The Mississippi Exchange agreement is a legal document that outlines the terms and conditions of an exchange program offered by Noble Drilling Corp. In this agreement, participants have the opportunity to exchange their common stock for shares of Noble Drilling Corp. This exchange agreement serves as a means for shareholders to diversify their investment portfolio or capitalize on potential growth opportunities. By participating in the Mississippi Exchange agreement, shareholders can convert their existing common stock into shares of Noble Drilling Corp., subject to certain conditions and guidelines specified in the agreement. One type of Mississippi Exchange agreement provided by Noble Drilling Corp. is the Common Stock Exchange Program. This program allows shareholders to swap their common stock for shares of Noble Drilling Corp. at a predetermined conversion rate. By doing so, shareholders can benefit from potential growth opportunities offered by Noble Drilling Corp. while maintaining their investment within the company. Another type of Mississippi Exchange agreement introduced by Noble Drilling Corp. is the Preferred Stock Exchange Program. This program is designed for those shareholders who hold preferred shares in other companies and wish to exchange them for Noble Drilling Corp.'s common stock. By participating in this program, shareholders can convert their preferred stock into common stock offered by Noble Drilling Corp., potentially increasing their liquidity and investment flexibility. Under these agreements, Noble Drilling Corp. has also announced an increase in the authorized common stock. This means that the company has obtained approval from its board of directors and shareholders to issue more shares of common stock to the public or existing shareholders. This increase aims to provide Noble Drilling Corp. with additional capital for future investments, acquisitions, or business expansions. By increasing the authorized common stock, Noble Drilling Corp. demonstrates its commitment to enhancing shareholder value and facilitating potential growth opportunities. It also indicates the company's confidence in its future prospects and ability to generate positive returns for its investors. In summary, the Mississippi Exchange agreement offered by Noble Drilling Corp. allows shareholders to exchange their common or preferred shares for shares of Noble Drilling Corp. The Common Stock Exchange Program and the Preferred Stock Exchange Program are two types of exchange agreements provided. These agreements aim to provide investment opportunities and increase flexibility for shareholders. Additionally, Noble Drilling Corp. has approved an increase in the authorized common stock, demonstrating its commitment to growth and shareholder value.