Exhibit 10.1

AMENDED AND RESTATED TAX SHARING AGREEMENT

BETWEEN

TRANSOCEAN HOLDINGS INC.

AND

TODCO

--------------------------------------------------------------------------------

TABLE OF CONTENTS

SECTION 1.

Definition of Terms.

4

 

 

 

 

 

SECTION 2.

Allocation of Income Tax Liabilities.

8

 

 

 

 

 

2.1

Federal Income Taxes.

8

 

2.2

State Income Taxes.

9

 

2.3

Foreign Income Taxes.

10

 

2.4

Other Taxes.

11

 

2.5

Special Rules.

11

 

2.6

Tax Payments and Intercompany Billings.

13

 

 

 

 

 

SECTION 3.

Preparation and Filing of Tax Returns.

13

 

 

 

 

 

 

3.1

Combined Returns and Consolidated Returns.

13

 

3.2

Separate Returns and Other Returns.

13

 

3.3

Special Rules Relating to the Preparation of Tax Returns.

15

 

 

 

 

 

SECTION 4.

Tax Benefits, Refunds, and Carrybacks.

16

 

 

 

 

 

 

4.1

Compensation by Holdings for TODCO’s Post-IPO Tax Assets.

16

 

4.2

Compensation by TODCO for Pre-IPO Tax Assets.

16

 

4.3

Claims for Refund from Carrybacks.

20

 

4.4

Tax Benefits Resulting from Exercise of Stock Options.

20

 

 

 

 

 

SECTION 5.

Tax Payments and Intercompany Billings.

21

 

 

 

 

 

 

5.1

Consolidated and Combined Returns.

21

 

5.2

Payment of Refunds, Tax Benefits, and Tax Assets.

21

 

5.3

Initial Determinations and Subsequent Adjustments.

22

 

5.4

Indemnification Payments.

23

 

5.5

Payments by or to Other Members of the Groups.

23

 

5.6

Interest.

24

 

5.7

Tax Consequences of Payments.

24

 

5.8

Subordination Agreement.

24

 

 

 

 

 

SECTION 6.

Assistance and Cooperation.

24

 

 

 

 

 

SECTION 7.

Tax Records.

24

 

 

 

 

 

7.1

Retention of Tax Records.

24

 

7.2

Access to Tax Records.

24

 

 

 

 

 

SECTION 8.

Tax Contests.

25

 

 

 

 

 

 

8.1

Notices.

25

 

8.2

Control of Tax Contests.

25

 

8.3

Cooperation.

25

 

 

 

 

 

SECTION 9.

Restriction on Certain Post-IPO Actions of TODCO.

25

-1-

--------------------------------------------------------------------------------

 

 

 

 

 

SECTION 10.

General Provisions.

26

 

 

 

 

 

 

10.1

Survival of Obligations.

26

 

10.2

Expenses.

26

 

10.3

Breach of Agreement.

26

 

10.4

Disputes.

26

 

10.5

Notices. 

26

 

10.6

Counterparts.

27

 

10.7

Binding Effect; Assignment.

27

 

10.8

Severability.

27

 

10.9

Amendment.

27

 

10.10

Effective Time.

27

 

10.11

Change in Law.

27

 

10.12

Authorization, Etc.

27

 

10.13

No Third Party Beneficiaries.

28

 

 

 

 

 

SCHEDULE 1.1 

Applicable Discount Rates

30

 

 

 

 

 

SCHEDULE 1.2 

TODCO Tax Group

31

 

 

 

 

 

SCHEDULE 1.3 

Transocean Tax Group

32

 

 

 

 

 

SCHEDULE 4.4 

Transocean Stock Options

35

 

 

 

 

 

APPENDIX A 

Examples Illustrating the Application of Section 4

36

-2-

--------------------------------------------------------------------------------

AMENDED AND RESTATED TAX SHARING  AGREEMENT

                    THIS AMENDED AND RESTATED TAX SHARING AGREEMENT (this
“Agreement”) is entered into as of November ___, 2006 but effective as of
February 4, 2004, between Transocean Holdings Inc., a Delaware corporation
(“Holdings”), and TODCO (formerly named R&B Falcon Corporation), a Delaware
corporation.  Capitalized terms used in this Agreement are defined herein. 
Unless otherwise indicated, all “Section” references in this Agreement are to
sections of this Agreement.

RECITALS

                    WHEREAS, from January 31, 2001 through February 3, 2004,
TODCO was a direct wholly owned subsidiary of Holdings, which in turn was a
direct wholly owned subsidiary of Transocean Inc., a company organized under the
laws of the Cayman Islands (“Transocean”); and

                    WHEREAS, on February 4, 2004, the following events occurred
in the following order:

 

•

each outstanding share of TODCO common stock, TODCO’s sole class of stock, was
converted into a share of TODCO Class B common stock, all of which were then
owned by Holdings; and

 

 

 

 

•

the parties hereto entered into that certain Tax Sharing Agreement, dated
February 4, 2004 (the “Original Tax Sharing Agreement”) in order to provide for
and agree upon the allocation between the parties of liabilities for Taxes
arising prior to, as a result of, and subsequent to an initial public offering
of the TODCO Class A common stock (the “IPO”), and to provide for and agree upon
other matters relating to Taxes; and

 

 

 

 

•

TODCO acquired all of its outstanding debt held by Transocean and Holdings in
exchange for newly issued shares of TODCO Class B common stock, and as a result
of such exchange TODCO ceased to be a member of the Holdings Consolidated Group,
and

 

 

 

 

•

TODCO distributed pro rata to Holdings and Transocean shares of its Class B
common stock; and

                    WHEREAS, on February 10, 2004, Holdings sold a portion of
its shares of TODCO Class B common stock, which were immediately converted into
shares of TODCO Class A common stock, in the IPO; and

                    WHEREAS, on September 21, 2004, Holdings sold the remainder
of its shares of TODCO Class B common stock and Transocean sold a portion of its
shares of TODCO Class B common stock, which in each case were immediately
converted into shares of TODCO Class A common stock, in a secondary public
offering; and

-3-

--------------------------------------------------------------------------------

                    WHEREAS, through secondary public offerings effected on
December 22, 2004 and May 18, 2005 and a sale pursuant to Rule 144 of the
Securities Act of 1933, Transocean sold the remainder of its shares of TODCO
Class B common stock, which in each case were immediately converted into shares
of TODCO Class A common stock upon each sale; and

                    WHEREAS, in 2005, a dispute arose among Transocean,
Holdings, and TODCO regarding the Original Tax Sharing Agreement; and

                    WHEREAS, TODCO and Holdings desire to amend and restate the
Original Tax Sharing Agreement in its entirety as set forth herein in order to
clarify certain matters therein.

                    NOW, THEREFORE, in consideration of the foregoing and the
covenants and agreements set forth below, the parties hereto agree as follows:

                    SECTION 1.  Definition of Terms.  For purposes of this
Agreement (including the recitals hereof), the following terms have the
following meanings:

                    “Agreement” means this Amended and Restated Tax Sharing
Agreement, which for the avoidance of doubt shall be treated as the Tax Sharing
Agreement referred to in the Master Separation Agreement and other Ancillary
Agreements (as defined in the Master Separation Agreement).

                    “Applicable Discount Rate” means, with respect to any year,
the fraction designated in Schedule 1.1.

                    “Carryback” means any net operating loss, net capital loss,
tax credit or other similar Tax Item which may or must be carried from one Tax
Year to a prior Tax Year under applicable Tax Law.

                    “Code” means the U.S. Internal Revenue Code of 1986, as
amended from time to time, or any successor law.

                    “Combined Return” means any State or Foreign Income Tax
Return which is filed by one or more members of the Transocean Tax Group and
which includes, to any extent, one or more members of the TODCO Tax Group or in
which income, deductions, or credits of any member of the Transocean Tax Group
may be combined with, or offset against, income, deductions, or credits of any
member of the TODCO Tax Group.

                    “Combined Year” means, with respect to any State Income Tax
or Foreign Income Tax, as applicable, any Tax Year for which a Combined Return
is filed; provided, however, that Combined Year means only that portion of such
Tax Year in which one or more members of the TODCO Tax Group are included in the
Combined Return.

                    “Company” means Holdings or TODCO or one of their
Subsidiaries, as the context requires. 

-4-

--------------------------------------------------------------------------------

                    “Consolidated Return” means any Federal Income Tax Return
which is filed on a consolidated basis by Holdings (or any other member of the
Transocean Tax Group), as common parent, and its eligible Subsidiaries (as
determined under Section 1504(a) of the Code or any successor provision) and
which includes, to any extent, TODCO and its eligible Subsidiaries (as
determined under Section 1504(a) of the Code or any successor provision).

                    “Consolidated Year” means, with respect to any Federal
Income Tax, any Tax Year for which a Consolidated Return is filed; provided,
however, that Consolidated Year means only that portion of such Tax Year in
which TODCO and its eligible Subsidiaries are included in the Consolidated
Return.

                    “Deconsolidation Date” means February 4, 2004.

                    “Effective Date” means February 4, 2004.

                    “Federal Income Tax” means any Income Tax imposed by the
United States federal government (including, without limitation, the Taxes
imposed by Sections 11, 55, 59A and 1201(a) of the Code).

                    “Federal Income Tax Return” means any report of Federal
Income Taxes due, any claims for refund of Federal Income Taxes paid, any
information return with respect to Federal Income Taxes, or any other similar
report, statement, declaration, or document required to be filed under U.S.
federal income Tax Law, including any attachments, exhibits, or other materials
submitted with any of the foregoing, and including any amendments or supplements
to any of the foregoing.

                    “Foreign Country” means any country other than the United
States.

                    “Foreign Income Tax” means any Income Tax imposed by any
Foreign Country or any possession of the United States or by any political
subdivision of any Foreign Country or possession of the United States.

                    “Group” means the Transocean Tax Group or the TODCO Tax
Group, as the context requires.

                    “Holdings” has the meaning set forth in the recital hereto.

                    “Holdings Consolidated Group” means Holdings and its
eligible Subsidiaries (as determined under Section 1504(a) of the Code or any
successor provision) that file a Federal Income Tax Return on a consolidated
basis.

                    “Income Tax” means all Taxes (i) based upon, measured by, or
calculated with respect to, net income, net profits or deemed net profits
(including, without limitation, any capital gains Tax, minimum Tax based upon,
measured by, or calculated with respect to, net income, net profits or deemed
net profits, any Tax on items of Tax preference and depreciation recapture or
clawback, but not including sales, use, real or personal property, gross or net
receipts, gross profits, transfer and similar Taxes),

-5-

--------------------------------------------------------------------------------

(ii) imposed by a Foreign Country which qualifies under Section 903 of the Code
or (iii) based upon, measured by, or calculated with respect to multiple bases
(including, but not limited to, corporate franchise and occupation Taxes) if
such Tax may be based upon, measured by, or calculated with respect to one or
more bases described in clause (i) above.  Notwithstanding the above, the Taxes
described in clause (iii) shall be considered Income Taxes only to the extent
that such Taxes exceed the hypothetical amount of such Taxes that would have
been imposed had all of the bases described in clause (i) on which such Taxes
are based, measured, or calculated been equal to zero.

                    “IPO” has the meaning set forth in the recital hereto.

                    “IPO Closing Date” means February 10, 2004.

                    “Master Separation Agreement” means the Master Separation
Agreement dated February 4, 2004 among Transocean, Transocean Holdings and TODCO

                    “Other Return” means any Tax Return which is not a Federal,
State, or Foreign Income Tax Return.

                    “Other Tax” means any Tax that is not an Income Tax.

                    “Payment Date” means (x) with respect to any Consolidated
Return, the due date for any required installment of estimated taxes determined
under Code Section 6655, the due date (determined without regard to extensions)
for filing the return determined under Code Section 6072, and the date the
return is filed, and (y) with respect to any Combined Return, Separate Return,
or Other Return the corresponding dates determined under the applicable Tax Law.

                    “Post-IPO Tax Asset” means a Tax Asset created after the IPO
Closing Date as determined under the principles of Section 4.2(b) of this
Agreement.

                    “Pre-IPO Tax Asset” means a Tax Asset created on or before
the IPO Closing Date as determined under the principles of Section 4.2(b) of
this Agreement or any deduction to the extent treated as a Pre-IPO Tax Asset by
reason of Section 4.4 of this Agreement.

                    “Separate Return” means any Federal, State, or Foreign
Income Tax Return which is not a Consolidated Return or Combined Return.

                    “Separate Return Year” means, with respect to any Federal
Income Tax, State Income Tax or Foreign Income Tax, as applicable, a Tax Year or
portion thereof which is not a Consolidated Year or Combined Year.

                    “State Income Tax” means any Income Tax imposed by any State
of the United States or by any political subdivision of any such State.

                    “Straddle Period” means any Tax Year beginning on or before
the IPO Closing Date and ending after the IPO Closing Date.

-6-

--------------------------------------------------------------------------------

                    “Subsidiary” means any entity that directly or indirectly is
“controlled” by the person or entity in question. “Control” means the
possession, directly or indirectly, of the power to direct or cause the
direction of the management and policies of such entity, whether through
ownership of voting securities, by contract or otherwise.

                    “Tax” or “Taxes” means any income, gross income, gross
receipts, profits, capital stock, franchise, withholding, payroll, social
security, workers compensation, unemployment, disability, property, ad valorem,
stamp, excise, severance, occupation, service, sales, use, license, lease,
transfer, import, export, value added, alternative minimum, estimated or other
similar tax (including any fee, assessment, or other charge in the nature of or
in lieu of any tax) imposed by any Tax Authority and any interest, penalties,
additions to tax, or additional amounts in respect of the foregoing.

                    “Tax Asset” means any Tax Item that could reduce a Tax,
including a net operating loss, net capital loss, loss deferred under Section
267(f) of the Code, investment tax credit, foreign tax credit, charitable
deduction or credit related to alternative minimum tax or any other Tax credit,
but does not include the tax basis of any asset.

                    “Tax Authority” means, with respect to any Tax, the
governmental entity or political subdivision, agency, commission or authority
thereof that imposes such Tax, and the agency, commission or authority (if any)
charged with the assessment, determination or collection of such Tax for such
entity or subdivision.

                    “Tax Benefit” means a reduction in the Tax liability of a
taxpayer as reflected in its Tax Return.

                    “Tax Contest” means an audit, review, examination, or any
other administrative or judicial proceeding with the purpose or effect of
redetermining Taxes of any member of either Group (including any administrative
or judicial review of any claim for refund).

                    “Tax Item” means, with respect to any Income Tax, any item
of income, gain, loss, deduction, credit or other attribute that may have the
effect of increasing or decreasing any Tax.

                    “Tax Law” means the law of any governmental entity or
political subdivision thereof, and any controlling judicial or administrative
interpretations of such law, relating to any Tax.

                    “Tax Records” means Tax Returns, Tax Return work papers,
documentation relating to any Tax Contests, and any other books of account or
records required to be maintained under applicable Tax Laws (including but not
limited to Section 6001 of the Code) or under any record retention agreement
with any Tax Authority.

                    “Tax Return” means any report of Taxes due, any claims for
refund of Taxes paid, any information return with respect to Taxes, or any other
similar report, statement, declaration, or document required to be filed under
any applicable Tax Law, including any attachments, exhibits, or other materials
submitted with any of the foregoing, and including any amendments or supplements
to any of the foregoing.

-7-

--------------------------------------------------------------------------------

                    “Tax Year” means, with respect to any Tax, the year, or
shorter period, if applicable, for which the Tax is reported as provided under
applicable Tax Law.

                    “TODCO” has the meaning set forth in the recital hereto.

                    “TODCO Business” has the meaning set forth in the Master
Separation Agreement.

                    “TODCO Tax Group” means TODCO and all persons that are
Subsidiaries of TODCO immediately after the IPO Closing Date, including without
limitation the Subsidiaries set forth in Schedule 1.2 and persons that become
Subsidiaries of TODCO thereafter.  If the Transocean Tax Group transfers any
part of the TODCO Business (including any Subsidiary) to the TODCO Tax Group, or
the TODCO Tax Group transfers any part of the Transocean Business (including any
Subsidiary) to the Transocean Tax Group, after the IPO Closing Date in a
transaction contemplated by Sections 2.7 and 2.8 of the Master Separation
Agreement, such transfer will be deemed to have occurred immediately before the
IPO Closing Date.

                    “Transocean” has the meaning set forth in the recital
hereto.

                    “Transocean Business” has the meaning set forth in the
Master Separation Agreement.

                    “Transocean Tax Group” means Transocean and all persons that
are Subsidiaries of Transocean, other than members of the TODCO Tax Group,
immediately after the IPO Closing Date, including without limitation the
Subsidiaries set forth in Schedule 1.3 and persons that become Subsidiaries of
Transocean thereafter.  If the Transocean Tax Group transfers any part of the
TODCO Business (including any Subsidiary) to the TODCO Tax Group, or the TODCO
Tax Group transfers any part of the Transocean Business (including any
Subsidiary) to the Transocean Tax Group, after the IPO Closing Date in a
transaction contemplated by Article II of the Master Separation Agreement, such
transfer will be deemed to have occurred immediately before the IPO Closing
Date.

                    “Treasury Regulations” means the regulations promulgated
from time to time under the Code as in effect for the relevant Tax Year.

                    SECTION 2.  Allocation of Income Tax Liabilities.

                    2.1     Federal Income Taxes.  Except as provided in Section
2.5, liability for Federal Income Taxes shall be allocated as follows:.

-8-

--------------------------------------------------------------------------------

                              (a)     Consolidated Years.

                                        (i)     Except as provided in Section
2.1(a)(ii), for each Consolidated Year, TODCO shall be liable for and pay to
Holdings an amount equal to the Federal Income Taxes attributable to the TODCO
Tax Group.  Such amount shall be determined as if TODCO and its eligible
Subsidiaries were not required to join and did not join in the filing of the
Consolidated Return for that Consolidated Year but instead filed their own
consolidated Federal Income Tax Return on which TODCO’s tax liability was
calculated pursuant to Treasury Regulations Section 1.1552-1(a)(2)(ii).

                                        (ii)     TODCO shall not be liable for
any Federal Income Taxes attributable to the TODCO Tax Group (x) for any
Consolidated Year which ends on or before the IPO Closing Date or (y) in the
case of a Consolidated Year which is a Straddle Period, for the portion thereof
which ends on the IPO Closing Date.

                                        (iii)     Holdings shall indemnify TODCO
and its Subsidiaries for all Federal Income Taxes for all Consolidated Years
other than amounts for which TODCO is liable pursuant to this Section 2.1(a).

                              (b)     Separate Return Years.

                                        (i)     Except as provided in Section
2.1(b)(ii), TODCO shall be liable for all Federal Income Taxes imposed on
members of the TODCO Tax Group with respect to all Separate Return Years.

                                        (ii)     TODCO shall not be liable for
any Federal Income Taxes imposed on members of the TODCO Tax Group (x) for any
Separate Return Year which ends on or before the IPO Closing Date or (y) in the
case of a Separate Return Year which is a Straddle Period, for the portion
thereof which ends on the IPO Closing Date.  Notwithstanding the immediately
preceding sentence, if any member of the TODCO Tax Group becomes a member of
such Group after the IPO Closing Date (determined after the application of
Section 2.5(a) of this Agreement), TODCO shall be liable for all Federal Income
Taxes imposed on such member for all Separate Return Years.

                                        (iii)     Holdings shall indemnify TODCO
and its Subsidiaries for all Federal Income Taxes for all Tax Years which are
not Consolidated Years other than amounts for which TODCO is liable pursuant to
this Section 2.1(b).

                    2.2     State Income Taxes.  Except as provided in Section
2.5, liability for State Income Taxes shall be allocated as follows:

                              (a)     Combined Years.

                                        (i)     Except as provided in Section
2.2(a)(ii), for each Combined Year, TODCO shall be liable for and pay to
Holdings (or another member of the Transocean Tax Group designated by Holdings
pursuant to Section 5.5) an amount equal to the State Income Taxes attributable
to the TODCO Tax Group.  Such amount shall be determined as if TODCO and its
eligible Subsidiaries were not required to join and did not join in the filing
of a Combined Return for that Combined Year but instead filed their own combined
State Income Tax Return on which TODCO’s tax liability was calculated
consistently with the principles of Treasury Regulations Section
1.1552-1(a)(2)(ii).

-9-

--------------------------------------------------------------------------------

                                        (ii)     TODCO shall not be liable for
any State Income Taxes attributable to the TODCO Tax Group (x) for any Combined
Year which ends on or before the IPO Closing Date or (y) in the case of a
Combined Year which is a Straddle Period, for the portion thereof which ends on
the IPO Closing Date.

                                        (iii)     Holdings shall indemnify TODCO
and its Subsidiaries for all State Income Taxes for all Combined Years other
than amounts for which TODCO is liable pursuant to this Section 2.2(a).

                              (b)     Separate Return Years.

                                        (i)     Except as provided in Section
2.2(b)(ii), TODCO shall be liable for all State Income Taxes imposed on members
of the TODCO Tax Group with respect to all Separate Return Years.

                                        (ii)     TODCO shall not be liable for
any State Income Taxes imposed on members of the TODCO Tax Group (x) for any
Separate Return Year which ends on or before the IPO Closing Date or (y) in the
case of a Separate Return Year which is a Straddle Period, for the portion
thereof which ends on the IPO Closing Date.  Notwithstanding the immediately
preceding sentence, if any member of the TODCO Tax Group becomes a member of
such Group after the IPO Closing Date (determined after the application of
Section 2.5(a) of this Agreement), TODCO shall be liable for all State Income
Taxes imposed on such member for all Separate Return Years.

                                        (iii)     Holdings shall indemnify TODCO
and its Subsidiaries for all State Income Taxes for all Separate Return Years
other than amounts for which TODCO is liable pursuant to this Section 2.2(b).

                    2.3     Foreign Income Taxes.  Except as provided in Section
2.5, liability for Foreign Income Taxes shall be allocated as follows:

                              (a)     Combined Years.

                                        (i)     Except as provided in Section
2.3(a)(ii), for each Combined Year, TODCO shall be liable for and pay to
Holdings (or another member of the Transocean Tax Group designated by Holdings
pursuant to Section 5.5) an amount equal to the Foreign Income Taxes that are
attributable to the TODCO Tax Group.  Such amount shall be determined as if
TODCO and its eligible Subsidiaries were not required to join and did not join
in the filing of a Combined Return for that Combined Year but instead filed
their own combined Foreign Income Tax Return on which TODCO’s tax liability was
calculated consistently with the principles of Treasury Regulations Section
1.1552-1(a)(2)(ii).

-10-

--------------------------------------------------------------------------------

                                        (ii)     TODCO shall not be liable for
any Foreign Income Taxes attributable to the TODCO Tax Group (x) for any
Combined Year which ends on or before the IPO Closing Date or (y) in the case of
a Combined Year which is a Straddle Period, for the portion thereof which ends
on the IPO Closing Date.

                                        (iii)    Holdings shall indemnify TODCO
and its Subsidiaries for all Foreign Income Taxes for all Combined Years other
than amounts for which TODCO is liable pursuant to this Section 2.3(a).

                              (b)     Separate Return Years.

                                        (i)      Except as provided in Section
2.3(b)(ii), TODCO shall be liable for all Foreign Income Taxes imposed on
members of the TODCO Tax Group with respect to all Separate Return Years.

                                        (ii)     TODCO shall not be liable for
any Foreign Income Taxes imposed on the TODCO Tax Group (x) for any Separate
Return Year which ends on or before the IPO Closing Date or (y) in the case of a
Separate Return Year which is a Straddle Period, for the portion thereof which
ends on the IPO Closing Date.  Notwithstanding the immediately preceding
sentence, if any member of the TODCO Tax Group becomes a member of such Group
after the IPO Closing Date (determined after the application of Section 2.5(a)
of this Agreement), TODCO shall be liable for all Foreign Income Taxes imposed
on such member for all Separate Return Years.

                                        (iii)    Holdings shall indemnify TODCO
and its Subsidiaries for all Foreign Income Taxes for all Separate Return Years
other than amounts for which TODCO is liable pursuant to this Section 2.3(b).

                    2.4     Other Taxes.  Except as provided in Section 2.5,
TODCO shall be liable for any Other Tax attributable to the TODCO Business, and
Holdings shall indemnify TODCO and its Subsidiaries for any Other Tax that is
not attributable to the TODCO Business.

                    2.5     Special Rules.

                              (a)     Separation Transactions Occurring After
the IPO Closing Date.  If the Transocean Tax Group transfers any part of the
TODCO Business (including any Subsidiary) to the TODCO Tax Group, or the TODCO
Tax Group transfers any part of the Transocean Business (including any
Subsidiary) to the Transocean Tax Group, after the IPO Closing Date in a
transaction contemplated by Sections 2.7 or 2.8 of the Master Separation
Agreement, such transfer will be deemed to have occurred immediately before the
IPO Closing Date for purposes of computing the Taxes imposed on or attributable
to the TODCO Tax Group and the Transocean Tax Group.

-11-

--------------------------------------------------------------------------------

                              (b)     Straddle Periods.  For purposes of
determining the Income Taxes attributable to or imposed on the TODCO Tax Group
for the portion of any Straddle Period which ends on the IPO Closing Date, such
Straddle Period shall be treated as two Tax Years, one ending on the IPO Closing
Date and the other beginning on the following day, and all calculations shall be
made by (x) closing the books of the TODCO Tax Group at the end of the month
preceding the month in which the IPO Closing Date occurs, (y) closing the books
of the TODCO Tax Group again at the end of the month in which the IPO Closing
Date occurs, and (z) apportioning Tax Items accruing in the month in which the
IPO Closing Date occurs to each hypothetical Tax Year pro rata in proportion to
the number of days in such month that are within each hypothetical Tax Year. 
Notwithstanding the immediately preceding sentence, all Tax Items that are
extraordinary items within the meaning of Treasury Regulations Section
1.1502-76(b)(2)(ii)(C) shall be allocated to the hypothetical Tax Year in which
they accrue; provided, however, that all extraordinary items (other than items
resulting from a transaction contemplated by Article II of the Master Separation
Agreement) accruing after the Deconsolidation Date and on or before the IPO
Closing Date will be allocated entirely to the hypothetical Tax Year that begins
on the day following the IPO Closing Date .

                              (c)     Short Years. If a Consolidated or Combined
Return is filed with respect to a Tax Year, and if TODCO and its eligible
Subsidiaries are not included in such Consolidated or Combined Return for that
entire Tax Year, then for purposes of determining the Income Taxes attributable
to or imposed on the TODCO Tax Group for the resulting short Consolidated or
Combined Year and the short Separate Return Year, all calculations shall be made
by (x) closing the books of the TODCO Tax Group at the end of the month
preceding the month in which the first short year ends, (y) closing the books of
TODCO Tax Group again at the end of the month in which the first short year
ends, and (z) apportioning Tax Items accruing in the month in which the first
short year ends to each short year pro rata in proportion to the number of days
in such month that are within each short year.  Notwithstanding clause (z) of
the immediately preceding sentence, all Tax Items that are extraordinary items
within the meaning of Treasury Regulations Section 1.1502-76(b)(2)(ii)(C) shall
be allocated to the short year in which they accrue; provided, however, that the
principles of Treasury Regulations Section 1.1502-76(b)(1)(ii)(B) (Next Day
Rule) shall apply in determining the proper allocation of extraordinary items
accruing on the last day of the earlier short Tax Year.

                              (d)     Payments to Foreign Jurisdictions.  If at
any time after the Deconsolidation Date any member of the TODCO Tax Group makes
a payment to a foreign Tax Authority for Taxes for which Holdings is otherwise
liable under this Agreement, Holdings shall have no obligation to indemnify such
member unless such member obtains prior written consent from Holdings to make
such payment.  If Holdings fails to consent to such payment, it shall indemnify
TODCO and its Subsidiaries for any Taxes resulting from the failure to make such
payment.

                              (e)     Income Taxes Attributable to Trinidad and
Tobago.  TODCO shall be liable for all Foreign Income Taxes imposed by the
Republic of Trinidad and Tobago that are attributable to the TODCO Business,
regardless of whether such Taxes relate to a period, or portion thereof, ending
on or before the IPO Closing Date.

-12-

--------------------------------------------------------------------------------

                              (f)     Payroll Taxes Resulting from Exercise of
Stock Options.  Holdings shall be liable for all payroll Taxes, including Taxes
imposed under Sections 3102, 3111, and 3301 of the Code or similar provisions
under state or foreign Tax Laws, resulting from the delivery (or deemed delivery
in the case of a cashless exercise) by the Transocean Tax Group of stock of
Transocean to any person pursuant to the exercise of a stock option described in
Section 4.4 and listed on Schedule 4.4.

                    2.6     Tax Payments and Intercompany Billings.  Each
Company shall pay the Taxes allocated to it by this Section 2 either to the
applicable Taxing Authority or to the other appropriate Company in accordance
with Section 5.

                    SECTION 3.  Preparation and Filing of Tax Returns.

                    3.1     Combined Returns and Consolidated Returns.

                              (a)     Preparation by Transocean and Holdings.
Holdings shall be responsible for preparing all Consolidated Returns and
Combined Returns.

                              (b)     Provision of Information and Assistance by
TODCO.

                                        (i)     Information with Respect to
Final Returns.  TODCO shall, for each Consolidated Return or Combined Return,
provide Holdings with all information relating to members of the TODCO Tax Group
which Holdings needs to prepare such return.  TODCO shall use its best efforts
to provide such information no later than the earlier of (x) thirty days prior
to the due date of such Consolidated Return or Combined Return, taking into
account any extensions that Holdings has given written notice to TODCO that it
intends to file, or (y) the first day of the fifth month following the end of
the Tax Year to which such information relates, but in any event shall provide
such information no later than the earlier of (x) fifteen days prior to the due
date of such Consolidated Return or Combined Return, taking into account any
extensions that Holdings has given written notice to TODCO that it intends to
file, and (y) the fifteenth day of the fifth month following the end of such Tax
Year.

                                        (ii)     Information with Respect to
Estimated Payments and Extension Payments.  TODCO shall provide Holdings with
all information relating to members of the TODCO Tax Group which Holdings needs
to determine the amount of Taxes due on any Payment Date.  TODCO shall use its
best efforts to provide such information no later than fifteen days before such
Payment Date, but in any event shall provide such information no later than ten
days before such Payment Date.

                                        (iii)    Assistance.  At the request of
Holdings, TODCO shall take any action (e.g., filing a ruling request with the
relevant Tax Authority or executing a power of attorney) that is reasonably
necessary in order for Holdings to prepare, file, amend or take any other action
with respect to any Consolidated or Combined Return. 

-13-

--------------------------------------------------------------------------------

                    3.2     Separate Returns and Other Returns.

                              (a)     Tax Returns to be Prepared by Holdings.
Holdings shall be responsible for preparing all Separate Returns and Other
Returns which (x) relate solely to one or more members of the Transocean Tax
Group for any Tax Year, (y) relate solely to one or more members of the TODCO
Tax Group for any Tax Year ending on or before the IPO Closing Date or for any
Tax Year which is a Straddle Period, or (z) are information returns (including
without limitation IRS Forms W-2 and 1099) relating solely to the delivery (or
deemed delivery in the case of a cashless exercise) by the Transocean Tax Group
of stock of Transocean to any person pursuant to the exercise of a stock option
described in Section 4.4.  In connection with the preparation of the Tax Returns
specified in this Section 3.2(a), TODCO shall provide information and assistance
as described in Sections 3.1(b)(ii) and (iii) in the same manner as if such Tax
Returns were Consolidated Returns or Combined Returns.

                              (b)     Tax Returns to be Prepared by TODCO.

                                        (i)     Except as otherwise provided in
this Section 3.2(b), TODCO shall be responsible for preparing all Separate
Returns and Other Returns which relate solely to one or more members of the
TODCO Tax Group for any Tax Year ending after the IPO Closing Date and which is
not a Straddle Period, but not including information returns (including without
limitation IRS Forms W-2 and 1099) relating solely to the delivery (or deemed
delivery in the case of a cashless exercise) by the Transocean Tax Group of
stock of Transocean to any person pursuant to the exercise of a stock option
described in Section 4.4.  In preparing such Other Returns, TODCO may not take
any positions that it knows, or reasonably should know, would adversely affect
any member of the Transocean Tax Group.  Notwithstanding anything to the
contrary in this Section 3 and until a final determination is made by a Taxing
Authority to the contrary, TODCO shall claim (or shall cause the appropriate
member of the TODCO Tax Group to claim) on the relevant Tax Return the deduction
under Section 83(h) of the Code or any other relevant provision of federal Tax
Law with respect to all stock options described in Section 4.4 and listed on
Schedule 4.4 that have been exercised during the Tax Year covered by such Tax
Return.

                                        (ii)     Holdings will have the right to
determine the items specified in clauses (1), (3), (4) and (5) of Section 3.3(a)
with respect to any Tax Return described in Section 3.2(b)(i) if either (x) such
Tax Return is filed for a Tax Year at any time during which Transocean or
Holdings owned stock possessing greater than 50% of the voting power of all of
the outstanding TODCO stock or (y) such Tax Return is filed for a Tax Year at
any time during which there remains a present or potential obligation of at
least $5,000,000, in the aggregate, under Section 4.2(a) for TODCO to pay
Holdings for the use or deemed use of any Pre-IPO Tax Asset.  The determination
in clause (y) shall be made without considering any stock options described in
Section 4.4 and listed on Schedule 4.4.  For any Tax Year in which neither of
the conditions in clauses (x) or (y) are met, TODCO shall make reasonable
efforts to utilize all remaining Pre-IPO Tax Assets.

-14-

--------------------------------------------------------------------------------

                              (c)     Provision of Information. Holdings shall
provide to TODCO, and TODCO shall provide to Holdings, any information about
members of the Transocean Tax Group or the TODCO Tax Group, respectively, which
the party receiving such information needs to comply with Section 3.2(a) or
(b).  Such information shall be provided within the time prescribed by Section
3.1(b) for the provision of information for Consolidated Returns and Combined
Returns.

                    3.3     Special Rules Relating to the Preparation of Tax
Returns.

                              (a)     General Rule.  Except as otherwise
provided in this Agreement, the party responsible for filing a Tax Return
pursuant to Sections 3.1 or 3.2 shall have the exclusive right, in its sole
discretion, with respect to such Tax Return to determine (1) the manner in which
such Tax Return shall be prepared and filed, including the elections, methods of
accounting, positions, conventions and principles of taxation to be used and the
manner in which any Tax Item shall be reported, (2) whether any extensions may
be requested, (3) the elections that will be made on such Tax Return, (4)
whether an amended Tax Return shall be filed, (5) whether any claims for refund
shall be made, (6) whether any refunds shall be paid by way of refund or
credited against any liability for the related Tax and (7) whether to retain
outside firms to prepare or review such Tax Return.

                              (b)     Election to File Consolidated or Combined
Returns.  Holdings shall have the sole discretion of filing any Consolidated
Return or Combined Return, if the filing of such return is elective under the
relevant Tax Law.

                              (c)     Returns Affecting Liability of Other
Party.  Insofar as a Tax Return prepared by Holdings may affect Taxes for which
TODCO is liable pursuant to this Agreement, or vice versa:

                                        (i)      Tax Accounting Practices. The
Tax Return shall be prepared consistently with past Tax accounting practices to
the extent permissible under applicable Tax Law.

                                        (ii)     Review Prior to Filing. The
Company responsible for preparing any Tax Return (whether Holdings on the one
hand or TODCO on the other hand) shall make the Tax Return or relevant portion
thereof available to the other Company no later than thirty days before the Tax
Return is due, taking into account any extensions that the responsible Company
files, and shall in good faith take into account any comments on such Tax Return
by the other Company.

                              (d)     Standard of Performance.  Holdings shall
prepare the Tax Returns for which it is responsible pursuant to this Section 3
and which relate to the TODCO Tax Group with the same general degree of care as
it uses in preparing Tax Returns relating solely to the Transocean Tax Group. 
Holdings shall not be liable for any additional Taxes that result from a
redetermination in a Tax Contest and for which TODCO is otherwise liable under
Section 2, unless such additional Taxes arise solely as a result of Holdings
failure to exercise such degree of care.

-15-

--------------------------------------------------------------------------------

                    SECTION 4.  Tax Benefits, Refunds, and Carrybacks.

                    4.1     Compensation by Holdings for TODCO’s Post-IPO Tax
Assets.  In the event that any member of the Transocean Tax Group realizes a Tax
Benefit during any Consolidated Year or Combined Year as a result of the use or
absorption by any Transocean Tax Group member of any Post-IPO Tax Asset of the
TODCO Tax Group, as determined under the principles of Section 4.2(b), then
Holdings (or other appropriate member of the Transocean Tax Group) shall pay to
TODCO, in accordance with Section 5, the value of such Tax Asset, as determined
under the principles of Section 4.2(c) without regard to the specific rules
following clause (iii) thereof.

                    4.2     Compensation by TODCO for Pre-IPO Tax Assets.

                              (a)     Payment for Tax Assets.  Except as
otherwise provided in Sections 4.2(f), (g) and (h), if on any Tax Return, any
member of the TODCO Tax Group uses or absorbs any Pre-IPO Tax Asset to reduce
anyTax for which TODCO is liable under Section 2, then TODCO shall, in
accordance with Section 5, pay to Holdings (or another member of the Transocean
Tax Group designated by Holdings pursuant to Section 5.5) an amount equal to the
value of such Tax Asset.  For purposes of this Section 4.2(a), whether the use
or absorption of a Pre-IPO Tax Asset by any member of the TODCO Tax Group has
the effect of reducing any Tax for which TODCO is liable under Section 2 shall
be determined without regard to any unused Tax Asset that, but for such Pre-IPO
Tax Asset, could have otherwise been used or absorbed to reduce such Tax.

                              (b)     Time at which Tax Asset is Created.  For
purposes of Section 4.2(a):

                                        (i)      General Rule.  A Tax Asset
shall be considered created in the Tax Year relating to the Tax Return
(including an information return of U.S. persons with respect to certain foreign
corporations on Internal Revenue Service Form 5471) on which the Tax Asset is
first included.  In the case of a Straddle Period, the principles of Section
2.5(b) shall apply to determine whether such Tax Asset is created on or before
the IPO Closing Date.

                                        (ii)     Exception for Certain Excluded
Tax Assets.  Any Tax Asset not included in a Tax Return by reason of Sections
163(j) or 267 of the Code, Treasury Regulations Section 1.1502-13 or any similar
deferral provision under federal, state or foreign Tax Law shall be considered
included in such Tax Return.  This provision does not apply to any Tax Asset
relating to Transocean stock options.

                                        (iii)    Exception for Tax Assets
Arising out of the Payment of Income Taxes.  Any Tax Asset resulting from the
payment of (x) a Foreign Income Tax, other than a Foreign Income Tax described
in Section 5.3(b), (y) a State Income Tax or (z) an alternative minimum tax
imposed by Section 55 of the Code shall be considered created in the year in
which the income or other Tax Item to which such Tax relates accrued, regardless
of the year in which such Tax is paid or accrued.

-16-

--------------------------------------------------------------------------------

                                        (iv)     Exception for Displaced
Post-IPO Tax Assets.  Any Tax Asset that (x) would otherwise be treated,
pursuant to Sections 4.2(b)(i) through (iii), as created after the IPO Closing
Date and (y) has the effect of reducing, pursuant to Section 4.2(c), the value
of any Pre-IPO Tax Asset shall thereafter be treated as created on or before the
IPO Closing Date.

                              (c)     Value of Tax Assets. For purposes of
Section 4.2(a), the value of any Tax Asset shall be considered equal to:

                                        (i)     in the case of any deduction,
loss previously deferred under Section 267(f) of the Code, net operating loss or
net capital loss not otherwise described in clause (iii) below, the product of
(1) the amount of such deduction or loss used or absorbed on such Tax Return and
(2) the highest statutory tax rate applicable under Section 11 of the Code or
relevant state or foreign Tax Law,

                                        (ii)     in the case of any tax credit
not otherwise described in clause (iii) below, one hundred percent (100%) of
such tax credit used or absorbed on such Tax Return, and

                                        (iii)    in the case of any Tax Asset
that is a Pre-IPO Tax Asset by reason of Section 4.2(b)(iv), the amount by which
such Tax Asset previously reduced, pursuant to this Section 4.2(c), the value of
another Pre-IPO Tax Asset;

provided, however, that the value of any Pre-IPO Tax Asset shall be reduced (but
not below zero) by the value of any Post-IPO Tax Asset (other than a carryback
of (1) a net operating loss, (2) tax credit or (3) any other Post-IPO Tax Asset)
to the extent that such Post-IPO Tax Asset could have otherwise been used or
absorbed by the TODCO Tax Group, but for the existence of a Pre-IPO Tax Asset,
to similarly reduce the Tax for which TODCO is liable under Section 2.  For
purposes of the immediately preceding sentence, a Post-IPO Tax Asset will also
be considered eligible to have otherwise been used or absorbed if such Tax Asset
was used or absorbed on the relevant Tax Return as a deduction and could have
been used or absorbed as a tax credit, but for the existence of a Pre-IPO Tax
Asset.  Any Post-IPO Tax Asset that TODCO (or Holdings, by reason of Section
3.2(b)(ii)) may elect to treat either as a tax credit or a deduction shall be
valued in the following manner: (x) in the case of a Tax Asset that is reported
on the relevant Tax Return as a tax credit, the Tax Asset shall have a value
equal to 80 percent of its value determined under Section 4.2(c)(ii), and (y) in
the case of a Tax Asset that is reported on the relevant Tax Return as a
deduction, the Tax Asset shall have a value equal to 80 percent of the excess of
its value as if determined under Section 4.2(c)(ii) over its value determined
under Section 4.2(c)(i).

-17-

--------------------------------------------------------------------------------

                              (d)     Determination of Tax Assets Used or
Absorbed.  The determination of (x) whether any Pre-IPO Tax Asset (including any
Tax Asset treated as a Pre-IPO Tax Asset pursuant to Section 4.2(b)(iv)) has
been used or absorbed on any relevant Tax Return after the IPO Closing Date, (y)
the value of any such Tax Asset as determined pursuant to Section 4.2(c), and
(z) whether any other Tax Asset becomes described in Section 4.2(b)(iv) as a
result of the use or absorption of any Pre-IPO Tax Asset shall be made by TODCO
and reported by a nationally recognized accounting firm no later than twenty
(20) days after the date on which the relevant Tax Return is filed.  Such
accounting firm shall report such determination by applying the same standards
as it would in preparing a tax return that it would sign as an “income tax
return preparer” (as defined in Section 7701(a)(36) of the Code) and such
accounting firm shall sign a letter certifying that such determination has been
made in accordance with such standards and on a fair and impartial basis. 
Holdings shall be given an opportunity to review such determination and the
supporting schedules and calculations.  Holdings shall be given the opportunity
to ask questions of the accounting firm, and if Holdings is not satisfied with
the detail given in the supporting schedules, the accounting firm shall provide
Holdings with any additional supporting detail as Holdings shall reasonably
request.  Holdings shall have, in its sole discretion, the right to designate a
nationally recognized accounting firm and shall bear all costs associated with
such firms reporting under this Section 4.2(d).

                              (e)     Forecast of Tax Assets Used or Absorbed. 
If during any Tax Year ending after the IPO Closing Date any Pre-IPO Tax Asset
continues to be available for use by any member of the TODCO Tax Group, then
TODCO shall provide to Holdings, no later than March 15, June 15, September 15
and December 15 of such year, periodic forecasts of (1) the use of such Tax
Asset during such year, (2) the value of such Tax Asset, (3) whether any other
Tax Asset will become described in Section 4.2(b)(iv) and (4) any other items
reasonably requested by Holdings.  TODCO shall also provide to Holdings, no
later than October 15 of such year, a forecast of (1) the use or absorption of
any such Tax Asset in the following year, (2) the value of such Tax Asset, (3)
any other Tax Asset that will become described in Section 4.2(b)(iv) and (4) any
other items reasonably requested by Holdings.

                              (f)     Acceleration of Payments Upon Change of
Control.  If on any day following the IPO Closing Date any person or entity
other than a member of the Transocean Tax Group owns stock (or would be treated
as owning stock if the attribution rules of Section 318(a) of the Code were to
apply) possessing greater than 50% of the voting power of all of the outstanding
TODCO stock, all unused Pre-IPO Tax Assets (except deemed Pre-IPO Tax Assets
under Section 4.4, which will be payable when utilized as otherwise set forth in
this Agreement) shall, for purposes of Section 4.2(a), be treated as having been
used by TODCO on a Tax Return filed immediately prior to such day.  In such
case, TODCO shall, in accordance with Section 5, pay to Holdings (or another
member of the Transocean Tax Group designated by Holdings pursuant to Section
5.5) the amount equal to the product of (x) the value of all unused Pre-IPO Tax
Assets and (y) the Applicable Discount Rate for the year in which the Tax Return
including such Pre-IPO Tax Assets is treated as being filed.  The value of all
such unused Pre-IPO Tax Assets shall be determined pursuant to Sections
4.2(c)(i), (ii) and (iii), without reduction by the value of any Post-IPO Tax
Asset.  However, if any such unused Pre-IPO Tax Asset (other than a Tax Asset
that is a Pre-IPO Tax Asset by reason of Section 4.2(b)(iv)) is a foreign tax
credit under Section 901 of the Code, then such unused Pre-IPO Tax Asset shall
be valued under Section 4.2(c)(i) as if it were a deduction rather than under
Section 4.2(c)(ii).

-18-

--------------------------------------------------------------------------------

                              (g)     Acceleration of Payments Upon
Deconsolidation.  If on any day following the IPO Closing Date any member of the
TODCO Tax Group ceases to join in the filing of a Federal Income Tax Return
which is filed on a consolidated basis by TODCO, as the common parent, and its
eligible Subsidiaries (as determined under Section 1504(a) of the Code or any
successor provision), all Pre-IPO Tax Assets attributable to such member (except
deemed Pre-IPO Tax Assets under Section 4.4, which will be payable when utilized
as otherwise set forth in this Agreement) shall, for purposes of Section 4.2(a),
be treated as having been used on a Tax Return filed immediately prior to such
day.  A Tax Asset shall be attributable to a member of the TODCO Tax Group if
such member would be entitled to deduct, credit or otherwise use, under the
relevant Tax Law, such Pre-IPO Tax Asset on a Tax Return filed with respect to
any Tax Year, or portion thereof, beginning after such day.  If any Pre-IPO Tax
Asset is treated as being used pursuant to this Section 4.2(g), TODCO shall, in
accordance with Section 5, pay to Holdings (or another member of the Transocean
Tax Group designated by Holdings pursuant to Section 5.5) the amount equal to
the product of (x) the value of such Pre-IPO Tax Asset and (y) the Applicable
Discount Rate for the year in which the Tax Return including such Pre-IPO Tax
Asset is treated as being filed.  The value of such Pre-IPO Tax Asset shall be
determined pursuant to Sections 4.2(c)(i), (ii) and (iii), without reduction by
the value of any Post-IPO Tax Asset.  However, if such Pre-IPO Tax Asset (other
than a Tax Asset that is a Pre-IPO Tax Asset by reason of Section 4.2(b)(iv)) is
a foreign tax credit under Section 901 of the Code, then such Pre-IPO Tax Asset
shall be valued under Section 4.2(c)(i) as if it were a deduction rather than
under Section 4.2(c)(ii).

                              (h)     Other Special Rules.  The following rules
shall apply for purposes of applying this Section:

                                        (i)      Ordering Rules.  If as a result
of the application of Section 4.2(a), Section 4.2(f) or Section 4.2(g) a Tax
Asset is treated as used or absorbed more than once, such Tax Asset shall be
treated as used, for purposes of this Section 4, only once and at the earliest
possible date.

                                        (ii)     Alternative Minimum Tax.  This
Section 4 shall be applied without regard to the alternative minimum tax and the
alternative minimum tax credit provisions of Sections 53 and 55 through 59 of
the Code; provided, however, that this Section 4 shall apply to any credit under
Section 53 of the Code arising out of the payment of alternative minimum tax
under Section 55 of the Code with respect a Tax Year, or portion thereof, ending
on or before the IPO Closing Date.  For purposes of Section 4.2(a), TODCO will
be deemed to use or absorb any credit under Section 53 of the Code that is a
Pre-IPO Tax Asset only after it has used or absorbed all other available credits
under Section 53 of the Code.

                                        (iii)    Trinidad and Tobago Taxes and
Tax Assets.  Section 4.2(a) shall not apply, and TODCO shall have no obligation
to pay Holdings, with respect to any Pre-IPO Tax Asset, to the extent that such
Tax Asset either (x) reduces a Foreign Income Tax imposed by the Republic of
Trinidad and Tobago and the creation of such Tax Asset was attributable to the
TODCO Business or (y) is generated as a result of the payment of a Foreign
Income Tax imposed by the Republic of Trinidad and Tobago and such Foreign
Income Tax was attributable to the TODCO Business.

-19-

--------------------------------------------------------------------------------

                                        (iv)     Reduction in Value of State Tax
Assets to Offset Loss of Federal Income Tax Deductions.  The value, as otherwise
determined under Section 4.2(c), of any Pre-IPO Tax Asset that reduces a State
Income Tax shall be reduced by the deemed lost Federal Income Tax related Tax
Benefit, which shall be the product of (1) the value of such Pre-IPO Tax Asset
as otherwise determined under Section 4.2(c) and (2) the highest statutory tax
rate applicable under Section 11 of the Code.

                                        (v)     Reduction in Value of Foreign
Tax Assets to Offset Loss of Federal Income Tax Deductions.  The value, as
otherwise determined under Section 4.2(c), of any Pre-IPO Tax Asset that reduces
a Foreign Income Tax shall be reduced by the deemed lost Federal Income Tax
related Tax Benefit, which shall be the product of (1) the value of such Pre-IPO
Tax Asset as otherwise determined under Section 4.2(c) and (2) the highest
statutory tax rate applicable under Section 11 of the Code.

                                        (vi)     Examples.  The operation of
various provisions of this Section 4 is illustrated by examples in Appendix A of
this Agreement.

                    4.3     Claims for Refund from Carrybacks.

                              (a)     Filing Claims and Making Payments for
Carrybacks.  If the TODCO Tax Group generates a Carryback to a Consolidated Year
or Combined Year, then, upon request of TODCO, Holdings may, in its sole
discretion, file a claim for refund arising from such Carryback and pay such
refund to TODCO in accordance with Section 5.

                              (b)     Adjustment of Tax Items. In the event that
a Carryback by the TODCO Tax Group to a Consolidated Year or Combined Year
increases the liability for Taxes of the Transocean Tax Group, the amount of the
refund to which the TODCO Tax Group shall be entitled to receive, in accordance
with Section 5, shall be net of such increased liability to the Transocean Tax
Group.

                    4.4     Tax Benefits Resulting from Exercise of Stock
Options.  If pursuant to the exercise of a stock option listed on Schedule 4.4,
the Transocean Tax Group delivers (or is deemed to deliver in the case of a
cashless exercise) stock of Transocean to the person exercising such option,
then (x) 55% of the deduction under Section 83 of the Code or any other relevant
provision of federal Tax Law and (y) 55% of the deduction for amounts paid by
Holdings pursuant to Section 2.5(f), in each case, with respect to the delivery
of such stock shall be treated as a Pre-IPO Tax Asset for purposes of Section
4.2 and subject to the payment provisions of Section 5.  Any stock option (or a
portion thereof) not otherwise listed on Schedule 4.4 shall be deemed to be
listed on Schedule 4.4 if Holdings establishes to the reasonable satisfaction of
TODCO (or the Internal Revenue Service concludes on audit of either Holdings or
TODCO) that the delivery of Transocean stock pursuant to the exercise of such
option (or portion thereof) would give rise to a deduction allocable to a member
of the TODCO Tax Group.

-20-

--------------------------------------------------------------------------------

                    SECTION 5.  Tax Payments and Intercompany Billings.

                    5.1     Consolidated and Combined Returns.

                              (a)     Computation and Payment of Tax Due. At
least ten business days prior to any Payment Date for a Consolidated or Combined
Return, Holdings shall compute the amount of Tax required to be paid to the
relevant Tax Authority with respect to such Tax Return on such Payment Date and
shall notify TODCO in writing of (x) the amount of Tax required to be paid on
such Payment Date, and (y) the amount, if any, of such Tax which is allocable to
TODCO under Sections 2.1(a), 2.2(a) and 2.3(a).  Holdings will pay, or shall
cause one or more of its Subsidiaries (other than members of the TODCO Tax
Group) to pay, the amount described in clause (x) of the immediately preceding
sentence to the relevant Tax Authority on or before such Payment Date.

                              (b)     Computation and Payment of TODCO Liability
With Respect to Tax Due.  Within thirty days following any Payment Date, TODCO
will pay to Holdings (or another member of the Transocean Tax Group designated
by Holdings pursuant to Section 5.5) the amount, if any, of Tax paid on such
Payment Date for which TODCO is liable in accordance with Sections 2.1(a),
2.2(a) and 2.3(a), appropriately adjusted for prior payments made by TODCO with
respect to that Consolidated or Combined Year.  If, at any time, the total
amount of payments made by TODCO to Transocean (or any of its Subsidiaries other
than members of the TODCO Tax Group) with respect to Taxes for a Consolidated or
Combined Year exceeds the amount for which TODCO is liable in accordance with
Sections 2.1(a), 2.2(a) and 2.3(a), Holdings will promptly remit the excess to
TODCO.

                    5.2     Payment of Refunds, Tax Benefits, and Tax Assets. 
Except as otherwise provided in Section 5.8 or any other part of this Agreement:

                              (a)     Refund or Tax Benefit Received by
Transocean Tax Group. If a member of the Transocean Tax Group receives a Tax
refund with respect to Taxes for which a member of the TODCO Tax Group is liable
hereunder or receives a Tax Benefit for which TODCO is entitled to reimbursement
hereunder, Holdings, as appropriate, shall pay to TODCO, within thirty days
following the receipt of the Tax refund or Tax Benefit, an amount equal to such
Tax refund or Tax Benefit.  Unless specified otherwise in this Agreement, a Tax
Benefit will be considered received at the time the Tax Return is filed with
respect to such Tax Benefit.

                              (b)     Refund Received by TODCO Tax Group. If a
member of the TODCO Tax Group receives a Tax refund with respect to Taxes for
which a member of the Transocean Tax Group is liable hereunder, TODCO shall pay
to Holdings, within thirty days after the receipt of the Tax refund, an amount
equal to such Tax refund.

                              (c)     Tax Asset Used by TODCO Tax Group.

-21-

--------------------------------------------------------------------------------

                                        (i)     Estimated Payments.  TODCO
shall, consistent with the principles of Section 4.2, estimate the value of all
Pre-IPO Tax Assets utilized in determining each required installment of
estimated taxes payable by any member of the TODCO Tax Group either to Holdings
under Section 5.1(b) or to a Tax Authority under Code Section 6655 (without
regard to Code Section 6655(d)(1)(B)(ii)) or other applicable Tax Law.  Within
thirty days following the required payment date for such installment (and
whether or not any payment is actually made), TODCO shall pay to Holdings the
estimated value of such Pre-IPO Tax Assets, reduced by any payments previously
made by TODCO to Holdings, and increased by any payments previously made by
Holdings to TODCO, pursuant to this Section 5.2(c)(i) for the same Tax Year.  If
the adjustments described in the immediately preceding sentence result in a
deficit (i.e., a reduction below zero), then Holdings will promptly remit to
TODCO the amount of such deficit.  Solely for purposes of this Section
5.2(c)(i), the estimated value of the Pre-IPO Tax Assets utilized in determining
the required installment shall be (i) in the case of the first required
installment, 25% of the value of the Pre-IPO Tax Assets estimated to be used
during the entire year, (ii) in the case of the second required installment, 50%
of such value, (iii) in the case of the third required installment, 75% of such
value, and (iv) in the case of the fourth required installment, 100% of such
value.

                                        (ii)     Date Tax Return is Due.  If any
member of the TODCO Tax Group receives an extension of the due date for filing a
Tax Return, as determined under Code Section 6072 or other applicable Tax Law,
TODCO shall, consistent with the principles of Section 4.2, estimate the value
of all Pre-IPO Tax Assets that will be used or absorbed on such Tax Return. 
Within thirty days following such due date (determined without regard to
extensions), TODCO shall pay to Holdings the estimated value of such Pre-IPO Tax
Assets, reduced by any payments previously made by TODCO to Holdings, and
increased by any payments previously made by Holdings to TODCO, pursuant to
Section 5.2(c)(i) for the same Tax Year.  If the adjustments described in the
immediately preceding sentence result in a deficit (i.e., a reduction below
zero), then Holdings will promptly remit to TODCO the amount of such deficit.

                                        (iii)    Date Tax Return is Filed. 
Within thirty days after any member of the TODCO Tax Group files a Tax Return
for a Tax Year under Code Section 6012 or other applicable Tax Law, TODCO shall
pay to Holdings the value of all Pre-IPO Tax Assets used or absorbed on such Tax
Return as determined under Section 4.2 and 4.4, reduced by any payments
previously made by TODCO to Holdings, and increased by any payments previously
made by Holdings to TODCO, pursuant to Sections 5.2(c)(i) and (ii) for the same
Tax Year.  If the adjustments described in the immediately preceding sentence
result in a deficit (i.e., a reduction below zero), then Holdings will promptly
remit to TODCO the amount of such deficit.

                    5.3     Initial Determinations and Subsequent Adjustments.

                              (a)     General Rules.  The initial determination
of the amount of a payment, if any, which one Company is required to make to
another under this Agreement shall be made on the basis of the Tax Return as
filed, or, if the Tax to which the payment relates is not reported in a Tax
Return, on the basis of  the amount of Tax initially paid to the Tax Authority. 

-22-

--------------------------------------------------------------------------------

Except as otherwise provided in Section 8.3, payments will be made, as
appropriate, if as a result of an audit by a Tax Authority or for any other
reason (x) additional Taxes to which such determination relates are subsequently
paid, (y) a refund of such Taxes or a Tax Benefit relating to such Taxes is
received, or (z) the amount or character of any Tax Item is adjusted or
redetermined.  Except as otherwise provided in Section 5.8, each payment
required by the immediately preceding sentence (x) as a result of a payment of
additional Taxes will be due thirty days after the date on which the additional
Taxes were paid or, if later, thirty days after the date of a request from the
other Company for the payment, (y) as a result of the receipt of a refund or Tax
Benefit will be due thirty days after the refund or Tax Benefit was received, or
(z) as a result of an adjustment or redetermination of the amount or character
of a Tax Item will be due thirty days after the date on which the final action
resulting in such adjustment or redetermination is taken by a Tax Authority or
either Company.  If a payment is made as a result of an audit by a Tax Authority
which does not conclude the matter, further adjusting payments will be made, as
appropriate, to reflect the outcome of subsequent administrative or judicial
proceedings.

                              (b)     Taxes that Generate TODCO Tax Benefits. 
Except as otherwise provided in Section 5.8, if (x) pursuant to Section 5.3(a),
Holdings indemnifies TODCO and its Subsidiaries against any additional State
Income Tax, Foreign Income Tax, or Other Tax that is attributable to any Tax
Year or portion thereof beginning before the IPO Closing Date and (y) the
payment of such Tax generates a present or potential future Tax Benefit to the
TODCO Tax Group, then TODCO shall be liable for and pay to Holdings within
thirty days after the payment of such Tax by Holdings the deemed value of such
Tax Benefit.  For purposes of this Section 5.3(b), the deemed value of such Tax
Benefit shall be an amount equal to the product of (x) the amount of the Tax
giving rise to such Tax Benefit and (y) the highest statutory rate applicable
under Section 11 of the Code.  However, if any Tax otherwise described in this
Section 5.3(b) exceeds U.S.$1.0 million, determined separately for each Tax
Contest, the Tax Benefit relating to such Tax shall not be treated as a Tax
Benefit described in this Section 5.3(b), but the underlying deduction allowed
by the Code arising from the payment of such Tax shall be treated in the same
manner as if it were a Pre-IPO Tax Asset described in Section 4.2.

                    5.4     Indemnification Payments.   Except as otherwise
provided in Section 2.5(d), if any member of one Group is required to make a
payment to a Tax Authority for Taxes for which a Company belonging to the other
Group is liable under this Agreement, the Company which is liable for such Taxes
under this Agreement will remit the amount for which it is liable to the
appropriate other Company within thirty days after receiving notification
requesting such amount.

                    5.5     Payments by or to Other Members of the Groups.  When
appropriate under the circumstances to reflect the underlying liability for a
Tax or entitlement to a Tax refund or Tax Benefit, a payment which is required
to be made by or to a Company may be made by or to another member of the Group
to which that Company belongs, but nothing in this Section 5.5 shall relieve any
Company of its obligations under this Agreement.

-23-

--------------------------------------------------------------------------------

                    5.6     Interest.     Payments pursuant to this Agreement
that are not made within the period prescribed in this Agreement or, if no
period is prescribed, within fifteen (15) business days after demand for payment
is made (the “Payment Period”) shall bear interest for the period from and
including the date immediately following the last date of the Payment Period
through and including the date of payment at a per annum rate equal to the Wall
Street Journal Prime Rate plus 2%.  Such interest will be payable at the same
time as the payment to which it relates and shall be calculated on the basis of
a year of 365 days and the actual number of days for which due.

                    5.7     Tax Consequences of Payments.  For all Tax purposes
and to the extent permitted by applicable law, the parties hereto shall treat
any payment made pursuant to this Agreement as a capital contribution or a
distribution, as the case may be, immediately prior to the Effective Date and,
accordingly, as not includible in the taxable income of the recipient.

                    5.8     Subordination Agreement.  [Intentionally omitted].

                    SECTION 6.  Assistance and Cooperation.  The parties will
cooperate (and cause their respective affiliates to cooperate) with each other
and with each other’s agents, including accounting firms and legal counsel, in
connection with Tax matters, including provision of relevant documents and
information in their possession and making available to each other, as
reasonably requested and available, personnel (including officers, directors,
employees and agents of the Companies or their affiliates) responsible for
preparing, maintaining, and interpreting information and documents relevant to
Taxes, and personnel reasonably required as witnesses or for purposes of
providing information or documents in connection with any administrative or
judicial proceedings relating to Taxes. Any information or documents provided
under this Section 6 shall be kept confidential by the Company receiving the
information or documents, except as may otherwise be necessary in connection
with the filing of Tax Returns or in connection with any administrative or
judicial proceedings relating to Taxes.

                    SECTION 7.  Tax Records.

                    7.1     Retention of Tax Records.   Each Company shall
preserve, and shall cause its affiliates to preserve, all Tax Records which are
in its possession, and which could affect the liability of any member of the
other Group for Taxes, for so long as the contents thereof may become material
in the administration of any matter under applicable Tax Law, but in any event
until the later of (x) the expiration of any applicable statutes of limitation,
as extended, and (y) seven years after the IPO Closing Date.

                    7.2     Access to Tax Records.  The Companies and their
respective affiliates shall make available to members of the other Group for
inspection and copying during normal business hours upon reasonable notice all
Tax Records in their possession to the extent reasonably requested by any such
member of the other Group in connection with the preparation of Tax Returns,
audits, litigation, or the resolution of items under this Agreement.

-24-

--------------------------------------------------------------------------------

                    SECTION 8.  Tax Contests.

                    8.1     Notices.   Each of the parties shall provide prompt
notice to the other party of any pending or threatened Tax audit, assessment or
proceeding or other Tax Contest of which it becomes aware relating to Taxes for
which it is or may be indemnified by the other party hereunder. Such notice
shall contain factual information (to the extent known) describing any asserted
Tax liability in reasonable detail and shall be accompanied by copies of any
notice and other documents received from any Tax Authority in respect of any
such matters. If an indemnified party has knowledge of an asserted Tax liability
with respect to a matter for which it is to be indemnified hereunder and such
party fails to give the indemnifying party prompt notice of such asserted Tax
liability, then (x) if the indemnifying party is precluded from contesting the
asserted Tax liability in any forum as a result of the failure to give prompt
notice, the indemnifying party shall have no obligation to indemnify the
indemnified party for any Taxes arising out of such asserted Tax liability, and
(y) if the indemnifying party is not precluded from contesting the asserted Tax
liability in any forum, but such failure to give prompt notice results in a
monetary detriment to the indemnifying party, then any amount which the
indemnifying party is otherwise required to pay the indemnified party pursuant
to this Agreement shall be reduced by the amount of such detriment.

                    8.2     Control of Tax Contests.  Each Company shall have
full responsibility and discretion in handling, settling or contesting any Tax
Contest involving a Tax for which it is liable pursuant to Section 2 of this
Agreement, except that (x) Holdings shall have full responsibility and
discretion in handling, settling or contesting any Tax Contest with respect to a
Consolidated Return or Combined Return and (y) TODCO shall not, without written
consent from Holdings, exercise its discretion in handling, settling or
contesting or paying Taxes subject to any Tax Contest in a manner that TODCO
knows, or reasonably should know, would adversely affect any member of the
Transocean Tax Group.

                    8.3     Cooperation.  The indemnified Company shall provide
the Company controlling any Tax Contest pursuant to Section 8.2 with all
information relating to the indemnified Company and its Subsidiaries which the
Company controlling the Tax Contest needs to handle, settle or contest the Tax
Contest.  At the request of the Company controlling the Tax Contest, the
indemnified Company shall take any action (e.g., executing a power of attorney)
that is reasonably necessary in order for the Company controlling the Tax
Contest to handle, settle or contest the Tax Contest.  TODCO shall assist
Holdings, and Holdings shall assist TODCO, in taking any remedial actions which
are necessary or desirable to minimize the effects of any adjustment made by a
Tax Authority, including without limitation those described in Internal Revenue
Service Revenue Procedure 99-32.  The Company controlling the Tax Contest shall
have no obligation to indemnify the indemnified Company for any additional Taxes
resulting from the Tax Contest, if the indemnified Company fails to cooperate
fully or provide complete assistance to the Company controlling the Tax Contest.

-25-

--------------------------------------------------------------------------------

                    SECTION 9.  Restriction on Certain Post-IPO Actions of
TODCO.  TODCO agrees that it will not take or fail to take, or permit any
Subsidiary of TODCO to take or fail to take, any action where such action or
failure to act would be inconsistent with or prohibit a distribution by
Transocean of its stock in TODCO from qualifying as a tax-free distribution
under Section 355 of the Code.  TODCO also agrees that (i) TODCO has no
intentions of causing its wholly owned subsidiary, THE Offshore Drilling
Company, to dispose of the assets it acquired from R&B Falcon Holdings Inc. in a
February 2003 merger of those two companies, (ii) TODCO will cause THE Offshore
Drilling Company to continue without  interruption the business it conducted
prior to the February 2003 merger, and (iii) TODCO has no intention of
disposing  of the stock of THE Offshore Drilling Company that it received in the
February 2003 merger.

                    SECTION 10.  General Provisions.

                    10.1     Survival of Obligations.  The representations,
warranties, covenants and agreements set forth in this Agreement shall be
unconditional and absolute and shall remain in effect without limitation as to
time.

                    10.2     Expenses.  Each Company and its affiliates shall
bear their own expenses incurred in connection with preparation of Tax Returns,
Tax Contests, and other matters related to Taxes under the provisions of this
Agreement.

                    10.3     Breach of Agreement.  A breach of this Agreement
shall be treated as a breach of an Ancillary Agreement within the meaning of
Sections 3.3(c) or 3.4(c), as appropriate, of the Master Separation Agreement.

                    10.4     Disputes.  The procedures for discussion,
negotiation and arbitration set forth in Article VI of the Master Separation
Agreement shall apply to all disputes, controversies or claims (whether sounding
in contract, tort or otherwise) that may rise out of or relate to, or arise
under or in connection with this Agreement.

                    10.5     Notices.   All notices and other communications
hereunder shall be in writing and shall be delivered in person, by telecopy, by
express or overnight mail delivered by a nationally recognized air courier
(delivery charges prepaid), or by registered or certified mail (postage prepaid,
return receipt requested) to the respective parties as follows:

 

(a)  If to Holdings to:

 

 

 

 

 

Robert W. Kemp

 

 

Assistant Vice President, Tax

 

 

Transocean Offshore Deepwater Drilling, Inc.

 

 

4 Greenway Plaza, Suite 800

 

 

Houston, Texas 77046

 

 

 

 

(b)  If to TODCO to:

 

 

 

 

 

T. Scott O’Keefe

 

 

Executive Vice President, Finance and Administration

 

 

TODCO

 

 

2000 W. Sam Houston Parkway South, Suite 800

 

 

Houston, Texas 77042

-26-

--------------------------------------------------------------------------------

or to such other address as the party to whom notice is given may have
previously furnished to the others in writing in the manner set forth above. Any
notice or communication delivered in person shall be deemed effective on
delivery or when delivery is refused. Any notice or communication sent by
telecopy or by air courier shall be deemed effective on the first business day
at the place at which such notice or communication is received following the day
on which such notice or communication was sent.

                    10.6     Counterparts.  This Agreement may be executed in
two or more counterparts, each of which shall be deemed to be an original, but
all of which together shall constitute one and the same agreement. The Agreement
may be delivered by facsimile transmission of a signed copy thereof.

                    10.7     Binding Effect; Assignment.  This Agreement and all
of the provisions hereof shall be binding upon the parties hereto and inure to
the benefit of the parties hereto and their respective successors and permitted
assigns. Except with respect to a merger of a party, neither this Agreement nor
any of the rights, interests or obligations hereunder shall be assigned by any
party hereto without the prior written consent of the other parties, which
consent shall not be unreasonably withheld or delayed; provided, however, that
Holdings and TODCO may assign their respective rights, interests, duties,
liabilities and obligations under this Agreement to any other member of their
Group, but such assignment shall not relieve Holdings or TODCO, as the assignor,
of its obligations hereunder.

                    10.8     Severability.  Any provision of this Agreement
which is prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof. Any such
prohibition or unenforceability in any jurisdiction shall not invalidate or
render unenforceable such provision in any other jurisdiction.

                    10.9     Amendment.  This Agreement may not be amended or
modified in any respect except by a written agreement signed by all of the
parties hereto.

                    10.10   Effective Time.  This Agreement shall become
effective on the Effective Date.

                    10.11   Change in Law.   Any reference to a provision of the
Code or any other Tax Law shall include a reference to any applicable successor
provision or law.

-27-

--------------------------------------------------------------------------------

                    10.12    Authorization, Etc.    Each of the parties hereto
hereby represents and warrants that it has the power and authority to execute,
deliver and perform this Agreement, that this Agreement has been duly authorized
by all necessary corporate action on the part of such party, that this Agreement
constitutes a legal, valid and binding obligation of each such party and that
the execution, deliver and performance of this Agreement by such party does not
contravene or conflict with any provision of law or of its charter or bylaws or
any agreement, instrument or order binding such party.

                    10.13     No Third Party Beneficiaries.   Except as provided
in Sections 3.3 and 3.4 of the Master Separation Agreement, this Agreement is
solely for the benefit of Transocean, Holdings, TODCO and their Subsidiaries and
is not intended to confer upon any other person any rights or remedies
hereunder.

-28-

--------------------------------------------------------------------------------

                    IN WITNESS WHEREOF, the parties have caused this Agreement
to be executed by the respective officers as of the date set forth above.

 

TRANSOCEAN HOLDINGS INC.

 

 

 

 

 

 

 

By:

/s/ Robert W. Kemp

 

 

--------------------------------------------------------------------------------

 

Name:

Robert W. Kemp

 

Title:

Assistant Vice President, Tax

 

 

 

 

 

 

 

TODCO

 

 

 

 

 

 

 

By:

/s/ T. Scott O’Keefe

 

 

--------------------------------------------------------------------------------

 

Name:

T. Scott O’Keefe

 

Title:

Executive Vice President,

 

 

Finance and Administration

-29-

--------------------------------------------------------------------------------

SCHEDULE 1.1

Applicable Discount Rates

2004

 

0.80

2005

 

0.70

2006

 

0.70

2007

 

0.80

2008

 

0.80

2009

 

0.85

2010

 

0.90

2011

 

0.95

2012

 

0.95

2013 and later years

 

1.00

-30-

--------------------------------------------------------------------------------

SCHEDULE 1.2

TODCO Tax Group

Cliffs Drilling (Barbados) Holdings SRL

Cliffs Drilling (Barbados) SRL

Cliffs Drilling Company

Cliffs Drilling de Venezuela, S.A.

Cliffs Drilling Trinidad L.L.C.

Cliffs Drilling Trinidad Offshore Limited

Perforaciones Falrig de Venezuela C.A.

Servicos Integrados Petroleros C.C.I., S.A.

Servicios TODCO, de RL de C.V.

THE Offshore Drilling Company

TODCO

TODCO Management Services, Inc. LLC

TODCO Mexico, Inc.

TODCO Trinidad Ltd.

-31-

--------------------------------------------------------------------------------

SCHEDULE 1.3

Transocean Tax Group

Aguas Profundas Limitada

Arcade Drilling AS

Asie Sonat Offshore Sdn Bhd

Cariba Ships Corporation N.V.

Caspian Sea Ventures International, Ltd.

Cliffs Drilling do Brasil Servicos de Petroleo S/C Ltda.

DeepVision LLC

Deepwater Drilling II L.L.C.

Deepwater Drilling L.L.C.

Falcon Atlantic Ltd.

Hellerup Finance International

International Chandlers Inc.

NRB Drilling Services Limited

Overseas Drilling Limited

P.T. Hitek Nusantara Offshore Drilling

PT Transocean Indonesia

R&B Falcon (A) Pty Ltd.

R&B Falcon (Caledonia) Limited

R&B Falcon (Ireland) Limited

R&B Falcon (M) Sdn. Berhad

R&B Falcon (U.K.) Limited

R&B Falcon B.V.

R&B Falcon Canada Co.

R&B Falcon Deepwater (UK) Limited

R&B Falcon Drilling (International & Deepwater) Inc. LLC

R&B Falcon Drilling Co. LLC

R&B Falcon Drilling do Brasil Ltda.

R&B Falcon Drilling Limited, LLC

R&B Falcon Exploration Co. LLC

R&B Falcon International Energy Services B.V.

R&B Falcon Offshore Limited, LLC

R&B Falcon, Inc. LLC

RB Anton Ltd.

RB Astrid Ltd.

RB Mediterranean Ltd.

RBF (Nigeria) Limited

RBF Drilling Co. LLC

RBF Drilling Services, Inc. LLC

RBF Exploration LLC

RBF Finance Co.

RBF Rig Corporation LLC

RBF Servicos Angola, Limitada

Reading & Bates - Demaga Perfuracoes Ltda.

-32-

--------------------------------------------------------------------------------

Reading & Bates Coal Co. LLC

SDS Offshore Ltd.

Sedco Forex Canada Ltd.

Sedco Forex Corporation

Sedco Forex Holdings Limited

Sedco Forex International Drilling, Inc.

Sedco Forex International Services, S.A.

Sedco Forex International, Inc.

Sedco Forex of Nigeria Limited

Sedco Forex Offshore International N.V.

Sedco Forex Technical Services, Inc.

Sedco Forex Technology, Inc.

Sedneth Panama, S.A.

Sefora Maritime Limited

Services Petroliers Sedco Forex

Shore Services, LLC

Sonat Brasocean Servicos De Perfuracoes Ltda.

Sonat Offshore do Brasil Perfuracoes Maritimas Ltda.

Sonat Offshore SA

TI International S. de R.L. de C.V.

Transocean Alaskan Ventures Inc.

Transocean Brasil Ltda.

Transocean Deepwater Frontier Limited

Transocean Deepwater Pathfinder Limited

Transocean Discoverer 534 LLC

Transocean Drilling (Nigeria) Ltd.

Transocean Drilling (U.S.A.) Inc.

Transocean Drilling Ltd.

Transocean Drilling Services Inc.

Transocean Drilling Sdn. Bhd.

Transocean Enterprise Inc.

Transocean Holdings Inc.

Transocean I AS

Transocean Inc.

Transocean International Drilling Inc.

Transocean International Drilling Limited

Transocean International Resources, Ltd.

Transocean Investmentivos Ltda.

Transocean Investments S.à.r.l.

Transocean Jupiter LLC

Transocean Management Inc.

Transocean Mediterranean LLC

Transocean Offshore (Cayman) Inc.

Transocean Offshore (North Sea) Ltd.

Transocean Offshore (U.K.) Inc.

Transocean Offshore Caribbean Sea, L.L.C.

-33-

--------------------------------------------------------------------------------

Transocean Offshore D.V. Inc.

Transocean Offshore Deepwater Drilling Inc.

Transocean Offshore Drilling Ltd.

Transocean Offshore Drilling Services LLC

Transocean Offshore Europe Limited

Transocean Offshore Holdings ApS

Transocean Offshore International Ltd.

Transocean Offshore International Ventures Limited

Transocean Offshore Limited

Transocean Offshore Nigeria Ltd.

Transocean Offshore Norway Inc.

Transocean Offshore Services Ltd.

Transocean Offshore USA Inc.

Transocean Offshore Ventures Inc.

Transocean Richardson LLC

Transocean Sedco Forex Brasil Ltda.

Transocean Sedco Forex Ventures Limited

Transocean Services AS

Transocean Services UK Ltd.

Transocean Seven Seas LLC

Transocean Sino Ltd.

Transocean Support Services Limited

Transocean UK Ltd.

Transocean-Nabors Drilling Technology, L.L.C.

Triton Drilling Mexico LLC

Triton Drilling Ltd.

Triton Holdings Limited

Triton Industries, Inc.

Triton Offshore Leasing Services Limited

Wilrig Drilling (Canada) Inc.

Wilrig Offshore (UK) Ltd.

-34-

--------------------------------------------------------------------------------

SCHEDULE 4.4

Transocean Stock Options

Name

 

ID

 

Grant
Number

 

Grant
Date

 

Option
Price

 

Options
Outstanding
At IPO

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

Adams, Bradley D.

 

69659

 

00002088

 

7/15/1999

 

$21.06

 

800

Adams, Michael Preston

 

68680

 

00002210

 

5/13/1998

 

$59.42

 

1,700

Adams, Michael Preston

 

68680

 

00001791

 

6/7/1999

 

$19.50

 

3,000

Agnew, Michael T.

 

67336

 

00000007

 

11/12/1998

 

$25.87

 

3,500

Agnew, Michael T.

 

67336

 

00001793

 

6/7/1999

 

$19.50

 

2,250

Ainsworth, James H.

 

69667

 

00003437

 

1/1/2001

 

$46.87

 

800

Alexander, Bradley Edward

 

71038

 

00002459

 

1/1/2000

 

$25.31

 

4,000

Altermann III, John A.

 

67396

 

00000028

 

11/12/1998

 

$25.87

 

3,000

Altermann III, John A.

 

67336

 

00001797

 

6/7/1999

 

$19.50

 

2,667

Amador, Daniel M.

 

69674

 

00002090

 

7/15/1999

 

$21.06

 

800

ANSLUM, JOSEPH C

 

67394

 

00002302

 

10/1/1999

 

$26.93

 

240

Arranz De La Torre, Emilio Jose

 

65662

 

00003327

 

7/1/2000

 

$47.37

 

7,500

Backstrom, Klaus W.

 

07536

 

00001799

 

6/7/1999

 

$19.50

 

10,500

Bain, Billy

 

71712

 

00002173

 

12/1/1998

 

$18.25

 

1,000

Bakonyi, Andras

 

67635

 

00000036

 

7/17/1995

 

$15.25

 

3,540

Bakonyi, Andras

 

67635

 

00000040

 

2/11/1999

 

$12.50

 

5,410

Bakonyi, Andras

 

67635

 

00000040

 

2/11/1999

 

$12.50

 

10,000

Bakonyi, Andras

 

67635

 

00000040

 

2/11/1999

 

$12.50

 

10,000

Bakonyi, Andras

 

67635

 

00000040

 

2/11/1999

 

$12.50

 

10,000

Bakonyi, Andras

 

67635

 

00000040

 

2/11/1999

 

$12.50

 

10,000

Bakonyi, Andras

 

67635

 

00000041

 

4/7/1999

 

$14.06

 

1,000

Bakonyi, Andras

 

67635

 

00000041

 

4/7/1999

 

$14.06

 

2,000

Bakonyi, Andras

 

67635

 

00000041

 

4/7/1999

 

$14.06

 

9,000

Bakonyi, Andras

 

67635

 

00000041

 

4/7/1999

 

$14.06

 

10,000

Bakonyi, Andras

 

67635

 

00000041

 

4/7/1999

 

$14.06

 

18,000

Bakonyi, Andras

 

67635

 

00000041

 

4/7/1999

 

$14.06

 

18,000

Bakonyi, Andras

 

67635

 

00000041

 

4/7/1999

 

$14.06

 

20,000

Bakonyi, Andras

 

67635

 

00000041

 

4/7/1999

 

$14.06

 

20,000

Bakonyi, Andras

 

67635

 

00000041

 

4/7/1999

 

$14.06

 

20,000

Bakonyi, Andras

 

67635

 

00000041

 

4/7/1999

 

$14.06

 

20,000

Bakonyi, Andras

 

67635

 

00000042

 

5/19/1999

 

$20.12

 

12,000

Bakonyi, Andras

 

67635

 

00000043

 

5/19/1999

 

$20.12

 

1,800

Bakonyi, Andras

 

67635

 

00000043

 

5/19/1999

 

$20.12

 

2,100

Bakonyi, Andras

 

67635

 

00000043

 

5/19/1999

 

$20.12

 

2,400

Bakonyi, Andras

 

67635

 

00000043

 

5/19/1999

 

$20.12

 

5,000

Bakonyi, Andras

 

67635

 

00000043

 

5/19/1999

 

$20.12

 

8,700

Bakonyi, Andras

 

67635

 

00000043

 

5/19/1999

 

$20.12

 

10,000

Bakonyi, Andras

 

67635

 

00000043

 

5/19/1999

 

$20.12

 

20,000

Bakonyi, Andras

 

67635

 

00002490

 

1/28/2000

 

$25.31

 

29,399

Bakonyi, Andras

 

67635

 

00002499

 

1/28/2000

 

$25.31

 

2,000

Bakonyi, Andras

 

67635

 

00002499

 

1/28/2000

 

$25.31

 

18,000

Bakonyi, Andras

 

67635

 

00002499

 

1/28/2000

 

$25.31

 

30,000

Bakonyi, Andras

 

67635

 

00002499

 

1/28/2000

 

$25.31

 

40,000

Baldry, Stephen A.

 

67637

 

00000048

 

11/12/1998

 

$25.87

 

1,334

Baldry, Stephen A.

 

67637

 

00001801

 

6/7/1999

 

$19.50

 

1,500

Baldwin, William Ray

 

67639

 

00000054

 

11/12/1998

 

$25.87

 

2,200

Baldwin, William Ray

 

67639

 

00000054

 

11/12/1998

 

$25.87

 

2,550

Baldwin, William Ray

 

67639

 

00001802

 

6/7/1999

 

$19.50

 

6,870

Barber, Stephen James

 

61284

 

00003255

 

4/1/2000

 

$41.25

 

3,000

Barkley, Floyd D.

 

62298

 

00001439

 

11/12/1998

 

$25.87

 

4,500

Barkley, Floyd D.

 

62298

 

00001804

 

6/7/1999

 

$19.50

 

4,000

Baugh, Dale Eugene

 

70888

 

00003342

 

7/1/2000

 

$47.37

 

1,120

Baugh, Dale Eugene

 

70888

 

00005426

 

7/14/2001

 

$38.07

 

3,140

-35-

--------------------------------------------------------------------------------

Name

 

ID

 

Grant
Number

 

Grant
Date

 

Option
Price

 

Options
Outstanding
At IPO

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

Baugh, Dale Eugene

 

70888

 

00005427

 

7/10/2002

 

$28.80

 

300

Baugh, Dale Eugene

 

70888

 

00005427

 

7/10/2002

 

$28.80

 

600

Baugh, Dale Eugene

 

70888

 

00005427

 

7/10/2002

 

$28.80

 

1,000

Baugh, Dale Eugene

 

70888

 

00005427

 

7/10/2002

 

$28.80

 

1,750

Berggren, Sven G.

 

67813

 

00000079

 

11/12/1998

 

$25.87

 

2,000

Berggren, Sven G.

 

67813

 

00001808

 

6/7/1999

 

$19.50

 

1,500

Berkel, Jeffery L.

 

63863

 

00001492

 

11/12/1998

 

$25.87

 

1,500

Bidinger, Dennis Claude

 

67855

 

00000088

 

11/12/1998

 

$25.87

 

5,500

Bidinger, Dennis Claude

 

67855

 

00001810

 

6/7/1999

 

$19.50

 

5,250

BLAKE, SR., MICHAEL E

 

66360

 

00001740

 

7/1/1998

 

$44.75

 

50,000

Bland, Raymond Frank

 

71892

 

00003201

 

4/1/2000

 

$41.25

 

480

Blastos, Michael Steven

 

67903

 

00000096

 

11/12/1998

 

$25.87

 

1,000

Blastos, Michael Steven

 

67903

 

00001813

 

6/7/1999

 

$19.50

 

1,300

Blunt, Jerry Jay

 

70897

 

00003343

 

7/1/2000

 

$47.37

 

1,120

Bonin, Laurence Martin

 

66375

 

00002094

 

7/15/1999

 

$21.06

 

560

Bonvillain, Jill R.

 

62023

 

00001374

 

11/12/1998

 

$25.87

 

1,000

Bonvillain, Jill R.

 

62023

 

00001814

 

6/7/1999

 

$19.50

 

600

Bonvillain, Jill R.

 

62023

 

00001814

 

6/7/1999

 

$19.50

 

700

Booth, Michael John

 

70962

 

00002427

 

1/1/2000

 

$25.31

 

480

Borel, Rene C.

 

63114

 

00001815

 

6/7/1999

 

$19.50

 

10,500

Boudoin, Johnny J.

 

62150

 

00001408

 

11/12/1998

 

$25.87

 

400

Boudoin, Johnny J.

 

62150

 

00001408

 

11/12/1998

 

$25.87

 

4,100

Boudoin, Johnny J.

 

62150

 

00001817

 

6/7/1999

 

$19.50

 

4,000

Boudoin, Johnny J.

 

62150

 

00003674

 

7/14/2001

 

$38.07

 

4,140

Boudoin, Johnny J.

 

62150

 

00005429

 

7/10/2002

 

$28.80

 

1,800

Boudoin, Johnny J.

 

62150

 

00005429

 

7/10/2002

 

$28.80

 

1,950

BOUDREAUX, CHARLES W

 

63987

 

00001504

 

11/12/1998

 

$25.87

 

100

BOUDREAUX, CHARLES W

 

63987

 

00001504

 

11/12/1998

 

$25.87

 

200

Boudreaux, Garett Lane

 

65936

 

00001739

 

11/12/1998

 

$25.87

 

1,000

Boudreaux, Garett Lane

 

65936

 

00001818

 

6/7/1999

 

$19.50

 

1,000

Boudreaux, Lonnie Joseph

 

16242

 

00003390

 

10/1/2000

 

$55.93

 

800

Boudreaux, Maxine Gautreaux

 

62285

 

00001433

 

11/12/1998

 

$25.87

 

1,000

Boudreaux, Maxine Gautreaux

 

62285

 

00001819

 

6/7/1999

 

$19.50

 

1,300

Branum, Eddie D.

 

68011

 

00000116

 

7/17/1995

 

$15.25

 

1,180

Breaux, Gary J

 

67309

 

00001239

 

11/12/1998

 

$25.87

 

667

Breaux, Gary J

 

67309

 

00001820

 

6/7/1999

 

$19.50

 

433

Breaux, Gary J

 

67309

 

00001820

 

6/7/1999

 

$19.50

 

434

Breaux, Gary J

 

67309

 

00003251

 

4/1/2000

 

$41.25

 

500

Breaux, Gary J

 

67309

 

00003251

 

4/1/2000

 

$41.25

 

1,000

Breaux, Michael J.

 

69706

 

00002095

 

7/15/1999

 

$21.06

 

800

Bruce, Thomas George

 

77219

 

00001198

 

11/12/1998

 

$25.87

 

600

Bruce, Thomas George

 

77219

 

00001825

 

6/7/1999

 

$19.50

 

600

BRUUN, TAUNO O

 

65405

 

00002096

 

7/15/1999

 

$21.06

 

30

Bryant, Clint

 

70834

 

00003328

 

7/1/2000

 

$47.37

 

7,500

Buford, Robert W.

 

69721

 

00002097

 

7/15/1999

 

$21.06

 

800

Buford, Robert W.

 

69721

 

00003389

 

10/1/2000

 

$55.93

 

320

Bullock, Richard D

 

71601

 

00002372

 

2/16/1999

 

$12.31

 

15,000

Burgess Jr., Obie

 

12727

 

00003438

 

1/1/2001

 

$46.87

 

320

Burley, Benjamin F.

 

62464

 

00001454

 

11/12/1998

 

$25.87

 

1,000

Burley, Benjamin F.

 

62464

 

00001826

 

6/7/1999

 

$19.50

 

1,300

Burns, Thomas S.

 

68198

 

00000159

 

11/12/1998

 

$25.87

 

4,500

Burns, Thomas S.

 

68198

 

00001827

 

6/7/1999

 

$19.50

 

2,000

Burns, Thomas S.

 

68198

 

00001827

 

6/7/1999

 

$19.50

 

2,000

-36-

--------------------------------------------------------------------------------

Name

 

ID

 

Grant
Number

 

Grant
Date

 

Option
Price

 

Options
Outstanding
At IPO

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

Busby, Robert J

 

65229

 

00001656

 

11/12/1998

 

$25.87

 

100

Busby, Robert J

 

65229

 

00001656

 

11/12/1998

 

$25.87

 

900

Busby, Robert J

 

65229

 

00001656

 

11/12/1998

 

$25.87

 

1,000

Busby, Robert J

 

65229

 

00001828

 

6/7/1999

 

$19.50

 

1,000

Bustamente, John E

 

70890

 

00003345

 

7/1/2000

 

$47.37

 

800

Buzarde, Vern D.

 

68214

 

00000168

 

11/12/1998

 

$25.87

 

4,500

Buzarde, Vern D.

 

68214

 

00001829

 

6/7/1999

 

$19.50

 

2,750

Buzarde, Vern D.

 

68214

 

00003235

 

4/1/2000

 

$41.25

 

3,000

Byrd, George Lee

 

66473

 

00002429

 

1/1/2000

 

$25.31

 

480

Callais, Timothy John

 

13029

 

00003865

 

7/14/2001

 

$38.07

 

4,140

Callais, Timothy John

 

13029

 

00004201

 

7/10/2002

 

$28.80

 

4,000

Campbell III, Robert D.

 

63874

 

00003242

 

4/1/2000

 

$41.25

 

3,000

Cannon, Joe

 

60521

 

00001310

 

11/12/1998

 

$25.87

 

4,500

Cantu Jr., Richard

 

70867

 

00003346

 

7/1/2000

 

$47.37

 

1,120

Cantu Jr., Richard

 

70867

 

00005432

 

7/14/2001

 

$38.07

 

3,140

Cantu Jr., Richard

 

70867

 

00005433

 

7/10/2002

 

$28.80

 

3,650

Carr, Terrell L.

 

68272

 

00000180

 

7/17/1995

 

$15.25

 

1,180

Carr, Terrell L.

 

68272

 

00000184

 

11/12/1998

 

$25.87

 

500

Carr, Terrell L.

 

68272

 

00000184

 

11/12/1998

 

$25.87

 

1,000

Carr, Terrell L.

 

68272

 

00000184

 

11/12/1998

 

$25.87

 

1,100

Carr, Terrell L.

 

68272

 

00000184

 

11/12/1998

 

$25.87

 

1,350

Carr, Terrell L.

 

68272

 

00000184

 

11/12/1998

 

$25.87

 

2,800

Carr, Terrell L.

 

68272

 

00001832

 

6/7/1999

 

$19.50

 

10,250

CARTER, CHRIS J

 

10406

 

00001271

 

11/12/1998

 

$25.87

 

134

CARTER, CHRIS J

 

10406

 

00001271

 

11/12/1998

 

$25.87

 

200

CARTER, CHRIS J

 

10406

 

00001833

 

6/7/1999

 

$19.50

 

867

CARTER, CHRIS J

 

10406

 

00002284

 

10/1/1999

 

$26.93

 

1,000

Carvell Jr., Robert B.

 

68286

 

00000194

 

11/12/1998

 

$25.87

 

3,000

Carvell Jr., Robert B.

 

68286

 

00001834

 

6/7/1999

 

$19.50

 

2,167

Carvell Jr., Robert B.

 

68286

 

00001834

 

6/7/1999

 

$19.50

 

2,500

CHATTERJEE, P.C.

 

75917

 

00001090

 

4/7/1999

 

$14.06

 

14,333

CHATTERJEE, P.C.

 

75917

 

00001091

 

5/19/1999

 

$20.13

 

5,666

CHAVKIN, ARNOLD L, R&B Falcon Corp Director

 

76195

 

00001106

 

2/7/1995

 

$12.50

 

400

CHAVKIN, ARNOLD L, R&B Falcon Corp Director

 

76195

 

00001106

 

2/7/1995

 

$12.50

 

8,450

CHAVKIN, ARNOLD L, R&B Falcon Corp Director

 

76195

 

00001107

 

4/7/1999

 

$14.06

 

10,350

CHAVKIN, ARNOLD L, R&B Falcon Corp Director

 

76195

 

00001107

 

4/7/1999

 

$14.06

 

11,150

CHAVKIN, ARNOLD L, R&B Falcon Corp Director

 

76195

 

00001109

 

5/19/1999

 

$20.13

 

150

CHAVKIN, ARNOLD L, R&B Falcon Corp Director

 

76195

 

00001109

 

5/19/1999

 

$20.13

 

8,350

CHAVKIN, ARNOLD L, R&B Falcon Corp Director

 

76195

 

00002412

 

1/28/2000

 

$25.31

 

2,750

CHERAMIE, RAYMOND J

 

69575

 

00001835

 

6/7/1999

 

$19.50

 

100

CHERAMIE, RAYMOND J

 

69575

 

00001835

 

6/7/1999

 

$19.50

 

900

Chiasson Jr., Chester Joseph

 

70835

 

00002231

 

5/13/1998

 

$59.42

 

2,550

Chiasson Jr., Chester Joseph

 

70835

 

00003329

 

7/1/2000

 

$47.37

 

6,000

Chiasson Jr., Chester Joseph

 

70835

 

00003822

 

7/14/2001

 

$38.07

 

3,140

Chiasson Jr., Chester Joseph

 

70835

 

00004232

 

7/10/2002

 

$28.80

 

3,650

Chittleborough, Paul James

 

71714

 

00003290

 

7/1/2000

 

$47.37

 

3,000

Christian, John

 

71293

 

00002252

 

10/30/1997

 

$81.78

 

1,275

Christian, John

 

71293

 

00002253

 

5/13/1998

 

$59.42

 

4,250

Christian, John

 

71293

 

00003284

 

7/1/2000

 

$47.37

 

3,000

Clark, George Clinton

 

68372

 

00001837

 

6/7/1999

 

$19.50

 

4,020

Clarke, Thomas Norman

 

65723

 

00001735

 

11/12/1998

 

$25.87

 

3,500

Clarke, Thomas Norman

 

65723

 

00001839

 

6/7/1999

 

$19.50

 

2,250

Cloessner, Michael

 

70836

 

00003330

 

7/1/2000

 

$47.37

 

1,000

-37-

--------------------------------------------------------------------------------

Name

 

ID

 

Grant
Number

 

Grant
Date

 

Option
Price

 

Options
Outstanding
At IPO

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

Cloessner, Michael

 

70836

 

00003330

 

7/1/2000

 

$47.37

 

6,500

Cloessner, Michael

 

70836

 

00005434

 

7/14/2001

 

$38.07

 

1,540

Cloessner, Michael

 

70836

 

00005434

 

7/14/2001

 

$38.07

 

1,600

Cloessner, Michael

 

70836

 

00005435

 

7/10/2002

 

$28.80

 

3,650

Cobb, Joan M.

 

68234

 

00003240

 

4/1/2000

 

$41.25

 

3,000

Coffman, Guy M.

 

68413

 

00000245

 

11/12/1998

 

$25.87

 

200

Coffman, Guy M.

 

68413

 

00000245

 

11/12/1998

 

$25.87

 

467

Coffman, Guy M.

 

68413

 

00001841

 

6/7/1999

 

$19.50

 

267

Coffman, Guy M.

 

68413

 

00001841

 

6/7/1999

 

$19.50

 

600

Coker, Ford

 

69748

 

00001842

 

6/7/1999

 

$19.50

 

4,500

Coker, Ford

 

69748

 

00002294

 

10/1/1999

 

$26.93

 

3,000

Cole III, Carl Henry

 

68414

 

00002475

 

1/1/2000

 

$25.31

 

3,000

Collett, Stephen G.

 

65181

 

00002101

 

7/15/1999

 

$21.06

 

480

Cook, William H.

 

62466

 

00001843

 

7/15/1999

 

$19.50

 

7,000

Cook, William H.

 

62466

 

00003670

 

7/14/2001

 

$38.07

 

3,640

Cook, William H.

 

62466

 

00004202

 

7/10/2002

 

$28.80

 

3,550

Coon Sr., Gerald M.

 

12783

 

00001342

 

11/12/1998

 

$25.87

 

2,334

Cordeiro, Louis F.

 

68470

 

00002477

 

1/1/2000

 

$25.31

 

3,000

Corley, Jeffery Scott

 

60747

 

00001317

 

11/12/1998

 

$25.87

 

4,500

Cormier, Darrell

 

69761

 

00002261

 

5/13/1998

 

$59.42

 

2,550

Cormier, Darrell

 

69761

 

00001846

 

6/7/1999

 

$19.50

 

7,000

Cormier, Darrell

 

69761

 

00003689

 

7/14/2001

 

$38.07

 

4,140

Cormier, Darrell

 

69761

 

00004204

 

7/10/2002

 

$28.80

 

3,350

Craven, Ian

 

71898

 

00003276

 

7/1/2000

 

$47.37

 

300

Craven, Ian

 

71898

 

00003276

 

7/1/2000

 

$47.37

 

400

Craven, Ian

 

71898

 

00003276

 

7/1/2000

 

$47.37

 

1,000

Craven, Ian

 

71898

 

00003276

 

7/1/2000

 

$47.37

 

1,300

Cressionie, Sterry James

 

70579

 

00001293

 

11/12/1998

 

$25.87

 

1,000

Cressionie, Sterry James

 

70579

 

00001293

 

11/12/1998

 

$25.87

 

1,000

Crisp, Joseph L.

 

62467

 

00001847

 

6/7/1999

 

$19.50

 

200

Crisp, Joseph L.

 

62467

 

00001847

 

6/7/1999

 

$19.50

 

8,300

Crisp, Joseph L.

 

62467

 

00003669

 

7/14/2001

 

$38.07

 

7,140

Crisp, Joseph L.

 

62467

 

00004312

 

7/10/2002

 

$28.80

 

4,500

Crochet, Patrick

 

67311

 

00001241

 

11/12/1998

 

$25.87

 

1,000

Crochet, Patrick

 

67311

 

00001848

 

6/7/1999

 

$19.50

 

1,300

Curry, Steven

 

65455

 

00003322

 

7/1/2000

 

$47.37

 

480

D’angelo, Robert A.

 

68512

 

00001850

 

6/7/1999

 

$19.50

 

2,000

Dauterive, Craig J.

 

62018

 

00001372

 

11/12/1998

 

$25.87

 

1,200

Dauterive, Craig J.

 

62018

 

00001372

 

11/12/1998

 

$25.87

 

1,300

Dauterive, Craig J.

 

62018

 

00001372

 

11/12/1998

 

$25.87

 

4,250

Dauterive, Craig J.

 

62018

 

00001852

 

6/7/1999

 

$19.50

 

10,250

Dauterive, Craig J.

 

62018

 

00003680

 

7/14/2001

 

$38.07

 

7,640

Dauterive, Craig J.

 

62018

 

00004206

 

7/10/2002

 

$28.80

 

4,500

Dauzat Sr., Michael W.

 

66367

 

00002105

 

7/15/1999

 

$21.06

 

1,120

David, Bradley N.

 

62468

 

00001854

 

6/7/1999

 

$19.50

 

1,667

David, Bradley N.

 

62468

 

00001854

 

6/7/1999

 

$19.50

 

2,833

David, Bradley N.

 

62468

 

00003668

 

7/14/2001

 

$38.07

 

4,640

David, Bradley N.

 

62468

 

00004207

 

7/10/2002

 

$28.80

 

2,667

David, Bradley N.

 

62468

 

00006246

 

7/10/2002

 

$28.80

 

1,333

Davidson, Richard L.

 

68505

 

00001856

 

6/7/1999

 

$19.50

 

200

Davidson, Richard L.

 

68505

 

00001856

 

6/7/1999

 

$19.50

 

200

Davidson, Richard L.

 

68505

 

00001856

 

6/7/1999

 

$19.50

 

300

Davidson, Richard L.

 

68505

 

00001856

 

6/7/1999

 

$19.50

 

300

-38-

--------------------------------------------------------------------------------

Name

 

ID

 

Grant
Number

 

Grant
Date

 

Option
Price

 

Options
Outstanding
At IPO

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

Davidson, Richard L.

 

68505

 

00001856

 

6/7/1999

 

$19.50

 

500

Davidson, Richard L.

 

68505

 

00001856

 

6/7/1999

 

$19.50

 

500

Davidson, Richard L.

 

68505

 

00001856

 

6/7/1999

 

$19.50

 

500

Davidson, Richard L.

 

68505

 

00001856

 

6/7/1999

 

$19.50

 

500

Davidson, Richard L.

 

68505

 

00001856

 

6/7/1999

 

$19.50

 

1,000

Davis, Ed O

 

70837

 

00002178

 

12/1/1998

 

$18.25

 

1,500

Dawood, Sibtain M.

 

68511

 

00000297

 

11/12/1998

 

$25.87

 

2,000

Dawood, Sibtain M.

 

68511

 

00001857

 

6/7/1999

 

$19.50

 

1,000

De Kreek, Frans Johan

 

65193

 

00003224

 

4/1/2000

 

$41.25

 

159

Dearman, Robert Talsie

 

70898

 

00003348

 

7/1/2000

 

$47.37

 

480

Dechiro, Ronald

 

70827

 

00002267

 

5/13/1998

 

$59.42

 

1,700

Dechiro, Ronald

 

70827

 

00002179

 

12/1/1998

 

$18.25

 

350

Dechiro, Ronald

 

70827

 

00002179

 

12/1/1998

 

$18.25

 

400

Dement, John A.

 

71285

 

00002282

 

10/1/1999

 

$26.93

 

200

Dement, John A.

 

71285

 

00002282

 

10/1/1999

 

$26.93

 

400

Dement, John A.

 

71285

 

00002282

 

10/1/1999

 

$26.93

 

500

Dement, John A.

 

71285

 

00002282

 

10/1/1999

 

$26.93

 

500

Dement, John A.

 

71285

 

00002282

 

10/1/1999

 

$26.93

 

700

Dement, John A.

 

71285

 

00002282

 

10/1/1999

 

$26.93

 

1,000

Dement, John A.

 

71285

 

00002282

 

10/1/1999

 

$26.93

 

1,000

Dement, John A.

 

71285

 

00002282

 

10/1/1999

 

$26.93

 

1,000

Dement, John A.

 

71285

 

00002282

 

10/1/1999

 

$26.93

 

1,000

Dement, John A.

 

71285

 

00002282

 

10/1/1999

 

$26.93

 

1,000

Dement, John A.

 

71285

 

00002282

 

10/1/1999

 

$26.93

 

1,000

Dement, John A.

 

71285

 

00002282

 

10/1/1999

 

$26.93

 

1,000

Dement, John A.

 

71285

 

00002282

 

10/1/1999

 

$26.93

 

1,000

Dement, John A.

 

71285

 

00002282

 

10/1/1999

 

$26.93

 

1,000

Dement, John A.

 

71285

 

00002282

 

10/1/1999

 

$26.93

 

1,000

Dement, John A.

 

71285

 

00002282

 

10/1/1999

 

$26.93

 

1,000

Dement, John A.

 

71285

 

00002282

 

10/1/1999

 

$26.93

 

1,000

Dement, John A.

 

71285

 

00002282

 

10/1/1999

 

$26.93

 

1,100

Dement, John A.

 

71285

 

00002282

 

10/1/1999

 

$26.93

 

2,000

Dement, John A.

 

71285

 

00002282

 

10/1/1999

 

$26.93

 

2,600

Desomeaux, Eddie J.

 

62469

 

00001863

 

6/7/1999

 

$19.50

 

5,000

Desomeaux, Eddie J.

 

62469

 

00003667

 

7/14/2001

 

$38.07

 

4,640

Desomeaux, Eddie J.

 

62469

 

00004209

 

7/10/2002

 

$28.80

 

3,350

Detiveaux, Leroy J.

 

62139

 

00001403

 

11/12/1998

 

$25.87

 

1,000

Detiveaux, Leroy J.

 

62139

 

00001864

 

6/7/1999

 

$19.50

 

1,300

Devadass, Giftson Abraham

 

65188

 

00001643

 

11/12/1998

 

$25.87

 

900

Dickson, John R.

 

64927

 

00003323

 

7/1/2000

 

$47.37

 

1,120

Dilmore, Louis E.

 

61929

 

00001358

 

11/12/1998

 

$25.87

 

400

Dilmore, Louis E.

 

61929

 

00001358

 

11/12/1998

 

$25.87

 

700

Dilmore, Louis E.

 

61929

 

00001358

 

11/12/1998

 

$25.87

 

1,900

Dilmore, Louis E.

 

61929

 

00001866

 

6/7/1999

 

$19.50

 

2,667

Dilmore, Louis E.

 

61929

 

00003681

 

7/14/2001

 

$38.07

 

200

Dilmore, Louis E.

 

61929

 

00003681

 

7/14/2001

 

$38.07

 

640

Dilmore, Louis E.

 

61929

 

00003681

 

7/14/2001

 

$38.07

 

1,300

Dilmore, Louis E.

 

61929

 

00003681

 

7/14/2001

 

$38.07

 

1,500

Dilmore, Louis E.

 

61929

 

00004438

 

7/10/2002

 

$28.80

 

100

Dilmore, Louis E.

 

61929

 

00004438

 

7/10/2002

 

$28.80

 

100

Dilmore, Louis E.

 

61929

 

00004438

 

7/10/2002

 

$28.80

 

400

Dilmore, Louis E.

 

61929

 

00004438

 

7/10/2002

 

$28.80

 

540

Dilmore, Louis E.

 

61929

 

00004438

 

7/10/2002

 

$28.80

 

1,360

-39-

--------------------------------------------------------------------------------

Name

 

ID

 

Grant
Number

 

Grant
Date

 

Option
Price

 

Options
Outstanding
At IPO

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

DONABEDIAN, CHARLES A, R&B Corp Director

 

76056

 

00001094

 

4/7/1999

 

$14.06

 

500

DONABEDIAN, CHARLES A, R&B Corp Director

 

76056

 

00001095

 

5/19/1999

 

$20.13

 

500

DONABEDIAN, CHARLES A, R&B Corp Director

 

76056

 

00003468

 

2/1/2001

 

$0.00

 

0

Doughty, Robert W.

 

68529

 

00000324

 

11/12/1998

 

$25.87

 

2,000

Doughty, Robert W.

 

68529

 

00001870

 

6/7/1999

 

$19.50

 

1,500

Douglas, John C

 

72370

 

00003316

 

7/1/2000

 

$47.37

 

1,120

Downey, Gene R.

 

68532

 

00000333

 

11/12/1998

 

$25.87

 

3,500

Downey, Gene R.

 

68532

 

00001871

 

6/7/1999

 

$19.50

 

2,250

Dugan, Herschel D.

 

62746

 

00001872

 

6/7/1999

 

$19.50

 

4,500

Duncan, James Otho

 

12766

 

00003435

 

1/1/2001

 

$46.87

 

800

Dupre, Everard P.

 

62147

 

00001406

 

11/12/1998

 

$25.87

 

4,500

Dupre, Everard P.

 

62147

 

00001873

 

6/7/1999

 

$19.50

 

100

Dupre, Everard P.

 

62147

 

00001873

 

6/7/1999

 

$19.50

 

1,290

Dupre, Everard P.

 

62147

 

00001873

 

6/7/1999

 

$19.50

 

2,610

Dupre, Everard P.

 

62147

 

00005444

 

7/14/2001

 

$38.07

 

4,640

Dupre, Everard P.

 

62147

 

00005445

 

7/10/2002

 

$28.80

 

3,750

Elinbergsson, Ragnar S.

 

65060

 

00002109

 

7/15/1999

 

$21.06

 

1,120

Espinoza, George Armando

 

70838

 

00003331

 

7/1/2000

 

$47.37

 

7,500

Espinoza, George Armando

 

70838

 

00003820

 

7/14/2001

 

$38.07

 

3,140

Espinoza, George Armando

 

70838

 

00004234

 

7/10/2002

 

$28.80

 

3,650

Esteves, Raimundo

 

Esteves

 

00004235

 

7/10/2002

 

$28.80

 

2,500

Evans, John Kennon

 

60598

 

00003317

 

7/1/2000

 

$47.37

 

320

Every, Anthony John

 

77318

 

00001881

 

6/7/1999

 

$19.50

 

3,000

Fellers, Robert M

 

68559

 

00000374

 

11/12/1998

 

$25.87

 

6,750

Fellers, Robert M

 

68559

 

00001884

 

6/7/1999

 

$19.50

 

5,000

Fellers, Robert M

 

68559

 

00001884

 

6/7/1999

 

$19.50

 

5,000

Fenton, Frank Stephen

 

68560

 

00003213

 

4/1/2000

 

$41.25

 

320

Fowler Jr., Dan E.

 

69807

 

00003258

 

4/1/2000

 

$41.25

 

3,000

Freeman, David M.

 

61954

 

00002435

 

1/1/2000

 

$25.31

 

320

Fruge’, Clinton J.

 

60514

 

00001887

 

6/7/1999

 

$19.50

 

3,500

Fruge’, Clinton J.

 

60514

 

00001887

 

6/7/1999

 

$19.50

 

4,000

Fruge, Robert M.

 

62032

 

00002318

 

10/1/1999

 

$26.93

 

1,120

Fulton, Robert F

 

62689

 

00002506

 

2/16/1995

 

$10.00

 

100

Fulton, Robert F

 

62689

 

00002506

 

2/16/1995

 

$10.00

 

400

Fulton, Robert F

 

62689

 

00002506

 

2/16/1995

 

$10.00

 

500

Fulton, Robert F

 

62689

 

00002506

 

2/16/1995

 

$10.00

 

2,000

Fulton, Robert F

 

62689

 

00002506

 

2/16/1995

 

$10.00

 

2,000

Fulton, Robert F

 

62689

 

00002506

 

2/16/1995

 

$10.00

 

5,000

Fulton, Robert F

 

62689

 

00002506

 

2/16/1995

 

$10.00

 

5,000

Fulton, Robert F

 

62689

 

00002506

 

2/16/1995

 

$10.00

 

5,000

Fulton, Robert F

 

62689

 

00002506

 

2/16/1995

 

$10.00

 

25,000

Fulton, Robert F

 

62689

 

00001463

 

2/11/1999

 

$12.50

 

27,757

Fulton, Robert F

 

62689

 

00001464

 

4/7/1999

 

$14.06

 

103,500

Fulton, Robert F

 

62689

 

00001465

 

5/19/1999

 

$20.12

 

9,000

Fusilier, Herbert L.

 

70210

 

00002112

 

7/15/1999

 

$21.06

 

1,120

Gauche, Kathy A.

 

62118

 

00001397

 

11/12/1998

 

$25.87

 

1,000

Gentry, Jason Scott

 

70907

 

00003315

 

7/1/2000

 

$47.37

 

480

Gilbreath, Stephen A.

 

66521

 

00001755

 

11/12/1998

 

$25.87

 

3,500

Gildersleeve, Bobby L.

 

62471

 

00002324

 

6/7/1999

 

$19.50

 

3,000

Giroir, Gerald J.

 

62191

 

00001417

 

11/12/1998

 

$25.87

 

300

Giroir, Gerald J.

 

62191

 

00001417

 

11/12/1998

 

$25.87

 

700

Giroir, Gerald J.

 

62191

 

00001894

 

6/7/1999

 

$19.50

 

0

Giroir, Gerald J.

 

62191

 

00001894

 

6/7/1999

 

$19.50

 

0

-40-

--------------------------------------------------------------------------------

Name

 

ID

 

Grant
Number

 

Grant
Date

 

Option
Price

 

Options
Outstanding
At IPO

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

GIROIR, KIM A

 

66363

 

00001742

 

11/12/1998

 

$25.87

 

1,000

Glazener, Joan M.

 

69120

 

00000858

 

11/12/1998

 

$25.87

 

3,500

Glen, Alexander Hunter

 

70960

 

00002437

 

1/1/2000

 

$25.31

 

480

Goetz, William D.

 

68637

 

00000417

 

11/12/1998

 

$25.87

 

6,750

Goetz, William D.

 

68637

 

00001895

 

6/7/1999

 

$19.50

 

14,750

Goldie, Douglas Ross

 

77189

 

00003292

 

7/1/2000

 

$47.37

 

1,500

Greenlee, Kirk W.

 

64315

 

00003288

 

7/1/2000

 

$47.37

 

3,000

GREGORCYK, WILLIAM A

 

71154

 

00002325

 

12/1/1998

 

$18.25

 

500

Griffen, Ralph Wayne

 

76297

 

00003304

 

7/1/2000

 

$47.37

 

1,440

Grimes, Glenn Wayman

 

68689

 

00002242

 

5/13/1998

 

$59.42

 

1,700

Grimes, Glenn Wayman

 

68689

 

00002183

 

12/1/1998

 

$18.25

 

1,000

Gros, Allen J.

 

62157

 

00001900

 

6/7/1999

 

$19.50

 

800

Gros, Allen J.

 

62157

 

00001900

 

6/7/1999

 

$19.50

 

2,000

Gros, Allen J.

 

62157

 

00001900

 

6/7/1999

 

$19.50

 

2,200

Gros, Allen J.

 

62157

 

00001900

 

6/7/1999

 

$19.50

 

5,500

Gros, Allen J.

 

62157

 

00003673

 

7/14/2001

 

$38.07

 

5,640

Gros, Allen J.

 

62157

 

00004213

 

7/10/2002

 

$28.80

 

3,750

Guidry, Norman

 

62256

 

00001901

 

6/7/1999

 

$19.50

 

600

Guidry, Norman

 

62256

 

00001901

 

6/7/1999

 

$19.50

 

1,100

Guidry, Norman

 

62256

 

00001901

 

6/7/1999

 

$19.50

 

1,200

Guidry, Norman

 

62256

 

00001901

 

6/7/1999

 

$19.50

 

1,600

Guthrie, Edward

 

71155

 

00002344

 

5/21/1997

 

$38.54

 

8,500

Guthrie, Edward

 

71155

 

00002345

 

5/13/1998

 

$59.42

 

21,250

Guthrie, Edward

 

71155

 

00002321

 

12/1/1998

 

$18.25

 

200

Guthrie, Edward

 

71155

 

00002321

 

12/1/1998

 

$18.25

 

4,000

Guthrie, Edward

 

71155

 

00002321

 

12/1/1998

 

$18.25

 

4,000

Guthrie, Edward

 

71155

 

00002321

 

12/1/1998

 

$18.25

 

4,000

Guthrie, Edward

 

71155

 

00002321

 

12/1/1998

 

$18.25

 

4,000

Guthrie, Edward

 

71155

 

00002321

 

12/1/1998

 

$18.25

 

4,000

Guthrie, Edward

 

71155

 

00002321

 

12/1/1998

 

$18.25

 

4,000

Guthrie, Edward

 

71155

 

00002321

 

12/1/1998

 

$18.25

 

4,800

Guthrie, Edward

 

71155

 

00002321

 

12/1/1998

 

$18.25

 

5,500

Hale, Terry R.

 

69855

 

00002114

 

7/15/1999

 

$21.06

 

800

Hall, Robert

 

65265

 

00001668

 

11/12/1998

 

$25.87

 

3,500

Hamilton, Gordon P.

 

60337

 

00002312

 

10/1/1999

 

$26.93

 

480

Hammond, Michael Alexander

 

71730

 

00002314

 

10/1/1999

 

$26.93

 

480

Hannegan Sr., Charles

 

71158

 

00002326

 

12/1/1998

 

$18.25

 

100

Hannegan Sr., Charles

 

71158

 

00002326

 

12/1/1998

 

$18.25

 

1,900

Hanvy, Harold Ray

 

68623

 

00002116

 

7/15/1999

 

$21.06

 

480

Harris, Roger John

 

65298

 

00002117

 

7/15/1999

 

$21.06

 

480

Harrison, Preston J.

 

60507

 

00002118

 

7/15/1999

 

$21.06

 

800

Harrison, Richard A

 

70801

 

00002274

 

5/13/1998

 

$59.42

 

1,700

Harter, Bobby L.

 

69864

 

00002119

 

7/15/1999

 

$21.06

 

1,120

Hartfield, Richard

 

69865

 

00002120

 

7/15/1999

 

$21.06

 

747

Hedley, Darren Raymond

 

60279

 

00002122

 

7/15/1999

 

$21.06

 

480

Heines, Blair

 

68752

 

00000465

 

11/12/1998

 

$25.87

 

2,000

Heines, Blair

 

68752

 

00001906

 

6/7/1999

 

$19.50

 

4,000

Heines, Blair

 

68752

 

00003372

 

10/1/2000

 

$55.93

 

3,000

Hibbitts, Kenneth Wayne

 

13793

 

00003349

 

7/1/2000

 

$47.37

 

1,120

Hill, William D.

 

68762

 

00003766

 

7/14/2001

 

$38.07

 

5,140

Hillin, Wayne K.

 

68763

 

00000485

 

2/11/1999

 

$12.50

 

300

Hillin, Wayne K.

 

68763

 

00000485

 

2/11/1999

 

$12.50

 

400

Hillin, Wayne K.

 

68763

 

00000485

 

2/11/1999

 

$12.50

 

400

-41-

--------------------------------------------------------------------------------

Name

 

ID

 

Grant
Number

 

Grant
Date

 

Option
Price

 

Options
Outstanding
At IPO

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

Hillin, Wayne K.

 

68763

 

00000485

 

2/11/1999

 

$12.50

 

800

Hillin, Wayne K.

 

68763

 

00000485

 

2/11/1999

 

$12.50

 

900

Hillin, Wayne K.

 

68763

 

00000485

 

2/11/1999

 

$12.50

 

1,500

Hillin, Wayne K.

 

68763

 

00000485

 

2/11/1999

 

$12.50

 

1,949

Hillin, Wayne K.

 

68763

 

00000485

 

2/11/1999

 

$12.50

 

3,500

Hillin, Wayne K.

 

68763

 

00000485

 

2/11/1999

 

$12.50

 

4,100

Hillin, Wayne K.

 

68763

 

00000485

 

2/11/1999

 

$12.50

 

8,900

Hillin, Wayne K.

 

68763

 

00000486

 

4/7/1999

 

$14.06

 

51

Hillin, Wayne K.

 

68763

 

00000486

 

4/7/1999

 

$14.06

 

5,169

Hillin, Wayne K.

 

68763

 

00000486

 

4/7/1999

 

$14.06

 

25,000

Hillin, Wayne K.

 

68763

 

00000486

 

4/7/1999

 

$14.06

 

25,000

Hillin, Wayne K.

 

68763

 

00000486

 

4/7/1999

 

$14.06

 

40,000

Hillin, Wayne K.

 

68763

 

00000487

 

5/19/1999

 

$20.12

 

8,280

Hillin, Wayne K.

 

68763

 

00002495

 

1/28/2000

 

$25.31

 

18,206

Hillin, Wayne K.

 

68763

 

00002504

 

1/28/2000

 

$25.31

 

37,500

Holleman, Hal L.

 

68767

 

00000496

 

11/12/1998

 

$25.87

 

667

Holleman, Hal L.

 

68767

 

00001911

 

6/7/1999

 

$19.50

 

867

Holmes, Robert Timothy

 

68769

 

00001912

 

6/7/1999

 

$19.50

 

1,300

Holmes, Robert Timothy

 

68769

 

00003428

 

1/1/2001

 

$46.87

 

1,500

Honey, James H.

 

62474

 

00001456

 

11/12/1998

 

$25.87

 

100

Honey, James H.

 

62474

 

00001456

 

11/12/1998

 

$25.87

 

200

Honey, James H.

 

62474

 

00001456

 

11/12/1998

 

$25.87

 

700

Honey, James H.

 

62474

 

00001456

 

11/12/1998

 

$25.87

 

2,500

Honey, James H.

 

62474

 

00001913

 

6/7/1999

 

$19.50

 

2,250

Horton, George

 

71710

 

00002322

 

12/1/1998

 

$18.25

 

500

Humphrey, Jerry

 

13345

 

00003768

 

7/14/2001

 

$38.07

 

7,140

Humphrey, Jerry

 

13345

 

00004214

 

7/10/2002

 

$28.80

 

4,500

Hunt, Ted Richard

 

64459

 

00003257

 

4/1/2000

 

$41.25

 

3,000

Hunter, William Alexander

 

75764

 

00001078

 

11/12/1998

 

$25.87

 

5,500

Hunter, William Alexander

 

75764

 

00003270

 

7/7/2000

 

$45.00

 

7,500

Huval, Burney P

 

67892

 

00001277

 

11/12/1998

 

$25.87

 

1,000

Huval, Burney P

 

67892

 

00001917

 

6/7/1999

 

$19.50

 

1,300

Huval, Ryan Jude

 

62568

 

00001462

 

11/12/1998

 

$25.87

 

1,000

Huval, Ryan Jude

 

62568

 

00001918

 

6/7/1999

 

$19.50

 

1,300

Huval, Ryan Jude

 

62568

 

00003256

 

4/1/2000

 

$41.25

 

4,500

Imray, Thomas D.

 

65210

 

00002470

 

1/1/2000

 

$25.31

 

300

Imray, Thomas D.

 

65210

 

00002470

 

1/1/2000

 

$25.31

 

400

Imray, Thomas D.

 

65210

 

00002470

 

1/1/2000

 

$25.31

 

1,100

Imray, Thomas D.

 

65210

 

00002470

 

1/1/2000

 

$25.31

 

1,200

Ishee, Charles R.

 

62337

 

00001446

 

11/12/1998

 

$25.87

 

1,000

Ishee, Charles R.

 

62337

 

00001446

 

11/12/1998

 

$25.87

 

1,100

Ishee, Charles R.

 

62337

 

00001446

 

11/12/1998

 

$25.87

 

1,400

Ishee, Charles R.

 

62337

 

00001920

 

6/7/1999

 

$19.50

 

2,250

Ishee, Charles R.

 

62337

 

00003378

 

10/1/2000

 

$55.93

 

4,500

James, Ronald J.

 

68795

 

00002315

 

10/1/1999

 

$26.93

 

480

JENNINGS, JR., JAMES W

 

12978

 

00001325

 

11/12/1998

 

$25.87

 

3,500

Jensen, Kurt S.

 

68799

 

00000511

 

11/12/1998

 

$25.87

 

1,000

Jensen, Kurt S.

 

68799

 

00001922

 

6/7/1999

 

$19.50

 

100

Jensen, Kurt S.

 

68799

 

00001922

 

6/7/1999

 

$19.50

 

1,200

Johnson, Dale B.

 

68801

 

00000513

 

7/17/1995

 

$15.25

 

200

Johnson, Dale B.

 

68801

 

00000518

 

11/12/1998

 

$25.87

 

1,500

Johnson, Dale B.

 

68801

 

00000518

 

11/12/1998

 

$25.87

 

2,000

Johnson, Dale B.

 

68801

 

00001923

 

6/7/1999

 

$19.50

 

2,250

-42-

--------------------------------------------------------------------------------

Name

 

ID

 

Grant
Number

 

Grant
Date

 

Option
Price

 

Options
Outstanding
At IPO

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

Johnson, Glenn M.

 

69908

 

00002126

 

7/15/1999

 

$21.06

 

800

Johnson, Luther Brown

 

69907

 

00002272

 

5/13/1998

 

$59.42

 

850

Johnson, Luther Brown

 

69907

 

00002188

 

12/1/1998

 

$18.25

 

250

Johnson, Luther Brown

 

69907

 

00001924

 

6/7/1999

 

$19.50

 

5,000

Jones, Richard Mark

 

60247

 

00000527

 

11/12/1998

 

$25.87

 

4,500

Jones, Richard Mark

 

60247

 

00001925

 

6/7/1999

 

$19.50

 

4,000

Jones, Richard Mark

 

60247

 

00003375

 

10/1/2000

 

$55.93

 

3,000

Joseph, Stephen

 

72073

 

00003882

 

7/14/2001

 

$38.07

 

3,140

Joseph, Stephen

 

72073

 

00004197

 

7/10/2002

 

$28.80

 

3,250

Keiser, Randall B.

 

61924

 

00001355

 

11/12/1998

 

$25.87

 

1,000

Keiser, Randall B.

 

61924

 

00001930

 

6/7/1999

 

$19.50

 

1,300

Kennedy Jr., John A.

 

68821

 

00000556

 

7/17/1995

 

$15.25

 

1,770

Kennedy Jr., John A.

 

68821

 

00000560

 

11/12/1998

 

$25.87

 

6,750

Kennedy Jr., John A.

 

68821

 

00001931

 

6/7/1999

 

$19.50

 

14,750

Kenyon, Andrew Stuart

 

71731

 

00002316

 

10/1/1999

 

$26.93

 

560

Kenyon, Andrew Stuart

 

71731

 

00002316

 

10/1/1999

 

$26.93

 

560

Kiefer, Rudolf Kurt

 

65497

 

00002307

 

10/1/1999

 

$26.93

 

480

King, Deborah L.

 

68825

 

00000564

 

11/12/1998

 

$25.87

 

1,000

King, Deborah L.

 

68825

 

00001932

 

6/7/1999

 

$19.50

 

480

King, Deborah L.

 

68825

 

00001932

 

6/7/1999

 

$19.50

 

820

Kirkpatrick, Donald

 

68829

 

00000567

 

11/12/1998

 

$25.87

 

800

Kirkpatrick, Donald

 

68829

 

00000567

 

11/12/1998

 

$25.87

 

1,200

Labbe, Michael J.

 

67514

 

00001265

 

11/12/1998

 

$25.87

 

2,000

Labbe, Michael J.

 

67514

 

00001935

 

6/7/1999

 

$19.50

 

1,500

LADNIER, RICHARD O

 

67106

 

00001785

 

11/12/1998

 

$25.87

 

1,000

Langhorne, Charles Phillip

 

19843

 

00000589

 

7/17/1995

 

$15.25

 

300

Langhorne, Charles Phillip

 

19843

 

00000589

 

7/17/1995

 

$15.25

 

3,476

LAQUEUR, MACKO

 

78024

 

00001232

 

4/19/1995

 

$12.50

 

8,850

LAQUEUR, MACKO

 

78024

 

00001233

 

4/7/1999

 

$14.06

 

1,000

LAQUEUR, MACKO

 

78024

 

00001233

 

4/7/1999

 

$14.06

 

1,000

LAQUEUR, MACKO

 

78024

 

00001233

 

4/7/1999

 

$14.06

 

1,500

LAQUEUR, MACKO

 

78024

 

00001233

 

4/7/1999

 

$14.06

 

3,500

LAQUEUR, MACKO

 

78024

 

00001233

 

4/7/1999

 

$14.06

 

4,000

LAQUEUR, MACKO

 

78024

 

00001233

 

4/7/1999

 

$14.06

 

10,500

LAQUEUR, MACKO

 

78024

 

00001235

 

5/19/1999

 

$20.13

 

8,500

LAQUEUR, MACKO

 

78024

 

00002415

 

1/28/2000

 

$25.31

 

2,750

Lasseigne Sr., Barry J

 

67719

 

00001273

 

11/12/1998

 

$25.87

 

1,000

Lasseigne Sr., Barry J

 

67719

 

00001940

 

6/7/1999

 

$19.50

 

1,300

Latour, Raymond A.

 

60562

 

00001941

 

6/7/1999

 

$19.50

 

10,500

Latour, Raymond A.

 

60562

 

00003663

 

7/14/2001

 

$38.07

 

4,140

Latour, Raymond A.

 

60562

 

00004215

 

7/10/2002

 

$28.80

 

3,350

Lawler Jr., Earl R.

 

12276

 

00000598

 

11/12/1998

 

$25.87

 

667

Lawler Jr., Earl R.

 

12276

 

00001943

 

6/7/1999

 

$19.50

 

1,000

Leboeuf, Kevin C.

 

62230

 

00001946

 

6/7/1999

 

$19.50

 

250

Leboeuf, Kevin C.

 

62230

 

00001946

 

6/7/1999

 

$19.50

 

4,750

LEDET, STEVE P

 

67516

 

00002285

 

10/1/1999

 

$26.93

 

2,000

Lee, Kirby A.

 

68633

 

00001948

 

6/7/1999

 

$19.50

 

3,000

Lejeune, Ronnie

 

69947

 

00001950

 

6/7/1999

 

$19.50

 

4,500

Lejeune, Ronnie

 

69947

 

00002296

 

10/1/1999

 

$26.93

 

3,000

Levick, Edward

 

17811

 

00003211

 

4/1/2000

 

$41.25

 

1,120

Lewis, Edgar E

 

64016

 

00001506

 

11/12/1998

 

$25.87

 

100

Lewis, Edgar E

 

64016

 

00001506

 

11/12/1998

 

$25.87

 

200

Lewis, Edgar E

 

64016

 

00001506

 

11/12/1998

 

$25.87

 

200

-43-

--------------------------------------------------------------------------------

Name

 

ID

 

Grant
Number

 

Grant
Date

 

Option
Price

 

Options
Outstanding
At IPO

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

Lewis, Edgar E

 

64016

 

00001506

 

11/12/1998

 

$25.87

 

1,500

Lewis, Edgar E

 

64016

 

00001506

 

11/12/1998

 

$25.87

 

1,500

Littlejohn, Malcolm H.

 

64976

 

00001587

 

11/12/1998

 

$25.87

 

4,500

Lottinger, Britt S.

 

62742

 

00001471

 

11/12/1998

 

$25.87

 

1,000

Lottinger, Britt S.

 

62742

 

00001955

 

6/7/1999

 

$19.50

 

500

Lottinger, Britt S.

 

62742

 

00001955

 

6/7/1999

 

$19.50

 

1,300

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000616

 

12/5/1995

 

$23.51

 

1,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000616

 

12/5/1995

 

$23.51

 

2,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000616

 

12/5/1995

 

$23.51

 

2,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000616

 

12/5/1995

 

$23.51

 

2,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000616

 

12/5/1995

 

$23.51

 

2,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000616

 

12/5/1995

 

$23.51

 

2,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000616

 

12/5/1995

 

$23.51

 

2,500

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000616

 

12/5/1995

 

$23.51

 

3,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000616

 

12/5/1995

 

$23.51

 

5,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000616

 

12/5/1995

 

$23.51

 

5,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000616

 

12/5/1995

 

$23.51

 

5,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000616

 

12/5/1995

 

$23.51

 

5,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000616

 

12/5/1995

 

$23.51

 

5,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000616

 

12/5/1995

 

$23.51

 

8,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000616

 

12/5/1995

 

$23.51

 

9,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000616

 

12/5/1995

 

$23.51

 

10,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000616

 

12/5/1995

 

$23.51

 

10,900

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000616

 

12/5/1995

 

$23.51

 

13,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000616

 

12/5/1995

 

$23.51

 

18,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000616

 

12/5/1995

 

$23.51

 

21,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000616

 

12/5/1995

 

$23.51

 

22,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000616

 

12/5/1995

 

$23.51

 

34,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000616

 

12/5/1995

 

$23.51

 

50,400

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000616

 

12/5/1995

 

$23.51

 

116,200

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000621

 

12/5/1995

 

$23.51

 

1,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000621

 

12/5/1995

 

$23.51

 

2,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000621

 

12/5/1995

 

$23.51

 

2,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000621

 

12/5/1995

 

$23.51

 

4,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000621

 

12/5/1995

 

$23.51

 

8,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000621

 

12/5/1995

 

$23.51

 

33,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000621

 

12/5/1995

 

$23.51

 

35,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000621

 

12/5/1995

 

$23.51

 

92,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000620

 

2/11/1999

 

$12.50

 

92,061

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000619

 

4/7/1999

 

$14.06

 

460,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00000622

 

5/19/1999

 

$20.12

 

40,000

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00002489

 

1/28/2000

 

$25.31

 

67,127

Loyd Jr., Paul B., CEO R&B Corp

 

68889

 

00002498

 

1/28/2000

 

$25.31

 

212,500

Luedtke, John F.

 

68891

 

00000627

 

11/12/1998

 

$25.87

 

334

Luedtke, John F.

 

68891

 

00000627

 

11/12/1998

 

$25.87

 

400

Luedtke, John F.

 

68891

 

00000627

 

11/12/1998

 

$25.87

 

400

Luedtke, John F.

 

68891

 

00000627

 

11/12/1998

 

$25.87

 

1,200

Luedtke, John F.

 

68891

 

00001957

 

6/7/1999

 

$19.50

 

500

Luedtke, John F.

 

68891

 

00001957

 

6/7/1999

 

$19.50

 

500

Luedtke, John F.

 

68891

 

00001957

 

6/7/1999

 

$19.50

 

500

Luedtke, John F.

 

68891

 

00001957

 

6/7/1999

 

$19.50

 

500

Luedtke, John F.

 

68891

 

00001957

 

6/7/1999

 

$19.50

 

500

Luedtke, John F.

 

68891

 

00001957

 

6/7/1999

 

$19.50

 

500

-44-

--------------------------------------------------------------------------------

Name

 

ID

 

Grant
Number

 

Grant
Date

 

Option
Price

 

Options
Outstanding
At IPO

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

Luedtke, John F.

 

68891

 

00001957

 

6/7/1999

 

$19.50

 

500

Luedtke, John F.

 

68891

 

00001957

 

6/7/1999

 

$19.50

 

500

Lunt, John Martin

 

76950

 

00003294

 

7/1/2000

 

$47.37

 

480

Lutz, Kenneth R.

 

68893

 

00001959

 

6/7/1999

 

$19.50

 

1,300

MacDonald, Ronald David

 

65138

 

00003223

 

4/1/2000

 

$41.25

 

480

MacInnes, Ronal A.

 

68904

 

00000639

 

11/12/1998

 

$25.87

 

834

MacInnes, Ronal A.

 

68904

 

00002462

 

1/1/2000

 

$25.31

 

1,500

Manceaux, Ted P.

 

70212

 

00002131

 

7/15/1999

 

$21.06

 

200

Manceaux, Ted P.

 

70212

 

00002131

 

7/15/1999

 

$21.06

 

350

Manceaux, Ted P.

 

70212

 

00003436

 

1/1/2001

 

$46.87

 

320

Mansfield, John William

 

73954

 

00003454

 

1/1/2001

 

$46.87

 

180

Mareno jr., Roy H

 

68109

 

00001964

 

6/7/1999

 

$19.50

 

200

Mareno jr., Roy H

 

68109

 

00001964

 

6/7/1999

 

$19.50

 

750

Mareno jr., Roy H

 

68109

 

00001964

 

6/7/1999

 

$19.50

 

1,200

Mareno jr., Roy H

 

68109

 

00001964

 

6/7/1999

 

$19.50

 

1,350

Martin, Thomas G.

 

66539

 

00002133

 

7/15/1999

 

$21.06

 

1,120

Massey, Warren A.

 

69976

 

00002134

 

7/15/1999

 

$21.06

 

200

Massey, Warren A.

 

69976

 

00002134

 

7/15/1999

 

$21.06

 

920

Matherne, Barry

 

67517

 

00001267

 

11/12/1998

 

$25.87

 

1,334

Matherne, Barry

 

67517

 

00003252

 

4/1/2000

 

$41.25

 

6,000

McCall, Charles

 

71304

 

00002189

 

12/1/1998

 

$18.25

 

25,000

McCartney, Neil

 

70852

 

00002268

 

5/13/1998

 

$59.42

 

1,700

McCartney, Neil

 

70852

 

00003333

 

7/1/2000

 

$47.37

 

3,500

McCartney, Neil

 

70852

 

00005450

 

7/14/2001

 

$38.07

 

300

McCartney, Neil

 

70852

 

00005450

 

7/14/2001

 

$38.07

 

600

McCartney, Neil

 

70852

 

00005450

 

7/14/2001

 

$38.07

 

2,640

McCartney, Neil

 

70852

 

00005450

 

7/14/2001

 

$38.07

 

3,100

McCartney, Neil

 

70852

 

00005451

 

7/10/2002

 

$28.80

 

5,300

McCarty, Thomas B.

 

19773

 

00001494

 

11/12/1998

 

$25.87

 

100

McCarty, Thomas B.

 

19773

 

00001494

 

11/12/1998

 

$25.87

 

200

McCarty, Thomas B.

 

19773

 

00001494

 

11/12/1998

 

$25.87

 

4,200

McCarty, Thomas B.

 

19773

 

00001968

 

6/7/1999

 

$19.50

 

4,000

McClanahan, John M.

 

68898

 

00000634

 

11/12/1998

 

$25.87

 

667

McClanahan, John M.

 

68898

 

00001970

 

6/7/1999

 

$19.50

 

867

McCoy, Richard

 

70829

 

00002277

 

5/13/1998

 

$59.42

 

1,700

McCoy, Richard

 

70829

 

00002191

 

12/1/1998

 

$18.25

 

1,000

McDaniel, Michael Lee

 

70221

 

00003318

 

7/1/2000

 

$47.37

 

320

McKnight, Jack Patrick

 

70901

 

00003350

 

7/1/2000

 

$47.37

 

1,120

McNally, Orville Kenneth

 

14010

 

00003407

 

10/1/2000

 

$55.93

 

232

McSpadden, Robert

 

70830

 

00002257

 

5/13/1998

 

$59.42

 

2,550

McSpadden, Robert

 

70830

 

00002192

 

12/1/1998

 

$18.25

 

1,500

McSweeney, John P

 

62188

 

00001977

 

6/7/1999

 

$19.50

 

500

McSweeney, John P

 

62188

 

00001977

 

6/7/1999

 

$19.50

 

500

McSweeney, John P

 

62188

 

00001977

 

6/7/1999

 

$19.50

 

500

McSweeney, John P

 

62188

 

00001977

 

6/7/1999

 

$19.50

 

2,500

McWilliams, Clarence Poe

 

70899

 

00003351

 

7/1/2000

 

$47.37

 

480

Meisetschlaeger, Rodney W.

 

62476

 

00002512

 

1/26/1994

 

$10.00

 

0

Meisetschlaeger, Rodney W.

 

62476

 

00001458

 

11/12/1998

 

$25.87

 

6,750

Meisetschlaeger, Rodney W.

 

62476

 

00001979

 

6/7/1999

 

$19.50

 

14,750

Melancon, Richard J.

 

62159

 

00001980

 

6/7/1999

 

$19.50

 

300

Melancon, Richard J.

 

62159

 

00001980

 

6/7/1999

 

$19.50

 

7,200

Mendel Sr., Shane P.

 

62231

 

00002137

 

7/15/1999

 

$21.06

 

320

Miller, Gary Nuel

 

12699

 

00003302

 

7/1/2000

 

$47.37

 

480

-45-

--------------------------------------------------------------------------------

Name

 

ID

 

Grant
Number

 

Grant
Date

 

Option
Price

 

Options
Outstanding
At IPO

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

MILLER, RAY C

 

64994

 

00001596

 

11/12/1998

 

$25.87

 

4,500

Miller, Richard R.

 

68958

 

00000701

 

11/12/1998

 

$25.87

 

3,000

Miller, Richard R.

 

68958

 

00001983

 

6/7/1999

 

$19.50

 

300

Miller, Richard R.

 

68958

 

00001983

 

6/7/1999

 

$19.50

 

1,900

Miller, Richard R.

 

68958

 

00001983

 

6/7/1999

 

$19.50

 

4,800

Mitchell, Iain Malcolm

 

68454

 

00002139

 

7/15/1999

 

$21.06

 

480

Mitchen, James

 

71298

 

00002221

 

5/13/1998

 

$59.42

 

17,000

Mitchen, James

 

71298

 

00002194

 

12/1/1998

 

$18.25

 

200

Mitchen, James

 

71298

 

00002194

 

12/1/1998

 

$18.25

 

400

Mitchen, James

 

71298

 

00002194

 

12/1/1998

 

$18.25

 

400

Mitchen, James

 

71298

 

00002194

 

12/1/1998

 

$18.25

 

400

Mitchen, James

 

71298

 

00002194

 

12/1/1998

 

$18.25

 

700

Mitchen, James

 

71298

 

00002194

 

12/1/1998

 

$18.25

 

900

Mitchen, James

 

71298

 

00002194

 

12/1/1998

 

$18.25

 

2,900

Mitchen, James

 

71298

 

00002194

 

12/1/1998

 

$18.25

 

4,300

Mitchen, James

 

71298

 

00002194

 

12/1/1998

 

$18.25

 

5,000

Mitchen, James

 

71298

 

00002194

 

12/1/1998

 

$18.25

 

5,000

Mitchen, James

 

71298

 

00002194

 

12/1/1998

 

$18.25

 

9,800

Mitchen, James

 

71298

 

00002194

 

12/1/1998

 

$18.25

 

10,000

Mohamed, Nurose K.

 

68965

 

00000705

 

11/12/1998

 

$25.87

 

500

Mohamed, Nurose K.

 

68965

 

00000705

 

11/12/1998

 

$25.87

 

1,500

Mohamed, Nurose K.

 

68965

 

00001986

 

6/7/1999

 

$19.50

 

1,500

Mohamed, Nurose K.

 

68965

 

00003279

 

7/1/2000

 

$47.37

 

3,000

Mohammed, Forde

 

73813

 

00003398

 

10/1/2000

 

$55.93

 

3,000

Mohammed, Omar

 

72379

 

00003287

 

7/1/2000

 

$47.37

 

3,000

Monteiro Jr., John D

 

67519

 

00003483

 

7/30/1997

 

$58.00

 

16,417

Monteiro Jr., John D

 

67519

 

00001269

 

11/12/1998

 

$25.87

 

3,667

Monteiro Jr., John D

 

67519

 

00001988

 

6/7/1999

 

$19.50

 

3,500

Moore, Roger O.

 

70002

 

00003388

 

10/1/2000

 

$55.93

 

800

Moore, Scott Tarleton

 

68632

 

00001990

 

6/7/1999

 

$19.50

 

100

Moore, Scott Tarleton

 

68632

 

00001990

 

6/7/1999

 

$19.50

 

250

Moore, Scott Tarleton

 

68632

 

00001990

 

6/7/1999

 

$19.50

 

400

Moore, Scott Tarleton

 

68632

 

00001990

 

6/7/1999

 

$19.50

 

750

Morgan, William T.

 

62724

 

00001469

 

11/12/1998

 

$25.87

 

2,750

Morgan, William T.

 

62724

 

00001991

 

6/7/1999

 

$19.50

 

5,250

Morgan, William T.

 

62724

 

00003665

 

7/14/2001

 

$38.07

 

4,140

Morgan, William T.

 

62724

 

00004217

 

7/10/2002

 

$28.80

 

3,750

Moss, John Evan

 

65316

 

00001679

 

11/12/1998

 

$25.87

 

2,000

Moss, John Evan

 

65316

 

00001992

 

6/7/1999

 

$19.50

 

500

Moss, John Evan

 

65316

 

00001992

 

6/7/1999

 

$19.50

 

1,000

Moss, Leighton E

 

62981

 

00001473

 

2/11/1999

 

$12.50

 

2,000

Moss, Leighton E

 

62981

 

00001473

 

2/11/1999

 

$12.50

 

15,749

Moss, Leighton E

 

62981

 

00001474

 

4/7/1999

 

$14.06

 

95,220

Moss, Leighton E

 

62981

 

00001475

 

5/19/1999

 

$20.12

 

3,280

Mullins Jr., Andrew Jack

 

62478

 

00001993

 

6/7/1999

 

$19.50

 

3,500

Mullins Jr., Andrew Jack

 

62478

 

00001993

 

6/7/1999

 

$19.50

 

3,500

Mullins, James F.

 

60604

 

00003392

 

10/1/2000

 

$55.93

 

320

Munson, Sarah

 

71170

 

00002327

 

12/1/1998

 

$18.25

 

500

Muse, Gary L.

 

62131

 

00002320

 

10/1/1999

 

$26.93

 

475

Musick, Paul Lowell

 

13887

 

00003403

 

10/1/2000

 

$55.93

 

7,500

Musick, Paul Lowell

 

13887

 

00003738

 

7/14/2001

 

$38.07

 

3,140

Musick, Paul Lowell

 

13887

 

00004218

 

7/10/2002

 

$28.80

 

2,500

Myrick, Christopher Haden

 

70813

 

00003299

 

7/1/2000

 

$47.37

 

800

-46-

--------------------------------------------------------------------------------

Name

 

ID

 

Grant
Number

 

Grant
Date

 

Option
Price

 

Options
Outstanding
At IPO

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

Nagle, Tim W.

 

69001

 

00000743

 

12/3/1996

 

$47.45

 

88,500

Nagle, Tim W.

 

69001

 

00000745

 

2/11/1999

 

$12.50

 

100

Nagle, Tim W.

 

69001

 

00000745

 

2/11/1999

 

$12.50

 

200

Nagle, Tim W.

 

69001

 

00000745

 

2/11/1999

 

$12.50

 

200

Nagle, Tim W.

 

69001

 

00000745

 

2/11/1999

 

$12.50

 

400

Nagle, Tim W.

 

69001

 

00000745

 

2/11/1999

 

$12.50

 

500

Nagle, Tim W.

 

69001

 

00000745

 

2/11/1999

 

$12.50

 

500

Nagle, Tim W.

 

69001

 

00000745

 

2/11/1999

 

$12.50

 

500

Nagle, Tim W.

 

69001

 

00000745

 

2/11/1999

 

$12.50

 

800

Nagle, Tim W.

 

69001

 

00000745

 

2/11/1999

 

$12.50

 

800

Nagle, Tim W.

 

69001

 

00000745

 

2/11/1999

 

$12.50

 

1,000

Nagle, Tim W.

 

69001

 

00000745

 

2/11/1999

 

$12.50

 

1,000

Nagle, Tim W.

 

69001

 

00000745

 

2/11/1999

 

$12.50

 

1,631

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

100

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

100

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

100

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

100

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

100

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

100

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

100

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

100

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

100

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

200

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

200

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

200

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

200

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

300

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

300

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

300

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

400

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

400

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

400

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

400

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

400

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

500

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

500

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

700

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

700

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

800

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

800

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

800

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

800

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

900

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

900

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

900

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

1,000

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

1,000

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

1,000

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

1,000

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

1,000

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

1,000

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

1,000

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

1,000

-47-

--------------------------------------------------------------------------------

Name

 

ID

 

Grant
Number

 

Grant
Date

 

Option
Price

 

Options
Outstanding
At IPO

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

1,000

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

1,100

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

1,100

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

1,200

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

1,200

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

1,300

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

1,400

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

1,500

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

1,700

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

2,200

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

2,200

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

2,300

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

2,300

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

2,300

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

2,300

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

2,500

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

2,500

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

2,500

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

2,500

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

3,000

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

3,400

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

3,500

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

3,600

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

3,800

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

4,000

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

5,000

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

5,000

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

6,500

Nagle, Tim W.

 

69001

 

00000746

 

4/7/1999

 

$14.06

 

9,700

Nagle, Tim W.

 

69001

 

00000747

 

5/19/1999

 

$20.12

 

9,000

Nagle, Tim W.

 

69001

 

00002491

 

1/28/2000

 

$25.31

 

100

Nagle, Tim W.

 

69001

 

00002491

 

1/28/2000

 

$25.31

 

100

Nagle, Tim W.

 

69001

 

00002491

 

1/28/2000

 

$25.31

 

200

Nagle, Tim W.

 

69001

 

00002491

 

1/28/2000

 

$25.31

 

200

Nagle, Tim W.

 

69001

 

00002491

 

1/28/2000

 

$25.31

 

300

Nagle, Tim W.

 

69001

 

00002491

 

1/28/2000

 

$25.31

 

369

Nagle, Tim W.

 

69001

 

00002491

 

1/28/2000

 

$25.31

 

500

Nagle, Tim W.

 

69001

 

00002491

 

1/28/2000

 

$25.31

 

500

Nagle, Tim W.

 

69001

 

00002491

 

1/28/2000

 

$25.31

 

1,000

Nagle, Tim W.

 

69001

 

00002491

 

1/28/2000

 

$25.31

 

1,500

Nagle, Tim W.

 

69001

 

00002491

 

1/28/2000

 

$25.31

 

1,500

Nagle, Tim W.

 

69001

 

00002491

 

1/28/2000

 

$25.31

 

1,700

Nagle, Tim W.

 

69001

 

00002491

 

1/28/2000

 

$25.31

 

2,400

Nagle, Tim W.

 

69001

 

00002491

 

1/28/2000

 

$25.31

 

5,000

Nagle, Tim W.

 

69001

 

00002491

 

1/28/2000

 

$25.31

 

23,500

Nagle, Tim W.

 

69001

 

00002496

 

1/28/2000

 

$25.31

 

62,500

Nagle, Tim W.

 

69001

 

00002500

 

1/28/2000

 

$25.31

 

100

Nagle, Tim W.

 

69001

 

00002500

 

1/28/2000

 

$25.31

 

200

Nagle, Tim W.

 

69001

 

00002500

 

1/28/2000

 

$25.31

 

300

Nagle, Tim W.

 

69001

 

00002500

 

1/28/2000

 

$25.31

 

300

Nagle, Tim W.

 

69001

 

00002500

 

1/28/2000

 

$25.31

 

600

Nagle, Tim W.

 

69001

 

00002500

 

1/28/2000

 

$25.31

 

700

Nagle, Tim W.

 

69001

 

00002500

 

1/28/2000

 

$25.31

 

700

-48-

--------------------------------------------------------------------------------

Name

 

ID

 

Grant
Number

 

Grant
Date

 

Option
Price

 

Options
Outstanding
At IPO

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

Nagle, Tim W.

 

69001

 

00002500

 

1/28/2000

 

$25.31

 

2,000

Nagle, Tim W.

 

69001

 

00002500

 

1/28/2000

 

$25.31

 

2,300

Nagle, Tim W.

 

69001

 

00002500

 

1/28/2000

 

$25.31

 

2,300

Nagle, Tim W.

 

69001

 

00002500

 

1/28/2000

 

$25.31

 

2,500

Nagle, Tim W.

 

69001

 

00002500

 

1/28/2000

 

$25.31

 

2,500

Nagle, Tim W.

 

69001

 

00002500

 

1/28/2000

 

$25.31

 

2,500

Nagle, Tim W.

 

69001

 

00002500

 

1/28/2000

 

$25.31

 

4,300

Nagle, Tim W.

 

69001

 

00002500

 

1/28/2000

 

$25.31

 

4,300

Nagle, Tim W.

 

69001

 

00002500

 

1/28/2000

 

$25.31

 

4,500

Nagle, Tim W.

 

69001

 

00002500

 

1/28/2000

 

$25.31

 

5,000

Nagle, Tim W.

 

69001

 

00002500

 

1/28/2000

 

$25.31

 

5,000

Nagle, Tim W.

 

69001

 

00002500

 

1/28/2000

 

$25.31

 

5,000

Nagle, Tim W.

 

69001

 

00002500

 

1/28/2000

 

$25.31

 

5,000

Nagle, Tim W.

 

69001

 

00002500

 

1/28/2000

 

$25.31

 

5,000

Nagle, Tim W.

 

69001

 

00002500

 

1/28/2000

 

$25.31

 

9,400

Nagle, Tim W.

 

69001

 

00002500

 

1/28/2000

 

$25.31

 

25,500

Neto, Joao

 

65547

 

00002448

 

1/1/2000

 

$25.31

 

480

Netterville, Edward Eugene

 

69008

 

00003313

 

7/1/2000

 

$47.37

 

320

Nixon, Lawrence Edward

 

71769

 

00003230

 

4/1/2000

 

$41.25

 

300

Nixon, Lawrence Edward

 

71769

 

00003230

 

4/1/2000

 

$41.25

 

1,200

Odom, Wilbert R

 

73470

 

00003410

 

10/1/2000

 

$55.93

 

210

Ofner, Charles R.

 

69024

 

00000771

 

2/11/1999

 

$12.50

 

100

Ofner, Charles R.

 

69024

 

00000771

 

2/11/1999

 

$12.50

 

1,000

Ofner, Charles R.

 

69024

 

00000771

 

2/11/1999

 

$12.50

 

1,000

Ofner, Charles R.

 

69024

 

00000771

 

2/11/1999

 

$12.50

 

2,000

Ofner, Charles R.

 

69024

 

00000771

 

2/11/1999

 

$12.50

 

2,001

Ofner, Charles R.

 

69024

 

00000771

 

2/11/1999

 

$12.50

 

10,000

Ofner, Charles R.

 

69024

 

00000772

 

4/7/1999

 

$14.06

 

100

Ofner, Charles R.

 

69024

 

00000772

 

4/7/1999

 

$14.06

 

600

Ofner, Charles R.

 

69024

 

00000772

 

4/7/1999

 

$14.06

 

1,900

Ofner, Charles R.

 

69024

 

00000772

 

4/7/1999

 

$14.06

 

2,000

Ofner, Charles R.

 

69024

 

00000772

 

4/7/1999

 

$14.06

 

2,100

Ofner, Charles R.

 

69024

 

00000772

 

4/7/1999

 

$14.06

 

4,000

Ofner, Charles R.

 

69024

 

00000772

 

4/7/1999

 

$14.06

 

4,900

Ofner, Charles R.

 

69024

 

00000772

 

4/7/1999

 

$14.06

 

5,000

Ofner, Charles R.

 

69024

 

00000772

 

4/7/1999

 

$14.06

 

10,000

Ofner, Charles R.

 

69024

 

00000772

 

4/7/1999

 

$14.06

 

10,000

Ofner, Charles R.

 

69024

 

00000772

 

4/7/1999

 

$14.06

 

14,520

Ofner, Charles R.

 

69024

 

00000772

 

4/7/1999

 

$14.06

 

19,400

Ofner, Charles R.

 

69024

 

00000773

 

5/19/1999

 

$20.12

 

6,480

Ofner, Charles R.

 

69024

 

00002494

 

1/28/2000

 

$25.31

 

18,671

Ofner, Charles R.

 

69024

 

00002503

 

1/28/2000

 

$25.31

 

37,500

Ohnemus, Karl Heinz

 

01594

 

00003452

 

1/1/2001

 

$46.87

 

168

Olivier, Wilkinson

 

70860

 

00002195

 

12/1/1998

 

$18.25

 

500

Oubre, Jules V

 

69402

 

00003253

 

4/1/2000

 

$41.25

 

4,500

Ouellette, Ed

 

12834

 

00002003

 

6/7/1999

 

$19.50

 

4,500

Owen, Gary

 

70831

 

00002196

 

12/1/1998

 

$18.25

 

50,000

Padilla, Charles David

 

69038

 

00002301

 

10/1/1999

 

$26.93

 

480

Palmer, Cody Bernt

 

19795

 

00003227

 

4/1/2000

 

$41.25

 

300

Palmer, Cody Bernt

 

19795

 

00003227

 

4/1/2000

 

$41.25

 

2,700

Parks, Leroy Silas

 

70870

 

00003353

 

7/1/2000

 

$47.37

 

800

Pattarozzi, Richard A

 

71879

 

00002421

 

2/14/2000

 

$25.43

 

30,000

Paul, Larry Ted

 

70040

 

00002143

 

7/15/1999

 

$21.06

 

187

-49-

--------------------------------------------------------------------------------

Name

 

ID

 

Grant
Number

 

Grant
Date

 

Option
Price

 

Options
Outstanding
At IPO

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

Pellegrin, Lloyd M.

 

62106

 

00001391

 

11/12/1998

 

$25.87

 

2,650

Pellegrin, Lloyd M.

 

62106

 

00001391

 

11/12/1998

 

$25.87

 

4,100

Pellegrin, Lloyd M.

 

62106

 

00002007

 

6/7/1999

 

$19.50

 

10,250

Pellegrin, Lloyd M.

 

62106

 

00003676

 

7/14/2001

 

$38.07

 

4,640

Pellegrin, Lloyd M.

 

62106

 

00004219

 

7/10/2002

 

$28.80

 

4,000

Penrose, Brian

 

69058

 

00000811

 

11/12/1998

 

$25.87

 

4,500

Penrose, Brian

 

69058

 

00002009

 

6/7/1999

 

$19.50

 

4,000

Perry, Donnie G.

 

69059

 

00002464

 

1/1/2000

 

$25.31

 

1,560

Perry, Donnie G.

 

69059

 

00003248

 

4/1/2000

 

$41.25

 

6,000

Peterson Jr, Everrett Leroy

 

70902

 

00003354

 

7/1/2000

 

$47.37

 

480

Petrie, William

 

65542

 

00003222

 

4/1/2000

 

$41.25

 

480

Phillips, Russell

 

71821

 

00003205

 

4/1/2000

 

$41.25

 

480

Piehler, David Martin

 

70818

 

00003286

 

7/1/2000

 

$47.37

 

10,500

Piehler, David Martin

 

70818

 

00003824

 

7/14/2001

 

$38.07

 

3,640

Pieters Graafland, Arthur Rudolph

 

68474

 

00002145

 

7/15/1999

 

$21.06

 

109

Pinell, Charles William

 

70900

 

00003355

 

7/1/2000

 

$47.37

 

1,120

Pinkard, Randall Chris

 

68663

 

00002197

 

12/1/1998

 

$18.25

 

400

Pinkard, Randall Chris

 

68663

 

00002011

 

6/7/1999

 

$19.50

 

100

Pinkard, Randall Chris

 

68663

 

00002011

 

6/7/1999

 

$19.50

 

400

Pinkard, Randall Chris

 

68663

 

00002011

 

6/7/1999

 

$19.50

 

400

Pinkard, Randall Chris

 

68663

 

00002011

 

6/7/1999

 

$19.50

 

500

Pinkard, Randall Chris

 

68663

 

00002011

 

6/7/1999

 

$19.50

 

500

Pinkard, Randall Chris

 

68663

 

00002011

 

6/7/1999

 

$19.50

 

500

Pinkard, Randall Chris

 

68663

 

00002011

 

6/7/1999

 

$19.50

 

500

Pinkard, Randall Chris

 

68663

 

00002011

 

6/7/1999

 

$19.50

 

500

Pinkard, Randall Chris

 

68663

 

00002011

 

6/7/1999

 

$19.50

 

500

Pinkard, Randall Chris

 

68663

 

00002011

 

6/7/1999

 

$19.50

 

500

Pinkard, Randall Chris

 

68663

 

00002011

 

6/7/1999

 

$19.50

 

500

Pinkard, Randall Chris

 

68663

 

00002011

 

6/7/1999

 

$19.50

 

500

Pinkard, Randall Chris

 

68663

 

00002011

 

6/7/1999

 

$19.50

 

750

Pinkard, Randall Chris

 

68663

 

00002011

 

6/7/1999

 

$19.50

 

1,000

Pinkard, Randall Chris

 

68663

 

00002011

 

6/7/1999

 

$19.50

 

1,000

Pinkard, Randall Chris

 

68663

 

00002011

 

6/7/1999

 

$19.50

 

1,000

Pinkard, Randall Chris

 

68663

 

00002011

 

6/7/1999

 

$19.50

 

1,000

Pinkard, Randall Chris

 

68663

 

00002011

 

6/7/1999

 

$19.50

 

1,000

Pinkard, Randall Chris

 

68663

 

00002011

 

6/7/1999

 

$19.50

 

1,000

Pinkley, James W.

 

60675

 

00003801

 

7/14/2001

 

$38.07

 

3,140

Pinkley, James W.

 

60675

 

00004220

 

7/10/2002

 

$28.80

 

2,500

Price, James Dale

 

70911

 

00003356

 

7/1/2000

 

$47.37

 

1,120

Pugh, Anthony James

 

71927

 

00003198

 

4/1/2000

 

$41.25

 

480

Quatrevingt, Lisa D.

 

62116

 

00001395

 

11/12/1998

 

$25.87

 

334

Quatrevingt, Lisa D.

 

62116

 

00002017

 

6/7/1999

 

$19.50

 

150

Quatrevingt, Lisa D.

 

62116

 

00002017

 

6/7/1999

 

$19.50

 

150

Quatrevingt, Lisa D.

 

62116

 

00002017

 

6/7/1999

 

$19.50

 

217

Quinones, Robert Anthony

 

70909

 

00003357

 

7/1/2000

 

$47.37

 

800

Quiroz, Philip J

 

70842

 

00003336

 

7/1/2000

 

$47.37

 

3,000

RAGAS, LLOYD A

 

67510

 

00001259

 

11/12/1998

 

$25.87

 

1,000

Ralph, Bruce Graham

 

20755

 

00003212

 

4/1/2000

 

$41.25

 

1,120

Rathbun, Ruth R.

 

69091

 

00000831

 

11/12/1998

 

$25.87

 

2,000

Rathbun, Ruth R.

 

69091

 

00002018

 

6/7/1999

 

$19.50

 

1,500

Rayner, Steven Ernest

 

68391

 

00002304

 

10/1/1999

 

$26.93

 

480

Read, David K.

 

60285

 

00000841

 

11/12/1998

 

$25.87

 

3,500

Read, David K.

 

60285

 

00002019

 

6/7/1999

 

$19.50

 

5,250

-50-

--------------------------------------------------------------------------------

Name

 

ID

 

Grant
Number

 

Grant
Date

 

Option
Price

 

Options
Outstanding
At IPO

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

Reeves Jr., Robert H.

 

62060

 

00001382

 

11/12/1998

 

$25.87

 

1,814

Reeves Jr., Robert H.

 

62060

 

00002023

 

6/7/1999

 

$19.50

 

2,250

Reeves Jr., Robert H.

 

62060

 

00002023

 

6/7/1999

 

$19.50

 

12,500

Reeves Jr., Robert H.

 

62060

 

00003678

 

7/14/2001

 

$38.07

 

10,140

Reeves Jr., Robert H.

 

62060

 

00004221

 

7/10/2002

 

$28.80

 

10,500

Reeves Sr., Robert P.

 

62022

 

00002022

 

6/7/1999

 

$19.50

 

1,000

Reeves, Charles E.

 

62193

 

00001419

 

11/12/1998

 

$25.87

 

1,300

Reeves, Charles E.

 

62193

 

00001419

 

11/12/1998

 

$25.87

 

4,200

Reeves, Charles E.

 

62193

 

00002020

 

6/7/1999

 

$19.50

 

5,250

Reeves, Rayford C.

 

62129

 

00001399

 

11/12/1998

 

$25.87

 

1,000

Reeves, Rayford C.

 

62129

 

00002021

 

6/7/1999

 

$19.50

 

600

Reeves, Rayford C.

 

62129

 

00002021

 

6/7/1999

 

$19.50

 

700

Rein, Valrie J.

 

62070

 

00001385

 

11/12/1998

 

$25.87

 

6,750

Rein, Valrie J.

 

62070

 

00002024

 

6/7/1999

 

$19.50

 

8,250

Rein, Valrie J.

 

62070

 

00003677

 

7/14/2001

 

$38.07

 

4,640

Rein, Valrie J.

 

62070

 

00004223

 

7/10/2002

 

$28.80

 

3,750

Reynolds, James Michael

 

67562

 

00003231

 

4/1/2000

 

$41.25

 

3,000

Richardson, Daniel

 

70843

 

00002259

 

5/13/1998

 

$59.42

 

2,550

Richardson, Daniel

 

70843

 

00002199

 

12/1/1998

 

$18.25

 

1,500

Richardson, Daniel

 

70843

 

00002465

 

1/1/2000

 

$25.31

 

9,000

Richmond, David W.

 

64266

 

00001525

 

11/12/1998

 

$25.87

 

3,000

Richmond, David W.

 

64266

 

00002026

 

6/7/1999

 

$19.50

 

2,667

Richoux Jr., Leroy A.

 

62151

 

00002027

 

6/7/1999

 

$19.50

 

2,250

Richoux Jr., Leroy A.

 

62151

 

00002027

 

6/7/1999

 

$19.50

 

2,250

Rodney, Don P.

 

62303

 

00001441

 

11/12/1998

 

$25.87

 

6,750

Rodney, Don P.

 

62303

 

00002029

 

6/7/1999

 

$19.50

 

10,250

Rodney, Don P.

 

62303

 

00003672

 

7/14/2001

 

$38.07

 

2,840

Rodney, Don P.

 

62303

 

00004225

 

7/10/2002

 

$28.80

 

3,000

Rogne, John

 

65027

 

00003190

 

4/1/2000

 

$41.25

 

480

Romero, Jennifer Kay

 

61618

 

00001352

 

11/12/1998

 

$25.87

 

1,000

Romero, Jennifer Kay

 

61618

 

00001860

 

6/7/1999

 

$19.50

 

1,300

Rosinbaum, Larry W.

 

64062

 

00001511

 

11/12/1998

 

$25.87

 

1,334

Rosinbaum, Larry W.

 

64062

 

00002035

 

6/7/1999

 

$19.50

 

867

RUSHING, JR., JOHN W

 

77417

 

00002328

 

12/1/1998

 

$18.25

 

2,500

Rutherford, James H.

 

70097

 

00003459

 

1/1/2001

 

$46.87

 

800

Saba, Marco

 

72412

 

00003419

 

10/1/2000

 

$55.93

 

480

SANDMEYER, ROBERT L

 

78058

 

00001097

 

4/7/1999

 

$14.06

 

800

SANDMEYER, ROBERT L

 

78058

 

00001097

 

4/7/1999

 

$14.06

 

2,000

SANDMEYER, ROBERT L

 

78058

 

00001099

 

4/7/1999

 

$14.06

 

800

SANDMEYER, ROBERT L

 

78058

 

00001099

 

4/7/1999

 

$14.06

 

5,000

SANDMEYER, ROBERT L

 

78058

 

00001099

 

4/7/1999

 

$14.06

 

5,750

Santiago, Maria

 

71276

 

00002201

 

12/1/1998

 

$18.25

 

500

Santiago, Maria

 

71276

 

00002293

 

10/1/1999

 

$26.93

 

4,000

Santos, Peter John

 

70821

 

00002202

 

12/1/1998

 

$18.25

 

1,000

Savoy, Joseph James

 

70102

 

00002153

 

7/15/1999

 

$21.06

 

800

Schwertz, Michael P

 

71765

 

00003249

 

4/1/2000

 

$41.25

 

100

Schwertz, Michael P

 

71765

 

00003249

 

4/1/2000

 

$41.25

 

1,400

Schwertz, Michael P

 

71765

 

00003249

 

4/1/2000

 

$41.25

 

1,500

Scott, Jason P.

 

63981

 

00003250

 

4/1/2000

 

$41.25

 

3,000

Scott, Terrell Carl

 

71713

 

00003359

 

7/1/2000

 

$47.37

 

480

Shand, Derek Arthur

 

72863

 

00003295

 

7/1/2000

 

$47.37

 

800

SHOLER, DAVID K

 

65152

 

00001635

 

11/12/1998

 

$25.87

 

5,500

SHORT, J. K

 

70590

 

00001297

 

11/12/1998

 

$25.87

 

5,500

-51-

--------------------------------------------------------------------------------

Name

 

ID

 

Grant
Number

 

Grant
Date

 

Option
Price

 

Options
Outstanding
At IPO

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

Silverman, Peter J.

 

69168

 

00000893

 

11/12/1998

 

$25.87

 

4,500

Silverman, Peter J.

 

69168

 

00002040

 

6/7/1999

 

$19.50

 

4,000

Smith, John Stuart

 

60392

 

00003309

 

7/1/2000

 

$47.37

 

628

Spannagel, Johnny

 

71179

 

00002329

 

12/1/1998

 

$18.25

 

1,000

Spence, Robert George

 

71203

 

00002453

 

1/1/2000

 

$25.31

 

480

Stafford, Michael Jay

 

51533

 

00002159

 

7/15/1999

 

$21.06

 

320

Stafford, Randall Allan

 

71859

 

00003232

 

4/1/2000

 

$41.25

 

17,000

Stafford, Randall Allan

 

71859

 

00003808

 

7/14/2001

 

$38.07

 

6,140

Stafford, Randall Allan

 

71859

 

00004094

 

7/10/2002

 

$28.80

 

6,500

Sterling, Donald W.

 

69190

 

00000920

 

11/12/1998

 

$25.87

 

5,500

Sterling, Donald W.

 

69190

 

00002048

 

6/7/1999

 

$19.50

 

5,250

Stewart, Bernie W.

 

63131

 

00002521

 

4/15/1996

 

$19.44

 

0

Stewart, Bernie W.

 

63131

 

00002521

 

4/15/1996

 

$19.44

 

0

Stewart, Bernie W.

 

63131

 

00002521

 

4/15/1996

 

$19.44

 

0

Stewart, Bernie W.

 

63131

 

00002521

 

4/15/1996

 

$19.44

 

0

Stewart, Bernie W.

 

63131

 

00002521

 

4/15/1996

 

$19.44

 

0

Stewart, Bernie W.

 

63131

 

00002521

 

4/15/1996

 

$19.44

 

0

Stewart, Bernie W.

 

63131

 

00002521

 

4/15/1996

 

$19.44

 

0

Stewart, Bernie W.

 

63131

 

00002521

 

4/15/1996

 

$19.44

 

0

Stewart, Bernie W.

 

63131

 

00002521

 

4/15/1996

 

$19.44

 

0

Stewart, Bernie W.

 

63131

 

00002521

 

4/15/1996

 

$19.44

 

4,500

Stewart, Bernie W.

 

63131

 

00002521

 

4/15/1996

 

$19.44

 

5,000

Stewart, Bernie W.

 

63131

 

00002521

 

4/15/1996

 

$19.44

 

5,000

Stewart, Bernie W.

 

63131

 

00002521

 

4/15/1996

 

$19.44

 

5,000

Stewart, Bernie W.

 

63131

 

00001480

 

4/7/1999

 

$14.06

 

0

Stewart, Bernie W.

 

63131

 

00001480

 

4/7/1999

 

$14.06

 

0

Stewart, Bernie W.

 

63131

 

00001480

 

4/7/1999

 

$14.06

 

0

Stewart, Bernie W.

 

63131

 

00001480

 

4/7/1999

 

$14.06

 

0

Stewart, Bernie W.

 

63131

 

00001480

 

4/7/1999

 

$14.06

 

0

Stewart, Bernie W.

 

63131

 

00001480

 

4/7/1999

 

$14.06

 

0

Stewart, Bernie W.

 

63131

 

00001480

 

4/7/1999

 

$14.06

 

0

Stewart, Bernie W.

 

63131

 

00001480

 

4/7/1999

 

$14.06

 

0

Stewart, Bernie W.

 

63131

 

00001480

 

4/7/1999

 

$14.06

 

0

Stewart, Bernie W.

 

63131

 

00001480

 

4/7/1999

 

$14.06

 

0

Stewart, Bernie W.

 

63131

 

00001480

 

4/7/1999

 

$14.06

 

0

Stewart, Bernie W.

 

63131

 

00001480

 

4/7/1999

 

$14.06

 

0

Stewart, Bernie W.

 

63131

 

00001480

 

4/7/1999

 

$14.06

 

0

Stewart, Bernie W.

 

63131

 

00001481

 

5/19/1999

 

$20.12

 

5,000

Stewart, Bernie W.

 

63131

 

00001481

 

5/19/1999

 

$20.12

 

5,500

Stewart, Bernie W.

 

63131

 

00002492

 

1/28/2000

 

$25.31

 

500

Stewart, Bernie W.

 

63131

 

00002492

 

1/28/2000

 

$25.31

 

2,100

Stewart, Bernie W.

 

63131

 

00002492

 

1/28/2000

 

$25.31

 

2,400

Stewart, Bernie W.

 

63131

 

00002492

 

1/28/2000

 

$25.31

 

5,000

Stewart, Bernie W.

 

63131

 

00002492

 

1/28/2000

 

$25.31

 

5,000

Stewart, Bernie W.

 

63131

 

00002492

 

1/28/2000

 

$25.31

 

6,312

Stewart, Bernie W.

 

63131

 

00002501

 

1/28/2000

 

$25.31

 

200

Stewart, Bernie W.

 

63131

 

00002501

 

1/28/2000

 

$25.31

 

300

Stewart, Bernie W.

 

63131

 

00002501

 

1/28/2000

 

$25.31

 

400

Stewart, Bernie W.

 

63131

 

00002501

 

1/28/2000

 

$25.31

 

400

Stewart, Bernie W.

 

63131

 

00002501

 

1/28/2000

 

$25.31

 

500

Stewart, Bernie W.

 

63131

 

00002501

 

1/28/2000

 

$25.31

 

500

Stewart, Bernie W.

 

63131

 

00002501

 

1/28/2000

 

$25.31

 

500

Stewart, Bernie W.

 

63131

 

00002501

 

1/28/2000

 

$25.31

 

500

-52-

--------------------------------------------------------------------------------

Name

 

ID

 

Grant
Number

 

Grant
Date

 

Option
Price

 

Options
Outstanding
At IPO

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

Stewart, Bernie W.

 

63131

 

00002501

 

1/28/2000

 

$25.31

 

1,500

Stewart, Bernie W.

 

63131

 

00002501

 

1/28/2000

 

$25.31

 

2,000

Stewart, Bernie W.

 

63131

 

00002501

 

1/28/2000

 

$25.31

 

2,100

Stewart, Bernie W.

 

63131

 

00002501

 

1/28/2000

 

$25.31

 

2,100

Stewart, Bernie W.

 

63131

 

00002501

 

1/28/2000

 

$25.31

 

4,500

Stewart, Bernie W.

 

63131

 

00002501

 

1/28/2000

 

$25.31

 

4,700

Stewart, Bernie W.

 

63131

 

00002501

 

1/28/2000

 

$25.31

 

4,800

Stewart, Bernie W.

 

63131

 

00002501

 

1/28/2000

 

$25.31

 

5,000

Stewart, Bernie W.

 

63131

 

00002501

 

1/28/2000

 

$25.31

 

5,000

Stewart, Bernie W.

 

63131

 

00002501

 

1/28/2000

 

$25.31

 

5,000

Stout, Byron Keith

 

12871

 

00003380

 

10/1/2000

 

$55.93

 

7,500

Strauss, Russell E.

 

69601

 

00002286

 

10/1/1999

 

$26.93

 

3,000

Stripling, Darryl G.

 

69202

 

00000924

 

7/17/1995

 

$15.25

 

190

Stripling, Darryl G.

 

69202

 

00000924

 

7/17/1995

 

$15.25

 

400

Swanson, Douglas

 

71180

 

00002341

 

5/21/1997

 

$38.54

 

17,000

Swanson, Douglas

 

71180

 

00002342

 

5/13/1998

 

$59.42

 

42,500

Swanson, Douglas

 

71180

 

00002418

 

1/28/2000

 

$25.31

 

100

Swanson, Douglas

 

71180

 

00002418

 

1/28/2000

 

$25.31

 

850

Swanson, Douglas

 

71180

 

00002418

 

1/28/2000

 

$25.31

 

1,800

Talbot II, Daniel A.

 

69403

 

00003254

 

4/1/2000

 

$41.25

 

10,500

Taylor, Cynthia

 

71280

 

00002332

 

12/1/1998

 

$18.25

 

300

Taylor, Cynthia

 

71280

 

00002332

 

12/1/1998

 

$18.25

 

400

Taylor, Cynthia

 

71280

 

00002332

 

12/1/1998

 

$18.25

 

2,200

Taylor, Cynthia

 

71280

 

00002332

 

12/1/1998

 

$18.25

 

2,500

Taylor, Cynthia

 

71280

 

00002332

 

12/1/1998

 

$18.25

 

2,500

Taylor, Cynthia

 

71280

 

00002332

 

12/1/1998

 

$18.25

 

2,500

Taylor, Cynthia

 

71280

 

00002332

 

12/1/1998

 

$18.25

 

9,600

Taylor, Jerry

 

70149

 

00002234

 

5/13/1998

 

$59.42

 

850

Taylor, Jerry

 

70149

 

00002052

 

6/7/1999

 

$19.50

 

1,000

Taylor, Jerry

 

70149

 

00002298

 

10/1/1999

 

$26.93

 

2,500

Taylor, Ronald L.

 

69214

 

00000940

 

11/12/1998

 

$25.87

 

3,000

Taylor, Ronald L.

 

69214

 

00002053

 

6/7/1999

 

$19.50

 

4,667

Temple, Robert John

 

22260

 

00000944

 

11/12/1998

 

$25.87

 

4,500

Temple, Robert John

 

22260

 

00002054

 

6/7/1999

 

$19.50

 

4,000

Terrebonne, Clyde Joseph

 

70823

 

00003225

 

4/1/2000

 

$41.25

 

1,120

Thomas, Eugene Lewis

 

64577

 

00001546

 

11/12/1998

 

$25.87

 

3,000

Thomas, Eugene Lewis

 

64577

 

00002057

 

6/7/1999

 

$19.50

 

3,000

Thomas, Eugene Lewis

 

64577

 

00003659

 

7/14/2001

 

$38.07

 

4,640

Thomas, Eugene Lewis

 

64577

 

00004226

 

7/10/2002

 

$28.80

 

4,200

Thompson, Wayne C.

 

69223

 

00000951

 

11/12/1998

 

$25.87

 

301

Thompson, Wayne C.

 

69223

 

00000951

 

11/12/1998

 

$25.87

 

700

Thompson, Wayne C.

 

69223

 

00000951

 

11/12/1998

 

$25.87

 

1,249

Thompson, Wayne C.

 

69223

 

00000951

 

11/12/1998

 

$25.87

 

2,250

Thompson, Wayne C.

 

69223

 

00002059

 

6/7/1999

 

$19.50

 

2,000

Thompson, Wayne C.

 

69223

 

00002059

 

6/7/1999

 

$19.50

 

2,000

Thompson, Wayne C.

 

69223

 

00003237

 

4/1/2000

 

$41.25

 

1,500

Thompson, Wayne C.

 

69223

 

00003237

 

4/1/2000

 

$41.25

 

1,500

Thompson, Wayne C.

 

69223

 

00003740

 

7/14/2001

 

$38.07

 

5,140

Toalson, David C.

 

69226

 

07072000

 

7/7/2000

 

$45.00

 

800

Toalson, David C.

 

69226

 

07072000

 

7/7/2000

 

$45.00

 

36,700

Tolar, Roger Wayne

 

70853

 

00003188

 

4/1/2000

 

$41.25

 

1,120

Toomath, Danial Terrence

 

77260

 

00003296

 

7/1/2000

 

$47.37

 

800

TOTTEN, RONNIE D

 

71613

 

00001253

 

11/12/1998

 

$25.87

 

1,334

-53-

--------------------------------------------------------------------------------

Name

 

ID

 

Grant
Number

 

Grant
Date

 

Option
Price

 

Options
Outstanding
At IPO

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

TOTTEN, RONNIE D

 

71613

 

00002063

 

6/7/1999

 

$19.50

 

5,000

Toufeeq, Imran

 

69233

 

00000967

 

7/17/1995

 

$15.25

 

300

Toufeeq, Imran

 

69233

 

00000967

 

7/17/1995

 

$15.25

 

500

Toufeeq, Imran

 

69233

 

00000967

 

7/17/1995

 

$15.25

 

3,000

Toufeeq, Imran

 

69233

 

00000967

 

7/17/1995

 

$15.25

 

3,180

Toufeeq, Imran

 

69233

 

00000967

 

7/17/1995

 

$15.25

 

6,000

Toufeeq, Imran

 

69233

 

00000971

 

5/19/1999

 

$20.12

 

200

Toufeeq, Imran

 

69233

 

00000971

 

5/19/1999

 

$20.12

 

300

Toufeeq, Imran

 

69233

 

00000971

 

5/19/1999

 

$20.12

 

400

Toufeeq, Imran

 

69233

 

00000971

 

5/19/1999

 

$20.12

 

400

Toufeeq, Imran

 

69233

 

00000971

 

5/19/1999

 

$20.12

 

500

Toufeeq, Imran

 

69233

 

00000971

 

5/19/1999

 

$20.12

 

500

Toufeeq, Imran

 

69233

 

00000971

 

5/19/1999

 

$20.12

 

700

Toufeeq, Imran

 

69233

 

00000971

 

5/19/1999

 

$20.12

 

1,000

Toufeeq, Imran

 

69233

 

00000971

 

5/19/1999

 

$20.12

 

1,000

Toufeeq, Imran

 

69233

 

00000971

 

5/19/1999

 

$20.12

 

1,700

Toufeeq, Imran

 

69233

 

00000971

 

5/19/1999

 

$20.12

 

2,000

Toufeeq, Imran

 

69233

 

00000971

 

5/19/1999

 

$20.12

 

2,300

Toufeeq, Imran

 

69233

 

00000971

 

5/19/1999

 

$20.12

 

2,300

Toufeeq, Imran

 

69233

 

00000971

 

5/19/1999

 

$20.12

 

2,500

Toufeeq, Imran

 

69233

 

00000971

 

5/19/1999

 

$20.12

 

4,500

Toufeeq, Imran

 

69233

 

00000971

 

5/19/1999

 

$20.12

 

4,700

Toufeeq, Imran

 

69233

 

00000971

 

5/19/1999

 

$20.12

 

5,000

Toufeeq, Imran

 

69233

 

00000971

 

5/19/1999

 

$20.12

 

10,000

Toufeeq, Imran

 

69233

 

00000971

 

5/19/1999

 

$20.12

 

35,000

Toufeeq, Imran

 

69233

 

00002493

 

1/28/2000

 

$25.31

 

26,308

Toufeeq, Imran

 

69233

 

00002497

 

1/28/2000

 

$25.31

 

37,500

Toufeeq, Imran

 

69233

 

00002502

 

1/28/2000

 

$25.31

 

40,000

Townsend, Ronald W

 

70845

 

00002258

 

5/13/1998

 

$59.42

 

3,400

Townsend, Ronald W

 

70845

 

00002204

 

12/1/1998

 

$18.25

 

2,000

Townsend, Ronald W

 

70845

 

00003337

 

7/1/2000

 

$47.37

 

11,500

TRAHAN, ALBERT J

 

71438

 

00001283

 

11/12/1998

 

$25.87

 

250

Trahan, Andrew W.

 

70158

 

00002163

 

7/15/1999

 

$21.06

 

800

Trevitt, Richard Edwin

 

67742

 

00000073

 

11/12/1998

 

$25.87

 

6,750

Trevitt, Richard Edwin

 

67742

 

00002466

 

1/1/2000

 

$25.31

 

750

Trevitt, Richard Edwin

 

67742

 

00002466

 

1/1/2000

 

$25.31

 

1,000

Trevitt, Richard Edwin

 

67742

 

00002466

 

1/1/2000

 

$25.31

 

1,400

Trevitt, Richard Edwin

 

67742

 

00002466

 

1/1/2000

 

$25.31

 

7,100

Trombley, Allan E.

 

69237

 

00000976

 

11/12/1998

 

$25.87

 

5,500

Trombley, Allan E.

 

69237

 

00002064

 

6/7/1999

 

$19.50

 

5,250

Truhlar Jr., Robert C

 

72045

 

00003226

 

4/1/2000

 

$41.25

 

4,500

Vande Zande, Paul

 

71185

 

00002334

 

12/1/1998

 

$18.25

 

500

Vandervort, Jeffrey John

 

68709

 

00002066

 

6/7/1999

 

$19.50

 

500

Vandervort, Jeffrey John

 

68709

 

00002066

 

6/7/1999

 

$19.50

 

1,000

Vedrines, Christopher

 

70863

 

00002265

 

5/13/1998

 

$59.42

 

1,700

Vedrines, Christopher

 

70863

 

00002205

 

12/1/1998

 

$18.25

 

1,000

Vedrines, Christopher

 

70863

 

00003338

 

7/1/2000

 

$47.37

 

6,500

Voisin Sr., Bradley J.

 

66366

 

00002067

 

6/7/1999

 

$19.50

 

7,000

Voisin Sr., Bradley J.

 

66366

 

00003658

 

7/14/2001

 

$38.07

 

4,140

Voisin Sr., Bradley J.

 

66366

 

00004228

 

7/10/2002

 

$28.80

 

3,750

Volkmer, Glenwood

 

70904

 

00003361

 

7/1/2000

 

$47.37

 

1,120

Vorst, Darren J

 

90758

 

00003633

 

7/14/2001

 

$38.07

 

4,640

Vorst, Darren J

 

90758

 

00004229

 

7/10/2002

 

$28.80

 

4,500

-54-

--------------------------------------------------------------------------------

Name

 

ID

 

Grant
Number

 

Grant
Date

 

Option
Price

 

Options
Outstanding
At IPO

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

Wanenmacher III, Joseph Melching

 

69262

 

00000996

 

7/17/1995

 

$15.25

 

1,860

Wanenmacher III, Joseph Melching

 

69262

 

00001001

 

11/12/1998

 

$25.87

 

4,500

Wanenmacher III, Joseph Melching

 

69262

 

00002069

 

6/7/1999

 

$19.50

 

4,000

Warren, Ronald Franklin

 

71067

 

00002457

 

1/1/2000

 

$25.31

 

1,120

Watson, Robert Wayne

 

70846

 

00002270

 

5/13/1998

 

$59.42

 

850

Watson, Robert Wayne

 

70846

 

00003339

 

7/1/2000

 

$47.37

 

7,000

Weathers, Drew A.

 

69267

 

00001009

 

11/12/1998

 

$25.87

 

3,500

Weathers, Drew A.

 

69267

 

00002071

 

6/7/1999

 

$19.50

 

150

Weathers, Drew A.

 

69267

 

00002071

 

6/7/1999

 

$19.50

 

2,100

Webster, Steven A.

 

62886

 

00001110

 

2/7/1995

 

$12.50

 

8,850

Webster, Steven A.

 

62886

 

00002518

 

1/23/1996

 

$12.12

 

100,000

Webster, Steven A.

 

62886

 

00001112

 

2/11/1999

 

$12.50

 

106,224

Webster, Steven A.

 

62886

 

00001111

 

4/7/1999

 

$14.06

 

496,800

Webster, Steven A.

 

62886

 

00001113

 

5/19/1999

 

$20.12

 

43,200

Webster, Steven A.

 

62886

 

00002420

 

1/28/2000

 

$25.31

 

2,750

West, Gordon W.

 

69272

 

00001018

 

11/12/1998

 

$25.87

 

2,000

West, Gordon W.

 

69272

 

00002073

 

6/7/1999

 

$19.50

 

1,500

White, Calvin L.

 

63467

 

00001487

 

11/12/1998

 

$25.87

 

1,000

White, Stephen Michael

 

68487

 

00003320

 

7/1/2000

 

$47.37

 

480

Whitman, William Newell

 

70910

 

00003362

 

7/1/2000

 

$47.37

 

1,120

Wibrew, Edward T.

 

60301

 

00001020

 

11/12/1998

 

$25.87

 

1,000

Wibrew, Edward T.

 

60301

 

00002076

 

6/7/1999

 

$19.50

 

1,300

Wibrew, Edward T.

 

60301

 

00003293

 

7/1/2000

 

$47.37

 

1,500

WIGGINS, BRYAN P

 

71614

 

00001255

 

11/12/1998

 

$25.87

 

1,334

WIGGINS, BRYAN P

 

71614

 

00002078

 

6/7/1999

 

$19.50

 

1,000

Wiggins, Danny Wayne

 

70914

 

00003363

 

7/1/2000

 

$47.37

 

480

Wilkerson, James Olen

 

60566

 

00003439

 

1/1/2001

 

$46.87

 

800

Williams, Alfred Moore

 

68601

 

00002467

 

1/1/2000

 

$25.31

 

22,000

Williamson, Doyle Allen

 

70847

 

00003340

 

7/1/2000

 

$47.37

 

7,500

Wilson, Glenn Lewis

 

70848

 

00003341

 

7/1/2000

 

$47.37

 

4,500

Wilson, James

 

70832

 

00002248

 

5/13/1998

 

$59.42

 

4,250

Wilson, James

 

70832

 

00002207

 

12/1/1998

 

$18.25

 

450

Wilson, James

 

70832

 

00002207

 

12/1/1998

 

$18.25

 

500

Wilson, James

 

70832

 

00002207

 

12/1/1998

 

$18.25

 

800

Wilson, James

 

70832

 

00002207

 

12/1/1998

 

$18.25

 

7,250

Wilson, John C.

 

69295

 

00001039

 

11/12/1998

 

$25.87

 

1,000

Wise, Jim

 

71303

 

00002208

 

12/1/1998

 

$18.25

 

10,000

Wise, Jim

 

71303

 

00002208

 

12/1/1998

 

$18.25

 

30,000

Wolff, Christian V.

 

69309

 

00001057

 

11/12/1998

 

$25.87

 

1,500

Wolff, Christian V.

 

69309

 

00001057

 

11/12/1998

 

$25.87

 

1,900

Wolff, Christian V.

 

69309

 

00001057

 

11/12/1998

 

$25.87

 

2,100

Wolff, Christian V.

 

69309

 

00002084

 

6/7/1999

 

$19.50

 

5,250

Wolfshohl, Lionel

 

62482

 

00002085

 

6/7/1999

 

$19.50

 

500

Wolfshohl, Lionel

 

62482

 

00002085

 

6/7/1999

 

$19.50

 

500

Wolfshohl, Lionel

 

62482

 

00002085

 

6/7/1999

 

$19.50

 

500

Wolfshohl, Lionel

 

62482

 

00002085

 

6/7/1999

 

$19.50

 

500

Wolfshohl, Lionel

 

62482

 

00002085

 

6/7/1999

 

$19.50

 

900

Wolfshohl, Lionel

 

62482

 

00002085

 

6/7/1999

 

$19.50

 

933

Wolfshohl, Lionel

 

62482

 

00002085

 

6/7/1999

 

$19.50

 

1,917

Wright, Janet

 

69312

 

00001059

 

7/17/1995

 

$15.25

 

180

Wright, Janet

 

69312

 

00001059

 

7/17/1995

 

$15.25

 

225

Wright, Janet

 

69312

 

00001059

 

7/17/1995

 

$15.25

 

285

Wright, Janet

 

69312

 

00001059

 

7/17/1995

 

$15.25

 

285

-55-

--------------------------------------------------------------------------------

Name

 

ID

 

Grant
Number

 

Grant
Date

 

Option
Price

 

Options
Outstanding
At IPO

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

Wright, Janet

 

69312

 

00001059

 

7/17/1995

 

$15.25

 

310

Wright, Janet

 

69312

 

00001059

 

7/17/1995

 

$15.25

 

350

Wright, Janet

 

69312

 

00001059

 

7/17/1995

 

$15.25

 

725

Wright, Janet

 

69312

 

00001064

 

11/12/1998

 

$25.87

 

4,500

Yester, Martin Edward

 

12788

 

00002087

 

6/7/1999

 

$19.50

 

1,500

Yester, Martin Edward

 

12788

 

00002087

 

6/7/1999

 

$19.50

 

3,000

Young, Frank Michael

 

71771

 

00003203

 

4/1/2000

 

$41.25

 

480

ZIEGLER, WILLIAM R

 

76095

 

00001101

 

4/7/1999

 

$14.06

 

21,500

ZIEGLER, WILLIAM R

 

76095

 

00001102

 

5/19/1999

 

$20.13

 

8,500

ZIEGLER, WILLIAM R

 

76095

 

00002419

 

1/28/2000

 

$25.31

 

2,750

 

 

 

 

 

 

 

 

 

 

--------------------------------------------------------------------------------

Totals

 

 

 

 

 

 

 

 

 

6,083,906

 

 

 

 

 

 

 

 

 

 

--------------------------------------------------------------------------------

-56-

--------------------------------------------------------------------------------

APPENDIX A

Examples Illustrating the Application of Section 4

The following examples illustrate the operation of various provisions of Section
4 of this Agreement.  Each of the examples assumes (i) an income tax rate of
35%, (ii) that the IPO Closing Date occurred in 2003, and (iii) that TODCO files
a Separate Return with respect to all Taxes in 2004 and later years.

          Example 1.  In 2004, TODCO has $100x of gross income, all of which is
from sources outside the United States, and pays $35x of Foreign Income Taxes. 
TODCO has no other expenses or deductions in 2004, but has available a $100x net
operating loss (“NOL”) carryforward from 2002.  TODCO elects (or Holdings causes
TODCO to elect) to credit, rather than deduct, Foreign Income Taxes paid in
2004.  TODCO’s foreign tax credits are, however, subject to full limitation, but
solely because of the existence of the 2002 NOL.  The following reflects TODCO’s
2004 liability for Taxes with and without regard to the 2002 NOL:

 

 

Actual Return
with 2002 NOL

 

Hypothetical Return
without 2002 NOL

 

 

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

Gross Income

 

 

100x

 

 

100x

 

Deductions

 

 

-0-

 

 

-0-

 

2002 NOL

 

 

100x

 

 

-0-

 

 

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

Pre-Credit Tax Liability

 

 

-0-

 

 

35x

 

Credits

 

 

-0-

 

 

35x

 

 

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

Income Tax Liability

 

 

-0-

 

 

-0-

 

          Pursuant to Section 4.2(b)(i), the 2002 NOL is treated as a Pre-IPO
Tax Asset.  Because the 2002 NOL has the effect of reducing Taxes for which
TODCO is liable pursuant to Section 2 (without regard to the 2004 foreign tax
credits that could have otherwise been used), TODCO must pay Holdings pursuant
to Section 4.2(a) an amount equal to the value of the 2002 NOL.  Pursuant to
4.2(c), the value of the 2002 NOL is $35x (viz., 35% x $100x), reduced by the
value of the foreign tax credits that could have been used to similarly reduce
TODCO’s Taxes, but for the existence of the 2002 NOL.  Pursuant to clause (x) of
the last sentence of Section 4.2(c), the value of the foreign tax credits is
$28x (viz., 80% x $35x).  Accordingly, the value of the 2002 NOL, $35x, is
reduced by the value of the foreign tax credits, $28x, resulting in a $7 payment
obligation by TODCO to Holdings.

          Pursuant to Section 4.2(b)(iv), the 2004 foreign tax credits will
thereafter be treated as a Pre-IPO Tax Asset.  Accordingly, if TODCO
subsequently uses those credits on a Tax Return to reduce its Taxes, it must pay
Holdings under Section 4.2(a) an amount equal to the value of those credits. 
The value of those credits will be $28x, pursuant to Section 4.2(c)(iii), but
subject to reduction by any Post-IPO Tax that could have otherwise been used to
similarly reduce such Taxes.  Similarly, if TODCO uses only half of those
credits (i.e., $17.5x), TODCO must only pay Holdings an amount equal to the
value of half of the credits (i.e., $14x, subject to reduction by any Post-IPO
Tax that could have otherwise been used to similarly reduce such Taxes).

-57-

--------------------------------------------------------------------------------

          Example 2.  The facts are the same as in Example 1, except that TODCO
elects (or Holdings causes TODCO to elect) to deduct rather than credit Foreign
Income Taxes paid in 2004.  The following reflects TODCO’s 2004 liability for
Taxes with and without regard to the 2002 NOL:

 

 

Actual Return
with 2002 NOL

 

Hypothetical Return
without 2002 NOL

 

 

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

Gross Income

 

 

100x

 

 

100x

 

Deductions

 

 

35x

 

 

35x

 

2002 NOL

 

 

65x

 

 

-0-

 

 

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

Pre-Credit Tax Liability

 

 

-0-

 

 

22.75x

 

Credits

 

 

-0-

 

 

-0-

 

 

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

Income Tax Liability

 

 

-0-

 

 

22.75x

 

          Pursuant to Section 4.2(b)(i), the 2002 NOL is treated as a Pre-IPO
Tax Asset.  Because $65x of the 2002 NOL has the effect of reducing Taxes for
which TODCO is liable pursuant to Section 2, TODCO must pay Holdings pursuant to
Section 4.2(a) an amount equal to the value of that portion of the 2002 NOL. 
Pursuant to 4.2(c), the value of that portion of the 2002 NOL is $22.75x (viz.,
35% x $65x), reduced by the value of any Post-IPO Tax Asset that could have
otherwise been used to reduce TODCO’s Taxes.  Pursuant to the second sentence of
Section 4.2(c), the deduction for Foreign Income Taxes paid in 2004 will be
considered a Tax Asset that could have otherwise been so used, because TODCO
could have credited, rather than deducted, such Foreign Income Taxes but for the
existence of the 2002 NOL.  Pursuant to clause (y) of the last sentence of
Section 4.2(c), the value of the such deduction shall equal $18.20x (viz., 80% x
($35x – 35% x $35x)).  Accordingly, the value of $65x of the 2002 NOL, $22.75x,
is reduced by the value of the deduction for Foreign Income Taxes paid in 2004,
$18.20x, resulting in a $4.55 payment obligation by TODCO to Holdings.

          Example 3.  The facts are the same as in Example 1, except that in
2008 TODCO files (or Holdings causes TODCO to file) an amended Tax Return for
2004 in which TODCO elects to deduct, rather than credit, Foreign Income Taxes
paid in 2004 (i.e., the results in Example 2).  Accordingly, TODCO’s obligations
under Section 4.2(a) will be recomputed taking into account the amended Tax
Return, and TODCO and Holdings will make payments between each other pursuant to
Section 5.3 to reflect the adjusted obligation.  On these facts, Holdings would
pay TODCO $2.45 (viz. $7 - $4.55).

-58-

--------------------------------------------------------------------------------

          The change in the 2004 election, however, also reduces the amount of
the 2002 NOL carryforward that is used in 2004.  Accordingly, a payment
obligation may arise with respect to the $35x of 2002 NOL carryforward that is
carried to 2005 or a later year.

          Example 4.  In 2004, TODCO has $100x of gross income and pays no
Foreign Income Taxes.  TODCO has no expenses or deductions in 2004, but has
available a $100x NOL carryforward from 2002.  The following reflects TODCO’s
2004 liability for Taxes with and without regard to the 2002 NOL:

 

 

Actual Return
with 2002 NOL

 

Hypothetical Return
without 2002 NOL

 

 

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

Gross Income

 

 

100x

 

 

100x

 

Deductions

 

 

-0-

 

 

-0-

 

2002 NOL

 

 

100x

 

 

-0-

 

 

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

Pre-Credit Tax Liability

 

 

-0-

 

 

-0-

 

Credits

 

 

-0-

 

 

-0-

 

 

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

Income Tax Liability

 

 

-0-

 

 

35x

 

          Pursuant to Section 4.2(b)(i), the 2002 NOL is treated as a Pre-IPO
Tax Asset.  Because the 2002 NOL has the effect of reducing Taxes for which
TODCO is liable pursuant to Section 2, TODCO must pay Holdings pursuant to
Section 4.2(a) an amount equal to the value of the 2002 NOL.  Pursuant to
4.2(c)(i), the value of the 2002 NOL is $35x (viz., 35% x $100x).  Accordingly,
TODCO must pay Holdings $35x.

          In 2005, TODCO generates a $100x NOL.  Pursuant to the “provided,
however,” clause of Section 4.2(c), TODCO may not carry back the 2005 NOL to the
hypothetical 2004 Tax Return in order to reduce the value of the 2002 NOL that
was used in 2004.

          Example 5.  In 2004, TODCO generates a $100x NOL.  In 2005, TODCO has
$100x of gross income and pays no Foreign Income Taxes.  TODCO has no expenses
or deductions in 2005, but has available a $100x NOL carryforward from 2002 and
a $100x NOL carryforward from 2004 .  The following reflects TODCO’s 2005
liability for Taxes with and without regard to the 2002 NOL:

 

 

Actual Return
with 2002 NOL

 

Hypothetical Return
without 2002 NOL

 

 

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

Gross Income

 

 

100x

 

 

100x

 

Deductions

 

 

-0-

 

 

-0-

 

2002 NOL

 

 

100x

 

 

-0-

 

2004 NOL

 

 

-0-

 

 

100x

 

 

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

Pre-Credit Tax Liability

 

 

-0-

 

 

-0-

 

Credits

 

 

-0-

 

 

-0-

 

 

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

Income Tax Liability

 

 

-0-

 

 

-0-

 

-59-

--------------------------------------------------------------------------------

          Pursuant to Section 4.2(b)(i), the 2002 NOL is treated as a Pre-IPO
Tax Asset.  Because the 2002 NOL has the effect of reducing Taxes for which
TODCO is liable pursuant to Section 2 (without regard to the 2004 NOL that could
have otherwise been used), TODCO must pay Holdings pursuant to Section 4.2(a) an
amount equal to the value of the 2002 NOL.  Pursuant to 4.2(c), the value of the
2002 NOL is $35x (viz., 35% x $100x), reduced by the value of the 2004 NOL that
could have been used to similarly reduce TODCO’s Taxes, but for the existence of
the 2002 NOL.  Pursuant to the general rule of Section 4.2(c)(i), the value of
the 2004 NOL is $35x (viz., 35% x $100x).  Accordingly, the value of the 2002
NOL, $35x, is reduced by the value of the 2004 NOL, also $35x, resulting in no
payment obligation by TODCO to Holdings.

          Pursuant to Section 4.2(b)(iv), the 2004 NOL will thereafter be
treated in the same manner as if such NOL had been created on or before the
Closing Date.  Accordingly, if TODCO subsequently uses the 2004 NOL on a Tax
Return to reduce its Taxes, it must pay Holdings under Section 4.2(a) an amount
equal to the value of such NOL.

          Example 6.  In 2004, TODCO has $100x of gross income from sources
outside the United States, and pays $35x of Foreign Income Taxes.  TODCO also
has $100 of gross income from sources within the United States and a $100
deduction from sources outside the United States.  TODCO has no other expenses
or deductions in 2004, but has available a $100x NOL carryforward from 2002. 
TODCO elects (or Holdings causes TODCO to elect) to credit, rather than deduct,
Foreign Income Taxes paid in 2004.  TODCO’s foreign tax credits are, however,
subject to full limitation, NOT solely because of the existence of the 2002 NOL,
but also because of the $100 deduction from sources outside the United States. 
The following reflects TODCO’s 2004 liability for Taxes with and without regard
to the 2002 NOL:

 

 

Actual Return
with 2002 NOL

 

Hypothetical Return
without 2002 NOL

 

 

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

Gross Income (US Source)

 

 

100x

 

 

100x

 

Gross Income (Foreign Source)

 

 

100x

 

 

100x

 

Deductions (US Source)

 

 

-0-

 

 

-0-

 

Deductions (Foreign Source)

 

 

100x

 

 

100x

 

2002 NOL

 

 

100x

 

 

-0-

 

 

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

Pre-Credit Tax Liability

 

 

-0-

 

 

35x

 

Credits

 

 

-0-

 

 

-0-

 

 

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

Income Tax Liability

 

 

-0-

 

 

35x

 

-60-

--------------------------------------------------------------------------------

          Pursuant to Section 4.2(b)(i), the 2002 NOL is treated as a Pre-IPO
Tax Asset.  Because the 2002 NOL has the effect of reducing Taxes for which
TODCO is liable pursuant to Section 2 (without regard to the 2004 foreign tax
credits), TODCO must pay Holdings pursuant to Section 4.2(a) an amount equal to
the value of the 2002 NOL.  Pursuant to 4.2(c), the value of the 2002 NOL is
$35x (viz., 35% x $100x), reduced by the value of the foreign tax credits that
could have been used to similarly reduce TODCO’s Taxes, but for the existence of
the 2002 NOL.  Because the foreign tax credits could not have been used even
without the existence of the 2002 NOL, there is no reduction in the value of the
2002 NOL.  Accordingly, there is a $35 payment obligation by TODCO to Holdings. 
The foreign tax credits continue to be a Post-IPO Tax Asset.

          Example 7.  As of January 30, 2006, TODCO and its Subsidiaries,
collectively, have the following Tax Assets:

 

•

a $1,000x NOL carryforward from 2002,

 

 

 

 

•

a $100x foreign tax credit carryforward from 2002, and

 

 

 

 

•

a $100x foreign tax credit carryforward from 2004 that is treated as a Pre-IPO
Tax Asset by reason of Section 4.2(b)(iv) with a value of $80x pursuant to
Section 4.2(c)(iii).

          On January 31, 2006, TODCO disposes of 30% of the stock of one its
Subsidiaries (“Subsidiary A”).  As a result of such disposition, Subsidiary A
immediately thereafter ceases to join in the filing of a Federal Income Tax
Return that is filed on a consolidated basis by TODCO and its eligible
Subsidiaries (the “Deconsolidation”).  Under the relevant Tax Law, Subsidiary A
will be allowed to carry forward and deduct or credit, as applicable, on a Tax
Return filed with respect to a Tax Year, or portion thereof, beginning after the
day of Deconsolidation the following Tax Assets: (1) $200x of the 2002 NOL
carryforward, (2) $20x of the 2002 foreign tax credit carryforward, and (3) $20x
of the 2004 foreign tax credit carryforward.  On May 31, 2006, 51% of the TODCO
stock is acquired by a corporation unrelated to Holdings.

          As a result of the Deconsolidation, the TODCO Tax Group will, pursuant
to Section 4.2(g), be deemed to have used those Tax Assets attributable to
Subsidiary A: (1) $200x of the 2002 NOL carryforward, (2) $20x of the 2002
foreign tax credit carryforward, and (3) $20x of the 2004 foreign tax credit
carryforward.  The value of these deemed used Tax Assets is determined as
follows:

 

•

The value of $200x of the 2002 NOL carryforward will equal $70x (viz., 35% x
$200), pursuant to Section 4.2(c)(i) and the penultimate sentence of Section
4.2(g).

 

 

 

 

•

The value of $20x of the 2002 foreign tax credit carryforward will equal $7x
(viz., 35% x $20), pursuant to Section 4.2(c)(i) and the last sentence of
Section 4.2(g).

 

 

 

 

•

The value of $20x of the 2004 foreign tax credit carryforward will equal $16x
(viz., 20/100 x $80x), pursuant to Section 4.2(c)(iii) and the penultimate
sentence of Section 4.2(g).

-61-

--------------------------------------------------------------------------------

          The Applicable Discount Rate for 2006 is 0.70.  Accordingly, TODCO
will be obligated to pay Holdings $65.1x (viz., ($70x + $7x + $16x) x 0.70),
pursuant to Sections 4.2(a) and (g).  Such payment will be due 30 days after
January 30, 2006, pursuant to Section 5.2(c)(iii).  This payment is due without
regard to whether any member of the TODCO Tax Group actually uses such Tax
Assets.

          As a result of the acquisition of 51% of the stock of TODCO by a
corporation unrelated to Holdings, the remaining members of the TODCO Tax Group
will, pursuant to Section 4.2(f), be deemed to have used: (1) the remaining
$800x of the 2002 NOL carryforward, (2) the remaining $80x of the 2002 foreign
tax credit carryforward, and (3) the remaining $80x of the 2004 foreign tax
credit carryforward.  Pursuant to Section 4.2(h)(i), TODCO will not be deemed to
have again used the Pre-IPO Tax Assets deemed used on January 30, 2006 pursuant
to Section 4.2(g).  The value of these deemed used Tax Assets is determined as
follows:

 

•

The value of the remaining $800x of the 2002 NOL carryforward will equal $280x
(viz., 35% x $800), pursuant to Section 4.2(c)(i) and the penultimate sentence
of Section 4.2(f).

 

 

 

 

•

The value of the remaining $80x of the 2002 foreign tax credit carryforward will
equal $28x (viz., 35% x $80), pursuant to Section 4.2(c)(i) and the last
sentence of Section 4.2(f).

 

 

 

 

•

The value of the remaining $80x of the 2004 foreign tax credit carryforward will
equal $64x (viz., 80/100 x $80x), pursuant to Section 4.2(c)(iii) and the
penultimate sentence of Section 4.2(g).

          The Applicable Discount Rate for 2006 is 0.70.  Accordingly, TODCO
will be obligated to pay Holdings $260.4x (viz., ($280x + $28x + $64x) x 0.70),
pursuant to Sections 4.2(a) and (f).  Such payment will be due 30 days after May
30, 2006, pursuant to Section 5.2(c)(iii).  This payment is due without regard
to whether any member of the TODCO Tax Group actually uses such Tax Assets.

          Example 8.  In 2007, TODCO utilizes Louisiana net operating losses of
$100x that were carried forward from the 2000 Tax Year.  Assume the highest
statutory corporate income tax rate in Louisiana for 2007 is 8%.

          Pursuant to Section 4.2(b)(i), the 2000 Louisiana net operating losses
are treated as Pre-IPO Tax Assets.  Pursuant to Section 4.2(c)(i), the value of
these Pre-IPO Tax Assets is $8x (viz, $100x x 8%, the highest statutory tax rate
applicable under Louisiana law).  However, pursuant to Section 4.2(h)(iv), this
value is reduced by $2.8x (viz., $8x x 35%, the highest statutory tax rate
applicable under Section 11 of the Code).

-62-

--------------------------------------------------------------------------------

          Accordingly, the value of the $100x of Tax Year 2000 Louisiana net
operating losses utilized in Tax Year 2007 is $5.2x and results in a payment
obligation of such amount by TODCO to Holdings:

Pre-IPO Tax Asset Utilized

 

 

100x

 

Multiplied by Section 4.2(c)(i) tax rate

 

 

8

%

 

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

Section 4.2(c)(i) Value

 

 

8x

 

Section 4.2(h)(5) reduction ($8x x 35%)

 

 

(2.8x

)

 

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

Payment Obligation by TODCO to Holdings

 

 

5.2x

 

          Example 9.  In 2007, Transocean stock options described in Section 4.4
are exercised which result in tax deductions of $20x for TODCO.  Assume TODCO
has taxable income for 2007 of $200x, before considering any deductions for
Transocean stock options described in Section 4.4 or utilization of any net
operating loss or other carryovers.

          Pursuant to Section 4.4, TODCO has a payment obligation to Holdings
with respect to such stock option exercises equal to $3.85x, as detailed below.

Section 4.4 Stock Option Deduction

 

 

20x

 

Multiplied by Section 4.4 Pre-IPO Tax Asset Percentage

 

 

55

%

 

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

Amount Treated as a Section 4.2 Pre-IPO Tax Asset

 

 

11x

 

Multiplied by Section 4.2(c)(i) Highest Statutory Tax Rate

 

 

35

%

 

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

Section 4.2(c)(i) Value

 

 

3.85x

 

          Example 10.  Assume the stock option deductions in Example 9 result in
payroll Taxes described in Section 2.5(f) of $1.0x.  Pursuant to Section 2.5(f),
funding of payroll Taxes is an obligation of Holdings.  However, Holdings’s
payment of this payroll Tax results in a Tax deduction to TODCO equal to $1.0x. 
Pursuant to Section 4.4, TODCO has an additional payment obligation to Holdings
equal to the product of 55% (Section 4.4 Pre-IPO Tax Asset percentage) x $1.0x
(payroll deduction) x 35% (the highest statutory tax rate under Code Section
11).  TODCO thus has an additional payment obligation to Holdings of $0.1925x. 
Pursuant to Sections 3.2(a) and (b)(i), Holdings or another Transocean affiliate
will issue the applicable IRS Forms W-2 or 1099 to the persons exercising the
stock options.

          Example 11.  Assume the same facts as in Example 9, except that TODCO
has a net loss of $80x for Tax Year 2007 before considering any deductions for
Transocean stock options described in Section 4.4 or utilization of any net
operating loss or other carryovers.  Thus, TODCO has a total net operating loss
for the year of $100x after taking into account the Section 4.4 stock option
deductions of $20x.

-63-

--------------------------------------------------------------------------------

          The same $11x of stock options deductions is treated as a Pre-IPO Tax
Asset (and the value remains at $3.85x), but the payment obligation by TODCO to
Holdings is deferred until actual use.  The remaining $89x of TODCO’s 2007 net
loss is a Post-IPO Tax Asset.

          Example 12.  Assume the same facts as in Example 11.  Also assume that
TODCO generates taxable income in 2008, 2009 and 2010 as detailed below. 
Further assume that there are no other Post-IPO Tax Assets or Section 4.4 stock
option deductions in these years, but that there are Pre-IPO net operating
losses as outlined below.  Lastly, assume that there are no Code Section 382
limitations for any year nor any other Pre-IPO Tax Assets other than the net
operating loss carryovers listed below.

Pre-IPO Net Operating Losses:

 

Taxable Income in Post-IPO Years

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

Year

 

Amount

 

Year

 

Amount

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

--------------------------------------------------------------------------------

 

2000

 

 

100x

 

 

2008

 

 

300x

 

2001

 

 

150x

 

 

2009

 

 

200x

 

2002

 

 

200x

 

 

2010

 

 

300x

 

2003

 

 

150x

 

 

 

 

 

 

 

 

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

 

 

 

 

 

 

Total

 

 

600x

 

 

 

 

 

 

 

          For Tax Year 2008, TODCO utilizes on its Tax Return $300x of Pre-IPO
net operating loss carryovers: $100x from Tax Year 2000, $150x from Tax Year
2001, and $50x from Tax Year 2002.

          Pursuant to Section 4.2(c), the value of the Pre-IPO net operating
losses utilized in Tax Year 2008 is as follows:

Pre-IPO Net Operating Losses Utilized

 

 

300x

 

Multiplied by Section 4.2(c)(i) Highest Statutory Tax Rate

 

 

35

%

 

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

Preliminary Value

 

 

105x

 

Section 4.2(c)(iii) Reduction ($89x x 35%)

 

 

(31.15x

)

 

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

TODCO payment obligation to Holdings

 

 

73.85x

 

          Pursuant to Section 4.2(b)(iv), $89x of the 2007 net operating loss is
treated as a Pre-IPO Tax Asset for 2009 and later years.

          For Tax Year 2009, TODCO utilizes on its Tax Return $200x of Pre-IPO
net operating loss carryovers: $150x from Tax Year 2002 and $50x from Tax Year
2003.

-64-

--------------------------------------------------------------------------------

          Pursuant to Section 4.2(c), the value of the Pre-IPO net operating
losses utilized in Tax Year 2009 is as follows:

Pre-IPO Net Operating Losses Utilized

 

 

200x

 

Multiplied by Section 4.2(c)(i) Highest Statutory Tax Rate

 

 

35

%

 

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

TODCO payment obligation to Holdings

 

 

70x

 

          For Tax Year 2010, TODCO utilizes on its Tax Return $100x of Pre-IPO
net operating loss carryovers from 2003.  TODCO also utilizes $100x of net
operating loss carryovers from Tax Year 2007, $89x of which is treated as a
Pre-IPO Tax Assets pursuant to Section 4.2(b)(iv).  The remaining $11 million of
the net operating loss carryover from Tax Year 2007 is treated as a Pre-IPO Tax
Asset pursuant to Section 4.4.

          TODCO’s payment obligation to Holdings for Tax Year 2010 is computed
as follows:

2003 Net Operating Loss Utilized

 

 

100x

 

2007 Net Operating Loss Utilized

 

 

89x

 

Section 4.4 Pre-IPO Tax Asset

 

 

11x

 

 

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

Total Pre-IPO Tax Asset Usage

 

 

200x

 

Multiplied by Section 4.2(c)(i) Highest Statutory Tax Rate

 

 

35

%

 

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

TODCO payment obligation to Holdings

 

 

70x

 

          Example 13.  Assume the same facts as in example 12 except that, on
December 31, 2008, 51% of the TODCO stock is acquired by a corporation unrelated
to Holdings.  Pursuant to Section 4.2(f), TODCO has a payment obligation to
Holdings with respect to the following Pre-IPO Tax Assets:

2002 Net Operating Loss

 

 

150x

 

2003 Net Operating Loss

 

 

150x

 

2007 Net Operating Loss

 

 

89x

 

 

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

Total Pre-IPO Tax Asset

 

 

389x

 

Multiplied by Section 4.2(c)(i) Highest Statutory Tax Rate

 

 

35

%

 

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

Value of Unutilized Pre-IPO Tax Assets

 

 

136.15x

 

Multiplied by Applicable Discount Rate

 

 

0.80

 

 

 

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

 

TODCO payment obligation to Holdings

 

 

108.92x

 

          The $11x of Section 4.4 Pre-IPO Tax Assets are not subject to the
Section 4.2(f) change of control payment or the Section 4.2(g) deconsolidation
payment.  However, this amount does remain subject, following the change of
control, to the general payment provisions of Sections 4.2 and 5 based upon
actual use.  Additionally, any Transocean stock options exercised after the
change of control which are subject to Section 4.4 remain subject to the payment
obligation outlined in Sections 4.2 and 5 based upon actual use.

          Example 14.  At the beginning of Tax Year 2009, there remains $100
million in unutilized Pre-IPO Tax Assets.  For Tax Year 2009, TODCO utilizes $97
million in Pre-IPO Tax Assets, leaving $3 million in unutilized Pre-IPO Tax
Assets at December 31, 2009.  Pursuant to Section 3.2(b)(ii), because the
unutilized Pre-IPO Tax Assets exceeded $5 million at some time during 2009,
Holdings retains the rights specified in Section 3.2(b)(ii) with respect to
TODCO’s Tax Returns for 2009.

-65-

--------------------------------------------------------------------------------