SEC Form 3
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person*
Ackert David

(Last) (First) (Middle)
515 POST OAK BLVD., STE. 600

(Street)
HOUSTON TX 77027

(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
05/13/2010
3. Issuer Name and Ticker or Trading Symbol
Weatherford International Ltd./Switzerland [ WFT ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Sr VP Eastern Hemisphere
5. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Registered Shares 94,398(1) D
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Performance Units (2) (2) Registered Shares 103,062 (2) D
Explanation of Responses:
1. Includes of restricted share units that vest as follows: 20,000 that vest on September 10, 2011, 10,000 that vest on May 7, 2012, 13,333 that vest in equal installments on each of March 6, 2011 and 2012, 6,666 that vest in equal installments on each of April 7, 2011 and 2012, and 20,000 that vest in equal installments on each of October 7, 2010, 2011 and 2012.
2. Each performance unit represents a contingent right to receive 0 to 2 registered shares. The conversion ratio (0, .5, 1 or 2) ultimately applied to these performance units will be determined based on the company achieving a total shareholder return over the applicable performance period (i.e., fiscal year) relative to a specified peer group. The units will vest in three equal annual increments on each of January 3, 2011 and 2012 and January 2, 2013, based on relative shareholder return for the previous fiscal year.
Remarks:
Joseph C. Henry 05/13/2010
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.