Tidewater Inc. Summary of Director Compensation Arrangements as of March 31, 2017
Tidewater Inc. outlines the compensation for its non-management directors as of March 31, 2017. Directors receive an annual cash retainer, with additional payments for serving as chairman or committee chairs. They also receive meeting fees, an annual equity award (currently paid in cash), reimbursement for travel and related expenses, and can participate in a gift matching program for educational donations. These arrangements specify the financial and benefit terms for board service, ensuring directors are compensated for their roles and responsibilities.
Exhibit 10.22
Tidewater Inc.
Summary of Director Compensation Arrangements
as of March 31, 2017
For service as a non-management director, compensation is as follows:
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| • | An annual cash retainer of $51,000; |
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| • | An additional annual cash retainer of $125,000 for the chairman of the board; |
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| • | An additional annual cash retainer of $15,000 for the chair of each of the audit committee and the compensation committee, and $10,000 for the chair of each of the nominating and corporate governance committee and the finance and investment committee; |
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| • | committee meeting fees of $1,500 per meeting; |
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| • | An annual equity award of $97,750, which is currently paid in cash with other annual cash retainers; |
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| • | Reimbursement of reasonable travel and other out-of-pocket expenses incurred in connection with attendance at meetings of the board of directors and its committees; and |
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| • | Participation in the company’s Gift Matching Program under which the company matches a director’s contribution to an educational institution or foundation up to $5,000 per year. |
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