Company: RIG
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001451505-25-000029
Chunk: 107

Company: Transocean Ltd.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 107
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 of the Executive Management Team are not eligible to participate in the Executive Severance Benefit Policy. Executive Compensation Governance, Policy and Practice The Committee is responsible for the executive compensation program design and decision-making process. The Committee solicits input from independent members of the Board of Directors, the Chief Executive Officer, other members of management, and the independent compensation consultant to assist with its responsibilities. The following summarizes the roles of each of the key participants in the executive compensation decision-making process. COMPENSATION COMMITTEE The Committee is composed solely of members of the Board of Directors who

| (i) | are not employees of the Company, and |

| (ii) | meet the independence requirements of the NYSE. |

The Committee acts on behalf of our Board of Directors to establish the executive compensation philosophy and oversee our executive compensation and long-term incentive programs. Specifically, the Committee is responsible for:

| ​ |                                                                                                                                                                                                                                                                                                                                            | ​ |
| ■ | Reviewing and approving the target and actual compensation paid to, and the benefits received by, our Executive Officers;                                                                                                                                                                                                                  |   |
| ■ | Recommending focus areas for our Chief Executive Officer for approval by the members of our Board of Directors who meet the independence and experience requirements set forth in the Committee charter;                                                                                                                                   |   |
| ■ | Evaluating all aspects of our Chief Executive Officer’s performance in light of these focus areas (with the participation of all non-executive members of the Board of Directors) and setting our Chief Executive Officer’s compensation based on this evaluation as well as a review of compensation practices in the competitive market; |   |

Transocean 2025 P-108 Proxy Statement

| ​ |                                      |
| ​ | COMPENSATION DISCUSSION AND ANALYSIS |

| ■ | Establishing and approving our executive compensation plans and arrangements to provide benefits to our Executive Officers in accordance with the goals and objectives of the Company, as established by the Board of Directors;                                                                                                                                                                                                                                                                        |
| ■ | Administering the Company’s LTI plans, including determining plan eligibility and approving individual awards for all plan participants;                                                                                                                                                                                                                                                                                                                                                                |
| ■ | Administering the Company’s Performance Award and Cash Bonus Plan and approving individual awards for all Executive Officers;                                                                                                                                                                                                                                                                                                                                                                           |
| ■ | Considering and approving executive employment and, to the extent permissible under Swiss law, severance agreements or other contractual agreements that may be entered into with our Executive Officers (that shall not include “single-trigger” change-in-control agreements);                                                                                                                                                                                                                        |
| ■ | Engage with our shareholders