FIRST AMENDMENT TO EXECUTIVE CHANGE OF CONTROL AGREEMENT

Exhibit 10.1

FIRST AMENDMENT TO

EXECUTIVE CHANGE OF CONTROL AGREEMENT

WHEREAS, Atwood Oceanics, Inc., a Texas corporation (the “Company”), and [            ] (the “Executive”) are party to that certain Executive Change of Control Agreement effective as of May 24, 2012 (the “Agreement”); and

WHEREAS, in connection with the promotion of the Executive, the Company desires to amend the terms of the Agreement to increase the potential severance payment thereunder; and

WHEREAS, pursuant to Section 7.4 of the Agreement, the Agreement may be amended by a written instrument signed by the parties thereto; and

WHEREAS, the Executive hereby consents to the amendment of the Agreement as provided herein (the “Amendment”);

NOW, THEREFORE, the Agreement is hereby amended, effective as of January 1, 2015, as follows:

“(ii) in lump sum on the sixtieth (60th) day after the Date of Termination, an amount equal to [2.5/2.75] times the sum of (1) the Executive’s Annual Salary, plus (2) the Executive’s Target Annual Bonus.”