECTION 1401. GUARANTEE

     SECTION 1402. LIMITATION ON LIABILITY

     SECTION 1403. SUCCESSORS AND ASSIGNS

     SECTION 1404. NO WAIVER

     SECTION 1405. MODIFICATION

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ARTICLE 2

FIRST PARAGRAPH

Section 201. The first paragraph of the Indenture is hereby amended and restated in its entirety
as follows:

     THIS Indenture, dated as of November 20, 1997, by and among ENSCO International
Incorporated, a corporation duly organized and existing under the laws of the State of
Delaware (herein called the “Company”), having its principal office at 500 North Akard
Street, Suite 4300, Dallas, Texas 75201-3331, Ensco International plc, as guarantor, a
public limited company duly organized and existing under the laws of England and Wales
(herein called the “Parent Guarantor”), and Deutsche Bank Trust Company Americas, a New
York banking corporation, as Trustee (herein called the “Trustee”), the office of the
Trustee at which at the date hereof its corporate trust business is principally
administered being 60 Wall Street, New York, New York 10005.

ARTICLE 3

DEFINITIONS AND OTHER PROVISIONS

OF GENERAL APPLICATION

Section 301. The definition of “Officers’ Certificate” in Section 101 in Article One of the
Indenture is hereby amended and restated in its entirety as follows:

     “Officers’ Certificate” means a certificate signed by the Chairman of the Board, the
President or a Vice President, and by the Treasurer, the Controller, the Secretary or an
Assistant Treasurer, Assistant Controller or Assistant Secretary, of the Company or the
Parent Guarantor, as applicable, and delivered to the Trustee, which certificate shall be
in compliance with Section 103 hereof.

Section 302. The definition of “Opinion of Counsel” in Section 101 in Article One of the Indenture
is hereby amended and restated in its entirety as follows:

     “Opinion of Counsel” means a written opinion of counsel, who may be counsel for or an
employee of the Company or the Parent Guarantor, as applicable, rendered, if applicable, in
accordance with Section 314(c) of the Trust Indenture Act, which opinion shall be
reasonably acceptable to the Trustee and in compliance with Section 103 hereof.

Section 303. The definition of “Subsidiary” in Section 101 in Article One of the Indenture is
hereby amended and restated in its entirety as follows:

     “Subsidiary” means, as to any Person, a corporation more than 50% of the outstanding voting
stock of which is owned, directly or indirectly, by the Company or the Parent Guarantor, or
by one or more other Subsidiaries, or by the Company or the Parent Guarantor 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.

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Section 304. Section 101 in Article One of the Indenture is hereby amended by adding the following
new defined terms in alphabetical order as follows:

“Guarantee” has the meaning specified in Section 1401(4).

“Guaranteed Obligations” has the meaning specified in Section 1401(1).

“Parent Guarantor” has the meaning specified in the first paragraph of this Indenture,
until a successor Person shall have become such pursuant to the applicable provisions of
the Indenture, and thereafter “Parent Guarantor” shall mean such successor Person.

Section 305. Section 103 in Article One of the Indenture is hereby amended to add the phrase “or
the Parent Guarantor, as applicable,” after each reference therein to the “Company”.

Section 306. Section 104 in Article One of the Indenture is hereby amended to add the phrase “or
the Parent Guarantor, as applicable,” after each reference therein to the “Company”.

ARTICLE 4

CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

Section 401. Section 801 in Article Eight of the Indenture is hereby amended and restated in its
entirety, solely to include the Parent Guarantor, as follows:

     Neither the Company nor the Parent Guarantor shall consolidate with or merge into any
other Person or convey, transfer or lease its properties and assets substantially as an
entirety to any Person and neither the Company nor the Parent Guarantor shall permit any
person to consolidate with or merge into the Company or the Parent Guarantor or convey,
transfer or lease its properties and assets substantially as an entirety to the Company or
the Parent Guarantor unless:

     (1) the Person formed by such consolidation or into which the Company or the
Parent Guarantor is merged or the Person which acquires by conveyance or transfer,
or which leases, the properties and assets of the Company or the Parent Guarantor
substantially as an entirety shall be a corporation, partnership or trust and shall
expressly assume, by an indenture supplemental hereto, executed and delivered to
the Trustee, in form satisfactory to the Trustee, the due and punctual payment of
the principal of (and premium, if any) and interest (including all Additional
Amounts, if any) on all the Securities and the performance of every covenant of
this Indenture on the part of the Company or the Parent Guarantor, as applicable,
to be performed or observed;

     (2) immediately after giving effect to such transaction, no Default or Event
of Default shall have happened and be continuing; and

     (3) the Company or the Parent Guarantor, as applicable, has delivered to the
Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such
consolidation, merger, conveyance, transfer or lease and, if a supplemental
indenture is required in connection with such transaction, such supplemental

4

 

indenture comply with this Article and that all conditions precedent herein
provided for relating to such transaction have been complied with.

ARTICLE 5

SUPPLEMENTAL INDENTURES

Section 501. The first paragraph of Section 901 and numbered paragraphs (1) and (2) in Article Nine
of the Indenture are hereby amended and restated in their entirety, solely to include the Parent
Guarantor, as follows:

     Without the consent of any Holders, the Company, when authorized by a Board
Resolution, the Parent Guarantor, when authorized by its board resolution, and the Trustee,
at any time and from time to time, may enter into one or more indentures supplemental
hereto, in form satisfactory to the Trustee, for any of the following purposes:

     (1) to evidence the succession of another Person to the Company or the Parent
Guarantor, as applicable, and the assumption by any such successor of the covenants
of the Company or the Parent Guarantor, as applicable, herein and in the
Securities;

     (2) to add to the covenants of the Company and/or the Parent Guarantor for the
benefit of the Holders of all or any series of Securities (and if such covenants
are to be for the benefit of less than all series of Securities, stating that such
covenants are expressly being included solely for the benefit of such series), to
convey, transfer, assign, mortgage or pledge any property to or with the Trustee or
otherwise secure any series of the Securities or to surrender any right or power
herein conferred upon the Company or the Parent Guarantor;

Section 502. The first paragraph of Section 902 in Article Nine of the Indenture is hereby amended
and restated in its entirety, solely to include the Parent Guarantor, as follows:

     With the consent of the Holders of a majority in principal amount of the Outstanding
Securities of all series affected by such supplemental indenture (acting as one class), by
Act of said Holders delivered to the Company and the Trustee, the Company, when authorized
by a Board Resolution, the Parent Guarantor, when authorized by its board resolution and
the Trustee may enter into an indenture or indentures supplemental hereto for the purpose
of adding any provisions to or changing in any manner or eliminating any of the provisions
of this Indenture or of modifying in any manner the rights of the Holders of Securities of
such series under this Indenture; PROVIDED, HOWEVER, that no such supplemental indenture
shall, without the consent of the Holder of each Outstanding Security affected thereby,

5

 

ARTICLE 6

COVENANTS

Section 601. The first paragraph of Section 1008 in Article Ten of the Indenture is hereby amended
and restated in its entirety, solely to include the Parent Guarantor, as follows:

     Neither the Company nor the Parent Guarantor shall create, assume or suffer to exist
any Lien on any Restricted Property to secure any debt of the Company, the Parent
Guarantor, any Subsidiary or any other Person, or permit any Subsidiary so to do, without
making effective provision whereby the Securities then outstanding and having the benefit
of this Section shall be secured by a Lien equally and ratably with such debt for so long
as such debt shall be so secured, except that the foregoing shall not prevent the
Company, the Parent Guarantor or any Subsidiary from creating, assuming or suffering to
exist Liens of the following character:

Section 602. Numbered paragraphs (1) to (14) of Section 1008 in Article 10 of the Indenture are
hereby amended to add the phrase “, the Parent Guarantor” after each reference therein to the
“Company”.

Section 603. Section 1009 in Article Ten of the Indenture is hereby amended and restated in its
entirety, solely to include the Parent Guarantor, as follows:

     Neither the Company nor the Parent Guarantor shall enter into any Sale and Leaseback
Transaction covering any Restricted Property, nor permit any Subsidiary to do so, unless:

     (1) the Company, the Parent Guarantor or such Subsidiary would be entitled to
incur debt, in a principal amount at least equal to the Value of such Sale and
Leaseback Transaction, which is secured by Liens on the property to be leased
(without equally and ratably securing the outstanding Securities) because such
Liens would be of such character that no violation of the provisions of Section
1008 would result,

     (2) after the date on which the Securities are originally issued and within
a period commencing nine months prior to the effective date of such Sale and
Leaseback Transaction and ending nine months after such effective date, the
Company, the Parent Guarantor or such Subsidiary shall have expended for Restricted
Property (at fair market value as determined by the Board of Directors of the
Company or the board of directors of the Parent Guarantor) used or to be used in
the ordinary course of business of the Company and its subsidiaries or the Parent
Guarantor and its Subsidiaries, as applicable, an amount equal to all or a portion
of the Value of such Sale and Leaseback Transaction and the Company or the Parent
Guarantor, as applicable, shall have elected to designate such amount as a credit
against such Sale and Leaseback Transaction (with any such amount not being so
designated to be applied as set forth in clause (3) below or as otherwise
permitted), or

     (3) the Company or the Parent Guarantor during the nine months immediately
following the effective date of such Sale and Leaseback Transaction shall have
applied to the acquisition of Restricted Property or the voluntary

6

 

retirement of
Funded Debt (whether by redemption, defeasance, repurchase, or otherwise) an amount
equal to the Value of such Sale and Leaseback Transaction (in either case adjusted
to reflect the remaining term of the lease and any amount expended by the Company
or the Parent Guarantor, as applicable, for Restricted Property as set forth in
clause (2) above).

ARTICLE 7

PARENT GUARANTOR

Section 701. Article Fourteen of the Indenture is hereby added as follows:

ARTICLE FOURTEEN

PARENT GUARANTOR

     SECTION 1401. GUARANTEE

     (1) Except as otherwise set forth in a supplemental indenture establishing a series of
Securities and subject to the provisions of this Article Fourteen, the Parent Guarantor
hereby unconditionally and irrevocably guarantees, as a primary obligor and not merely as a
surety, to each Holder and to the Trustee and its successors and assigns (a) the full and
punctual payment of principal of and interest on and liquidated damages in respect of the
Securities when due, whether on the Stated Maturity, by acceleration, by redemption or
otherwise, and all other monetary obligations of the Company under this Indenture
(including all obligations of the Company to the Trustee under this Indenture) and the
Securities and (b) the full and punctual performance within applicable grace periods of all
other obligations of the Company whether for expenses, indemnification or otherwise under
this Indenture and the Securities (all the foregoing being hereinafter collectively called
the “Guaranteed Obligations”). The Parent Guarantor further agrees that the Guaranteed
Obligations may be extended or renewed, in whole or in part, without notice or further
assent from the Parent Guarantor, and that the Parent Guarantor shall remain bound under
this Article Fourteen notwithstanding any extension or renewal of any Guaranteed
Obligation.

     (2) The Parent Guarantor waives (to the extent that it may lawfully do so) (a)
presentation to, demand of, payment from and protest to the Company of any of the
Guaranteed Obligations, (b) notice of protest for nonpayment and (c) notice of any default
under Securities of any series or the Guaranteed Obligations. The obligations of the Parent
Guarantor hereunder shall not be affected by (i) the failure of any Holder or the Trustee
to assert any claim or demand or to enforce any right or remedy against the Company or any
other Person under this Indenture, the Securities of any series or any other agreement or
otherwise; (ii) any extension or renewal of any thereof; (iii) any rescission, waiver,
amendment or modification of any of the terms or provisions of this Indenture, the
Securities of any series or any other agreement relating to this Indenture or the
Securities; (iv) the release of any security held by any Holder or the Trustee for the
Guaranteed Obligations or any of them; (v) the failure of any Holder or the Trustee to
exercise any right or remedy against any other guarantor of the Guaranteed Obligations; or
(vi) any change in the ownership of the Parent Guarantor.

7

 

     (3) The Parent Guarantor hereby waives (to the extent that it may lawfully do so) (a)
any right to which it may be entitled to have the assets of the Company first be used and
depleted as payment of the Company’s or such Parent Guarantor’s obligations hereunder prior
to any amounts being claimed from or paid by the Parent Guarantor hereunder and (b) any
right to which it may be entitled to require that the Company be sued prior to an action
being initiated against the Parent Guarantor.

     (4) The Parent Guarantor further agrees that its guarantee pursuant to this Article
Fourteen (the “Guarantee”) herein constitutes a guarantee of payment, performance and
compliance when due (and not a guarantee of collection) and waives (to the extent that it
may lawfully do so) any right to require that any resort be had by any Holder or the
Trustee to any security held for payment of the Guaranteed Obligations.

     (5) Except as expressly set forth in Article Four and Section 1402, the obligations of
the Parent Guarantor hereunder shall not be subject to any reduction, limitation,
impairment or termination for any reason, including any claim of waiver, release,
surrender, alteration or compromise, and shall not be subject to any defense of setoff,
counterclaim, recoupment or termination whatsoever or by reason of the invalidity,
illegality or unenforceability of the Guaranteed Obligations or otherwise. Without limiting
the generality of the foregoing, the obligations of the Parent Guarantor herein shall not
be discharged or impaired or otherwise affected by the failure of any Holder or the Trustee
to assert any claim or demand or to enforce any remedy under this Indenture, the Securities
of any series or any other agreement relating to this Indenture or the Securities, by any
waiver or modification of any thereof, by any default, failure or delay, willful or
otherwise, in the performance of the obligations, or by any other act or thing or omission
or delay to do any other act or thing which may or might in any manner or to any extent
vary the risk of the Parent Guarantor or would otherwise operate as a discharge of the
Parent Guarantor as a matter of law or equity.

     (6) The Parent Guarantor agrees that its Guarantee shall remain in full force and
effect until payment in full of all the Guaranteed Obligations. The Parent Guarantor
further agrees that its Guarantee herein shall continue to be effective or be reinstated,
as the case may be, if at any time payment, or any part thereof, of principal of or
interest on any Guaranteed Obligation is rescinded or must otherwise be restored by any
Holder or the Trustee upon the bankruptcy or reorganization of the Company or otherwise.

     (7) In furtherance of the foregoing and not in limitation of any other right which any
Holder or the Trustee has at law or in equity against the Parent Guarantor by virtue
hereof, upon the failure of the Company to pay the principal of or interest on any
Guaranteed Obligation when and as the same shall become due, whether at maturity, by
acceleration, by redemption or otherwise, or to perform or comply with any other Guaranteed
Obligation, the Parent Guarantor hereby promises to and shall, upon receipt of written
demand by the Trustee, forthwith pay, or cause to be paid, in cash, to the Holders or the
Trustee an amount equal to the sum of (a) the unpaid principal amount of such Guaranteed
Obligations, (b) accrued and unpaid interest on such Guaranteed Obligations (but only to
the extent not prohibited by law) and (c) all other monetary obligations of the Company to
the Holders and the Trustee.

     (8) The Parent Guarantor agrees that it shall not be entitled to any right of
subrogation in relation to the Holders in respect of any Guaranteed Obligations guaranteed
hereby until payment in full of all Guaranteed Obligations. The Parent

8

 

Guarantor further
agrees that, as between it, on the one hand, and the Holders and the Trustee, on the other
hand, (a) the maturity of the Guaranteed Obligations guaranteed hereby may be accelerated
as provided in Article Five for the purposes of any Guarantee herein, notwithstanding any
stay, injunction or other prohibition preventing such acceleration in respect of the
Guaranteed Obligations guaranteed hereby, and (b) in the event of any declaration of
acceleration of such Guaranteed Obligations as provided in Article Five, such Guaranteed
Obligations (whether or not due and payable) shall forthwith become due and payable by the
Parent Guarantor for the purposes of this Section 1401.

     (9) The Parent Guarantor also agrees to pay any and all costs and expenses (including
reasonable attorneys’ fees and expenses) incurred by the Trustee or any Holder in enforcing
any rights under this Section 1401.

     SECTION 1402 LIMITATION ON LIABILITY

     Any term or provision of this Indenture to the contrary notwithstanding, the maximum,
aggregate amount of the Guaranteed Obligations guaranteed hereunder by the Parent Guarantor
shall not exceed the maximum amount that can be hereby guaranteed without rendering this
Indenture, as it relates to the Parent Guarantor, voidable under applicable law relating to
fraudulent conveyance or fraudulent transfer or similar laws affecting the rights of
creditors generally.

     SECTION 1403 SUCCESSORS AND ASSIGNS

     This Article Fourteen shall be binding upon the Parent Guarantor and its successors
and assigns and shall inure to the benefit of the successors and assigns of the Trustee and
the Holders and, in the event of any transfer or assignment of rights by any Holder or the
Trustee, the rights and privileges conferred upon that party in this Indenture and in the
Securities of any series shall automatically extend to and be vested in such transferee or
assignee, all subject to the terms and conditions of this Indenture

     SECTION 1404 NO WAIVER

     Neither a failure nor a delay on the part of either the Trustee or the Holders in
exercising any right, power or privilege under this Article Fourteen shall operate as a
waiver thereof, nor shall a single or partial exercise thereof preclude any other or
further exercise of any right, power or privilege. The rights, remedies and benefits of the
Trustee and the Holders herein expressly specified are cumulative and not exclusive of any
other rights, remedies or benefits which either may have under this Article Fourteen at
law, in equity, by statute or otherwise.

     SECTION 1405 MODIFICATION

     No modification, amendment or waiver of any provision of this Article Fourteen, nor
the consent to any departure by the Parent Guarantor therefrom, shall in any event be
effective unless the same shall be in writing and signed by the Trustee and the Parent
Guarantor, and then such waiver or consent shall be effective only in the specific instance
and for the purpose for which given. No notice to or demand on the Parent Guarantor in any
case shall entitle the Parent Guarantor to any other or further notice or demand in the
same, similar or other circumstances.

9

 

* * *

This instrument may be executed in any number of counterparts, each of which so executed shall be
deemed to be an original, but all such counterparts shall together constitute but one and the same
instrument.

10

 

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

ENSCO INTERNATIONAL INCORPORATED

	 	 	 	 	 
	 	 	 
	By:  	/s/
James W. Swent III	 	 
	 	Name:  	James W. Swent III	 	 
	 	Title:  	Senior Vice President — Chief Financial
Officer	 	 
	 
	ENSCO INTERNATIONAL PLC, Parent Guarantor

 	 	 
	By:  	/s/
James W. Swent III	 	 
	 	Name:  	James W. Swent III	 	 
	 	Title:  	Senior Vice President — Chief Financial
Officer	 	 
	 
	DEUTSCHE BANK TRUST COMPANY AMERICAS, Trustee

 	 	 
	By:  	/s/
Yana Kislenko	 	 
	 	Name:  	Yana Kislenko	 	 
	 	Title:  	Assistant Vice President	 	 
	 
	 	 	 
	By:  	/s/
Randy Kahn	 	 
	 	Name:  	Randy Kahn	 	 
	 	Title:  	Vice President	 	 
	 

11

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