Company: NE-WTA
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001628280-25-015025
Chunk: 61

Company: Noble Corp plc
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 61
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 of material non-public information, and did not timethe disclosure of material non-public information for the purpose of affecting the value of executive compensation.

Clawback Provisions

In October 2023, the Board adopted a clawback policy which covers all current and former executive officers. Pursuant to the policy, the Company will recoup any excess incentive compensation received (whether in cash or equity) by any covered executive officer during the three fiscal years preceding any required restatement of the Company’s reported financial results due to material noncompliance with any financial reporting requirement under the federal securities laws. The Company’s clawback policy is filed as an Exhibit to our Annual Report on Form 10-K for the year ended December 31, 2024. This clawback policy is in addition to any other recovery rights provided under applicable law.

Employment Agreements & Severance Plans

Employment Agreements

We previously entered into employment agreements (“Employment Agreements”) with certain executive officers, including Messrs. Eifler, Barker, Kawaja and Denton effective as of February 5, 2021. In August 2023, the Company adopted an Executive Change in Control Severance Plan and an Executive Severance Plan (together the “Severance Plans”). Each of the Employment Agreements terminated as of February 5, 2024, and as a result, any severance benefits to be received by our NEOs will be determined in accordance with the Severance Plans.

Executive Severance Plans

The Executive Severance Plan provides that, subject to the terms and conditions of the plan, and contingent upon the execution of a separation agreement and release of claims, if the participant experiences a “qualifying termination” (as defined under the Executive Severance Plan), the terminated executive is entitled to receive the following:

• a lump sum cash payment, payable within 30 days following the date on which the separation agreement comes effective and irrevocable, in an amount equal to (1) the sum of the executive’s base salary and target annual bonus times; (2) a multiple of 2.0 for the CEO and 1.0 for all our other NEOs;

• a pro-rata annual cash bonus for the year in which the termination occurs, payable in lump sum on or about the date such bonuses are paid to other employees of the Company;

• subject to the executive’s eligibility for and timely election of continued coverage under COBRA, continued medical, dental and vision benefit coverage for the executive and his