Document:

<PAGE>
                                                                     EXHIBIT 4.9

================================================================================

                          SECOND SUPPLEMENTAL INDENTURE

                                      AMONG

                         WEATHERFORD INTERNATIONAL, INC.

                         WEATHERFORD INTERNATIONAL LTD.

                                       AND

                               JPMORGAN CHASE BANK

                                   AS TRUSTEE

                                   ----------

                                   DATED AS OF

                                  JUNE 26, 2002

                    TO INDENTURE DATED AS OF OCTOBER 15, 1997

                                   ----------

================================================================================

<PAGE>

                                TABLE OF CONTENTS

<Table>

<S>                                                                                                              <C>
ARTICLE ONE CONVERSION RIGHTS.....................................................................................2

   SECTION 101 Conversion Rights..................................................................................2

ARTICLE TWO ADDITIONAL EVENTS OF DEFAULT..........................................................................3

   SECTION 201 Additional Events of Default.......................................................................3
   SECTION 202 Additional Definitions.............................................................................4

ARTICLE THREE MISCELLANEOUS PROVISIONS............................................................................4

   SECTION 301 Integral Part......................................................................................4
   SECTION 302 General Definitions................................................................................4
   SECTION 303 Adoption, Ratification and Confirmation............................................................4
   SECTION 304 Trust Indenture Act Controls.......................................................................5
   SECTION 305 Governing Law......................................................................................5
   SECTION 306 Severability.......................................................................................5
   SECTION 307 Counterpart Originals..............................................................................5
   SECTION 308 Successors.........................................................................................5
   SECTION 309 Table of Contents, Headings, etc...................................................................5
   SECTION 310 Benefit of Second Supplemental Indenture...........................................................5
   SECTION 311 Acceptance by Trustee..............................................................................6
</Table>

                                      -i-

<PAGE>

         THIS SECOND SUPPLEMENTAL INDENTURE, dated as of June 26, 2002, among
Weatherford International, Inc., a Delaware corporation (the "Company"),
Weatherford International Ltd., a Bermuda exempted company ("Parent"), and
JPMorgan Chase Bank (the "Trustee").

                             RECITALS OF THE COMPANY

         WHEREAS, the Company, formerly known as EVI, Inc., has heretofore
executed and delivered to the Trustee an Indenture (the "Base Indenture"), dated
as of October 15, 1997, as supplemented by the First Supplemental Indenture
thereto (the "First Supplemental Indenture"), dated as of October 28, 1997 (the
Base Indenture, as so supplemented, is referred to herein as the "Indenture"),
providing for the issuance from time to time of one or more series of the
Company's Debentures (as said term is defined therein); and

         WHEREAS, the Company has, in accordance with the First Supplemental
Indenture, previously issued $402,500,000 aggregate original principal amount of
its 5% Convertible Subordinated Preferred Equivalent Debentures due 2027 (the
"Convertible Debentures"); and

         WHEREAS, pursuant to the Agreement and Plan of Merger dated as of May
8, 2002 (the "Merger Agreement") among Parent, Weatherford U.S. Holdings,
L.L.C., a Delaware limited liability company and an indirect, wholly owned
subsidiary of Parent, Weatherford Merger Inc., a Delaware corporation and an
indirect, wholly owned subsidiary of Parent ("Sub"), and the Company, Sub has
agreed to merge with and into the Company (the "Merger"), with the Company being
the surviving corporation in the Merger, following which the Company will be an
indirect, wholly owned subsidiary of Parent;

         WHEREAS, pursuant to the Merger Agreement, as of the effective time of
the Merger (the "Effective Time"), each outstanding share of common stock of the
Company ("Company Common Stock") shall be converted into the right to receive
one validly issued, fully paid and nonassessable common share of Parent ("Parent
Common Shares");

         WHEREAS, pursuant to Section 14.9 of the Base Indenture and Section 6.4
of the First Supplemental Indenture, as a result of the Merger, the Company is
required to execute and deliver to the Trustee a supplemental indenture
providing (i) that the Convertible Debentures shall be convertible into Parent
Common Shares and (ii) for adjustments which shall be as nearly equivalent as
may be practicable to the adjustments provided for in the Indenture and the
Convertible Debentures;

         WHEREAS, in connection with such Merger, the Parent has determined that
it will be in the best interests of and beneficial to the Parent to enter into,
and is effective as of the date hereof entering into, that certain Convertible
Debenture Guarantee Agreement for the purpose of providing a guarantee of the
Convertible Debentures; and

         WHEREAS, Section 9.1(h) of the Base Indenture permits the execution of
supplemental indentures without the consent of any Holders to make provision
with respect to the conversion rights of Holders pursuant to the requirements of
Article XIV of the Base Indenture, including providing for the conversion of the
Debentures into any security or property other than Company Common Stock; and

<PAGE>

         WHEREAS, Sections 9.1(b) and 9.1(c) of the Base Indenture permit the
execution of supplemental indentures without the consent of any Holders to add
any additional Events of Default with respect to, and to add to the covenants of
the Company for the benefit of, all or any series of Debentures; and

         WHEREAS, the Company, pursuant to the foregoing authority, proposes in
and by this Second Supplemental Indenture to supplement and amend the Indenture
in certain respects; and

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

         NOW THEREFORE:

         In consideration of the premises provided for herein, the Company, the
Parent and the Trustee mutually covenant and agree as follows:

                                   ARTICLE ONE

                                CONVERSION RIGHTS

         SECTION 101 Conversion Rights.

         The Company and Parent hereby agree in accordance with Section 14.9 of
the Base Indenture and Section 6.4 of the First Supplemental Indenture that the
holder of each Convertible Debenture outstanding at the effective time of the
Merger shall have the right to convert such Convertible Debenture into the
number of Parent Common Shares equal to the number of shares of Company Common
Stock which would have been deliverable upon conversion of such Convertible
Debenture immediately prior to the effective time of the Merger. Parent hereby
agrees in accordance with Section 14.9 of the Base Indenture and Section 6.4 of
the First Supplemental Indenture to issue and deliver certificates evidencing
such shares and make any subsequent adjustments which shall be as nearly
equivalent as may be practicable to the adjustments provided for in the
Debentures and, to the extent relevant thereto, Article XIV of the Base
Indenture and Article VI of the First Supplemental Indenture, and for such
purpose (a) from and after the effective time of the Merger all references in
Article XIV of the Base Indenture and Article VI of the First Supplemental
Indenture to "Common Stock of the Company" or "Common Stock", or to actions
taken by or in respect of the Company (in respect of the Common Stock or
otherwise) that require adjustment of the number of shares of such Common Stock
issuable upon conversion of Convertible Debentures and/or the Conversion Price,
or change of the securities or other property into which Convertible Debentures
shall be convertible shall, insofar as the same relate to or affect the
convertibility, or conversion, of Convertible Debentures, or the terms thereof,
or the securities or other property into which Convertible Debentures shall be
convertible, be deemed to mean and refer to Parent Common Shares or actions
taken by or in respect of the Parent (in respect of the Parent Common Shares or
otherwise), as the case may be, mutatis mutandis, (b) the Parent shall assume
the obligations of the Company under Section 14.6, and its covenant in Section
14.8, of the Base Indenture, and (c) the references to the Company in the
penultimate sentence of Section 14.10 of the Base

                                      -2-
<PAGE>

Indenture, and Section 6.2(b) and the last sentence of Section 6.8, of the First
Supplemental Indenture, shall be deemed to mean and include the Parent as well
as the Company.

                                   ARTICLE TWO

                          ADDITIONAL EVENTS OF DEFAULT

         SECTION 201 Additional Events of Default.

         Section 5.1 of the Indenture is hereby amended by adding the following
subsections (g), (h), (i) and (j) after existing subsection (f), and
redesignating existing subsection (g) as subsection (k):

         "(g) with respect to the Debentures guaranteed under the Convertible
Debenture Guaranty Agreement, any default in the performance, or breach, of any
covenant or warranty of the Guarantor in the Convertible Debenture Guaranty
Agreement, and continuation of such default or breach for a period of 90 days
after there has been given, by registered or certified mail, to the Company, the
Guarantor and the Trustee by the Convertible Debenture Guarantee Trustee or to
the Company, the Guarantor, the Trustee and the Convertible Debenture Guarantee
Trustee by the Holders of at least 25% in principal amount of the Outstanding
Debentures of that series a written notice specifying such default or breach and
requiring it to be remedied and stating that such notice is a "Notice of
Default" hereunder; or

         (h) with respect to the Debentures guaranteed under the Convertible
Debenture Guaranty Agreement, the entry by a court having jurisdiction in the
premises of a decree or order for relief in respect of the Guarantor in an
involuntary case or proceeding under any applicable bankruptcy, insolvency,
reorganization or other similar law, whether domestic or foreign, or appointing
a custodian, receiver, liquidator, assignee, trustee, sequestrator or other
similar official of the Guarantor or of any substantial part of the property of
the Guarantor, or ordering the winding up or liquidation of its affairs, and the
continuation of any such decree or order for relief or any such other decree or
order unstayed and in effect for a period of 60 consecutive days; or

         (i) with respect to the Debentures guaranteed under the Convertible
Debenture Guaranty Agreement, the commencement by the Guarantor of a voluntary
case or proceeding under any applicable bankruptcy, insolvency, reorganization
or other similar law, whether domestic or foreign, or of any other case or
proceeding to be adjudicated as bankrupt or insolvent, or the consent by it to
the entry of a decree or order for relief in respect of the Guarantor in an
involuntary case or proceeding under any applicable bankruptcy, insolvency,
reorganization or other similar law, whether domestic or foreign, or the
commencement of any bankruptcy or insolvency case or proceeding against the
Guarantor, or the filing by the Guarantor of a petition or answer or consent
seeking reorganization, arrangement, adjustment or composition of or in respect
of the Guarantor under any applicable law, whether domestic or foreign, or the
consent by the Guarantor to the filing of such petition or to the appointment of
or taking possession by a custodian, receiver, liquidator, assignee, trustee,
sequestrator or similar official of the Guarantor or of any substantial part of
the property of the Guarantor, or the making by the Guarantor of an assignment
for the benefit of creditors; or

                                      -3-
<PAGE>

         (j) with respect to the Debentures guaranteed under the Convertible
Debenture Guaranty Agreement, the Guarantee in respect of the Debentures of that
series ceases to be in full force and effect or becomes unenforceable or invalid
or is declared null and void (other than in accordance with the terms of such
Guarantee) or the Guarantor denies or disaffirms its obligations under such
Guarantee; or"

         SECTION 202 Additional Definitions.

Section 1.1 of the Indenture is hereby amended to include certain definitions of
terms used in the additional Events of Default described in Section 201 of this
Second Supplemental Indenture by inserting in their appropriate alphabetical
positions, the following additional definitions:

         "'Convertible Debenture Guarantee Agreement' shall mean that certain
Convertible Debenture Guarantee Agreement between the Guarantor and the
Convertible Debenture Guarantee Trustee dated as of June 26, 2002, as amended
from time to time."

         "'Convertible Debenture Guarantee Trustee' shall mean JPMorgan Chase
Bank, as trustee under the Convertible Debenture Guarantee Agreement, until a
successor Person shall have become such pursuant to the applicable provisions of
the Convertible Debenture Guarantee Agreement, and thereafter 'Convertible
Debenture Guarantee Trustee' shall mean such successor Person."

         "'Guarantee' shall mean the unconditional guarantee of the Convertible
Debentures under the Convertible Debenture Guarantee Agreement by the
Guarantor."

         "'Guarantor' shall mean Weatherford International Ltd., a Bermuda
exempted company, until a successor Person shall have become such pursuant to
the applicable provisions of the Convertible Debenture Guarantee Agreement, and
thereafter 'Guarantor' shall mean such successor Person."

                                  ARTICLE THREE

                            MISCELLANEOUS PROVISIONS

         SECTION 301 Integral Part.

         This Second Supplemental Indenture constitutes an integral part of the
Indenture.

         SECTION 302 General Definitions.

         For all purposes of this Second Supplemental Indenture, capitalized
terms used herein without definition shall have the meanings specified in the
Indenture.

         SECTION 303 Adoption, Ratification and Confirmation.

         The Indenture, as supplemented and amended by this Second Supplemental
Indenture, is in all respects hereby adopted, ratified and confirmed, and this
Second Supplemental Indenture shall be deemed part of the Indenture in the
manner and to the extent herein and therein

                                      -4-
<PAGE>

provided. The provisions of this Second Supplemental Indenture shall, subject to
the terms hereof, supersede the provisions of the Indenture to the extent the
Indenture is inconsistent herewith.

         SECTION 304 Trust Indenture Act Controls.

         If any provision of this Indenture limits, qualifies or conflicts with
the duties imposed by operation of TIA Section 318(c), the imposed duties shall
control.

         SECTION 305 Governing Law.

         THIS SECOND SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO
CONFLICTS OF LAWS PRINCIPLES THEREOF.

         SECTION 306 Severability.

         In case any provision in this Second Supplemental Indenture shall be
invalid, illegal or unenforceable, the validity, legality and enforceability of
the remaining provisions shall, to the fullest extent permitted by applicable
law, not in any way be affected or impaired thereby.

         SECTION 307 Counterpart Originals.

         The parties may sign any number of copies of this Second Supplemental
Indenture. Each signed copy shall be an original, but all of them together
represent the same agreement.

         SECTION 308 Successors.

         All agreements of the Company or the Parent in this Second Supplemental
Indenture shall bind its respective successors. All agreements of the Trustee in
this Second Supplemental Indenture shall bind its successors.

         SECTION 309 Table of Contents, Headings, etc.

         The table of contents, cross-reference table and headings of the
Articles and Sections of this Second Supplemental Indenture have been inserted
for convenience of reference only, are not to be considered a part hereof and
shall in no way modify or restrict any of the terms or provisions hereof.

         SECTION 310 Benefit of Second Supplemental Indenture.

         Nothing in this Second Supplemental Indenture, express or implied,
shall give to any Person, other than the parties hereto, any Security Registrar,
any Paying Agent and their successors hereunder, and the Holders of the
Securities, any benefit or any legal or equitable right, remedy or claim under
this Second Supplemental Indenture.

                                      -5-
<PAGE>

         SECTION 311 Acceptance by Trustee.

         The Trustee accepts the amendments to the Indenture effected by this
Second Supplemental Indenture and agrees to execute the trusts created by the
Indenture as hereby amended, but only upon the terms and conditions set forth in
this Second Supplemental Indenture and the Indenture. Without limiting the
generality of the foregoing, the Trustee assumes no responsibility for the
correctness of the recitals contained herein, which shall be taken as the
statements of the Company and except as provided in the Indenture the Trustee
shall not be responsible or accountable in any way whatsoever for or with
respect to the validity or execution or sufficiency of this Second Supplemental
Indenture and the Trustee makes no representation with respect thereto.

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

                              WEATHERFORD INTERNATIONAL, INC.

                              By:      /s/ BURT M. MARTIN
                                       -----------------------------------------
                                       Name: Burt M. Martin
                                       Title: Senior Vice President

                              WEATHERFORD INTERNATIONAL LTD.

                              By:      /s/ BURT M. MARTIN
                                       -----------------------------------------
                                       Name: Burt M. Martin
                                       Title: Director

                              JPMORGAN CHASE BANK

                              By:      /s/ W.B. DODGE
                                       -----------------------------------------
                                       Name:  W.B. Dodge
                                       Title:  Vice President

                                      -6-<PAGE>
                                                                    EXHIBIT 10.1

                       ASSUMPTION AND GENERAL AMENDMENT OF
                DIRECTORS' STOCK OPTION AND BENEFIT PROGRAMS AND
             GENERAL AMENDMENT OF EMPLOYEE STOCK OPTION AND BENEFIT
                   PROGRAMS OF WEATHERFORD INTERNATIONAL, INC.

         THIS ASSUMPTION AND GENERAL AMENDMENT INSTRUMENT is hereby made
effective this 26th day of June, 2002 to be effective as hereinafter set forth.

                                   WITNESSETH:

         WHEREAS, pursuant to that certain Agreement and Plan of Merger (the
"Agreement"), dated as of May 8, 2002, among Weatherford International Ltd., a
Bermuda exempted company ("Weatherford Bermuda"), Weatherford International,
Inc., a Delaware corporation ("Weatherford Delaware"), Weatherford U.S.
Holdings, L.L.C., a Delaware limited liability company ("U.S. Holdings") and
Weatherford Merger Inc., a Delaware corporation ("Merger Sub") and a newly
formed, indirect wholly-owned subsidiary of Weatherford Bermuda and a direct
wholly-owned subsidiary of U.S. Holdings, the respective Boards of Directors of
Weatherford Bermuda, Weatherford Delaware, U.S. Holdings and Merger Sub deem it
advisable and in the best interests of their respective stockholders to
reorganize such that Weatherford Bermuda will become the ultimate parent of the
Weatherford group of companies through the merger of Merger Sub with and into
Weatherford Delaware; and

         WHEREAS, subject to the approval of the stockholders of Weatherford
Delaware, the respective Boards of Directors of Weatherford Bermuda, Weatherford
Delaware, U.S. Holdings and Merger Sub (and the stockholders of Weatherford
Bermuda, U.S. Holdings and Merger Sub) have each approved the merger of Merger
Sub with and into Weatherford Delaware, pursuant to which Weatherford Delaware
will be the surviving company in the merger and become a wholly-owned, indirect
subsidiary of Weatherford Bermuda (and a wholly-owned, direct subsidiary of U.S.
Holdings), upon the terms and subject to the conditions set forth in the
Agreement (the "Merger"), and whereby each issued share of common stock, par
value US$1.00 per share, of Weatherford Delaware ("Weatherford Delaware Common
Stock"), including those shares of Weatherford Delaware Common Stock held by
Weatherford Delaware or any direct or indirect wholly-owned subsidiary of
Weatherford Delaware, shall be automatically converted into the right to receive
one common share, par value US$1.00 per share, of Weatherford Bermuda
("Weatherford Bermuda Common Shares"); and

         WHEREAS, Weatherford Delaware currently maintains and sponsors (i) the
Weatherford International Incorporated 1987 Stock Option Plan, as amended and
restated, the Weatherford Enterra, Inc. 1991 Stock Option Plan, as amended and
restated, the Weatherford Enterra, Inc. Amended and Restated Employee Stock
Purchase Plan, the Weatherford Enterra, Inc. Restricted Stock Incentive Plan, as
amended and restated, the Weatherford International, Inc. Executive Deferred
Compensation Stock Ownership Plan and Related Trust Agreement, the Energy
Ventures, Inc. Employee Stock Option Plan, the Weatherford International, Inc.
1998 Employee Stock Option Plan, the Amendment to Stock Option Programs, and
certain other plans and agreements providing for the grant or award to its
officers and employees of options or other rights to purchase or receive
Weatherford Delaware Common Stock (the "Employee Stock Plans") and (ii) the
Weatherford International, Inc. Non-Employee Director Deferred

<PAGE>

Compensation Plan and the Amended and Restated Non-Employee Director Stock
Option Plan, and certain other plans and agreements providing for the grant or
award to its directors of options or other rights to purchase or receive
Weatherford Delaware Common Stock (the "Director Stock Plans"); and

         WHEREAS, the Agreement provides that, following the Merger, Weatherford
Delaware shall continue to maintain and sponsor the Employee Stock Plans and
Weatherford Bermuda shall assume the rights and obligations of Weatherford
Delaware under the Employee Stock Plans and the Director Stock Plans and that
the outstanding options and other awards under the Employee Stock Plans and
Director Stock Plans shall be exercisable or issuable upon the same terms and
conditions as under such plans and the agreements relating thereto immediately
prior to the effective time of the Merger, except that upon the exercise or
issuance of such options or awards, Weatherford Bermuda Common Shares shall be
issuable in lieu of shares of Weatherford Delaware Common Stock so that the
number of Weatherford Bermuda Common Shares issuable upon the exercise or
issuance of such an option or award immediately after the Effective Time and the
option price of each such option or award shall be the number of shares and
option price in effect immediately prior to the Effective Time (as defined in
the Agreement) and all options or awards issued under the Employee Stock Plans
and Director Stock Plans after the Effective Time shall entitle the holder
thereof to purchase Weatherford Bermuda Common Shares in accordance with the
terms of the Employee Stock Plans and Director Stock Plans; and

         WHEREAS, the Agreement further provides that, following the Merger, (i)
Weatherford Delaware shall continue to sponsor and maintain each employee
benefit and program to which Weatherford Delaware is then a party (the "Employee
Benefit Plans"), (ii) Weatherford Bermuda shall assume the rights and
obligations of Weatherford Delaware under each director benefit plan and program
to which Weatherford Delaware is then a party (the "Director Benefit Plans") and
(iii) to the extent any Employee Benefit Plan or Director Benefit Plan provides
for the issuance or purchase of, or otherwise relates to, Weatherford Delaware
Common Stock, after the Effective Time, such plan shall be deemed to provide for
the issuance or purchase of, or otherwise relate to, Weatherford Bermuda Common
Shares; and

         WHEREAS, the consummation of the Merger requires, among other things,
the adoption of this Agreement by the affirmative vote of the holders of a
majority of the outstanding Weatherford Delaware Common Stock entitled to vote
on such adoption (the "Weatherford Delaware Stockholder Approval");

         NOW, THEREFORE, subject to Weatherford Delaware Stockholder Approval,
the Employee Stock Plans, the Director Stock Plans, the Employee Benefit Plans
and the Director Benefit Plans are hereby amended to the extent necessary to
provide as follows:

         1.       Weatherford International Ltd. hereby assumes the rights,
                  duties, obligations of Weatherford International, Inc. under
                  the Employee Stock Plans, and the rights, duties, obligations
                  and sponsorship of Weatherford International, Inc. under the
                  Director Stock Plans and the Director Benefit Plans, and each
                  reference to "Weatherford International, Inc." or "Weatherford
                  Enterra, Inc." (or any predecessor) in any Director Stock Plan
                  and any Director Benefit

                                      -2-
<PAGE>

                  Plan is hereby deleted and "Weatherford International Ltd." is
                  hereby substituted in place of such deleted reference.

         2.       Each direct or indirect reference to Weatherford Delaware
                  Common Stock (i.e., common stock, par value U.S. $1.00 per
                  share, of Weatherford International, Inc.) in any Employee
                  Stock Plan, Director Stock Plan, Employee Benefit Plan or
                  Director Benefit Plan is hereby deleted and Weatherford
                  Bermuda Common Shares (i.e., common share, par value US $1.00
                  per share, of Weatherford International Ltd.) is hereby
                  substituted in place of such deleted reference.

         3.       As amended hereby, each affected Employee Stock Plan, Employee
                  Benefit Plan, Director Stock Plan and Director Benefit Plan is
                  specifically ratified and reaffirmed.

         The undersigned, being duly authorized, on behalf of Weatherford
International Ltd. and Weatherford International, Inc., have executed this
Assumption and General Amendment Instrument on the date first set forth above,
to be effective as of the Effective Time of the Merger.

                                              WEATHERFORD INTERNATIONAL LTD.
ATTEST:

By:  /s/ KATHLEEN A. LOPEZ                    By:  /s/ BURT M. MARTIN
   ----------------------------------              -----------------------------
Printed Name:  Kathleen A. Lopez              Printed Name: Burt M. Martin
             ------------------------                      ---------------------
Title:  Executive Assistant                   Title: Director
      -------------------------------               ----------------------------

                                              WEATHERFORD INTERNATIONAL INC.
ATTEST:

By:  /s/ KATHLEEN A. LOPEZ                    By:  /s/ BURT M. MARTIN
   ----------------------------------            -------------------------------
Printed Name:  Kathleen A. Lopez              Printed Name: Burt M. Martin
             ------------------------                      ---------------------
Title:  Executive Assistant                   Title: Senior Vice President
      -------------------------------               ----------------------------

                                      -3-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00042-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00042-of-00352.parquet"}]]