Document:

Exhibit

Exhibit 10.1

Performance Stock Unit Participation Agreement

This Performance Stock Unit Participation Agreement (the “Agreement”) is dated as of this __th day of ______ and sets forth the terms and conditions of the Award described below made by Heidrick & Struggles International, Inc. (the “Company”) to _____ (the “Participant”), pursuant to the Second Amended and Restated 2012 Heidrick & Struggles GlobalShare Program (the “Program” or the “Plan”).
As of ________ (the “Grant Date”), the Company has granted a target award of _____ Performance Stock Units (“PSUs”) to the Participant as set forth herein. The PSUs are granted pursuant to the Program and are governed by the terms and conditions of the Program. All defined terms used herein, unless specifically defined in this Agreement, have the meanings assigned to them in the Program. The Participant agrees to be bound by all terms and conditions of the Agreement and the Program, and has received and reviewed a copy of the Program and the Prospectus for the Program dated June 5, 2018.
The PSUs granted under this Agreement shall not become valid or enforceable unless and until the Participant executes the Agreement and it is accepted by the Company. By the Participant’s signature and the Company’s signature below, the Participant and the Company agree that this constitutes the signature page of the Agreement. Participant further agrees that the PSUs are granted under and governed by the terms and conditions of the Agreement and the Program. Agreements that are not signed and returned shall be invalid and unenforceable.
As a material condition and inducement to the Company’s grant of PSUs to the Participant, the Participant agrees that he or she has received and reviewed the Program and the Prospectus, and the Participant further agrees to be bound by all of the terms and conditions of the Agreement and the Program, as may be amended by the Company from time to time.
IN WITNESS WHEREOF, the parties hereto have duly executed the Agreement as of the date first set forth above.

    
Name:    

Heidrick & Struggles International, Inc.

By:                             
Name:    Kamau Coar
Title:    General Counsel & Corporate Secretary
    

Exhibit 10.1

NOW, THEREFORE, in consideration of the agreements of the Participant herein provided and pursuant to the Program, the parties agree as follows:
		
	1.
	Definitions.  All capitalized terms used herein, unless specifically defined herein, shall have the same meanings as established in the Program.

		
	2.
	Participation.  Pursuant to the Program and contingent upon the execution of the Agreement, the Company hereby grants to the Participant a target award of [_____] PSUs subject to the terms and conditions herein. 

3.Vesting of PSUs.
		
	(a)
	The number of [_____] PSUs granted under the Agreement that shall vest on [_____] is subject to the following conditions:

		
	(i)
	50% of the award will be based upon the attainment of Adjusted Operating Margin (“AOM”) goals for the 3 year period 2019 through 2021. The attainment will be in accordance with the schedule set forth below.

	
		
	3-year Adjusted Operating Margin
	Percentage of 
Target PSUs Vesting

	Intentionally omitted due to competitive nature of information
	200% (Maximum)

	100% (Target)

	50% (Threshold)

	0 %

For performance greater than 100% and less than 150% of target, or performance less than 100% and greater than 50% of target, the vesting percentage will be interpolated.
Except as set forth in Section 4 below, the portion of the target PSU Award that does not vest in accordance with the schedule set forth above shall be forfeited to the Company.
		
	(ii)
	50% of the award will be based upon the attainment of Total Shareholder Return (R-TSR) performance relative to the HR & Employment Services Industry. The attainment will be in accordance with the schedule set forth below.

	
		
	3-year R-TSR
	Percentage of 
Target PSUs Vesting

	75th Percentile or greater
	200% (Maximum)

	50th Percentile
	100% (Target)

	25th Percentile 
	50% (Threshold)

	Less than 25th Percentile
	0 %

For performance greater than the 50th percentile and less than the 75th percentile, or performance less than the 50th percentile and greater than the 25th percentile, the vesting percentage will be interpolated.

Exhibit 10.1

Except as set forth in Section 4 below, the portion of the target PSU Award that does not vest in accordance with the schedule set forth above shall be forfeited to the Company.
		
	(iii)
	The Participant has been in Continuous Service through the vesting date.  For purposes of the Agreement, “Continuous Service” shall mean the Participant’s service with the Company or any Subsidiary or Affiliate as an employee, or the Participant’s service as a member of the Board of Directors of the Company, has not been interrupted or terminated, and shall include any period during which the Participant is on an approved leave of absence from the Company or its Subsidiaries or Affiliates.

		
	(b)
	Notwithstanding the terms of Section 3(a) above, if the Participant’s Continuous Service is terminated as a result of the Participant’s death or Disability, the target number of PSUs granted to the Participant under the Agreement will immediately vest.

		
	(c)
	In the case of a Participant who is both an employee of the Company or any Subsidiary or Affiliate and a member of the Board of Directors of the Company, Continuous Service shall not end until the Participant’s service as both an employee and a director terminates.

		
	4.
	Change in Control. The PSUs are subject to the Change of Control provisions as set forth in detail in the Plan.  

5.    Characteristics of PSUs.
		
	(a)
	PSUs are not Shares and the grant of a target number of PSUs shall provide only those rights expressly set forth in the Agreement and the Program. The Participant is not deemed to be a stockholder in the Company or have any of the rights of a stockholder in the Company by virtue of the grant of PSUs.

		
	(b)
	The Participant does not have voting rights or any other rights inherent to the ownership of Shares, including the rights to dividends (other than as provided in Section 10), or other liquidating or non-liquidating distributions, by virtue of being granted PSUs.

		
	(c)
	Neither the PSUs nor any right hereunder or under the Program shall be transferable or be subject to attachment, execution or other similar process.  In the event of any attempt by the Participant to alienate, assign, pledge, hypothecate or otherwise dispose of the PSUs or of any right hereunder or under the Program, except as provided for in the Program, or in the event of any levy or any attachment, execution or similar process upon the rights or interest conferred by the PSUs, the Company may terminate the PSUs by notice to the Participant and the PSUs and any related rights, including the right to dividend equivalents as described in Section 10, shall thereupon be cancelled.

6.    Effect of Vesting.
		
	(a)
	If, and at the time, the Participant’s PSUs vest under the terms of Section 3 or Section 4, such Participant shall receive as full consideration for the PSUs a number of Shares equal to the number of PSUs which vested on such date.  

Exhibit 10.1

		
	(b)
	The PSUs granted to the Participant shall be maintained in a bookkeeping account with the custodian appointed by the Committee from time to time (the “Custodian”) for such Participant if and until the PSUs are converted into Shares pursuant to this Section 6, at which time the Shares shall be issued to the Participant in accordance with Section 9 below.

		
	7.
	Forfeiture of PSUs.  Subject to the next following sentence, the Participant’s PSUs shall be forfeited to the Company upon the Participant’s termination of Continuous Service with the Company and its Subsidiaries and Affiliates (a) for any reason other than the Participant’s death or Disability that occurs prior to the date the PSUs vest as provided in Section 3 above or (b) for any reason other than the Participant’s termination by the Company without Cause or the Participant’s voluntary termination due to the existence of Good Reason, in either case during the two-year period beginning on the date of a Change in Control, as provided in Section 4 above.  The foregoing provisions of this Section 7 shall be subject to the provisions of the Company’s Bonus, Restricted Stock Unit, Performance Stock Unit and Bonus Cash Deferral Retirement Policy (the “Retirement Policy”), and any other Company plan or written employment, severance or similar agreement that has been or may be executed by the Participant and the Company, and the provisions in such Retirement Policy or agreement concerning the vesting of the PSUs in connection with the Participant’s termination of Continuous Service shall supersede any inconsistent or contrary provision of this Section 7.

		
	8.
	Compensation Recovery.  The Participant’s PSUs are subject to the Clawback Policy adopted by the Board of Directors.  

		
	9.
	Delivery of Shares to the Participant.  As soon as practicable after the PSUs vest and are converted into Shares, and subject to Section 11, the Custodian shall, without transfer or issue tax or other incidental expense to the Participant, deliver to the Participant by first-class insured mail addressed to the Participant at the address shown on page 1 or the last address of record on file with the Custodian, (a) a statement from the Custodian referencing the number of Shares held in the Participant’s name in a book entry account, or (b) at the Participant’s request, certificate(s) for the number of Shares as to which the PSUs vested.  In any event, Shares due the Participant shall be delivered as described above no later than March 15 of the year following the calendar year in which such PSUs vest.

		
	10.
	Dividend Equivalents.  The Company shall credit the Participant’s PSU account with an amount equal to the dividends, if any, that would be paid with respect to the unvested PSUs as if the PSUs were actual Shares to a shareholder as of the Record date. Such amount shall be credited to the Participant’s PSU account at the same time dividends are paid with respect to the Shares, shall be subject to the vesting and forfeiture provisions set forth in Sections 3, 4 and 7 of the Agreement, and shall be paid to the Participant in cash, on the first payroll date following the date the Participant’s related PSUs vest and are issued as Shares to the Participant.

11.    Tax Withholdings and Payments.
		
	(a)
	The Company or any Subsidiary or Affiliate is authorized to withhold from any payment to be made to the Participant, amounts of income tax withholding and other taxes due in connection with compensation or any other transaction under the Program, including the receipt of Shares under Section 6.  The Participant shall hold the Company 

Exhibit 10.1

harmless for any damages caused by his or her failure to so comply and for any other damages caused by his or her actions or inactions.

		
	(b)
	The Participant may pay withholding taxes attributable to the receipt of Shares in cash, by having Shares withheld by the Company from any Shares that would otherwise be received by the Participant under the Agreement (in which case, the number of Shares so withheld shall have an aggregate Fair Market Value at the time of such withholding sufficient to satisfy the applicable withholding taxes), or by any other method approved by the Committee.  If the Participant does not satisfy the withholding obligation by cash payment within a reasonable time established by the Committee, the Participant’s withholding obligation shall be satisfied by the Company’s withholding of Shares from the vested PSUs.

		
	(c)
	The Company shall deduct from the dividend equivalents paid to the Participant pursuant to Section 10 the Participant’s withholding obligation arising from such payment.

12.    Miscellaneous.
		
	(a)
	The granting of an Award under the Program and the Agreement shall impose no obligation on the Company or any Subsidiary or Affiliate to continue the employment relationship or any other relationship between it and the Participant and shall not lessen or affect the Company’s, Subsidiary’s or Affiliate’s right to terminate its relationship with the Participant.  The Participant shall have no claim to be granted any further or other Award under the Program, and there is no obligation for uniformity of treatment of the Participants. The Participant acknowledges and agrees that: (i) the Program is established voluntarily by the Company, it is discretionary in nature and it may be modified, amended, suspended or terminated by the Company at any time;  (ii) the grant of PSUs is voluntary and occasional and does not create any contractual or other right to receive future grants of PSUs, or benefits in lieu of PSUs, even if PSUs have been granted repeatedly in the past; (iii) all decisions with respect to future PSU grants, if any, will be at the sole discretion of the Company; (iv) participation in the Program is voluntary; (v) the PSUs are not a part of normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments; (vi) the future value of the underlying shares is unknown and cannot be predicted with certainty; and (vii) in consideration of the grant of PSUs, no claim or entitlement to compensation or damages shall arise from termination of the PSUs or diminution in value of the PSUs or Shares received upon vesting including (without limitation) any claim or entitlement resulting from termination of the Participant’s active employment by the Company or a Subsidiary or Affiliate (for any reason whatsoever and whether or not in breach of local labor laws) and the Participant hereby releases the Company and its Subsidiaries and Affiliates from any such claim that may arise; if, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, then, by signing this Agreement, the Participant shall be deemed irrevocably to have waived the Participant’s entitlement to pursue such claim.

Exhibit 10.1

		
	(b)
	The Agreement shall, subject to the terms hereof, terminate upon the forfeiture and/or vesting of all PSUs and dividend equivalents granted to the Participant hereunder, unless otherwise agreed upon by the parties hereto.

		
	(c)
	The Agreement may be amended by the written agreement of the Company and the Participant. Notwithstanding the foregoing, (i) the Company may amend, alter or discontinue the Agreement, without the consent of the Participant so long as such amendment, alteration or discontinuance would not impair any of the rights or obligations under any Award theretofore granted to the Participant under the Program; and (ii) the Committee may amend the Agreement in such manner as it deems necessary to permit the granting of Awards meeting the requirements of the Code or other applicable laws.  

		
	(d)
	The parties agree that the Agreement shall be governed by and interpreted and construed in accordance with the laws of the United States and, in particular, those of the State of Illinois without regard to its conflict of law principles, as Illinois is the situs of the principal corporate office of the Company. Furthermore, to the extent not prohibited under applicable law, and unless the Company affirmatively elects in writing to allow the proceeding to be brought (or itself brings such a proceeding) in a different venue, the parties agree that any suit, action or proceeding with respect to the Program, the PSUs or the Agreement shall be brought in the state courts in Chicago, Illinois or in the U.S. District Court for the Northern District of Illinois.  The parties hereby accept the exclusive jurisdiction of those courts for the purpose of any such suit, action or proceeding.  Venue for any such action, in addition to any other venue required or otherwise mandated by statute, will be in Chicago, Illinois.  Each party further agrees to waive any applicable right to a jury trial, and expressly elects to have the matter heard as a bench trial.

		
	(e)
	Unless waived by the Company, any notice to the Company required under or relating to the Agreement shall be in writing and addressed to:

General Counsel & Corporate Secretary
Heidrick & Struggles International, Inc.
233 South Wacker Drive
Suite 4900
Chicago, IL 60606-6303
		
	13.
	Program Governs.  All terms and conditions of the Program are incorporated herein and made part hereof as if stated herein.  If there is any conflict between the terms and conditions of the Program and the Agreement, the terms and conditions of the Program, as interpreted by the Committee, shall govern.

		
	14.
	Data Privacy.    By signing below, the Participant voluntarily acknowledges and consents to the collection, use, processing and transfer of personal data as described in this Section 14. The Participant is not obliged to consent to such collection, use, processing and transfer of personal data.  However, the Participant’s failure to provide the consent may affect the Participant’s ability to participate in the Program.  The Company and its Subsidiaries and Affiliates hold certain personal information about the Participant, including the Participant’s name, home address and telephone number, date of birth, employee identification number, salary, nationality, job title, any shares of stock or directorships held in the Company, details 

Exhibit 10.1

of all options or any other rights or entitlements to shares of stock in the Participant’s favor, for the purpose of managing and administering the Program (“Data”).  The Company, its Subsidiaries and its Affiliates will transfer Data amongst themselves as necessary for the purpose of implementation, administration and management of the Participant’s participation in the Program, and the Company and any of its Subsidiaries or Affiliates may each further transfer Data to any third parties assisting in the implementation, administration and management of the Program. These recipients may be located in the European Economic Area, or elsewhere throughout the world, such as the United States.  The Participant authorizes them to receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing the Participant’s participation in the Program, including any requisite transfer of such Data as may be required for the administration of the Program and/or the subsequent holding of Shares on the Participant’s behalf to a broker or other third party with whom the Participant may elect to deposit any Shares acquired pursuant to the Program.  The Participant may, at any time, review Data, require any necessary amendments to it or withdraw the consents herein in writing by contacting the Company; however, by withdrawing consent, the Participant will affect his or her ability to participate in the Program.
15.    Execution of the Agreement.
		
	(a)
	The Parties agree that this Agreement shall be considered executed by both parties executing the Agreement as the first page hereof, which is a part hereof.

		
	(b)
	This Agreement, or any amendments thereto, may be executed in counterparts, each of which shall be deemed an original but all of which shall constitute one and the same instrument.Exhibit 41

		
			     THIRD SUPPLEMENTAL INDENTURE
		

		
			among
		

		
			GLOBAL MARINE INC.,
		

		
			as Issuer,
		

		
			TRANSOCEAN INC.,
		

		
			as Guarantor
		

		
			and
		

		
			WILMINGTON TRUST COMPANY,
		

		
			as Trustee
		

		
			 
		

		
			 
		

		
			July 29, 2019
		

		
			 
		

		
			
		

		
			

		 

		

			1

		

		

			 

		

		

		
			THIRD SUPPLEMENTAL INDENTURE (this “Third Supplemental Indenture”), dated as of July 29, 2019, among Global Marine Inc., a Delaware corporation (the “Company”), Transocean Inc., a Cayman Islands exempted company (the “Guarantor”), and Wilmington Trust Company, as trustee (the “Trustee”).
		

		
			WHEREAS, the Company has heretofore executed and delivered to the Trustee a Base Indenture, dated as of September 1, 1997 (the “Base Indenture”), as supplemented by the Terms Agreement, dated as of April 20, 1998, and as further amended and supplemented by the First Supplemental Indenture, dated as of June 23, 2000, and the Second Supplemental Indenture, dated as of November 20, 2001 (as so amended and supplemented, the “Indenture”), providing for the issuance of 7% Notes due 2028 (the “Notes”);
		

		
			WHEREAS, Section 9.01 of the Indenture provides that the Indenture may be amended or supplemented without the consent of the Holders to, among other things, add guarantees of any series of Securities and add to the covenants of the Company for the benefit of the Holders of all or any series of Securities;
		

		
			WHEREAS, the Guarantor desires to irrevocably and unconditionally guarantee all of the Company’s obligations under the Indenture and the Notes, including the punctual payment of principal of, premium, if any, and interest on the Notes when due, whether at maturity, by acceleration, by redemption or otherwise, according to the terms of the Notes (the “Guarantee”);
		

		
			WHEREAS, the Company desires to add the Guarantee and to amend certain other provisions of the Indenture as set forth in Section 3 hereof;
		

		
			WHEREAS, all requirements necessary to make this Third Supplemental Indenture a valid, binding and enforceable instrument in accordance with its terms have been done and performed, and the execution and delivery of this Third Supplemental Indenture has been duly authorized in all respects and, pursuant to Section 9.01 of the Indenture, the Company, the Guarantor and the Trustee are authorized to execute and deliver this Third Supplemental Indenture.
		

		
			NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Company, the Guarantor and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders as follows:
		

			
	
			
				 1.
			Capitalized Terms.  All capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.

			
	
			
				 2.
			Guarantee of Obligations. Transocean Inc. hereby irrevocably and unconditionally guarantees as primary obligor and not merely as surety to each Holder of a Note authenticated and delivered by the Trustee, and to the Trustee and its successors and assigns, the due and punctual payment of the principal of, premium, if any, and interest on the Notes, subject to any applicable grace period, whether at stated maturity, by acceleration or otherwise, and the due and punctual performance of all other payment obligations of the Company, to the Holders or the Trustee under the Indenture in accordance with the terms hereof and thereof. The Guarantor hereby agrees that its obligations hereunder shall be primary, absolute, a guarantee of prompt payment and performance and not a guarantee of collection, unconditional, irrespective of the validity or enforceability of the Notes or the obligations of the Company under the Indenture, the absence of any action to enforce the same, the recovery of any judgment against the Company or any other obligor with respect to the Indenture or the Notes, any action to enforce the same or any other circumstances (other than complete performance) which might otherwise constitute a legal or equitable discharge or defense of a guarantor. Failing payment when due of any amount so guaranteed or any performance so guaranteed for whatever reason, the Guarantor will be obligated to pay the same immediately.  The Guarantor hereby waives diligence, presentment, demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest, notice and all demands whatsoever. The Guarantee shall be a senior obligation of the Guarantor. Each payment to be made by the Guarantor in respect of its Guarantee shall be made without set-off, counterclaim, reduction or diminution of any kind or nature (except as required by applicable law). The Guarantor covenants that this Guarantee will not be discharged except by complete performance of the payment obligations contained in the Indenture, the Notes and in this Guarantee.

		
			The Guarantor shall be subrogated to all rights of the registered owners of the Notes in respect of any amounts paid by the Guarantor pursuant to the provisions of this Guarantee; provided, however, that the Guarantor shall be entitled to enforce, or to receive any payments arising out of or based upon, such right of subrogation only after the principal of, premium, if any, and interest on the Notes and all other amounts owed to the registered owners of the Notes hereunder have been paid in full.
		

		
			

		 

		

			2

		

		

			 

		

		

		
			This Guarantee shall continue to be effective or reinstated, as the case may be, if at any time any payment of the principal of, premium, if any, or interest on the Notes or any other amounts owed to the registered owners of the Notes hereunder or thereunder is rescinded or must otherwise be returned by such registered owners upon the insolvency, bankruptcy or reorganization of the Guarantor, the Company or otherwise, all as though such payment had not been made.  
		

			
	
			
				 3.
			Indenture Amendments.  Pursuant to Section 9.01 of the Indenture, the following Sections of the Indenture are hereby amended, including by deleting stricken text (indicated textually in the same manner as the following example: stricken text) and by adding double-underlined text (indicated textually in the same manner as the following example: double-underlined text), as follows:

		
			Section 1.01 is amended by adding the following definition:
		

		
			 
		

		
			“Third Supplemental Indenture” means the third supplemental indenture to this Indenture, dated as of July 29, 2019, among the Company, the Trustee and Transocean Inc., as guarantor.
		

		
			 
		

		
			Section 4.03 is amended by adding a new clause (c) as follows:
		

		
			(c)For so long as any Securities remain outstanding, the Company will post on the website of Transocean Ltd. at www.deepwater.com or otherwise publicly disclose (as such term is defined in Regulation FD promulgated by the SEC under the Exchange Act) by June 30 of each fiscal year certain unaudited summarized consolidated financial information of the Company substantially in the form of Exhibit A hereto;  provided that such unaudited summarized consolidated financial information of the Company for the fiscal year ended December 31, 2018, shall be so posted or otherwise publicly disclosed no later than five Business Days after the date of the Third Supplemental Indenture.
		

		
			Section 10.02 is amended by adding the following notice information for the Guarantor:
		

		
			If to the Guarantor:
		

		
			 
		

		
			Transocean Inc.
		

		
			36c Dr. Roy’s Drive, 4th Floor
		

		
			P.O. Box 10342
		

		
			George Town, Grand Cayman
		

		
			Cayman Islands
		

		
			 
		

			
	
			
				 4.
			Integral Part.   This Third Supplemental Indenture constitutes an integral part of the Indenture.

			
	
			
				 5.
			Notes.  Each Note, with effect on and from the date hereof, shall be deemed supplemented, modified and amended in such manner as necessary to make the terms of such Note consistent with the terms of the Indenture, as amended by this Third Supplemental Indenture and giving effect to the Guarantee set forth in Section 2 hereof and the amendments set forth in Section 3 hereof.

			
	
			
				 6.
			Ratification and Effect.

			
	
			
				 (a)
			Except as hereby expressly amended, the Indenture and the Notes are in all respects ratified and confirmed and all the terms, provisions and conditions thereof shall be and remain in full force and effect.

			
	
			
				 (b)
			Upon and after the execution of this Third Supplemental Indenture, each reference to the Indenture or the Notes in the Indenture or the Notes shall mean and be a reference to the Indenture or the Notes 

		 

		

			3

		

		

			 

		

	as modified hereby after giving effect to the Guarantee set forth in Section 2 hereof and the amendments set forth in Section 3 hereof. The Trustee is not responsible for the validity or sufficiency of this Third Supplemental Indenture or for the recitals contained herein.

			
	
			
				 7.
			NEW YORK LAW TO GOVERN.  THIS THIRD SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

			
	
			
				 8.
			Counterparts.  The parties may sign any number of copies of this Third Supplemental Indenture.  Each signed copy shall be an original, but all of them together represent the same agreement.

			
	
			
				 9.
			Effect of Headings.  The Section headings herein are for convenience only and shall not affect the construction hereof.

		
			

		 

		

			4

		

		

			 

		

IN WITNESS WHEREOF, the parties hereto have caused this Third Supplemental Indenture to be duly executed and attested, all as of the date first above written.
		

		
			Dated: July 29, 2019
		

		
			Global Marine Inc.
		

		
			By:/s/ R. Thaddeus Vayda
		

		
			Name: R. Thaddeus Vayda
		

		
			Title: Vice President and Treasurer
		

		
			 
		

		
			Transocean Inc.
		

		
			By:/s/ Colin Berryman
		

		
			Name: Colin Berryman
		

		
			Title: Director and Vice President, Asset Management
		

		
			 
		

		
			WILMINGTON TRUST COMPANY, as Trustee
		

		
			By:/s/ Peter Finkel
		

		
			Name: Peter Finkel
		

		
			Title: Authorized Signatory
		

		
			
		

		
			

		 

		

			5

		

		

			 

		

		

		
			Exhibit A
		

		
			GLOBAL MARINE INC. AND SUBSIDIARIES
UNAUDITED SUMMARIZED CONSOLIDATED FINANCIAL INFORMATION
		

		
			Global Marine Inc. (“Global Marine”), a Delaware holding company, is a wholly owned indirect subsidiary of Transocean Ltd. (“Transocean”) and issuer of the 7.00% Notes due 2028.  Global Marine, through one of its subsidiaries, provides procurement and storage services to Transocean’s other subsidiaries.  In November 2018, one of Global Marine’s subsidiaries sold for scrap value the ultra‐deepwater drillship C.R. Luigs, a rig that was stacked in June 2015.  Unaudited summarized consolidated financial information for Global Marine Inc. and its subsidiaries was as follows (in millions): 
		

		
			 
		

			
					
						 

					
					
						Years ended December 31,

					
					
						 

				
	
					
						 

					
					
						2018

					
					
						 

					
					
						 

					
					
						 

					
					
						2017

					
					
						 

				
	
					
						Statement of operations information

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Operating revenues from affiliates

					
					
						$

					
17
					
					
						 

					
					
						 

					
					
						 

					
					
						$

					
50
					
					
						 

				
	
					
						Operating loss

					
					
						 

					
(530
					
					
						)

					
					
						 

					
					
						 

					
					
						 

					
(27
					
					
						)

				
	
					
						Net income (loss)

					
					
						 

					
(412
					
					
						)

					
					
						 

					
					
						 

					
					
						 

					
89
					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						December 31,

					
					
						 

				
	
					
						 

					
					
						2018

					
					
						 

					
					
						 

					
					
						 

					
					
						2017

					
					
						 

				
	
					
						Balance sheet information 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Current assets

					
					
						$

					
58
					
					
						 

					
					
						 

					
					
						 

					
					
						$

					
79
					
					
						 

				
	
					
						Receivables from affiliates

					
					
						 

					
2,128
					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
2,266
					
					
						 

				
	
					
						Property and equipment, net

					
					
						 

					
116
					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
553
					
					
						 

				
	
					
						Other assets

					
					
						 

					
98
					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
137
					
					
						 

				
	
					
						Current liabilities

					
					
						 

					
47
					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
45
					
					
						 

				
	
					
						Payables to affiliates

					
					
						 

					
217
					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
301
					
					
						 

				
	
					
						Long-term debt

					
					
						 

					
306
					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
307
					
					
						 

				
	
					
						Other long-term liabilities

					
					
						 

					
2
					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
142
					
					
						 

				
	
					
						Equity

					
					
						 

					
1,828
					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
2,240
					
					
						 

				

		
			 
		

		
			 
		

			
					
						 

				
	
					
						     The accompanying unaudited summarized consolidated financial information for Global Marine Inc. and its subsidiaries has been derived from Transocean’s accounting records and has not been subject to the audit or review procedures of independent auditors.  Such unaudited financial information is not prepared in accordance with accounting principles generally accepted in the United States, as it omits certain required adjustments, accompanying financial statements, and substantially all required disclosures.  If such omissions were included with the unaudited summarized consolidated financial information, they might influence the user’s conclusions about the company’s financial position, results of operations, and cash flows.  Accordingly, the accompanying unaudited summarized consolidated financial information is not intended for those who are not informed about such matters.  The unaudited summarized consolidated financial information is intended for informational purposes only and does not constitute, and should not be construed as, an offer to sell or issue securities or otherwise constitute an invitation or inducement to any person to purchase, underwrite, subscribe to or otherwise acquire securities in Global Marine Inc. or any of its subsidiaries

				

		
			 
		

		 

		

			6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00298-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00298-of-00352.parquet"}]]