Document:

Second Amendment to Senior Secured Revolving Credit Facility

 Exhibit 10.24 
 Execution Version 
  

 
  

SECOND AMENDMENT TO SENIOR SECURED REVOLVING CREDIT AGREEMENT 

dated as of 
 March 14, 2011 
 among 

HORNBECK OFFSHORE SERVICES, LLC 
 and 
 HORNBECK OFFSHORE TRANSPORTATION, LLC, 

AS BORROWERS, 
 HORNBECK OFFSHORE SERVICES, INC., 
 AS PARENT GUARANTOR, 

WELLS FARGO BANK, N.A., 
 AS ADMINISTRATIVE AGENT, 
 AND 

THE LENDERS PARTY HERETO 
  

 
 SOLE LEAD
ARRANGER AND SOLE BOOKRUNNER 
 WELLS FARGO SECURITIES, LLC 

 
  

 

 SECOND AMENDMENT TO SENIOR SECURED REVOLVING CREDIT AGREEMENT 

THIS SECOND AMENDMENT TO SENIOR SECURED REVOLVING CREDIT AGREEMENT (this “Amendment”) dated as of March 14,
2011, is among Hornbeck Offshore Services, LLC and Hornbeck Offshore Transportation, LLC, each a limited liability company duly formed and existing under the laws of the State of Delaware (collectively, the “Borrowers” and
individually, a “Borrower”); Hornbeck Offshore Services, Inc., a corporation duly formed and existing under the laws of the State of Delaware (the “Parent Guarantor”); each of the Lenders signatory hereto and Wells
Fargo Bank, N.A., as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the “Administrative Agent”). 
 R E C I T A L S 
 A. The Parent Guarantor, the Borrowers, the
Administrative Agent and the Lenders are parties to that certain Senior Secured Revolving Credit Agreement dated as of September 27, 2006 (as the same has been modified prior to the date hereof, the “Credit Agreement”),
pursuant to which the Lenders have made certain loans to, and extensions of credit for, the account of the Borrowers. 
 B. The
Parent Guarantor and the Borrowers have requested and the Lenders have agreed to amend the Credit Agreement to, among other things, modify the financial covenants as set forth therein. 

C. NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 Section 1. Defined Terms. Each
capitalized term used herein but not otherwise defined herein has the meaning given such term in the Credit Agreement, as amended hereby. Unless otherwise indicated, all article and section references in this Amendment refer to articles and sections
of the Credit Agreement. 
 Section 2. Amendments to Credit Agreement. 

2.1 Amendments to Section 1.02. 
 (a) The following definitions are hereby deleted and replaced in their entireties to read as follows: 
 “‘Agreement’ means this Credit Agreement, as amended by the First Amendment and the Second Amendment, together with any and all supplements, restatements, renewals, refinances,
modifications, amendments, extensions for any period, increases or rearrangements thereof.” 

“‘APB 14’ means Accounting Standards Codification Topic 470-20 (formerly Financial Accounting
Standards Board (FASB) Staff Position APB14-1, Accounting for Convertible Debt Instruments That May Be Settled in Cash upon Conversion (Including Partial Cash Settlement)), promulgated by the FASB.” 

“‘Fee Letter’ means, together, (i) the letter agreement, dated as of July 21, 2006,
between the Borrowers and the Administrative Agent, (ii) the letter agreement, dated as of October 14, 2009, between the Borrowers and Wells Fargo Securities, LLC and (iii) the letter agreement dated as of March 4, 2011, between
Hornbeck Offshore Services, LLC and Wells Fargo Securities LLC.” 

  
 1 

 (b) The following definitions are hereby amended as follows: 

(i) The definition of “Pro Forma EBITDA” is hereby amended by adding the words “and the Senior Secured Leverage
Ratio” immediately after the words “with respect to the Leverage Ratio” in the first sentence of such definition. 
 (ii) The definition of “Qualified Services Contract” is hereby amended by adding the words “and the Senior Secured Leverage Ratio” immediately after each reference to
“Leverage Ratio” therein. 
 (c) The following definitions are hereby added where alphabetically appropriate to read
as follows: 
 “‘Second Amendment’ means the Second Amendment to Senior Secured Revolving
Credit Agreement dated as of March 14, 2011 among the Parent Guarantor, the Borrowers, the Administrative Agent and the Lenders party thereto.” 
 “‘Second Amendment Effective Date’ has the meaning assigned to such term in Section 3 of the Second Amendment.” 

“‘Senior Secured Debt’ means secured Funded Debt.” 

“‘Senior Secured Leverage Ratio’ means the ratio of Senior Secured Debt to Pro Forma EBITDA for the
four fiscal quarters ending on the last day of the preceding fiscal quarter for which financial statements of the Parent Guarantor have been delivered pursuant to Sections 8.01(a) and (c).” 

“‘Stockholders’ Equity’ means, as of the last day of any fiscal quarter commencing with the
quarter ended December 31, 2010, consolidated stockholders’ equity of the Parent Guarantor and its Consolidated Subsidiaries as of that date determined in accordance with GAAP.” 

“‘Total Debt’ means, with respect to the Parent Guarantor (on a consolidated basis with its
Consolidated Subsidiaries), as of the last day of any fiscal quarter commencing with the quarter ended December 31, 2010, without duplication, (a) all indebtedness for money borrowed, (b) the present value of all obligations for
the payment of rent or hire of Property of any kind (real or personal) under leases or lease agreements required to be capitalized under generally accepted accounting principles, (c) guaranties of the obligations of any other Person, whether
direct or indirect, whether by agreement to purchase the indebtedness of any other Person or by agreement for the furnishing of funds to any other Person through the purchase or lease of goods, supplies or services (or by way of stock purchase,
capital contribution, advance or loan) for the purpose of paying or discharging the indebtedness of any other Person, or otherwise and (d) any other obligations as are or should be shown as debt on a consolidated balance sheet in
accordance with GAAP.” 
 “‘Total Debt to Capitalization Ratio’ means the ratio of
(i) Total Debt to (ii) the sum of Total Debt plus Stockholders’ Equity.” 
 2.2 Amendment to
Section 8.02. Section 8.02 is hereby amended by deleting the words “Sections 9.01(a) and (b)” in subsection (b) thereof and replacing them with the words “Sections 9.01(a), (b) and (c)”. 

  
 2 

 2.3 Amendments to Section 9.01 (Financial Covenants). Section 9.01 is
hereby deleted and replaced in its entirety to read as follows: 
 “Section 9.01 Financial Covenants. 

(a) Interest Coverage Ratio. The Parent Guarantor will not, as of the last day of any fiscal quarter commencing
with the quarter ended December 31, 2010, permit its ratio of EBITDA (without pro forma adjustments) for the period of four fiscal quarters then ending to interest expense (determined in accordance with GAAP except that the non-cash original
issue discount component of interest expense related to Debt subject to APB 14 will be excluded from interest expense for purposes of this calculation) for such period to be less than 2.00 to 1.00. 

(b) Senior Secured Leverage Ratio. The Parent Guarantor will not, as of the last day of any fiscal quarter
commencing with the quarter ended December 31, 2010, permit its Senior Secured Leverage Ratio to be greater than 2.00 to 1.00. 
 (c) Total Debt to Capitalization Ratio. The Parent Guarantor will not, as of the last day of any fiscal quarter commencing with the quarter ended December 31, 2010, permit its Total Debt to
Capitalization Ratio to be greater than 55%.” 
 2.4 Amendments to Section 9.06 (Mergers, Acquisitions, New
Subsidiaries). 
 (a) Section 9.06(a)(4)(B) is hereby deleted and replaced in its entirety to read as follows:

 “(B) had the merger occurred on the last day of the most recently completed fiscal quarter for which internal
financial statements are available, the Senior Secured Leverage Ratio of the Parent Guarantor (on a consolidated basis with its Consolidated Subsidiaries) would be at least 0.25 below the maximum Senior Secured Leverage Ratio permitted under
Section 9.01(b) for such quarter end before an Event of Default otherwise would exist thereunder, and” 
 (b)
Section 9.06(b)(3)(B) is hereby deleted and replaced in its entirety to read as follows: 
 “(B) had the acquisition,
formation or Investment occurred on the last day of the most recently ended fiscal quarter for which internal financial statements are available, the Senior Secured Leverage Ratio of the Parent Guarantor (on a consolidated basis with its
Subsidiaries, including the new Subsidiary) would be at least 0.25 below the maximum Senior Secured Leverage Ratio permitted under Section 9.01(b) for such quarter end before an Event of Default otherwise would exist thereunder,”

 2.5 Amendments to Section 12.01(a). 
 (a) Section 12.01(a)(ii) is hereby deleted and replaced in its entirety to read as follows: 
 “(ii) if to the Administrative Agent, to it at WLS Charlotte Agency Services, 1525 W WT Harris Blvd, MAC D1109-019 Charlotte, NC 28262, Attention of Sandy Onesy (Telecopy No. 704-715-0017), with
a copy to Corbin Womac, Vice President & Relationship Manager, at 1000 Louisiana, 9th Floor, MAC T5002-090, Houston, Texas 77002, (Telecopy No. 713-739-1087);” 

  
 3 

 (b) Section 12.01(a)(iii) is hereby deleted and replaced in its entirety to read as
follows: 
 “(iii) if to the Issuing Lender, to it at WLS Charlotte Agency Services, 1525 W WT Harris Blvd, MAC D1109-019
Charlotte, NC 28262, Attention of Sandy Onesy (Telecopy No. 704-715-0017), with a copy to Corbin Womac, Vice President & Relationship Manager, at 1000 Louisiana, 9th Floor, MAC T5002-090, Houston, Texas 77002, (Telecopy
No. 713-739-1087); and” 
 2.6 Amendment to Schedule 7.15 (Subsidiaries). Schedule 7.15 to the Credit Agreement
is hereby deleted and replaced in its entirety with Schedule 7.15 to this Amendment setting forth the Parent Guarantor’s Subsidiaries. 
 2.7 Amendment to Schedule 12.01(a) (Notice Information of Additional Lenders). Schedule 12.01(a) to the Credit Agreement is hereby deleted and replaced in its entirety with Schedule 12.01(a) to
this Amendment setting forth the notice information of the Additional Lenders. 
 Section 3. Conditions Precedent. This Amendment
shall not become effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 12.02 of the Credit Agreement) (the “Second Amendment Effective Date”): 

3.1 The Administrative Agent shall have received from the Required Lenders, the Borrowers and the Parent Guarantor, counterparts (in such
number as may be requested by the Administrative Agent) of this Amendment signed on behalf of such Persons. 
 3.2 The
Administrative Agent shall have received all fees and other amounts due and payable to the Administrative Agent in connection with this Amendment (including as set forth in the Fee Letter). 

3.3 Borrowers shall have paid an amendment fee to the Administrative Agent for the ratable account of those Lenders that have delivered
executed counterparts to this Amendment not later than 2:00 p.m. (New York City time) on March 11, 2011 as set forth in the letter agreement dated as of March 4, 2011, between Hornbeck Offshore Services, LLC and Wells Fargo Securities LLC.

 3.4 The Administrative Agent shall have received a certificate signed by a duly authorized officer of the Borrowers, dated
the Second Amendment Effective Date, to the effect that after giving effect to this Amendment: (a) the representations and warranties contained in each of the Loan Documents are true and correct in all material respects on and as of the Second
Amendment Effective Date as though made on and as of such date, (except to the extent any such representation or warranty is expressly limited to an earlier date, in which case such representations and warranties are true and correct as of such
earlier date) and (b) no Default or Event of Default has occurred and is continuing. 
 3.5 The Administrative Agent shall
have received a certificate of the secretary or an assistant secretary of each Borrower and the Parent Guarantor setting forth (i) resolutions of its board of directors, members or partners with respect to the authorization of each Borrower or
the Parent Guarantor to execute and deliver this Amendment and the other Loan Documents entered into in connection herewith to which it is a party and to enter into the transactions contemplated herein and therein and (ii) certificates of the
appropriate state agencies with respect to the existence, qualification and good standing of each Borrower and the Parent Guarantor. 

  
 4 

 3.6 The Administrative Agent shall have received such other documents as the Administrative
Agent or special counsel to the Administrative Agent may reasonably request. 
 3.7 No Default or Event of Default shall have
occurred and be continuing, both prior and after giving effect to the terms of this Amendment. 
 The Administrative Agent is hereby authorized
and directed to declare this Amendment to be effective when it has received documents confirming or certifying, to the satisfaction of the Administrative Agent, compliance with the conditions set forth in this Section 3 or the waiver of such
conditions as permitted hereby. Such declaration shall be final, conclusive and binding upon all parties to the Credit Agreement for all purposes. 
 Section 4. Miscellaneous. 
 4.1 Appraisal. The Borrowers
acknowledge and hereby agree to fully cooperate with the Administrative Agent’s recent request for updated Appraisals on the Vessel Collateral, which shall be satisfactorily completed in accordance with the terms and conditions of
Section 8.18 of the Credit Agreement by no later than sixty (60) days after the Second Amendment Effective Date. The parties hereto acknowledge and hereby agree that, in accordance with the terms and conditions of Section 8.18 of the
Credit Agreement and in addition to the Appraisal required to be delivered pursuant to this Section 4.1, the Required Lenders shall be entitled to require that the Administrative Agent obtain, or the Administrative Agent may on its own
initiative obtain, Appraisals by the Surveyor with respect to the Vessel Collateral up to three (3) additional times after the Second Amendment Effective Date but prior to the Maturity Date (but in any event only four (4) times after the
Second Amendment Effective Date but prior to the Maturity Date). 
 4.2 Confirmation. The provisions of the Credit
Agreement, as amended by this Amendment, shall remain in full force and effect following the effectiveness of this Amendment. Without limiting the generality of the foregoing, the Security Instruments and all of the Collateral described therein do
and shall continue to secure the payment of all Obligations of the Loan Parties under the Loan Documents, in each case as amended by this Amendment. 
 4.3 Ratification and Affirmation; Representations and Warranties. Each Borrower and the Parent Guarantor hereby (a) ratifies and affirms its respective obligations under, and acknowledges,
renews and extends its respective continued liability under, each Loan Document to which it is a party and agrees that each Loan Document to which it is a party remains in full force and effect, except as expressly amended hereby, notwithstanding
the amendments contained herein and (b) represents and warrants to the Lenders that, as of the date hereof, after giving effect to the terms of this Amendment: (i) all of the representations and warranties contained in each Loan Document
to which it is a party are true and correct, except to the extent any such representations and warranties are expressly limited to an earlier date, in which case, such representations and warranties shall continue to be true and correct as of such
specified earlier date, (ii) no Default or Event of Default has occurred and is continuing and (iii) no Material Adverse Effect shall have occurred. 
 4.4 No Waiver. The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of the Lenders or the
Administrative Agent, nor constitute an amendment or waiver of any provision of the Credit Agreement or the other Loan Documents. 

  
 5 

 4.5 Loan Document. This Amendment is a “Loan Document” as defined and
described in the Credit Agreement and all of the terms and provisions of the Credit Agreement relating to Loan Documents shall apply hereto. On and after the Second Amendment Effective Date, each reference in the Credit Agreement to “this
Agreement”, “hereunder”, “hereof” or words of like meaning referring to the Credit Agreement, and each reference in the other Loan Documents to the “Credit Agreement”,
“thereunder”, “thereof” or words of like meaning referring to the Credit Agreement shall mean and be a reference to in each case the Credit Agreement, as amended and otherwise modified by this Amendment. 

4.6 Counterparts. This Amendment may be executed by one or more of the parties hereto in any number of separate counterparts, and
all of such counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of this Amendment by facsimile transmission shall be effective as delivery of a manually executed counterpart hereof. 

4.7 NO ORAL AGREEMENT. THIS AMENDMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS AND ANY SEPARATE LETTER AGREEMENTS WITH
RESPECT TO FEES PAYABLE TO THE ADMINISTRATIVE AGENT CONSTITUTE THE ENTIRE CONTRACT AMONG THE PARTIES RELATING TO THE SUBJECT MATTER HEREOF AND THEREOF AND SUPERSEDE ANY AND ALL PREVIOUS AGREEMENTS AND UNDERSTANDINGS, ORAL OR WRITTEN, RELATING TO THE
SUBJECT MATTER HEREOF AND THEREOF. THIS AMENDMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES HERETO AND THERETO AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT
ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES. 
 4.8 GOVERNING LAW. THIS
AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF TEXAS. 
 4.9 Payment of
Expenses. The Borrower agrees to pay or reimburse the Administrative Agent for all of its reasonable out-of-pocket costs and expenses incurred in connection with this Amendment, any other documents prepared in connection herewith and the
transactions contemplated hereby, including, without limitation, the reasonable fees and disbursements of counsel to the Administrative Agent. 
 4.10 Severability. Any provision of this Amendment which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

4.11 Successors and Assigns. This Amendment shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns. 
 [SIGNATURES BEGIN NEXT PAGE] 

  
 6 

 IN WITNESS WHEREOF, the parties hereto have caused this Second Amendment to Senior Secured Revolving Credit
Agreement to be duly executed as of the date first written above. 
  

							
	BORROWERS:	 		 	HORNBECK OFFSHORE SERVICES, LLC
				
		 		 	By:	 	 /s/ James O. Harp, Jr.

		 		 	Name:	 	James O. Harp, Jr.
		 		 	Title:	 	 Executive Vice President and

Chief Financial Officer

			
		 		 	HORNBECK OFFSHORE TRANSPORTATION, LLC
				
		 		 	By:	 	 /s/ James O. Harp, Jr.

		 		 	Name:	 	James O. Harp, Jr.
		 		 	Title:	 	 Executive Vice President and

Chief Financial Officer

		 		 	
	PARENT GUARANTOR:	 	HORNBECK OFFSHORE SERVICES, INC.
				
		 		 	By:	 	 /s/ James O. Harp, Jr.

		 		 	Name:	 	James O. Harp, Jr.
		 		 	Title:	 	 Executive Vice President and

Chief Financial Officer

 [Signature Page to Second Amendment] 

 The undersigned Lenders hereby consent to this Second Amendment to Senior Secured Revolving
Credit Agreement. 
  

					
	LENDERS:	 	WELLS FARGO BANK, N.A., as Administrative Agent, Issuing Lender and a Lender
			
		 	By:	 	 /s/ Corbin M. Womac

		 	Name:	 	Corbin M. Womac
		 	Title:	 	Vice President

 [Signature Page to Second
Amendment] 

 
			
	COMERICA BANK
		
	By:	 	 /s/ Gary Culbertson

	Name:	 	Gary Culbertson
	Title:	 	Vice President

 [Signature Page to
Second Amendment] 

 
			
	AMEGY BANK N.A.
		
	By:	 	/s/ G. Scott Collins
	Name:	 	G. Scott Collins
	Title:	 	Vice President

 [Signature Page to
Second Amendment] 

 
			
	DNB NOR BANK ASA
		
	By:	 	 /s/ Thomas Tangen

	Name:	 	Thomas Tangen
	Title:	 	 Senior Vice President
 Head
of Corporate Banking

		
	By:	 	 /s/ Evan Uhlick

	Name:	 	Evan Uhlick
	Title:	 	Vice President

 [Signature Page to
Second Amendment] 

 
			
	BNP PARIBAS
		
	By:	 	 /s/ Kai Blache

	Name:	 	Kai Blache
	Title:	 	Vice President
		
	By:	 	 /s/ Kevin O’Hara

	Name:	 	Kevin O’Hara
	Title:	 	Director

 [Signature Page to Second
Amendment] 

 
			
	JPMORGAN CHASE BANK, N.A.
		
	By:	 	 /s/ Lizette Terral

	Name:	 	Lizette Terral
	Title:	 	President, New Orleans Region

[Signature Page to Second Amendment] 

 
			
	CAPITAL ONE, N.A.
		
	By:	 	 /s/ Mark Preston

	Name:	 	Mark Preston
	Title:	 	Vice President

 [Signature Page to
Second Amendment] 

 
			
	WHITNEY NATIONAL BANK
		
	By:	 	 /s/ Eric B. Goebel

	Name:	 	Eric B. Goebel
	Title:	 	Vice President

 [Signature Page to
Second Amendment] 

 SCHEDULE 7.15 
 to Credit Agreement 
 SUBSIDIARIES 

 

			
	Parent Guarantor	  	
		
	Legal name:	  	Hornbeck Offshore Services, Inc.
		
	Current location of chief executive office or principal place of business:	  	103 Northpark Boulevard, Suite 300 Covington, Louisiana 70433
		
	Jurisdiction of organization:	  	Delaware
		
	Organization number:	  	2757751
	
	Each of the following Persons is a 100% owned subsidiary of Hornbeck Offshore Services, Inc.
		
	Borrowers	  	
		
	Legal name:	  	Hornbeck Offshore Services, LLC
		
	Current location of chief executive office or principal place of business:	  	103 Northpark Boulevard, Suite 300 Covington, Louisiana 70433
		
	Jurisdiction of organization:	  	Delaware
		
	Organization number:	  	2603868
		
	Legal name:	  	Hornbeck Offshore Transportation, LLC
		
	Current location of chief executive office or principal place of business:	  	103 Northpark Boulevard, Suite 300 Covington, Louisiana 70433
		
	Jurisdiction of organization:	  	Delaware
		
	Organization number:	  	3469782
		
	Subsidiaries	  	
		
	Legal name:	  	HOS-IV, LLC
		
	Current location of chief executive office or principal place of business:	  	103 Northpark Boulevard, Suite 300 Covington, Louisiana 70433
		
	Jurisdiction of organization:	  	Delaware
		
	Organization number:	  	3664519
		
	Legal name:	  	Hornbeck Offshore Trinidad & Tobago, LLC
		
	Current location of chief executive office or principal place of business	  	103 Northpark Boulevard, Suite 300 Covington, Louisiana 70433
		
	Jurisdiction of organization:	  	Delaware

 Schedule 7.15

 to Credit Agreement 

			
	Organization number:	  	3756721
		
	Legal name:	  	Hornbeck Offshore Operators, LLC
		
	Current location of chief executive office or principal place of business:	  	103 Northpark Boulevard, Suite 300 Covington, Louisiana 70433
		
	Jurisdiction of organization:	  	Delaware
		
	Organization number:	  	2757747
		
	Legal name:	  	Energy Services Puerto Rico, LLC
		
	Current location of chief executive office or principal place of business:	  	103 Northpark Boulevard, Suite 300 Covington, Louisiana 70433
		
	Jurisdiction of organization:	  	Delaware
		
	Organization number:	  	3469783
		
	Legal name:	  	RAPID Marine Response, LLC
		
	Current location of chief executive office or principal place of business:	  	103 Northpark Boulevard, Suite 300 Covington, Louisiana 70433
		
	Jurisdiction of organization:	  	Delaware
		
	Organization number:	  	3855226
		
	Legal name:	  	Hornbeck Offshore International, LLC
		
	Current location of chief executive office or principal place of business:	  	103 Northpark Boulevard, Suite 300 Covington, Louisiana 70433
		
	Jurisdiction of organization:	  	Delaware
		
	Organization number:	  	3920301
		
	Legal name:	  	HOS Port, LLC
		
	Current location of chief executive office or principal place of business:	  	103 Northpark Boulevard, Suite 300 Covington, Louisiana 70433
		
	Jurisdiction of organization:	  	Delaware
		
	Organization number:	  	4077391
		
	Legal name:	  	Hornbeck Offshore Rigging Services & Equipment, LLC
		
	Current location of chief executive office or principal place of business:	  	103 Northpark Boulevard, Suite 300 Covington, Louisiana 70433
		
	Jurisdiction of organization:	  	Delaware
		
	Organization number:	  	4366577

 Schedule 7.15

 to Credit Agreement 

			
	Legal name:	  	Hornbeck Offshore Specialty Services, LLC
		
	Current location of chief executive office or principal place of business:	  	103 Northpark Boulevard, Suite 300 Covington, Louisiana 70433
		
	Jurisdiction of organization:	  	Delaware
		
	Organization number:	  	4379725
	
	The following Person is a 49% owned subsidiary of Hornbeck Offshore Services, LLC
		
	Legal name:	  	Hornbeck Offshore Services de Mexico, S. de R.L. de C.V.
		
	Current location of chief executive office or principal place of business:	  	103 Northpark Boulevard, Suite 300 Covington, Louisiana 70433
		
	Jurisdiction of organization:	  	Mexico
		
	Organization number:	  	0389382
	
	Each of the following Persons is a 99% owned subsidiary of Hornbeck Offshore Services, LLC and a 1% owned subsidiary of Hornbeck Offshore International,
LLC
		
	Legal name:	  	HOS Leasing de Mexico, S.A. de C.V. SOFOM E.N.R.
		
	Current location of chief executive office or principal place of business:	  	103 Northpark Boulevard, Suite 300 Covington, Louisiana 70433
		
	Jurisdiction of organization:	  	Mexico
		
	Organization number:	  	98203
		
	Legal name:	  	Hornbeck Offshore Operators de Mexico, S. de R.L. de C.V.
		
	Current location of chief executive office or principal place of business:	  	103 Northpark Boulevard, Suite 300 Covington, Louisiana 70433
		
	Jurisdiction of organization:	  	Mexico
		
	Organization number:	  	390994
	
	The following Person is a 100% owned subsidiary of Hornbeck Offshore International, LLC
		
	Legal name:	  	Hornbeck Offshore Cayman, Ltd.
		
	Current location of chief executive office or principal place of business:	  	103 Northpark Boulevard, Suite 300 Covington, Louisiana 70433
		
	Jurisdiction of organization:	  	Cayman Islands
		
	Organization number:	  	CT 145149

 Schedule 7.15

 to Credit Agreement 

			
	The following Person is a 100% owned subsidiary of Hornbeck Offshore Cayman, Ltd.
		
	Legal name:	  	Seahorse Crew Management, Ltd.
		
	Current location of chief executive office or principal place of business:	  	103 Northpark Boulevard, Suite 300 Covington, Louisiana 70433
		
	Jurisdiction of organization:	  	Cayman Islands
		
	Organization number:	  	CT 145162
	
	Each of the following Persons is a 1% owned subsidiary of Hornbeck Offshore Services, LLC and a 99% owned subsidiary of Hornbeck Offshore International,
LLC
		
	Legal name:	  	Hornbeck Offshore Operacoes do Brasil LTDA
		
	Current location of chief executive office or principal place of business:	  	 Avenida Presidente Vargas 509

10 andar
 Centro

CEP 20071-003103

		
	Jurisdiction of organization:	  	Brazil
		
	Organization number:	  	12.147.863/0001-75

 Schedule 7.15

 to Credit Agreement 

 SCHEDULE 12.01(a) 

to Credit Agreement 
 NOTICE INFORMATION OF ADDITIONAL LENDERS 
 Wells Fargo
Bank, N.A. 
 WLS Charlotte Agency Services 

1525 W WT Harris Blvd 
 MAC D1109-019 
 Charlotte, NC 28262 

Attention of Sandy Onesy 
 FAX: 704-715-0017 
 With a copy to: 

Wells Fargo Bank, N.A. 
 Corbin Womac, Vice President & Relationship Manager 
 1000
Louisiana, 9th Floor 
 MAC T5002-090 

Houston, Texas 77002 
 FAX: 713-739-1087 
 Email: Corbin.M.Womac@wellsfargo.com

 Comerica Bank 
 Gary Culbertson 
 910 Louisiana, #410 

Houston, TX 77002 
 Telephone: 713-220-5522 
 FAX: 713-220-5581 

Email: gculbertson@comerica.com 

JPMorgan Chase Bank N.A. 
 Kathy Seelman 
 201 Saint Charles Ave., Floor 28 

New Orleans, LA 70170-1000 
 Telephone: 504-623-7910 
 FAX: 504-623-1915 

Email: Kathy.S.Seelman@Chase.com 

Amegy Bank N.A. 
 Ross Bartley 
 4400 Post Oak Pkwy. 

Houston, TX 77027 
 Telephone: 713-232-2169 
 FAX; 713-693-7475 

Email: ross.bartley@amegybank.com 
 Schedule 12.01(a) 
 to Credit Agreement 

 DnB Nor Bank ASA 

Peder Hanssen 
 200 Park Avenue, Floor 31 
 New York, NY 10166 

Telephone: 212-681-3865 
 FAX: 212-681-3900 
 Email: peder.hanssen@dnbnor.no

 BNP Paribas 
 Kai Blache 
 520 Madison Ave, 3rd Floor 

New York, NY 10022 
 Telephone: 212-340-5378 
 FAX: 212-340-5370 

Email: kai.blache@us.bnpparibas.com 

Capital One N.A. 
 Mark Preston 
 201 St. Charles Avenue, 29th Floor 

New Orleans, LA 70170 
 Telephone: 504.533.2144 
 FAX: 504.533.2060 

Email: mark.preston@capitalonebank.com 

Schedule 12.01(a) 
 to Credit AgreementThird Amendment

 Exhibit 10.1 
 THIRD AMENDMENT TO EMPLOYMENT AGREEMENT 
 This Amendment (the
“Amendment”) to the Employment Agreement, by and between Motorola, Inc. and Sanjay K. Jha (the “Executive”) dated August 4, 2008, as amended on December 15, 2008 and as amended again on
February 11, 2010 (the “Employment Agreement,” the liabilities of which were assumed by Motorola Mobility Holdings, Inc. on December 13, 2010,) is effective as of March 15, 2011 unless an earlier date is
specified below. Capitalized terms used herein and not otherwise defined shall have the meanings ascribed to such terms in the Employment Agreement. 
 1. Section 3(b)(vii) of the Employment Agreement is hereby amended and restated in its entirety as set forth below, with italics herein highlighting newly-added text: 

(vii) Housing. Executive shall maintain a residence in the greater Chicago, Illinois area following the Commencement Date, and
thereafter, during the Employment Period. Executive shall be entitled to a housing allowance of $7,400 per month (with adjustment on each anniversary date of the Effective Date for reasonable increases in rent, related expenses, and parking)
until the end of the Employment Period. 
 2. Section 8 of the Employment Agreement (titled “Certain Additional
Payments by the Company” and relating solely to a gross-up tax payment for golden parachute taxes) is hereby amended and restated in its entirety as set forth below (without any italicized text because the changes are extensive and
pervasive): 
 8. Limitation on Payments Under Certain Circumstances. 

(a) In the event of a Change of Control as defined in Section 5(f) of this Agreement, and a nationally recognized
accounting firm as may be selected by the Company prior to a Change of Control (the “Accounting Firm”) shall determine that receipt of all Payments would subject the Executive to the Excise Tax, the Accounting Firm shall determine
whether to reduce any of the Payments paid or payable pursuant to this Agreement (the “Agreement Payments”) so that the Parachute Value of all Payments, in the aggregate, equals the Safe Harbor Amount. The Agreement Payments shall
be so reduced only if the Accounting Firm determines that the Executive would have a greater Net After-Tax Amount of aggregate Payments if the Agreement Payments were so reduced. If the Accounting Firm determines that the Executive would not have a
greater Net After-Tax Amount of aggregate Payments if the Agreement Payments were so reduced, the Executive shall receive all Agreement Payments to which the Executive is entitled hereunder. 

(b) If the Accounting Firm determines that aggregate Agreement Payments should be reduced so that the Parachute Value of
all Payments, in the aggregate, equals the Safe Harbor 

 
Amount, the Company shall promptly give the Executive notice to that effect and a copy of the detailed calculation thereof. All determinations made by the Accounting Firm under this
Section 8 shall be binding upon the Company and the Executive and shall be made as soon as reasonably practicable and in no event later than 5 days following the Date of Termination. For purposes of reducing the Agreement Payments so that the
Parachute Value of all Payments, in the aggregate, equals the Safe Harbor Amount, only amounts payable under this Agreement (and no other Payments) shall be reduced. The reduction of the amounts payable hereunder, if applicable, shall be made by
reducing the payments and benefits under the following sections of this Agreement in the following order: (i) any severance payment that is based on a multiple of Annual Base Salary and/or Target Bonus; (ii) any amount of a pro-rata Annual
Bonus based on actual performance that is treated as a Payment; (iii) amounts of any medical premiums paid on behalf of the Executive; (iv) the acceleration of vesting of stock options with an exercise price that exceeds the then fair
market value (as reported then or most recently beforehand for the New York Stock Exchange-Composite Transactions in the Wall Street Journal at www.online.wsj.com) of the Common Stock subject to the award, provided that such stock options are
not permitted to be valued under Treasury Regulation Section 1.280G-1 Q/A – 24(c); (v) any equity awards accelerated or otherwise valued at full value, provided that such equity awards are not permitted to be valued under Treasury
Regulation Section 1.280G-1 Q/A – 24(c); (vi) the acceleration of vesting of stock options with an exercise price that exceeds the then fair market value (as reported then or most recently beforehand for the New York Stock
Exchange-Composite Transactions in the Wall Street Journal at www.online.wsj.com) of the Common Stock subject to the award and other equity awards, provided that such stock options and other equity awards are permitted to be valued under
Treasury Regulation Section 1.280G-1 Q/A – 24(c); and (vii) the acceleration of vesting of all other stock options and equity awards; provided that with each category the reduction shall be done on a basis resulting in the highest
amount retained by the Executive; and provided, further, that to the extent permitted by Section 409A of the Code and Sections 280G and 4999 of the Code, if a different reduction procedure would be permitted without violating Section 409A
of the Code or losing the benefit of the reduction under Sections 280G and 4999 of the Code, the Executive may designate a different order of reduction, with such designation being made by the Executive in a written notice sent to the Company not
later than twenty (20) days after the Executive’s Date of Termination. All fees and expenses of the Accounting Firm shall be borne solely by the Company. 

(c) As a result of the uncertainty in the application of Section 4999 of the Code at the time of the initial
determination by the Accounting Firm hereunder, it is possible that amounts will have been paid or distributed by the Company to or for the benefit of the Executive pursuant to this Agreement which should not have been so paid or distributed
(“Overpayment”) or that additional amounts which will have not been paid or distributed by the Company to or for the benefit of the Executive pursuant to this Agreement could have been so paid or distributed (“Section 8
Underpayment”), in each case, consistent with the calculation of the Safe Harbor Amount hereunder. In the event that the Accounting Firm, based upon the assertion of a 

 
deficiency by the Internal Revenue Service against either the Company or the Executive which the Accounting Firm believes has a high probability of success, determines that an Overpayment has
been made, the Executive shall pay promptly (and in no event later than 60 days following the date on which the Overpayment is determined) pay any such Overpayment to the Company together with interest at the applicable federal rate provided for in
Section 7872(f)(2) of the Code; provided, however, that no amount shall be payable by the Executive to the Company if and to the extent such payment would not either reduce the amount on which the Executive is subject to tax under
Section 1 and Section 4999 of the Code or generate a refund of such taxes. In the event that the Accounting Firm, based upon controlling precedent or substantial authority, determines that a Section 8 Underpayment has occurred, any
such Section 8 Underpayment shall be paid promptly (and in no event later than 60 days following the date on which the Section 8 Underpayment is determined) by the Company to or for the benefit of the Executive together with interest at
the applicable federal rate provided for in Section 7872(f)(2) of the Code. 
 (d) Definitions. The
following terms shall have the following meanings for purposes of this Section 8. 
 (i) “Excise
Tax” shall mean the excise tax imposed by Section 4999 of the Code, together with any interest or penalties imposed with respect to such excise tax. 

(ii) “Net After-Tax Amount” of a Payment shall mean the Parachute Value of a Payment net of all taxes
imposed on the Executive with respect thereto under Sections 1 and 4999 of the Code and applicable state and local law, determined by applying the highest marginal rates that are expected to apply to Executive’s taxable income for the
taxable year in which the Payment is made. 
 (iii) “Parachute Value” of a Payment shall mean
the present value as of the date of the Change of Control for purposes of Section 280G of the Code of the portion of such Payment that constitutes a “parachute payment” under Section 280G(b)(2), as determined by the Accounting
Firm for purposes of determining whether and to what extent the Excise Tax will apply to such Payment. 
 (iv)
“Payment” shall mean any payment or distribution in the nature of compensation (within the meaning of Section 280G(b)(2) of the Code) to or for the benefit of the Executive, whether paid or payable pursuant to this Agreement or
otherwise. 
 (v) “Safe Harbor Amount” means the maximum Parachute Value of all Payments that
the Executive can receive without any Payments being subject to the Excise Tax. 
 3. Except as expressly amended by this
Amendment, all terms and conditions of the Employment Agreement remain in full force and effect and are unmodified hereby. 

 IN WITNESS WHEREOF, the parties have caused this Amendment to be executed as of the
day and year above written. 
  

			
	SANJAY K. JHA
	
	 /s/ Sanjay K. Jha

	
	MOTOROLA MOBILITY HOLDINGS, INC.
	
	 /s/ James Stengel

	Name:	 	James Stengel
	Title:	 	Chairman, Compensation and
		 	Leadership Committee

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