Transocean Ltd. (RIG) filed a Form 8K - Changes in Company
Executive Management - with the U.S Securities and Exchange
Commission on April 16, 2015.
Certain Officers; Compensatory Arrangements of Certain
Officers.
(c) On April 15, 2015, Ian C. Strachan entered into an
employment agreement (the "Agreement") with Transocean Ltd. (the
"Company"), pursuant to which Mr. Strachan will continue to be
employed as the Company's Interim Chief Executive Officer. Pursuant
to the terms of the Agreement, Mr. Strachan will receive a gross
monthly base salary of $235,000. Mr. Strachan will not participate
in the Company's Performance Award and Cash Bonus Plan or the
Company's Long-Term Incentive Plans and and he will not be eligible
to receive expatriate allowances. The Agreement specifies that the
compensation Mr. Strachan receives in his capacity as current
Chairman of the Company's Board of Directors shall not be impacted
by the compensation he will receive as Interim Chief Executive
Officer.
The foregoing description of the Agreement is not complete and
is qualified by reference to the complete Agreement, which is
attached hereto as Exhibit 10.1 and incorporated herein by
reference.
The full text of this SEC filing can be retrieved at:
http://www.sec.gov/Archives/edgar/data/1451505/000145150515000049/strachan_8-kxcover.htm
Any exhibits and associated documents for this SEC filing can be
retrieved at:
http://www.sec.gov/Archives/edgar/data/1451505/000145150515000049/0001451505-15-000049-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.
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