On June 11, 2014, William C. Long, Senior Vice President, General Counsel and Secretary of Diamond Offshore Drilling, Inc., resigned from the company. The company entered into an agreement with Mr. Long in connection with his resignation which includes, among other things, continuation of his current base salary for 24 months, payment in the normal course of a prorated incentive compensation award for 2014, payment of premiums for medical insurance for two years and acceleration of all unvested stock appreciation rights.