Company: RIG
Filing Date: 2025-03-21
Form Type: PRE 14A
Source: 0001451505-25-000024
Chunk: 78

Company: Transocean Ltd.
Filing Date: 2025-03-21
Form: PRE 14A
Chunk 78
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’s ability to attract, retain and motivate qualified individuals in a system that aligns compensation with the Company’s business performance. PRIMARY RESPONSIBILITIES The authority and responsibilities of the Compensation Committee include, among others, the following: ■Annually review and recommend to the Board of Directors for submission to and ratification by the shareholders pursuant to Swiss law and our Articles of Association the maximum aggregate amount of compensation of the Board of Directors and the Executive Management Team for the period between the annual general meeting at which ratification is sought and the next annual general meeting; ■Annually review and recommend to the Board of Directors for submission to and ratification by the shareholders the maximum aggregate amount of compensation of the Specified Executives and each member of the Board of Directors for the fiscal year commencing after the annual general meeting at which ratification is sought; ■Select appropriate peer groups and market reference points against which the Company’s Board of Directors and executive compensation is compared; ■Annually recommend focus areas for our Chief Executive Officer for approval by members of our Board of Directors who meet our independence and experience requirements; ■Annually review, with participation of our full Board of Directors, our Chief Executive Officer’s performance in light of our established focus areas; ■Annually set our Chief Executive Officer’s compensation based, as appropriate, upon his performance evaluation together with competitive data and subject to shareholder ratification requirements pursuant to our Articles of Association and applicable law; ■Annually set our Executive Chair’s compensation based, as appropriate, upon competitive data and subject to shareholder ratification requirements pursuant to our Articles of Association and applicable law; ■Administer our long-term incentive plans, Performance Award and Cash Bonus Plan, Deferred Compensation Plan, and any other compensation plans or arrangements providing for benefits primarily to members of the Board of Directors and executive officers in accordance with goals and

Transocean 2025 P-80 Proxy Statement

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| ​ | BOARD MEETINGS AND COMMITTEES |

objectives established by the Board of Directors, the terms of the plans, and any applicable rules and regulations; ■Consider and make recommendations to the Board of Directors, with guidance from an outside compensation consultant, concerning the existing Board of Directors and executive compensation programs and changes to such programs; ■Consider, with guidance from an outside compensation consultant, and approve the material terms of any employment, severance, termination or other similar arrangements (to the extent permitted by applicable law and our Articles of Association) that may be entered into with members of the Board of Directors and Specified