Company: RIG
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001451505-25-000029
Chunk: 145

Company: Transocean Ltd.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 145
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 website is not incorporated by reference into this Report and should not be considered a part of this Report or any other filing that we make with the SEC. References to website URLs are intended to be inactive textual references only. ** ** ** Transocean 2025 APB-12 Proxy Statement

APPENDIX C Amended and Restated Transocean Ltd. 2015 Long-Term Incentive Plan T RANSOCEAN LTD. 2015 LONG-TERM INCENTIVE PLAN (as amended and restated effective May ___, 2025)

| 2. | Objectives.  This Plan is designed to attract and retain employees of the Company and its Subsidiaries, to attract and retain qualified non-employee directors of the Company, to encourage the sense of proprietorship of such employees and directors and to stimulate the active interest of such persons in the development and financial success of the Company and its Subsidiaries.  These objectives are to be accomplished by making Awards under this Plan and thereby providing Participants with a proprietary interest in the growth and performance of the Company and its Subsidiaries. |

| 3. | Definitions.  As used herein, the terms set forth below shall have the following respective meanings: |

“ Award” means the grant of any Option, Share Appreciation Right, Share-Based Award or Cash Award, any of which may be structured as a Performance Award, whether granted singly, in combination or in tandem, to a Participant pursuant to such applicable terms, conditions and limitations as the Committee may establish in accordance with the objectives of this Plan. “ Award Agreement” means the document (in written or electronic form) communicating the terms, conditions and limitations applicable to an Award. The Committee may, in its discretion, require that the Participant execute such Award Agreement or may provide for procedures through which Award Agreements are made effective without execution. “ Board” means the Board of Directors of the Company. “ Cash Award” means an Award denominated in cash. “ Change of Control” means: (i) The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a “ Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 50% or more of either (x) the then outstanding shares of the Company (the “ Outstanding Company Shares”) or (y) the combined voting power of the then