Document:

Filed by Bowne Pure Compliance

Exhibit
10.36

NOBLE CORPORATION

NONQUALIFIED STOCK OPTION AGREEMENT

THIS AGREEMENT, made as of the
 _____ 
day of
 _____, by and between NOBLE CORPORATION, a
Cayman Islands exempted company limited by shares (the “Company”), and «First_Name» «MI»
«Last_Name» (“Employee”);

W I T N E S S E T H:

WHEREAS, the committee (the “Committee”) acting under the Company’s 1991 Stock Option and
Restricted Stock Plan, as amended (the “Plan”), has determined that it is desirable to grant a
nonqualified stock option under the Plan to Employee, who is currently employed by the Company or
one of its Affiliates;

NOW, THEREFORE, it is agreed as follows:

1. Grant of Option, Option Period and Terms of Exercise of Option. The Company hereby
grants to Employee the option to purchase, as hereinafter set forth, «Options» ordinary shares, par
value U.S. $0.10 per share, of the Company (“Shares”) at
the price of $              per share, in whole at
any time or in part from time to time, for a period commencing one year from the date of this
Agreement and terminating on the first to occur of (i) the expiration of ten years from the date of
this Agreement and (ii) the date Employee ceases for any reason to be employed by at least one of
the employers in the group of employers consisting of the Company and its Affiliates (a
“termination of employment”); provided that the number of Shares purchasable hereunder in any
period or periods of time during which the option evidenced hereby is exercisable shall be limited
as follows:

	 	(a)	 	«M_1st_Year» Shares are purchasable, in whole at any time or in part from time
to time, commencing one year from the date of this Agreement,

	 	(b)	 	an additional «M_2nd_Year» Shares are purchasable, in whole at any time or in
part from time to time, commencing two years from the date of this Agreement, and

	 	(c)	 	an additional «M_3rd_Year» Shares are purchasable, in whole at any time or in
part from time to time, commencing three years from the date of this Agreement;

provided further that if a termination of employment occurs after the date upon which the option
first becomes exercisable and before the date that is ten years from the date hereof for any reason
other than Employee’s death, Disability or Retirement, then the option may be exercised, to the
extent that Employee was entitled to exercise it at the date of such termination of employment, at
any time within
six months after such termination of employment but not after the expiration of the ten-year
period, except that, in the event of a termination of employment of Employee on account of fraud,
dishonesty or other acts detrimental to the interests of the Company or one or more of its
Affiliates, the option shall thereafter be null and void for all purposes; and provided further
that if a termination of employment occurs after the date upon which the option first becomes
exercisable and before the date that is ten years from the date hereof by reason of Employee’s
death, Disability or Retirement, then the option, including any then unvested Shares all of which
shall be automatically accelerated, may be exercised at any time within five years after such
termination of employment but not after the expiration of the ten-year period.

 

 

 

Transfer of employment without interruption of service between or among the Company and any of
its Affiliates shall not be considered a termination of employment. Notwithstanding anything
contained in this Agreement to the contrary, no fractional Shares may be purchased upon exercise of
the option.

2. Agreement of Employee Regarding Employment. Employee hereby agrees to serve the
Company or Affiliate by performing the duties now assigned to Employee or such other duties as may
hereafter be assigned to Employee, at Employee’s present salary, with such increases and bonuses,
if any, as the Company or Affiliate may authorize, for a period of at least one year from the date
hereof. There is no obligation on the part of the Company or Affiliate to continue Employee’s
employment for said one-year period or for any period, and nothing in this Agreement shall in any
way interfere with the right of the Company or any Affiliate to terminate the employment of
Employee at any time, with or without cause.

3. Requirement of Employment. Except as provided in Paragraph 1 hereof, the option
may not be exercised unless Employee is, at the time of exercise, an employee of the Company or an
Affiliate.

4. Exercise of Option.

(a) The option may be exercised by written notice signed by Employee and delivered to the
Secretary of the Company at the address set forth opposite the Company’s name on the signature page
of this Agreement. Such notice shall state the number of Shares as to which the option is
exercised and shall be accompanied by the full amount of the purchase price of such Shares. The
purchase price may be paid in cash or by certified check or cashier’s check or, if permitted by the
Committee, in whole or in part, by the surrender of issued and outstanding Shares (including an
actual or deemed multiple series of exchanges of such Shares) which shall be credited against the
purchase price at the Fair Market Value of the Shares surrendered on the date of exercise of the
option. Any such notice shall be deemed delivered on the date on which it is personally delivered
to the Secretary of the Company at the address specified above in this Paragraph 4(a) or, if sent
by mail, on the earlier of (i) the date on which it is received by the Secretary of the Company at
such address or (ii) the third business day after it is
deposited in the United States mail, certified or registered, postage prepaid, addressed to the
Secretary of the Company at such address.

(b) Promptly after demand by the Company, and at its direction, Employee shall pay to the
Company or the appropriate Affiliate an amount equal to the applicable withholding taxes due in
connection with exercise of the option. Such withholding taxes may be paid in cash or by certified
check or cashier’s check or, subject to the further provisions of this Paragraph 4(b), in whole or
in part, by having the Company withhold from the Shares otherwise issuable upon exercise of the
option a number of Shares having a value equal to the amount of such withholding taxes or by
surrendering to the Company or the appropriate Affiliate a number of issued and outstanding Shares
having a value equal to the amount of such withholding taxes. The value of any Shares so withheld
by or surrendered to the Company or the appropriate Affiliate shall be based on the Fair Market
Value of such Shares on the date on which the option is exercised (in the case of a withholding of
Shares) or the date (which shall not be earlier than the date of exercise of the option) on which
the Shares are surrendered (in the case of a surrender of Shares). Employee shall pay to the
Company or the appropriate Affiliate in cash or by certified check or cashier’s check the amount,
if any, by which the amount of such withholding taxes exceeds the value of the Shares so withheld
or surrendered. Any election by Employee to have Shares withheld or to surrender Shares to pay
withholding taxes (an “Election”) must be made at or prior to the time of exercise of the option
(in the case of a withholding of Shares) or at or prior to the time of surrender of the Shares (in
the case of a surrender of Shares). All Elections shall be made in the same manner as is required
under the first sentence of Paragraph 4(a) hereof for the exercise of the option and shall be
deemed delivered in accordance with the provisions of the last sentence of that Paragraph.

 

2

 

(c) Notwithstanding anything contained in this Agreement to the contrary, to the extent
permitted by applicable law, the Committee may, in its sole and absolute discretion, selectively
approve arrangements with a brokerage firm or firms under which any such brokerage firm shall, on
behalf of Employee, make payment in full to the Company of the aggregate purchase price of the
Shares then being purchased upon exercise of the option, and the Company, pursuant to an
irrevocable notice in writing from Employee, shall make prompt delivery of one or more certificates
representing the purchased Shares to such brokerage firm. Payment in full for purposes of the
immediately preceding sentence shall mean payment of the full amount due, either in cash or by
certified check or cashier’s check. Any arrangements shall be subject to such rules and
regulations as the Committee may adopt in connection therewith.

5. Delivery of Certificates Upon Exercise of Option. Delivery of one or more
certificates representing the purchased Shares shall be made as promptly as practicable after
receipt by the Company of notice of exercise and payment in full of the purchase price and, if
required, the amount of any withholding taxes; provided, however, that the Company shall have such
time as is necessary to qualify or register such Shares under any applicable law or governmental
rule or regulation or list such Shares on any securities exchange on which the Shares are listed.

6. Adjustments. If at any time while the option is outstanding there shall be any
increase or decrease in the number of issued and outstanding Shares effected without receipt of
consideration therefor by the Company, through the declaration of a dividend in Shares or through
any recapitalization, amalgamation or merger or otherwise in which the Company is the surviving
corporation, resulting in a split-up, combination or exchange of Shares, then and in each such
event appropriate adjustment shall be made by the Company in the number of Shares and the purchase
price per Share thereof then subject to purchase pursuant to the option, to the end that the same
proportion of the issued and outstanding Shares in each such instance shall remain subject to
purchase under the option at the same aggregate purchase price. In the event of a reclassification
of the Shares or a liquidation, corporate separation (such as a spin-off or split-off) or
reorganization (including a merger, amalgamation, consolidation or sale of assets) of the Company,
not covered by the foregoing provisions of this Paragraph 6, it is agreed that the Company shall
make such adjustments, if any, as the Committee may deem appropriate in the number, purchase price
and kind of shares still subject to the option. Any adjustment pursuant to this Paragraph 6 shall
be final, conclusive and binding on Employee.

 

3

 

7. Transferability.

(a) Except as otherwise provided in Paragraph 7(b) below, the option evidenced hereby is not
transferable otherwise than by will or by the laws of descent and distribution, or the rules
thereunder, and may be exercised during the life of Employee only by Employee.

(b) Notwithstanding Paragraph 7(a), the option evidenced hereby may be transferred, in whole
or in part, by Employee (i) by gift to the Immediate Family Members (as defined in Paragraph 7(c)
below) of Employee, partnerships whose only partners are Employee or the Immediate Family Members
of Employee, limited liability companies whose only shareholders or members are Employee or the
Immediate Family Members of Employee, and trusts established solely for the benefit of Employee or
the Immediate Family Members of Employee, or (ii) to any other persons or entities in the
discretion of the Committee; provided, that any subsequent transfers of a transferred option shall
be prohibited except those in accordance with Paragraph 7(a). Following transfer, any such option
shall continue to be subject to the same terms and conditions as were applicable immediately prior
to transfer; provided, that for purposes of this Agreement, the term “Employee” (except as used in
the next succeeding sentence) shall be deemed to refer to the transferee. The events of any
termination of employment set forth in Paragraph 1 above shall continue to be applied with respect
to Employee, following which any transferred options shall be exercisable by the transferee only to
the extent, and for the periods, specified in Paragraph 1 above.

(c) “Immediate Family Members” as used in this Agreement shall have the meaning assigned
thereto under the Plan, i.e., the spouse, former spouse, children (including stepchildren) or
grandchildren of an individual.

8. Defined Terms. Unless the context clearly indicates otherwise, the capitalized
terms used (and not otherwise defined) in this Agreement shall have the meanings assigned to them
under the provisions of the Plan.

9. Plan Provisions. By execution of this Agreement, Employee agrees that the option
and the Shares to be received upon exercise of the option shall be governed by and subject to all
applicable provisions of the Plan. This Agreement is subject to the Plan, and the Plan shall
govern where there is any inconsistency between the Plan and this Agreement.

10. Construction. The option evidenced hereby is not an incentive stock option under
Section 422 of the United States Internal Revenue Code of 1986, as amended. The headings of the
paragraphs of this Agreement are inserted for convenience only and shall not constitute a part
hereof. This Agreement is governed by, and shall be construed and enforced in accordance with, the
laws of the State of Texas, without regard to the principles of conflicts of laws thereof, except
to the extent Texas law is preempted by Federal law of the United States or by the laws of the
Cayman Islands.

 

4

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above
written.

	 	 	 	 	 	 	 	 
	Address:	 	 	 	NOBLE CORPORATION	 
	 
	 	 	 	 	 	 	 
	13135 S. Dairy Ashford

	 	 	 	By:
	 	/s/ Julie J. Robertson	 
	Suite 800

	 	 	 	 	 	Name: Julie J. Robertson	 
	Sugar Land, Texas 77478

(281) 276-6100

	 	 	 	 	 	Title:   Executive Vice
President and

            Corporate Secretary	 
	 
	 	 	 	 	 	 	 
	Employee address:
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 
	 	 	 	 	   	 
	 	 	 	 	«First_Name» «MI» «Last_Name»	 
	 
	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 

 

5Filed by Bowne Pure Compliance

Exhibit
10.37

NOBLE CORPORATION

RESTRICTED STOCK AGREEMENT

THIS AGREEMENT, made as of the
 _____ 
day of
 _____, by and between NOBLE CORPORATION, a
Cayman Islands exempted company limited by shares (the “Company”), and
 _____ 
(“Director”);

W I T N E S S E T H:

WHEREAS, the Board has adopted and the members of the Company have approved and ratified the
Amended and Restated Noble Corporation 1992 Nonqualified Stock Option and Share Plan for
Non-Employee Directors (the “Plan”), which provides for the automatic award of Restricted Shares to
each Non-Employee Director of the Company; and

WHEREAS, pursuant to the Plan and subject to and upon the terms and conditions herein
provided, this Agreement evidences the award of Restricted Shares under the Plan to Director, who
currently serves as a Non-Employee Director of the Company;

NOW, THEREFORE, in consideration of the premises and mutual covenants and agreements herein
contained, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree
as follows:

1. Award. On the terms and conditions and subject to the restrictions, including forfeiture,
hereinafter set forth, the Company hereby makes to Director a Restricted Share award (the “Award”)
of an aggregate of
 _____ 
ordinary shares (the “Restricted Shares”), par value U.S. $0.10 per
share (“Ordinary Shares”), of the Company. The Award is made effective as of the date hereof (the
“Award Date”). The Restricted Shares shall be issued to Director, subject to forfeiture as herein
provided, without the payment of any cash consideration by Director. A certificate representing
the Restricted Shares shall be issued in the name of Director as of the Award Date and delivered to
Director on the Award Date or as soon thereafter as practicable. Director shall cause the
certificate representing the Restricted Shares, upon receipt thereof by Director, to be deposited,
together with stock powers and any other instrument of transfer reasonably requested by the Company
duly endorsed in blank, with the Company pursuant to an escrow agreement substantially in the form
of Exhibit A hereto (the “Escrow Agreement”). The Restricted Shares shall be delivered to Director
upon vesting or assigned and transferred to and reacquired and canceled by the Company upon
forfeiture, as hereinafter set forth, and in accordance with the terms and conditions of the Escrow
Agreement. Unless and until the Restricted Shares are delivered to Director upon vesting, the
Restricted Shares shall not be sold, assigned, transferred, discounted, exchanged, pledged or
otherwise encumbered or disposed of by Director in any manner.

 

 

 

2. Vesting/Forfeiture.

(a) Except as otherwise set forth in this Section 2 of this Agreement, the Award shall not be
fully vested immediately but shall be subject to forfeiture in accordance with the following
restricted periods:

	 	(i)	 	One-third of the awarded shares shall vest and no longer be subject to
forfeiture on the first anniversary of the Award Date (or if such date is not a
business day, the business day immediately preceding such date); and

	 	(ii)	 	One-third of the awarded shares shall vest and no longer be subject to
forfeiture on the second anniversary of the Award Date (or if such date is not a
business day, the business day immediately preceding such date); and

	 	(iii)	 	One-third of the awarded shares shall vest and no longer be subject to
forfeiture on the third anniversary of the Award Date (or if such date is not a
business day, the business day immediately preceding such date).

(b) Notwithstanding the foregoing, the Board shall have the authority to cancel all or any
portion of any outstanding restrictions prior to the expiration of such restrictions with respect
to any or all of the Restricted Shares as the Board may deem appropriate.

(c) The Restricted Shares shall vest in Director in accordance with the restricted periods set
forth above, and Director shall be entitled to have delivered to him or her a new certificate,
without the legend referenced in Section 8 of this Agreement, for the number of such vested
Ordinary Shares.

(d) If Director ceases to be a director of the Company on account of Director’s (a) fraud or
intentional misrepresentation, or (b) embezzlement, misappropriation or conversion of assets or
opportunities of the Company or any direct or indirect majority-owned subsidiary of the Company,
then any Restricted Shares remaining subject to restrictions shall thereupon be forfeited by
Director and transferred to, and reacquired by, the Company or an Affiliate of the Company at no
cost to the Company or such Affiliate as of the date Director ceases to be a director of the
Company.

(e) If Director ceases to be a director of the Company, for any reason, prior to the
satisfaction of the terms and conditions of this Agreement, any Restricted Shares remaining subject
to restrictions shall thereupon be forfeited by Director and transferred to, and reacquired by, the
Company or an Affiliate of the Company at no cost to the Company or such Affiliate; provided,
however, if the cessation is due to Director’s death, retirement or disability, the Board may, in
its sole and absolute discretion, deem that the terms and conditions have been met for all or part
of such remaining portion.

(f) In the event of any forfeiture of Restricted Shares, Director, or in the event of his or
her death, his or her personal representative, shall forthwith deliver to the Secretary of the
Company the certificates for the Restricted Shares remaining subject to such restrictions,
accompanied by such instruments of transfer, if any, as may reasonably be required by the Secretary
of the Company.

 

2

 

3. Escrow Agreement. In accordance with Section 4.02(d) of the Plan, the Company has approved
the form of the Escrow Agreement and prescribed its use hereunder in order to enforce the
restrictions, terms and conditions applicable to the Restricted Shares.

4. Rights as Member. Upon the issuance of a certificate or certificates representing the
Restricted Shares to Director, Director shall become the owner thereof for all purposes and shall
have all rights as a member of the Company, including, without limitation, voting rights and the
right to receive dividends and distributions, with respect to the Restricted Shares, subject to the
forfeiture provisions hereof. If the Company shall pay or declare a dividend or make a
distribution of any kind, whether due to a reorganization, recapitalization or otherwise, with
respect to the Ordinary Shares constituting the Restricted Shares, then the Company shall pay or
make such dividend or other distribution with respect to the Restricted Shares.

5. Agreements Regarding Taxes.

Director may elect, within 30 days of the Award Date and on notice to the Company, to realize
income for United States federal income tax purposes equal to the Fair Market Value of the
Restricted Shares on the date of award, which shall be the Award Date

6. Non-Assignability. The Award is not assignable or transferable by Director.

7. Capital Adjustments. If any of the following events shall occur at any time while the
Award is outstanding and any Restricted Shares have not either become vested or been forfeited, the
following adjustments shall be made in the number of Ordinary Shares then constituting the
Restricted Shares under the Award, as determined appropriate by the Board:

(a) Share Dividend or Split; Combination. If the Company pays a dividend on its outstanding
Ordinary Shares in Ordinary Shares or subdivides its outstanding Ordinary Shares into a greater
number of Ordinary Shares, the number of Ordinary Shares then subject to the Award shall be
proportionately increased. Conversely, if the outstanding Ordinary Shares are combined into a
smaller number of Ordinary Shares, the number of Ordinary Shares then subject to the Award shall be
proportionately reduced. An adjustment made pursuant to this Section 7(a) shall become effective
as of the record date in the case of a dividend and shall become effective immediately after the
effective date in the case of a subdivision or combination.

(b) Recapitalization or Reorganization. In case of any recapitalization or reclassification
of the Ordinary Shares, or any merger, amalgamation or consolidation of the Company with or into
one or more other corporations, or any sale of all or substantially all the assets of the Company,
as a result of which the holders of the Ordinary Shares receive other stock, securities or property
in lieu of or in addition to, but on account of, their Ordinary Shares, the Company shall make or
cause to be made lawful and adequate provision whereby, upon the vesting of the Award after the
record date for the determination of the holders of Ordinary Shares entitled to receive such other
stock, securities or property, Director shall receive, in addition to or in lieu of the Ordinary
Shares with respect to which the Award has vested, the shares of stock,
securities or other property which would have been allocable to such Ordinary Shares had the
Award vested immediately prior to such record date. The subdivision or combination of Ordinary
Shares at any time outstanding into a greater or smaller number of Ordinary Shares shall not be
deemed to be a recapitalization or reclassification of the Ordinary Shares for the purposes of this
Section 7(b).

 

3

 

8. Legend. Each certificate representing Restricted Shares shall conspicuously set forth on
the face or back thereof, in addition to any legends required by applicable law or other agreement,
a legend in substantially the following form:

THE ORDINARY SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ISSUED PURSUANT TO THE
TERMS OF THE AMENDED AND RESTATED NOBLE CORPORATION 1992 NONQUALIFIED STOCK OPTION
AND SHARE PLAN FOR NON-EMPLOYEE DIRECTORS AND MAY NOT BE SOLD, ASSIGNED,
TRANSFERRED, DISCOUNTED, EXCHANGED, PLEDGED OR OTHERWISE ENCUMBERED OR DISPOSED OF
IN ANY MANNER EXCEPT AS SET FORTH IN THE TERMS OF THE AGREEMENT EMBODYING THE AWARD
OF SUCH SHARES DATED _____, 200 _____. A COPY OF SUCH PLAN AND AGREEMENT IS
ON FILE IN THE OFFICES OF THE CORPORATION.

9. Defined Terms; Plan Provisions. Unless the context clearly indicates otherwise, the
capitalized terms used (and not otherwise defined) in this Agreement shall have the meanings
assigned to them under the provisions of the Plan. By execution of this Agreement, Director agrees
that the Award and the Restricted Shares shall be governed by and subject to all applicable
provisions of the Plan. This Agreement is subject to the Plan, and the Plan shall govern where
there is any inconsistency between the Plan and this Agreement.

10. Governing Law. This Agreement shall be governed by and construed and enforced in
accordance with the laws of the State of Texas, without regard to the principles of conflicts of
laws thereof, except to the extent Texas law is preempted by Federal law of the United States or by
the laws of the Cayman Islands.

11. Binding Effect. This Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective heirs, personal representatives, successors and permitted
assigns.

12. Entire Agreement; Amendment. This Agreement, together with any Exhibit and any other
writings referred to herein or delivered pursuant hereto, constitutes the entire agreement between
the parties hereto with respect to the subject matter hereof and supersedes all prior agreements
and understandings, whether written or oral, between the parties with respect to the subject matter
hereof. To the fullest extent provided by applicable law, this Agreement may be amended, modified
and supplemented by mutual consent of the parties hereto at any time, with respect to any of the
terms contained herein, in such manner as may be agreed upon in writing by such parties.

 

4

 

13. Notices. All notices and other communications hereunder shall be in writing and shall be
deemed given if directed in the manner specified below, to the parties at the following addresses
and numbers:

(a) If to the Company, when delivered by hand, confirmed fax or mail (registered or certified
mail with postage prepaid) to:

Noble Corporation

13135 S. Dairy Ashford, Suite 800

Sugar Land, Texas 77478

Attention: Chief Executive Officer

Fax: 281-491-2398

With a copy to:

Noble Corporation

13135 S. Dairy Ashford, Suite 800

Sugar Land, Texas 77478

Attention: Corporate Secretary

Fax: 281-276-6316

(b) If to Director, when delivered by hand, confirmed fax or mail (registered or certified
mail with postage prepaid) to:

The address and number, if any, set forth opposite

Director’s signature below

Either party may at any time give to the other notice in writing of any change of address of the
party giving such notice and from and after the giving of such notice the address or addresses
therein specified will be deemed to be the address of such party for the purposes of giving notice
hereunder.

14. Severability. If any provision of this Agreement is held to be unenforceable, this
Agreement shall be considered divisible and such provision shall be deemed inoperative to the
extent it is deemed unenforceable, and in all other respects this Agreement shall remain in full
force and effect; provided, however, that if any such provision may be made enforceable by
limitation thereof, then such provision shall be deemed to be so limited and shall be enforceable
to the maximum extent permitted by applicable law.

15. Counterparts. This Agreement may be executed by the parties hereto in any number of
counterparts, each of which shall be deemed an original, but all of which shall constitute one and
the same agreement. Each counterpart may consist of a number of copies hereof each signed by less
than all, but together signed by all, the parties hereto.

 

5

 

16. Descriptive Headings. The descriptive headings herein are inserted for convenience of
reference only, do not constitute a part of this Agreement, and shall not affect in any manner the
meaning or interpretation of this Agreement.

17. Gender. Pronouns in masculine, feminine and neuter genders shall be construed to include
any other gender, and words in the singular form shall be construed to include the plural and vice
versa, unless the context otherwise requires.

18. References. The words “this Agreement,” “herein,” “hereof,” “hereby,” “hereunder” and
words of similar import refer to this Agreement as a whole and not to any particular subdivision
unless expressly so limited. Whenever the words “include,” “includes” and “including” are used in
this Agreement, such words shall be deemed to be followed by the words “without limitation.”

IN WITNESS WHEREOF, the Company and Director have executed this Agreement as of the date first
above written.

	 	 	 	 	 
	 	NOBLE CORPORATION

 	 
	 	By:  	/s/ David W. Williams
 	 
	 	 	Name:  	David W. Williams 	 
	 	 	Title:  	Chairman and Chief Executive Officer 	 

	 	 	 	 	 	 	 	 	 
	Address and fax number, if any:	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name of Director: 	 	 
	 

	 	 	 	 	 	 	 
 	 
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	Fax:
	 	 	 	 	 	 	 	 
	 

	 	 

	 	 	 	 	 	 

 

6

 

EXHIBIT A

NOBLE CORPORATION

ESCROW AGREEMENT

FOR RESTRICTED STOCK AWARD

THIS ESCROW AGREEMENT, made as of the
 _____ 
day of
 _____, by and among Noble
Corporation, a Cayman Islands exempted company limited by shares (the “Company”),
 _____ 

(“Director”), and the Company, as escrow agent (the “Escrow Agent”), pursuant to a Restricted Stock
Agreement dated of even date herewith (the “Restricted Stock Agreement”) between the Company and
Director;

W I T N E S S E T H:

WHEREAS, the Company and Director desire the Escrow Agent to serve as Escrow Agent for the
Deposit Shares (as hereinafter defined) as contemplated by Section 1 of the Restricted Stock
Agreement, and the Escrow Agent is willing to serve as Escrow Agent pursuant to the provisions
hereof; and

WHEREAS, the Restricted Stock Agreement requires that an Escrow Agreement in the form hereof
be entered into by the parties hereto;

NOW, THEREFORE, in consideration of the premises and mutual covenants and agreements herein
contained, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree
as follows:

1. Defined Terms. Each capitalized term used herein and not otherwise defined shall have the
meaning accorded thereto in the Restricted Stock Agreement.

2. Deposit of Shares. In order to enforce the restrictions, terms and conditions, including
forfeiture, applicable to the Award of Restricted Shares to Director pursuant to the Restricted
Stock Agreement, concurrent with the signing of the Restricted Stock Agreement, Director has
deposited or caused to be deposited with the Escrow Agent the Restricted Shares, together with
stock powers duly endorsed in blank by Director. The shares so deposited with the Escrow Agent and
such stock powers are referred to herein collectively as the “Deposit Shares.” The Deposit Shares
shall be registered in the name of Director.

3. Term. The Deposit Shares shall be held by the Escrow Agent in accordance with the terms of
this Agreement from the date of deposit until the Deposit Shares have been disposed of by Escrow
Agent in accordance with this Agreement.

 

A-1

 

4. Disposition of the Deposit Shares.

(a) Upon receipt by the Escrow Agent at any time of joint written instructions from the Chief
Executive Officer of the Company and Director, the Escrow Agent will deliver the Deposit Shares in
accordance with such instructions.

(b) Upon receipt by Escrow Agent of the Company’s notice that (i) a number of the Restricted
Shares specified in such notice has been forfeited by Director (the “Forfeited Shares”) and the
Company is entitled to delivery of the Forfeited Shares pursuant to the Restricted Stock Agreement
and (ii) the certificate representing the Deposit Shares, together with the stock powers duly
endorsed in blank by Director, should be delivered to the Company, Escrow Agent shall promptly
deliver the certificate representing the Deposit Shares and such stock powers to the Company. If
the number of the Forfeited Shares is less than the number of the Deposit Shares then held in
escrow hereunder, then the Company shall cause a new certificate to be issued for the remaining
number of Deposit Shares represented by the certificate delivered to the Company and returned to
the Escrow Agent to be held pursuant to the terms of this Escrow Agreement.

(c) Upon receipt by Escrow Agent of the Company’s notice that (i) a number of the Restricted
Shares specified in such notice has become vested in Director (the “Vested Shares”) and Director is
entitled to delivery of the Vested Shares pursuant to the Restricted Stock Agreement and (ii) the
certificate representing the Deposit Shares should be delivered to Director, Escrow Agent shall
promptly deliver the certificate representing the Vested Shares to Director. If the number of the
Vested Shares is less than the number of the Deposit Shares then held in escrow hereunder, then
Director shall cause a new certificate to be issued for the remaining number of Deposit Shares
represented by the certificate delivered to Director and returned to the Escrow Agent to be held
pursuant to the terms of this Escrow Agreement.

(d) The Escrow Agent shall not be required to inquire or make any investigation beyond the
bounds of this Escrow Agreement in delivering all or any of the Deposit Shares.

5. Certain Agreements of the Company and Director.

(a) The Company agrees with Director to give the Escrow Agent prompt notice in accordance with
Section 4(c) of this Escrow Agreement in the event of vesting of all or any of the Deposit Shares
pursuant to the Restricted Stock Agreement.

(b) Director acknowledges (i) that the disposition of the Deposit Shares pursuant to Section
4(b) or 4(c) of this Escrow Agreement may be made upon the unilateral action of the Company, (ii)
that even in the event Director disagrees with the Company’s notice or makes objection to the
Escrow Agent with respect thereto, the Escrow Agent shall nevertheless be required to dispose of
the Deposit Shares in accordance with the Company’s notice and (iii) that any claim or remedy with
respect to any dispute Director has concerning the delivery of all or any of the Deposit Shares to
the Company pursuant to this Escrow Agreement or otherwise concerning the Restricted Stock
Agreement shall be raised only against the Company so long as the Escrow Agent acts in good faith.

 

A-2

 

(c) The Company and Director hereby jointly and severally agree to indemnify, defend and hold
harmless the Escrow Agent from and against any and all losses, damages, liabilities and expenses
that may be incurred by the Escrow Agent arising out of or in connection with its performance of
its duties as Escrow Agent hereunder in accordance with the terms hereof, including any legal costs
and expenses of defending itself against any claims or liabilities, including, without limitation,
its good faith disbursement of Deposit Shares pursuant to this Escrow Agreement.

6. Escrow Agent.

(a) The Escrow Agent shall not be required to use its own funds in the performance of any of
its duties, or in the exercise of any of its rights or powers, with respect to the Deposit Shares.

(b) The Escrow Agent may confer with its counsel with respect to any question relating to its
duties or responsibilities hereunder and it shall not be liable for any act done or omitted by it
in good faith on advice of counsel. It shall be protected in acting upon any certificate,
statement, request, consent, agreement or other instrument whatsoever (not only as to its due
execution or the validity and effectiveness of its provisions, but also as to the truth and
acceptability of any information therein contained) which it shall in good faith believe to be
valid and to have been signed or presented by a proper person or persons. The Escrow Agent shall
not be bound by any notice of a claim, or demand with respect thereto, or any waiver, modification,
amendment, termination or rescission of this Escrow Agreement, unless in writing received by it,
and if the duties of the Escrow Agent herein are affected, unless it shall have given its prior
written consent thereto. The Escrow Agent shall not be liable or responsible for anything done or
omitted to be done by it in good faith, it being understood that its liability hereunder shall be
limited solely to gross negligence or willful misconduct on its part.

7. Notices. All notices and other communications hereunder shall be in writing and shall be
deemed given if directed in the manner specified below, to the parties at the following addresses
and numbers:

(a) If to the Company, when delivered by hand, confirmed fax or mail (registered or certified
mail with postage prepaid) to:

Noble Corporation

13135 S. Dairy Ashford, Suite 800

Sugar Land, Texas 77478

Attention: Chief Executive Officer

Fax: 281-491-2398

 

A-3

 

With a copy to:

Noble Corporation

13135 S. Dairy Ashford, Suite 800

Sugar Land, Texas 77478

Attention: Corporate Secretary

Fax: 281-276-6316

(b) If to Director, when delivered by hand, confirmed fax or mail (registered or certified
mail with postage prepaid) to:

The address and number, if any, set forth opposite

Director’s signature on the Restricted Stock Agreement

(c) If to the Escrow Agent, when delivered by hand, confirmed fax or mail (registered or
certified mail with postage prepaid) to:

Noble Corporation

13135 S. Dairy Ashford, Suite 800

Sugar Land, Texas 77478

Attention: Escrow — Restricted Stock Award

Fax: 281-276-6316

Any party may at any time give to the others notice in writing of any change of address of the
party giving such notice and from and after the giving of such notice the address or addresses
therein specified will be deemed to be the address of such party for the purposes of giving notice
hereunder.

8. Assignment; Binding Effect. This Escrow Agreement is not assignable by the Escrow Agent
and shall be binding upon and inure to the benefit of the parties hereto, and their respective
heirs, personal representatives, successors and permitted assigns.

9. Governing Law. This Escrow Agreement shall be governed by and construed and enforced in
accordance with the laws of the State of Texas, without regard to the principles of conflicts of
laws thereof, except to the extent Texas law is preempted by Federal law of the United States or by
the laws of the Cayman Islands.

10. Termination. This Escrow Agreement shall be terminated only upon the delivery of all the
Deposit Shares either to Director as Vested Shares or to the Company as Forfeited Shares, as the
case may be, in accordance with the provisions hereof.

 

A-4

 

IN WITNESS WHEREOF, the parties have executed this Escrow Agreement as of the date first above
written.

	 	 	 	 	 
	 	NOBLE CORPORATION

 	 
	 	By:  	/s/ David W. Williams
 	 
	 	 	Name:  	David W. Williams 	 
	 	 	Title:  	Chairman and Chief Executive Officer 	 
	 

	 	 	 	 	 	 
	 	 	   	 
	 

	 	Name of Director:	 	 	 
	 

	 	 	 	 	 

	 	 	 	 	 
	 	NOBLE CORPORATION,
as Escrow Agent

 	 
	 	By:  	/s/ Julie J. Robertson
 	 
	 	 	Name:  	Julie J. Robertson 	 
	 	 	Title:  	Executive Vice President and

Corporate Secretary 	 

 

A-5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00154-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00154-of-00352.parquet"}]]