FIFTH SUPPLEMENTAL INDENTURE among TRANSOCEAN INC. as Issuer TRANSOCEAN LTD. as Guarantor and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee December 5, 2011Fifth Supplemental Indenture • December 5th, 2011 • Transocean Ltd. • Drilling oil & gas wells • New York
This Security is one of a duly authorized issue of senior securities of the Company issued and to be issued in one or more series under an Indenture, dated as of December 11, 2007 between the Company and Wells Fargo Bank, National Association, as trustee (herein called the “Trustee”, which term includes any successor trustee under the Indenture (as defined below)), as amended by the Third Supplemental Indenture thereto dated as of December 18, 2008 among the Company, Transocean Ltd., a Swiss corporation (the “Guarantor”), and the Trustee and the Fifth Supplemental Indenture thereto dated as of December 5, 2011 among the Company, the Guarantor and the Trustee (as so amended, herein called the “Indenture”), or their respective predecessors, as applicable, to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Sec
