WFTLF 10-K Annual Report Dec. 31, 2019 | Alphaminr
Weatherford International plc

WFTLF 10-K Fiscal year ended Dec. 31, 2019

WEATHERFORD INTERNATIONAL PLC
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TABLE OF CONTENTS
Part I Accounting For Certain Financial Instruments with Down Round FeaturesItem 8 | Notes To The Consolidated Financial StatementsNote 9 Long-lived Asset Impairments and Asset Write-downsNote 15 Fair Value Of Financial Instruments, Assets and Other AssetsNote 7 Business Combinations and DivestituresNote 11 Restructuring, Facility Consolidation and Severance ChargesNote 1 Summary Of Significant Accounting PoliciesNote 23 RevenuesNote 2 Emergence From Chapter 11 Bankruptcy ProceedingsNote 3 Fresh Start AccountingNote 13 Short-term Borrowings and Other Debt ObligationsNote 16 Derivative InstrumentsNote 10 Goodwill and Intangible AssetsNote 20 Shareholders Equity (deficiency)Item 9 | Changes in and Disagreement with Accountants on Accounting and Financial DisclosureItem 9. Changes in and Disagreement with Accountants on Accounting and Financial DisclosureItem 9A. Controls and ProceduresItem 9B. Other InformationItem 10 | Directors, Executive Officers and Corporate GovernancePart IIIItem 10. Directors, Executive Officers and Corporate GovernanceItem 1. BusinessItem 11. Executive CompensationItem 12. Security Ownership Of Certain Beneficial Owners and Management and Related Stockholder MattersItem 12(d). Securities Authorized For Issuance Under Equity Compensation Plan InformationItem 12(d)Item 15 | ExhibitsItem 13. Certain Relationships and Related Transactions, and Director IndependenceItem 14. Principal Accounting Fees and ServicesPart IVItem 15. Exhibits, Financial Statement SchedulesItem 16. Form 10-k Summary

Exhibits

2.1 Second Amended Joint Prepackaged Plan of Reorganization of Weatherford International plc and its Affiliate Debtors, dated September 9, 2019. Exhibit 99.1 of the Companys Current Report on Form 8-K filed onSeptember 10, 2019 File No. 1-36504 3.1 Amended and Restated Memorandum and Articles of Association of Weatherford International public limited company. Exhibit 3.1 of theCompanys CurrentReport on Form 8-Kfiled December 18, 2019 File No. 1-36504 4.1 Description of the Securities. 4.2 Indenture, dated December 13, 2019, by and among Weatherford International Ltd., as issuer, the guarantors thereto and Deutsche Bank Trust Company Americas, as trustee. Exhibit 4.1 of the Companys CurrentReport on Form 8-Kfiled December 18, 2019 File No. 1-36504 4.3 Form of Senior Note. Included in Exhibit 4.1 of the Companys CurrentReport on Form 8-Kfiled December 18, 2019 File No. 1-36504 4.4 Form of Warrant Certificate. Included in Exhibit 10.4 of the Companys CurrentReport on Form 8-Kfiled December 18, 2019 File No. 1-36504 *10.1 Deed Poll of Assumption, dated June 16, 2014, executed by Weatherford Ireland Exhibit 10.3 of theCompany's CurrentReport on Form 8-K12Bfiled June 17, 2014 File No. 1-36504 *10.2 Employment Letter, dated March 3, 2017, between Weatherford International plc and Mark A. McCollum Exhibit 10.3 to theCompany's QuarterlyReport on Form 10-Qfor the quarter endedMarch 31, 2017 filedApril 28, 2017 File No. 1-36504 *10.3 Offer Letter between Weatherford International Ltd. and Christian A. Garcia. *10.4 Form of Deed of Indemnity of Weatherford International plc entered into by each director of Weatherford International plc and each of the following executive officers of Weatherford International plc: Mark McCollum (April 24, 2017), Christina Ibrahim (May 4, 2015), Karl Blanchard (August 21, 2017) and Christian A. Garcia (January 6, 2020). Exhibit 10.11 of theCompany's CurrentReport on Form 8-K12Bfiled June 17, 2014 File No. 1-36504 *10.5 Form of Deed of Indemnity of Weatherford International Ltd entered into by each director of Weatherford International plc and each of the following executive officers of Weatherford International plc: Mark McCollum (April 24, 2017), Christina Ibrahim (May 4, 2015) and Christian A. Garcia (January 6, 2020). Exhibit 10.12 of theCompany's CurrentReport on Form 8-K12Bfiled June 17, 2014 File No. 1-36504 *10.6 Deed of Indemnity of Weatherford Bermuda entered into by Karl Blanchard (August 21, 2017) Exhibit 10.4 of the Companys QuarterlyReport on Form 10-Qfor the quarter ended September 30, 2017, filed November 1, 2017 File No. 1-36504 10.7 Sale and Purchase Agreement between Weatherford Worldwide Holdings GmbH and ADES International Holding Ltd. for the land drilling rigs operations in Saudi Arabia, dated as of July 11, 2018. Exhibit 10.6 of the Companys QuarterlyReport on Form 10-Qfor the quarter endedSeptember 30, 2018,filed November 2, 2018 File No. 1-36504 10.8 Sale and Purchase Agreement between Weatherford Worldwide Holdings GmbH and ADES International Holding Ltd. for the land drilling rigs operations in Algeria and Kuwait, dated as of July 11, 2018. Exhibit 10.7 of the Companys QuarterlyReport on Form 10-Qfor the quarter endedSeptember 30, 2018, filedNovember 2, 2018 File No. 1-36504 10.9 Bridging Agreement between Weatherford Worldwide Holdings GmbH and ADES International Holding Ltd., for the sale of land drilling rigs operations dated as of July 11, 2018. Exhibit 10.8 of the Companys QuarterlyReport on Form 10-Qfor the quarter endedSeptember 30, 2018, filedNovember 2, 2018 File No. 1-36504 10.10 Letter Agreement between Weatherford Worldwide Holdings GmbH and ADES International Holdings Ltd. dated October 31, 2018. Exhibit 10.46 of theCompanys AnnualReport on Form 10-Kfor the year endedDecember 31, 2018 File No. 1-36504 10.11 Letter Agreement between Weatherford Worldwide Holdings GmbH and ADES International Holdings Ltd. dated November 30, 2018. Exhibit 10.47 of theCompanys AnnualReport on Form 10-Kfor the year endedDecember 31, 2018 File No. 1-36504 *10.12 2019 Executive Bonus Plan. Exhibit 99.1 of the Companys Form 8-K filed April 2, 2019 File No. 1-36504 *10.13 Form of Retention Award. Exhibit 99.2 of the Companys Form 8-K filed April 2, 2019 File No. 1-36504 10.14 Letter Agreement by and between Weatherford Worldwide Holding GmbH and ADES International Holdings plc, dated February 27, 2019. Exhibit 10.3 of the Companys QuarterlyReport on Form 10-Qfor the quarter endedMarch 31, 2019,filed May 10, 2019 File No. 1-36504 10.15 Letter Agreement by and between Weatherford Worldwide Holding GmbH and ADES International Holdings plc, dated March 18, 2019. Exhibit 10.4 of the Companys QuarterlyReport on Form 10-Qfor the quarter endedMarch 31, 2019,filed May 10, 2019 File No. 1-36504 10.16 Letter Agreement by and between Weatherford Worldwide Holding GmbH and ADES International Holdings plc, dated March 25, 2019. Exhibit 10.5 of the Companys QuarterlyReport on Form 10-Qfor the quarter endedMarch 31, 2019,filed May 10, 2019 File No. 1-36504 10.17 Weatherford International Ltd. (Switzerland) Executive Non-Equity Incentive Plan (as amended and restated February 27, 2014) to be effective January 1, 2014 Exhibit 10.1 of the Companys Current Reporton Form 8-K filedMarch 4, 2014 File No. 1-34258 10.18 Restructuring Support Agreement by and among Weatherford International plc, Weatherford International Ltd., Weatherford International, LLC and the Consenting Creditors, dated as of May 10, 2019. Exhibit 10.1 of the Companys Form 8-Kfiled May 13, 2019 File No. 1-36504 10.19 First Amendment to the Restructuring Support Agreement, by and among Weatherford International plc, Weatherford International Ltd., Weatherford International, LLC and certain noteholders party thereto, dated as of July 1, 2019. Exhibit 10.2 of the Companys Current Reporton Form 8-K filed onJuly 2, 2019 File No. 1-36504 10.20 Second Amendment to Restructuring Support Agreement by and among Weatherford International plc, Weatherford International Ltd., Weatherford International, LLC and the Consenting Creditors, dated as of August 23, 2019. Exhibit 10.1 of the Companys Current Reporton Form 8-K filed onAugust 26, 2019 File No. 1-36504 10.21 Third Amendment to the Restructuring Support Agreement by and among Weatherford International plc, its Affiliate Debtors and the noteholders party thereto, dated as of September 9, 2019. Exhibit 10.1 of the Companys Current Report on Form 8-K filed onSeptember 10, 2019 File No. 1-36504 10.22 Backstop Commitment Agreement, by and among Weatherford International plc, Weatherford International Ltd., Weatherford International, LLC and the commitment parties thereto, dated as of July 1, 2019. Exhibit 10.1 of the Companys Current Reporton Form 8-K filed onJuly 2, 2019 File No. 1-36504 10.23 First Amendment to Backstop Commitment Agreement by and among Weatherford International plc, its Affiliate Debtors and the Commitment Parties, dated as of July 1, 2019. Exhibit 10.2 of the Companys Current Reporton Form 8-K filed onSeptember 10, 2019 File No. 1-36504 10.24 Credit Agreement Forbearance Agreement by and among Weatherford International plc, Weatherford International Ltd., Weatherford International, LLC and the lenders under the Credit Agreement party thereto and JPMorgan Chase Bank, N.A., as administrative agent, dated as of July 1, 2019. Exhibit 10.3 of the Companys Current Reporton Form 8-K filed onJuly 2, 2019 File No. 1-36504 10.25 Term Loan Forbearance Agreement by and among Weatherford International plc, Weatherford International Ltd., Weatherford International, LLC and the lenders under the Term Loan party thereto and JPMorgan Chase Bank, N.A., as administrative agent, dated as of July 1, 2019. Exhibit 10.4 of theCompanys Current Reporton Form 8-K filed onJuly 2, 2019 File No. 1-36504 10.26 364-Day Forbearance Agreement by and among Weatherford International plc, Weatherford International Ltd., Weatherford International, LLC and the lenders under the 364-Day Credit Agreement, dated as of July 1, 2019. Exhibit 10.5 of theCompanys Form 8-Kfiled July 2, 2019 File No. 1-36504 10.27 Swap Agreement Forbearance Agreement by and among Weatherford International plc, Weatherford International Ltd., Weatherford International, LLC and the lenders under the swap agreements, dated as of July 1, 2019. Exhibit 10.6 of the Companys Form 8-Kfiled July 2, 2019 File No. 1-36504 10.28 Senior Secured Superpriority Debtor-In-Possession Credit Agreement, by and among Weatherford International plc, Weatherford International, Ltd., Weatherford International, LLC and the Lenders thereto and Citibank, N.A. as administrative agent, collateral agent and issuing bank, dated July 3, 2019. Exhibit 10.1 of theCompanys Form 8-Kfiled July 5, 2019 File No. 1-36504 10.29 Exit Facility Commitment Letter, dated as of November 11, 2019. Exhibit 10.1 of the Companys Current Reporton Form 8-K filed onNovember 13, 2019 File No. 1-36504 10.30 Amendment to Forbearance Agreement by and among Weatherford International plc, Weatherford International Ltd., WOFS Assurance Limited, and certain subsidiaries of Weatherford International plc, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent for the Lenders, dated November 14, 2019. Exhibit 10.1 of theCompanys CurrentReport on Form 8-Kfiled November 15, 2019 File No. 1-36504 10.31 Second Amendment to Backstop Commitment Agreement, by and among Weatherford International plc, its Affiliate Debtors and the Commitment Parties, dated as of November 25, 2019. Exhibit 10.1 of theCompanys CurrentReport on Form 8-Kfiled November 26, 2019 File No. 1-36504 10.32 ABL Credit Agreement by and among Weatherford International Ltd., Weatherford International plc, Weatherford International LLC, Wells Fargo Bank, N.A. and the lenders party thereto from time to time, dated December 13, 2019. Exhibit 10.1 of theCompanys CurrentReport on Form 8-Kfiled December 18, 2019 File No. 1-36504 10.33 LC Credit Agreement by and among Weatherford International Ltd., Weatherford International plc, Weatherford International LLC, Deutsche Bank Trust Company Americas and the lenders party thereto from time to time, dated December 13, 2019. Exhibit 10.2 of theCompanys CurrentReport on Form 8-Kfiled December 18, 2019 File No. 1-36504 10.34 Intercreditor Agreement by and between Wells Fargo Bank, N.A., Deutsche Bank Trust Company Americas, Weatherford International plc and the grantors party there to from time to time, dated December 13, 2019. Exhibit 10.3 of theCompanys CurrentReport on Form 8-Kfiled December 18, 2019 File No. 1-36504 10.35 Warrant Agreement by and between Weatherford International plc and American Stock Transfer & Trust Company, LLC, dated December 13, 2019. Exhibit 10.4 of theCompanys CurrentReport on Form 8-Kfiled December 18, 2019 File No. 1-36504 10.36 Registration Rights Agreement by and among Weatherford International plc and certain stockholders thereto, dated December 13, 2019. Exhibit 10.5 of theCompanys CurrentReport on Form 8-Kfiled December 18, 2019 File No. 1-36504 *10.37 Form of Change in Control Agreement entered into by each of the following executive officers of Weatherford International plc: Mark McCollum (April 24, 2017), Christina Ibrahim (May 4, 2015), Karl Blanchard (August 21, 2017), Christian A. Garcia (January 6, 2020) and Stuart Fraser (April 15, 2018) Exhibit 10.1 of the Companys Current Report on Form 8-K filed on December 15, 2016 File No. 1-36504 *10.38 Form of Amendment to Change in Control Agreement entered into by each of the following executive officers of Weatherford International plc: Mark McCollum, Christina Ibrahim, Karl Blanchard and Stuart Fraser, each such amendment effective as of December 13, 2019. Exhibit 10.7 of theCompanys CurrentReport on Form 8-Kfiled December 18, 2019 File No. 1-36504 *10.39 Weatherford International plc 2019 Equity Incentive Plan. Exhibit 10.8 of theCompanys CurrentReport on Form 8-Kfiled December 18, 2019 File No. 1-36504 21.1 Subsidiaries of Weatherford International plc 31.1 Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 31.2 Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 32.1 Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 32.2 Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002