UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 14A
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Transocean Inc.
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(Name of Registrant as Specified In Its Charter)
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SEC 1913 (02-02)
[TRANSOCEAN LOGO] TRANSOCEAN INC.
J. MICHAEL TALBERT POST OFFICE BOX 2765
CHAIRMAN OF THE BOARD
HOUSTON, TEXAS 77252-2765
May 6, 2004
Fidelity Investments
Legal Dept. - Proxy Group
82 Devonshire F7C
Boston, MA 02109
Attention: Mr. Ed Corrao
Dear Mr. Corrao:
RE: TRANSOCEAN INC.
On behalf of Transocean Inc. management, we will commit to recommending that the
Board of Transocean Inc. amend the Long Term Incentive Plan (the "Plan") so that
any awards to Eligible Directors under the Plan are required to be approved by a
group consisting solely of directors who are independent under the standards of
the New York Stock Exchange. We understand that based upon this commitment,
Fidelity will support the proposed amendments to the Plan. If you would like any
further clarification, please advise.
Sincerely,
/s/ J. Michael Talbert
J. Michael Talbert
Cc Mr. Eric B. Brown
Senior Vice President and General Counsel