Company: RIG
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001451505-25-000029
Chunk: 148

Company: Transocean Ltd.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 148
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 York Stock Exchange or on such other securities exchange or reporting system Transocean 2025 APC-2 Proxy Statement

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| ​ | APPENDIX C |

as may be designated by the Committee. In the event that the price of a Share shall not be so reported, the Fair Market Value of a Share shall be determined by the Committee in its absolute discretion. “ Grant Date” means the date an Award is granted to a Participant pursuant to this Plan. “ Incentive Stock Option” means an Option that is intended to comply with the requirements set forth in Code Section 422. “ Nonqualified Stock Option” means an Option that is not intended to comply with the requirements set forth in Code Section 422. “ Option” means a right to purchase a specified number of Shares at a specified Exercise Price, which is either an Incentive Stock Option or a Nonqualified Stock Option. “ Participant” means an Employeeor Director to whom an Award has been made under this Plan. “ Performance Award” means an Award made pursuant to this Plan to a Participant which is subject to the attainment of one or more Performance Objectives. “ Performance Objective” means one or more standards established by the Committee to determine in whole or in part whether a Performance Award shall be earned. “ Performance Unit” means a unit evidencing the right to receive in specified circumstances one Share or equivalent value in cash, determined as a function of the extent to which established performance criteria have been satisfied. “ Performance Unit Award” means an Award in the form of Performance Units. “ Prior Plan” means the Long-Term Incentive Plan of Transocean Ltd., as amended and restated as of February 12, 2009. “ Restricted Share Award” means an Award in the form of Restricted Shares. “ Restricted Shares” means a Share that is restricted or subject to forfeiture provisions. “ Restricted Share Unit” means a unit evidencing the right to receive in specified circumstances one Share or equivalent value in cash that is restricted or subject to forfeiture provisions. “ Restricted Share Unit Award” means an Award in the form of Restricted Share Units. “ Restriction Period” means a period of time beginning as of the date upon which a Restricted Share Award or Restricted Share Unit Award is made pursuant to this Plan and ending as of the date upon which such Award is no longer restricted or subject to forfeiture provisions. “ Share Appreciation Right” or “ SAR” means a right to receive a payment, in cash or Shares, equal to the excess of the Fair