RELEASE OF CLAIMS
This RELEASE OF CLAIMS (this Release) is made on and effective as of March 11, 2020 (the Determination Date) by Stephen M. Butz (Executive) in favor of Noble Corporation plc, a public limited company formed under the laws of England and Wales (Parent), and Noble Drilling Services Inc., a Delaware corporation (the Company and, together with Parent, the Employer Parties), and the other Releasees (as defined herein) in connection with the Separation Agreement entered into by and between Executive, Parent, and the Company dated March 11, 2020 (the Separation Agreement). Unless otherwise defined herein, all capitalized terms used in this Release that are defined in the Separation Agreement shall have the meanings assigned to them in the Separation Agreement.
WHEREAS, the Employer Parties wish to obtain a final release of all claims as of the Determination Date by Executive, and
WHEREAS, Executive is willing to execute and deliver this Release to the Employer Parties, as specifically provided herein.
NOW, THEREFORE, in consideration of the promises, covenants and undertakings set forth herein, and in full compromise, release and settlement, accord and satisfaction and discharge of all claims or causes of action, known or unknown, the Parties agree as follows:
1. Consideration. Following Executives execution and return of this Release, provided this Release is not timely revoked by Executive, Executive shall be entitled to the benefits described in Sections 2[(a) / (b)] and 2(c) of the Separation Agreement. Executive acknowledges that Executive is not entitled to, and will not receive, any other compensation or benefits from the Company expect as specified herein.
2. Waiver and Release of Claims.
(a) General Release by Executive. In consideration of the foregoing, including the payment described in Section 1 above, which Executive hereby expressly acknowledges as good and sufficient consideration for the releases provided below, Executive hereby unconditionally and irrevocably releases, acquits and forever discharges, to the fullest extent permitted by applicable law, (i) Parent and all of its predecessors, successors and assigns, (ii) all of Parents past, present and future affiliates, parent corporations, subsidiaries, divisions and joint venture entities and all of their respective predecessors, successors and assigns, and (iii) all of the past, present and future officers, directors, managers, shareholders, investors, employee benefit plan administrators, employees, agents, attorneys and other representatives of each of the entities described in the immediately preceding clauses (i) and (ii), individually and in their respective representative capacities (the persons or entities referred to in the immediately preceding clauses (i), (ii) and (iii) being, individually, a Releasee and, collectively, the Releasees), from any and every action, cause of action, complaint, claim, demand, administrative charge, legal right, compensation, obligation, damages (including consequential, exemplary and punitive damages), liability, cost or expense (including attorneys fees) that Executive has, may have or may be entitled to from or against any of the Releasees, whether legal, equitable or administrative, in any forum or jurisdiction, whether known or unknown, foreseen or unforeseen, matured or unmatured, accrued or not accrued, which arises directly or indirectly out of, or is based on or related in any way to Executives employment with or termination of employment from the Company or any of its affiliates, including any such matter arising in respect of that certain Employment Agreement by and among Executive and the Employer Parties dated December 19, 2019, or the Sign-On Agreement (such that those agreements shall be of no further force or effect, and are null and void,