NOBLE CORPORATION PLC
EXHIBIT 10.12
NOBLE CORPORATION PLC
DEVONSHIRE HOUSE ● 0 XXXXXXX XXXXX
XXXXXX x X0X 0XX ● ENGLAND ● + 44 20 3300 2300
Xxxxx 00, 0000
Xxxxxxx Offshore plc
c/o Paragon Offshore Services LLC
0000 Xxxxxxxxx Xxxxx
Xxxxxxx, Xxxxx 00000
Attention: Xxxx X. Xxxxxxxxx
Dear Xxxx:
Reference is made to the Definitive Settlement Agreement, dated as of April 29, 2016 (the "Settlement Agreement"), by and between Paragon Offshore plc ("Paragon") and Noble Corporation plc ("Noble"). Capitalized terms which are not otherwise defined herein shall have the meanings set forth in the Settlement Agreement.
On April 21, 2017, Paragon filed a plan of reorganization in the Paragon Cases that does not incorporate the terms and conditions of the Settlement Agreement. Accordingly, pursuant to Section 8.1(b) of the Settlement Agreement, Noble hereby terminates the Settlement Agreement. This termination is without prejudice to Noble's rights and Paragon's obligations under the Separation Agreements.
Sincerely,
By: ___/s/ Xxxxx. W. Williams__________
Name: Xxxxx X. Xxxxxxxx
Title: Chairmen, President & CEO
cc: Weil, Gotshal & Xxxxxx, LLP
000 Xxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Xxxx X. Xxxxxxx
Noble Corporation plc is a public limited company registered in England and Wales with company number 08354954
and registered office at Devonshire House, 0 Xxxxxxx Xxxxx, Xxxxxx, X0X 0XX Xxxxxxx