On July 19, 2016, Weatherford International plc and certain subsidiaries of the company entered into Amendment No. 1 to Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, and the other lenders and parties thereto. Pursuant to the amendment, the company modified its existing senior revolving credit facility to add an accordion feature to permit new and existing lenders to add up to a maximum of $250 million in additional commitments and to make minor changes to certain terms and definitions. See exhibit 10.1 for details.

Also on July 19, 2016, the company and certain subsidiaries of the Company entered into Amendment No. 1 to Term Loan Agreement with JPMorgan Chase Bank, N.A., as administrative agent, and the other lenders and parties thereto. Pursuant to the amendment, the Company amended its existing term loan agreement to make minor changes to certain terms and definitions. See exhibit 10.2 for details.

Weatherford is one of the largest multinational oilfield service companies providing innovative solutions, technology and services to the oil and gas industry. The Company operates in over 100 countries and has a network of approximately 1,100 locations, including manufacturing, service, research and development, and training facilities and employs approximately 33,100 people.