TIDEWATER INC. SUMMARY OF DIRECTOR COMPENSATION ARRANGEMENTS

Contract Categories: Human Resources - Compensation Agreements
EX-10.45 6 dex1045.htm SUMMARY OF COMPENSATION ARRANGEMENTS WITH DIRECTORS Summary of Compensation Arrangements with Directors

Exhibit 10.45

TIDEWATER INC.

SUMMARY OF DIRECTOR COMPENSATION ARRANGEMENTS

For service as a non-management director, compensation is as follows:

 

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An annual cash retainer of $40,000;

 

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An additional annual cash retainer of $20,000 for the lead director;

 

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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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A meeting fee of $2,000 for each board or committee meeting attended;

 

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An annual grant of deferred stock units under the Directors Deferred Stock Units Plan valued at date of grant at $100,000;

 

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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;

 

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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; and

 

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For directors who were members of the board prior to March 31, 2006, accrued benefits under the now frozen Non-Qualified Pension Plan for Outside Directors of Tidewater.

 

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