Salary Reduction Agreement between Richard M. Safier and GulfMark Offshore, Inc.
Richard M. Safier, Senior Vice President and General Counsel of GulfMark Offshore, Inc., agrees to a voluntary 5% reduction in his annual base salary, effective from the first full payroll period after March 23, 2015. He confirms that this reduction does not breach any existing agreements with the company. The agreement is acknowledged and accepted by the company's President and CEO, Quintin V. Kneen.
Exhibit 10.3
March 23, 2015
GulfMark Offshore, Inc.
842 West Sam Houston Parkway North
Suite 400
Houston, Texas 77024
Dear Sir:
I propose and voluntarily agree to a 5% reduction in my annual base salary effective as of the first full payroll period commencing after this date. I agree that this reduction in my annual base salary will not be a breach of any agreements I have with the company.
Sincerely,
/s/ Richard M. Safier
Richard M. Safier
SVP and General Counsel
GulfMark Offshore, Inc.
Agreed:
/s/ Quintin V. Kneen
Quintin V. Kneen
President and Chief Executive Officer
GulfMark Offshore, Inc.
