Company: NE-WTA
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001628280-25-015025
Chunk: 70

Company: Noble Corp plc
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 70
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pitude.

(2) “Good reason” is generally defined (subject to certain cure periods and rights) as:

• a material diminution in the Executive’s position (including titles and reporting requirements), duties, functions, responsibilities or authority;

• a reduction in salary or bonus (other than as part of an “across the board” pay cut for all senior executives);

• the Company requiring the executive to be based at any office or location other than as provided the agreement;

• any failure by the Company to comply with provisions of the agreement relating to taxation, including compliance with Section 409A of the Internal Revenue Code; or

• any other action or inaction that constitutes a material breach by the Company of the agreement or another compensation arrangement with the executive.

(3) “Change of control” is generally defined, under the employment agreements, as:

• the acquisition of more than 50 percent of either of the Company’s outstanding shares or combined voting power of outstanding voting securities;

• individuals who constituted the incumbent board of directors of the Company ceased for any reason to constitute a majority of the board;

• consummation of a reorganization, merger, amalgamation or consolidation of the Company, unless following such a transaction, 50 percent of the then outstanding shares and the combined voting power were then owned by our pre-transaction shareholders in substantially the same proportion as their ownership immediately prior to such transaction; or

• consummation of a sale or other disposition of all or substantially all of the assets of the Company, other than to a company for which following such a transaction, 50 percent of the then outstanding shares and the combined voting power were then owned by our pre-transaction shareholders in substantially the same proportion as their ownership immediately prior to such transaction.

(4) In the event of termination of employment by the Company without “Cause” or by the NEO for “Good Reason” (not in connection with a “Change of Control”), the severance amount payable is equal to the sum of the NEOs base salary and target annual bonus times a multiple of 2.0 for the CEO and 1.0 for all our other NEOs. In the event of termination of employment in connection with a “Change of Control”), the severance amount payable is equal to the sum of the NEOs base salary and target annual bonus times a multiple of 3.0 for the CEO and 2.0 for all our other NEOs.

(5) If the employment for any of our NEOs terminates as a result