England and Wales | 1-8097 | 98-0635229 |
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
• | a payment of the executive’s base salary and all other earned but unpaid cash compensation or entitlements due to the executive through (and including) the executive’s termination date, including any unused accrued vacation pay and reimbursable business expenses in accordance with the policies, standards and/or procedures maintained by the Company for such purposes; |
• | a lump sum payment equal to the sum of: (a) the executive’s annual base salary through the date of termination, (b) an amount equal to two times (in the case of Mr. Lowe) or one times (in the case of Messrs. Baksht and Brady) the executive’s highest annual base salary in effect at any time within 12 months preceding the change in control, and (c) an amount equal to two times (in the case of Mr. Lowe) or one times (in the case of Messrs. Baksht and Brady) the executive’s target bonus under the Company’s cash incentive plan for the year in which the change in control occurs; and |
• | continued group health plan coverage at the same rate that is then being charged to similarly-situated active employees for a period of one year following the termination of employment, provided such obligation is terminated during any period in which the applicable executive is eligible for group medical coverage provided by another employer. |
Ensco plc | |||
Date: | January 29, 2016 | /s/ Tommy E. Darby Tommy E. Darby Controller |