Company: RIG
Filing Date: 2025-03-21
Form Type: PRE 14A
Source: 0001451505-25-000024
Chunk: 151

Company: Transocean Ltd.
Filing Date: 2025-03-21
Form: PRE 14A
Chunk 151
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. “ Dividend Equivalents” means, in the case of Restricted Share Units or Performance Units settled in Shares, an amount equal to all dividends and other distributions (or the economic equivalent thereof) that are payable to shareholders of record during the Restriction Period or performance period, as applicable, on a like number of Shares that are subject to the Award. Dividend Equivalents may be payable in cash or in any form determined by the Committee in its absolute discretion. “ Employee” means an employee of the Company or any of its Subsidiaries. “ Employee Award” means the grant of any Award, whether granted singly, in combination, or in tandem, to an Employee pursuant to such applicable terms, conditions, and limitations established by the Committee. “ Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time. “ Exercise Price” means the price at which a Participant may exercise an Option or SAR. “ Fair Market Value” means, as of any day, the closing price of the Shares on such day (or on the next preceding business day, if such day is not a business day or if no trading occurred on such day) as reported on the New York Stock Exchange or on such other securities exchange or reporting system Transocean 2025 APC-2 Proxy Statement

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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 evid