SEC Contract Filing

Filing Date: 2019-08-02

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>2
<FILENAME>exhibit103-2019cashawa.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<div><a name="sBF2FBC3844AEDA1DF5FD4391766F029C"></a></div><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">NOBLE CORPORATION </font></div><div style="line-height:120%;padding-bottom:32px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">TIME-VESTED CASH AWARD (RETENTION)</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">THIS INSTRUMENT (this &#8220;Instrument&#8221;), made effective as of the _______________, by Noble Corporation plc, a public limited company incorporated under the laws of England and Wales (the &#8220;Company&#8221;) evidences the time-vested Cash Award (as defined in the Plan) granted hereunder to _______________ (&#8220;Employee&#8221;) and sets forth the restrictions, terms and conditions that apply thereto.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">W I T N E S S E T H:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the committee (the &#8220;Committee&#8221;) acting under the Noble Corporation 2015 Omnibus Incentive Plan, as amended (the &#8220;Plan&#8221;), has determined that it is desirable to grant a time-vested Cash Award to Employee pursuant to the Plan; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, pursuant to the Plan, the Committee has determined that the time-vested Cash Award so granted shall be subject to the restrictions, terms and conditions set forth in this Instrument;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">NOW, THEREFORE, a time-vested Cash Award is hereby granted to Employee as follows:</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:justify;text-indent:48px;"><font style="padding-bottom:16px;text-align:justify;font-family:inherit;font-size:12pt;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Time-Vested Cash Award</font><font style="font-family:inherit;font-size:12pt;">. On the terms and conditions and subject to the restrictions, including forfeiture, hereinafter set forth, the Company hereby grants a $__________________ Cash Award (the &#8220;Awarded Cash Amount&#8221;) to Employee pursuant to the Plan. The Awarded Cash Amount is being granted to Employee effective as of the date of this Instrument (the &#8220;Effective Date&#8221;) and shall vest or be forfeited in accordance with (and otherwise be subject to) the provisions of this Instrument.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Vesting and Forfeiture in General</font><font style="font-family:inherit;font-size:12pt;">. Except as set forth in Section 3 of this Instrument, the applicable portion of the Awarded Cash Amount shall vest and the forfeiture restrictions applicable thereto under this Instrument shall terminate in accordance with the provisions of the attached Schedule I, provided that Employee remains continuously employed by the Company or an affiliate thereof from the Effective Date to the applicable date of vesting. Any portion of the Awarded Cash Amount that has not already vested (&#8220;Outstanding Awarded Cash Amount&#8221;) shall be forfeited by Employee upon the termination of Employee&#8217;s employment with the Company or an affiliate thereof for any reason other than by reason of (i) the Company&#8217;s termination of Employee&#8217;s employment for reasons other than for Cause (as defined below) (a &#8220;Non-Cause Termination&#8221;) or (ii) Employee&#8217;s termination of Employee&#8217;s employment for Good Reason (as defined below) but solely in the event that the Trigger Event (as defined below) has occurred on or before such date of such termination for Good Reason (the events described in clauses (i) and (ii) above each being a &#8220;Qualifying Termination&#8221;). For purposes of this Instrument, transfers of employment without interruption of service between or among the Company and any of its affiliates shall not be considered a termination of employment. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">For purposes of this Instrument, &#8220;Cause&#8221; shall mean (i) the willful and continued failure of Employee to perform substantially Employee&#8217;s duties for the Company (other than any such failure resulting from bodily injury or disease