ESV Ensco Plc New

ENSCO PLC (ESV) filed a Form 8K - Changes in Company Executive Management - with the U.S Securities and Exchange Commission on March 06, 2017.

On March 6, 2017, the Compensation Committee of the Board of Directors of Ensco plc (the "Company") granted retention awards to the Company's executive officers, in each case on the terms and subject to the conditions of such executive officer's retention award agreement (collectively, the "Retention Award Agreements"). The retention award amounts for our principal executive officer, principal financial officer and each named executive officer are set forth below.

Executive 2018 Retention Payment 2019 Retention Payment Total Retention Award

Carl G. Trowell 900,000

900,000

1,800,000

Jonathan Baksht $ 637,500

$ 637,500

$ 1,275,000

P. Carey Lowe $ 775,000

$ 775,000

$ 1,550,000

Steven J. Brady $ 490,000

$ 490,000

$ 980,000

John S. Knowlton $ 450,000

$ 450,000

$ 900,000

Pursuant to the Retention Award Agreements, the executive will earn (i) one-half of the retention award if such executive remains employed through December 31, 2017 and (ii) the second half of the retention award if such executive remains employed through December 31, 2018. If earned, each of the retention payments will be paid in a lump sum in cash on or before January 15, 2018 and 2019, respectively. The Retention Award Agreements provide for accelerated vesting, in whole or in part, upon death, permanent and total disability, termination without cause, and termination without cause or resignation for good reason within two years following a change of control. If an executive voluntarily resigns or is terminated for cause, any then unearned portion of such executive's retention award is forfeited.

The full text of this SEC filing can be retrieved at: http://www.sec.gov/Archives/edgar/data/314808/000031480817000042/form8k_item502retentionawa.htm

Any exhibits and associated documents for this SEC filing can be retrieved at: http://www.sec.gov/Archives/edgar/data/314808/000031480817000042/0000314808-17-000042-index.htm

Public companies must file a Form 8-K, or current report, with the SEC generally within four days of any event that could materially affect a company's financial position or the value of its shares.

(END) Dow Jones Newswires

March 10, 2017 16:44 ET (21:44 GMT)

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