Document:

Exhibit 10.15

Transocean Partners LLC

Summary of Non-Employee Director Compensation

Effective Date:

On May 4, 2015, the Board of Directors (the "Board") of Transocean Partners LLC (the "Company") approved the compensation described herein to be paid to each non-employee director of the Board (a "Non-Employee Director") for his or her service on the Board for the term commencing with the 2015 annual meeting of the Company's unitholders and ending on the day immediately prior to the 2016 annual meeting of the Company's unitholders.

Equity Compensation:

Each Non-Employee Director received phantom units with a value equal to $75,000. The number of phantom units granted was determined by dividing $75,000 by the average of the high and low sales prices of the Company's common units over the 10-day period ending May 1, as reported by The New York Stock Exchange. The phantom units vest on the earlier of May 5, 2016 or the next regular annual meeting of the Company's unitholders following May 4, 2015, subject to the Non-Employee Director's continued membership on the Board as of such date.  Notwithstanding the foregoing, the phantom units will become fully vested upon the earlier occurrence of a change in control of the Company or the Non-Employee Directors' termination of service by reason of his or her death or disability.

Cash Compensation:

 

	
 

Annual Cash Retainer:

	
$75,000

	
 

Additional Annual Retainers – Committee Chairpersons:

 

	 
	
Audit Committee

	
$15,000

	
Compensation Committee

	
$10,000

	
Conflicts Committee

	
$15,000

Travel Expense Reimbursement:

Each Non-Employee Director travelling from Asia or the Americas to attend Board and/or Board committee meetings shall receive a per diem compensation rate of $2,500 per travel event.Exhibit 10.16

 

 

 

SECONDMENT AGREEMENT FIRST AMENDMENT

This Secondment Agreement First Amendment (the "First Amendment") is entered into this June 30, 2015 by and among GlobalSantaFe Offshore Services Inc., a Cayman Islands exempted company ("GSFOS"), Transocean International Resources, Limited, a British Virgin Islands company ("TIRL"), Transocean Deepwater Inc., a Delaware corporation ("TDI"), Transocean Offshore Deepwater Drilling Inc., a Delaware corporation ("TODDI" and together with GSFOS, TIRL and TDI, "Transocean"), and Transocean Partners LLC, a Marshall Islands limited liability company ("TPL"), Triton RIGP DCL Holdco Limited, a England & Wales private limited company ("TPDCLL"), Triton RIGP DD3 Holdco Limited, a England & Wales private limited company ("TPDD3L"), Triton RIGP DIN Holdco Limited, a England & Wales private limited company ("TPDINL"), Transocean RIGP DCL LLC, a Delaware corporation ("TPDCL"), Transocean RIGP DD3 LLC, a Delaware corporation ("TPDD3") and Transocean RIGP DIN LLC, a Delaware corporation ("TPDIN" and together with TPL, TPDCLL, TPDD3L, TPDINL, TPDCL and TPDD3, the "Company").

WHEREAS, GSFOS, TIRL, TDI and TPL entered into that certain Secondment Agreement (the "Agreement") dated August 5, 2014;

WHEREAS, Section 1.1(c) of the Agreement contemplates that Exhibit A to the Agreement may be adjusted at the mutual agreement of Transocean and the Company, or the designee of each, from time to time;

WHEREAS, the parties wish to add Alan Quintero as seconded employee to Exhibit A of the Agreement effective as of November 4, 2014;

WHEREAS, the parties wish to second Alan Quintero from TODDI to TPDCL, TPDD3 and TPDIN effective as of November 4, 2014;

WHEREAS, the parties wish to add TODDI, TPDCL, TPDD3 and TPDIN as parties to the Agreement effective as of November 4, 2014;

WHEREAS, the parties wish to confirm that Steve McFadin has been seconded from TDI to TPDCLL, TPDD3L and TPDINL and Dan Reudelhuber has been seconded from GSFOS to TPDCLL, TPDD3L and TPDINL under the Agreement since August 5, 2014;

IT IS AGREED as follows, in consideration of the provisions and mutual covenants herein contained and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged:

NOW, THEREFORE, it is agreed as follows:

	
1.

	
New Seconded Employee.  The parties hereby agree to add Alan Quintero to Exhibit A of the Agreement and second Alan Quintero from TODDI to TPDCL, TPDD3 and TPDIN effective as of November 4, 2014.

	
2.

	
New Parties.  The parties hereby agree to add TODDI, TPDCL, TPDD3 and TPDIN as parties to the Agreement effective as of November 4, 2014.

	
3.

	
Additional Parties.  The parties hereby agree to add TPDCLL, TPDD3L and TPDINL as parties to the Agreement effective as of August 5, 2014.

	
4.

	
No Other Amendments.  All other terms and conditions of the Agreement shall remain in full force and effect, and such other provisions shall apply to this First Amendment.  The Agreement, as amended by this First Amendment, shall be deemed a single instrument and shall set forth the entire agreement between the parties.

This document may be executed on any number of counterparts, each an original, and all taken as a whole shall constitute one and the same instrument.

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

IN WITNESS whereof the parties hereto have executed this First Amendment the day and year first above written.

Transocean Partners LLC

By /s/ Kathleen McAllister                                   

     Name: Kathleen McAllister                                                                                                                        

     Title: President and Chief Executive Officer    

GlobalSantaFe Offshore Services Inc.

By /s/ Tracey Walker                                                                                                                                      

     Name: Tracey Walker                                    

     Title: Vice President and Assistant Treasurer  

Transocean International Resources, Limited

By /s/ Tracey Walker                                                                                                                                      

     Name: Tracey Walker                                    

     Title: Vice President and Assistant Treasurer  

Transocean Deepwater Inc.

By /s/ David Tonnel                                                                                                                                         

     Name: David Tonnel                                                                                                                                   

     Title: Director                                                                                                                                             

Transocean Offshore Deepwater Drilling Inc.

By /s/ David Tonnel                                                                                                                                         

     Name: David Tonnel                                                                                                                                   

     Title: Director                                                                                                                                             

Transocean RIGP DIN LLC

By /s/ David Tonnel                                                                                                                                         

     Name: David Tonnel                                                                                                                                   

     Title: Manager                                                                                                                                            

Transocean RIGP DCL LLC

By /s/ David Tonnel                                             

     Name: David Tonnel                                                                                                                                   

     Title: Manager                                                                                                                                           

Transocean RIGP DD3 LLC

By /s/ David Tonnel                                                                                                                                         

     Name: David Tonnel                                                                                                                                   

     Title: Manager                                                                                                                                            

Triton RIGP DCL Holdco Limited

By /s/ C. Stephen McFadin                                 

     Name: C. Stephen McFadin                                                                                                                       

     Title: Director                                                                                                                                             

Triton RIGP DD3 Holdco Limited

By /s/ C. Stephen McFadin                                 

     Name: C. Stephen McFadin                                                                                                                      

     Title: Director                                                                                                                                             

Triton RIGP DIN Holdco Limited

By /s/ C. Stephen McFadin                                 

     Name: C. Stephen McFadin                                                                                                                       

     Title: Director

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