Document:

Clarifying Amendment to Restricted Stock Award - Robert J. Saltiel

 Exhibit 10.4 
 Clarifying Amendment 
 Restricted Stock Award 

2007 Long-Term Incentive Plan 
 WHEREAS, Atwood Oceanics, Inc., a Texas corporation (the “Company”), has adopted and maintains the Atwood Oceanics, Inc. Amended and Restated 2007 Long-Term Incentive Plan, as amended (the
“2007 LTIP”), under which awards may be granted to selected employees, officers and directors of the Company; 

WHEREAS, pursuant to the 2007 LTIP, the Compensation Committee (the “Committee”) of the Board of Directors of the Company
previously granted to Robert J. Saltiel (“Awardee”) that certain Restricted Stock Award Amended and Restated Agreement dated December 21, 2010 (the “Award”); 

WHEREAS, the number of shares of the Company’s stock ultimately earned under the Award is subject to the achievement performance
measures described in “Exhibit A” to the Award; and 
 WHEREAS, the Committee and Awardee wish to enter into this
amendment to the Award to clarify certain terms of the performance measures as described in “Exhibit A” to the Award; 

NOW, THEREFORE, the parties hereto agree as follows: 
 1. The term “Employment Date” as used in Exhibit A means December 14, 2009. 
 2. Unless the Award is vested sooner according to Section 2 or Section 7 of the Award, the Restriction Period expires and the Award shall vest on the date that is four (4) years after the
date of grant of the Award, which expiration date is December 15, 2013. 
 3. The term “Cause” as used in
Section 2 of the Award shall have the meaning assigned to such term in the Employment Agreement between the parties, dated December 8, 2009. 
 4. If Awardee’s employment with the Company is terminated prior to the expiration of the Restriction Period for reasons other than those specified in Section 2 of the Award (without Cause) or
Section 3 of the Award (due to death, disability or Retirement), then the Award shall be forfeited in its entirety. 
 5.
During the Restriction Period, if any dividends or other distributions with respect to the Company’s common stock are paid in other than shares of common stock, then (1) any such dividends or distributions in the form of cash shall be held
in escrow by the Company and payment of such cash amounts shall be subject to the same restrictions as the shares included in the Award and (2) the number of shares subject to the Award shall be equitably adjusted, as determined by the
Committee in its sole and reasonable discretion, in order to prevent enlargement or dilution of the Award as a result of any such dividend or distribution that is deemed extraordinary in nature, as determined by the Committee in its sole and
reasonable discretion. 

 6. If, as a result of merger, acquisition or a similar corporate transaction, a member of
the performance peers with respect to the stock price performance measure of Exhibit A ceases to be publicly traded within the first 365 days after the date of the Award, then the following alternative stock price performance payout ranking will
apply: 
  

			
	Six Company Payout Schedule
		
	 Atwood Ranking
	  	 Percentage of shares vesting

	 1
	  	100%
	 2
	  	100%
	 3
	  	100%
	 4
	  	  50%
	 5
	  	  25%
	 6
	  	    0%

 If, as a result of merger, acquisition or a similar corporate transaction, a member of the performance peers with respect
to the stock price performance measure of Exhibit A ceases to be publicly traded subsequent to the first 365 days after the date of the Award, then such member of the peer group shall remain in the peer group and the stock price performance of such
member of the peer group shall be determined by assuming that its performance for the remainder of the performance period was equivalent to the arithmetic average percentage gain or loss (up or down) of the remaining members of the peer group
(excluding the Company) over the remainder of the performance period. 
 7. The shares of Company common stock with respect to
the Award that are subject to safety performance based on “TRIR” shall be determined on an annual basis as described in Exhibit A. However, any such shares annually determined to be awarded shall remain subject to forfeiture and shall not
vest until the expiration of the Restriction Period. Similarly, any shares relating to safety performance that are not deemed to be awarded based on the annual determination remain subject to full vesting and award (i) in the event of a Change
in Control prior to the end of the Restriction Period or (ii) subject to Section 3 of the Award in the event of death, disability or Retirement prior to the end of the Restriction Period. 

8. In determining stock price performance, dividends are excluded. 

 

									
		 		 	ATWOOD OCEANICS, INC.	 	
					
	 /s/ Robert J. Saltiel
	 		 	By:	 	 /s/ Walter A. Baker
	 	
	Robert J. Saltiel	 		 		 	Name: Walter A. Baker	 	
		 		 		 	Title: Vice President, General Counsel	 	
					
	Date: April 20, 2012	 		 		 	Date: April 20, 2012Restricted Stock Agreement - Mark Mey

 Exhibit 10.5 
 ATWOOD OCEANICS, INC. 
 RESTRICTED STOCK AWARD AGREEMENT

 2007 LONG-TERM INCENTIVE PLAN 
 This is an Agreement dated the 11th day of August 2010, between ATWOOD OCEANICS, INC., (the “Company”) and Mark Mey (“Restricted Stock Award Recipient”). 

Recitals: 
 The Company
has adopted its 2007 Long-Term Incentive Plan (as amended, restated, or otherwise modified from time to time, the “Plan”) for the awarding to Participants (as defined in the Plan) shares of Common Stock of the Company as restricted stock.
Pursuant to said Plan, the Compensation Committee of the Company’s Board of Directors has approved and ratified the execution of this Restricted Stock Award Agreement between the Company and the Restricted Stock Award Recipient. It is
understood and agreed that neither the award of restricted stock nor the execution of this Agreement shall create any right of the Recipient to remain in the employ of the Company, and that the Company retains the right to terminate such employment
at will, for due cause or otherwise. 
 Agreement: 
  

	 	1.	The Company awards to the Restricted Stock Award Recipient 12,500 shares of restricted Common Stock, $1.00 per value, of the Company (the “Restricted
Stock”). The Restricted Stock has a restriction period of four (4) years (the “Restriction Period”). [Unless otherwise accelerated pursuant to the terms of the relevant award agreement or by the Compensation Committee as
set forth herein, vesting of the Restricted Stock will only occur if the Restricted Stock Award Recipient remains in the employment of the Company, its subsidiary or affiliate (collectively, the “Company Group for the prescribed Restriction
Period.] At the end of the Restriction Period, the restriction imposed by the Compensation Committee shall lapse with respect to the Restricted Stock covered by this Agreement. 

	 	2.	The Compensation Committee may, in its discretion, accelerate the vesting of this Restricted Stock Award in the case of death or disability. In the case of retirement,
there will be no acceleration of the vesting of this Restricted Stock Award. Unless otherwise accelerated due to death or disability of the Restricted Stock Award Recipient or in the event of a Change of Control, all Restricted Stock Awards shall be
forfeited upon termination of employment at any time prior to the end of the restriction period of four (4) years. 

  

	 	3.	The holder of Restricted Stock may not sell, transfer, pledge, exchange, hypothecate, or otherwise dispose of the Restricted Stock during the applicable Restriction
Period. 

  

	 	4.	During any Restriction Period, if any dividends or other distributions are paid in shares of Common Stock, the Restricted Stock Award Recipient shall receive such
dividends, but all such shares of Common Stock shall be subject to the same restrictions as the shares of Restricted Stock with respect to which they were paid. 

 

	 	5.	The employment of the Restricted Stock Award Recipient, as it relates to the Restriction Period, shall be deemed to continue during any leave of absence, which has been
authorized by the Company Group. 

  

	 	6.	If the outstanding shares of the Common Stock of the Company are increased, decreased, changed into, or exchanged for a different number or kind of shares or securities
of the Company through reorganization, recapitalization, reclassification, stock dividend, stock split or reverse stock split, an appropriate and proportionate adjustment shall be made in the Restricted Stock on the same basis as any other similarly
situated shareholder of the Company. 

  

	 	7.	Subject to the provisions of the Plan, in the event of a Change of Control (as defined in the Plan), [all Restricted Stock shall vest and] the Restriction Period shall
terminate. 

  

	 	8.	Nothing herein contained shall affect the right of the Restricted Stock Award Recipient to participate in and receive benefits under and in accordance with the

	 	9.	then current provisions of any pension, insurance, profit sharing or other Restricted Stock Award Recipient welfare plan or program of the Company Group.

  

	 	10.	The Restricted Stock Award Recipient shall not be entitled to any of the rights or privileges of a shareholder of the Company in respect of any shares of Common Stock
until a certificate or certificates representing such shares shall have been actually issued and delivered to him or her. 

  

	 	11.	The Restricted Stock is subject to, and the Company and Restricted Stock Award Recipient agree to be bound by, all of the terms and conditions of the Plan, except that
no amendment to the Plan shall adversely affect the Restricted Stock Award Recipient’s rights under this Agreement. A copy of the Plan in its present form is available for inspection during business hours by the Restricted Stock Award Recipient
at the Company’s principal office. 

  

	 	12.	Upon lapse of the Restriction Period [and vesting] of the Restricted Stock, the Company Group may be required to withhold federal or local tax with respect to the
realization of compensation. Any federal or local tax withholding requirements with respect to the realization of compensation must be fully satisfied by the Restricted Stock Award Recipient upon the lapse of the Restriction Period [and vesting] by
delivering to the Company, on behalf of the Company Group, cash in an amount determined by the Company Group to be sufficient to satisfy any such withholding requirement. 

 

	 	13.	This Agreement has been executed and delivered the day and year first above written at Houston, Texas, and the interpretation, performance and enforcement of this
Agreement shall be governed by the laws of the State of Texas, without regard to conflicts of laws. 

  

			
	ATWOOD OCEANICS, INC.	 	
		
	 /s/ Rodney L. Mallams
	 	
	By: Rodney L. Mallams	 	
		
	 Mark L. Mey
	 	
	Restricted Stock Award Recipient

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